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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #59,321
  • Oct 26, 2012 12:09pm Oct 26, 2012 12:09pm
Quoting PipTrapper
Yep... I'm looking for 84 or 85 to start with... then we'll see.

ADD: There's loads of room to the upside, even if it is only a slight correction.

U/J Monthly:
Attachment



Potential inverted H/S developing.

U/J Weekly:
Attachment
84 - 85 would be awesome! It would definitely give my JPY trades the nudge they're looking for!
  • #59,322
  • Oct 26, 2012 12:12pm Oct 26, 2012 12:12pm
Quoting 100PipsADay
84 - 85 would be awesome! It would definitely give my JPY trades the nudge they're looking for!
What are your entries?
Those who say it cannot be done should not interrupt those who are doing it
  • #59,323
  • Oct 26, 2012 1:13pm Oct 26, 2012 1:13pm
Quoting PipTrapper
New month begins late next week.
As for BOJ, the expectation is for another 10 trillion yen in easing and I'm pretty convinced they will do it. If they do, that's Yen negative.
I am also thinking BOJ will start bemoaning (as they have for the past year or so) that the yen is too strong and needs to devalue.
As the EJ is in an up channel, I am looking to enter longs at around 102 but the euro jitters scare me. Would it be safer to stick with the UJ, even though both are in a falling wedge?
  • #59,324
  • Oct 26, 2012 1:29pm Oct 26, 2012 1:29pm
Quoting Unknownpips
I am also thinking BOJ will start bemoaning (as they have for the past year or so) that the yen is too strong and needs to devalue.
As the EJ is in an up channel, I am looking to enter longs at around 102 but the euro jitters scare me. Would it be safer to stick with the UJ, even though both are in a falling wedge?
If E/U closed below 1.2900 then it's scary to hold long E/J or other Yen crosses with the exception of U/J.
  • #59,325
  • Oct 26, 2012 1:49pm Oct 26, 2012 1:49pm
Quoting Ken A
If E/U closed below 1.2900 then it's scary to hold long E/J or other Yen crosses with the exception of U/J.
Agreed.

By the way. If E/U closes below 1.2933, it will be the lowest weekly close since we tested 1.2802 4 weeks ago.

1.2933 is significant because it is the 61.8 fibo retrace of the 2012 hi to lo. A weekly close below that level will signal the next move to the 50% fibo which is at 1.2763
Those who say it cannot be done should not interrupt those who are doing it
  • #59,326
  • Oct 26, 2012 2:08pm Oct 26, 2012 2:08pm
Quoting PipTrapper
Agreed.

By the way. If E/U closes below 1.2933, it will be the lowest weekly close since we tested 1.2802 4 weeks ago.

1.2933 is significant because it is the 61.8 fibo retrace of the 2012 hi to lo. A weekly close below that level will signal the next move to the 50% fibo which is at 1.2763

uh oh pt, looks like somebody read your post about that close below 1.2933

euro seems to have found some strength but i will definitely be pulling for that sub 2933 close

have a good weekend all...
  • #59,327
  • Oct 26, 2012 2:09pm Oct 26, 2012 2:09pm
Quoting PipTrapper
Agreed.

By the way. If E/U closes below 1.2933, it will be the lowest weekly close since we tested 1.2802 4 weeks ago.

1.2933 is significant because it is the 61.8 fibo retrace of the 2012 hi to lo. A weekly close below that level will signal the next move to the 50% fibo which is at 1.2763
I see Bearish Divergence on the weekly and as long as the weekly candle doesn't close or breach the trend line @ 1.3090 then it has played out. Will it be correct to assume as such?

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  • #59,328
  • Oct 26, 2012 2:12pm Oct 26, 2012 2:12pm
Quoting PipTrapper
Agreed.

By the way. If E/U closes below 1.2933, it will be the lowest weekly close since we tested 1.2802 4 weeks ago.

1.2933 is significant because it is the 61.8 fibo retrace of the 2012 hi to lo. A weekly close below that level will signal the next move to the 50% fibo which is at 1.2763
hear hear

If indicators such as MACD, Awesome Oscillator, QQE (RSI) are anything to go by they all point downards
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  • #59,329
  • Oct 26, 2012 2:15pm Oct 26, 2012 2:15pm
Quoting Ken A
If E/U closed below 1.2900 then it's scary to hold long E/J or other Yen crosses with the exception of U/J.
hi ken

its very unlikely to close under even 2920, the moment it closes under 2920 on hourly time frame reverse it to short with stop at 2960 recent high.

for the next week 1st TP is 3010 minimum, for any whip lash below your sl must be 2 pips under today's low i.e. 2880, btw i dont expect any spike down below 2890 next week...

if prices closes above 3012 with solid bull bar my next target would be 3150 min

good luck bro!
Learning Requires Failure
  • #59,330
  • Oct 26, 2012 2:28pm Oct 26, 2012 2:28pm
Quoting tirmizi
hi ken

its very unlikely to close under even 2920, the moment it closes under 2920 on hourly time frame reverse it to short with stop at 2960 recent high.

for the next week 1st TP is 3010 minimum, for any whip lash below your sl must be 2 pips under today's low i.e. 2880, btw i dont expect any spike down below 2890 next week...

[u]if prices closes above 3012 with solid bull...
I also think it's very unlikely to close below 1.2920 or 1.2933 by looking at how things are going especially USDX. But you never know, it could be just Friday and next week will be another story with some bad news from EZ.
  • #59,331
  • Oct 26, 2012 3:12pm Oct 26, 2012 3:12pm
Eu H1
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Bulls Run. Bears Bite. We Profit.
  • #59,332
  • Oct 26, 2012 3:44pm Oct 26, 2012 3:44pm
Quoting PipTrapper
What are your entries?
I don't have any U/J positions, however, I have a few A/J positions.

Earlier this week I opened & Closed:

81.133 closed @ 82.205 (+107)
80.948 closed @ 82.209 (+126)

Current Open Positions:
81.356 (+13 floating)
82.608 (-10 floating)


*AUD/JPY has been respecting the H4 TL very nicely this week.

Also, CAD/JPY is also respecting the Weekly TL nicely. It is sitting right at the 79.40 which is exactly where the weekly uptrend intersects.

I'm really liking how a lot of the JPY pairs are setup on the Weekly charts. U/J looks really good but I don't like trading that pair, seems like there isn't that much action...

If we break and hold 80.40 by the end of next week with U/J I will open up a long term trade with U/J though as it looks like a perfect setup!
  • #59,333
  • Oct 26, 2012 4:30pm Oct 26, 2012 4:30pm
Quoting 100PipsADay
I don't have any U/J positions, however, I have a few A/J positions.

Earlier this week I opened & Closed:

81.133 closed @ 82.205 (+107)
80.948 closed @ 82.209 (+126)

Current Open Positions:
81.356 (+13 floating)
82.608 (-10 floating)


*AUD/JPY has been respecting the H4 TL very nicely this week.

Also, CAD/JPY is also respecting the Weekly TL nicely. It is sitting right at the 79.40 which is exactly where the weekly uptrend intersects.

I'm really liking how a lot of the JPY pairs are setup on the Weekly charts. U/J looks really...
Careful with the CAD. All the major Canadian banks just got downgraded to negative outlook so there may be some bearish CAD action next week.
Other than that, I think AUD/JPY stands to be the better JPY cross performer IMO.
Those who say it cannot be done should not interrupt those who are doing it
  • #59,334
  • Oct 26, 2012 5:35pm Oct 26, 2012 5:35pm
Quoting PipTrapper
Careful with the CAD. All the major Canadian banks just got downgraded to negative outlook so there may be some bearish CAD action next week.
Other than that, I think AUD/JPY stands to be the better JPY cross performer IMO.
Hey PT!

Yes I haven't traded the CAD for a while, it was one of the strongest currencies for months, now it has been one of the weakest. Best for me just to stay away from the Loonie. Just noticed that CAD/JPY is holding up against the trend. Also, NZD/JPY has broken upwards and has reached multi-month highs not seen since April.

I'm thinking A/U will climb back up to 1.05 - 1.055 during the next week or two. Once AUD/USD hits 1.05 I will start looking to close my AUD/JPY longs as I don't see A/U breaking through the weekly down trend which has been in effect since July 2011.

With that being said, I am glad that you agree that AUD should be one of the better JPY cross pairs! It has been one of the strongest currencies for the past 2 weeks, and even with stocks hitting the months lows, it held up quite well. Maybe if we see some buying with equities next week it will get the boost it needs to hit 1.05,

Enjoy the weekend PT!
  • #59,335
  • Oct 27, 2012 10:50am Oct 27, 2012 10:50am
Hey my friends

I havent been trading the Euro much. Been working during the asian session trading like currencies as well as the aussie and the kiwi.

As such I still value my friendships with the posters in here and just wanted to share some links I use over each weekend. These coincide with improving our psychological and mindset aspects. Which I believe and have found to be crucial for our success in this venture or anything.

I come from a sports background so these links are related as such. But they transfer through ALL facets of life..

Enjoy my friends

"the Best Motivation"
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" Failure before success"
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"How bad do you want it?"
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Part 2
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I also visit this website often and use many of the tools for self improvement and goal setting

personalexcellence.co


Good luck guys.

“He who is not contented with what he has, would not be contented with what he would like to have.” ~ Socrates




Wulf
  • #59,336
  • Oct 27, 2012 11:27am Oct 27, 2012 11:27am
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  • #59,337
  • Oct 27, 2012 1:24pm Oct 27, 2012 1:24pm
Quoting rekon67
Attachment
Are you with some broker who still trades on Saturdays, and is there actually a price to be quoted right now????????? looks like you were stopped out, you'd like to check they didnt cheat on you, I've had brokers do that kind of thing eg 10pm every night!!!!
  • #59,338
  • Oct 27, 2012 2:27pm Oct 27, 2012 2:27pm
Quoting rekon67
Attachment
interest / swap
  • #59,339
  • Oct 27, 2012 2:38pm Oct 27, 2012 2:38pm
Quoting JeremyWS
interest / swap
I also use FXCM and I am not seeing any change in my account.

SWAP / Interest is paid to the "Misc Transfer" area with trade explorer when using FXCM.
  • #59,340
  • Oct 27, 2012 5:20pm Oct 27, 2012 5:20pm
I've a quick question for anyone that may know the answer. I also have been waiting for the usd/jpy to break upwards, however on the daily we see a bearish engulfing, to add to this were also starting to see some usd buying.. Given this are we really looking at a sizable breakout to the upside as in is the expected supply of jpy to the market enough to bouy it above 80 and possibly to 85..
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