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EUR/JPY Trading Room

  • #201
  • Dec 14, 2012 8:18am Dec 14, 2012 8:18am
Quoting Razor_trader
If your short it should be based on a breakout and pullback entry with scalper mentality. Don't want to get to the party too late on a day that is only showing some minor direction. As Lapozi stated, JPY election on the 16th so expect some fireworks on Monday. JPY is still keen to continue weaking its currency to provide exporters with some relief. Short sides to beware at this stage.
Thank you for your advice Razor. I'm definitely with you in that the JPY will continue to weaken in the coming weeks and months ahead, based on everything I've read. My E/J short trade today is definitely just a scalp. I have a tight stop in place and actually added to my position on this pullback in the last few minutes. I will certainly liquidate before the close if in profit or accept the small loss if my s/l is hit. Regardless, I'm looking to rejoin the uptrend on price action signals in the coming days.

Health, wealth, and happiness to all.
  • #202
  • Dec 14, 2012 8:21am Dec 14, 2012 8:21am
Quoting FxLapozi
That's pretty late entry. Use tight SL for good.
I'm trading the breakout from the pivot low at around 109.40 that was established around 5:30am est.
  • #203
  • Dec 14, 2012 8:36am Dec 14, 2012 8:36am
Quoting given2fly
I'm trading the breakout from the pivot low at around 109.40 that was established around 5:30am est.
I see.

I m using different system. It's okay. 108.xx is definitely on cards
  • #204
  • Dec 14, 2012 9:10am Dec 14, 2012 9:10am
I will wait for reaction on 108, this area is worth watching
  • #205
  • Dec 14, 2012 10:16am Dec 14, 2012 10:16am
I fortunately moved my stop to b/e once price dipped below 109.10 for the 2nd time. Now I remember why I rarely trade counter-trend anymore.
  • #206
  • Dec 14, 2012 10:18am Dec 14, 2012 10:18am
Quoting given2fly
I fortunately moved my stop to b/e once price dipped below 109.10 for the 2nd time. Now I remember why I rarely trade counter-trend anymore.
It's okay. You can short now if you want. It will go down
  • #207
  • Dec 16, 2012 3:51pm Dec 16, 2012 3:51pm
Market is open with gap touching my area.......so lets have a short .......
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  • #208
  • Dec 16, 2012 4:17pm Dec 16, 2012 4:17pm
Quoting avijitpyne
Market is open with gap touching my area.......so lets have a short .......


wow.................. 40 profit with opening..........
  • #209
  • Dec 16, 2012 4:28pm Dec 16, 2012 4:28pm
It's heading up now
  • #210
  • Dec 16, 2012 4:29pm Dec 16, 2012 4:29pm
Quoting FxLapozi
It's heading up now
extremely fast as well
It works till it doesn't
  • #211
  • Dec 16, 2012 4:48pm Dec 16, 2012 4:48pm
Yen is dangerous. It's falling again
  • #212
  • Dec 17, 2012 12:28am Dec 17, 2012 12:28am
I'm Thinking of heavily sell eur/jpy with Stop-Loss @ 111.00
Tp below 109.60
Complete the gap,,,

???
prepare for worst & expect the best
  • #213
  • Dec 17, 2012 12:49am Dec 17, 2012 12:49am
Quoting tony_dtrader
I'm Thinking of heavily sell eur/jpy with Stop-Loss @ 111.00
Tp below 109.60
Complete the gap,,,

???
Very hard to read this pair

still small trades,which take longer

no hurry I can wait for some pay back
  • #214
  • Dec 17, 2012 5:56am Dec 17, 2012 5:56am
interesting, the high of 2012 is at 111.42, there are good probabilities that we're going to make new high before end of year, just probabilities.
  • #215
  • Dec 17, 2012 2:46pm Dec 17, 2012 2:46pm
It looks we would hit 114/115 this week, and than a downtrend continues.

Can anyone tell me what kind of pattern we are seeing in Daily Chart of todays candle. It doesnt looks like a Hanging Man.
Looks like Window Gap Closing Pattern, usually a continuation pattern.
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #216
  • Dec 18, 2012 10:24am Dec 18, 2012 10:24am
Quoting aviz12
It looks we would hit 114/115 this week, and than a downtrend continues.

Can anyone tell me what kind of pattern we are seeing in Daily Chart of todays candle. It doesnt looks like a Hanging Man.
Looks like Window Gap Closing Pattern, usually a continuation pattern.
I also agree with you regarding continuation pattern. Look at the PA.Very bullish at the moment. I am also expecting 114/115 prior to major reversal.
  • #217
  • Dec 18, 2012 10:28am Dec 18, 2012 10:28am
Quoting robertrfx
I also agree with you regarding continuation pattern. Look at the PA.Very bullish at the moment. I am also expecting 114/115 prior to major reversal.
I've been long this pair almost 3 weeks now & have been adding in on weakness & booking profits on strength just trading around a core position. I don't have a set target yet I'm just adjusting my stops daily and waiting for the market to tell me when the move is over. I'd be real carefully looking for spots to short this pair every level so far for shorts has gotten its face ripped off.
It works till it doesn't
  • #218
  • Dec 19, 2012 5:34am Dec 19, 2012 5:34am
Quoting robertrfx
I also agree with you regarding continuation pattern. Look at the PA.Very bullish at the moment. I am also expecting 114/115 prior to major reversal.
I wouldnt see a major reversal.
But a slow pullback, and than Buy in Dips, for further Rise..

We have BOJ to ease Further
ABE to become Prime Minister on Dec 26th

Lots of potential fundamental points indicating further YEN weakness down the road.

My 1-3 months target is 125 levels for E/J.

I am just adding and adding in Every Dip.. Booking in Profits, keeping some for longer term period..
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #219
  • Dec 19, 2012 2:29pm Dec 19, 2012 2:29pm
hi everyone. joined this group as I think higher volatility will remain
  • #220
  • Dec 19, 2012 2:30pm Dec 19, 2012 2:30pm
Quoting macroman
hi everyone. joined this group as I think higher volatility will remain
Hopefully this is just the beginning of it.
It works till it doesn't
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