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USD/JPY Discussion

  • #17,381
  • Aug 6, 2010 3:11am Aug 6, 2010 3:11am
Quoting TheArcher
from eForex

Panama - Regional Head Office

http://www.eforex.com/contactus.html
Hmmm...I wonder if the problem lays there...It shouldn't, but who knows? My live broker is FXCM(Australia), but I use Wall Street Brokers as my USA based demo account and I run my pivots etc on that account. The pivots seems to agree with other traders pivot levels.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,382
  • Aug 6, 2010 3:27am Aug 6, 2010 3:27am
Quoting realjumper
Story of my life Patience......I'm soooo misunderstood!!
I've been You tubing so much the last few months that everything I seem to read now I can relate to a song. You've just reminded me of one. It must have been a hit in NZ or, at least, it was on my parents record collection Don't Let Me Be Misunderstood

I've just been skimming weekly ranges and I note that A/J has only done 5 pips more this week than U/J. I hadn't realised since I've nicked quite a few pips on A/J this week with ninja in and ninja out. I have no idea where this is going to go. Good luck everybody and be safe. Don't waste all your week's profits in one day.
Nothing worth having is easy.
  • #17,383
  • Aug 6, 2010 4:22am Aug 6, 2010 4:22am
Quoting Patience
.
really like your patience, Patience
  • #17,384
  • Aug 6, 2010 4:23am Aug 6, 2010 4:23am
Quoting Patience
I've been You tubing so much the last few months that everything I seem to read now I can relate to a song. You've just reminded me of one. It must have been a hit in NZ or, at least, it was on my parents record collection Don't Let Me Be Misunderstood

I've just been skimming weekly ranges and I note that A/J has only done 5 pips more this week than U/J. I hadn't realised since I've nicked quite a few pips on A/J this week with ninja in and ninja out. I have no idea where...
Ahh....The Animals, Santa Esmerelda and Joe Cocker I think all released this classic...it was/is certaily a hit for me!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,385
  • Aug 6, 2010 7:38am Aug 6, 2010 7:38am
Quoting WGann
http://www.forexfactory.com/showthre...58#post3921858

Now it is good price to sell, sell while it is above 86, S/L 87. Hold until just before tomorrow's unemployment claim number release, or until Friday's unemployment rate number.
If you followed my suggestion, please cover your short now.
  • #17,386
  • Aug 6, 2010 7:43am Aug 6, 2010 7:43am
Hello WGann,

Do you think it is possible for the pair to go down to 84.84 before going up again? I have a pending order there

Thanks,

Quoting WGann
If you followed my suggestion, please cover your short now.
  • #17,387
  • Aug 6, 2010 7:46am Aug 6, 2010 7:46am
Quoting WGann
So would you say if tomorrow's NFP was bearish the down trend will continue? My call is that no matter what happens tomorrow, the down trend will be over, becos time expires on Saturday. And I will show you how to trade what I predict.
Uh huh.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,388
  • Aug 6, 2010 7:50am Aug 6, 2010 7:50am
Quoting Ghadeer
Hello WGann,

Do you think it is possible for the pair to go down to 84.84 before going up again? I have a pending order there

Thanks,
It is safe to buy after 14:00 UTC. After this time, the market will not fall below 84.50.

However I would recommend you buy after London or New York close, if it is below 85, with a stop-loss order set at 83.
  • #17,389
  • Aug 6, 2010 7:51am Aug 6, 2010 7:51am
Thanks for the advice.

Quoting WGann
It is safe to buy after 14:00 UTC. After this time, the market will not fall below 84.50.

However I would recommend you buy after London or New York close, if it is below 85, with a stop-loss order set at 83.
  • #17,390
  • Aug 6, 2010 7:53am Aug 6, 2010 7:53am
Quoting WGann
So would you say if tomorrow's NFP was bearish the down trend will continue? My call is that no matter what happens tomorrow, the down trend will be over, becos time expires on Saturday. And I will show you how to trade what I predict.
FYI
  • #17,391
  • Aug 6, 2010 7:55am Aug 6, 2010 7:55am
Quoting WGann
FYI
If the downtrend is going to be over, it be soley due to intervention from Japan, which may happen. Not beause the clock, the planets or your crystal ball says so!!

Trade what you see, not what you think you can predict,
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,392
  • Aug 6, 2010 7:58am Aug 6, 2010 7:58am
This increases the possibility of new QE-measures being revealed next week, at the FOMC-meeting. So rebound is unlikely. At best maybe some sideways action before lower range of 84.

Regarding intervention: The only way it could be effective in such a strong downtrend is if several CBs did it together, which is not going to happen.
  • #17,393
  • Aug 6, 2010 8:01am Aug 6, 2010 8:01am
Quoting realjumper
If the downtrend is going to be over, it be soley due to intervention from Japan, which may happen. Not beause the clock, the planets or your crystal ball says so!!

Trade what you see, not what you think you can predict,
Linear thinking... Anyways, if you can double your capital in 1 month your argument will be more convincing.

Like I said, I'm not here to debate, I prefer to convince people with real trades and P/L. You are free to believe whatever you believe, as long as you can make money. I hope this settles the argument.
  • #17,394
  • Aug 6, 2010 8:05am Aug 6, 2010 8:05am
Quoting realjumper
If the downtrend is going to be over, it be soley due to intervention from Japan, which may happen. Not beause the clock, the planets or your crystal ball says so!!

Trade what you see, not what you think you can predict,
I really don't see any BoJ intervention any time soon, they will be burning yens only if they do so now. This NFP only confirms down trend on USDJPY maybe to 84.

If Nikkei falls below 8500 maybe BoJ will be force to intervene, but they will only "talk" about intervention to move the market in the meantime.
  • #17,395
  • Aug 6, 2010 8:05am Aug 6, 2010 8:05am
Talk of possible BOJ intervention is on both sides of the fence with good points being made on either side. The first verbal shots were fired a few days ago,

http://www.bloomberg.com/news/2010-0...on-prices.html

The market will always search it's boundaries, which is what it's doing now, while the trend is down, this pair is trading is dangerous territory, if you have ever seen the BOJ in action, it's ugly, and you don't want to be caught on the wrong side.

fwiw.
  • #17,396
  • Aug 6, 2010 8:12am Aug 6, 2010 8:12am
Quoting WGann
Linear thinking... Anyways, if you can double your capital in 1 month your argument will be more convincing.

Like I said, I'm not here to debate, I prefer to convince people with real trades and P/L. You are free to believe whatever you believe, as long as you can make money. I hope this settles the argument.
Well we agree on one thing....making money is the reason we are here.

Trying to double one account in one month will end it tears. The tortoise won the race, not the hare. I don't have a problem per se with the way you trade....we are all free to trade as we see fit. However, I don't believe that this forum is the correct place to "convince people" of anything. We are here to share ideas and methods, not convince people that your crystal ball is the best way to go.

Anyhow, good luck and good trades
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,397
  • Aug 6, 2010 8:14am Aug 6, 2010 8:14am
Quoting kandarv
I really don't see any BoJ intervention any time soon, they will be burning yens only if they do so now. This NFP only confirms down trend on USDJPY maybe to 84.

If Nikkei falls below 8500 maybe BoJ will be force to intervene, but they will only "talk" about intervention to move the market in the meantime.
I agree...intervention will be used as an 'emergency' fix.....they really can't afford to intervene directly, and, as has been dicussed over the past couple of days, intervention doesn't work too well in the longer term
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,398
  • Aug 6, 2010 8:18am Aug 6, 2010 8:18am
Quoting realjumper
I agree...intervention will be used as an 'emergency' fix.....they really can't afford to intervene directly, and, as has been dicussed over the past couple of days, intervention doesn't work too well in the longer term
It's a mind game
  • #17,399
  • Aug 6, 2010 8:20am Aug 6, 2010 8:20am
Quoting auxesis
It's a mind game
Yeah it is. The Japan govt is caught between a rock and a hard place at the moment.....I'm glad I'm not in their shoes!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,400
  • Aug 6, 2010 8:40am Aug 6, 2010 8:40am
Quoting realjumper
I agree...intervention will be used as an 'emergency' fix.....they really can't afford to intervene directly, and, as has been dicussed over the past couple of days, intervention doesn't work too well in the longer term
never works because the goverment not intervene directly. i can not believe why the japanese goverment do this. right now i have 40% unrealized loss. i hope this will be turned arround soon.
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