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USD/JPY Discussion

  • #12,761
  • May 5, 2009 9:05pm May 5, 2009 9:05pm
Quoting swiftpip
Tomasz,

appreciate your insight. I had two shorts that already hit their TP. What are you seeing on the charts that would call for a retrace of the majority of this recent move up?
Thanks

Tim
I drew S/R @99.00 few months ago and now It touched and is moving away from 99.00 S/R. That is just S/R that gives me the entry point. Now I have no worries, weather it hits 96.00 or not still I can not lose this trade.

I try to work out Support/Resistance and see how are other pairs doing.
Tim, very important that You first Plan the Trade and only then Trade the Plan.
  • #12,762
  • May 5, 2009 9:17pm May 5, 2009 9:17pm
Quoting tomasz
I drew S/R @99.00 few months ago and now It touched and is moving away from 99.00 S/R. That is just S/R that gives me the entry point. Now I have no worries, weather it hits 96.00 or not still I can not lose this trade.

I try to work out Support/Resistance and see how are other pairs doing.
Tim, very important that You first Plan the Trade and only then Trade the Plan.
Thanks. I am going to watch for a retrace before considering entering short again.
  • #12,763
  • May 6, 2009 12:31am May 6, 2009 12:31am
I prefer to short this guy..
here is my daily chart.. momentum 1,10,14 all pointing down and below zero line (refer to auslanco mom analysis).. RSI also pointing down.. price already break red trendline and retest..
Target is around 93.11 area..
Attached Image
  • #12,764
  • May 6, 2009 11:40am May 6, 2009 11:40am
It's not going too well, first It hit my S/L wich was B/E and reentered short
@98.93 4h candle is forming bearish but can not be too sure so I already moved my S/L to B/E. Slowly I am getting ready to switch to Long position.
  • #12,765
  • May 6, 2009 11:44am May 6, 2009 11:44am
m long....
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 19 KB
  • #12,766
  • May 6, 2009 11:56am May 6, 2009 11:56am
pls take a look at the daily chart before you consider that
  • #12,767
  • May 6, 2009 9:09pm May 6, 2009 9:09pm
I just exited my shorts and entered long. It's not going down so maybe it will go up . Seems like is just ranging before tomorrow big news'.
  • #12,768
  • May 7, 2009 2:31pm May 7, 2009 2:31pm
My current view on UJ:
http://www.forexfactory.com/showpost...&postcount=116
  • #12,769
  • May 8, 2009 5:51am May 8, 2009 5:51am
This week that pair has not really pick a direction. I am still long since 98.69 and my S/L is @ BE, can not lose on it but can't make pips either. If it breaks 99.57 then I think I will catch 300 pips. Any thoughts?
  • #12,770
  • May 8, 2009 7:03am May 8, 2009 7:03am
direction shall be picked in 1/2 and hour after Non-Farm Employment change.

usd/jpy trading on sentiment at the moment, i wouldn't be reading to much into charts until the trend is established..

flip a coin.... but if the news is as predicted, the we should break and stay over 100 by close of trade, otherwise 98.
  • #12,771
  • May 8, 2009 7:10am May 8, 2009 7:10am
Quoting fiat
direction shall be picked in 1/2 and hour after Non-Farm Employment change.

usd/jpy trading on sentiment at the moment, i wouldn't be reading to much into charts until the trend is established..

flip a coin.... but if the news is as predicted, the we should break and stay over 100 by close of trade, otherwise 98.
Yep, seems like it.
  • #12,772
  • May 8, 2009 11:32am May 8, 2009 11:32am
Quoting mphpopular
My current view on UJ:
http://www.forexfactory.com/showpost...&postcount=116
I think that you should take a longer perspective with a four hour chart. Just based on looking at your chat, you seem to only consider a day or two of movement before drawing a line. While those lines are valid they are certainly not very powerful. What I see there is one M top with a drop and I see another, M top in formation at the far right.

I predict that the bears will take control. Any, bullish movement is just an opportunity to sit out and get a better entry.
  • #12,773
  • May 8, 2009 2:28pm May 8, 2009 2:28pm
It hit my Stop and it seems like is going down. Hopefully next week will be better. Have a nice weekend everyone.
  • #12,774
  • May 8, 2009 2:35pm May 8, 2009 2:35pm
Quote
I predict that the bears will take control. Any, bullish movement is just an opportunity to sit out and get a better entry.

I don't predict but I agree to that.
  • #12,775
  • May 10, 2009 7:42pm May 10, 2009 7:42pm
I am shorting it for now but am not sure if it is going down.
Looks like it can not break trough 99.57 and I feel that if it breaks 97.90 then it will go down to 95.60. Any views?
  • #12,776
  • May 10, 2009 10:52pm May 10, 2009 10:52pm
we may have a H&S on daiy
  • #12,777
  • May 11, 2009 8:29pm May 11, 2009 8:29pm
so far, it heads down and daily bar closed below 97.70 and if it does not turn around, next support is around 96.30
  • #12,778
  • May 12, 2009 5:59am May 12, 2009 5:59am
head and shoulders on daily?
Attached Image (click to enlarge)
Click to Enlarge Name: forexchart.gif Size: 48 KB
  • #12,779
  • May 12, 2009 9:25am May 12, 2009 9:25am
I just collected 200 pips, and I was very lucky with that trade.
Let's see what it is going to do now and I will be looking for an entry in few days.
  • #12,780
  • May 14, 2009 2:58am May 14, 2009 2:58am
I'm open short 95.50, target 94.50

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