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GBP/JPY

  • #941
  • Dec 19, 2012 6:07am Dec 19, 2012 6:07am
short TP1 136.4 TP2 135.5 SL 138.3
hopefully this won't become the nightmare before christmas
  • #942
  • Dec 19, 2012 7:49am Dec 19, 2012 7:49am
Quoting forex_J
short TP1 136.4 TP2 135.5 SL 138.3
hopefully this won't become the nightmare before christmas
I am short e/j 111.40
  • #943
  • Dec 19, 2012 8:02am Dec 19, 2012 8:02am
Quoting Fx-gtg
I am short e/j 111.40
Maybe next week or tommorow at earliest we both make good money


BTW, isn't it nice to make money by just making such bold predictions?

http://blogs.marketwatch.com/thetell...-by-saxo-bank/

USD/JPY = 60
EUR/CHF = .95
  • #944
  • Dec 19, 2012 8:08am Dec 19, 2012 8:08am
On the weekly TF the 200ma is at 139.580, and if you look at the Monthly that would make a nice spike outside the bollinger.

food for thought on when things will turn south???
  • #945
  • Dec 19, 2012 8:19am Dec 19, 2012 8:19am
Guys.
Whoever you are Short!
Do you read the Charts ?
Look at Past few weeks, whenever we are in Over Bought Conditions.. Do we drop like 200-300 pips ?
We just pullback around 60-80 or max 100 pips.. and trade in range for few days, and than Pump Again upside.

Since many years YEN Has been strengthening crazily!!

Abe Wants YEN to weaken now
BOJ Looks to ease further more, They met today, tomorrow is 2nd day meeting of them
26th Dec Abe would become Prime Minister...

Thanks.

P.S. but someone has to be "Short", or else how the "Long" traders trade ..

G/J is looking to go for 139-140 zone. And than we might see some retrace back to 138 levels or so..
Weekly and Monthly indicating an awesome momentum to push Upside.
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #946
  • Dec 19, 2012 8:23am Dec 19, 2012 8:23am
Quoting forex_J
Maybe next week or tommorow at earliest we both make good money


BTW, isn't it nice to make money by just making such bold predictions?

http://blogs.marketwatch.com/thetell...-by-saxo-bank/

USD/JPY = 60
EUR/CHF = .95
SaxoBank is crazy! And the worst broker ever.
I had an account with them back in 2004.
They just make such stupid predictions, to get a Huge Market Spotlight.. all PR Campaign..
At the end of the day what they lose if there predictions are not met ??? Nothing..
They are not Analytical firm.
They are a Brokerage Firm, looking to spread the Brand name, Make a huge PR social.. fetch new clients..
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #947
  • Dec 19, 2012 8:25am Dec 19, 2012 8:25am
Quoting aviz12
Guys.
Whoever you are Short!
Do you read the Charts ?
Look at Past few weeks, whenever we are in Over Bought Conditions.. Do we drop like 200-300 pips ?
We just pullback around 60-80 or max 100 pips.. and trade in range for few days, and than Pump Again upside.

Since many years YEN Has been strengthening crazily!!

Abe Wants YEN to weaken now
BOJ Looks to ease further more, They met today, tomorrow is 2nd day meeting of them
26th Dec Abe would become Prime Minister...

Thanks.

P.S. but someone has to be "Short", or else how the "Long" traders...

I was told almost the same thing when E/U was around 1.21 and how stupid I was to go long and E/U has no fundamental and technical reasons whatsoever to turn upside then 1.16 was inevitable blah blah and when I gave up and went short that's the bottom I got I have SL anyway so not big deal even if it gets hit.
  • #948
  • Dec 19, 2012 8:29am Dec 19, 2012 8:29am
Quoting forex_J
I was told almost the same thing when E/U was around 1.21 and how stupid I was to go long and E/U has no fundamental and technical reasons whatsoever to turn upside then 1.19 was inevitable blah blah and when I gave up and went short that's the bottom I got I have SL anyway so not big deal even if it gets hit.
If you trade whenever you read or listen to someone, Sorry my friend, but thats not trading!
You should trade only when you know whats happening in the market..
No one knows about future.
Just follow the trend, you should even know when to exit the position sooner..
I am saying 139/140 for G/J i maybe wrong, but thats what charts tell me..
But i know if G/J falls to 111.. I know something is happening, maybe a retrace, or are we going for a huge dip.. I would than check the charts and study..

But as Fundamentals Support, Technicals support, Currently Charts says 140 is in touch this week. We would Kiss it 1st time, retrace back, and than SLAM it on the face 2nd time (kiss wasnt that good ) and move upside..
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #949
  • Dec 19, 2012 8:35am Dec 19, 2012 8:35am
Quoting aviz12
If you trade whenever you read or listen to someone, Sorry my friend, but thats not trading!
You should trade only when you know whats happening in the market..
No one knows about future.
Just follow the trend, you should even know when to exit the position sooner..
I am saying 139/140 for G/J i maybe wrong, but thats what charts tell me..
But i know if G/J falls to 111.. I know something is happening, maybe a retrace, or are we going for a huge dip.. I would than check the charts and study..

But as Fundamentals Support, Technicals support, Currently...
That's why now I'm not listening to you and stick with my short. Even if it got SL it's not that I am completely out of market so don't tempt me to go long!

BTW I wouldn't expect G/J to fall 111. just 135-136 for now.
  • #950
  • Dec 19, 2012 8:37am Dec 19, 2012 8:37am
Quoting forex_J
That's why now I'm not listening to you and stick with my short. Even if it got SL it's not that I am completely out of market so don't tempt me to go long!

BTW I wouldn't expect G/J to fall 111. just 135-136 for now.
Sorry It was E/J.. for 111

True.. G/J target is 140 this week.. than little pullback around 138/139..
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #951
  • Dec 19, 2012 1:56pm Dec 19, 2012 1:56pm
Quoting aviz12
Sorry It was E/J.. for 111

True.. G/J target is 140 this week.. than little pullback around 138/139..
140 definitely seems like its in the cards this week especially if Abe lives up to his word & begins easing as early as tomorrow.
It works till it doesn't
  • #952
  • Dec 19, 2012 7:01pm Dec 19, 2012 7:01pm
Quoting forex_J
short TP1 136.4 TP2 135.5 SL 138.3
hopefully this won't become the nightmare before christmas
TP1 hit already and the rest is set to BE at worst!
  • #953
  • Dec 19, 2012 11:20pm Dec 19, 2012 11:20pm
Expecting one more HH, probably a test of 138 area and then a change in the uptrend angle to enter in the empty rectangle zone.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy h1.gif Size: 32 KB
  • #954
  • Dec 20, 2012 12:49am Dec 20, 2012 12:49am
Quoting pabloski
Expecting one more HH, probably a test of 138 area and then a change in the uptrend angle to enter in the empty rectangle zone.
I cut a decent amount of my remaining longs in these yen crosses around 8pm est & I'm not sure it was the right move. I'm temped to add into these trades but I don't want to be glued to the screens till year end. I still have a good amount of exposure on & the last 3 weeks has been amazing. Just thinking out loud folks don't mind me. Although I do find these levels interesting to buy more with the expectation the fiscal cliff will be resolved sooner than later, I can't commit the time required to properly manage a large position so I'm going to stick to plan & just keep adjusting my stops till the market tells the move is done.
It works till it doesn't
  • #955
  • Dec 20, 2012 7:47am Dec 20, 2012 7:47am
Quoting DaEdge
I cut a decent amount of my remaining longs in these yen crosses around 8pm est & I'm not sure it was the right move. I'm temped to add into these trades but I don't want to be glued to the screens till year end. I still have a good amount of exposure on & the last 3 weeks has been amazing. Just thinking out loud folks don't mind me. Although I do find these levels interesting to buy more with the expectation the fiscal cliff will be resolved sooner than later, I can't commit the time required to properly manage a large position so I'm going to...
Always glad to read your opinions DaEdge. It's hard to decide when to be out after this ride but I'm still holding my longs for some more time. The uptrend should decelerate now but I think we still have to see Higher Highs.

Seems we're on track, I'll be watching carefully yesterday's high zone.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy m15.gif Size: 32 KB
  • #956
  • Dec 20, 2012 8:00am Dec 20, 2012 8:00am
Quoting pabloski
Always glad to read your opinions DaEdge. It's hard to decide when to be out after this ride but I'm still holding my longs for some more time. The uptrend should decelerate now but I think we still have to see Higher Highs.

Seems we're on track, I'll be watching carefully yesterday's high zone.
Thank you for engaging sir it is very much appreciated. It appears as the add ins would have been the right move but my plan was to take 2 weeks off for the holidays & I've had a great year so there's no reason to risk putting myself in bad spirits for the holidays at this point. I'm thankful that I did keep a portion of my initial positions on. I agree with you in thinking we will make another run a highs before any significant pullbacks i believe we are going into another consolidation as we were in a few weeks ago before this move started basically waiting for the fiscal cliff to be resolved. Hope your trading is going well and your banking tons of pips.
It works till it doesn't
  • #957
  • Dec 20, 2012 8:42am Dec 20, 2012 8:42am
It's all about levels, right?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy m15.gif Size: 32 KB
  • #958
  • Dec 20, 2012 10:29am Dec 20, 2012 10:29am
Quoting pabloski
It's all about levels, right?
price has memory
It works till it doesn't
  • #959
  • Dec 20, 2012 1:00pm Dec 20, 2012 1:00pm
Re-approaching today's high, let's hope for a nice break
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy m15.gif Size: 37 KB
  • #960
  • Dec 20, 2012 3:12pm Dec 20, 2012 3:12pm
Quoting pabloski
Re-approaching today's high, let's hope for a nice break
Have been buying in Dips.
Scalping as well. Been quite of a range trade today. Its good, we have a nice overbought situation adjusted..

00:30 GMT we have House to vote for Plan B - Boehner Plan.. Lets see the outcome.
Mkt is quite awaiting Fiscal news update also.. to find short-term direction.
Classical chart patterns of currencies from 15+ Year Pro Trader
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