We heading north this morning, but we need to go through the 89.88 R1 and 90.05 R2 levels. If we do, then 90.80 is on the cards in the short term (Friday/Monday).
Regards
Nectarios
970K = $970,000 ? wow ! so huge and nightmarish .. .. yet, u hanged in there !
i am trying to figure out why u stuck to ur gun and hoped it would return to 89.282 .... what was ur conviction ?
anyway , Congratulations ! you did it your way !
hello, I messed up at the entrance of my trading on May 21, was preoccupied with other things and made an incorrect analysis!
imagine you with a loss of entry to trade short position @ 89.282 and then see the price go up to 92.84! were 970k that were around $ 35,000 loss!
I spent all these days studying, reading, researching, was an amazing experience, but do not want this problem again and I never want to see someone in this situation. It's too bad to think of losses for 24 hours a day!!:nerd:
But .... I will now continue in the trade and certainly learned my lesson! I will always use a stop loss! (What will be a stop loss value consistent??)
I'd like to see the dollar rise to 95, xx, maybe one day it will happen!
Thank you for following my story on the FOREX!
- #16,643
- Jun 25, 2010 5:52am Jun 25, 2010 5:52am
- Joined Mar 2008 | Status: Fooled by randomness | 8,360 Posts
When life gives you lemons, make lemonade
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- Jun 25, 2010 6:21am Jun 25, 2010 6:21am
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When life gives you lemons, make lemonade
- #16,647
- Jun 25, 2010 11:04am Jun 25, 2010 11:04am
- | Joined Jun 2008 | Status: Trader | 2,013 Posts
USDJPY favoring a down move towards 88.8x
Even if a verbal intervention, it would provoke a reaction in the market! therefore, know very well how the Japanese Prime Minister (Naoto Kan), stay tuned to the comments of the Prime Minister in p'roximos days, after this year he has repeatedly said he would like to see the yen weaker. For Naoto Kan, the Japanese currency should be at 95 yen per dollar, because large companies have made their calculations for 2010 based on the price of 95 ~ 100.
We must remember that graphics are important, but which would signal that chart on May 6 the dollar cost 87.90 yen?? soon after the dollar rose to 92.80 yen! would be a natural correction in prices? or was it a warning that the dollar is going to the bottom? I think it was a Lápice of human nature have trusted electronic trading system, was actually a domino effect! This happens one time every 10 ~ 20 years!
The Japanese government is battling a dangerous disease, a cancer which is called price deflation over five years to fight is hard, but without success! Japan will crumble in a few years the birth rate is negative, so consumption is regressive!
Who You'll want to buy the currency of a country that public debt exceeds 200% of current GDP Japanese?
Who can trust a country that people with more than 80 years are still working for the simple reason that retirement of Japan paid $ 800 per month for this elderly man who worked for 45 years? The Japanese cost of living is the biggest in the world, how can a person live with then $ 800 per month? What country is this? part of the first world? joke!
In short, I believe in the dollar and the United States of America in the long term the dollar is still the dominant currency, we are now undergoing a test, as well as the EURO is also in his day trial! Other currencies are still creeping, waiting to walk and run, do not discard the possibility of falls and stumbles (EURO). That's my opinion, I hope the opnion of you.
My suggestion price for USD / JPY:
Long Term = 95 ~ 100 yen (6-18 months)
Medium Term = 91 ~ 94 yen (1-5 months)
Short-term = 89 ~ 90 yen (next days)
We must remember that graphics are important, but which would signal that chart on May 6 the dollar cost 87.90 yen?? soon after the dollar rose to 92.80 yen! would be a natural correction in prices? or was it a warning that the dollar is going to the bottom? I think it was a Lápice of human nature have trusted electronic trading system, was actually a domino effect! This happens one time every 10 ~ 20 years!
The Japanese government is battling a dangerous disease, a cancer which is called price deflation over five years to fight is hard, but without success! Japan will crumble in a few years the birth rate is negative, so consumption is regressive!
Who You'll want to buy the currency of a country that public debt exceeds 200% of current GDP Japanese?
Who can trust a country that people with more than 80 years are still working for the simple reason that retirement of Japan paid $ 800 per month for this elderly man who worked for 45 years? The Japanese cost of living is the biggest in the world, how can a person live with then $ 800 per month? What country is this? part of the first world? joke!
In short, I believe in the dollar and the United States of America in the long term the dollar is still the dominant currency, we are now undergoing a test, as well as the EURO is also in his day trial! Other currencies are still creeping, waiting to walk and run, do not discard the possibility of falls and stumbles (EURO). That's my opinion, I hope the opnion of you.
My suggestion price for USD / JPY:Long Term = 95 ~ 100 yen (6-18 months)
Medium Term = 91 ~ 94 yen (1-5 months)
Short-term = 89 ~ 90 yen (next days)
- #16,651
- Jun 26, 2010 1:19am Jun 26, 2010 1:19am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #16,653
- Jun 27, 2010 1:18am Jun 27, 2010 1:18am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #16,655
- Jun 27, 2010 8:49pm Jun 27, 2010 8:49pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
@mary and Realjumper: really a good opinion and analysis. i would absolutely agree with you guys. this pair will absolutely break 95.xx in a long term trade. but now Yen is still struggling to get weaker. everything can happen now. so use a good risk management if you want to open position now, or we can just see and stay a side for now. waiting for a really good time to enter this pair market.
This is the difficult part, and this is why trying to pick a bottom (or top) is foolhardy. I need to see something more concrete before deciding we are going to reverse this trend, and if I miss the bottom by 200 pips as a consequence, well, that's alright by me because I didn't risk anything by waiting for confirmation.
My 'gut feeling' is that we will range around here for the whole week, and NFP will set the direction on Friday. But it's just a feeling, and nothing more than that!
Just have to be patient
Doing what you like is Freedom. Liking what you do is Happiness.
hello friends ...
how are you?
what is our destiny in this currency pair? the usd / jpy is (very) oversold! do not you think?
I thought the week would open with a gap, but until an opening was normal!
this week the dollar would be 90 or 91? wowowowowow!
how are you?
what is our destiny in this currency pair? the usd / jpy is (very) oversold! do not you think?
I thought the week would open with a gap, but until an opening was normal!
this week the dollar would be 90 or 91? wowowowowow!
- #16,658
- Jun 28, 2010 3:57am Jun 28, 2010 3:57am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
hello friends ...
how are you?
what is our destiny in this currency pair? the usd / jpy is (very) oversold! do not you think?
I thought the week would open with a gap, but until an opening was normal!
this week the dollar would be 90 or 91? wowowowowow!
I must admit that I'd like to see this move north, and I'm sure it will do....when?.....who knows!! It's not impossible for this to go further south either. For me, now is the time to just watch this pair and wait for an opprtunity to present itself
Doing what you like is Freedom. Liking what you do is Happiness.
Hiya Mary....I'm still sitting out with this pair, but I am watching closely. There is no significant news for the next 24 hours so the PA may not do much.....but we never know!!
I must admit that I'd like to see this move north, and I'm sure it will do....when?.....who knows!! It's not impossible for this to go further south either. For me, now is the time to just watch this pair and wait for an opprtunity to present itself
http://www.bloomberg.com/news/2010-0...e-at-1-20.html
"The yen has been the biggest winner among the most-traded currencies this year, strengthening 4.1 percent against the dollar, followed by a 3.5 percent rise in the Mexican peso and 2 percent gain in Canada’s currency. The median estimate of strategists surveyed by Bloomberg is for the yen to weaken to 97 by year-end."
- #16,660
- Jun 28, 2010 5:24am Jun 28, 2010 5:24am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
http://www.bloomberg.com/news/2010-0...e-at-1-20.html
"The yen has been the biggest winner among the most-traded currencies this year, strengthening 4.1 percent against the dollar, followed by a 3.5 percent rise in the Mexican peso and 2 percent gain in Canada’s currency. The median estimate of strategists surveyed by Bloomberg is for the yen to weaken to 97 by year-end."
Doing what you like is Freedom. Liking what you do is Happiness.