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USD/JPY Discussion

  • #36,441
  • Aug 28, 2013 9:01am Aug 28, 2013 9:01am
Quoting openyoureyes
{quote} you meant 97.80 I guess
Yes,my mistake (sorry)
  • #36,442
  • Aug 28, 2013 9:34am Aug 28, 2013 9:34am
Long again at 97.61. We'll see. No supply is seen but you never know when it comes around the corner...
  • #36,443
  • Aug 28, 2013 12:18pm Aug 28, 2013 12:18pm
Bought a lot at 97.30 and another when it broke the pp at 97.50, and Ill probably increase my leverage at 98 if it breaks and holds.
"A true speculator tries the market small." - Jesse Livermore
  • #36,444
  • Aug 28, 2013 12:36pm Aug 28, 2013 12:36pm
... in a few hours there are some news concerning the Retail Sales y/y in Japan.

these news will be the fuel for new highs or an "excusion" for a "good" retracement...
The good thing with the future is that it is progressively approaching...
  • #36,445
  • Aug 28, 2013 3:49pm Aug 28, 2013 3:49pm
Head and shoulders formation on the 4 hours chart suggesting further downside ..

Attached Image
  • #36,446
  • Aug 28, 2013 3:54pm Aug 28, 2013 3:54pm
Quoting Fiberflippa
Head and shoulders formation on the 4 hours chart suggesting further downside .. {image}
.... yes please!
  • #36,447
  • Aug 28, 2013 4:53pm Aug 28, 2013 4:53pm
I think you can throw that head and shoulders pattern in the garbage.
"A true speculator tries the market small." - Jesse Livermore
  • #36,448
  • Aug 28, 2013 5:12pm Aug 28, 2013 5:12pm
Lookn at 98, 99, and then possibly 100.58.
"A true speculator tries the market small." - Jesse Livermore
  • #36,449
  • Aug 28, 2013 5:15pm Aug 28, 2013 5:15pm
handicapped shoulder
  • #36,450
  • Aug 28, 2013 5:16pm Aug 28, 2013 5:16pm
Quoting spinozagr
... in a few hours there are some news concerning the Retail Sales y/y in Japan. these news will be the fuel for new highs or an "excusion" for a "good" retracement...
The train will continue to north... Enjoy the trip.
The good thing with the future is that it is progressively approaching...
  • #36,451
  • Aug 28, 2013 5:32pm Aug 28, 2013 5:32pm
Stochastic on 4hr looks to be heading back north. I don't know about that head and shoulder pattern.
“The chicken is only an egg’s way for making another egg.” R. Dawkins
  • #36,452
  • Aug 28, 2013 5:32pm Aug 28, 2013 5:32pm
~98.3 is more or less valid for H&S, thus nothing to be excited about yet (not saying it won't go up, just beeing cautious). Plus, it's end of the month, throwing data aside, there are still few big players that have their shorts open and I doubt they want to close the month with them being underwater by too much.
  • #36,453
  • Aug 28, 2013 5:49pm Aug 28, 2013 5:49pm
Quoting Xeet
~98.3 is more or less valid for H&S, thus nothing to be excited about yet (not saying it won't go up, just beeing cautious). Plus, it's end of the month, throwing data aside, there are still few big players that have their shorts open and I doubt they want to close the month with them being underwater by too much.
xeet
where do u see that information?
thanks in advance
The good thing with the future is that it is progressively approaching...
  • #36,454
  • Aug 28, 2013 6:08pm Aug 28, 2013 6:08pm
Quoting spinozagr
{quote} xeet where do u see that information? thanks in advance
Commerzbank had an open short with TP at 95, SL at 100.45. There was a similar position within Deutsche Bank (which is quite meaningful, as they are probably the biggest player). This being said, JP went long recently with initial TP at 105.8 or something like that (can't remember SL). Can't link You source though, numbers are in my head. However, I will PM You when i dig for the info in the morning (woke up for Japans data, 3 AM here )

PS. It's just that whenever somehting is uncertain, it's us that will lose money - not them. Spreadsheets at the end of the month must look decent. Thus i highly recommend to watch out tomorrow and on friday (usually it's friday alone, but as far as I know, alot of people in the US might take a day off on friday and the main action might happen on thursday). Given this, I might try to follow Big Boys on their sudden and unpredictable moves, though If i fail twice in a row, I will move to H4 trades.

BTW: http://www.bloomberg.com/news/2013-0...ing-clues.html
  • #36,455
  • Aug 28, 2013 6:13pm Aug 28, 2013 6:13pm
Quoting Xeet
~98.3 is more or less valid for H&S, thus nothing to be excited about yet (not saying it won't go up, just beeing cautious). Plus, it's end of the month, throwing data aside, there are still few big players that have their shorts open and I doubt they want to close the month with them being underwater by too much.
98.3 would void the pattern, it shouldn't close above ~ 98.12 where it provides a good shorting opportunity under that level ..
  • #36,456
  • Aug 28, 2013 6:33pm Aug 28, 2013 6:33pm
Quoting Fiberflippa
{quote} 98.3 would void the pattern, it shouldn't close above ~ 98.12 where it provides a good shorting opportunity under that level ..
Hmm, how did You get 98.12 exactly? I took a glance on a side chart before and said it would be ~98.3. By looking at it on the main screen, I see 98.250 (~, I assume that it's bit highier, but Fibo 61.8 should keep it lower), which would also be where 61.8 fibo goes. Also, this is more or less around EMA200.
Attached Image (click to enlarge)
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  • #36,457
  • Aug 28, 2013 6:58pm Aug 28, 2013 6:58pm
Quoting Xeet
{quote} Hmm, how did You get 98.12 exactly? I took a glance on a side chart before and said it would be ~98.3. By looking at it on the main screen, I see 98.250 (~, I assume that it's bit highier, but Fibo 61.8 should keep it lower), which would also be where 61.8 fibo goes. Also, this is more or less around EMA200. {image}
It's the peak of the left shoulder where you can see the horizontal line i posted, doesn't necessarily mean that it would retrace all the way up there "short term" but its important for that short play not to close above that level ..
  • #36,458
  • Aug 28, 2013 9:32pm Aug 28, 2013 9:32pm
Quoting Fiberflippa
{quote} It's the peak of the left shoulder where you can see the horizontal line i posted, doesn't necessarily mean that it would retrace all the way up there "short term" but its important for that short play not to close above that level ..
Maybe it is HS but look the reaction. Yesterday we had bad news for USD and no action, today we had good news for JPY (Morimoto: Japs economy is recovering...bla bla) we had a shakeout and nothing else. Right now the price is back where it was before the news.
From the background the strength is seen so far. I think today's news will be decesive where we will go. Yesterday on one of my posts i mentioned area between 97.50 - 97.80 could be a bi*ch. We need good momentum to go through.

Happy trading to you all.
  • #36,459
  • Aug 28, 2013 9:36pm Aug 28, 2013 9:36pm
god bless kurado, should go north
  • #36,460
  • Aug 28, 2013 10:25pm Aug 28, 2013 10:25pm
Quoting openyoureyes
god bless kurado, should go north
15min TF low volume down bars, low spread, maybe opportunity to buy it around 97.70...
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