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USD/JPY Discussion

  • #32,261
  • Dec 4, 2012 12:55pm Dec 4, 2012 12:55pm
Quoting DaEdge
I alway nibble in different areas small piece here small piece there till I get size I'm comfortable with. Lower leverage wider stops = larger profit targets & building positions it what works for me & what I'm comfortable with.
Yes that's how I usually play this pair as I have been kicked In the nuts a couple of times with it!
  • #32,262
  • Dec 4, 2012 12:56pm Dec 4, 2012 12:56pm
Quoting brinks
Yes that's how I usually play this pair as I have been kicked I'm the nuts a couple of times with it!
Its not called the widow maker for no reason.
  • #32,263
  • Dec 4, 2012 12:58pm Dec 4, 2012 12:58pm
Quoting sidhujag
Its not called the widow maker for no reason.

Hahaha yes it always makes me smile when someone calls it that
  • #32,264
  • Dec 4, 2012 1:01pm Dec 4, 2012 1:01pm
Quoting Kanzler
My target is fairly modest, not really looking to get a breakout just a bounce back to the resistance zone at the top of the range. Even with that, my ratio is around 8. Can't beat that with a stick!
8:1 not to shabby at all. I'm looking to unload some around the same area myself. I always try to carve out pieces along the way so if the trade goes against me in the end if a I take a loss it's very minimal.
It works till it doesn't
  • #32,265
  • Dec 4, 2012 2:56pm Dec 4, 2012 2:56pm
http://i1356.photobucket.com/albums/...ps8b68c9d0.jpg
It works till it doesn't
  • #32,266
  • Dec 4, 2012 8:43pm Dec 4, 2012 8:43pm
And of course being late to the game price never hits my entry, now it's running off.
  • #32,267
  • Dec 4, 2012 9:29pm Dec 4, 2012 9:29pm
Quoting robertrfx
Getting closer to my level at 81.73. I would rather like long target up to 84.13. However I prefer to wait for PA confirmation. Break below 81.73 may drop to next support level at 80.43. Lets see
I took the long trade at 81.73. Closed one position for 30+ pips and another position running successfully on other account. Hope you guys got something from this quick reversal.
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  • #32,268
  • Dec 4, 2012 9:43pm Dec 4, 2012 9:43pm
Stops to B.E on other trade
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  • #32,269
  • Dec 4, 2012 10:20pm Dec 4, 2012 10:20pm
Quoting robertrfx
I took the long trade at 81.73. Closed one position for 30+ pips and another position running successfully on other account. Hope you guys got something from this quick reversal.
Been in this one for days adding on all the dips & looking to hold going into the elections, obviously booking profits along the way
It works till it doesn't
  • #32,270
  • Dec 5, 2012 12:15am Dec 5, 2012 12:15am
Quoting DaEdge
Been in this one for days adding on all the dips & looking to hold going into the elections, obviously booking profits along the way
Morning Sir, I see that you are killing those pips nicely , I also grabbed an entry at $81.85 last night and I will stick to it as long as I can.

Cheers

P.S: If today the candles break the Kumo at $82.30-35 and confirm that break we can see a nice swing like the other days
  • #32,271
  • Dec 5, 2012 12:22am Dec 5, 2012 12:22am
Quoting MisterSpread
Morning Sir, I see that you are killing those pips nicely , I also grabbed an entry at $81.85 last night and I will stick to it as long as I can.

Cheers
Yes sir im definitely enjoying this PA, I bought some more e/j as well on the US close. Glad to see you got a great entry as well hopefully we get a serious break to the upside in the next couple of sessions this has been a fairly long consolidation & there should be some serious power in the move.
It works till it doesn't
  • #32,272
  • Dec 5, 2012 12:22am Dec 5, 2012 12:22am
Quoting MisterSpread
Morning Sir, I see that you are killing those pips nicely , I also grabbed an entry at $81.85 last night and I will stick to it as long as I can.

Cheers

P.S: If today the candles break the Kumo at $82.30-35 and confirm that break we can see a nice swing like the other days
It's sill ranging though.
  • #32,273
  • Dec 5, 2012 12:24am Dec 5, 2012 12:24am
Quoting brinks
It's sill ranging though.
Agreed, we should definitely see a serious move in one direction or the other in the next couple of sessions.
It works till it doesn't
  • #32,274
  • Dec 5, 2012 12:42am Dec 5, 2012 12:42am
Quoting DaEdge
Agreed, we should definitely see a serious move in one direction or the other in the next couple of sessions.
From what I can see the BOJ are questioning if the easing they did in sept and October was enough,maybe hinting at a lot more to come.

Seems strange they always say they will take bold action when needed and if the Japanese economy shows signs of turning down well surely it is showing those signs.
  • #32,275
  • Dec 5, 2012 12:45am Dec 5, 2012 12:45am
Quoting brinks
It's sill ranging though.
The only reasonable thing why I still think is ranging is because the greenback has pressure from the EUR, after the Greek deal, but Greece? That country is like a bottomless sack... they put again and again and again money into it, because if the Greek's leave the EU it will be catastrophe, is like domino... or a water drain, if the Banking System in Greece fails, follows Spain,Italy and Portugal so that's why they are still pumping cash to them, but wait for Spain to have some problems again or for the people in Athens to have a big riot and you will see the EURUSD at $1.27-28.
Of course here some will say, hey what about Ben's QE ? Well I think that US is slowly recovering and this round of QE no.3 will not have such a big impact like QE1&2! Ohhh man here I go again with my nonsense , watch the graphs, trade with logic and trust your guts, all the other things are just shadows in the sun
  • #32,276
  • Dec 5, 2012 12:47am Dec 5, 2012 12:47am
Quoting MisterSpread
The only reasonable thing why I still think is ranging is because the greenback has pressure from the EUR, after the Greek deal, but Greece? That country is like a bottomless sack... they put again and again and again money into it, because if the Greek's leave the EU it will be catastrophe, is like domino... or a water drain, if the Banking System in Greece fails, follows Spain,Italy and Portugal so that's why they are still pumping cash to them, but wait for Spain to have some problems again or for the people in Athens to have again a big riot...

You make a good point about QE3 the dollar didn't lose as much against the yen when they announced it so another sign to be positive about longs in my opinion,just depends if the fed increase the amount
  • #32,277
  • Dec 5, 2012 12:50am Dec 5, 2012 12:50am
Quoting brinks
From what I can see the BOJ are questioning if the easing they did in sept and October was enough,maybe hinting at a lot more to come.

Seems strange they always say they will take bold action when needed and if the Japanese economy shows signs of turning down well surely it is showing those signs.
I was reading the same things. At this point I'm just watching the PA & looking for levels to be broken & taking pieces off along the way. If we do get a solid break & close above some higher levels we should get a pullback or consolidation shortly after where all add more in.
It works till it doesn't
  • #32,278
  • Dec 5, 2012 12:53am Dec 5, 2012 12:53am
Quoting DaEdge
I was reading the same things. At this point I'm just watching the PA & looking for levels to be broken & taking pieces off along the way. If we do get a solid break & close above some higher levels we should get a pullback or consolidation shortly after where all add more in.

Yep same play as it has been the last few weeks.

But at what point will everybody be looking at trend reversal ? and may be a bigger move ?
Break of 85.51.

When do these trades become a long term hold?
  • #32,279
  • Dec 5, 2012 1:04am Dec 5, 2012 1:04am
Quoting brinks
Yep same play as it has been the last few weeks.

But at what point will everybody be looking at trend reversal ? and may be a bigger move ?
Break of 85.51.

When do these trades become a long term hold?

My opinion ? After $84.80 until that point is all ranged
  • #32,280
  • Dec 5, 2012 1:07am Dec 5, 2012 1:07am
Quoting MisterSpread
My opinion ? After $84.80 until that point is all ranged
Thanks Mister S have a good day
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