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  • #6,481
  • Sep 26, 2011 2:29am Sep 26, 2011 2:29am
Quoting FXMindset
Guys,

If you follow a guy before named the moneymaker for keep buying EJ without Stoploss then I know you are damn frustated now,Its Not wise at all!
I am looking forward 93,Call Me Insane again But expected below 100 If EU break 1.3300
FxMindset

Be careful. I am also bearish on E/J, but 100 is a very strong psychological resistance. I think E/J will touch 100 but it will have lot of difficulties to move to 99. Even it may be a short term returning point for E/J.

Do you remember How long it took for E/J to break 150. I think psychologically 100 is stronger.
  • #6,482
  • Edited 5:04am Sep 26, 2011 2:50am | Edited 5:04am
Quoting jimjavad
FxMindset

Be careful. I am also bearish on E/J, but 100 is a very strong psychological resistance. I think E/J will touch 100 but it will have lot of difficulties to move to 99. Even it may be a short term returning point for E/J.

Do you remember How long it took for E/J to break 150. I think psychologically 100 is stronger.
Giving Eur Current and Coming problem,It Wont be a Problem for EJ break 100 and Cross moves always being crazy like this, We may see later,and I am expected see something crazy also

Look at my monthly chart,I am trade longer timeframe here and My Buy Limit set at 88 and 93 with risk 1-2%,hit or dont hit shouldn't be a problem for me and I dont have any position currently at EJ above or below 100,so am quite confused about your word be careful
If there was easy money lying around,no one would be forcing it into your
  • #6,483
  • Sep 27, 2011 3:08am Sep 27, 2011 3:08am
Quoting FXMindset
Giving Eur Current and Coming problem,It Wont be a Problem for EJ break 100 and Cross moves always being crazy like this, We may see later,and I am expected see something crazy also

Look at my monthly chart,I am trade longer timeframe here and My Buy Limit set at 88 and 93 with risk 1-2%,hit or dont hit shouldn't be a problem for me and I dont have any position currently at EJ above or below 100,so am quite confused about your word be careful

I said be careful because I think your order will not be triggered any time soon.

But I think it is not important for you.
BTW I don't think BOJ will take any serious action in the future. If you like you can read my opinions here
http://www.forexfactory.com/news.php...16#post4984794
  • #6,484
  • Sep 27, 2011 3:30am Sep 27, 2011 3:30am
Quoting jimjavad
I said be careful because I think your order will not be triggered any time soon.

But I think it is not important for you.
BTW I don't think BOJ will take any serious action in the future. If you like you can read my opinions here
http://www.forexfactory.com/news.php...16#post4984794
I trade EJ only for longer timeframe and for fun,My Main Focus On UJ Only,The GrandFather of all JPY Cross.So It doesnt matter with me if not triggered,expect unexpected only

Btw Thanks For the Link
If there was easy money lying around,no one would be forcing it into your
  • #6,485
  • Sep 27, 2011 3:53am Sep 27, 2011 3:53am
Euro/Jpy basing above daily retracement 103.40/45 would send this pair to 104.35/40, above would target 104.80/85, while a perfect buy would be at 101.85/90 and 101.50/60 would be another bonus buy if this pair ever go there anytime soon.
Good volatility is in need to start optimism of any possible reversal at least toward 105.00, unless it would stay moving sideways with more possible downward option if kept forming resistance after resistance lowering down daily retracement
  • #6,486
  • Sep 27, 2011 4:16am Sep 27, 2011 4:16am
Quoting jimjavad
BTW I don't think BOJ will take any serious action in the future. If you like you can read my opinions here
http://www.forexfactory.com/news.php...16#post4984794
I read it all and I can said that BOJ Dont need to take any action for weaken the Yen But The USD Might be strenght from now and future,Personally I am more believe the chart/market respond rather than any fundamental insight.The Chart and Market almost reach their bottom of falling wedge and Its Signal us another New Trend Should Be Changing Soon

All Things related one each other,At Forex We have Several Top Products,There are :
- USD
- EUR
- Poundsterling
- JPY Yen
- Aussie
- Swiss CHF
- and Many Many More

Each thing In This Earth always related with others Like Water and Fire,Man and Women,Good and Bad and once there's no demand with Europe or Pounds Currency then people will seek another products and Personaly I Think Its USD, and The monthly chart tells me Its USD Perform Time now after suffered several years of down. (Not Everything is This World Will last Longer,There is a time when we are Up and Down,Profits and Loss)

Both EU & GU Would Be sell and USD Might be massively Bought

The Intervention Money From BOJ Could Weaken The Yen Straightly but IMO not effectively,At least it takes 6-9 Month to takes the effect...Its like when we plant potatoes or apples,We wont reap the benefits directly.But It Takes Times,Everything Needs Proccess,As Long We keep Monitor the chart,the progress and always trade with stoploss and apply some longterm strategy with minimum risk I am believe all of you will reap the benefits soon

As Long you keep the right mindset by killing some beast with ourself thats called greedy,ego,lazy,etc

I Might Be Wrong and I Wont always dare to said am correct,Just trade with our rules and stick with it.

Attached is the Monthly Chart of UJ (The Main/GrandFather of all JPY Cross)

Thats I called The "Laws of Chart"
Attached Image (click to enlarge)
Click to Enlarge Name: UJ Monthly.png Size: 38 KB
If there was easy money lying around,no one would be forcing it into your
  • #6,487
  • Sep 27, 2011 4:40am Sep 27, 2011 4:40am
75.70 price level(if broke current 76.10 level) is more important for the long run than going down on the monthly chart toward 74.10/15 if the trend line 2 joint points can be considered right at first.
Because going to this price can open more downward movement later on even if price retraced after hitting there, again if such trend line is right not wrong since the second joint point is not too reliable in many cases.
  • #6,488
  • Edited 7:46am Sep 27, 2011 7:36am | Edited 7:46am
sold this one at 103.90. SL - 104.20 (30 pips).

http://4.bp.blogspot.com/-HUhCVsdgnS...d+618+fibo.png
  • #6,489
  • Sep 27, 2011 7:42am Sep 27, 2011 7:42am
Quoting suirad
sold this one at 103.90. SL - 104.30 (40 pips).

http://4.bp.blogspot.com/-HUhCVsdgnS...d+618+fibo.png
I sold it at 103.60 - sl 104.10 tp 103.1

not the best entry point.... :-(
  • #6,490
  • Sep 27, 2011 7:50am Sep 27, 2011 7:50am
Quoting carefultrade
I sold it at 103.60 - sl 104.10 tp 103.1

not the best entry point.... :-(
you can re-enter however it's good SL not hit. 104.10 would mean clear trendline break so it's not so bad IMO

P.S. reduced SL to 104.20 (30 pips).
  • #6,491
  • Sep 27, 2011 8:14am Sep 27, 2011 8:14am
Quoting suirad
you can re-enter however it's good SL not hit. 104.10 would mean clear trendline break so it's not so bad IMO

P.S. reduced SL to 104.20 (30 pips).
that's my sl hit :-(
  • #6,492
  • Sep 27, 2011 8:49am Sep 27, 2011 8:49am
Quoting carefultrade
that's my sl hit :-(
mine too. i guess we could enter above. around 107.00 on daily chart. what do you think?

http://1.bp.blogspot.com/-MW-Apns767...rjpy+daily.png
  • #6,493
  • Sep 27, 2011 1:35pm Sep 27, 2011 1:35pm
I can't understand why you sold EuroJpy or even any other yen pair,
and at what this price level 103.60 or 103.90?!, what is that level to sell at?!!
You must had sold if you wanted at 104.35/40(not set SL here) for some good pips(around 30), but in general why sell yen pairs now?!, hadn't you hear about possible intervention soon by BOJ ?!, might be some hours from now or before end of this month(in 2 days time)
You can realize how the forex market is reacting upward & yen very weak to such high speculation.
  • #6,494
  • Sep 28, 2011 3:27am Sep 28, 2011 3:27am
Quoting MoneMaker
I can't understand why you sold EuroJpy or even any other yen pair,
and at what this price level 103.60 or 103.90?!, what is that level to sell at?!!
You must had sold if you wanted at 104.35/40(not set SL here) for some good pips(around 30), but in general why sell yen pairs now?!, hadn't you hear about possible intervention soon by BOJ ?!, might be some hours from now or before end of this month(in 2 days time)
You can realize how the forex market is reacting upward & yen very weak to such high speculation.
would you please show me at least one good source from Japan's Government which made you to think like this??

Do you have any imagination about the necessary value of the money that change the market 300 or 500 pips and keep it at that point for long time.

In mid August BOJ bought 58B$ and it only moved the market 300-400 pips and after one month you can see how useless it was. Do you even know why Yen is strengthening?

E/J may go up but not because of Yen. If you see movement it is because of Euro.
  • #6,495
  • Sep 28, 2011 5:08am Sep 28, 2011 5:08am
Quoting jimjavad
would you please show me at least one good source from Japan's Government which made you to think like this??

Do you have any imagination about the necessary value of the money that change the market 300 or 500 pips and keep it at that point for long time.

In mid August BOJ bought 58B$ and it only moved the market 300-400 pips and after one month you can see how useless it was. Do you even know why Yen is strengthening?

E/J may go up but not because of Yen. If you see movement it is because of Euro.

LOL, I can't remember if any Japan government or BOJ had ever talked about intervention, because they hadn't & would never do that since they work silently and with surprise action as Noda always says-"monitoring the market"

300-400 are nothing even with no intervention, 1 monthly candle have more than that number of pips range, as yen pairs collapsed to those historic low levels, they would come back up with or without intervention because this is a natural cycle, for each fall there's a spike and vice versa, BOJ intervening would only speed the time to achieve that.

Go learn something named "correlation" besides safe haven big joke before asking "why Yen is strengthening?"(or weakening)
A small hint is to watch the magic new relation bt. yen & chf, when chf weaken you see yen powering because traders moving their money from chf to yen and vice versa under the name of "safe haven" currency that I do not believe in this big lie..as if the Dollar and Euro would disappear or weaken to a degree that traders, investors..would loose big money by holding them and go to buy the yen, besides as if the yen is some currency that can be reliable but it's just a big joke scenario named safe haven
if it's about economy than we must had bought the "yuan" from long time since the the chinese economy would pass the USA some years from now.
So this safe haven joke is like a momentum that nobody know what it means but just a flow that all rides on..
Briefly, the japan economy is hurt with yen strengthening and the case can't stay like that for long not because some investors or traders would loose by that but because big japanese companies are hurt hard starting with Nissan, toyota, sony, panasonic..
A clear decision by BOJ with hard warning language is more important than intervention just as SNB had done, rumors of intervention had spiked usdchf upward from 0.70 to around 0.80 before the intervention occured.
Honestly, I believe BOJ is playing this low levels game buying and selling the yen, and it is who would decide in what direction yen pairs would be heading later on..
  • #6,496
  • Sep 28, 2011 8:25am Sep 28, 2011 8:25am
Does bank of japan will move the JPY?
{Promotion Removed}
  • #6,497
  • Edited 6:28am Oct 3, 2011 6:06am | Edited 6:28am
Just did my first EUR-JPY trade :-) TP target 102.321.. Let's see.
Edit: closed out manually at a few pips profit.. Simply because I can't manage actively right now+caused me to get BE for today again from earlier losses..

http://img59.imageshack.us/img59/4168/chanl.gif
  • #6,498
  • Oct 3, 2011 6:23am Oct 3, 2011 6:23am
EJ Monthly Outlook
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Monthly.png Size: 42 KB
If there was easy money lying around,no one would be forcing it into your
  • #6,499
  • Oct 4, 2011 1:19am Oct 4, 2011 1:19am
well well, what I see?
EJ is treathening 100!!
wonder when BOJ will folow Swiss example, en?
They may not have the same lever to pull, but they will surely thing of something.
But first to see 99.xx, this is exciting indeed, will it, or will it not.
You see, I do not need a Bungee jumping, I just need to play FOREX
  • #6,500
  • Oct 12, 2011 4:12am Oct 12, 2011 4:12am
daily
Attached Image (click to enlarge)
Click to Enlarge Name: eur_jpy_daily.jpg Size: 68 KB
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