Even the worst trade can close with profit. Just give it time.
- #753,001
- Feb 1, 2013 12:55am Feb 1, 2013 12:55am
- | Joined Dec 2011 | Status: NZ Trader | 1,652 Posts
- #753,005
- Feb 1, 2013 12:58am Feb 1, 2013 12:58am
- Joined Nov 2008 | Status: fx indices commodities | 4,145 Posts
Also something to watch is USDJPY & 9024 the high last week.
Looks like its going to get taken out despite all the talk.
All the yens are weakening just on the back of comments
from Japans Economics minister.
"They would have no problem with seeing USDJPY at 100"
That's another 1000 points if it breaks 9024
The USDJPY Daily chart looks ridiculous but then again look
at Gold monthly chart
After posting this comment some chap pointed
out that the RSI was way overdone and this
wasn't a good idea!
rat
- #753,006
- Feb 1, 2013 12:59am Feb 1, 2013 12:59am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
ah the lure of catching the top
1 - It HAS been going up relentlessly - only minor retraces
2 - It has just made a new high and not yet retested it
so to my mind looking for an entry to test the high seems favorable
- #753,007
- Feb 1, 2013 12:59am Feb 1, 2013 12:59am
- | Membership Revoked | Joined Aug 2012 | 8,502 Posts
- #753,009
- Feb 1, 2013 1:00am Feb 1, 2013 1:00am
- Joined Nov 2008 | Status: fx indices commodities | 4,145 Posts
Well I disagree with you, look at the daily chart with RSI indicator, it's pointing towards weakness of the pair and the possibility of 300-400 pips move towards 87.20/30 zone.
Another clue, check the weekly chart, is it possible to move 1200 pips without the tiniest retrace in the weekly chart? I truley doubt it dude, on the contrary, I see the move towards 87 zone will give the buyers the "golden chance" to jump into this stopless bull train!
Just my thoughts
rat
- #753,012
- Feb 1, 2013 1:02am Feb 1, 2013 1:02am
- | Membership Revoked | Joined Aug 2012 | 8,502 Posts
and here is the high test....
- #753,014
- Feb 1, 2013 1:04am Feb 1, 2013 1:04am
- Joined Nov 2008 | Status: fx indices commodities | 4,145 Posts
me too
Another 130 maxdoom on EJ on fire
rat
- #753,015
- Feb 1, 2013 1:05am Feb 1, 2013 1:05am
- | Joined Jan 2012 | Status: Trader | 1,086 Posts
Nice move 
- #753,016
- Feb 1, 2013 1:05am Feb 1, 2013 1:05am
That is my TP now for the short I just took...
For 25 to be hit you need a quick spike down, or a bigger development at the top, with a possible new high
I'll still hold gbpjpy for new highs
- #753,017
- Feb 1, 2013 1:06am Feb 1, 2013 1:06am
- Joined Jun 2012 | Status: ケンジ | 21,416 Posts
Short @1.3652
1.3683 is so close
- #753,019
- Feb 1, 2013 1:07am Feb 1, 2013 1:07am
- Joined Nov 2008 | Status: fx indices commodities | 4,145 Posts
rat
- #753,020
- Feb 1, 2013 1:08am Feb 1, 2013 1:08am
- | Membership Revoked | Joined Aug 2012 | 8,502 Posts
1.3683 is so close
I know dude set an appropriate SL already.