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USD/JPY Discussion

  • #39,241
  • Nov 12, 2013 8:55am Nov 12, 2013 8:55am
Quoting kweiss10
{quote} sure about that?
min target 98.79 WPP
  • #39,242
  • Nov 12, 2013 8:56am Nov 12, 2013 8:56am
Hit for breakeven on my add from last night. Looking a bit dangerous right now, but we will see where daily candle closes.

Edit: Nice 5 min candle to close the hour at least.

Also took my loss on SPY at the 9:30 open when I saw gap down. Not convinced we will go down significantly, just following my rules and respecting market.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #39,243
  • Nov 12, 2013 9:21am Nov 12, 2013 9:21am
Bearish gartley & butterfly...it finally seems it's going down now

The triangle is still there
  • #39,244
  • Nov 12, 2013 9:25am Nov 12, 2013 9:25am
Quoting Forex Looser
Bearish gartley & butterfly...it finally seems it's going down now The triangle is still there
finally? you shorting?
  • #39,245
  • Nov 12, 2013 9:28am Nov 12, 2013 9:28am
His egg charts are always wrong guys,Im watching this forum for a long time...
  • #39,246
  • Nov 12, 2013 9:37am Nov 12, 2013 9:37am
Quoting kweiss10
{quote} finally? you shorting?
Yes i'm bullish on JPY against EUR, USD & CAD.
Though i won't be anymore vs USD if 100.60 get crushed
  • #39,247
  • Nov 12, 2013 9:50am Nov 12, 2013 9:50am
Im extremely bullish this pair. I don't see any real resistance at this point until 101.30ish. If it pulls back I'll be adding to my position at that point..
Attached Image (click to enlarge)
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"A true speculator tries the market small." - Jesse Livermore
  • #39,248
  • Nov 12, 2013 10:12am Nov 12, 2013 10:12am
Ok guys,
I close my full long and waiting a correction for dollar index. Big or small correction. Here is dollar index egg.
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  • #39,249
  • Nov 12, 2013 10:13am Nov 12, 2013 10:13am
Still holding theses shorts.

I just don't see a huge thrust up out of this consolidation. The break of the upper trend line (triangle) seems like a false breakout. Still not a bull until it passes 100.60
  • #39,250
  • Nov 12, 2013 10:23am Nov 12, 2013 10:23am
Quoting iwavetrade
Still holding theses shorts. I just don't see a huge thrust up out of this consolidation. The break of the upper trend line (triangle) seems like a false breakout. Still not a bull until it passes 100.60
If you compare this to the past 2 weeks, this is pretty bullish. From 97 lows up to 99 highs.
  • #39,251
  • Nov 12, 2013 10:50am Nov 12, 2013 10:50am
Quoting Forex Looser
Bearish gartley & butterfly...it finally seems it's going down now The triangle is still there

it's stopped bullish movement and is ranging between 99.6 and 99.5 i wonder if i should close out my long. It's been too long.
  • #39,252
  • Nov 12, 2013 10:51am Nov 12, 2013 10:51am
Quoting iwavetrade
Still holding theses shorts. I just don't see a huge thrust up out of this consolidation. The break of the upper trend line (triangle) seems like a false breakout. Still not a bull until it passes 100.60

Lord the road to touching 100 is a long one indeed. It looks like 100 is a very strong resistance and mental thing cos it's a big big round number. I really wonder how long it will actually touch 100.
  • #39,253
  • Nov 12, 2013 10:57am Nov 12, 2013 10:57am
I think ill short at 100
  • #39,254
  • Nov 12, 2013 11:43am Nov 12, 2013 11:43am
Quoting forex_fairy
{quote} it's stopped bullish movement and is ranging between 99.6 and 99.5 i wonder if i should close out my long. It's been too long.
Well i'm a bear on this pair so i may have a bias...

To go further north, i think it needs some "catalyst" and tonight should be pretty calm...there are bearish figures too.
  • #39,255
  • Nov 12, 2013 12:02pm Nov 12, 2013 12:02pm
4hr chart looks a bit bearish, but buyers stepped in again last 5mins which is an ok sign. Next 4hr candle is very important for closing the daily candle. Either daily candle is going to have long upper wick or it will close closer to its highs than where it is trading right now.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #39,256
  • Nov 12, 2013 12:31pm Nov 12, 2013 12:31pm
Quoting zusch
4hr chart looks a bit bearish, but buyers stepped in again last 5mins which is an ok sign. Next 4hr candle is very important for closing the daily candle. Either daily candle is going to have long upper wick or it will close closer to its highs than where it is trading right now.


in this case i think this is important for those still inside the trade and in the green shoudl they close it and take whatever tp in case it goes down or wait and see if it goes higher. It's insane cos not everyone can watch this cos it's like almost going to be 5am for some of us here.
  • #39,257
  • Nov 12, 2013 12:36pm Nov 12, 2013 12:36pm
It seems that bears are really coming in slowly and slowly. I noticed that every upward movement immediately goes downwards. Like everytime you see it go up you look away to do something come back and it shoots down fast less than 5 mins.
  • #39,258
  • Nov 12, 2013 1:05pm Nov 12, 2013 1:05pm
I think we have one more short term new high coming.

Looks like the rally from 97.6 has been ABCXA with B in progress and C wave up coming in a double corrective move.

I'll be looking to put in my 2nd level of shorts against 100.60. If it doesn't reach around that area then I'll just hold tight where I am and watch how price falls.

This rally just hasn't shown enough huge steam up to end this consolidating period IMHO
  • #39,259
  • Nov 12, 2013 1:14pm Nov 12, 2013 1:14pm
Quoting iwavetrade
I think we have one more short term new high coming. Looks like the rally from 97.6 has been ABCXA with B in progress and C wave up coming in a double corrective move. I'll be looking to put in my 2nd level of shorts against 100.60. If it doesn't reach around that area then I'll just hold tight where I am and watch how price falls. This rally just hasn't shown enough huge steam up to end this consolidating period IMHO
If Bernie hints tomorrow of taper in December, we will get that steam up. Or else it will most probally be reversal Thursday.
  • #39,260
  • Nov 12, 2013 2:07pm Nov 12, 2013 2:07pm
Interested to see what this pair does as it hits parity. I believe there are a lot of sell orders sitting at 1.00. I think fundamentally we should see 1.03ish, but might take some more time to get there.
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