I'm going long USD/JPY at 80.50, target 100 | Page 2 | Forex Factory

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I'm going long USD/JPY at 80.50, target 100

  • #21
  • Nov 1, 2010 5:27am Nov 1, 2010 5:27am
Regardless of how this trade will end I can't help myself thinking how good the timing has been before the 150 pips retracement.
I would have dealt the other way around, adding 5k units after every 100 pips against my position and trying to reach a point when the trade would have been breakeven or a new Porsche.
  • #22
  • Nov 1, 2010 2:38pm Nov 1, 2010 2:38pm
I think buying the USDJPY looks good now, but of course with the proper stop loss. If it happens that it goes and stays below 80, then I would place a buy order for when it goes back up to 80.50ish (which shouldn't be that long).

Let's face it, this is the ideal setup for a long-term long position. Just like the AUDCAD is currently begging to be shorted. How often in our trading careers do we encounter such historical highs and lows ? True, nothing is guaranteed and this is why stop losses exist. But even if it continues downward, I will be waiting at this very spot with a shotgun for the reversal
  • #23
  • Nov 1, 2010 3:00pm Nov 1, 2010 3:00pm
Hey Xaron, nice setup. I'm doing the same up to 87 with a 75 pip stop from today. It's worth the risk I'm willing to put out for it. Just a little something different from what I normally do on the 4 hour charts.
I dream, therefore I become.
  • #24
  • Nov 2, 2010 3:08am Nov 2, 2010 3:08am
Quoting mike w
Hey Xaron, nice setup. I'm doing the same up to 87 with a 75 pip stop from today. It's worth the risk I'm willing to put out for it. Just a little something different from what I normally do on the 4 hour charts.
here's another question,

with AUD/USD reaching parity, do you go long or short ? and either way ... how 'long' or 'short'?
  • #25
  • Nov 3, 2010 8:28am Nov 3, 2010 8:28am
Quoting mikej2010
here's another question,

with AUD/USD reaching parity, do you go long or short ? and either way ... how 'long' or 'short'?
Currently holding B/E at 80.40 now. As for the Aussie, I'm short but I don't know for how long. That'll be shown to me along the way. Sorry Mikej, I know that's a cryptic answer but the only one I can give all the same.

Enjoy yourselves ladies and gents.
I dream, therefore I become.
  • #26
  • Nov 3, 2010 8:51am Nov 3, 2010 8:51am
Quoting Deman-Uc
TRADE WHAT IS ON THE CHART NOT WHAT YOU WISH OR EXPECT MARKET TO DO!
RIGHT NOW WE ARE ON A DOWNTREND!
Could you go more in detail? What is on the "chart"? It's the history. How can you make money out of that?
  • #27
  • Nov 3, 2010 8:52am Nov 3, 2010 8:52am
Quoting mikej2010
here's another question,

with AUD/USD reaching parity, do you go long or short ? and either way ... how 'long' or 'short'?
I'm short now at parity but won't hold it for too long.
  • #28
  • Nov 4, 2010 10:37am Nov 4, 2010 10:37am
Quoting Deman-Uc
there is nohing bullish about the usd/jpy i see in my chart...last i checked its in a serious downtrend.
u may be right about its trend.

but, u see, we are talking of the future here.... 'long-term' thinking & trading..
& we dont trade the past... only the present & the future.
  • #29
  • Nov 10, 2010 5:35am Nov 10, 2010 5:35am
Ok, here's an update:

http://www.xaron.net/dl/fx/2010/usdjpy_101110.png

Still a long way to go.
  • #30
  • Nov 22, 2010 5:29am Nov 22, 2010 5:29am
Ok, I want to be more active. I decided to close all my longs here at 83.47 for a temporary pullback. Made a gain of 99%.

I go short 20k units now at 83.47 with a stop at 84.10 and a target of 82.10 where I'll start to scale in longs again.
  • #31
  • Nov 22, 2010 6:24am Nov 22, 2010 6:24am
hi xaron, not even a 1k position left open? the trades was looking really promising...
80.50 was a great entry just to close that trade!
anyway, good look in your re-entry.
  • #32
  • Nov 23, 2010 8:36am Nov 23, 2010 8:36am
Closed all my shorts at 83 and went long again with 5k units.
  • #33
  • Nov 23, 2010 8:42am Nov 23, 2010 8:42am
...hmm?? warum das
  • #34
  • Nov 23, 2010 8:43am Nov 23, 2010 8:43am
Warum nicht? It's just my overall long term position again. Might go down further but I have buy limit orders all the way down to 80.
  • #35
  • Last Post: Nov 23, 2010 8:46am Nov 23, 2010 8:46am
As I said, back to long again. Have buy limits below and above.

http://www.xaron.net/dl/fx/2010/usdjpy_231110.png
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