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  • #2,781
  • Edited 8:05pm Jan 20, 2013 7:29pm | Edited 8:05pm
Quoting Crassius
EURJPY stop hit.... +16 on the whole trade.... Damn.. I had visions of cash registars ringing in my head....

USDJPY just got hit as well.... - 52 pips on that one....

Roro is away to the races.....
very nice, and thank you, but as you and i and others know it is all about a lot of intangibles necessary to be and stay in the 'game' as you describe it

great positive posts. enjoy the dialogue with you

btw...that race can get turned around in a flash in this mkt.....hope not, but also realistic
  • #2,782
  • Jan 20, 2013 7:32pm Jan 20, 2013 7:32pm
I know there is support in the circled area, and maybe that will catch it.... but breaking that channel top by more than a few pips killed it for me.... At some point the chart becomes so injured you have to conclude you are wrong on that trade and get out.... then go on to the next trade..
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  • #2,783
  • Jan 20, 2013 8:35pm Jan 20, 2013 8:35pm
Quoting Crassius
I know there is support in the circled area, and maybe that will catch it.... but breaking that channel top by more than a few pips killed it for me.... At some point the chart becomes so injured you have to conclude you are wrong on that trade and get out.... then go on to the next trade..
diversion

nyc ballet

Inserted Video
  • #2,784
  • Edited 2:21am Jan 21, 2013 2:00am | Edited 2:21am
Quoting Crassius
USDJPY just got hit as well.... - 52 pips on that one....

Roro is away to the races.....
I rode USDJPY up on the last leg of wave (ii) of the attached chart and booked 61 pips near the exact top of wave (iii), as it hit the 2.618 extension, then bought back in a little higher than I wanted as the retrace did not go as deep as usual...

All looked good for a (v) wave aqua ride to at least 90.70 and possibly 91.40.... then I got slammed in Asia trade this morning and gave back nearly all last weeks USDJPY profits...

JPY is of course being manipulated higher by the BOJ, and specs have been happily riding the rumor up since Abe started wagging his lips... driving the pair up roughly 10%....

Since this is a manipulated pair actively being revalued by BOJ interventions in the market, anything can happen. It may not reflect the normal motion of a market, since it isn't a real market right now....

But here is my thinking on USDJPY. I think the wave (v) must already be in , because the basing channel line top often contains any pullback in wave (iv)... that make it less likely we are in some kind of a complex correction, where wave 4 is still underway

... although its possible until we get a print below the top of wave 1 (overlapping and not allowed in a wave 4 position)....

Given the central banks intervention in the market, I am not going to try to play this pair to the downside, but look to buy it back lower... 87.00 to 86.50.... after it finishes the larger scale correction, that appears to be in its first stages, and will get underway after the BOJ meeting either disappoints, or a "sell the fact" downturn plays out....
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  • #2,785
  • Jan 21, 2013 2:13am Jan 21, 2013 2:13am
Morning
Low risk sell from now, with tight stops.
I would think about 1,3248 then 1,3179 and final third wall @ 1,3140
seems like Brits pushing sterling up a little at the moment
Catch you later
Tom
swing it!
  • #2,786
  • Jan 21, 2013 3:00am Jan 21, 2013 3:00am
taking partial profit on uj short. 89.39 move stp down and let the balance run......closed the Oil

Quoting Crassius
I rode USDJPY up on the last leg of wave (ii) of the attached chart and booked 61 pips near the exact top of wave (iii), as it hit the 2.618 extension, then bought back in a little higher than I wanted as the retrace did not go as deep as usual...

All looked good for a (v) wave aqua ride to at least 90.70 and possibly 91.40.... then I got slammed in Asia trade this morning and gave back nearly all last weeks USDJPY profits...

JPY is of course being manipulated higher by the BOJ, and specs have been happily riding the rumor up since Abe started...
  • #2,787
  • Jan 21, 2013 3:01am Jan 21, 2013 3:01am
Short GPBUSD from 5875.. will add a break of 5855
  • #2,788
  • Jan 21, 2013 3:02am Jan 21, 2013 3:02am
Quoting Crassius
Short GPBUSD from 5875.. will add a break of 5855
Seems early... really wanted to short a little higher, but watching price action.... stop now has to be little farther away than I want... just means I have to go with a smaller position...
  • #2,789
  • Jan 21, 2013 3:08am Jan 21, 2013 3:08am
GPBUSD Chart...Need a break below 5860 to confirm...
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  • #2,790
  • Jan 21, 2013 3:10am Jan 21, 2013 3:10am
Quoting Crassius
Short GPBUSD from 5875.. will add a break of 5855
i have to think this has something to do with the Pound

http://www.telegraph.co.uk/news/poli...thin-days.html
  • #2,791
  • Jan 21, 2013 3:18am Jan 21, 2013 3:18am
Quoting roro53
i have to think this has something to do with the Pound

http://www.telegraph.co.uk/news/poli...thin-days.html

I wonder if they'll vote like Ireland...

When you don't get the result you want... you hold another vote
  • #2,792
  • Jan 21, 2013 3:45am Jan 21, 2013 3:45am
GPBUSD stop loss set at 5895... I dont like the overlapping price action... likely got suckered in too early... best to cut it off if hit for small loss
Attached Image
  • #2,793
  • Jan 21, 2013 4:21am Jan 21, 2013 4:21am
Quoting Crassius
GPBUSD stop loss set at 5895... I dont like the overlapping price action... likely got suckered in too early... best to cut it off if hit for small loss

Just took half of my tiny sized position off at BE.... sticking with a very very small size in case have to add higher... not sure of the count... We are in wave C, and I can count five wave up... but is it five waves of wave 1 of C or five ways making up all of C? I can't tell, butthe overlapping price action noted earlier makes me nervous... by cutting the position size to miniscule now at BE, I can add later higher or lower.... but still have a little action..
  • #2,794
  • Jan 21, 2013 5:39am Jan 21, 2013 5:39am
Good Monday Morning Everybody
Isn't a bit boring day?
I sit on my hands waiting what will happen near support line zone (RED) in next two, three hours.
If we break it, I think we’ll see 1.32500 today.
If however bulls manage to defend this area, it’s gonna be possible to attack further 2012 highs at 1.34800.
As far as now, I drink coffee and watch ;-)

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Read Charts - Not Papers
  • #2,795
  • Jan 21, 2013 5:46am Jan 21, 2013 5:46am
Quoting halkins
Good Monday Morning Everybody

If we break it, I think we’ll see 1.32500 today.

Attachment
Thanks for the chart...

I am tracking two EURUSD counts... I favor a triangle forming which has us staying above 3280...

However I have a second count that I see as somewhat less probable that would call for a test and hold of 3250....

As long as we are above 3135 I am bullish. This is bull market on a larger scale... and I see us on track to 3490, then 3800 as long as 3135 holds... any setbacks to 3250 etc are just the normal pull backs in any bull market...

That said.. I prefer to stay above 3280 so I can day dreanm this slow day away....
  • #2,796
  • Jan 21, 2013 5:46am Jan 21, 2013 5:46am
Quoting halkins
Good Monday Morning Everybody
Isn't a bit boring day?
I sit on my hands waiting what will happen near support line zone (RED) in next two, three hours.
If we break it, I think we’ll see 1.32500 today.
If however bulls manage to defend this area, it’s gonna be possible to attack further 2012 highs at 1.34800.
As far as now, I drink coffee and watch ;-)

Attachment
morning Sir

Thinking about the same level, wish to see good reaction near it. This could be a ranging day as well, shorts are in favour atm in terms of intraday.
swing it!
  • #2,797
  • Jan 21, 2013 5:50am Jan 21, 2013 5:50am
Quoting Crassius
Thanks for the chart...

I am tracking two EURUSD counts... I favor a triangle forming which has us staying above 3280...

However I have a second count that I see as somewhat less probable that would call for a test and hold of 3250....

As long as we are above 3135 I am bullish. This is bull market on a larger scale... and I see us on track to 3490, then 3800 as long as 3135 holds... any setbacks to 3250 etc are just the normal pull backs in any bull market...

That said.. I prefer to stay above 3280 so I can day dreanm this slow day...
I got monthly pivot at 3128 heavy buying from that and I will change 1,35 for 1,41 it would take time of course but as Gator said BOJ is behing current leg more than anything else, I agree with that
Finally got connection and enjoying lunch break
swing it!
  • #2,798
  • Jan 21, 2013 5:54am Jan 21, 2013 5:54am
Quoting Crassius
Thanks for the chart...

I am tracking two EURUSD counts... I favor a triangle forming which has us staying above 3280...

However I have a second count that I see as somewhat less probable that would call for a test and hold of 3250....

As long as we are above 3135 I am bullish. This is bull market on a larger scale... and I see us on track to 3490, then 3800 as long as 3135 holds... any setbacks to 3250 etc are just the normal pull backs in any bull market...

That said.. I prefer to stay above 3280 so I can day dreanm this slow day...
Hi Crassiusn, Tomspin...
Actually I watch EURUSD, but if I will enter any trades today I will probably go into GBPUSD or AUDUSD.
I can see a bigger momentum on other pairs too.
If we have to go higher, I'd like to jump on GBPUSD...
I hope to see some action this afternoon, as I have some other plans for later on
Read Charts - Not Papers
  • #2,799
  • Edited 5:57am Jan 21, 2013 5:56am | Edited 5:57am
Quoting Crassius
I wonder if they'll vote like Ireland...

When you don't get the result you want... you hold another vote
Majority of people in Britain want to leave EU, I lived there for few years and the only relationship they want with europe is purely from the business point of view + free labour market movement of people and even this restricted. If there will be a vote people of britain will say no to EU - 100%
They need europe for import/export but they don't want to be ruled by unelected european dictatorship in Brussel.
swing it!
  • #2,800
  • Jan 21, 2013 5:59am Jan 21, 2013 5:59am
Quoting halkins
Hi
If we have to go higher, I'd like to jump on GBPUSD...
Yes we know about your afternoon girlfriends... a delight, no doubt..

I am bearish GBPUSD as long as below 5960... pull back is underway before resumption of downtrend... I will add to my tiny sized short as we move higher.... don't think we get anywhere near 5960 before we continue toward 5800
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