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AUD/JPY, CAD/JPY, CHF/JPY, EUR/JPY, GBP/JPY, NZD/JPY, USD/JPY

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JPY Cross Pairs

  • #221
  • Feb 11, 2013 4:21pm Feb 11, 2013 4:21pm
Quoting BobGnarly
I use a mental stop loss... 95% of the time.. on small little trades that I dont want to look at I will set a TP and SL and barely look at the trade.
Bob, congratulations.. Sometimes I feel like in dot.com boom like today.. When stocks going higher and higher and can drop any second..

We leaving in world of "Smoke and mirrors". Bunch of counterfeiters and crooks printing money left and right, anything can happened any day now..

Can you imaging GOLD dropping in this environment? Everything is cooked and crooked.. G-20 should be interesting..

That's is why I moved to Stocks last couple of years.. Too old for Forex, I guess.. At least with stocks I can have normal

9:30 - 4:00 days, Saturday, Sunday + Holidays off, Forex is crazy.. Risk is high and probability is low.. IMHO.. Sure it's good for young

people with the tight budget, so they can leverage up.. Let's see what's up.. Good luck!
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  • #222
  • Feb 11, 2013 4:29pm Feb 11, 2013 4:29pm
Quoting SkyzerFX
Bob, congratulations.. Sometimes I feel like in dot.com boom like today.. When stocks going higher and higher and can drop any second..

We leaving in world of "Smoke and mirrors". Bunch of counterfeiters and crooks printing money left and right, anything can happened any day now..

Can you imaging GOLD dropping in this environment? Everything is cooked and crooked.. G-20 should be interesting..

That's is why I moved to Stocks last couple of years.. Too old for Forex, I guess.. At least with stocks I can have normal

9:30 - 4:00 days, Saturday,...






Yes I guess I am one of the young ones trying to make it big in forex I started investing in stocks when I was 18 and did quite well, I have a very broad portfolio currently. I treat forex like investing, I know its not the normal style by any means but if you bring up monthly charts on a currency pair or a stock, guess what? They follow the same trends and breakouts etc... So far it has been working for me and I hope to do this full time one day
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  • #223
  • Feb 11, 2013 5:42pm Feb 11, 2013 5:42pm
Quoting BobGnarly
Love the thread , pips! I am very patient

I am long UJ @90.54
GJ @ 145.25
EJ at 124.30
EU @ 1.3380
Short @au at 1.0313


I am looking @ adding to some longs


cut the au short at 1.0258 + 55.... Reason for this is adding a UCad long with A 1.0260 TP.
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  • #224
  • Edited 6:16pm Feb 11, 2013 6:02pm | Edited 6:16pm
Quoting BobGnarly

I know its not the normal style by any means but if you bring up monthly charts on a currency pair or a stock, guess what? They follow the same trends and breakouts etc... So far it has been working for me and I hope to do this full time one day
There we go, I should try this, definitely, but my broker has 0.10 lot minimum, for me it's little bit too high to feel comfortable, but those guys

is the only ones, which supporting "hedging" (buy/sell on the same pair) for US based customers...

Also, I pissed, that I cannot trade Metals of the MT4 for the same reason..

I'm comfortable with 0.05 lot, cause I'd rather take 3-4 positions

within range instead of just one.. 0.10 too much for averaging and multi-pair trading, for me at least.. I feel much safer to split trades within

pairs and ranges, instead of just go with the one single shot.. I'll talk to you later..
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  • #225
  • Feb 11, 2013 6:24pm Feb 11, 2013 6:24pm
Quoting ssaqeel
I adore your patience bro,,,,,,,,,,, more green pips you and rest of us


Always be patient
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  • #226
  • Feb 11, 2013 6:42pm Feb 11, 2013 6:42pm
"This morning, in an understated way (of course) ahead of the G-20 group-hug at the end the week, Economic and fiscal policy minister Akira Amari stated "It will be important to show our mettle and see the Nikkei reach the 13,000 mark by the end of the fiscal year (March 31)." This level for the Nikkei implies a USDJPY level of 104.75 (or a further 12% devaluations for here). However, there is a strong correlation between the USD-JPY exchange rate and the S&P 500-to-Nikkei 225 relationship. Based on that 104.75 target (and the toungue-in-cheek belief that this will help Japan's competitiveness - which means someone else has to suffer), the ratio of the SPX to NKY would be 8.7x. So while the Nikkei would see a 17% surge (in nominal value), the S&P 500 would lose 3-4% from here.

Amari (and implicitly Abe) want 13,000 by the end of March - which is simply a Birinyi-Ruler linear extrapolation of the current move - this implies a USDJPY rate of 104.75..."

Source:
http://www.zerohedge.com/news/2013-0...sp-will-suffer
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  • #227
  • Feb 11, 2013 6:47pm Feb 11, 2013 6:47pm
Quoting SkyzerFX
"This morning, in an understated way (of course) ahead of the G-20 group-hug at the end the week, Economic and fiscal policy minister Akira Amari stated "It will be important to show our mettle and see the Nikkei reach the 13,000 mark by the end of the fiscal year (March 31)." This level for the Nikkei implies a USDJPY level of 104.75 (or a further 12% devaluations for here). However, there is a strong correlation between the USD-JPY exchange rate and the S&P 500-to-Nikkei 225 relationship. Based on that 104.75 target (and the toungue-in-cheek...



Perfect

Yes my lowest lot size is.10 as well but I makeit work
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  • #228
  • Feb 11, 2013 6:50pm Feb 11, 2013 6:50pm
Quoting BobGnarly
Perfect

Yes my lowest lot size is.10 as well but I makeit work

Yeap, I get used to it also..
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  • #229
  • Feb 12, 2013 2:52am Feb 12, 2013 2:52am
Quoting 100PipsADay
To be honest, I don't really have an exact reason why I don't normally trade the other pairs. Sometimes I trade GBP/JPY but not often.

If you look at a weekly chart for AUD/JPY you will notice that it was basically stuck in a 1500 (73 - 88) pip range making it a pretty predictable pair to trade from 2009 - 2012. Now we have broken out of that 4 year range so after some sort of correction we should be seeing more movement to the upside. The same thing can be said for NZD/JPY.

AUD, NZD, and CAD could be classified as "risk on / risk off" currencies...
Thanks for your reply . I also trade AUD,NZD but I choose aud/usd ,nzd/usd . i have no exprerience with aud/jpy and nzd/jpy. do you have information about the different between those 2 pairs? thanks for your kind information
  • #230
  • Feb 12, 2013 3:03am Feb 12, 2013 3:03am
Quoting ronald_fsm
Thanks for your reply . I also trade AUD,NZD but I choose aud/usd ,nzd/usd . i have no exprerience with aud/jpy and nzd/jpy. do you have information about the different between those 2 pairs? thanks for your kind information
Hi Ronald,

I also trade AUD/USD but to be honest, NZD/USD doesn't seem to respect support / resistance or trend lines as well as AUD/USD does in my opinion so I personally don't trade it as often.

I guess this is why I prefer trading AUD/JPY over even NZD/JPY...

What pair you trade, the time frame you trade, and style of trading all boils down to personal preference so make sure you stick with what is comfortable for you.

If you pull up weekly / monthly charts for AUD/USD, NZD/USD, AUD/JPY, and NZD/JPY you will see that the AUD trades much smoother than NZD pairs. Again, this is only my perspective and my opinion.

One thing I have noticed about XXX/JPY pairs (JPY cross pairs) is that they seem to trend the best out of all of the different currency pairs which is why I enjoy trading them the most. I use a Trend Strategy which works great with JPY cross pairs!
  • #231
  • Feb 12, 2013 4:29am Feb 12, 2013 4:29am
Quoting SkyzerFX
Dude, switch you 5 min chart to 4 hours, Zoom out, bro, Zoom out...
yes you are right, i use 1 min charts, but i am not scalper, and see maybe one or two signals per day. I do not know the price of gold about three years, it's not important for me. I traded in a time when fundamentals function perfectly. in time when correlations function perfectly. It is past. All TA is similar, sometimes works suport or rezistance or EW or triangle or diamond or buterfley, or Fibonachi or. or or etc., sometimes if works not we call they traps for bears or buls Forex world has changed.

so one importatnt thing for me is what hapens now, forex world is for me like stadium where there are several herds one or two wolfs herds, one or two sheeps herds and among them some neutral . and I have to know who eats whom now. not tomorow or years ago. currency that yesterday was a predator, but tomorrow may be prey. but i do not know what will be tomorow, or next week. Nobody knows.
p.s for example GPB look like prey, same as yestarday, and the wolf herds now? CHF and USD . But after lunch, it may be change.
  • #232
  • Feb 12, 2013 4:40am Feb 12, 2013 4:40am
Anyone have the opinion that the Pound Yen pair will be holding down the remainder of the stack due to the high impact numbers being less than optomistic???

sjc
  • #233
  • Feb 12, 2013 4:46am Feb 12, 2013 4:46am
Quoting Coondawg71
Anyone have the opinion that the Pound Yen pair will be holding down the remainder of the stack due to the high impact numbers being less than optomistic???

sjc
GBP/USD could be heading much much lower in the coming months which would need to be taken into consideration by anybody who trades GBP/JPY.

Trading GBP/USD for the past 2 years was as easy as finding weekly support / resistance at 1.53 - 1.63 as Cable was stuck in basically a 1000 pip range. Support / Resistance for the pound was very easy to trade from a weekly perspective if you just played the range.

HOWEVER, we are now on the verge of breaking and closing below a 4-Year symmetrical triangle! My thinking is that if we close below this level from a weekly perspective then we will be heading much much much lower in the coming months. This may sound a little far fetched for some here but once we break this 4-year symmetrical triangle we could easily see 1.42 and possibly even go as low as 1.33 in the near future.

This week is CRITICAL for Cable and could determine the main direction of a new trend for the coming months, which is obviously down. Don't get me wrong, 1.53 is still significant and we will definitely see some sort of bounce at that point. But I find it almost impossible to head right back into the range which we have been stuck in for the past 2-3 years...

Hope this helps
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_-_Weekly_(2-11).jpg Size: 71 KB
  • #234
  • Feb 12, 2013 4:47am Feb 12, 2013 4:47am
Quoting Coondawg71
Anyone have the opinion that the Pound Yen pair will be holding down the remainder of the stack due to the high impact numbers being less than optomistic???

sjc
some last yers fundamentals work 50% for up and 50 % for down, it does not matter if they are good or bad. but if you wait for the official FX analysts, they find some reason
  • #235
  • Feb 12, 2013 5:13am Feb 12, 2013 5:13am
Great reply! thanks

sjc
  • #236
  • Feb 12, 2013 5:28am Feb 12, 2013 5:28am
what is the key level to go long on USD/JPY ??
  • #237
  • Feb 12, 2013 5:55am Feb 12, 2013 5:55am
Quoting Coondawg71
Great reply! thanks

sjc
No problem CoonDawg!
  • #238
  • Feb 12, 2013 5:56am Feb 12, 2013 5:56am
careful on the longs.....if yen drops below 93.86 then im shorting this. Risky trade but rewards are there to take it
  • #239
  • Feb 12, 2013 8:00am Feb 12, 2013 8:00am
bang 100 pips in one minute
  • #240
  • Feb 12, 2013 8:05am Feb 12, 2013 8:05am
what happened why did it fall ??


Quoting Foxikus
bang 100 pips in one minute
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