USD/JPY Discussion | Page 1592 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

USD/JPY

Similar Threads

USD/JPY Discussion 12 replies

NZD/JPY Discussion 12 replies

long eur/jpy, gbp/jpy, usd/jpy 11 replies

EUR/USD Bollinger Band Discussion 3 replies

Suidster's GBP/JPY Discussion 19 replies

Attachments: USD/JPY Discussion
Exit Attachments

USD/JPY Discussion

  • #31,821
  • Oct 27, 2012 3:33pm Oct 27, 2012 3:33pm
I am going to go long earlier than 76.55.

I have moved my target to 77.50 for the short term. I will go long at that level... I have put in £50 into my marked-for-blowing-up account

I am up £44 for now... I intend to turn this £50 into a £1m thanks to BoJ intervention that is coming, watch this space
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy271012.jpg Size: 92 KB
Click to Enlarge Name: usdjpy271012a.jpg Size: 86 KB
Click to Enlarge Name: IGIndex271012.jpg Size: 96 KB
  • #31,822
  • Oct 28, 2012 5:10am Oct 28, 2012 5:10am
Quoting Trader221
I am going to go long earlier than 76.55.

I have moved my target to 77.50 for the short term. I will go long at that level... I have put in £50 into my marked-for-blowing-up account

I am up £44 for now... I intend to turn this £50 into a £1m thanks to BoJ intervention that is coming, watch this space
For a while I took your posts almost seriously. But after you posted such an infantile subwave wave count (that you apparently use for your trading) and doubled that up with the "I" word, I guess I was wrong.

Maybe things will work out OK for you. But I suspect it will be more a case of good luck than good analysis.

Good luck.
  • #31,823
  • Oct 28, 2012 1:43pm Oct 28, 2012 1:43pm
Quoting Trader221
I am going to go long earlier than 76.55.

I have moved my target to 77.50 for the short term. I will go long at that level... I have put in £50 into my marked-for-blowing-up account

I am up £44 for now... I intend to turn this £50 into a £1m thanks to BoJ intervention that is coming, watch this space
Since when BoJ intervenes to the yen strength?! I would not even bother to comment on your wave count /I hope it is something else/.
  • #31,824
  • Oct 28, 2012 1:47pm Oct 28, 2012 1:47pm
Quoting freelancer
Since when BoJ intervenes to the yen strength?! I would not even bother to comment on your wave count /I hope it is something else/.
read his post again hes long biased not short
  • #31,825
  • Oct 28, 2012 1:52pm Oct 28, 2012 1:52pm
Quoting Trader221
I am going to go long earlier than 76.55.

I have moved my target to 77.50 for the short term. I will go long at that level... I have put in £50 into my marked-for-blowing-up account

I am up £44 for now... I intend to turn this £50 into a £1m thanks to BoJ intervention that is coming, watch this space

thats an interesting target i wad waiting for it before it took off. How did u get 76.55?
  • #31,826
  • Oct 28, 2012 3:12pm Oct 28, 2012 3:12pm
I am VERY bullish for USDJPY in the long term. I am aiming for 100+ by the end of the year. Intervention by BoJ will come... but only after the market force their hand, again. The difference this time around will be the depth and breadth of it. I think the Japanese had enough of the strong Yen. There only remains the last straw to break the camel' back and I think its the 75.75-76.00 level. We might see some big name Japanese company face bankruptcy and that will be the war cry for BoJ. Call me naive, but I expect a devaluation of at least 30%. Here is an interesting article regarding this topic:

http://www.cnbc.com/id/46863460//


I was waiting for the 76.55 before we took off for the 80.35 level. Now that we are done, we are heading down for it, I think.

How did I come up with that target? Simple really, its the resistance after the intervention of 31 Oct 2011. When we hit it again we should see a natural reaction from it. But I don't think the reaction will be an intervention... I still expect the intervention level to be 75.75-76.00 area.

For the other posters who call my chart 'childish', you are right. I never claimed that I am an expert. In fact, take this as a warning from me... never take me seriously!

But, having said that, if you know better than a child... please show them the way and post your charts & wave counts. I am here to learn
  • #31,827
  • Oct 28, 2012 4:48pm Oct 28, 2012 4:48pm
Quoting Trader221
I am VERY bullish for USDJPY in the long term. I am aiming for 100+ by the end of the year. Intervention by BoJ will come... but only after the market force their hand, again. The difference this time around will be the depth and breadth of it. I think the Japanese had enough of the strong Yen. There only remains the last straw to break the camel' back and I think its the 75.75-76.00 level. We might see some big name Japanese company face bankruptcy and that will be the war cry for BoJ. Call me naive, but I expect a devaluation of at least 30%....
Trader221 dont sweat anyone elses crap ever, believe in your game and if your right it will show up in account balance. Seek not validations from NOONE, they are just as confused as everyone else in the game. Unless your sitting there with BID/OFFER and the sizes of them in front of you, everyone is clueless to whats what and when, just do your best always. Good Luck !!!! Your just as smart as the guy beside you.
"Millionaires don't use astrology, billionaires do"
  • #31,828
  • Oct 28, 2012 7:58pm Oct 28, 2012 7:58pm
Quoting Trader221
I am VERY bullish for USDJPY in the long term. I am aiming for 100+ by the end of the year. Intervention by BoJ will come... but only after the market force their hand, again. The difference this time around will be the depth and breadth of it. I think the Japanese had enough of the strong Yen. There only remains the last straw to break the camel' back and I think its the 75.75-76.00 level. We might see some big name Japanese company face bankruptcy and that will be the war cry for BoJ. Call me naive, but I expect a devaluation of at least 30%....
i agree gotta mm line there but could slice through and reverse at a way lower level after sls are done.. 65 to 70 could loom if they dont step in right away. But its still bullish now going into meeting so we may lost the chance
  • #31,829
  • Oct 28, 2012 11:24pm Oct 28, 2012 11:24pm
Quoting Trader221
I am VERY bullish for USDJPY in the long term. I am aiming for 100+ by the end of the year. Intervention by BoJ will come... but only after the market force their hand, again. The difference this time around will be the depth and breadth of it. I think the Japanese had enough of the strong Yen. There only remains the last straw to break the camel' back and I think its the 75.75-76.00 level. We might see some big name Japanese company face bankruptcy and that will be the war cry for BoJ. Call me naive, but I expect a devaluation of at least 30%....
Maybe I was a little too unkind and for that I apologise. My point was that your wave count was technically incorrect and could not be used to form an assumption as to price direction. A wave count of these latest moves have become difficult, to say the least. UJ may be in a small diamond reversal (completing its wave 5 and getting ready to move down, or it could just be in an odd looking wave 4, meaning it still has room to move up).

But in any event, to base one's trading on the HOPE of easy money from an intervention is, in my view, wrong. Hence some earlier comments I made on this thread as to how it had become a lot less about trading and a lot more about gambling. Several people who had attended this thread have made similar comments and since left.

UJ, along with GU are very much the most difficult pairs to trade, so I always find it curious that so many newcomers seem to migrate straight those two pairs.

But, each to their own and again I apologise for coming over a little "heavy".
  • #31,830
  • Oct 29, 2012 12:28am Oct 29, 2012 12:28am
Could it be a Falling Three Method on 4 hr. chart? Bearish?
  • #31,831
  • Oct 29, 2012 1:51am Oct 29, 2012 1:51am
I don't think we are done with the Yen just yet. BoJ has not received the message from the market. They always intervened just enough to stop the economy from being devastated by the strong Yen. The problem is still there, its not solved. They will have to solve the problem once and for all. But we need to give them a reason to do that in the first place

So, I am still very much waiting for the 75.75-76.00 area.

I doubt that BoJ will care much about SLs when bedrock of Japanese economy, that are household names, are about to collapse.

Mpt no worries. I am not an established trader. I do this as a hobby... I expect my trading account to be wiped out in any case. My charts & wave counts are most probably wrong. But so are most charts that I have seen from the 'professionals'. I do look around for the predictions of other traders. what I find is, there are 100 different ways to count a wave... it all depends on who is counting

In the end, the price action will tell who is 'more correct'.

Btw, I couldn't resist adding another short at 79.68 (SL 79.75)

Yes, I like risk!
Attached Image (click to enlarge)
Click to Enlarge Name: IGIndex291012.jpg Size: 94 KB
  • #31,832
  • Oct 29, 2012 2:33am Oct 29, 2012 2:33am
I just HAVE TO share this:

http://www.marketwatch.com/story/ban...me_latest_news

The title says it all... Big move - JUST NOT YET!
  • #31,833
  • Oct 29, 2012 3:12am Oct 29, 2012 3:12am
for what it is worth. looks like a short to me.
Attached Image (click to enlarge)
Click to Enlarge Name: 290ctjpy.PNG Size: 79 KB
  • #31,834
  • Oct 29, 2012 3:31am Oct 29, 2012 3:31am
Quoting Trader221
I don't think we are done with the Yen just yet. BoJ has not received the message from the market. They always intervened just enough to stop the economy from being devastated by the strong Yen. The problem is still there, its not solved. They will have to solve the problem once and for all. But we need to give them a reason to do that in the first place

So, I am still very much waiting for the 75.75-76.00 area.

I doubt that BoJ will care much about SLs when bedrock of Japanese economy, that are household names, are about to collapse.

Mpt...
even 77.50 is less likely.
  • #31,835
  • Oct 29, 2012 11:17am Oct 29, 2012 11:17am
Quoting holmes
even 77.50 is less likely.
I hate days like this... I have two days off and I sit in front of the computer all day... and it ranges :/

Luckily I saw the error of my ways and increased the SL on my second short to 79.90.

It should be a smooth ride to 79.10 from here, hopefully
  • #31,836
  • Oct 29, 2012 11:45am Oct 29, 2012 11:45am
Quoting Trader221
I hate days like this... I have two days off and I sit in front of the computer all day... and it ranges :/

Luckily I saw the error of my ways and increased the SL on my second short to 79.90.

It should be a smooth ride to 79.10 from here, hopefully
once u have more exp u will realize market usually ranges.. Think about
it once ppl catch on of the move its over and usually ppl get in and then trend changes to wipe them out or they counter the move and it continues after enough stops are sitting at the next level.

So you will find urself waiting most of the time.
  • #31,837
  • Oct 29, 2012 12:00pm Oct 29, 2012 12:00pm
Quoting Trader221
I just HAVE TO share this:

http://www.marketwatch.com/story/ban...me_latest_news

The title says it all... Big move - JUST NOT YET!
One has to find a way to sit in this pair and wait for the engineered weakness. Options come to mind...

Olu
If you think you can or cannot do it you are correct
  • #31,838
  • Oct 29, 2012 12:29pm Oct 29, 2012 12:29pm
Quoting sidhujag
once u have more exp u will realize market usually ranges.. Think about
it once ppl catch on of the move its over and usually ppl get in and then trend changes to wipe them out or they counter the move and it continues after enough stops are sitting at the next level.

So you will find urself waiting most of the time.
Yes, thanks. I need to gain enough experience to realize when its about to range...
  • #31,839
  • Oct 29, 2012 12:31pm Oct 29, 2012 12:31pm
On 1h we have bounced of 200 sma, and triple ma are starting to show buy order whith high volumen on 3 bouncing green bars. I belive now U/J and al x/J pairs are waiting for BOJ decision and then the action will start!
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 130 KB
  • #31,840
  • Oct 29, 2012 1:22pm Oct 29, 2012 1:22pm
Quoting Haqu
On 1h we have bounced of 200 sma, and triple ma are starting to show buy order whith high volumen on 3 bouncing green bars. I belive now U/J and al x/J pairs are waiting for BOJ decision and then the action will start!

Bring it on BOJ. Bring it on...

Olu
If you think you can or cannot do it you are correct
59 traders viewing now, 1 is registered:
EdekiJoshua