Nice bearish pin bar on H1
- #5,623
- Aug 22, 2013 12:08pm Aug 22, 2013 12:08pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote} Good entry
Those who say it cannot be done should not interrupt those who are doing it
- #5,625
- Aug 22, 2013 12:16pm Aug 22, 2013 12:16pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Quick scalpings...holding my another shorts {image}
Those who say it cannot be done should not interrupt those who are doing it
- #5,626
- Aug 22, 2013 12:28pm Aug 22, 2013 12:28pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #5,628
- Aug 22, 2013 12:40pm Aug 22, 2013 12:40pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote} Hi ForexCube how's your outlook on EJ? I'm still holding shorts from 131.55 and .65 shall i start to hedge or wait as it retrace? We seem to have double top ATM so it should retrace? Much appreciated for help. {image}
"When it's cheap, buy it. When it's expensive, sell it"
Now ask yourself (and use multiple time frames to answer the question).. "Self, Is the E/J cheap or expensive?"
ADD: Here's a hint... The monthly chart.
Those who say it cannot be done should not interrupt those who are doing it
- #5,629
- Aug 22, 2013 12:44pm Aug 22, 2013 12:44pm
- Joined Dec 2012 | Status: Trader | 8,124 Posts
The world you desire can be won. It exists.. it is real.. it is possible..
- #5,630
- Aug 22, 2013 12:49pm Aug 22, 2013 12:49pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote} I am watching UJ 99.052 and EJ 132.16 for reaction.
Those who say it cannot be done should not interrupt those who are doing it
- #5,631
- Aug 22, 2013 12:49pm Aug 22, 2013 12:49pm
Hi Piptrapper
Your chart scares me out, but H4 doesnt look that bad. Seems like we are close to top, but i'm not sure if i should hold it or start to covering it
i felt too confident and again im under the water.
Your chart scares me out, but H4 doesnt look that bad. Seems like we are close to top, but i'm not sure if i should hold it or start to covering it
i felt too confident and again im under the water.
- #5,632
- Aug 22, 2013 12:55pm Aug 22, 2013 12:55pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Hi Piptrapper Your chart scares me out, but H4 doesnt look that bad. Seems like we are close to top, but i'm not sure if i should hold it or start to covering it
So, look at the numbers I and Mr. Scott just posted and ask yourself if you can handle the risk of the price jumping above those levels by 20 or so pips. If not, then you are over leveraged and should reduce your positions now.
Hedging with a buy is also an option, but because there is a higher probability that price will come down, you may as well close some sells instead so that you don't have to take a big loss on the buy later.
Those who say it cannot be done should not interrupt those who are doing it
- #5,633
- Aug 22, 2013 12:56pm Aug 22, 2013 12:56pm
- Joined Dec 2012 | Status: Trader | 8,124 Posts
{quote} Yep that sounds about right. I have the 132.15/20 zone. I can't go to the pip
There are some bigger patterns at play here but they are tba still based on pa.
The world you desire can be won. It exists.. it is real.. it is possible..
- #5,634
- Aug 22, 2013 1:02pm Aug 22, 2013 1:02pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote} There are some bigger patterns at play here but they are tba still based on pa. {image}
Those who say it cannot be done should not interrupt those who are doing it
- #5,635
- Aug 22, 2013 1:02pm Aug 22, 2013 1:02pm
{quote} In this business it is very important to choose your trade size according to the chart you are trading. That way you can give your trade lots of breathing room without losing half your account trying to pick a top or bottom. As long as you use proper money management, then you should be able to place your trade in an area that offer excellent risk/reward ratio and if the trade goes against you, you only lose a small amount... maybe 1% So, look at the numbers I and Mr. Scott just posted and ask yourself if you can handle the risk of the price...
thank you for an advice , i can hold to 132.15 it's not big position for my account, but i hope it really goes down from there
On the other hand, EURO is really going to be much stronger from YEN in close future? Japan still wants / willing to weak Yen even more?
- #5,636
- Aug 22, 2013 1:04pm Aug 22, 2013 1:04pm
- Joined Dec 2012 | Status: Trader | 8,124 Posts
The world you desire can be won. It exists.. it is real.. it is possible..
- #5,638
- Aug 22, 2013 1:11pm Aug 22, 2013 1:11pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote} thank you for an advice , i can hold to 132.15 it's not big position for my account, but i hope it really goes down from there
If the Nikkei goes up, the Yen loses
Nikkei goes down, Yen gains
So, since all the equity indexes in the world usually go up and down together (most of the time), if the Fed tapers and the stock markets go down, then the Yen will gain. In other words E/J will fall. U/J will fall as well but at a much slower rate because the USD will also gain. It might ebven be that the USD/JPY goes up while the EUR/JPY goes down.
However, if the Fed does not taper, or worse yet, they increase the QE monthly amounts to 90 billion or higher, then that EUR/JPY is going to fly so high that we will all have nose bleeds
Currently, it looks like the Fed will taper in September, so the chances of more EUR/JPY gains are fairly limited.
Those who say it cannot be done should not interrupt those who are doing it
- #5,639
- Aug 22, 2013 1:15pm Aug 22, 2013 1:15pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #5,640
- Aug 22, 2013 1:17pm Aug 22, 2013 1:17pm
{quote} The Yen is inversely ( ....)
just trying to go out b/e from that. It would be perfect.