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If you love the EUR/JPY and you know it... clap your hands!

  • #541
  • May 18, 2009 4:19am May 18, 2009 4:19am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting adilfx
I am short at 128.58, my target is 127.50

What's your stoploss?
  • #542
  • May 18, 2009 4:35am May 18, 2009 4:35am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
It's Yen weakness as opposed to Euro strength in this rise.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-05-18_eurjpy_37.gif Size: 34 KB
  • #543
  • May 18, 2009 6:04am May 18, 2009 6:04am
Quoting Yuppie
It's Yen weakness as opposed to Euro strength in this rise.
the yen is weekening, correct?
The Chonchy
  • #544
  • May 18, 2009 6:06am May 18, 2009 6:06am
I be carefull with the shorts too, me think
The Chonchy
  • #545
  • May 18, 2009 6:12am May 18, 2009 6:12am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting chonchy
the yen is weekening, correct?

Well,

EUR/JPY is going up, so we have three possible scenarios:

1) EUR is strong
2) JPY is weak
3) EUR is strong and JPY is weak

We look at EUR/USD to see that it is ranging.

Thus EUR and USD are about as strong/weak as each other.

Ergo, JPY must be the currency that is weak to cause both EUR/JPY and USD/JPY to rise - if EUR/USD is doing nothing.


Magnus
  • #546
  • May 18, 2009 6:37am May 18, 2009 6:37am
I see eurjpy move is being driven by jpy strength and recent pullback is because rebound in yen strength.

Will eurjpy continues its recent down trend? if it is where is the next target?

Any Idea.
  • #547
  • May 18, 2009 6:42am May 18, 2009 6:42am
Quoting Yuppie
Well,

EUR/JPY is going up, so we have three possible scenarios:

1) EUR is strong
2) JPY is weak
3) EUR is strong and JPY is weak

We look at EUR/USD to see that it is ranging.

Thus EUR and USD are about as strong/weak as each other.

Ergo, JPY must be the currency that is weak to cause both EUR/JPY and USD/JPY to rise - if EUR/USD is doing nothing.


Magnus
very well explain it , thanks I appriciated
The Chonchy
  • #548
  • May 18, 2009 6:44am May 18, 2009 6:44am
Quoting Yuppie
Well,

EUR/JPY is going up, so we have three possible scenarios:

1) EUR is strong
2) JPY is weak
3) EUR is strong and JPY is weak

We look at EUR/USD to see that it is ranging.

Thus EUR and USD are about as strong/weak as each other.

Ergo, JPY must be the currency that is weak to cause both EUR/JPY and USD/JPY to rise - if EUR/USD is doing nothing.


Magnus
and household confidence is up 32 in green yen 1:00
am today, don't get the news anymore
The Chonchy
  • #549
  • May 18, 2009 6:56am May 18, 2009 6:56am
Quoting arif_endro
I see eurjpy move is being driven by jpy strength and recent pullback is because rebound in yen strength.

Will eurjpy continues its recent down trend? if it is where is the next target?

Any Idea.
pivot points could help you with the next target and the yen could strength or weeken when ever they feel like, if is too strong and will interfere with their export, the emperor intervine and trow some billions and then he get it all back with the procidings of the exports sales, IMOHO
The Chonchy
  • #550
  • May 18, 2009 7:31am May 18, 2009 7:31am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting arif_endro
I see eurjpy move is being driven by jpy strength and recent pullback is because rebound in yen strength.

Will eurjpy continues its recent down trend? if it is where is the next target?

Any Idea.

No idea... ...and if it did, what's your target?... you shooting for 10 pip scalp or 1000 pip runner. You on tick-charts or weekly?

What's a "target" to you?


Magnus
  • #551
  • May 18, 2009 11:27am May 18, 2009 11:27am
http://i44.tinypic.com/2sbvekz.png
  • #552
  • May 18, 2009 11:37am May 18, 2009 11:37am
http://i40.tinypic.com/j0kwzr.png
  • #553
  • May 18, 2009 12:07pm May 18, 2009 12:07pm
I believe market should reach the 50% fib.
Area assign in the graph.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 43 KB
  • #554
  • May 18, 2009 12:27pm May 18, 2009 12:27pm
http://i42.tinypic.com/2j2bzhl.png
  • #555
  • May 18, 2009 4:16pm May 18, 2009 4:16pm
Yuppie,

Didn't you tell me being able to withstand 300 pip moves for EJ position trades was a bit of an exageration?

From last nights bottom of 126.95, midway through the asian session, to the current top of 130.66, is a 371 pip move (this would've closed my shorts at breakeven if I hadn't taken profits first).

Just messin' with you .

Any thoughts?

I'm still open to a short position around the 3 fib intersection .

http://i40.tinypic.com/dexkb7.png

http://i40.tinypic.com/eafw2r.png
  • #556
  • May 18, 2009 9:33pm May 18, 2009 9:33pm
Quoting Yani
I believe market should reach the 50% fib.
Area assign in the graph. Attachment

Yes it did reach 50%, I am selling now at 10:30 EST (NY time). Will scale out at one hour 21 ema and or 38% of recent up move
Never Trade without a defined risk, never, never, never.
  • #557
  • May 19, 2009 1:27am May 19, 2009 1:27am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Low
...From last nights bottom of 126.95, midway through the asian session, to the current top of 130.66, is a 371 pip move (this would've closed my shorts at breakeven if I hadn't taken profits first).

Out of interest, would it have stopped out your shorts if you left your initial SLs where they were and not setting to BE?

I find this happens a lot.

Price will come back up to my entry.


Magnus
  • #558
  • May 19, 2009 1:46am May 19, 2009 1:46am
Quoting Yuppie
Out of interest, would it have stopped out your shorts if you left your initial SLs where they were and not setting to BE?

I find this happens a lot.

Price will come back up to my entry.


Magnus
It would have now, with that price spike
  • #559
  • May 19, 2009 4:25am May 19, 2009 4:25am
eurjpy show a retreat from recent high, how far it will go down?
  • #560
  • May 19, 2009 5:10am May 19, 2009 5:10am
I will not sell 'till i see this trend line break and the market making a lower high and lower lows...

graph to show - EUR/JPY 15M
Attached Image (click to enlarge)
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