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USD/JPY Discussion

  • #38,781
  • Nov 4, 2013 8:07pm Nov 4, 2013 8:07pm
Quoting Olu
{quote} hope you meant 97.50
Fatpanda is just a troll. People like him should be banned from the forums.
"A true speculator tries the market small." - Jesse Livermore
  • #38,782
  • Nov 4, 2013 8:10pm Nov 4, 2013 8:10pm
Quoting Tom_D_Trader
Well am glad those lines are working, but would prefere lesser retracement, this wont be light sleep edit: Screw sleep, got enough smoke. Buying the line edit: risk 2,25% SL 98,14. Think it is a good knifecatch? {image}
I agree with this trade in a way as you are buying support (left of the chart). I was long from 9830 looking for 9900 which I closed @9876. Now I am long again @98.35 with a tight stop. We'll see how this plays out.

Off to bed

Olu
If you think you can or cannot do it you are correct
  • #38,783
  • Nov 4, 2013 8:18pm Nov 4, 2013 8:18pm
Well currently a bit pain in the a$$, have deleveraged a bit on linebreak down and reentering here, moving SL down. Momentum is too strong.

Edit: 5% waiting down there
Attached Image (click to enlarge)
Click to Enlarge Name: painintheass.JPG Size: 133 KB
"I know one thing, that I know nothing." Sokrates
  • #38,784
  • Nov 4, 2013 8:32pm Nov 4, 2013 8:32pm
Quoting Jgcole83
{quote} Fatpanda is just a troll. People like him should be banned from the forums.

  • #38,785
  • Nov 4, 2013 8:41pm Nov 4, 2013 8:41pm
technically speaking, if it finds support around this area 98.2x to 98.3x, our position isn't bad as it is merely an adjustment if you look at the hourly chart.

fundamentally speaking, this abe news is not very good but whether it works or not they are still printing money. and we shouldn't go too low consider US tapering news is back on. the US data this week will be important measures.
  • #38,786
  • Nov 4, 2013 8:42pm Nov 4, 2013 8:42pm
Quoting Tom_D_Trader
Well currently a bit pain in the a$$, have deleveraged a bit on linebreak down and reentering here, moving SL down. Momentum is too strong. Edit: 5% waiting down there {image}
I like how you've got your stops set up right below the 50% retracement of last weeks range. 97.98 is the 61.8% of last weeks range, so maybe just another 5 pips would be a bit safer.

I'm stuck long right now too, no fun at all, but have to keep it all in perspective. We haven't even hit 50% retrace of last week so I still believe we will get some kind of bounce. I'd be buying now if I didn't already have a position under water (I never, ever, ever, ever average down).
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #38,787
  • Nov 4, 2013 8:54pm Nov 4, 2013 8:54pm
Quoting zusch
I like how you've got your stops set up right below the 50% retracement of last weeks range. 97.98 is the 61.8% of last weeks range, so maybe just another 5 pips would be a bit safer.
I may move it a bit. Anyway, this is reason for SL. I have a S at 98,2 and believe it will not break on daily. But I can imagine intraday spikey like to 98,08, so thats why I moved it.

edit: Imo not only that last spike, but whole form of bottom is suggesting heavy buying pressure below 98. Hope it works
Attached Image(s) (click to enlarge)
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"I know one thing, that I know nothing." Sokrates
  • #38,788
  • Nov 4, 2013 9:09pm Nov 4, 2013 9:09pm
Quoting fatpanda
{quote} so far so good
Do what's right for you
  • #38,789
  • Nov 4, 2013 9:21pm Nov 4, 2013 9:21pm
Quoting Tom_D_Trader
{quote} I may move it a bit. Anyway, this is reason for SL. I have a S at 98,2 and believe it will not break on daily. But I can imagine intraday spikey like to 98,08, so thats why I moved it. edit: Imo not only that last spike, but whole form of bottom is suggesting heavy buying pressure below 98. Hope it works {image} {image}
Yeah pair has been fishing for stops. Buying at Sunday open was prob a bit aggressive, but I'd rather take on some more risk and be exposed instead of watching it go in my intended direction without me. Lets cross our fingers!

Maybe we should just be buying /ES instead lol.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #38,790
  • Nov 4, 2013 9:28pm Nov 4, 2013 9:28pm
decent bounce, back over 9840 please , then off to the gym
Do what's right for you
  • #38,791
  • Nov 4, 2013 9:32pm Nov 4, 2013 9:32pm
Quoting zusch
Lets cross our fingers!
Hehe, fingers crossed. But that bastard really is great in that stophunting. Can easily retrace up to 80% no problemo, we are still in chop zone. Really looking forward for break north, entering gets annoying
"I know one thing, that I know nothing." Sokrates
  • #38,792
  • Nov 4, 2013 9:36pm Nov 4, 2013 9:36pm
y, y am spammer, but this is actually pattern

edit: fok, am overleveraged 45:1. Am I overdoing it? Well UJ only (haha) 40, rest is EU.
Attached Image (click to enlarge)
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"I know one thing, that I know nothing." Sokrates
  • #38,793
  • Nov 4, 2013 9:40pm Nov 4, 2013 9:40pm
AU down
so UJ will down for A&J are competition currency in Asia
  • #38,794
  • Nov 4, 2013 9:42pm Nov 4, 2013 9:42pm
Quoting momochi
decent bounce, back over 9840 please , then off to the gym
back later!
Do what's right for you
  • #38,795
  • Nov 4, 2013 9:48pm Nov 4, 2013 9:48pm
Quoting fatpanda
AU down so UJ will down for A&J are competition currency in Asia
What about Yuan? Been reading lots of news about Yuan currency swaps w/ Europe and such. China trying to take over as global reserve currency from dollar from what I understand.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #38,796
  • Edited 10:05pm Nov 4, 2013 9:53pm | Edited 10:05pm
Quoting zusch
Been reading lots of news about Yuan currency swaps w/ Europe and such.
Imo this was primary reason for start of correction in E/U. Secondary are growing market expectations of ratecut or LTRO. And, noone cant take over as reserve currency right now, as would get bombed.

edit: I mean primary from Euro side. From USD side, it was Oil
edit 4 jgcole: indeed they do. Pretty much the same SL hunt after retest of major R.
"I know one thing, that I know nothing." Sokrates
  • #38,797
  • Nov 4, 2013 9:56pm Nov 4, 2013 9:56pm
These two moves look very similar.
Attached Image (click to enlarge)
Click to Enlarge Name: Support.PNG Size: 202 KB
"A true speculator tries the market small." - Jesse Livermore
  • #38,798
  • Nov 4, 2013 10:13pm Nov 4, 2013 10:13pm
Quoting Jgcole83
These two moves look very similar. {image}
Indeed !
Sincerely Yours Cheers!
  • #38,799
  • Nov 4, 2013 10:28pm Nov 4, 2013 10:28pm
Quoting Jgcole83
These two moves look very similar. {image}

wow...your chart is like "where's waldo"
  • #38,800
  • Nov 4, 2013 10:43pm Nov 4, 2013 10:43pm
Quoting Doboy408
{quote} wow...your chart is like \"where's waldo\"
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