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USD/JPY Discussion

  • #13,701
  • Oct 28, 2009 4:22am Oct 28, 2009 4:22am
Quoting Dest_unknown
Was stopped out earlier at 91. Should have taken my profits when I had them. Oh well.

Just hanging on the side for now to see what happens, but im looking to go long now from 90.78 (just above 4H trendline support) if we reach it stops at 90.40 targeting 92.30 to 93?
93 is too high?
  • #13,702
  • Oct 28, 2009 4:27am Oct 28, 2009 4:27am
Thats what im thinking but i guess see if it breaks 92.30 first?
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  • #13,703
  • Oct 28, 2009 4:42am Oct 28, 2009 4:42am
overall daily trend pointing down, short term support line broken. i'm currently short on this pair. have a look at the attached picture.
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  • #13,704
  • Oct 28, 2009 5:09am Oct 28, 2009 5:09am
I decided to open my long early at 91.15. It doesnt look like we'll make it down to 90.78 unless durables come in worse than expected. In the event they come in horrible I have my stops at 90.60...... time to sit back and wait for a while...
  • #13,705
  • Oct 28, 2009 5:41am Oct 28, 2009 5:41am
Doesn't look like Durables had too much of an affect, I think USD is at the stage where good news means nothing and bad news is the harbinger of doom. Perhaps new home sales will spur a larger move, hopefully to the downside .
  • #13,706
  • Oct 28, 2009 5:59am Oct 28, 2009 5:59am
Quoting belekas
Holding a short from 91.65 myself. Bear wedge broken. 4hr MACD pointing down towards the lows at 90.07 / Stop protected, so lets see what happens.
1/2 closed for +50 pips profit. Remaining will run till my TP, or SL at entry price gets hit.
  • #13,707
  • Oct 28, 2009 6:17am Oct 28, 2009 6:17am
The news seem like take no effect on the USDJPY, what do you all think about home sales?
  • #13,708
  • Oct 28, 2009 1:02pm Oct 28, 2009 1:02pm
who here still insists this pair is in an up trend?
  • #13,709
  • Oct 28, 2009 1:59pm Oct 28, 2009 1:59pm
Quoting sed34
who here still insists this pair is in an up trend?
We are neither in an up-trend or down-trend in my view, this is a corrective a-b-c pattern happening. Currently in wave b down on the daily, still expecting a wave c up before any new impulsive trend begins.

Wait for US GDP figures to come out before "insisting" either way
  • #13,710
  • Oct 28, 2009 3:02pm Oct 28, 2009 3:02pm
Quoting sinner-
We are neither in an up-trend or down-trend in my view, this is a corrective a-b-c pattern happening. Currently in wave b down on the daily, still expecting a wave c up before any new impulsive trend begins.

Wait for US GDP figures to come out before "insisting" either way
You're correct in stating that we are in a "down" wave, however there is not necessarily a requisite upswing directly following this wave before resuming in the downtrend from Sept. 9 to Oct. 7. It would appear we are in danger of closing below the stumbling ground (plateau) from Oct. 16 -21, which I would argue was wave b. My MACD and stochastics are both detailing a move downward, most likely the 90 level by the end of this week if not tonight and tomorrow. If it blows out that level, I can firming attest that the downtrend has definitively resumed.
  • #13,711
  • Oct 28, 2009 11:34pm Oct 28, 2009 11:34pm
does anyone here have an idea if uj will still continue its bearish movement? im hoping it will
  • #13,712
  • Oct 29, 2009 3:05am Oct 29, 2009 3:05am
Quoting belekas
1/2 closed for +50 pips profit. Remaining will run till my TP, or SL at entry price gets hit.
Remaining 1/2 closed by trailing stop for a total of +100 pips profit, as price missed my TP by 9 odd pips.
  • #13,713
  • Oct 29, 2009 4:42am Oct 29, 2009 4:42am
Quoting belekas
Remaining 1/2 closed by trailing stop for a total of +100 pips profit, as price missed my TP by 9 odd pips.
congrats, i'm looking to go short again soon after the correction. Are you planning on doing the same or done for the week?
  • #13,714
  • Edited 6:06am Oct 29, 2009 5:26am | Edited 6:06am
Quoting rainingpips
congrats, i'm looking to go short again soon after the correction. Are you planning on doing the same or done for the week?
Thank you. Why not. I have freshly gained profits, so i will risk some if we get back to 91.32 for a short. If price doesnt exceed this level that is also .50 fibo of the fall, then we have a possibility turning into HnS.
edit: closed at entry level. daily inverted HnS(bull) is in the play. Shame my long of the bottom was missed by only 9 pips ;/
  • #13,715
  • Oct 29, 2009 9:28am Oct 29, 2009 9:28am
my stop was exactly 2.9 pips below the big rebound today . bummer.
  • #13,716
  • Oct 29, 2009 8:18pm Oct 29, 2009 8:18pm
http://i35.tinypic.com/15yusjp.jpg
  • #13,717
  • Oct 29, 2009 8:39pm Oct 29, 2009 8:39pm
http://i38.tinypic.com/2uomkb6.jpg
  • #13,718
  • Edited 9:31pm Oct 29, 2009 9:18pm | Edited 9:31pm
demo
sell:

sl:91.44
ep: 91.24
tp: 91:04 (tentative)

caveat emptor
  • #13,719
  • Oct 29, 2009 10:19pm Oct 29, 2009 10:19pm
Quoting TheArcher
demo
sell:

sl:91.44
ep: 91.24
tp: 91:04 (tentative)

caveat emptor
ok this is the demo trade. are you trading this pair with real money or are you perfecting your strategy first?
  • #13,720
  • Oct 29, 2009 11:15pm Oct 29, 2009 11:15pm
Quoting TheArcher
demo
sell:

sl:91.44
ep: 91.24
tp: 91:04 (tentative)

caveat emptor
I'd like to know what type of leverage you're using as well, as it seems your tp are relatively low. Are you trading from pivot to pivot (e.g. todays FPV is 91.11, w/ MR1 @ 91.37 and MS1 @ 90.85; difference from FPV of 26 pips to both mid-levels). Personally, this is one of the logics in my trading stratagem, however I always set tp about 3-5 pips above/below a level or mid-level.
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