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USD/JPY Discussion

  • #15,761
  • May 25, 2010 4:43am May 25, 2010 4:43am
Quoting Usdjpy
If it takes a few days to reach the lower end of 88.xx. A good chance to buy. It it tanks fast with one candle, very likely its going to break 88.xx.
I'm sure the lower trend line (on the H1) will break sooner or later....the fibs suggest that 88.68 or perhaps 87.00 could be on target.....
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #15,762
  • May 25, 2010 4:47am May 25, 2010 4:47am
Quoting realjumper
I'm sure the lower trend line (on the H1) will break sooner or later....the fibs suggest that 88.68 or perhaps 87.00 could be on target.....
We shall see whether its a fast break or a slow break. My buying price is 88.20 and buying again if it tanks further to 87.20.
  • #15,763
  • May 25, 2010 4:51am May 25, 2010 4:51am
Quoting Usdjpy
We shall see whether its a fast break or a slow break. My buying price is 88.20 and buying again if it tanks further to 87.20.
I'll see about building longs at the 2 fibs I mentioned, and/or the s/r lines on the day that we get there.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #15,764
  • May 25, 2010 4:54am May 25, 2010 4:54am
Quoting realjumper
I'll see about building longs at the 2 fibs I mentioned, and/or the s/r lines on the day that we get there.
Very soon it'll move. When? Nobody knows. Good luck trading!
  • #15,765
  • May 25, 2010 4:57am May 25, 2010 4:57am
Quoting Usdjpy
Very soon it'll move. When? Nobody knows. Good luck trading!
Good luck to you too man.....and everyone else here
Doing what you like is Freedom. Liking what you do is Happiness.
  • #15,766
  • May 25, 2010 5:15am May 25, 2010 5:15am
So the lower trend line broke. The next stop must be S2 at 89.28 and then S3 at 88.81. The round number of 89.00 might hold things up for a while perhaps......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #15,767
  • May 25, 2010 5:28am May 25, 2010 5:28am
Quoting Usdjpy
Technically speaking, it should already be testing the 88.xx level but for reason unknown, its coming down too slowly.
patience... last time it tested low levels there was intervention from BoJ
When life gives you lemons, make lemonade
  • #15,768
  • May 25, 2010 5:30am May 25, 2010 5:30am
And so it moves: southwards. Getting ready to go long.
  • #15,769
  • May 25, 2010 5:33am May 25, 2010 5:33am
Quoting realjumper
So the lower trend line broke. The next stop must be S2 at 89.28 and then S3 at 88.81. The round number of 89.00 might hold things up for a while perhaps......
So it dropped to with 2 pips of S2 and retreated........I imagine the Japanese govt are staying up late tonight!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #15,770
  • May 25, 2010 5:35am May 25, 2010 5:35am
Quoting Usdjpy
And so it moves: southwards. Getting ready to go long.
long is out of the question unless you plan to lose what you won going short
When life gives you lemons, make lemonade
  • #15,771
  • May 25, 2010 5:41am May 25, 2010 5:41am
Quoting Usdjpy
And so it moves: southwards. Getting ready to go long.
I'm still undecided about this. If it tanks fast, I'll cancel my buy @ 88.20.
  • #15,772
  • May 25, 2010 5:49am May 25, 2010 5:49am
Quoting Usdjpy
I'm still undecided about this. If it tanks fast, I'll cancel my buy @ 88.20.
Yeah, it's one of those things that you'll have to decide at the time....have an advanced (possible)plan doesn't hurt though.....

Meantime I'm looking for a short entry on cable
Doing what you like is Freedom. Liking what you do is Happiness.
  • #15,773
  • May 25, 2010 5:53am May 25, 2010 5:53am
Quoting Usdjpy
If it takes a few days to reach the lower end of 88.xx. A good chance to buy. It it tanks fast with one candle, very likely its going to break 88.xx.
the daily candle
today is to fomar slowly!
  • #15,774
  • May 25, 2010 6:16am May 25, 2010 6:16am
I believe the opening of U.S. stock market, should reach 88.xx! ! !
yet the volatility is low, but ... break!

Asian stock market today was very bad! reason: KOREA 'S ->
  • #15,775
  • May 25, 2010 6:20am May 25, 2010 6:20am
Quoting realjumper
So the lower trend line broke. The next stop must be S2 at 89.28 and then S3 at 88.81. The round number of 89.00 might hold things up for a while perhaps......
Done
Doing what you like is Freedom. Liking what you do is Happiness.
  • #15,776
  • May 25, 2010 6:21am May 25, 2010 6:21am
Quoting Mary Silvert
Asian stock market today was very bad! reason: KOREA 'S ->
Having an effect on the Pound as well.......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #15,777
  • May 25, 2010 6:25am May 25, 2010 6:25am
10a.m. Consumer Confidence should be reason enough to move the mkt to 88.xx. Still watching the candle formation.
  • #15,778
  • May 25, 2010 6:31am May 25, 2010 6:31am
hi, I am new here.

my positions (day trading) :
Long @ 89.30 & 89.35
SL 89.15

Do you guys think it drops more before Consumer Confidence...?
  • #15,779
  • May 25, 2010 6:37am May 25, 2010 6:37am
Quoting Usdjpy
10a.m. Consumer Confidence should be reason enough to move the mkt to 88.xx. Still watching the candle formation.
HOW IS THE FORMATION (candle)?
  • #15,780
  • May 25, 2010 6:47am May 25, 2010 6:47am
Quoting Mary Silvert
HOW IS THE FORMATION (candle)?
Today is a fast candle if it reach 88.xx, it will break it.
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