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USD/JPY Discussion

  • #16,001
  • May 31, 2010 6:01pm May 31, 2010 6:01pm
Quoting micho
Trendlines don't work in the markets, you have to follow FIBONACCI... + price action + volume + market sentiment

Everything else doesn't count technically except bank intervention.

Now watch and see how it should touch the red line before doing reverting back up.

it is magic my friend
quote "The only opinion that counts is the opinion of the majority of market participants. Ultimately our job as traders is to figure out the opinion of the majority and join the move before it runs out of steam."

500pips profit was there

http://4.bp.blogspot.com/_8texnURUcC...oggerForex.bmp
  • #16,002
  • May 31, 2010 6:16pm May 31, 2010 6:16pm
Quoting micho
Trendlines don't work in the markets, you have to follow FIBONACCI... + price action + volume + market sentiment
And if you follow those, you get a TREND....which can be observed by watching TRENDLINES........
Attached Image (click to enlarge)
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,003
  • May 31, 2010 6:31pm May 31, 2010 6:31pm
I use trendlines also. And Pivot #'s and Fibs.

To each his own, I guess.
  • #16,004
  • May 31, 2010 6:38pm May 31, 2010 6:38pm
Quoting Leche Mocha
I use trendlines also. And Pivot #'s and Fibs.

To each his own, I guess.
Exactly.....to each his own. There is no place to deride others methods whilest championing one's own method.

I might be mistaken but I believe that this forum is to exchange ideas, methods etc etc.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,005
  • May 31, 2010 8:08pm May 31, 2010 8:08pm
Can anyone clarify why the sudden movement on all the main currency pairs, I don't see any news on forexfactory?

(im a noob)
  • #16,006
  • May 31, 2010 8:28pm May 31, 2010 8:28pm
reading this forum very funny to see many recipes magic formulas and several teachers in forex! wants better place than this to learn forex??
  • #16,007
  • May 31, 2010 9:17pm May 31, 2010 9:17pm
well i got a lot of lesson here in this thread, i wonder if there is another place that can teach me much more. guys where do you learn you technic?
i start my study at www.babypips.com, but as the name is baby i think it was really good for me as a beginner, but i believe there is much more resources to learn forex, i hope you guys can share me more of your knowledge, and i hope you can share your resources also.

anyway: USD/JPY still wandering at 91.xx with sometime goes back to 90.9x, i read a news yesterday, that US will delay to raising cash rate. this is bad.
but i believe the increase will happen soon or later, but at least when the probability for the cash rate to increased more speculative trade support the USD.
another news is about the North korean tension, i dont what this news relation to USD or JPY, but this event giving some reaction to this pair, perhaps you guys knows someting? please share with me.


the final news i get is this : http://preview.bloomberg.com/news/20...y-decline.html
this news amazing, even if the USD/JPY is allready at 91.xx level the country still hurted by his own currency, so perhaps 97.xx or even 100.xx will make this country back to his best condition.
  • #16,008
  • May 31, 2010 9:36pm May 31, 2010 9:36pm
Quoting kia4ever
Can anyone clarify why the sudden movement on all the main currency pairs, I don't see any news on forexfactory?

(im a noob)
maybe that's why:
http://www.fxstreet.com/news/forex-n...0-d04e431fc7c1
  • #16,009
  • May 31, 2010 9:42pm May 31, 2010 9:42pm
Quoting Usdjpy
Yup. A minor bull now. Candle is pretty accurate !
where is the master of the candles? he disappeared! I learned a lot from him!
  • #16,010
  • May 31, 2010 9:53pm May 31, 2010 9:53pm
Quoting Mary Silvert
where is the master of the candles? he disappeared! I learned a lot from him!

hey may be suspended due to a multiple user name offense...careful
  • #16,011
  • May 31, 2010 10:12pm May 31, 2010 10:12pm
Previous resistance now becomes support.......
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,012
  • May 31, 2010 10:53pm May 31, 2010 10:53pm
Quoting micho
i've rolled two shorts on GPBJPY @132.64

target for the first: 131.93
target for the second: 131.29
First target hit +78
Second short still open target 131.29, stop loss at break even.

Still have 2 shorts on USDJPY @82.72 and @90.00 looking to close both at 90.05 for a total of -34.

Also from last week one short on AUDCAD @0.88133 target 0.8689

And one trade from yesterday long USDCHF @1.15566 target 1.15910

When life gives you lemons, make lemonade
  • #16,013
  • Jun 1, 2010 1:33am Jun 1, 2010 1:33am
Quoting IdentifyTren
I'm making a point here to you that we're here to help each other..
its not about bragging how much pips you can make...

micho, think about how you feel if someone on this thread called you a "fool"?? just like how you did couple days ago because they didn't follow your style of trading
i am helping you avoid your account being wiped out you know... if you see that its going to rain and some people are walking without umbrella you can give them advice...
When life gives you lemons, make lemonade
  • #16,014
  • Jun 1, 2010 1:36am Jun 1, 2010 1:36am
Quoting micho
i am helping you avoid your account being wiped out you know... if you see that its going to rain and some people are walking without umbrella you can give them advice...
yes but it's one thing to say "hey bro, it's raining. want an umbrella?"

it's another to say "hey, dumb ass..no one likes to get wet and who the heck wouldn't bring an umbrella when it hasn't rained in 6 months?"
  • #16,015
  • Jun 1, 2010 1:47am Jun 1, 2010 1:47am
Quoting uraceulose
yes but it's one thing to say "hey bro, it's raining. want an umbrella?"

it's another to say "hey, dumb ass..no one likes to get wet and who the heck wouldn't bring an umbrella when it hasn't rained in 6 months?"
they better learn it the hard way because they keep doing the same mistakes, besides i never said dumb ass.... come on... i have my style but i dont say curses
When life gives you lemons, make lemonade
  • #16,016
  • Jun 1, 2010 1:49am Jun 1, 2010 1:49am
Quoting micho
they better learn it the hard way because they keep doing the same mistakes, besides i never said dumb ass.... come on... i have my style but i dont say curses
my feelings aren't hurt man. i'm just sayin. fool or dumbass what's the diff? either way it's an insult

and hey on this note..lets just let it go. you have good reasoning obviously for going long. trade what you see, we will do the same and in the end one or both will learn from each other
  • #16,017
  • Jun 1, 2010 1:59am Jun 1, 2010 1:59am
Quoting uraceulose
my feelings aren't hurt man. i'm just sayin. fool or dumbass what's the diff? either way it's an insult

and hey on this note..lets just let it go. you have good reasoning obviously for going long. trade what you see, we will do the same and in the end one or both will learn from each other
hell no i dont have a reasoning for going long on USDJPY...
When life gives you lemons, make lemonade
  • #16,018
  • Jun 1, 2010 2:04am Jun 1, 2010 2:04am
Quoting micho
hell no i dont have a reasoning for going long on USDJPY...
whatever man, i'm done. go short then, make a million. i don't give a phuck and by the way, i'm up over a 1000 pips too for May..au short from 8750 was posted other places and closed @ 8100
  • #16,019
  • Jun 1, 2010 2:08am Jun 1, 2010 2:08am
Quoting micho
First target hit +78
Second short still open target 131.29, stop loss at break even.

Still have 2 shorts on USDJPY @82.72 and @90.00 looking to close both at 90.05 for a total of -34.

Also from last week one short on AUDCAD @0.88133 target 0.8689

And one trade from yesterday long USDCHF @1.15566 target 1.15910

okay

USDJPY still pending, target still at 91.07
AUDCAD still on target 0.8689
USDCHF Closed for +21 @1.1580
EURGPB +32 on a short earlier today
When life gives you lemons, make lemonade
  • #16,020
  • Jun 1, 2010 2:27am Jun 1, 2010 2:27am
took the plunge off the fibo61.8%
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