The natural direction, notwithstanding the recent jump off of 88, is for the yen to continue to appreciate relative to the dollar. If the BoJ starts buying dollars then it is fighting the market in order to try and support a weaker yen - sustainable for some time, but not long term. I think there are easier pairs at this time, no need to force something as the near term situation looks more convoluted than other pairs.
- #13,384
- Oct 13, 2009 6:42am Oct 13, 2009 6:42am
hopefully when the us market opens, u get people taking profit off their gold.. and dollar regains a lil strength..
to test 90.5 hopefully 91..
according to bloomberg tv.. today's us market's expected to do well with companies reporting positive earnings..
- #13,385
- Oct 13, 2009 6:55am Oct 13, 2009 6:55am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Hi Traders, 
a cursory glance of this thread reveals that most traders are bullish on this pair today, however, i'm bearish.
a cursory glance of this thread reveals that most traders are bullish on this pair today, however, i'm bearish.
- #13,386
- Oct 13, 2009 6:59am Oct 13, 2009 6:59am
Hi Traders,
a cursory glance of this thread reveals that most traders are bullish on this pair today, however, i'm bearish.
Are you long term position trader or a day trader? Would be interesting to know whats your strategy on this pair at the moment?
- #13,390
- Oct 13, 2009 7:12am Oct 13, 2009 7:12am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Hi Sunshine!!
Are you long term position trader or a day trader? Would be interesting to know whats your strategy on this pair at the moment?
for today i am an intra day trader, meaning...i'm looking at the 15min and 5min charts. i have put on a small short because i'm expecting price to retrace to around 89.70/80. should it reach there then i'll be trading off the 15min chart, looking to short.
if price doesn't retrace to that level, then i'm short anyway.
- #13,392
- Oct 13, 2009 7:24am Oct 13, 2009 7:24am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
yes, the book is written by MR. Market and it's currently up to date...
- #13,395
- Oct 13, 2009 8:59am Oct 13, 2009 8:59am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Hi Pak Tiger,
for today i am an intra day trader, meaning...i'm looking at the 15min and 5min charts. i have put on a small short because i'm expecting price to retrace to around [b]89.70/80....
the current 15 min chart setup is not playing along, so we'll wait.
- #13,399
- Oct 13, 2009 9:29am Oct 13, 2009 9:29am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
Hy .. .
i thing ur short is to fast ! Look risk and profit .. FIBO 0 that meen A is 90.19 and +5 pips that meen stop loss at 90.24 !
U risk is 54 pips .. but first good profit is in 98.34 :/ Fibo ex 127%
You maybe right, i'm too fast... that's what my wife always tell me...
, but since i'm not trading your system it is immaterial to me, however, your observation is noted...thanks.My Stop Loss and Profit Targets are not the same as you mentioned.