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USD/JPY Discussion

  • #13,541
  • Oct 16, 2009 2:00am Oct 16, 2009 2:00am
Quoting sinner-
Hi Inzider, all good.

I actually FORGOT I was holding one last U/J long because of all the excitement on G/U and A/U today. Banked over 200 pips on those pairs in the first few hours of Tokyo and left my U/J to rot!

Well, that "patience" paid off, U/J long is in the green at +10 now and I will look to hold it till SL hit or many pips in green.


GU have many names, but one of those is : the BEAST!
Last weeks been so boring on GU... and now!

Better love FX!

Nice catch!
Keep on filling shopping kart! LOL
http://t1.gstatic.com/images?q=tbn:Y...red_circle.jpg

Later!
  • #13,542
  • Oct 16, 2009 2:08am Oct 16, 2009 2:08am
i just want to ask ur opinion... do you see any sign or retracement for usdjpy? coz i really have a big floating loss, and i want to cut it upon retracement.. thanks..
  • #13,543
  • Oct 16, 2009 3:12am Oct 16, 2009 3:12am
i got buy at 90.78 and TP at 91.16. nice movement form yen
  • #13,544
  • Oct 16, 2009 3:59am Oct 16, 2009 3:59am
Quoting ewbalmonte
i just want to ask ur opinion... do you see any sign or retracement for usdjpy? coz i really have a big floating loss, and i want to cut it upon retracement.. thanks..

I dont see it happening. I myself was stuck in the same situation and had to take big loss . There is no point fighting the trend so i would suggest you to cut your loss and go with the trend!
  • #13,545
  • Oct 16, 2009 4:00am Oct 16, 2009 4:00am
This is the current looks of the u/ from my perspective. We may see some strength in the USD to end the week, but other then that we are looking for more downside movement. The highest I see the potential for this pair to go is 93.72 but more likely 92.51. We are defiently going to be seeing this one down to 87.39 though.
Attached Image (click to enlarge)
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  • #13,546
  • Oct 16, 2009 4:24am Oct 16, 2009 4:24am
Come on guys, please why would you have a big loss at all? The biggest SL you've seen me use here is 80-100 pips trailing! Do you really need any bigger? What even made you short in the first place? She broke up out of consolidation. Wait to short from higher?

I only wanted to quickly check in and say U/J still going strong long +45 pips will leave SL at 90.55 or wherever it is (only a few lots left on for Fri). Benefits of patience. TP is open, I don't believe this 92.5 business, like mentioned will hold here till SL hit or many pips green.

If the market tanks tonight, U/J will gap up big on Monday (my bet). If not I lose 25 pips on 0.3 lot.

Still just holding to my original view: NY close over 90.5 zone = big time bullish.
  • #13,547
  • Oct 16, 2009 4:26am Oct 16, 2009 4:26am
Quoting satutrade
i got buy at 90.78 and TP at 91.16. nice movement form yen
There is a trading technique called "One Night Stand". Something about the highest high for the last something something days on a Friday something something I got my long filled at similar price to yours, but will not TP till Sydney opens on Monday, and even then maybe only half of what's left

PS: Where is sed34, did you give our friend U/J some bipolar medicine man? Please just a few more tablets of whatever you gave I reckon
  • #13,548
  • Oct 16, 2009 4:26am Oct 16, 2009 4:26am
Quoting Pak Tiger
I dont see it happening. I myself was stuck in the same situation and had to take big loss . There is no point fighting the trend so i would suggest you to cut your loss and go with the trend!
...thanks.. what i did i just opened another position so that i can make profit from the upward trend.. and maybe ill just wait for the yen to make some retracement and cut my losses thier..
  • #13,549
  • Oct 16, 2009 4:34am Oct 16, 2009 4:34am
Quoting sinner-
Come on guys, please why would you have a big loss at all? The biggest SL you've seen me use here is 80-100 pips trailing! Do you really need any bigger? What even made you short in the first place? She broke up out of consolidation. Wait to short from higher?

I only wanted to quickly check in and say U/J still going strong long +45 pips will leave SL at 90.55 or wherever it is (only a few lots left on for Fri). Benefits of patience. TP is open, I don't believe this 92.5 business, like mentioned will hold here till SL hit or many pips green....
SInner!!

Not having SL makes one take big losses and i've been guilty of doing that here. I made a wrong call in first place to short it when it was just consolidating so had to pay the price when it shoot up. I generally close my trades quickly (within the same day) so my time frames are not very long but I guess its very suicidal for a intra day trader if you don't place SLs!! Lessons to be learned there!!
  • #13,550
  • Oct 16, 2009 4:35am Oct 16, 2009 4:35am
Quoting Scrmnegl
This is the current looks of the u/ from my perspective. We may see some strength in the USD to end the week, but other then that we are looking for more downside movement. The highest I see the potential for this pair to go is 93.72 but more likely 92.51. We are defiently going to be seeing this one down to 87.39 though.
im just a newb here.. and i really dont understand how u came up with that conclusion.. anyway, i hope you are right
  • #13,551
  • Edited 8:22am Oct 16, 2009 8:10am | Edited 8:22am
the silence is deafening , they say !

looks like everyone is holding their breath for the release of the news ..

an after thought ... yes, this happens all the time ...

  • #13,552
  • Oct 16, 2009 8:46am Oct 16, 2009 8:46am
http://forex.fxdd.com/60404/economic...term-purchases
TIC Long-Term Purchases,
which is the difference in value between foreign long-term securities purchased by US citizens and US long-term securities purchased by foreigners, came in worse than expected. The reading was 28.6B versus its forecast of 30.1B and prior release of 15.3B. The market had a limited reaction to the release.

is this the news that released here in 15 minutes?
im confused
  • #13,553
  • Oct 16, 2009 9:53am Oct 16, 2009 9:53am
1 hr chart .. macd weaking ...
  • #13,554
  • Oct 16, 2009 9:55am Oct 16, 2009 9:55am
sell :

entered at 90.91

target 90.71


caveat emptor
  • #13,555
  • Oct 16, 2009 10:13am Oct 16, 2009 10:13am
Quoting TheArcher
sell :

entered at 90.91

target 90.71


caveat emptor

Mission Accomplished : + 20 pips

  • #13,556
  • Oct 16, 2009 11:10am Oct 16, 2009 11:10am
Quoting TheArcher
Mission Accomplished : + 20 pips
nice, man. i want to take buy at 90.40 and t/p at 91.00 at next monday
  • #13,557
  • Oct 16, 2009 11:11am Oct 16, 2009 11:11am
Quoting sinner-
There is a trading technique called "One Night Stand". Something about the highest high for the last something something days on a Friday something something I got my long filled at similar price to yours, but will not TP till Sydney opens on Monday, and even then maybe only half of what's left

PS: Where is sed34, did you give our friend U/J some bipolar medicine man? Please just a few more tablets of whatever you gave I reckon
i'm still here. I still have my doubts about this pair. it broke above 91, but dropped back below that. i need to see a sustained break above 91, then i'll turn mildly bullish.

This recent up move has me thinking. sell the rallies.

There seems to be a consensus that the breaking point is 93 for the upside to be in play. anything below that is bearish to me.

I'm thinking of this move as corrective. Looking at the 4 hr it looks like we may be headed down again real soon.

But it still needs to stay on medication a bit longer.
  • #13,558
  • Oct 16, 2009 7:24pm Oct 16, 2009 7:24pm
Quoting Pak Tiger
SInner!!

Not having SL makes one take big losses and i've been guilty of doing that here. I made a wrong call in first place to short it when it was just consolidating so had to pay the price when it shoot up. I generally close my trades quickly (within the same day) so my time frames are not very long but I guess its very suicidal for a intra day trader if you don't place SLs!! Lessons to be learned there!!
Pak!! You don,t have to punish yourself for being wrong!
UJ ATR is most of the time less then 100 pips, so even when you are not sure about where to put it you can set a 50 pips SL or less right away.

If you are 50 pips away from entry, the enrty was bad. Don't wait extreme to realise that. Just look at another opportunity and cut lose.

There's not pace for hope on the market!

My friendly word!
Take care!
  • #13,559
  • Oct 17, 2009 1:34am Oct 17, 2009 1:34am
Colleagues! I trade on daily charts. And stop trade for all long positions at 90.49. Below the last daily bar. Sixth bar in the green zone by Super AO.
Attached Image (click to enlarge)
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{Promotion Removed}
  • #13,560
  • Oct 17, 2009 7:29pm Oct 17, 2009 7:29pm
http://i37.tinypic.com/96z02v.jpg


All this bearishness continues to fit the Elliott wave pattern we see in the U.S. Dollar Index charts: Potentially completed five waves down since March 2009.

All that lacks so far is the actual turn, which would be signaled with a dollar rally in five waves

http://www.elliottwave.com/freeupdat...l-at-Hand.aspx#
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