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USD/JPY Discussion

  • #25,561
  • Aug 5, 2011 12:53pm Aug 5, 2011 12:53pm
I realize they intervened earlier this week....but dude do not pin your hopes on an intervention.
  • #25,562
  • Aug 5, 2011 1:00pm Aug 5, 2011 1:00pm
Quoting Astroman
I realize they intervened earlier this week....but dude do not pin your hopes on an intervention.
I am not hoping for anything, I am just getting ready for any possible scenario and counter-scenario. In trading always expect the unexpected.

Like Soros said : "Markets are constantly in a state of uncertainty and flux and money is make by discounting the obvious and betting on the unexpected."
  • #25,563
  • Aug 5, 2011 1:24pm Aug 5, 2011 1:24pm
Quoting Mr Breakout
I am not hoping for anything, I am just getting ready for any possible scenario and counter-scenario. In trading always expect the unexpected.

Like Soros said : "Markets are constantly in a state of uncertainty and flux and money is make by discounting the obvious and betting on the unexpected."
Easily said by someone who has billions. not so easily exercised by someone who has thousands.
  • #25,564
  • Aug 5, 2011 1:30pm Aug 5, 2011 1:30pm
Quoting Astroman
Easily said by someone who has billions. not so easily exercised by someone who has thousands.
Yes but he also start with 1000 $
How long time need let`s jena will be again 77.00 ?
Once scalper always scalper
  • #25,565
  • Aug 5, 2011 1:47pm Aug 5, 2011 1:47pm
Quoting Astroman
Easily said by someone who has billions. not so easily exercised by someone who has thousands.
Soros started his career as a waiter and a baggage handler.

Look at him now
  • #25,566
  • Aug 5, 2011 2:02pm Aug 5, 2011 2:02pm
Quoting Mr Breakout
Soros started his career as a waiter and a baggage handler.

Look at him now
One in a million.
  • #25,567
  • Aug 5, 2011 2:03pm Aug 5, 2011 2:03pm
Quoting freemen
How long time need let`s jena will be again 77.00 ?
Not sure I quite understand your question Freemen, but if the Yen goes back to 77.00 I will make at least 100 pips, and if it goes above 80 then the sky is the limit. Either way it will ring my cash register. This is called bracketing the market.
  • #25,568
  • Aug 5, 2011 2:09pm Aug 5, 2011 2:09pm
Anything below 85-86, in my humble and not so professional opinion, still keeps the downtrend alive, if it breaks 86 convincingly.....look out, we might see arun to 95 to parity.
  • #25,569
  • Aug 5, 2011 2:19pm Aug 5, 2011 2:19pm
Quoting Astroman
Anything below 85-86, in my humble and not so professional opinion, still keeps the downtrend alive, if it breaks 86 convincingly.....look out, we might see arun to 95 to parity.
Makes sense, but now you are talking about daily and weekly bars, not short term (and day) trading.
  • #25,570
  • Aug 5, 2011 2:26pm Aug 5, 2011 2:26pm
Quoting Mr Breakout
Makes sense, but now you are talking about daily and weekly bars, not short term (and day) trading.
True.

Still my bread and butter on this Pair is when it gets in a sideways rhythm.
  • #25,571
  • Aug 5, 2011 2:35pm Aug 5, 2011 2:35pm
Quoting Astroman
True.

Still my bread and butter on this Pair is when it gets in a sideways rhythm.
I agree, the Yen is an ideal vehicle for traders who like to trade ranging markets. But trading ranging markets is also a risky business, one strong breakout against your position could wipe out many many small winning trades.
  • #25,572
  • Aug 5, 2011 2:38pm Aug 5, 2011 2:38pm
Quoting Mr Breakout
But trading ranging markets is also a risky business, one strong breakout against your position could wipe out many many small winning trades.
And I have always said the same.

This Pair is prone to sudden and violent moves.

Not very often though but it only takes one.
  • #25,573
  • Aug 5, 2011 2:49pm Aug 5, 2011 2:49pm
After 16 consecutive hours, the 78.45 support level is still holding up.

When the Yen is that quiet and keeps hugging a certain price it usually means something big is brewing...
  • #25,574
  • Aug 5, 2011 3:00pm Aug 5, 2011 3:00pm
if japan was interested in making a point, intervention sunday would drive it home the deepest......h
to trade and code, keep both simple... no call to impress....h
  • #25,575
  • Aug 5, 2011 3:26pm Aug 5, 2011 3:26pm
Quoting Mr Breakout
After 16 consecutive hours, the 78.45 support level is still holding up.

When the Yen is that quiet and keeps hugging a certain price it usually means something big is brewing...
Is not that the usual pattern of this Pair?
  • #25,576
  • Aug 5, 2011 3:50pm Aug 5, 2011 3:50pm
Quoting Mr Breakout
After 16 consecutive hours, the 78.45 support level is still holding up.

When the Yen is that quiet and keeps hugging a certain price it usually means something big is brewing...
Im really waiting what will happened
  • #25,577
  • Aug 5, 2011 4:21pm Aug 5, 2011 4:21pm
Quoting Astroman
Is not that the usual pattern of this Pair?
Yes, but after that violent 300 pip move this pattern is even more meaningful.

So let's wait and see what Sunday and the following days bring us.
  • #25,578
  • Aug 5, 2011 4:34pm Aug 5, 2011 4:34pm
Hi folks


I was watching price up until Thursday's 300 pip move and with a pennant / flag along with the Pin forming on the daily TF I knew that traders were bracing themselves for s/thing big

In short, who caused the 300 pip move against the trend?

I know the simple explanation is that buyers did it but it definitely wasnt a bunch of guys at home with 10k accounts.

Any help would be great

Anthony
  • #25,579
  • Aug 5, 2011 4:36pm Aug 5, 2011 4:36pm
When has intervention had any lasting effect?
  • #25,580
  • Aug 5, 2011 4:49pm Aug 5, 2011 4:49pm
Quoting antgal23

In short, who caused the 300 pip move against the trend?
Bank of Japan intervention.
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