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  • #1,961
  • Apr 17, 2010 12:28am Apr 17, 2010 12:28am
hello guys


i am in the middle of a trade gone bad my trade system shorted EUR/JPY at 127
should i stay in or get out, my account is down by 50% , needs some good advice
  • #1,962
  • Apr 17, 2010 4:27am Apr 17, 2010 4:27am
Does anyone know how to copy VT Trader charts to this forum? Perhaps I could share my views and opinions more clearly.
Right now, I feel that the EURJPY is at a critical, "decision point". Yes, smaller time frames are oversold. So we could see some limited action to the upside targeting the 125.50 to 126ish zone.
However, extreme caution is still required because depending on underlying fundamentals, this EURJPY beast can overshoot shorter time frames oversold / overbought levels by as much as 300 pips. I have seen it happen many times.
Otherwise the bigger time frames i.e. Daily and 4 hourly charts are bearish and we're gonna have to watch Sunday's price action while keeping a listening watch over the events in Greece and the EU in general.
A Daily candle stick close below the 50 EMA line would confirm that bears are indeed in control and we would have to watch the daily support at 123.40ish. Should the bears take out the Daily support at around 123.40 then I see an avalanche down all the way to 121ish.
This is just my personal opinion.
  • #1,963
  • Apr 17, 2010 10:32am Apr 17, 2010 10:32am
Quoting dbaugh
hello guys


i am in the middle of a trade gone bad my trade system shorted EUR/JPY at 127
should i stay in or get out, my account is down by 50% , needs some good advice
How do you shorted E/J @ 127 and account down by 50%? Market closed around 124.5 on Friday. You should be making crazy money!
  • #1,964
  • Apr 17, 2010 11:07am Apr 17, 2010 11:07am
from what i see the price did make a big fall of 400 pips it had a big support point at 123.87 i think what the price will retrace to min fib level 38.2 at 125.30 if it did break it will continue going up if not will go more down to 123.45 as first tp .




http://img339.imageshack.us/img339/9288/an2.gif
  • #1,965
  • Apr 17, 2010 11:08am Apr 17, 2010 11:08am
Quoting ndhoanggia
How do you shorted E/J @ 127 and account down by 50%? Market closed around 124.5 on Friday. You should be making crazy money!
you should be very happy by now man . i guess you mean your ea did buy not sell . i think the price will retrace to min the level i said in my chart 125.30
  • #1,966
  • Apr 18, 2010 4:24pm Apr 18, 2010 4:24pm
80 pips gap!
  • #1,967
  • Apr 18, 2010 5:32pm Apr 18, 2010 5:32pm
my mistake i went long at 124.5


Quoting ndhoanggia
How do you shorted E/J @ 127 and account down by 50%? Market closed around 124.5 on Friday. You should be making crazy money!
  • #1,968
  • Apr 18, 2010 8:44pm Apr 18, 2010 8:44pm
With the whole Goldman Sachs news and JPY is a safe haven currency, I'm not sure if it will go up. Also, my chart looks bearish to me. I am not advising you anything except for always use stoploss. It seems to me that you over leveraged your account, 50% of your account when it dropped around 60 pips from your entry point. Make this a lesson, use stoploss and never risk more than 2 percent of your account per trade. Good luck!
  • #1,969
  • Apr 19, 2010 3:06am Apr 19, 2010 3:06am
It will be a nice area 4 going LONG !





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  • #1,970
  • Apr 19, 2010 6:14am Apr 19, 2010 6:14am
Might we test 122.xx before going back up?
  • #1,971
  • Apr 19, 2010 7:25am Apr 19, 2010 7:25am
I am also long... hey EURJPY, give us a retracement!!
  • #1,972
  • Apr 19, 2010 8:42am Apr 19, 2010 8:42am
It is also Considerable.......




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  • #1,973
  • Edited 10:46am Apr 19, 2010 10:23am | Edited 10:46am
Quoting Cotton-I-Jo
It is also Considerable.......





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How have you got that target of ~127? Fibos? Any pattern (a triple top)?...

(Just trying to learn.)

Thanks,
Mr B
Use me as a contrarian indicator
  • #1,974
  • Apr 19, 2010 1:31pm Apr 19, 2010 1:31pm
finally, online again

i see e/y @ 127... but support @ 123...
  • #1,975
  • Edited 3:27pm Apr 19, 2010 3:09pm | Edited 3:27pm
We just bought EUR JPY at 12460.
Based on upside move that is building momentum. And it fits in the bullish daily candle too. But that is of lesser importance.
Good luck.

Target 12580, stop at 12400
  • #1,976
  • Apr 19, 2010 3:22pm Apr 19, 2010 3:22pm
Quoting quantts
We just bought EUR JPY at 12460.
Based on upside move that is building momentum. And it fits in the bullish daily candle too. But that is of lesser importance.
Good luck.
Target, please?

Thanks,
Mr B
Use me as a contrarian indicator
  • #1,977
  • Apr 19, 2010 5:00pm Apr 19, 2010 5:00pm
if ive done my math correctly...........parabola will be completed around major 50fib around 129.50 area


i will start buying at next pullback, somewhere near 124.45-32
Attached Image (click to enlarge)
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  • #1,978
  • Apr 19, 2010 5:20pm Apr 19, 2010 5:20pm
these parabola patterns are generally completed with a high degree of probability....
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyparaapr19.jpg Size: 105 KB
  • #1,979
  • Apr 19, 2010 8:58pm Apr 19, 2010 8:58pm
The Daily candle closed below 50 EMA. The latest 4 hourly candle (at 20.00 EST) failed to break above resistance that was former support (based on rising treandline) at 124.90ish. The current 4 hour candle stick (closing at 00.00 EST) is having a hard time staying above the 125.00 critical turning point.
The 1 hr chart price action is turning bearish and having difficult breaking above 124.96 (38.2 % retracement from 123.29) from a previous high of 127.66.
As I see it, depending on Germany fundamental data releases due later tonight, this beast could go up or down very, very fast. I am standing aside at the moment.
  • #1,980
  • Apr 19, 2010 9:22pm Apr 19, 2010 9:22pm
Quoting Tsotsi
The Daily candle closed below 50 EMA. The latest 4 hourly candle (at 20.00 EST) failed to break above resistance that was former support (based on rising treandline) at 124.90ish. The current 4 hour candle stick (closing at 00.00 EST) is having a hard time staying above the 125.00 critical turning point.
The 1 hr chart price action is turning bearish and having difficult breaking above 124.96 (38.2 % retracement from 123.29) from a previous high of 127.66.
As I see it, depending on Germany fundamental data releases due later tonight, this beast...
Without any analysis whatsoever, I can also confirm that it could move UP ...or DOWN very fast... when the time comes.
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