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USD/JPY Discussion

  • #17,101
  • Edited 3:39am Jul 27, 2010 3:19am | Edited 3:39am
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Now I'll wait if it want to retrace and hit 50%. Sell stop little below 50s. But I guess it will not be soon, perhaps tomorrow. I don't trade if it goes to the opposite direction of the overall trend. Let's see if it can hold at the resistance level, if it does we will be having somekind of HS pattern.

UPDATE: I'm seeing little different thing right now. if daily candle closes bull we are having PA confirmation based on Double Low Higher Close. Well in any case we could take a long and shorts as well.
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  • #17,102
  • Jul 27, 2010 6:05am Jul 27, 2010 6:05am
Quoting Kas1
also thinkn the downtrend will continue...blue lines are major s/r i see...im short from 86972, 86260 target
that short didnt work out...my major resistance was broken and is acting as support now...looking for long entry from there
  • #17,103
  • Jul 27, 2010 9:31am Jul 27, 2010 9:31am
I think the BOJ has stepped in. It was a good way down though. lol
  • #17,104
  • Jul 27, 2010 9:49am Jul 27, 2010 9:49am
We are making higher highs. Good thing
  • #17,105
  • Jul 27, 2010 9:57am Jul 27, 2010 9:57am
Yesh, ive been waiting for this as well... however, i have one hedging short at 87.62.. hopefully before closing i'll be able to TP 87.5 and after that go up north!!!! =D

If it breaks 88.50 it should go up higher i guees... go yen!!!
  • #17,106
  • Jul 27, 2010 10:07am Jul 27, 2010 10:07am
Quoting cien_47k
Yesh, ive been waiting for this as well... however, i have one hedging short at 87.62.. hopefully before closing i'll be able to TP 87.5 and after that go up north!!!! =D

If it breaks 88.50 it should go up higher i guees... go yen!!!
I hope we won't be holding long enough at long term fibo level 83.6%
  • #17,107
  • Edited 11:29am Jul 27, 2010 11:04am | Edited 11:29am
Quoting Togu
Seems like you trade Price actions. Your chart doesn't look messy
if you mean watching and reacting to candlesticks is price action,(like micho ), then this PA is something i have yet to get a grasp of .....

i am sticking to the normal dow theory, s/r , chart patterns, breakouts etc... with a little bit of macd/histogram and stocastics ... if this is PA (as pointed out by uraceulose) then u are right .. I (demo) trade Price Action

maybe because my chart's background is white , and just a few s/r , trendlines , channel lines .. it looks neater .

maybe your chart might look neater if u changed ur background to white and remove the period separator (keep it if u need it ) , they might look neater too !
  • #17,108
  • Edited 11:38am Jul 27, 2010 11:07am | Edited 11:38am
Quoting Kas1
that short didnt work out...my major resistance was broken and is acting as support now...looking for long entry from there
ouch ! hurts to see ur trade go the other way !!

hope u recover ur losses ..

never expected to move up aggressively either ...
  • #17,109
  • Jul 27, 2010 11:17am Jul 27, 2010 11:17am
daily chart

pink line is the price

currently another 10 more pips to hit the resistance ... will it take a breather around the resistance 87.99 or 88.00 ?

note the channel formed by the pink line .. will it obey this channel ..?

-----------------

togu ... i did not add the pink channel line , least it might 'spoil' the good name i had earned from u about my neat charts ... come to think of it , this chart is all lines and messy ... (tongue-in-cheek)
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  • #17,110
  • Jul 27, 2010 11:34am Jul 27, 2010 11:34am
the pink channel on the hourly chart
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  • #17,111
  • Jul 27, 2010 3:09pm Jul 27, 2010 3:09pm
Quoting TheArcher
ouch ! hurts to see ur trade go the other way !!

hope u recover ur losses ..

never expected to move up aggressively either ...
made it back, just not on this pair...of course now its moved up nice from 87350...couldnt find a way in...thinkn its headed for 88440, next major resistance i see
  • #17,112
  • Jul 27, 2010 4:22pm Jul 27, 2010 4:22pm
Quoting trigg
UJ seems to be a good price to get in with Enter Long at 87.01 with 5 positions. H4 is showing an ascending channel where market price has touch the bottom line just now.
see #17032

Exit at 87.88

Profit: + 87 pips
  • #17,113
  • Jul 27, 2010 4:30pm Jul 27, 2010 4:30pm
Open 4 pending orders:

Enter Short at:
88.20 (mR3 88.22) / 88.35 (DR3 88.39) / 88.50 (Murrey Math Weak, Stall & Reverse [7/8] 88.66) / 89 (Murrey Math Ultimate Resistance [8/8] 89.06)

Hope that min. 1 or 2 orders could be triggered.
  • #17,114
  • Jul 27, 2010 5:21pm Jul 27, 2010 5:21pm
Quoting TheArcher
ouch ! hurts to see ur trade go the other way !!

hope u recover ur losses ..

never expected to move up aggressively either ...
Yeah ive never expected yen will move up this aggressively either... thought it should still play around 86.75-87.75 range.. i hope it will take a breath before it breaks 88 and go all the way up..
  • #17,115
  • Jul 27, 2010 9:12pm Jul 27, 2010 9:12pm
Pretty indecisive direction tonight...
  • #17,116
  • Jul 27, 2010 9:25pm Jul 27, 2010 9:25pm
To me shorting is kinda risky. We should see clean break on longer term fibo level today. ATM having little tea break before running back.
  • #17,117
  • Jul 27, 2010 9:34pm Jul 27, 2010 9:34pm
Quoting TheArcher
if you mean watching and reacting to candlesticks is price action,(like micho ), then this PA is something i have yet to get a grasp of .....

i am sticking to the normal dow theory, s/r , chart patterns, breakouts etc... with a little bit of macd/histogram and stocastics ... if this is PA (as pointed out by uraceulose) then u are right .. I (demo) trade Price Action

maybe because my chart's background is white , and just a few s/r , trendlines , channel lines .. it looks neater .

maybe your chart might look neater if u changed...
The way I trade PAs. I tend to look at the PA on Daily and if I get something interesting then I would look at the shorter time frames and then again zooming my entry on support resistances on 15 minutes. lol
  • #17,118
  • Jul 27, 2010 11:34pm Jul 27, 2010 11:34pm
he3 it's allready 87.7x waiting to push more to north....
  • #17,119
  • Jul 28, 2010 2:47am Jul 28, 2010 2:47am
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R & S , That Is All !...
  • #17,120
  • Jul 28, 2010 3:20am Jul 28, 2010 3:20am
Quoting yeri
he3 it's allready 87.7x waiting to push more to north....
Its over 88 already... Damn havent got my chance to TP one of my hedging.. Still waiting.. Guess it should take a deep breath before shooting up...

Cant wait whats gonna happened =D this is very interesting part..
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