what if it is bear flag ... will it follow ur lines down ...but that is a strong support ..?
anything is possible ... be prepared ...anticipate ... but follow what the market tells u ..
USD/JPY Discussion 7 replies
NZD/JPY Discussion 12 replies
long eur/jpy, gbp/jpy, usd/jpy 11 replies
EUR/USD Bollinger Band Discussion 3 replies
Suidster's GBP/JPY Discussion 19 replies
Dislikeda bit excited .... is this a "Diamond Reversal " in the making ?
though it is rare and it is happening at the bottom of the recent trend (top is prefered) ... worth keeping in mind , i suppose ..Ignored
DislikedAren't these usually bearish in nature? Meaning they usually occur at the top of a trend?Ignored
Dislikeda bit excited .... is this a "Diamond Reversal " in the making ?
though it is rare and it is happening at the bottom of the recent trend (top is prefered) ... worth keeping in mind , i suppose ..Ignored
Disliked
anything is possible ... be prepared ...anticipate ... but follow what the market tells u ..Ignored
Dislikeda bit excited .... is this a "Diamond Reversal " in the making ?
though it is rare and it is happening at the bottom of the recent trend (top is prefered) ... worth keeping in mind , i suppose ..Ignored
Disliked
i dont even think that will be the true bottom, which i think will be closer to 80Ignored
DislikedHey RJ
Large specs have, once again, decreased their long positioning on Yen according to COT (this was reported as of Tuesday though).
http://www.reuters.com/article/idUSN3021117920100730Ignored
Dislikedwhy do u think yen is strong ... is it because of weakness of US ..or something else .... care to share ..?Ignored
Dislikedyou gotta ask, is this the bottom and is the trend over?......i dunno, but i like to think it isnt.....i have buy orders @ 8350 for a bounce and 8000 for a very lt trade. Who knows, I may just open an additional acct throw in 1-2k and only have buy orders on uj @ 80 and only use this acct to buy and hold this pair. That could make for a good long term investment, not a "trade".
i dont even think that will be the true bottom, which i think will be closer to 80 and no im not saying this is gonna happen tomorrow......this bottoming process takes...Ignored
DislikedInteresting points you make here. The reason I'm attempting to grab the bottom is for the same reason that you may open an additional account....a long term investment. I see this pair at 100+, maybe before the end of the year, maybe not. Either way, this will be my 'long term/investement' trade.
Whether we are close to the bottom or not, who knows? It may very well have a go at testing the all time low, I'm thinking that BOJ just cannot afford to let that happen.....[b]having said that, there isn't a hell of a lot of options open to them. As...Ignored
Disliked
Of course you will want to wait for price action to confirm the move, I'm not at all saying that a long should be placed on the pair for market open; I'm just saying that shorts on this pair should have relatively tight profit targets...
...(hint: I don't see any possible way a double dip recession is avoided at this point ...Ignored
Disliked(2) The constant bad news out of the US is going to mean economic problems elsewhere on the globe ... that means an increase in Risk Aversion which nearly always translates into dollar strength.
If you put those together, Yen weakening and USD strengthing, then it certainly looks like USDJPY should be heading upward soon.Ignored
DislikedAn increase in risk aversion usually translates into dollar and Yen strength. Please see the chart below. USDX is candlestick and Yen is line chart. In 2008, both dollar and Yen increased in value. And once again at the end of March 2010 the rally on USD/JPY ended while the US$ continued to increase in value until the end of May.
[b]Something is not right. Bond yields in US are decreasing which apparently means smart money is running to safety and yet the indices have continued to rally albeit on low volume. If the rally in the indices is kosher...Ignored
DislikedHey RJ
Large specs have, once again, decreased their long positioning on Yen according to COT (this was reported as of Tuesday though).
Attachment
http://www.reuters.com/article/idUSN3021117920100730Ignored
DislikedAren't these usually bearish in nature? Meaning they usually occur at the top of a trend?Ignored
DislikedHi .... I am new to your site.. not an expert trader..so take with a grain of salt...I hope you don't mind my adding my two cents...I see the COT large traders decreasing their trade positions..the dollar index is at 0..( usually a turn around) and on the monthly chart there is wicked divergence on the MOM..I know there is resistance above at about 86.72..38% fib area 86.76 ...but as far as the monthly chart we have come back to the trend line and are retesting..we have a beautiful doji on the 12h and 4h chart ....me thinks up it...???...Ignored