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Nearly Naked (Simple Trades)

  • #2,821
  • Jun 7, 2010 4:34am Jun 7, 2010 4:34am
Not taking a trade in UJ, waiting to see what EU and AU do
  • #2,822
  • Jun 7, 2010 5:13am Jun 7, 2010 5:13am
Quoting Saxon
Thanks Puks,
How the trades going? I was considering a short on UJ at the 38 fib/Weekly Piv. Still watching PA though, no position.
hi Saxon,

I dont trade UJ but I trade other JPY crosses. I am currently long EJ and AJ. Looking to TP them and then enter short at following levels. reasons are next to them.

EJ - Long TP at 110.35 (38.2% retracement of the drop (114.10-108.05)

AJ - long TP at 76.30-40 (50% retracement of the drop (79-73.60).

Usually JPY crosses respond quite well at 50% so I'll be watching those levels but could start building shorts from 38.2% retracement till all the way 61.8% retracement with stop at 76.2% retracement of the recent big drop.
  • #2,823
  • Jun 7, 2010 5:46am Jun 7, 2010 5:46am
GU on its way to DP and WP
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  • #2,824
  • Jun 7, 2010 5:49am Jun 7, 2010 5:49am
Next barrier 50 fib/SR
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  • #2,825
  • Jun 7, 2010 5:50am Jun 7, 2010 5:50am
Friction at 1st target, don't know if it will hold
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  • #2,826
  • Jun 7, 2010 5:56am Jun 7, 2010 5:56am
Nice confluence of Pivs with Fibs and S/R on NU
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  • #2,827
  • Jun 7, 2010 6:00am Jun 7, 2010 6:00am
Can't go on for much longer, coming up to significant friction/confluence Also, candle formations are weakening
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  • #2,828
  • Jun 7, 2010 6:19am Jun 7, 2010 6:19am
Quoting Saxon
Friction at 1st target, don't know if it will hold
Good Morning. Glad to see I didn't miss too much while asleep.

I may be wrong but I don't think this one is going to hold. Two more to go...38.2 and 50%
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,829
  • Jun 7, 2010 6:22am Jun 7, 2010 6:22am
Quoting MarcVUM
Good Morning. Glad to see I didn't miss too much while asleep.

I may be wrong but I don't think this one is going to hold. Two more to go...38.2 and 50%
Ya, I dunno. I placed a small short order on UJ's 50 Fib but it seems like it might want to keep going to daily piv.
  • #2,830
  • Jun 7, 2010 6:24am Jun 7, 2010 6:24am
Quoting MarcVUM
Good Morning. Glad to see I didn't miss too much while asleep.

I may be wrong but I don't think this one is going to hold. Two more to go...38.2 and 50%
Yours is still holding. Maybe because it is a S/R, Fib Confluence
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  • #2,831
  • Jun 7, 2010 6:25am Jun 7, 2010 6:25am
This is where I am at, short order is on a different terminal
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  • #2,832
  • Jun 7, 2010 6:28am Jun 7, 2010 6:28am
Quoting Saxon
This is where I am at, short order is on a different terminal
Oh ya, that one looks great!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,833
  • Jun 7, 2010 6:33am Jun 7, 2010 6:33am
Quoting MarcVUM
Oh ya, that one looks great!
Kinda, UJ seems to be wanting to do its own thing right now though. Small order so not too concerned. It's rocket fuel will run out sooner or later.
  • #2,834
  • Jun 7, 2010 6:33am Jun 7, 2010 6:33am
Quoting Saxon
Kinda, UJ seems to be wanting to do its own thing right now though. Small order so not too concerned. It's rocket fuel will run out sooner or later.
Just bounced off 92 "00", let's see if that is enough.
  • #2,835
  • Jun 7, 2010 6:57am Jun 7, 2010 6:57am
Quoting Saxon
Kinda, UJ seems to be wanting to do its own thing right now though. Small order so not too concerned. It's rocket fuel will run out sooner or later.
Finally
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  • #2,836
  • Jun 7, 2010 7:11am Jun 7, 2010 7:11am
A/U. I believe that the 23 Fib won't hold so I took a quick long on A/U right when the candle in the white oval closed after bouncing off the yellow 21ema. Target is the pink 150ema.

Edit: Moved the S/L to +5 pips.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,837
  • Jun 7, 2010 7:19am Jun 7, 2010 7:19am
Quoting MarcVUM
A/U. I believe that the 23 Fib won't hold so I took a quick long on A/U right when the candle in the white oval closed after bouncing off the yellow 21ema. Target is the pink 150ema.

Edit: Moved the S/L to +5 pips.
Might be right. Tightened my UJ SL, I am going to take a nap, been up for sooo long
Good luck on your trades Marc, save some pips for me so I have some when I get back
  • #2,838
  • Jun 7, 2010 7:22am Jun 7, 2010 7:22am
Quoting Saxon
Might be right. Tightened my UJ SL, I am going to take a nap, been up for sooo long
Good luck on your trades Marc, save some pips for me so I have some when I get back
You got it! Dream of pips!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,839
  • Jun 7, 2010 12:04pm Jun 7, 2010 12:04pm
A/U. I am starting to build my short position now. PA is having a really hard time trying to penetrate the 23 Fib for the second time. The 150ema is just above and will provide plenty of resistance for my taste.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,840
  • Jun 7, 2010 12:54pm Jun 7, 2010 12:54pm
I have used your pdf but cant seem to copy your smi..would you post your template?

Brian

Quoting MarcVUM
A/U. I believe that the 23 Fib won't hold so I took a quick long on A/U right when the candle in the white oval closed after bouncing off the yellow 21ema. Target is the pink 150ema.

Edit: Moved the S/L to +5 pips.
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