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USD/JPY Discussion

  • #16,141
  • Jun 3, 2010 4:14am Jun 3, 2010 4:14am
this pair could go all the way to 93.60 the way its moving atm...

http://1.bp.blogspot.com/_8texnURUcC...oggerForex.bmp
  • #16,142
  • Jun 3, 2010 4:23am Jun 3, 2010 4:23am
Quoting micho
no its monthly weekly daily 4h
Beautiful !! Thank you !!

so its ...

(take the position after a strong signal on this, 4Hr ,time frame taking into consideration that your target is at least 2 times further than the last retracement distance)

is this correct ?
  • #16,143
  • Jun 3, 2010 4:24am Jun 3, 2010 4:24am
Quoting TheArcher
scratching my head ... when did it hit 92.48 recently ...?
Eh? The price is now 92.67.
  • #16,144
  • Jun 3, 2010 4:28am Jun 3, 2010 4:28am
up up up up up, more up. he3.
  • #16,145
  • Jun 3, 2010 4:32am Jun 3, 2010 4:32am
Quoting Haymaker
Eh? The price is now 92.67.
yes u are right ...

my MT4 is stuck at 2300hrs 2nd June 2010 ! (see previous chart !! )

now looking at fxcm.com charts ... 92.68 now !

this is the second time i am having this issue ... need to check into this ... !!!!
  • #16,146
  • Jun 3, 2010 4:33am Jun 3, 2010 4:33am
I will be shorting at 93.50 with a stop at 93.70. Any comments?
  • #16,147
  • Jun 3, 2010 4:35am Jun 3, 2010 4:35am
Quoting TheArcher
Beautiful !! Thank you !!

so its ...

(take the position after a strong signal on this, 4Hr ,time frame taking into consideration that your target is at least 2 times further than the last retracement distance)

is this correct ?
well if weekly+monthly RSI >50 then sentiment bullish
if <50 its bearish

u search the last significant trend in the daily chart apply fibos then wait for a signal on the 4H chart


on the other hand if weekly+daily are matching, u can play a trend on the 4H chart and wait for signal on 1h chart
When life gives you lemons, make lemonade
  • #16,148
  • Jun 3, 2010 4:43am Jun 3, 2010 4:43am
Quoting micho
well if weekly+monthly RSI >50 then sentiment bullish
if <50 its bearish

u search the last significant trend in the daily chart apply fibos then wait for a signal on the 4H chart


on the other hand if weekly+daily are matching, u can play a trend on the 4H chart and wait for signal on 1h chart
thank you very much for ur very valuable tutorial .

yours, very humbly ....


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

RSI parameters ?
  • #16,149
  • Jun 3, 2010 4:50am Jun 3, 2010 4:50am
Quoting uraceulose

..and also archer..all of those formations that you posted MADE UP TOGETHER make price action. it's not just one candle or even a couple, usually you're looking back 15-hundreds of bars..
now I know what 'price action' means . thanks .
  • #16,150
  • Jun 3, 2010 4:53am Jun 3, 2010 4:53am
Quoting Haymaker
I will be shorting at 93.50 with a stop at 93.70. Any comments?
trade carefully.. we've got couple of important US economic news coming out, Bernanke speaks, and G20 meeting
  • #16,151
  • Jun 3, 2010 5:00am Jun 3, 2010 5:00am
Quoting IdentifyTren
trade carefully.. we've got couple of important US economic news coming out, Bernanke speaks, and G20 meeting
Thanks for the reminder. I almost forgot its fundamentals at play for the yen. I have not much experience with this. Learning as I go along.
  • #16,152
  • Jun 3, 2010 5:28am Jun 3, 2010 5:28am
Quoting TheArcher
thank you very much for ur very valuable tutorial .

yours, very humbly ....


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

RSI parameters ?
me too, please keep in mind that u need alot of patience, courage and confidence.

use open and close for the trend identification and while applying fibos instead of high and low

high and low are not accurate.
When life gives you lemons, make lemonade
  • #16,153
  • Jun 3, 2010 5:38am Jun 3, 2010 5:38am
Quoting yeri
... he3.
Hi Yerri, for a long time wanted to ask, always forgot but now: Pls, what does the "he3" stand for?
thnks, you know, my poor English...
  • #16,154
  • Edited 6:11am Jun 3, 2010 5:48am | Edited 6:11am
Quoting micho
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
EURCAD Adjusted target to 1.2671 (stop loss at BE now)
GPBUSD short positions still looking strong
USDJPY looking
When life gives you lemons, make lemonade
  • #16,155
  • Jun 3, 2010 6:23am Jun 3, 2010 6:23am
is it now?
Data from the United States will be reasons for this fix?
Attached Image (click to enlarge)
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  • #16,156
  • Jun 3, 2010 6:26am Jun 3, 2010 6:26am
Quoting Mary Silvert
is it now?
Data from the United States will be reasons for this fix?
there should be a fix to this madness... there is always bank intervention from Tokyo everytime USDJPY reaches 89

incredible
When life gives you lemons, make lemonade
  • #16,157
  • Jun 3, 2010 7:36am Jun 3, 2010 7:36am
micho: what kind of intervention did the japan gov do last time when the USD/JPY pair goes to 89.xx? i can not find anynews for the intervention. perhaps i miss something... please share...
  • #16,158
  • Jun 3, 2010 7:56am Jun 3, 2010 7:56am
Quoting yeri
micho: what kind of intervention did the japan gov do last time when the USD/JPY pair goes to 89.xx? i can not find anynews for the intervention. perhaps i miss something... please share...
i dont know but i had a similar few months before at that same level where technicals were pointing down but intervention from BoJ pushed price higher when the BoJ governor made a bullshit speech bla bla bla

it should retrace soon, then i will close my trades
When life gives you lemons, make lemonade
  • #16,159
  • Jun 3, 2010 8:19am Jun 3, 2010 8:19am
Quoting micho
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
Quote
EURCAD Adjusted target to 1.2671 (stop loss at BE now)
GPBUSD short positions still looking strong
USDJPY looking

GPBUSD 1 position closed at 1.4646 +55
second position still open target 1.4585 stop at break even @1.4701

EURCAD still short open at @1.2757 target is 1.2671 stop at break even.

USDJPY no change
When life gives you lemons, make lemonade
  • #16,160
  • Jun 3, 2010 10:24am Jun 3, 2010 10:24am
War could break out at any time- North Korean diplomat According to a Dow Jones headline.

Look for the headlines to add to “risk-off” sentiment http://cdn.forexfactory.com/images/misc/progress.gif
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