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USD/JPY Discussion

  • #16,181
  • Jun 3, 2010 11:11pm Jun 3, 2010 11:11pm
might be a choppy market today
When life gives you lemons, make lemonade
  • #16,182
  • Jun 3, 2010 11:21pm Jun 3, 2010 11:21pm
Quoting Mary Silvert
I'm in a position 89.30 (sell), it seems that my stop is already late! Sadly, prejudice declared!
Sorry to hear that...why no stop order earlier? I think this will go as high as 95 (if I'm not mistaken) or at least 93.50.
  • #16,183
  • Jun 3, 2010 11:46pm Jun 3, 2010 11:46pm
Quoting Mary Silvert
I know it will be hard to wait, but I go to wherever! rule is a rule! win or lose is part of that market!
I've learned that lesson myself...
no stoploss is like swimming in the ocean with no lifejacket or boat...
its too risky to take

http://img.dailymail.co.uk/i/pix/200...DM_800x617.jpg
  • #16,184
  • Jun 3, 2010 11:56pm Jun 3, 2010 11:56pm
Quoting IdentifyTren
I've learned that lesson myself...
no stoploss is like swimming in the ocean with no lifejacket or boat...
its too risky to take

http://img.dailymail.co.uk/i/pix/200...DM_800x617.jpg
not if you are a good swimmer
When life gives you lemons, make lemonade
  • #16,185
  • Jun 4, 2010 12:10am Jun 4, 2010 12:10am
Quoting micho
not if you are a good swimmer
lol.. how far can you swim??
  • #16,186
  • Jun 4, 2010 12:20am Jun 4, 2010 12:20am
Is 93.50 a good price to go short? Or wait till 95? Advice appreciated.
  • #16,187
  • Jun 4, 2010 12:23am Jun 4, 2010 12:23am
Quoting Haymaker
Is 93.50 a good price to go short? Or wait till 95? Advice appreciated.
why do you want to go short? post a chart
  • #16,188
  • Jun 4, 2010 12:37am Jun 4, 2010 12:37am
I think there is good resistance around 93.50 (previous highs of 10th / 13th May). I'm still learning as a go along.
  • #16,189
  • Jun 4, 2010 12:40am Jun 4, 2010 12:40am
Quoting Haymaker
I think there is good resistance around 93.50 (previous highs of 10th / 13th May). I'm still learning as a go along.
no absolutely brother. i didn't mean to come across rude, it's a lot easier to analyze though if we get to see a chart with what you're thinking..the charts tell everything. TF makes a big difference
  • #16,190
  • Jun 4, 2010 12:52am Jun 4, 2010 12:52am
Quoting IdentifyTren
lol.. how far can you swim??
depends on the pace
When life gives you lemons, make lemonade
  • #16,191
  • Jun 4, 2010 1:10am Jun 4, 2010 1:10am
Quoting Haymaker
Is 93.50 a good price to go short? Or wait till 95? Advice appreciated.
good strategy mate.
  • #16,192
  • Jun 4, 2010 1:15am Jun 4, 2010 1:15am
Quoting Haymaker
Is 93.50 a good price to go short? Or wait till 95? Advice appreciated.
what timeframe are you looking at?...I wouldnt trade against the obvious uptrend on the 4hr
  • #16,193
  • Jun 4, 2010 1:24am Jun 4, 2010 1:24am
Quoting Haymaker
Is 93.50 a good price to go short? Or wait till 95? Advice appreciated.
Why are you married to an idea of going short? How do you know that it won't continue to 120?

I would have thought that it makes more sense to make a decision when we get to 93.5/95
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,194
  • Jun 4, 2010 1:34am Jun 4, 2010 1:34am
Quoting realjumper
Why are you married to an idea of going short? How do you know that it won't continue to 120?

I would have thought that it makes more sense to make a decision when we get to 93.5/95
Yes I think you are right. I guess nobody really knows how high or low the yen will go. I'm new to yen and learning.
  • #16,195
  • Jun 4, 2010 1:36am Jun 4, 2010 1:36am
Quoting Kas1
what timeframe are you looking at?...I wouldnt trade against the obvious uptrend on the 4hr
I don't know? Just a beginner. 1 hour and weekly ?
  • #16,196
  • Jun 4, 2010 1:59am Jun 4, 2010 1:59am
Quoting realjumper
Why are you married to an idea of going short? How do you know that it won't continue to 120?

I would have thought that it makes more sense to make a decision when we get to 93.5/95
It is important not to get married to a position. Signs are obviously pointing up and I trade a 4 hour minimum timeframe.
Every time you use 'hopium' in a post, God kills a kitten.
  • #16,197
  • Jun 4, 2010 2:20am Jun 4, 2010 2:20am
Quote
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
Quote
EURCAD closed at +83
Quote
added another short on @GPBUSD at 1.4625 again target 1.4585
USDJPY no change

Adjusted target for GPBUSD 1.4618 for the second trade.
first trade still target 1.4585
When life gives you lemons, make lemonade
  • #16,198
  • Jun 4, 2010 2:30am Jun 4, 2010 2:30am
Quoting Haymaker
I don't know? Just a beginner. 1 hour and weekly ?
i think it still bullish for this pair. but in the middle of bullish trend there is always a minor down trend. and 93.5 and 95.xx is a good resistance level. you can short at this pair. but i would recommend to just take a small TP(50 or 100).after that i think there is a big chance this pair to break 95.xx and go to 97.xx. i believe this would happen in monthly time frame as the Japan experience a bad economy when the Yen is stronger. with the new japan premier i hope japan can get the Yen weaker and the economy back to a healthy condition.

this is just my opinion...
  • #16,199
  • Jun 4, 2010 2:35am Jun 4, 2010 2:35am
Quoting yeri
i think it still bullish for this pair. but in the middle of bullish trend there is always a minor down trend. and 93.5 and 95.xx is a good resistance level. you can short at this pair. but i would recommend to just take a small TP(50 or 100).after that i think there is a big chance this pair to break 95.xx and go to 97.xx. i believe this would happen in monthly time frame as the Japan experience a bad economy when the Yen is stronger. with the new japan premier i hope japan can get the Yen weaker and the economy back to a healthy condition.

this...
Thank you! I'm shorting at those prices. However, I don't think it'll go 97. Are you game for Aussie too?
  • #16,200
  • Jun 4, 2010 2:41am Jun 4, 2010 2:41am
The only reason to resign is there is no solution.
Why do people think a new "Suit" will be able to do what the best efforts of some very bright people were unable to do before.
It is foolish to believe in another empty suit and it is foolish to buy at the high.

Someone is *very* determined to artificially inflate the USD/JPY to this range, and they have the deep pockets to do it for 1 of 2 reasons.

1) They accumulate at this price to sell higher on expected positive news.
2) they are accumulating to drop a water balloon on the USD/JPY during a news announcement by selling all at once.

If anyone wants to go short, put a sell stop under the support and wait for the splash. I should also note that you should wait to do that after the broker has widened the spread minutes before the news announcement.
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