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USD/JPY Discussion

  • #37,001
  • Sep 16, 2013 2:25am Sep 16, 2013 2:25am
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  • #37,002
  • Sep 16, 2013 2:26am Sep 16, 2013 2:26am
Quoting OmCr32
{quote} Yea I feel the same. Ive bought on the break of 100 only to get burned last week, and I dont feel like making that mistake again. However now I feel downside is limited, the lower it goes the more the bulls are licking their chops. WHAT IM AFRAID OF, is the fomc not tapering
If FOMC does not taper then stocks will most likely surge. A surge on the Nikkei, particularly in futures, will drive UJ higher.
IMHO, of course.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #37,003
  • Sep 16, 2013 2:30am Sep 16, 2013 2:30am
Then this pair tumbles down down down.
  • #37,004
  • Sep 16, 2013 2:45am Sep 16, 2013 2:45am
Long dollar here. After 3-4 days of movement in one direction we have been seeing a correction which is good for short term trades.
  • #37,005
  • Sep 16, 2013 5:54am Sep 16, 2013 5:54am
Good day,

I'm looking to short for a few here - we have this opening on my chart above current price - so have to pace it. Retail buyers entering so time to short.

Regards
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  • #37,006
  • Sep 16, 2013 8:02am Sep 16, 2013 8:02am
UJ
Target Practice

H4
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note: i do not subscribe to this thread, if you would like to discuss, please reply to my post, so that it shows up on my dashboard page
90% of people, are wrong about 90% of everything, 90% of the time...
  • #37,007
  • Sep 16, 2013 1:59pm Sep 16, 2013 1:59pm
Quoting theDHT
.... note: i do not subscribe to this thread, if you would like to discuss, please reply to my post, so that it shows up on my dashboard page
Haarrr, I wondered where you had gone!
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #37,008
  • Sep 16, 2013 2:04pm Sep 16, 2013 2:04pm
Quoting Exodus
{quote} Haarrr, I wondered where you had gone!

been here mostly, just have not been posting on this thread cuz I hate arguments!

how are you dude?
90% of people, are wrong about 90% of everything, 90% of the time...
  • #37,009
  • Sep 16, 2013 3:12pm Sep 16, 2013 3:12pm
Quoting TauTrader
Good day, I'm looking to short for a few here - we have this opening on my chart above current price - so have to pace it. Retail buyers entering so time to short. Regards {image}
Careful mate, just remember that you too are a part of the retail crowd. Invariably, prices will be pushed/pulled to levels that affect all participants - just be sure your on the right side at whichever point in time.
  • #37,010
  • Sep 16, 2013 4:08pm Sep 16, 2013 4:08pm
Quoting Warwick
{quote} Careful mate, just remember that you too are a part of the retail crowd. Invariably, prices will be pushed/pulled to levels that affect all participants - just be sure your on the right side at whichever point in time.
Agree with both of you. Whilst fading retail is an attractive strategy,
1) you can't follow it blindly,
2) you can't even be sure what "retail" is doing
3) the premise (that retail is always dumb money) is probably wrong. Sometimes retail gets it right. Anyway Livermore said the public is early in and early out. I.e. they get the move right but they don't/can't stay on for the ride.

Personally I'm getting long again down here; in a big bull move like this, supported by the fundamentals (at least as far as I can tell) and the DX maybe 1% from what should be rock-solid support, I don't want to be trying to be too clever for my own good, trying to grab a few pennies on the short side when longer term, and indeed even shorter term, this should clearly be headed back above 100. For me it's still buy-the-dips. I am though trying to exercise the discipline required to save a decent amount in my pot for some crazy giveaway bargains should da boyz decide to try to crush the $ longs at the FOMC. Eg USDJPY down to 97, EURUSD up to 1.35, that sort of thing. There should be very good money to be made if you have the spare cash and they decide to try to blow the $ longs out of the water.
I have no clue what I'm talking about.
  • #37,011
  • Sep 16, 2013 5:07pm Sep 16, 2013 5:07pm
Quoting theDHT
{quote} been here mostly, just have not been posting on this thread cuz I hate arguments! how are you dude?
I am fine thanks. Trading a beer-money account and mostly making a bit of money; except for this month.
My H&S on the weekly chart did not materialize, appears to have faded into a pennant.

Yep, lurking is easier on the personal Karma. Nice to see you here. Your trading going Ok?
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #37,012
  • Sep 16, 2013 11:06pm Sep 16, 2013 11:06pm
Ryt nw No tread. Am xpecting a reasonable break out
  • #37,013
  • Sep 17, 2013 1:56am Sep 17, 2013 1:56am
Quoting Exodus
{quote} I am fine thanks. Trading a beer-money account and mostly making a bit of money; except for this month. My H&S on the weekly chart did not materialize, appears to have faded into a pennant. Yep, lurking is easier on the personal Karma. Nice to see you here. Your trading going Ok?

its been a good year so far...

made a penny
lost half a penny!

I've been posting over at "The Club!" mostly... because I don't trade UJ exclusively... most of the guys on that thread are pretty well seasoned, so its a growth environment (of sorts) for anyone who is serious about doing this

I trade for a living, been doing it my entire professional and private life... so cant afford to have friction with useless people, it screws with my Chi, most of the folks there also trade for a living; there's a mutual respect for not talking trash, even if you don't agree with the opposing view... this is important to me... (most trash talk comes from rooks)

cheers dude
90% of people, are wrong about 90% of everything, 90% of the time...
  • #37,014
  • Sep 17, 2013 9:19am Sep 17, 2013 9:19am
Ive gotten hit by this pair before when i considered short. Long term view is long on this pair which is the smarter team to be on haha..Im in the green with a long entry from 99.17. Hoping for a test to 100 and potential break. Goodluck to you all
  • #37,015
  • Sep 17, 2013 10:27pm Sep 17, 2013 10:27pm
so what now ? UJ going up or down ?
  • #37,016
  • Sep 17, 2013 11:19pm Sep 17, 2013 11:19pm
Quoting alam88009
so what now ? UJ going up or down ?
I would not touch it now. Too risky this week. You have Japan and US options expiring this Friday and quite a few speeches coming out. Wait till next Monday or Tuesday to be safe unless you are very very long USD.
  • #37,017
  • Sep 17, 2013 11:28pm Sep 17, 2013 11:28pm
Its been good for scalping in this narrow range.
"A true speculator tries the market small." - Jesse Livermore
  • #37,018
  • Sep 18, 2013 12:14am Sep 18, 2013 12:14am
Gidday Yen Masters

Man if its going to take dump

then please hurry up.

Over loaded with longs

Way to greedy as always

Never know we might get some action soon.
  • #37,019
  • Sep 18, 2013 12:45am Sep 18, 2013 12:45am
Hi elite,

got stopped out of my remaining small long sunday night ('real account') and haven't reloaded yet. What can't go up, must come down... Well, I don't know obviously. But I do agree that we will see some action, FOMC today will provide it.

If you don't mind my asking, do you trade with a fixed stoploss for your longs? I tend to be overly cautious with getting into a position because I normally don't.
Fail better.
  • #37,020
  • Sep 18, 2013 1:03am Sep 18, 2013 1:03am
Will be interesting if taper is postponed till next round........another possible scenario??
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