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USD/JPY Discussion

  • #14,141
  • Dec 15, 2009 11:23pm Dec 15, 2009 11:23pm
Quoting adie1976
Hello guys

I'm in a short position @89.89, todays the price has just moved down and make me +40ish. Is it going down for sure ?

I'm also have a quote news about japan
HEADS UP: Japan's machine tool orders for November to be released at 6:00 GMT

Any suggest

Really appreciate
this is what i am thinking .....

http://i46.tinypic.com/161hpgi.jpg

CAVEAT EMPTOR !
  • #14,142
  • Dec 15, 2009 11:36pm Dec 15, 2009 11:36pm
Thank you very much sed34 !

just a few more questions for clarity ....

Quoting sed34
a major trend line held. that enable the long position. It was strong.
which major trend-line ?

Quoting sed34
Technically the pound looked weak. so that further confirmed the rise of the U/J.
how did u judge "weakness" ?

Quoting sed34

I'm playing off the 2hr chart.
why 2hrs chart ? MT4 does not have one ... : (


Quoting sed34
i will post the chart later to show you.
thank you ! thank you ! thank you! .... would love to see them ...!

  • #14,143
  • Dec 15, 2009 11:38pm Dec 15, 2009 11:38pm
Quoting TheArcher
this is what i am thinking .....

CAVEAT EMPTOR !
Thx archer

Thats really help me. im sure without any news from jpy in the calendar we can expect short till the usd news comes out
Guide me please
  • #14,144
  • Dec 16, 2009 1:23am Dec 16, 2009 1:23am
Personally, I don't use metatrader. There's no reason for me too. Metatrader can display 2 hr chart. You need a multiplier script. Attached is the script. put it in the script folder. Crogram Files/MetaTrader/experts/scripts

I fib. last rise of the U/J. The 50% Retracement was at 88.58. The arrow point to the candle that reached the 61.8%. That was the bottom and started the trend line support. I bought when the candle reached the 3rd point(see up arrow). 88.42

The MACD was signaling the end of the down wave. 3 confirmations.

Attached is the chart. It doesn't get any clearer than this. And you can see the trend line held each 2hr candle and went up with it. Prices was above the 200 SMA. Went for 100 pips. Very tight stop. 88.32 The bottom of the candle with the down arrow. That was the swing bottom. Great risk:reward. Don't get me wrong, this pair is still in a major down trend.

Now this is my tertiary pair and as such I don't trade it often. But the beast I trade on a 5 minute intraday chart. It was looking like a breakout to the upside was in order. Since I saw the U/J was ripe for a rise, I knew relatively speaking the pound would be weak. It has been ranging all day.



Attached Image (click to enlarge)
Click to Enlarge Name: uj.PNG Size: 87 KB
Attached File(s)
File Type: mq4 period_converter.mq4   6 KB | 261 downloads
File Type: ex4 period_converter.ex4   6 KB | 245 downloads
  • #14,145
  • Dec 16, 2009 1:28am Dec 16, 2009 1:28am
Quoting TheArcher
this is what i am thinking .....

http://i46.tinypic.com/161hpgi.jpg

CAVEAT EMPTOR !
You like to use traps. that can delay your entries big time depending on the size of the trap.
  • #14,146
  • Dec 16, 2009 1:53am Dec 16, 2009 1:53am
It was just 1pip shy of touching 90, i think it will break the 90 level today for sure... hopefully
Where there is a will there is a way...
  • #14,147
  • Dec 16, 2009 1:54am Dec 16, 2009 1:54am
Ascending triangle can be seen on 4hr timeframe. Just wait for it breakout
Attached Image (click to enlarge)
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  • #14,148
  • Dec 16, 2009 2:12am Dec 16, 2009 2:12am
Quoting nimmu1982
It was just 1pip shy of touching 90, i think it will break the 90 level today for sure... hopefully
mmm didnt see that.thx mate

i've short on 89.50, will it be go low first before breaks itdup

i intend to closed just BEP
Guide me please
  • #14,149
  • Dec 16, 2009 2:55am Dec 16, 2009 2:55am
Quoting nimmu1982
It was just 1pip shy of touching 90, i think it will break the 90 level today for sure... hopefully
Well Predict mate , going long now, its just break

is it reasonable enough if i set TP for 90.3 ?
Guide me please
  • #14,150
  • Dec 16, 2009 2:57am Dec 16, 2009 2:57am
Quoting adie1976
Well Predict mate , going long now, its just break
Well its too obvious its going up. Feel sorry about your sell trade, hope you closed it and martingle trade a buy to cover up
Where there is a will there is a way...
  • #14,151
  • Dec 16, 2009 3:10am Dec 16, 2009 3:10am
I did note a very strong weekly S/R @ 89.875 area. It bounced off it already, you may get some resistance there. Hard to say, I got some pips off this earlier trading down off that bounce, sadly one trade that would have given me 40 got stopped out just above break even because I moved it down ASAP.
|/ Dream as if you'll live forever... Live as if you'll die today. \|
  • #14,152
  • Dec 16, 2009 3:23am Dec 16, 2009 3:23am
Quoting nimmu1982
Well its too obvious its going up. Feel sorry about your sell trade, hope you closed it and martingle trade a buy to cover up
so kind of you,its ok mate at least ive got knowledge & experience its priceless
Just closed my short for -26 pip lol and yes i'm long now.

thx
Guide me please
  • #14,153
  • Dec 16, 2009 3:34am Dec 16, 2009 3:34am
Quoting adie1976
so kind of you,its ok mate at least ive got knowledge & experience its priceless
Just closed my short for -26 pip lol and yes i'm long now.

thx
are you serious ? Going long near Resistance Lv ?
  • #14,154
  • Dec 16, 2009 3:50am Dec 16, 2009 3:50am
Quoting adie1976
so kind of you,its ok mate at least ive got knowledge & experience its priceless
Just closed my short for -26 pip lol and yes i'm long now.

thx
I see in your profile you are senior to me and Your using Dukascopy broker, Dukascopy is my dream brokerage for the future.

Well i hope easy ride to the north side on usdyen today. If it breaks 90... I hope to close at 90.35 or so.
Attached Image (click to enlarge)
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Where there is a will there is a way...
  • #14,155
  • Dec 16, 2009 4:07am Dec 16, 2009 4:07am
Quoting nimmu1982
I see in your profile you are senior to me and Your using Dukascopy broker, Dukascopy is my dream brokerage for the future.

Well i hope easy ride to the north side on usdyen today. If it breaks 90... I hope to close at 90.35 or so.
Attachment
wow thx for the chart mate

nahh hehe, im just small player not senior, or maybe the senior of loss hehe. the only experience i've got is loss and loss
well someday you'll be in ur dream broker for sure mate.

well nothing sure everything in the forex games but at least im trying the most reasonable action. thx for the tp mate
Guide me please
  • #14,156
  • Dec 16, 2009 4:11am Dec 16, 2009 4:11am
Quoting FXTheOne
are you serious ? Going long near Resistance Lv ?
well apart from serious or not, im holding long now mate hehe
nothing sure mate, just try my luck
i've been reading from the forum, analysis and other guys chart so, this is my action.if its go down, i'll short it then.
Guide me please
  • #14,157
  • Dec 16, 2009 4:30am Dec 16, 2009 4:30am
Quoting adie1976
well apart from serious or not, im holding long now mate hehe
nothing sure mate, just try my luck
i've been reading from the forum, analysis and other guys chart so, this is my action.if its go down, i'll short it then.
Well do not worry much about USDJPY, it has a very easy non-risky price action compared to other pairs, You'll get plenty of time to decide what to do next. Its my favorite pair and the only pair i trade in forex.
Where there is a will there is a way...
  • #14,158
  • Dec 16, 2009 4:34am Dec 16, 2009 4:34am
Quoting adie1976
well apart from serious or not, im holding long now mate hehe
nothing sure mate, just try my luck
i've been reading from the forum, analysis and other guys chart so, this is my action.if its go down, i'll short it then.
I mean.. Why don't you wait just little bit more for clear signals? Anyway, good luck bro I'm still waiting
  • #14,159
  • Dec 16, 2009 4:40am Dec 16, 2009 4:40am
Quoting FXTheOne
I mean.. Why don't you wait just little bit more for clear signals? Anyway, good luck bro I'm still waiting
oh yes sorry, im facing language barrier i think hehe
well, emotion that is hehe then i forgot the signal things
but its fine now mate, i have +3pips for long and holding short +12 currently coz m15 shows doji then dark cloud

thx for the notice mate
Guide me please
  • #14,160
  • Dec 16, 2009 9:19am Dec 16, 2009 9:19am
I m preffering shorts at the moment.
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