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  • #219,241
  • Mar 24, 2010 9:24am Mar 24, 2010 9:24am
Quoting metlife777
thanks for advice, take a look at GY weekly
do you see that upthrust limited or not?
Weekly in my eyes has not YET turned bullish. We are now trading above the weekly pivot point (currently) and would have to see if we get a weekly close above this before even considering that weekly is bullish.

Quoting dario1002
Hello guys

i took a short on usdjpy @ 91.47 ..... time to cut the loss? any advice?
It really depends on how much heat you're willing to take. I think you could definitely get out at break even or a small profit. I'd get stop in at 92.20/30 to be safe. Don't be greedy, decide NOW where your "pleading" level is. What I mean is, if you're saying "oh god, please just come down to XX.XX and I'll get out of this trade". Figure out where that is and put your limit there and your stop in and forget it... don't change it and be happy when/if you get out.

Quoting profxtrader
I'd take 135.25, but I'm really looking for 134.50.
I doubt you'll see the latter, but the former is a possibility (although I now feel a slim one). Of course, anything could happen.
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  • #219,242
  • Mar 24, 2010 9:28am Mar 24, 2010 9:28am
3 long upper wicks on the hourlyfor the GBPJPY + 1 hour stochs rolling over + 4 hour stochs overbought + USDJPY falling = me thinking we're going to get our move down pretty soon.
Every time you use 'hopium' in a post, God kills a kitten.
  • #219,243
  • Mar 24, 2010 9:32am Mar 24, 2010 9:32am
Quoting Geppy
Weekly in my eyes has not YET turned bullish....
that is why I'm guessing because tech analysis gives a mixed picture now and still I'm bearishly biased until otherwise proved
  • #219,244
  • Mar 24, 2010 9:34am Mar 24, 2010 9:34am
Quoting metlife777
that is why I'm guessing because tech analysis gives a mixed picture now and still I'm bearishly biased until otherwise proved
Realized your question was really if there's any more upward thrust left on weekly and it's definitely a possibility it goes higher, yes.
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  • #219,245
  • Mar 24, 2010 9:47am Mar 24, 2010 9:47am
In my view GY is bipolar right now and is following two trends. I expect it to get into the white dot soon and then retrace back to try the other trend.

I suppose I need to start getting some white dot target areas for the bottom trend also.

I am going to play it bouncing off the two trends favoring one or the other for the next week.

I for sure don't see it following straight up the upward channel at the least, Will probably put targets along the top of the bottom channel
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  • #219,246
  • Mar 24, 2010 9:47am Mar 24, 2010 9:47am
Quoting Geppy
Realized your question was really if there's any more upward thrust left on weekly and it's definitely a possibility it goes higher, yes.
agree but my view that the limit is 138.
Geppy is testing the LTL of broken bearish flag
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  • #219,247
  • Mar 24, 2010 9:48am Mar 24, 2010 9:48am
Quoting profxtrader
I'd take 135.25, but I'm really looking for 134.50.
136.20/30 look reasonable or even lower to 135.60/70

today close above 135.50 may seen another bull?

am done...last short..tired and going to sleepig...

let c how this h4 close...good luck

g
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  • #219,248
  • Mar 24, 2010 10:12am Mar 24, 2010 10:12am
Quoting quecee5
Yep - I'm looking at the daily as well and do agree the ultimate trend is to the downside in fact I have a 5 wave target that could reach 127 by month end. . .

However, I do think we will see at the very minimum a touch of 137/137.50/138.21 to play out the abc correction and the divergence I'm seeing. . .

a 4hr close above 136.45 should seal the deal. . .
  • #219,249
  • Mar 24, 2010 10:12am Mar 24, 2010 10:12am
eheh thanks geppy....

It seemed to me that this b@atch was giving me little hope with that 20 pips correction... and now going up again. I placed my SL @ 92.20, of course i won't be too happy if i get stopped out, but anyway.. let's wait and see
I don't want a job, i want money!
  • #219,250
  • Mar 24, 2010 10:14am Mar 24, 2010 10:14am
Quoting quecee5
mhmmm... bull run isn't done yet though

In fact, there's a flag waiving me higher right now...
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  • #219,251
  • Mar 24, 2010 10:14am Mar 24, 2010 10:14am
Quoting quecee5
Looks like a classic abc correction up after 5 waves down to 134.50 - I'm actually looking for 137.70-138.20 area then a sell-off by month end into 133.50-127 area but that's just what I see. . .
Congrats to all that stayed the course on longs - still think 138.20/46 weekly and and mpp resistance should play out by thursday/friday. . .
  • #219,252
  • Mar 24, 2010 10:16am Mar 24, 2010 10:16am
Quoting Geppy
mhmmm... bull run isn't done yet though

In fact, there's a flag waiving me higher right now...
Nope should reach 137.70/138.21/138.46 area based on what I'm seeing.
A close above 138.50 will see 139.29 attacked in a big way. . . doubtful but possible. . .
  • #219,253
  • Mar 24, 2010 10:18am Mar 24, 2010 10:18am
Quoting quecee5
Nope should reach 137.70/138.21/138.46
Yup, all roughly areas I'm looking to unload.
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  • #219,254
  • Mar 24, 2010 10:21am Mar 24, 2010 10:21am
Quoting Geppy
Yup, all roughly areas I'm looking to unload.
Good man. . .

If we see resistance there then we know that the 3 wave correction is complete and we should look for a continuation of the down move in 5 waves. . .

I'm looking for a rejection in that area and I'm looking for the move to come thru cable buying once we see it test the bottom 1.4770 area. . .
  • #219,255
  • Mar 24, 2010 10:23am Mar 24, 2010 10:23am
UJ looks a bit toppy up here and 1hr and lower TF's look a bit OB atm so I'm looking for a pull back in at 91.50/91 area. . . to test the breakout support. . .
  • #219,256
  • Mar 24, 2010 10:25am Mar 24, 2010 10:25am
DPP just held a test like a champ (at least this first one)
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  • #219,257
  • Mar 24, 2010 10:32am Mar 24, 2010 10:32am
Quoting Geppy
DPP just held a test like a champ (at least this first one)
I have daily dpp at 135.91. . . and I'm sure at some point we will test is it (maybe). . .
  • #219,258
  • Mar 24, 2010 10:34am Mar 24, 2010 10:34am
Quoting quecee5
I have daily dpp at 135.91. . . and I'm sure at some point we will test is it (maybe). . .
Oops, yep... was remembering from earlier but looks like it's been updated. I've been up most of the night...
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  • #219,259
  • Edited 11:16am Mar 24, 2010 10:34am | Edited 11:16am
1st wave level
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  • #219,260
  • Mar 24, 2010 10:40am Mar 24, 2010 10:40am
Quoting quecee5
I have daily dpp at 135.91. . . and I'm sure at some point we will test is it (maybe). . .
Re-tested the breakout line and bounced beautifully. May not see 136 very soon.

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Volumes suggesting more upside too.
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