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USD/JPY Discussion

  • #16,121
  • Jun 3, 2010 3:23am Jun 3, 2010 3:23am
Quoting Haymaker
I have closed my trade at 92.48. Good profits for a first timer! What is the current sentiment of this pair? Any help appreciated. Should I sell if it reaches 95 ?
hello haymaker we meet again... nice profit you have there, actually this pair is really in a political trivia issue right now. still go up or reverse i dont know about this. but my own target is arround 95.xx or even 97.xx depend on the future fundamental change. but this target is a long term target. this is just my perspective. please share your view also here......

the last news i read at bloomberg is , the japan manufacturing and export is slowing down. this bring a weaker consumer spending also and less demand. so it's your decission now.... .. have a nice trading haymaker...
  • #16,122
  • Jun 3, 2010 3:31am Jun 3, 2010 3:31am
Quoting yeri
hello haymaker we meet again... nice profit you have there, actually this pair is really in a political trivia issue right now....
Wow, you are an expert on the yen ? I heard many traders expecting 95 but I don't think it will reach that high, a reasonable guess is around 93.50.
  • #16,123
  • Jun 3, 2010 3:32am Jun 3, 2010 3:32am
micho

uraceulose

thank you very much for ur TA tutorials ! got a lot of perspective from ur explanations ! learned a lot !

thank you very much .
  • #16,124
  • Jun 3, 2010 3:34am Jun 3, 2010 3:34am
Quoting micho

bear and bull are defined on 4 time frames, the two higher time frames define direction (RSI<50 or >50), the smaller 3rd time frame defines the trend(apply fibonacci to the last significant trend on this time frame), the smallest 4th chart defines the price action and candle signals (take the position after a strong signal on this time frame taking into consideration that your target is at least 2 times further than the last retracement distance)

what are the 4 timeframe ?
  • #16,125
  • Jun 3, 2010 3:37am Jun 3, 2010 3:37am
Quoting Kas1
went long at 92320, 92606 target...looks like a nice uptrend to me...will it continue?
nice run, took my profit at 92606
  • #16,126
  • Jun 3, 2010 3:40am Jun 3, 2010 3:40am
i opened two positions on GPBUSD @1.4701
target for first: 1.4646
target for second: 1.4585

i opened one position on EURCAD @1.2757
target: 1.2685

still two positions open on USDJPY @90 and @89.7
When life gives you lemons, make lemonade
  • #16,127
  • Jun 3, 2010 3:41am Jun 3, 2010 3:41am
i'm not expert, loss a lot of money at this pair.
hmmm, i think it can back to 97 but it need a very long time(perhaps next year or 1 and half year). he3. even i can not predict when but i already prepare from now. at the other side this pair can also back to 89.xx or even lower. but to bad i never take profit from shorting this pair. so i'm not prepared to take profit for this situation, but i already prepared to hold a negative profit if this happen until that situation reverse.

but i can be wrong(i hope i'm not wrong).
btw what currencies are you trading Haymaker? may i know...
  • #16,128
  • Jun 3, 2010 3:42am Jun 3, 2010 3:42am
Quoting TheArcher
what are the 4 timeframe ?
man u chose 4 consecutive frames higher than 1H
When life gives you lemons, make lemonade
  • #16,129
  • Jun 3, 2010 3:45am Jun 3, 2010 3:45am
volume ...

this is one area that is still grey with me ....

my understanding is that the volume cited on the demo account is particluar to the brokerage as it reflects their own players' volume .... it is not the ' universal volume ' . meaning: the total volume of all players , including all other brokerage combined ,in the market ... the volume on, say , alpari is not the same as interbankfx ..... then the analysis based on volume will be less reliable ..?

or is my assumption is wrong ....?

correct me please ..
  • #16,130
  • Jun 3, 2010 3:50am Jun 3, 2010 3:50am
Quoting yeri
btw what currencies are you trading Haymaker? may i know...
I am trading cable, euro, aussie and most recently the yen.
  • #16,131
  • Jun 3, 2010 3:55am Jun 3, 2010 3:55am
Quoting micho
man u chose 4 consecutive frames higher than 1H
so , its ... weekly, daily, 4hrly and 1hrly

analyse on the 3 bigger timeframes and make entry decision based on candlesticks and volume on 1hr chart ... is this correct ..?
  • #16,132
  • Jun 3, 2010 3:55am Jun 3, 2010 3:55am
Quoting TheArcher
volume ...

this is one area that is still grey with me ....

my understanding is that the volume cited on the demo account is particluar to the brokerage as it reflects their own players' volume .... it is not the ' universal volume ' . meaning: the total volume of all players , including all other brokerage combined ,in the market ... the volume on, say , alpari is not the same as interbankfx ..... then the analysis based on volume will be less reliable ..?

or is my assumption is wrong ....?

correct me please ..
you can't see universal volume...there is a volume cycle on the 1hr chart on the broker I use, alpari uk...I think you can pay and get combined volume somehow, not sure...I assume it is different from broker to broker, but I doubt there is much of a difference...I think volume is good for 4hr chart or less...
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  • #16,133
  • Jun 3, 2010 3:55am Jun 3, 2010 3:55am
Quoting TheArcher
volume ...

this is one area that is still grey with me ....

my understanding is that the volume cited on the demo account is particluar to the brokerage as it reflects their own players' volume .... it is not the ' universal volume ' . meaning: the total volume of all players , including all other brokerage combined ,in the market ... the volume on, say , alpari is not the same as interbankfx ..... then the analysis based on volume will be less reliable ..?

or is my assumption is wrong ....?

correct me please ..
You are correct
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,134
  • Jun 3, 2010 3:57am Jun 3, 2010 3:57am
Quoting Haymaker
I have closed my trade at 92.48. Good profits for a first timer! What is the current sentiment of this pair? Any help appreciated. Should I sell if it reaches 95 ?
scratching my head ... when did it hit 92.48 recently ...?
  • #16,135
  • Jun 3, 2010 4:00am Jun 3, 2010 4:00am
range for now ... looking out for either a breakout , up or down ..
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  • #16,136
  • Jun 3, 2010 4:06am Jun 3, 2010 4:06am
@thearcher : very correct....
if we want this kind of information, i think we have to look at a more bigger institution than just our brokerage(i dont know who can supply this information also).

perhaps micho know about this....
  • #16,137
  • Jun 3, 2010 4:07am Jun 3, 2010 4:07am
Kas1

realjumper


thanks
  • #16,138
  • Jun 3, 2010 4:12am Jun 3, 2010 4:12am
Quoting yeri
@thearcher :

perhaps micho know about this....
yes, waiting for micho's take on that ... would be very re-assuring ..

--------------------


another point is about the shape of candlesticks ... i have noticed that the body sizes and shawdows differs in different time zone ... i suppose a real account will show a uniform sized candlesticks regardless of the time zone ... (is this correct?)
  • #16,139
  • Jun 3, 2010 4:13am Jun 3, 2010 4:13am
Quoting TheArcher
volume ...

this is one area that is still grey with me ....

my understanding is that the volume cited on the demo account is particluar to the brokerage as it reflects their own players' volume .... it is not the ' universal volume ' . meaning: the total volume of all players , including all other brokerage combined ,in the market ... the volume on, say , alpari is not the same as interbankfx ..... then the analysis based on volume will be less reliable ..?

or is my assumption is wrong ....?

correct me please ..
i am not sure about that, but i stick to high volume trades
When life gives you lemons, make lemonade
  • #16,140
  • Jun 3, 2010 4:14am Jun 3, 2010 4:14am
Quoting TheArcher
so , its ... weekly, daily, 4hrly and 1hrly

analyse on the 3 bigger timeframes and make entry decision based on candlesticks and volume on 1hr chart ... is this correct ..?
no its monthly weekly daily 4h
When life gives you lemons, make lemonade
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