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USD/JPY Discussion

  • #22,241
  • Feb 10, 2011 3:10am Feb 10, 2011 3:10am
Quoting fosking
I may be with you if we clear 82.85
Targeting R2 on daily?
Don't be a hero. Don't have an ego. Always question yourself
  • #22,242
  • Feb 10, 2011 3:15am Feb 10, 2011 3:15am
Quoting USD-Bear
Targeting R2 on daily?
Yeah, long if we clear 82.85 (R2).
We are right at the weekly R1 resistance here, plus the green ascending trend line on my earlier chart.
so I would like to see that broken and not just a false breakout as stops will be above.
  • #22,243
  • Feb 10, 2011 3:18am Feb 10, 2011 3:18am
Quoting fosking
Yeah, long if we clear 82.85 (R2).
We are right at the weekly R1 resistance here, plus the green ascending trend line on my earlier chart.
so I would like to see that broken and not just a false breakout as stops will be above.
sounds prudent
Don't be a hero. Don't have an ego. Always question yourself
  • #22,244
  • Feb 10, 2011 3:21am Feb 10, 2011 3:21am
Quoting fosking
It's also important to note that it's USD strength pushing us higher as stocks drop.
Hows your longer term trading going man? I remember we were talking about that some time back. I'm in a position (for the long haul) on the Swissy, but we'll see how that goes. I'm not getting into a long term trade on this pair until this pennent/wedgie thingee breaks to the upside! Meantime I'm just intaday trading on this pair.
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,245
  • Feb 10, 2011 3:23am Feb 10, 2011 3:23am
Quoting USD-Bear
sounds prudent
I will try and hold back for a little around the daily R2.
I'm sure there will be profit takers and fresh sellers after a solid move north.
May press buy at around the weekly R1 or 82.65 depending on how strong the rejection is.
  • #22,246
  • Feb 10, 2011 3:30am Feb 10, 2011 3:30am
Quoting fosking
I will try and hold back for a little around the daily R2.
I'm sure there will be profit takers and fresh sellers after a solid move north.
May press buy at around the weekly R1 or 82.65 depending on how strong the rejection is.
I've been leading myself more and more by USDX-views and somehow I have a strong feeling (whatever it's worth) that it will break this 78.44.....

Attached Image
Don't be a hero. Don't have an ego. Always question yourself
  • #22,247
  • Feb 10, 2011 3:32am Feb 10, 2011 3:32am
Quoting realjumper
Hows your longer term trading going man? I remember we were talking about that some time back. I'm in a position (for the long haul) on the Swissy, but we'll see how that goes. I'm not getting into a long term trade on this pair until this pennent/wedgie thingee breaks to the upside! Meantime I'm just intaday trading on this pair.
Hey!
I wish I could say fantastic, but I can't lol.
It's not for me, I got into a few trades but all in all I made about 100 pips.
It was a lot of waiting for not a lot of profit (and especially as I dropped down my lot sizes to allow the trade to go against me a little more).
If I see any other solid opportunities for a long term trade I will take it, but I won't be searching for them.

I hope you manage to do better than me. But intra day is my style.
  • #22,248
  • Feb 10, 2011 3:33am Feb 10, 2011 3:33am
Quoting USD-Bear
I've been leading myself more and more by USDX-views and somehow I have a strong feeling (whatever it's worth) that it will break this 78.44.....
I have that same line on my usdx chart....that's really the 'line in the sand' imo
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,249
  • Feb 10, 2011 3:35am Feb 10, 2011 3:35am
This will be swift and painful...
  • #22,250
  • Feb 10, 2011 3:35am Feb 10, 2011 3:35am
I am long since few days and it looks beautiful on the daily and weekly and monthly chart.
but the chf trade is giving me headache up and down since days.
  • #22,251
  • Feb 10, 2011 3:40am Feb 10, 2011 3:40am
Quoting USD-Bear
I've been leading myself more and more by USDX-views and somehow I have a strong feeling (whatever it's worth) that it will break this 78.44.....
I'm with you, I will be watching 79.00 eagerly also.
It's carving a nice inverse H&S.

H4
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  • #22,252
  • Feb 10, 2011 3:41am Feb 10, 2011 3:41am
Quoting fosking
Hey!
I wish I could say fantastic, but I can't lol.
It's not for me, I got into a few trades but all in all I made about 100 pips.
It was a lot of waiting for not a lot of profit (and especially as I dropped down my lot sizes to allow the trade to go against me a little more).
If I see any other solid opportunities for a long term trade I will take it, but I won't be searching for them.

I hope you manage to do better than me. But intra day is my style.
It's not really my style either....I guess we should stick to what we do best!! Having said that, I still will enter for the long term if I see the right opportunity. Of the pairs I trade, only the swissy and this pair are likely candidates for me. The swissy trade from 9400 I will see how we're looking at 9700 and if I feel it will continue, I'll let it run. But I'm still intraday trading, same as always!

I guess old dogs can't learn new tricks!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,253
  • Feb 10, 2011 3:45am Feb 10, 2011 3:45am
Quoting realjumper
It's not really my style either....I guess we should stick to what we do best!! Having said that, I still will enter for the long term if I see the right opportunity. Of the pairs I trade, only the swissy and this pair are likely candidates for me. The swissy trade from 9400 I will see how we're looking at 9700 and if I feel it will continue, I'll let it run. But I'm still intraday trading, same as always!

I guess old dogs can't learn new tricks!!
Haha, do you have a target for your swiss trade or is it open?
  • #22,254
  • Feb 10, 2011 3:51am Feb 10, 2011 3:51am
Quoting fosking
Haha, do you have a target for your swiss trade or is it open?
My target was/is 9700. I have +120 locked in and I'm pretty confident that 9700 will get hit this week. If the pa just blasts right on past, I'll move my stop to somewhere around 9650 and hang in there for parity. If parity comes and gets blasted as well....well....shit.....I can't think that far ahead....lol.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,255
  • Feb 10, 2011 4:01am Feb 10, 2011 4:01am
Quoting realjumper
My target was/is 9700. I have +120 locked in and I'm pretty confident that 9700 will get hit this week. If the pa just blasts right on past, I'll move my stop to somewhere around 9650 and hang in there for parity. If parity comes and gets blasted as well....well....shit.....I can't think that far ahead....lol.....
Parity FTW lol.

One other long term trade that takes my fancy is GBP/JPY.
After a long term down trend which has respected the descending trend line numerous times, it's finally broken.

GBP/JPY Daily
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  • #22,256
  • Feb 10, 2011 4:07am Feb 10, 2011 4:07am
Quoting fosking
Parity FTW lol.

One other long term trade that takes my fancy is GBP/JPY.
After a long term down trend which has respected the descending trend line numerous times, it's finally broken.
Interesting.....that's not a pair that I watch....but I will now. Thanks for the heads up
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,257
  • Feb 10, 2011 4:15am Feb 10, 2011 4:15am
Quoting realjumper
Interesting.....that's not a pair that I watch....
To be honest it's not a pair which I trade either. I saw it purely looking at TA. On the other hand it surely can't be too much longer before the UK decides to start raising interest rates which should help on the up more, but I don't know lol.
  • #22,258
  • Feb 10, 2011 4:19am Feb 10, 2011 4:19am
Quoting fosking
To be honest it's not a pair which I trade either. I saw it purely looking at TA. On the other hand it surely can't be too much longer before the UK decides to start raising interest rates which should help on the up more, but I don't know lol.
Yes there's lot's of talk about UK raising the rates, but it's a tricky one...they're damned if they do, and they're damned if they dont! We might have an answer before the end of the week.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,259
  • Feb 10, 2011 4:31am Feb 10, 2011 4:31am
Quoting realjumper
Yes there's lot's of talk about UK raising the rates, but it's a tricky one...they're damned if they do, and they're damned if they dont! We might have an answer before the end of the week.
Lol I'm damned if they don't, my savings are doing crap.

The bulls are still managing to cling onto the ascending red trend line, for now.

M5
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  • #22,260
  • Feb 10, 2011 4:40am Feb 10, 2011 4:40am
is stall now.
I think we will have some action after the rate decision from UK.
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