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USD/JPY Discussion

  • #22,281
  • Feb 11, 2011 12:09am Feb 11, 2011 12:09am
Quoting Astroman
My old friend the Yen got me again early Thursday morning (EST). Had a pretty strong Long position at around 82.40 from earlier. Put in my TP and SL and by the time I woke up I was down just a hair wasn't really doing anything. I was still a little groggy and then I was finally up a good 10-15 PIPS. I wasn't really in to at the time so I exited my position at that profit.

Here we are, almost up 100 PIPS....terrible management on my part. I entered the trade with no intentions of scalping but looking for a nice move upward which happened sooner...
I know that feeling lol.
The amount of times I've thought to myself that there's no momentum and exit, it shoots my way.
There's still room for a nice move yet
  • #22,282
  • Feb 11, 2011 12:16am Feb 11, 2011 12:16am
Quoting fosking
I know that feeling lol.

There's still room for a nice move yet
I have a bad habit of doing that; taking the money and run instead of sticking to my original game plan. But I am improving on that bad habit. I guess only experience will break me of it.

Oh well. Cheers! I am about to call it a week, have some research to do , enjoy your weekend.
  • #22,283
  • Feb 11, 2011 12:18am Feb 11, 2011 12:18am
Trying a short here @ 83.54

Attached Image (click to enlarge)
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Don't be a hero. Don't have an ego. Always question yourself
  • #22,284
  • Feb 11, 2011 12:27am Feb 11, 2011 12:27am
Quoting Astroman
enjoy your weekend.
You too mate!
  • #22,285
  • Feb 11, 2011 12:27am Feb 11, 2011 12:27am
If I wasn't the wiser I'd argue that the Yen is being Sodomized in an effort to defend certain price levels in GBP/JPY and EUR/JPY, price action seems to obvious.... you would think the big guys would be covert about it.

It's more about the crosses at this point than USD/JPY itself. - U/J is just a tool to achieve that goal. They are all going up up up.
  • #22,286
  • Feb 11, 2011 12:27am Feb 11, 2011 12:27am
Quoting USD-Bear
Trying a short here @ 83.54

Attachment
Good entry if it keeps walking downwards. What's your targetpoint? Or just a scalp?

Edit: though I think it's risky. I closed my small long at 83.52
(sadly have to leave my computer.. for other stuff)
  • #22,287
  • Feb 11, 2011 12:30am Feb 11, 2011 12:30am
Daily R1 at 83.60 with possible retracement back to monthly R1/weekly R2.

M5
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  • #22,288
  • Feb 11, 2011 12:32am Feb 11, 2011 12:32am
Quoting Stretch
Good entry if it keeps walking downwards. What's your targetpoint? Or just a scalp?

Edit: though I think it's risky. I closed my small long at 83.52
(sadly have to leave my computer.. for other stuff)
I'm actually a UJ bull, don't know where to exit yet, not sitting long on it
Don't be a hero. Don't have an ego. Always question yourself
  • #22,289
  • Feb 11, 2011 12:33am Feb 11, 2011 12:33am
Quoting USD-Bear
I'm actually a UJ bull, don't know where to exit yet, not sitting long on it
Ok got that! Well I would love to take that short, but I am not risking it, since I got to leave the computer. Good luck & enjoy
  • #22,290
  • Feb 11, 2011 12:38am Feb 11, 2011 12:38am
i hate it when its moving soooo extremly slow
consistency wins
  • #22,291
  • Feb 11, 2011 12:43am Feb 11, 2011 12:43am
Quoting iTrader
i hate it when its moving soooo extremly slow
It might be like this all the to the USA trade balance news in a few hours from now. I am out of all trades (except swissy) for the moment. I tried a short on eu a while back but the PA doesn't instill confidence in me right now, so I exited at +1.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,292
  • Feb 11, 2011 12:49am Feb 11, 2011 12:49am
Quoting realjumper
I am out of all trades (except swissy) for the moment..
It's looking good for parity
  • #22,293
  • Feb 11, 2011 12:50am Feb 11, 2011 12:50am
Quoting realjumper
It might be like this all the to the USA trade balance news in a few hours from now. I am out of all trades (except swissy) for the moment. I tried a short on eu a while back but the PA doesn't instill confidence in me right now, so I exited at +1.
seems so, i entered earlier a usdjpy sell but closed it +5 because the price action is not very clear to me, i think a move toward 84.00/20 is still possible.
lets wait and see the opportunities will come, just need some patience
consistency wins
  • #22,294
  • Feb 11, 2011 12:52am Feb 11, 2011 12:52am
Quoting fosking
It's looking good for parity
I think so too.....that will put a smile on my face!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,295
  • Feb 11, 2011 1:27am Feb 11, 2011 1:27am
Quoting Stretch
Good entry if it keeps walking downwards. What's your targetpoint? Or just a scalp?

Edit: though I think it's risky. I closed my small long at 83.52
(sadly have to leave my computer.. for other stuff)
Collected 5 whole pips
Don't be a hero. Don't have an ego. Always question yourself
  • #22,296
  • Feb 11, 2011 1:30am Feb 11, 2011 1:30am
Quoting Astroman
My old friend the Yen got me again early Thursday morning (EST). Had a pretty strong Long position at around 82.40 from earlier. Put in my TP and SL and by the time I woke up I was down just a hair wasn't really doing anything. I was still a little groggy and then I was finally up a good 10-15 PIPS. I wasn't really in to at the time so I exited my position at that profit.

Here we are, almost up 100 PIPS....terrible management on my part. I entered the trade with no intentions of scalping but looking for a nice move upward which happened sooner...
Lol...just did the same thing myself.....exited my eu short at +1, but it would have been about +18 by now!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,297
  • Feb 11, 2011 2:14am Feb 11, 2011 2:14am
mmm, no testing, no retraces it just walks through it.
UJ reluctant to walk with it though

Guess we have to wait for a pull-back and if that halts around neckline I'll consider UJ longs....

Attached Image
Don't be a hero. Don't have an ego. Always question yourself
  • #22,298
  • Feb 11, 2011 2:28am Feb 11, 2011 2:28am
I will be keeping my eye on it for the next couple of hours but unless it gets down to 83.10-20 ( which I'll go LONG) I think it is time to leave this one alone till next week.
  • #22,299
  • Feb 11, 2011 2:41am Feb 11, 2011 2:41am
Interesting analysis fwiw....'USDJPY near an Important Crossroad' dailyfx.com
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,300
  • Feb 11, 2011 3:00am Feb 11, 2011 3:00am
i am currently long and think that we are at crucial levels today you can read some details on my blog as always if you wish. good luck everyone
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