EUR/JPY Anytime!

I think this is becouse China open i hear right now and also price will try to test 200 SMA on 5 min...That is usualy for EURJPY...

in my opinion its failing to change bias to the short , hammer forming off trendline indicates move further north gonna be acostly trade for moi

Hmm i see good PIN on 200 SMA 5 min chart...

What you think ?

I think i should let me trades flow for the TP's or for SL and should sleep now... may be later it will fall from sky i hope

Hahah good idea i also must go to sleep

GooD LuCk EJ Traders.........

OK i must go to sleep and i will share my point of view again for tomorow I hope this is good setup

In this sell risk just 2 % of balance


Good night and Pick some pips in your pocket

what you guys think of this

You should quote ecpulse as source...
And its ecpulse chart, I dont have anything to say... 50% works...

Of course, I could be wrong but my trusty RSI indicator says it's going down for now...

if anyone was in a trade....hope they were on the right side wthe nfp came out...i was already in a eurjpy trade...was down about 30 pips....won 50 pips due to nfp......wqs up about 80-85 pips.....got 2-3
requotes b4 i was able to finally close the trade

hey guys in 15min is an option for a short to close that gap dont u think??

hmmm, well where are all the sell eurjpy now? hope you guys survived the lashing, I have always said technicals is the sure way to go, even fundamental traders lost money and cant understand what happened with market correlation and figures that came out but sound technical was still pointing north, but now I think look for opportunity to short now scalping for small profits..

RSI, personally is a very funny oscillators, i use Stochs instead, overbought RSI does not mean market is coming down,price will come down but not after the buyers have dumped their positions with profit taking, which means RSI could be overbought/oversoft for hours,days,weeks if required. Divergence in oscillators are probably the only leading signals as oscillators are lagging indicators.

Just a hint the chart you posted here for RSI divergence was a bullish one and not bearish, as in divergence and convergences the indicator leads the price and not the other way round ie trend line in your RSI is facing up and the one on price facing downward, should be looking for a buy confirmation.

Well, goodluck everyone, happy piping and glorious hunting.

i'm looking for 135 then 138 and then let's see how it behaves around that level.

i don't have much faith in this level holding yet again...what do you guys think. maybe an upward target of 140-141 is more realistic and then a down move from there?

then again, even if going short at 138 again is not the best trade, judging by the huge downmove from there, maybe the odds are still good for capturing a decent payoff relative to risk. thoughts?

Yea agree,i risk just 2 % of my balance and its ok

ok price closed on FIBO 61.8 we will see next week ...If candle close above fibo price can go to 138,139...

Cheers

You was right, bro...
Peter, use RSI 14 or 21, dont use below that...

Man, what happened is pure news effect.
Before news, EJ was simply following EU.
After news, EJ stopped following EU and started to follow UJ....

The RSI and trendlines drawed by peter is right...
The problem was news effect.

See the below charts and tell me its bullish channel or trend?
The same trendlines on EU, GU and AU...
They followed perfectly with trendlines and breakout..

Same was about EJ, but EJ behaved like UJ....

Of course, I dont believe I am right..
Market is right...

The last one is around 5 hours before news... According to that setup, I given trade.. The below is after news..... s^h#i*t happens...

@Sreeprakash, dont get it twisted was only dropping a hint to a fellow trader, if your techniques works for you fine but remember theres always room for improvements, we try to learn a thing or two from each other or atleast compare studies, on the issue of divergence, it only occurs in extreme levels of oscillators, any occurence in normal levels is regarded as weak and not suitable for trading decisions, I do not take positions based on divergence alone must wait for price via candlesticks confirmation amongst other studies, hope my chart below will do some justice to this arguement and notice bullish signals came well b4 Non Farm Payroll on Friday 4th Dec.http://micahio.blogspot.com/


If above link doesn't work, pls visit http://micahio.blogspot.com/

For the sake of clarity, standard extreme levels refers to above or below the upper and lower limits on indicators ie 80/20 on stochs.

There are probably more than a million ways to trade, personally I only use correlation b/w different instrument to trade stocks not currencies, even at that its just to guage relative performance of a particular stock to its Index or sector ie Barclays to FTSE All share Index.
@Sreeprakash, dont get it twisted was only dropping a hint to a fellow trader, if your techniques works for you fine but remember theres always room for improvements, we try to learn a thing or two from each other or atleast compare studies, on the issue of divergence, it only occurs in extreme levels of oscillators, any occurence in normal levels is regarded as weak and not suitable for trading decisions, I do not take positions based on divergence alone must wait for price via candlesticks confirmation amongst other studies, hope my chart below will do some justice to this arguement and notice bullish signals came well b4 Non Farm Payroll on Friday 4th Dec.

For sake of clarity, standard extreme levels refers to above or below the upper and lower limits on indicators ie 80/20 on stochs.

There are probably more than a million ways to trade, personally I only use correlation b/w different instrument to trade stocks not currencies, even at that its just to guage relative performance of a particular stock to its Index ie Barclays to FTSE All share Index.

Hi Peter.Serbia..

i'm interested with this indicator..
http://img707.imageshack.us/img707/9657/maybebuy.gif

would u like to share it?

pliz