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Up and Down with TT

  • #121
  • Jul 20, 2010 10:17pm Jul 20, 2010 10:17pm
Good day to you,

Over the next day or 2, EUR/JPY will be taking off for a substantial, sustained move. 4hr chart. Direction yet unknown.

If correlation plays any part, we may see EU follow if this move is caused by the Euro - or alternatively, we may see Dragon follow - if this move is caused by Yen. USD/JPY may then also come into the picture.

Not to say the move will be one directional either... I know I will be keeping a close eye on EUR/JPY and related currencies.

Regards
  • #122
  • Jul 20, 2010 11:32pm Jul 20, 2010 11:32pm
Quoting TauTrader
Good day to you,

Over the next day or 2, EUR/JPY will be taking off for a substantial, sustained move. 4hr chart. Direction yet unknown.

If correlation plays any part, we may see EU follow if this move is caused by the Euro - or alternatively, we may see Dragon follow - if this move is caused by Yen. USD/JPY may then also come into the picture.

Not to say the move will be one directional either... I know I will be keeping a close eye on EUR/JPY and related currencies.

Regards
Further to the above - the 15 min chart suggests a strong move for EU coming soon as well. Price now 1.2882. Looking at the current Price action angle, I believe this will be short to 1.2810 - should price continue at the current trajectory, and 1.2900 holds as resistance.

Not taking this - just putting it out there to check back and see if I have an understanding of the charts.

Regards
  • #123
  • Jul 21, 2010 1:31am Jul 21, 2010 1:31am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Spot on TT,
I was discussing this with GlobalMacro: http://www.forexfactory.com/showpost...stcount=239607


I expect another leg down then buying yen pairs.


ta
ams


Quoting TauTrader
Good day to you,

Over the next day or 2, EUR/JPY will be taking off for a substantial, sustained move. 4hr chart. Direction yet unknown.

If correlation plays any part, we may see EU follow if this move is caused by the Euro - or alternatively, we may see Dragon follow - if this move is caused by Yen. USD/JPY may then also come into the picture.

Not to say the move will be one directional either... I know I will be keeping a close eye on EUR/JPY and related currencies.

Regards
  • #124
  • Jul 21, 2010 2:45am Jul 21, 2010 2:45am
Quoting ams
Spot on TT,
I was discussing this with GlobalMacro: http://www.forexfactory.com/showpost...stcount=239607


I expect another leg down then buying yen pairs.


ta
ams
Good day to you,

Yip - sure is going to get interesting over the next couple of days. Pressure building across all fronts.

Wish you all the best

Regards
  • #125
  • Jul 21, 2010 6:37am Jul 21, 2010 6:37am
Quoting TauTrader
Further to the above - the 15 min chart suggests a strong move for EU coming soon as well. Price now 1.2882. Looking at the current Price action angle, I believe this will be short to 1.2810 - should price continue at the current trajectory, and 1.2900 holds as resistance.

Not taking this - just putting it out there to check back and see if I have an understanding of the charts.

Regards
Hmm...

The strong move happened and the target was achieved. Pity the trade was not taken.
  • #126
  • Jul 21, 2010 9:40am Jul 21, 2010 9:40am
Closed GU trade @ 1.5206. 3 positions were opened. Closed for + 164.

Regards
Attached Image (click to enlarge)
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  • #127
  • Jul 22, 2010 12:14am Jul 22, 2010 12:14am
Quoting TauTrader
Good day to you,

Over the next day or 2, EUR/JPY will be taking off for a substantial, sustained move. 4hr chart. Direction yet unknown.

If correlation plays any part, we may see EU follow if this move is caused by the Euro - or alternatively, we may see Dragon follow - if this move is caused by Yen. USD/JPY may then also come into the picture.

Not to say the move will be one directional either... I know I will be keeping a close eye on EUR/JPY and related currencies.

Regards
Good day,

Took a belated short or 2 or 3, as the observation played out. Price currently on the 50% line of the month range. Will close if we break back above 110.76 - otherwise will attempt to ride to 109.30

Regards
Attached Image (click to enlarge)
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  • #128
  • Jul 23, 2010 4:04am Jul 23, 2010 4:04am
Good day to you,

Entered longs on EJ @ 112.04 and 112.10. Entry was taken on the Daily chart. I hope to see 112.24 (June opening price) hold as support and a retest of 114.12 to happen over the next few days - next week.

We did form a Higher low and could just possibly break out north. Worth a shot. Price has attempted to break through on various occasions over the last couple of weeks.
Attached Image (click to enlarge)
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  • #129
  • Jul 23, 2010 8:48am Jul 23, 2010 8:48am
Quoting TauTrader
Good day to you,

Entered longs on EJ @ 112.04 and 112.10. Entry was taken on the Daily chart. I hope to see 112.24 (June opening price) hold as support and a retest of 114.12 to happen over the next few days - next week.

We did form a Higher low and could just possibly break out north. Worth a shot. Price has attempted to break through on various occasions over the last couple of weeks.
Took this recent retrace to add a position @ 111.71.
  • #130
  • Jul 23, 2010 10:04am Jul 23, 2010 10:04am
Quoting TauTrader
Took this recent retrace to add a position @ 111.71.
Closed this position for +20. Reducing exposure. Remaining positions still open.
  • #131
  • Jul 23, 2010 10:28am Jul 23, 2010 10:28am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
good one TT...EU can go either ways..I see tanking but who knows might bugger up 100 pps up then tank later..buggers are releasing news after EU markets are closed...


Quoting TauTrader
Closed this position for +20. Reducing exposure. Remaining positions still open.
  • #132
  • Jul 23, 2010 10:30am Jul 23, 2010 10:30am
Quoting TauTrader
Closed this position for +20. Reducing exposure. Remaining positions still open.
Closed both open positions now for +5 and +2.

A massive 27 pips for the day!

News coming soon - will then see where we are.

See Monday.

Regards
  • #133
  • Jul 23, 2010 10:33am Jul 23, 2010 10:33am
Quoting ams
good one TT...EU can go either ways..I see tanking but who knows might bugger up 100 pps up then tank later..buggers are releasing news after EU markets are closed...
Yip - rather me be out of the market when the stress test results come... Common sense dictates a drop - doesn't it. So, in theory, may get way better entries should certain conditions remain.

Rather I wait for Monday and try and set up the daily trade again. My wife is giving me the staring look... I better run.

Have a pleasant week end

Thank you for taking the time to post

Regards to you
  • #134
  • Jul 23, 2010 2:03pm Jul 23, 2010 2:03pm
Quoting TauTrader
Yip - rather me be out of the market when the stress test results come... Common sense dictates a drop - doesn't it. So, in theory, may get way better entries should certain conditions remain.

Rather I wait for Monday and try and set up the daily trade again. My wife is giving me the staring look... I better run.

Have a pleasant week end

Thank you for taking the time to post

Regards to you
Should have, Could have and all that....

Managed to add +40 on the news by taking a short. Re-entered to build long position @ 111.88.

Regards
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  • #135
  • Jul 25, 2010 2:47pm Jul 25, 2010 2:47pm
Let's see if these work - going forward:
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  • #136
  • Jul 25, 2010 4:30pm Jul 25, 2010 4:30pm
OK - entered 1st shorts @ market open. Closed previous EJ long for +101.

I will now manage these trades from here. These will be my only trades for the next period. Will add as they go against me. Do not follow me - this is a project in price prediction.

SL open - TP set at target ( adding spread)
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  • #137
  • Jul 25, 2010 9:43pm Jul 25, 2010 9:43pm
Quoting TauTrader
OK - entered 1st shorts @ market open. Closed previous EJ long for +101.

I will now manage these trades from here. These will be my only trades for the next period. Will add as they go against me. Do not follow me - this is a project in price prediction.

SL open - TP set at target ( adding spread)
Added another short to both EJ and GJ. Leaving UJ for now, as there has not been a lot of movement. The rise on EJ and GJ driven by Sterling and Euro strength at this point.

Hmmm.. nice and deep underwater here. This could take a while... will manage these and may add later.
Attached Image(s) (click to enlarge)
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  • #138
  • Jul 26, 2010 1:40pm Jul 26, 2010 1:40pm
Hi Tau, still with these?
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #139
  • Jul 26, 2010 1:44pm Jul 26, 2010 1:44pm
All positions still open. Now added short to GU.

GU - Entered @ 1.5496 TP 1.5385. Will add as I see fit.

Regards
Attached Image (click to enlarge)
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  • #140
  • Jul 26, 2010 1:49pm Jul 26, 2010 1:49pm
Yes, in short, too. Targeting 1.53s. I have to admit, I am playing against my trend, but suspect a few stop hunts are going to get under way for those that went long last week, before a shoot up to the 1.62s.
Author of: For Pip's Sake! (Available at Amazon... :-) )
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