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USD/JPY Discussion

  • #16,241
  • Jun 4, 2010 2:00pm Jun 4, 2010 2:00pm
its 3am here ... need to get ready for tomorrow ... hitting the sack .
  • #16,242
  • Jun 4, 2010 2:03pm Jun 4, 2010 2:03pm
Quoting TheArcher
its 3am here ... need to get ready for tomorrow ... hitting the sack .
take care man, have a good weekend all
  • #16,243
  • Jun 4, 2010 2:15pm Jun 4, 2010 2:15pm
Quoting uraceulose
a long order i had was just triggered. i don't recommend following me on this one
since it's so close to the close for the week, i'm only up 10 pips atm but I'm moving my stop to BE+1..i got in with a spread of 1.5 so almost a free trade no matter what
  • #16,244
  • Jun 4, 2010 4:02pm Jun 4, 2010 4:02pm
hummm, nice move up. My target is still valid mid 93 on Tuesday. Lets see...

I have a feeling most people is short on this pair.
  • #16,245
  • Jun 4, 2010 4:36pm Jun 4, 2010 4:36pm
Quoting Tradertuga
hummm, nice move up. My target is still valid mid 93 on Tuesday. Lets see...

I have a feeling most people is short on this pair.
http://img683.imageshack.us/img683/1...djpy060410.jpg

yep, closed slap bang on the fib for the day.

Im also long at the moment with a similar target. Will let it go, and go short for the fib extention and the low from June 1st ~ 90.50, if it trades below todays low and outside the channel for the past couple of weeks rally.

Common sense tells me that the market wont let the payrolls be a 1 session thing, but I guess next week.. is another week.
Good trading all, and have a good weekend.
  • #16,246
  • Jun 4, 2010 5:10pm Jun 4, 2010 5:10pm
Quoting Haymaker
I am just curious why not many traders trade the yen compared to cable and euro? Is it because the yen has low volatility and doesn't move that much? I'm new to yen, so please bear with me.
different characteristics... (ex. economic factors, price action)
Yen is heavily traded during asian sessions but because London is considered the central location for heavy trading by banks, currency traders, and etc... the euro and pound have more trading activity

yen typically moves roughly 100-130 pips daily compared with euro and pound moving 150-300 pips daily...

also depends on the trader, but usdjpy is one currency pair that I glance at when an opportunity looks promising..
  • #16,247
  • Jun 4, 2010 6:52pm Jun 4, 2010 6:52pm
Quoting Haymaker
Thank you! I'm shorting at those prices. However, I don't think it'll go 97. Are you game for Aussie too?
1 month and a week ago i still trade AUD/USD but now i'm not. i trade USD/JPY and USD/CAD now. planning to back to trade AUD/USD now but still waiting for a good time to re enter while now almost my margin is still absorbed at those two pair..
yes the 97 level of USD/JPY is really hard to achieve.. but that is my minor target.. i hope it will achieved next year.
anyway this pair is back to 91.42 level at muy oanda platform. 92.20 support was easily broke.. i think it still can go down a litlle bit. and i will take more long, i hope i can take the lowest level to long.
  • #16,248
  • Jun 5, 2010 12:24am Jun 5, 2010 12:24am
Quoting yeri
1 month and a week ago i still trade AUD/USD but now i'm not. i trade USD/JPY and USD/CAD now. planning to back to trade AUD/USD now but still waiting for a good time to re enter while now almost my margin is still absorbed at those two pair..
yes the 97 level of USD/JPY is really hard to achieve.. but that is my minor target.. i hope it will achieved next year.
anyway this pair is back to 91.42 level at muy oanda platform. 92.20 support was easily broke.. i think it still can go down a litlle bit. and i will take more long, i hope i can take the...
I think 93.50 will be a hard resistance to break. Good luck trading!
  • #16,249
  • Jun 5, 2010 12:25am Jun 5, 2010 12:25am
Quoting IdentifyTren
different characteristics... (ex. economic factors, price action)
Yen is heavily traded during asian sessions but because London is considered the central location for heavy trading by banks, currency traders, and etc... the euro and pound have more trading activity

yen typically moves roughly 100-130 pips daily compared with euro and pound moving 150-300 pips daily...

also depends on the trader, but usdjpy is one currency pair that I glance at when an opportunity looks promising..
Thanks for the insight. Happy trading!
  • #16,250
  • Edited 3:10am Jun 5, 2010 12:55am | Edited 3:10am
Friends, let's wait a tsunami! Now Hungary is next in line! all risk aversion, the yen appreciates! caution and care in long-term plans!

http://www.independent.co.uk/news/bu...y-1991807.html

anyone know this site? is it reliable these forecasts?
http://www.forecasts.org/yen.htm
  • #16,251
  • Jun 5, 2010 4:27am Jun 5, 2010 4:27am
Quoting TheArcher
oh dear ...

price jumped from 7th may to 3rd june on 1hr

and month of may is missing on the daily
...close the chart, then restart your platform...it worked for me
  • #16,252
  • Jun 5, 2010 4:45am Jun 5, 2010 4:45am
Quoting micho
because they are random and depend on luck
there is nothing scientifically natural about them just like trendlines, pitchfork, head and shoulders bla bla bla
are we drawing or trading
everything we trade is random patterns...i think you can anticipate a row of gains after a row of losses or vise versa...we are drawing and trading...fibo pivots are horizontal trendlines of a certain range...so how can you say that trendlines don't work...fibo is not the only geometric sequence that is useful...my opinion, like it or leave it
  • #16,253
  • Jun 5, 2010 5:52am Jun 5, 2010 5:52am
Quoting Kas1
everything we trade is random patterns...i think you can anticipate a row of gains after a row of losses or vise versa...we are drawing and trading...fibo pivots are horizontal trendlines of a certain range...so how can you say that trendlines don't work...fibo is not the only geometric sequence that is useful...my opinion, like it or leave it
fibo is not a line, fibo is based on calculations
i think im gonna stop posting on this thread... lots of newbies who want to give lectures
When life gives you lemons, make lemonade
  • #16,254
  • Jun 5, 2010 6:09am Jun 5, 2010 6:09am
Quoting micho
fibo is not a line, fibo is based on calculations
i think im gonna stop posting on this thread... lots of newbies who want to give lectures
ohkay...nothing works except what you say
  • #16,255
  • Jun 5, 2010 8:10am Jun 5, 2010 8:10am
Quoting Kas1
ohkay...nothing works except what you say
its not what i say, its nature

sorry for being rude anyway
When life gives you lemons, make lemonade
  • #16,256
  • Jun 5, 2010 10:25am Jun 5, 2010 10:25am
Quoting micho
because they are random and depend on luck
there is nothing scientifically natural about them just like trendlines, pitchfork, head and shoulders bla bla bla
are we drawing or trading
We are drawing TO trade. I hate misinformation like this. Chart patterns happen for a reason. Maybe you aren't good enough at drawing or recognizing them therefore you dismiss them. They are a distinct pattern of buying and selling. Just because they don't work for you, doesn't mean they don't work. Some of us have made entire careers and good livings out of trading them. Be open to ideas in everything. Your life will be better for it.
Every time you use 'hopium' in a post, God kills a kitten.
  • #16,257
  • Edited 11:12am Jun 5, 2010 10:37am | Edited 11:12am
Quoting micho
its not what i say, its nature

sorry for being rude anyway
we have to agree with you . from ur perspective with your 'edge' we are newbies.

we ask u of the questions and argue your points because u seem to 'have been there done that' and feel that ur replies could correct our understanding.

there is no need to take extreme stance .

have u , in this thread, explicitly explained ur 'edge' .ie fully and clearly expressed ur 'edge' ? u haven't. as someone not into ur thinking process it is natural for 'newbies' to question u on ur one line statement to clarify doubts. what u have in mind and how u have worded the explanation could not be what we 'newbies' perceive to mean.

there is no need to get hostile and defensive.

perhaps , you could explain it a bit in depth or refer to sources, so that newbies could understand . its ur prerogative , of course
  • #16,258
  • Jun 5, 2010 10:44am Jun 5, 2010 10:44am
Quoting Kas1
...close the chart, then restart your platform...it worked for me
yes, got it back ! what a relief ! (together with the original missing 'teeth' )
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  • #16,259
  • Jun 5, 2010 11:05am Jun 5, 2010 11:05am
any recommendation ( brokerage) for free reliable MT4 platform ?
  • #16,260
  • Jun 5, 2010 11:29am Jun 5, 2010 11:29am
Quoting TheArcher
we have to agree with you . from ur perspective with your 'edge' we are newbies.

we ask u of the questions and argue your points because u seem to 'have been there done that' and feel that ur replies could correct our understanding.

there is no need to take extreme stance .

have u , in this thread,...
no i am not gonna tell you how i trade... i told u really alot already.. i took me 8 years to develop this now its ur turn to develop what i told u...
its all probability but a 70% signal is better than a 10% signal and reward ratio RR 2 is better than RR 1 so combine good signals with good RR you get a good winning percentage with a good RR...

once u trade u will notice alot of the things i didn't tell u, especially price action, divergence, volume tricks, false signals... and dont expect to win every trade... nobody can do that u just have to keep it positive with a good earning monthly otherwise u better not trade
When life gives you lemons, make lemonade
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