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USD/JPY Discussion

  • #14,821
  • Feb 5, 2010 12:44am Feb 5, 2010 12:44am
Looks like this pair bounced off the 23.6% Fib retracement level (of the 101.xx - 84.xx swing)...just like I expected. I thought it would be in the 88.70s area, but close enough. Can't believe I totally forgot about it. I haven't traded this pair since it thoroughly kicked my ass last week. I'll get back to it next week.

Don't know how it's going to react to the NFP...this pair always behaves funny.
  • #14,822
  • Feb 5, 2010 6:46am Feb 5, 2010 6:46am
tryn to short around 8948...i think 8905 might happen again before week close
  • #14,823
  • Feb 5, 2010 7:54am Feb 5, 2010 7:54am
Quoting Kas1
tryn to short around 8948...i think 8905 might happen again before week close
took my profit at 8906
  • #14,824
  • Feb 5, 2010 9:19am Feb 5, 2010 9:19am
http://i50.tinypic.com/210mwx4.jpg
  • #14,825
  • Feb 5, 2010 9:31am Feb 5, 2010 9:31am
Quoting TheArcher
demo sell scalp
I'm tryn to take another short around 8939
  • #14,826
  • Feb 5, 2010 9:55am Feb 5, 2010 9:55am
http://i47.tinypic.com/4jn993.jpg
  • #14,827
  • Feb 5, 2010 11:07am Feb 5, 2010 11:07am
http://i50.tinypic.com/262r2n4.jpg

took it out with -1 pip loss .....

( its getting late ... need to hit the sack ... anyway my original period for the drop did not pan out )
  • #14,828
  • Feb 5, 2010 2:59pm Feb 5, 2010 2:59pm
Quoting TheArcher

took it out with -1 pip loss .....

( its getting late ... need to hit the sack ... anyway my original period for the drop did not pan out )
It dropped as I expected and my trail stop should of been triggered but for some reason never was...don't know what went on there...very strange
  • #14,829
  • Feb 5, 2010 8:49pm Feb 5, 2010 8:49pm
i'm prety sure for a short time term, this pair is still going down. but for long term still a bullish trend, actualy i want to take a short trade for a short time, to bad i have a long position with a few hundred pips loss(unclosed transaction), so i have to wait until move more low and take more long position. so i just take the up wave.any other perspective guys? please share share with me.
  • #14,830
  • Feb 5, 2010 8:53pm Feb 5, 2010 8:53pm
Quoting yeri
i'm prety sure for a short time term, this pair is still going down. but for long term still a bullish trend, actualy i want to take a short trade for a short time, to bad i have a long position with a few hundred pips loss(unclosed transaction), so i have to wait until move more low and take more long position. so i just take the up wave.any other perspective guys? please share share with me.
i am in the same boat like you. However i put a sell position too, to balance my current loss and will close it once the uptrend starts. I am thinking it will go low next week 86.xx or 87 ?
  • #14,831
  • Feb 5, 2010 10:51pm Feb 5, 2010 10:51pm
don't u hate it when it follows ur plan after u had existed the trade ...

http://i47.tinypic.com/dm9w8g.jpg
  • #14,832
  • Feb 7, 2010 6:36am Feb 7, 2010 6:36am
Quoting TheArcher
don't u hate it when it follows ur plan after u had existed the trade ...

http://i47.tinypic.com/dm9w8g.jpg
yeah i absolutely hate it. but at least i still can get profit from it even though i will need more time.
  • #14,833
  • Feb 7, 2010 2:57pm Feb 7, 2010 2:57pm
looks bearish and am looking for short entries. What You think?
  • #14,834
  • Feb 7, 2010 3:38pm Feb 7, 2010 3:38pm
Yes I too am going to short. Sell at 88.51, TP1 88.17, TP2 87.85, TP3 87.44,
TP4 86.64.

Arjee
  • #14,835
  • Feb 7, 2010 4:11pm Feb 7, 2010 4:11pm
Quoting tomasz
looks bearish and am looking for short entries. What You think?
sure thing. But i am going to wait till it goes a little up, may be 89.50/75 and then go short

Btw, i have learnt something new with USDJPY. For the past 2-3 weeks i have seen that this pair opens on monday with a gap of 20-25 pips and the first candle after opening takes the price back to the friday close price. It happened again this weekend and i made 20 pips in 5 minutes.

friday close 89.23
monday open 89.45
5 mins later 89.20

not sure why it is doing this every week, but its just a quick way to make 20 pips and start the week with a blast
  • #14,836
  • Feb 7, 2010 10:05pm Feb 7, 2010 10:05pm
Quoting tomasz
looks bearish and am looking for short entries. What You think?
I'm waiting for the downtrend to continue...8923-57 is the range im lookn at right now
  • #14,837
  • Feb 7, 2010 10:48pm Feb 7, 2010 10:48pm
Going long from 89.35, TP 89.60
Where there is a will there is a way...
  • #14,838
  • Feb 8, 2010 12:48am Feb 8, 2010 12:48am
http://i45.tinypic.com/15zky38.jpg
  • #14,839
  • Feb 8, 2010 12:56am Feb 8, 2010 12:56am
http://i45.tinypic.com/105y2pl.jpg
  • #14,840
  • Feb 8, 2010 1:19am Feb 8, 2010 1:19am
NO USD news today, should be a easy technical trading day
Where there is a will there is a way...
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