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USD/JPY Discussion

  • #25,301
  • Aug 3, 2011 8:41pm Aug 3, 2011 8:41pm
Quoting whatfx
i cant get out. the loss would be too huge...
But you are ALREADY in the loss zone and a 100 pip stop could quickly become a 400 pip loss in no time, if you don't react immediately.

And I know the YEN, it really does not like to retrace at lot after a big move, not even 38%.

But you are the boss, it's your money.
  • #25,302
  • Aug 3, 2011 8:43pm Aug 3, 2011 8:43pm
Quoting KillerWhale
idiot

whats your problem killerwhale
  • #25,303
  • Aug 3, 2011 8:43pm Aug 3, 2011 8:43pm
This is definitely NOT an intervention, just one of the usual spikes up, only lasting a bit longer.
Even the intervention that BOJ did alone last year was an immediate 300 pips up.
Note that it didn't even clear the resistance @ 76.48, which means that the trend is still bearish. Might be a good place to short here for 100 pips or so.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #25,304
  • Aug 3, 2011 8:44pm Aug 3, 2011 8:44pm
Quoting whatfx
whats your problem killerwhale
Sorry, just my first reaction about you closing half the position. It'll go down again. Nothing meant personally.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #25,305
  • Aug 3, 2011 8:44pm Aug 3, 2011 8:44pm
Quoting Mr Breakout
But you are ALREADY in the loss zone and a 100 pip stop could quickly become a 400 pip loss in no time, if you don't react immediately.

And I know the YEN, it really does not like to retrace at lot after a big move, not even 38%.

But you are the boss, it's your money.

thanks. i need to decide how to deal with this situation.
  • #25,306
  • Aug 3, 2011 8:45pm Aug 3, 2011 8:45pm
The BOJ have admitted to an intervention. But they will follow it up with other monetary policy changes. They purchased USDJPY
  • #25,307
  • Aug 3, 2011 8:52pm Aug 3, 2011 8:52pm
Yep. Intervention.

Just when I decided to close my long after waiting a few days. Ah well.


http://www.reuters.com/article/2011/...77308U20110804
  • #25,308
  • Aug 3, 2011 8:54pm Aug 3, 2011 8:54pm
Come on down YEN, here kittie kittie kittie, come on down so I can buy you at a support level, kittie kittie kittie...
  • #25,309
  • Aug 3, 2011 8:54pm Aug 3, 2011 8:54pm
Quoting KillerWhale
idiot
Were you looking in the mirror? Everyone makes bad trades at times.
  • #25,310
  • Aug 3, 2011 8:56pm Aug 3, 2011 8:56pm
Just read the news about intervention................. lol it is ridiculous to do such a tiny action.

1 Didn't clear the first important resistance @ 78.48
2 Stupid timing with NFP coming up in 36 hours
3 No help from outside Japan

Only be aware of more things to come but I won't be surprised if UY will be down again by market close this week.
I'm following things as they become available.
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  • #25,311
  • Aug 3, 2011 8:58pm Aug 3, 2011 8:58pm
I shorted the top for 15+. Was waiting for the 1m to get OB again, but it didn't. Depending on PA, I'll short until it drops a bit.

It may drop to support at the weekly R1 pivot (77.93) or daily R2 (77.70). Or, rally to weekly R2 pivot (78.85).
  • #25,312
  • Aug 3, 2011 9:01pm Aug 3, 2011 9:01pm
whatfx: Dont jump in any trades now. Just wait until you see a clear candle stick pattern form. There are other charts out there that you can find a trade on. The market will decide which direction it wants to go. We just go along for the ride.
  • #25,313
  • Aug 3, 2011 9:02pm Aug 3, 2011 9:02pm
Quoting Fx93
Were you looking in the mirror? Everyone makes bad trades at times.
No don't have a mirror here.
Tell me how you can have a "huge loss" in less than 5 minutes?
No stops used? (I don't use stops myself but I laugh about a 150 pips against me).
Went in with way to high leverage? Yes of course!!!
New voice message: Why are you calling me? If I need you, I'll call you!
  • #25,314
  • Aug 3, 2011 9:05pm Aug 3, 2011 9:05pm
Quoting KillerWhale
Sorry, just my first reaction about you closing half the position. It'll go down again. Nothing meant personally.
get a life my friend. you cannot swear on forums like this, especially when its unprovoked. you obviously like to kick people in the teeth when they are down. better hope you dont find yourself being banned.

i guess your not doing too well as a trader eh ? hence frustration.


all others who tried to help me. thank you.

i will let you guys know how i get along tomorrow. to be honest i had no idea about the boj intervention, been far too busy for the past few days. i dont usually make losses like this, so it took me by surprise. i think when the market moves against you in such a way panic sets in, albeit temporarily. i guess even season traders experience such things.

i have closed half my losing position. iam waiting to see if price crosses the 89 ema by 20 npips. if it does, then sadly i will need to close my other half (short), take the loss, and then enter a long..
  • #25,315
  • Aug 3, 2011 9:05pm Aug 3, 2011 9:05pm
Quoting whatfx
i cant get out. the loss would be too huge...

surely the spike will move back down ? even half the way...

what caused the dollar to become strong all of a sudden ?

You have over 850 posts and you are asking questions like that? Have you not been reading the news of the pending BoJ MoF intervention in the yen??????????
I don't trust any move - when you have profit...take it.
  • #25,316
  • Aug 3, 2011 9:07pm Aug 3, 2011 9:07pm
I agree that it has just stopped short of clearing resistance. By such a tiny amount. Seems silly if that's all there is. But even with the last intervention, it occurred in several stages. We will see.
  • #25,317
  • Aug 3, 2011 9:10pm Aug 3, 2011 9:10pm
Most breakouts during the Asian session are totally fake (that's usually the time when Forex dealers start playing games against the traders...) but this one on the Yen seems really genuine.

The only problem is that it is psychologically extremely difficult for traders to buy the YEN when they see such a wide-range hourly bar.
  • #25,318
  • Aug 3, 2011 9:11pm Aug 3, 2011 9:11pm
Quoting DubaiFX
Hello Buys this is my first post in this thread
i actually dont trade USDJPY because it doent move much, i like high vitalitile pairs like GBPJPY and EURJPY it gives me more pips quickly,
BUT i always look at USDJPY because yen pair mover is USDJPY
so in my technical and fundamental view
78.30 is possible end of the week
and dont forget yen is very high it is hurting the economy
see at audusd when it went hoo high
anyways be ware because intervention will become any time soon in both BOJ and SNB
they ahve to do it they will be forced to do that...

as i said guys It BOJ intervention will be before end of the week and here we come,
but its all politics guys,
it can come down NFP is coming
so i am out
and i am short GBPJPY from 128.65
and i am in EURJPY 112.20 sell on both
Target os 80-100 pips each
u may think i am crazy but i know interevention may not last loong and my MACD reading suggrests that it amy go down again..
just sharing my technical and fundamental views.
Trade.Wisely...
Don't compare your Trades with Others
  • #25,319
  • Aug 3, 2011 9:14pm Aug 3, 2011 9:14pm
When someone has several billion dollars to move the yen, NO indicator will tell the truth. Again, though, time will tell. In the case of GBPJPY, price is sitting EXACTLY on the long term downward TL.
  • #25,320
  • Aug 3, 2011 9:20pm Aug 3, 2011 9:20pm
Quoting KillerWhale
No don't have a mirror here.
Tell me how you can have a "huge loss" in less than 5 minutes?
No stops used? (I don't use stops myself but I laugh about a 150 pips against me).
Went in with way to high leverage? Yes of course!!!

you are incoherent and difficult to understand.

the market moved against me by over 100 pips within seconds. that my friend in my opinion is a huge loss, especially when i have never experienced a loss greater, in the last few weeks.

i have been shorting the uj for a long time now, so this move was a surprise.



well, just checked and indeed uj has crossed 20 pips above the 89 ema. so iam going long. fingers crossed, hope i can recover the losses soon.
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