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USD/JPY Discussion

  • #15,421
  • May 5, 2010 11:24am May 5, 2010 11:24am
sell ... lets see how this goes ..
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  • #15,422
  • May 5, 2010 11:40am May 5, 2010 11:40am
Quoting TheArcher
sell ... lets see how this goes ..
looks closer to oversold on the last 16 bar range for me...a break of the low with volume, id look to go short...until then i doubt it will move much...volume usually starts to drop around this time of day.
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  • #15,423
  • May 5, 2010 11:46am May 5, 2010 11:46am
Quoting Kas1
looks closer to oversold on the last 16 bar range for me...a break of the low with volume, id look to go short...until then i doubt it will move much...volume usually starts to drop around this time of day.
er ... what do u mean by oversold ... i am familiar with the ob/os of rsi, stocs ... abit lost with what u mention above ... is it parameter 16 of say ,rsi ?...

appreciate ur elaboration .. thanks
  • #15,424
  • May 5, 2010 11:56am May 5, 2010 11:56am
Quoting TheArcher
er ... what do u mean by oversold ... i am familiar with the ob/os of rsi, stocs ... abit lost with what u mention above ... is it parameter 16 of say ,rsi ?...

appreciate ur elaboration .. thanks
Im using pivots to see ob/os candles right now...so if i see price close to the bottom quarter i know its closer to oversold(gray zones)...the 16 bars is the hi/low range im looking at
  • #15,425
  • May 5, 2010 12:01pm May 5, 2010 12:01pm
Quoting TheArcher
sell ... lets see how this goes ..
hitting the sack ... close at +7pips
  • #15,426
  • May 5, 2010 3:11pm May 5, 2010 3:11pm
A weekly look at the USDJPY...

The triangle measures down to 55.00 area if somebody was looking for a loooooong term trade on the pair. I would think that 101.35 is going to be pretty tough resistance if it gets that high....
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  • #15,427
  • May 5, 2010 4:35pm May 5, 2010 4:35pm
...there is a bottom that was made march '08 at 9569 that is now acting as resistance on the current uptrend...I would wait for a break above that to start looking to buy long term...101 area target...might see a turn from where it is now, with more confirmation, and a drop to 8697...
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  • #15,428
  • May 5, 2010 5:11pm May 5, 2010 5:11pm
Nice chart Kaz. Thanks for posting. I'm looking for long entries on this pair too.
  • #15,429
  • May 5, 2010 9:22pm May 5, 2010 9:22pm
Sure there was a pull back but the daily trend is still up until it isn't.

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JD
It's Easy To Get In;.. It's Hard To Get Out
  • #15,430
  • May 6, 2010 12:23am May 6, 2010 12:23am
Quoting Kas1
Im using pivots to see ob/os candles right now...so if i see price close to the bottom quarter i know its closer to oversold(gray zones)...the 16 bars is the hi/low range im looking at
so pivot of range of last 16 bars ?

think got the idea, but what's the rationale ?

thanks .
  • #15,431
  • May 6, 2010 12:26am May 6, 2010 12:26am
Quoting uraceulose
Nice chart Kaz. Thanks for posting. I'm looking for long entries on this pair too.

I'm now looking for short entries(intra day). Not being able to get above the daily pp is bearish imo.
  • #15,432
  • May 6, 2010 12:55am May 6, 2010 12:55am
Quoting TheArcher
so pivot of range of last 16 bars ?

think got the idea, but what's the rationale ?

thanks .
yeh h4 timeframe 16 bar high/low range...the high and low is the maximum/minimum of a range...so when price is close to a maximum, I think the odds are less in your favour to keep moving upwards, unless there is a close above the high with confirmation, vise versa for minimum...its just what i decided to use...i think the longer term pivots you use, the stronger, more important the levels will be, but of course you will be waiting around more for price to come close to a level...i tried to find a range that fits my entry timeframe and how long I want my trades to last for...so similar to rsi, if the range low was 0 and the high was 100, then 75 and above is o/b, 25 and below oversold...i find if you use rsi, price can stay oversold on downtrends/uptrends, at least with pivots you can catch the break out of the maximum/minimum...of course nothing works all the time, uj has been moving down lately on decreasing volume...hope that makes sence
  • #15,433
  • May 6, 2010 1:05am May 6, 2010 1:05am
Quoting Kas1
yeh h4 timeframe 16 bar high/low range...the high and low is the maximum/minimum of a range...so when price is close to a maximum, I think the odds are less in your favour to keep moving upwards, unless there is a close above the high with confirmation, vise versa for minimum...its just what i decided to use...i think the longer term pivots you use, the stronger, more important the levels will be, but of course you will be waiting around more for price to come close to a level...i tried to find a range that fits my entry timeframe and how long I...
got it ... thank you very much !

( i'd just stick to stocs/rsi for range play ... make life simpler )

  • #15,434
  • Edited 12:10pm May 6, 2010 11:54am | Edited 12:10pm
demo scalp ...

(couldn't upload at the time of entry ... got some message like "contact ...")
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  • #15,435
  • May 6, 2010 1:20pm May 6, 2010 1:20pm
Is this possible or my broker is wrong. 409 pips????

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  • #15,436
  • May 6, 2010 3:08pm May 6, 2010 3:08pm
Quoting mkrajaci
Is this possible or my broker is wrong. 409 pips????

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It's possible and it happened...but to drop so far, so fast...very unexpected.
  • #15,437
  • May 6, 2010 4:31pm May 6, 2010 4:31pm
is this got any connection with the error on dow ????
  • #15,438
  • May 6, 2010 6:35pm May 6, 2010 6:35pm
if i'm not wrong the dow is allready confirm that there is no error, this is a panic selling and it's happen, believe it. wow this is the craziest jump that i ever see. this is amazing and crazy mate.

and i put more long at this pair, absolutely for long term trading this pair is going up, and this is a very good chance to enter the market. to bad i miss the 88.xx level. i only able to put long at 90.70 but that is enough. and i'm preparing more long if this pair goes down to 87.xx or 88.xx. hopefully my analysis is right.
  • #15,439
  • May 6, 2010 6:57pm May 6, 2010 6:57pm
"there is no error" that i mean is there is no error at the system, but CNBC reports that this jump is coming from a trader that wrongly selling P&G stock. they report that there is a chance that a trader wrongly input "b" for billion instead of "m" for million. well i dont know if this true or not. but investigation is allready running.he3 happy trading every one.
  • #15,440
  • May 6, 2010 8:37pm May 6, 2010 8:37pm
Quoting kongsar168
is this got any connection with the error on dow ????
Of course it has, just check the timing of the spike.
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