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USD/JPY Discussion

  • #39,001
  • Nov 7, 2013 2:02pm Nov 7, 2013 2:02pm
Quoting spinozagr
Last call for the north… 98.150 will be the first target…
I'm with you to that long. Long for 30 pips eur/jpy also. And then short again both
  • #39,002
  • Nov 7, 2013 2:05pm Nov 7, 2013 2:05pm
Quoting nisack
this is a massacre. bulls would mostly be begging to close their positions now, if margin call didn't happen already.
Actually it is… however this is a part of the story

..the other part says (as far as i am concerned) that it is a great opportunity for taking a long position

Just my thoughts
The good thing with the future is that it is progressively approaching...
  • #39,003
  • Nov 7, 2013 2:11pm Nov 7, 2013 2:11pm
Quoting artocarpus
{quote} I'm with you to that long. Long for 30 pips eur/jpy also. And then short again both
Good luck artocarpus…

I have bought @97.856
SL 97.510
tp 98.600

The good thing with the future is that it is progressively approaching...
  • #39,004
  • Nov 7, 2013 2:11pm Nov 7, 2013 2:11pm
UJ still in the triangle and making HL right now. It's not a time for closing the longs. Not yet..
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #39,005
  • Nov 7, 2013 2:23pm Nov 7, 2013 2:23pm
Hello Yen Masters

I was to greedy again

should have closed some longs when I had the chance

still no pain no gain

Whats with the EUR/YEN

lets see if that crawls back up again:nerd:
  • #39,006
  • Nov 7, 2013 2:41pm Nov 7, 2013 2:41pm
I want to clap for all the traders on this thread who said this pair was going down. Here it is

FatPanda ans DavidSayi and others. Well done.

I want to clap for the bulls as well who were calling for above 99. Here it is as well

Now back to business. Surely there must be some retracement to this massive downmove...

Olu
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If you think you can or cannot do it you are correct
  • #39,007
  • Edited 3:07pm Nov 7, 2013 2:57pm | Edited 3:07pm
Hope you all survived that whipsaw. Was so fast I didnt even manage to jump out with few pips and got BE. Right now caught knife at 97,77, but dunno, hard resist @ 98,2 ahead, so... weekly candle not looking good so far, but till we break 97,6 on weekly, wouldnt be shouting bear, but chop.
edit: Btw, I really like that "Traders mind pattern", kinda suitable for UJ lately.
edit: and averaged to 97,855 10:1. What a tough day, could use some sleep.
"I know one thing, that I know nothing." Sokrates
  • #39,008
  • Nov 7, 2013 3:02pm Nov 7, 2013 3:02pm
Method of Least Squares : New Target @ 98.120 for being in the channel again.
The good thing with the future is that it is progressively approaching...
  • #39,009
  • Nov 7, 2013 3:10pm Nov 7, 2013 3:10pm
Quoting spinozagr
{quote} Good luck artocarpus… I have bought @97.856 SL 97.510 tp 98.600
Closed the position… not too greedy

so tired, have to go to sleep… keep up the good work mates

See ya.
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The good thing with the future is that it is progressively approaching...
  • #39,010
  • Edited 3:38pm Nov 7, 2013 3:21pm | Edited 3:38pm
Kinda like these nanopatterns, definitely not a signal, just fun, as always.
edit: meh, screw this, was a good knifecatch, but NY is closing and I had very very rough day, so am closing it and leaving. I have iron nerves but almost had that facking tatoo and tradestation... Maybe on Tokyo .
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"I know one thing, that I know nothing." Sokrates
  • #39,011
  • Nov 7, 2013 3:22pm Nov 7, 2013 3:22pm
most likly false breach. daily neutral candle but more nnegativ. if tomorrow makes 1 pips below low of today daily most likly test of 200 ema and lower
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  • #39,012
  • Nov 7, 2013 3:27pm Nov 7, 2013 3:27pm
We will most likely climb to about 98.30-98.40 and then head back down again under 98
  • #39,013
  • Nov 7, 2013 3:34pm Nov 7, 2013 3:34pm
Quoting stylinex
I am waiting patiently for an opportunity which may arise this Thursday or Friday for a reversal.
We almost always get a nice reversal on Thursday or Friday just like clock work
  • #39,014
  • Nov 7, 2013 3:47pm Nov 7, 2013 3:47pm
Quoting fatpanda
10 pips before my TP at 79.50
77.50 &79.50, you have to get your numbers straight. I believe you mean 97.50
  • #39,015
  • Nov 7, 2013 3:49pm Nov 7, 2013 3:49pm
Quoting Doboy408
Wow crazy moves. Note to self...take profit instead of just moving stop to breakeven and leaving it there. Anyways. I have no clue about this pair at this point...rather go over to eur.usf
Nah you did the right holding until breakeven believe me. You can never make big money in the market if you take every little profit you get. I'm sure there are some successful scalpers in here, but it is very difficult and high stress. Whenever I see someone post a TP 10 pips away from their entry I just shake my head (considering the spread would cost them ~15% of a 10 pip winner).

What if the breakout was real and we hit 100, then 110, 120? You would be kicking yourself for taking the smallest of profits. Instead you let your profit ride and got out with no loss.

Like I said in my other post, props to the bears...even though they showed up early. I could go short now and probably have the same entry price as most of them. Seeing how we are closing I believe it is best to stay away from this pair. If you want to short something, I'd go for S&P. Closed at the lows today (unlike U/J) and easily the clearest sell signal we've seen in the index all year.

U.S. unemployment data tomorrow. Have a nice night everyone.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #39,016
  • Nov 7, 2013 4:04pm Nov 7, 2013 4:04pm
Quoting zusch
{quote} Like I said in my other post, props to the bears...even though they showed up early. I could go short now and probably have the same entry price as most of them.
I think that's what they call a backhanded compliment grudgingly delivered through teeth clenched so hard that even a crowbar couldn't separate them
I have no clue what I'm talking about.
  • #39,017
  • Nov 7, 2013 4:07pm Nov 7, 2013 4:07pm
Can anyone tell me what happens with USD/jpy in case the unemployment rate is higher than expected?
i am trapped in a long position on USD/jpy and I have trouble finding the scenarious.

tks
  • #39,018
  • Nov 7, 2013 4:14pm Nov 7, 2013 4:14pm
Quoting VinnyIsFree
Can anyone tell me what happens with USD/jpy in case the unemployment rate is higher than expected? i am trapped in a long position on USD/jpy and I have trouble finding the scenarious. tks
Bear in mind

a) nobody knows what the unemployment rate is going to be
b) nobody knows what the market expects the unemployment rate to be
c) nobody knows what importance the market attaches to the unemployment rate
d) nobody knows what how the market will react to the unemployment rate

Seriously, you need to use technicals to guide you in and out of trades. For god sake don't use fundamentals for precise entry and exits.
Price will move somewhere inside a zone; you need to figure out where your buying and selling is inside that zone. And you really need to do that ahead of the release. Best of luck.
I have no clue what I'm talking about.
  • #39,019
  • Nov 7, 2013 4:15pm Nov 7, 2013 4:15pm
Quoting VinnyIsFree
Can anyone tell me what happens with USD/jpy in case the unemployment rate is higher than expected? i am trapped in a long position on USD/jpy and I have trouble finding the scenarious. tks
usd will weaken. usdjpy will tank imho

Olu
If you think you can or cannot do it you are correct
  • #39,020
  • Nov 7, 2013 4:24pm Nov 7, 2013 4:24pm
Quoting zusch
{quote} Nah you did the right holding until breakeven believe me. You can never make big money in the market if you take every little profit you get. I'm sure there are some successful scalpers in here, but it is very difficult and high stress. Whenever I see someone post a TP 10 pips away from their entry I just shake my head (considering the spread would cost them ~15% of a 10 pip winner). What if the breakout was real and we hit 100, then 110, 120? You would be kicking yourself for taking the smallest of profits. Instead you let your profit ride...

I like and agree with this. Got to let those profits run otherwise what the point? win little trades and wipe them with a big loss...
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