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  • #784,741
  • Apr 8, 2013 1:45pm Apr 8, 2013 1:45pm
Quoting math_GB
Only one of them has been filled @129.20
Where is the stop?
  • #784,742
  • Apr 8, 2013 1:46pm Apr 8, 2013 1:46pm
Quoting attila
Here's a question. Did BOJ actually started to print? Or it's just talk they will?
So far it has only been talk talk dude, the expectation is, they will start with bond asset purchase mid this week.
  • #784,743
  • Apr 8, 2013 1:46pm Apr 8, 2013 1:46pm
Quoting enterfx
So how does a 4 wave look like....? Do you know it's mathematically impossible for a price wave to have only 4 waves? there are three or 5. EW is excellent when you can spot a clear pattern. It's like $$$ in the bank :-), but of course not without risk either.
Elliott Wave is retrospective bullshit. Nobody's ever made any money from it, not even Elliott himself. Pritcher and that other EW guru couldn't even come up with the same wave count.
  • #784,744
  • Apr 8, 2013 1:47pm Apr 8, 2013 1:47pm
Quoting attila
Here's a question. Did BOJ actually start to print? Or it's just talk they will?
All this was started with the announcement, and I believe there was heavy buying in JGB, but I don't know whether it is the BoJ yet. I remember when they first announce QE way back, the yen dropped like a stone just on the word. The Kuroda was voted it and it rallied.
When the facts change I change my mind, what do you do sir
  • #784,745
  • Apr 8, 2013 1:48pm Apr 8, 2013 1:48pm
Quoting math_GB
So far it has only been talk talk dude, the expectation is, they will start with bond asset purchase mid this week.
hmmm.. and then what? buy the rumor, buy the news kind of thing? that will be interesting..
  • #784,746
  • Apr 8, 2013 1:49pm Apr 8, 2013 1:49pm
Quoting Ken A
Where is the stop?
SL 129.35 TP 128.20 FTB will decide before US close...
  • #784,747
  • Apr 8, 2013 1:50pm Apr 8, 2013 1:50pm
Quoting Kanzler
Elliott Wave is retrospective bullshit. Nobody's ever made any money from it, not even Elliott himself. Pritcher and that other EW guru couldn't even come up with the same wave count.

I agree, it's very finicky, but it can offer some guidance.. I mean if it lines up with other things.. But doing those counts(and trade it alone).. I don't know..
  • #784,748
  • Apr 8, 2013 1:54pm Apr 8, 2013 1:54pm
Quoting attila
hmmm.. and then what? buy the rumor, buy the news kind of thing? that will be interesting..
We just made 1.000 pips in 72 hours champ, some retracement will happen soon, don't you think...? I will try to catch one of the tops and weekly res levels seem logical at this stage... 129.28 is the current R1 and that was the reason I decided to take a shot with a short entry @129.20.
  • #784,749
  • Apr 8, 2013 1:55pm Apr 8, 2013 1:55pm
guys where do you expect E/J and E/U to go over the next couple of hours?
Any ideas?
  • #784,750
  • Apr 8, 2013 1:56pm Apr 8, 2013 1:56pm
Quoting math_GB
We just made 1.000 pips in 72 hours champ, some retracement will happen soon, don't you think...? I will try to catch one of the tops and weekly res levels seem logical at this stage... 129.28 is the current R1 and that was the reason I decided to take a shot with a short entry @129.20.
It should by all accounts.. But will it? If you say they'll start buying this week, that might change the dynamic possibly..
  • #784,751
  • Apr 8, 2013 1:57pm Apr 8, 2013 1:57pm
Quoting attila
Here's a question. Did BOJ actually start to print? Or it's just talk they will?
They have been buying long term maturity bonds since Abe Shinzo was elected prime minister. I dont know exact time, but will have a look. Right now, Kuroda just promised to double the amount.
"I know one thing, that I know nothing." Sokrates
  • #784,752
  • Apr 8, 2013 1:58pm Apr 8, 2013 1:58pm
Who did any trades here today?
I did 0.
Tell your trades today.
"You're solid gold, see you in hell"
  • #784,753
  • Apr 8, 2013 2:00pm Apr 8, 2013 2:00pm
Quoting attila
It should by all accounts.. But will it? If you say they'll start buying this week, that might change the dynamic possibly..
Of course mate, that is true. I am only after some tiny retracements. This doesn't feel like it has topped at all...
  • #784,754
  • Apr 8, 2013 2:00pm Apr 8, 2013 2:00pm
Quoting Tom_D_Trader
They have been buying long term maturity bonds since Abe Shinzo was elected prime minister. I dont know exact time, but will have a look. Right now, Kuroda just promised to double the amount.

I really have no idea what are they trying to accomplish (inflation and all that..) but I think they're playing a dangerous game by doing it so fast..

It's also skewing all the other pairs.. I was reading the Chinese are getting pissed.. well duh.. how does that feel?
  • #784,755
  • Apr 8, 2013 2:05pm Apr 8, 2013 2:05pm
Pay attention to U/J @100.00 see the reaction at that level. If goes thru without resistance, stay out of short.
  • #784,756
  • Apr 8, 2013 2:06pm Apr 8, 2013 2:06pm
Got 300 pips of the UJ move so far. Closed out all tooooo soon. Tried to short this morning......
Wont attempt that again until price nears 100 and above. 99.70/80 area is the 50% fib of the last downleg.
Should be pretty good resistance just above 101.
Attached Image (click to enlarge)
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  • #784,757
  • Apr 8, 2013 2:17pm Apr 8, 2013 2:17pm
Quoting SugarPink
Who did any trades here today? I did 0. Tell your trades today.


no trades today, just holding shorts
Money never sleeps...
  • #784,758
  • Apr 8, 2013 2:19pm Apr 8, 2013 2:19pm
Quoting attila
I agree, it's very finicky, but it can offer some guidance.. I mean if it lines up with other things.. But doing those counts(and trade it alone).. I don't know..
Spot on. It has to line up and be confirmed by other factors. agree 100%. You can look at almost any trending pricecharts, you will find the EW patterns in most cases, if you look for it. I mostly disregarded this for a long time, but it's quite fascinating to see it on almost every pricecharts.
  • #784,759
  • Apr 8, 2013 2:23pm Apr 8, 2013 2:23pm
Quoting enterfx
Spot on. It has to line up and be confirmed by other factors. agree 100%. You can look at almost any trending pricecharts, you will find the EW patterns in most cases, if you look for it. I mostly disregarded this for a long time, but it's quite fascinating to see it on almost every pricecharts.

right. that's how it should be used imo if one wants to incorporate it into their trading.. It can be useful...Looking at m15 now.. its this a 3rd wave as part of the h1 2nd wave (which I turn should be a wave C of an ABC wave 4 correction)? maybe.. or just an abc correction w 2 on m15.. I guess that low will decide what in the world it is..

Looking at other factors, I think the low will give.. need another 35 min see how the h4 will close...
  • #784,760
  • Apr 8, 2013 2:31pm Apr 8, 2013 2:31pm
Quoting attila
I really have no idea what are they trying to accomplish (inflation and all that..) but I think they're playing a dangerous game by doing it so fast.. It's also skewing all the other pairs.. I was reading the Chinese are getting pissed.. well duh.. how does that feel?
They are planning to essentially print themselves to happiness with $1.4trillion...something that I simply can't see working. 263% debt to GDP ratio is beyond awful, it's a miracle they lasted so long, and imo the sheer amount they're willing to print shows a great deal of desperation...similar to when the BOE raised rates during Black Wednesday, just in reverse.

Also, it "might" even work if they'd be the only nation devaluing their currency...but they're clearly not. They can devalue it all they want, if the other countries are doing the same the net effect is never large enough to solve the problem they're trying to solve.

Not saying the house of cards will fall right now...but imo it's only a matter of time. Probably sooner than later if China intensifies the economic war.

Also not helpful to have an ageing population like Japan...their seniors basically risk losing half their savings.
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