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USD/JPY Discussion

  • #17,561
  • Aug 11, 2010 6:12am Aug 11, 2010 6:12am
Quoting Petar_Serbia
USDJPY will hit my SL will soon HIT 84.40,very very strange after yesterdays news,i think today Soros have shoping minutes
Psychological it is very likely this will happen imho.
On the other side UJ loves horizontal resistances/supports so a retrace could also happen, if so I would get out if I were you....
Don't be a hero. Don't have an ego. Always question yourself
  • #17,562
  • Aug 11, 2010 6:15am Aug 11, 2010 6:15am
Quoting realjumper
Be careful man....

"Yen Daily Outlook: Up vs. all despite growing BoJ intervention threats, which no one takes seriously. That the data out of Japan this week has been overall negative is irrelevant, it’s a risk aversion day and that means buy the JPY."

Source
I will realjumper, I'm thinking of few hundred pips downside maybe towards 80.00 before going long.....
Don't be a hero. Don't have an ego. Always question yourself
  • #17,563
  • Aug 11, 2010 6:16am Aug 11, 2010 6:16am
I think the 'make or break' for today could be the USD Trade Balance which is due soon......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,564
  • Aug 11, 2010 6:17am Aug 11, 2010 6:17am
hi bear, i hv no positions i want to take position in eurusd which positon can i take buy or sell plzzz.
  • #17,565
  • Aug 11, 2010 6:17am Aug 11, 2010 6:17am
Quoting Petar_Serbia
USDJPY will hit my SL will soon HIT 84.40,very very strange after yesterdays news,i think today Soros have shoping minutes

Nah.. your fine

Looking at weekly chart we might reverse here.... Cheap entry either way
  • #17,566
  • Aug 11, 2010 6:20am Aug 11, 2010 6:20am
Looking at 22.11-09 weekly... Last low... hit...
  • #17,567
  • Aug 11, 2010 6:30am Aug 11, 2010 6:30am
Quoting Larseg
Looking at 22.11-09 weekly... Last low... hit...
knowing that level, where would all those current longs put there stops?
It could be very bloody and very quickly if it happens.....
Don't be a hero. Don't have an ego. Always question yourself
  • #17,568
  • Aug 11, 2010 6:35am Aug 11, 2010 6:35am
Quoting USD-Bear
knowing that level, where would all those current longs put there stops?
It could be very bloody and very quickly if it happens.....

just wait till leveraged funds longs start getting margin calls..............80 may come sooner than you think.
  • #17,569
  • Aug 11, 2010 6:39am Aug 11, 2010 6:39am
Quoting mfoste1
just wait till leveraged funds longs start getting margin calls..............80 may come sooner than you think.
That's a really interesting comment and I'm curious as to where you get that kind of info?
  • #17,570
  • Aug 11, 2010 6:41am Aug 11, 2010 6:41am
Quoting USD-Bear
knowing that level, where would all those current longs put there stops?
It could be very bloody and very quickly if it happens.....

The thing is that the last couple of months weekly and daily levels have acted like magnets which is quite normal, but it seems like they bounce and then pierce through at a later stage alot more now than before.....

But we all know changing game plan is normally a bad idea... But hold on, isn't that called adapting to the market?? isn't that how we survive? Darn!

Sing a song and then go long...
  • #17,571
  • Aug 11, 2010 6:42am Aug 11, 2010 6:42am
Quoting MisterTrader
Originally Posted by MisterTrader...
Yabba dabba doo !!!! 84.75 print...Mjam mjam

http://4.bp.blogspot.com/_YznWrvhs9Z...h51am14e6k.gif

________________________________ Errare humanum est
  • #17,572
  • Aug 11, 2010 7:11am Aug 11, 2010 7:11am
Im waiting for long tail candle.... especially in daily chart,,,
It could be the reversal trend...
Steady as the beating drum,,,
  • #17,573
  • Aug 11, 2010 7:16am Aug 11, 2010 7:16am
Quoting Deanchain
Im waiting for long tail candle.... especially in daily chart,,,
It could be the reversal trend...
Dunno man.....seeing as we have come down so far, 84.80 was always going to be tested. Now, how many people will be going long from here? Where do you imagine their stop losses might be placed? Do you think those stops will be allowed to survive?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,574
  • Aug 11, 2010 7:20am Aug 11, 2010 7:20am
Quoting realjumper
Dunno man.....seeing as we have come down so far, 84.80 was always going to be tested. Now, how many people will be going long from here? Where do you imagine their stop losses might be placed? Do you think those stops will be allowed to survive?
USD/JPY is a sell as long as "bottom" pickers are under way.
________________________________ Errare humanum est
  • #17,575
  • Aug 11, 2010 7:24am Aug 11, 2010 7:24am
Quoting Deanchain
Im waiting for long tail candle.... especially in daily chart,,,
It could be the reversal trend...

the trend isnt reversing...........
  • #17,576
  • Aug 11, 2010 7:25am Aug 11, 2010 7:25am
Quoting realjumper
Dunno man.....seeing as we have come down so far, 84.80 was always going to be tested. Now, how many people will be going long from here? Where do you imagine their stop losses might be placed? Do you think those stops will be allowed to survive?
Hmm... we wait for up trend, and then put buy on it.....
For long trader, If your equity can handle until 80, put the buy now without any stop loss... It will go up sooner or later to around 89... IMHO..
Steady as the beating drum,,,
  • #17,577
  • Aug 11, 2010 7:26am Aug 11, 2010 7:26am
Quoting MisterTrader
USD/JPY is a sell as long as "bottom" pickers are under way.
USD/JPY is a sell as long as risk aversion remains....retail traders don't have much say in the matter!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,578
  • Aug 11, 2010 7:27am Aug 11, 2010 7:27am
Quoting Deanchain
Hmm... we wait for up trend, and then put buy on it.....
For long trader, If your equity can handle until 80, put the buy now without any stop loss... It will go up sooner or later to around 89... IMHO..

solid risk management technique........we can stay below 85 for days
  • #17,579
  • Aug 11, 2010 7:28am Aug 11, 2010 7:28am
Quoting Deanchain
Hmm... we wait for up trend, and then put buy on it.....
For long trader, If your equity can handle until 80, put the buy now without any stop loss... It will go up sooner or later to around 89... IMHO..
If it goes to to 80, it could go t0 78....76....74.....stranger things have happened. I don't need that kind of drawdown!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,580
  • Aug 11, 2010 7:34am Aug 11, 2010 7:34am
Quoting forex sea
hi bear, i hv no positions i want to take position in eurusd which positon can i take buy or sell plzzz.
Sorry didn't catch your message earlier...
I take it you are new in forex and learning.
My advice would be study and practice on a demo account first.
Do not ask what position you should take, nor follow other trades but try to figure out yourself.
I could shout here something about eurusd but it just would lengthen your learning curve...
Don't be a hero. Don't have an ego. Always question yourself
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