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USD/JPY Discussion

  • #39,281
  • Nov 13, 2013 6:01am Nov 13, 2013 6:01am
Quoting forex_fairy
It's rallying right now. Doesn't go upwards anymore. 100 doesn't look possible this weak. Should buy or sell? Someone give some advice.
The longer we stay above 99.40 (last week's highs) the better for bulls. Both bulls and bears look extremely tired right now so its tough to say exactly, but to me the trend remains up. Still have my original buy and my add with a 99.35 stop for both of them. I'm expecting decent move up here during next 2 hours.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #39,282
  • Nov 13, 2013 6:05am Nov 13, 2013 6:05am
Quoting forex_fairy
It's rallying right now. Doesn't go upwards anymore. 100 doesn't look possible this weak. Should buy or sell? Someone give some advice.

if your're not sure what to do, better stay out and wait for some signal. if it's goes up you'll have enough time to join the bulls. no one can give you advice about getting long/short, the only ones who know for 99% (not even 100) accuracy what will happen here are Bernanke and Kuroda, being friends with them is very powerful indicator but I don't have it . rumors says tightening in USA and opposite in Japan, together with bullish picture at weekly&monthly should give you direction ( it's going up if someone asks me).
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #39,283
  • Nov 13, 2013 7:33am Nov 13, 2013 7:33am
price getting more attractive but think test of 99 might be on the cards, holding off for now
Do what's right for you
  • #39,284
  • Nov 13, 2013 7:41am Nov 13, 2013 7:41am
testing the bottom of the descending triangle. good opportunity to short if it holds
  • #39,285
  • Nov 13, 2013 7:43am Nov 13, 2013 7:43am
Quoting pipxster
To me H4 seems a bit a flag like consolidation atm, thinking about to get back in with half size
Started to buy again however much smaller size then I have closed yesterday @9975. As I see the flag is still there however it does not look so nice than couple of hours ago - H4 close will tell. Besides expected a bigger/faster pullback @ the triple resistance (daily TL, fibo and 100 psyhological barrier) so for me its still quite bullish. depending on PA Ill add more if we go further down. Maybe we are just waiting for tomorrows GDP data for further action.
  • #39,286
  • Nov 13, 2013 8:07am Nov 13, 2013 8:07am
Quoting bikov
{quote} if your're not sure what to do, better stay out and wait for some signal. if it's goes up you'll have enough time to join the bulls. no one can give you advice about getting long/short, the only ones who know for 99% (not even 100) accuracy what will happen here are Bernanke and Kuroda, being friends with them is very powerful indicator but I don't have it . rumors says tightening in USA and opposite in Japan, together with bullish picture at weekly&monthly should give you direction ( it's going up if someone asks me).
+1

Depends upon your timeframe, different charts show different things.

@ forex_fairy 1st rule of trading (or maybe second I don't know), do not ask somebody what you should do.
If you are out then stay out until you know what to do, if you are in give a lot of thought to when you might want to get out.
Cheers
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  • #39,287
  • Nov 13, 2013 8:16am Nov 13, 2013 8:16am
If it breaks the hourly pin bar I think it will test 100 IMHO.
No guts, no glory
  • #39,288
  • Nov 13, 2013 8:34am Nov 13, 2013 8:34am
Quoting forex_fairy
...Should buy or sell? Someone give some advice.

It is your money . You decide.
The Market pays you to be disciplined
  • #39,289
  • Nov 13, 2013 8:53am Nov 13, 2013 8:53am
I am long since 99.34 and it looks good so far.
No guts, no glory
  • #39,290
  • Nov 13, 2013 8:59am Nov 13, 2013 8:59am
A good sign if this hour closes above 99.50. Moved to break even.
No guts, no glory
  • #39,291
  • Nov 13, 2013 9:20am Nov 13, 2013 9:20am
My guess is some time before this Friday we see another major reversal/correction. Whether or not it bounces back I can not predict but my gut feeling tells me that today it gets pulled back up again before it comes crashing back down again some time between now and Friday.
  • #39,292
  • Nov 13, 2013 9:25am Nov 13, 2013 9:25am
Took partial profit at 99.54. Its a free ride now . God I love free rides. Hope it will take us to 100 .
No guts, no glory
  • #39,293
  • Nov 13, 2013 9:28am Nov 13, 2013 9:28am
Quoting abokwaik
Took partial profit at 99.54. Its a free ride now . God I love free rides. Hope it will take us to 100 .
scalper it still short term bullish. early for your profit
  • #39,294
  • Nov 13, 2013 9:53am Nov 13, 2013 9:53am
Quoting abokwaik
Took partial profit at 99.54. Its a free ride now . God I love free rides. Hope it will take us to 100 .
I just entered a small position on the bearish side. The 4 hour chart looks bearish. I reckon it could drop pretty hard and quickly from here.
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  • #39,295
  • Nov 13, 2013 10:02am Nov 13, 2013 10:02am
Quoting stylinex
My guess is some time before this Friday we see another major reversal/correction. Whether or not it bounces back I can not predict but my gut feeling tells me that today it gets pulled back up again before it comes crashing back down again some time between now and Friday.
This my thinking. I'm still waiting for a big green candle to end this little leg of the SPX; we haven't seen one yet and I would have given better than 50-50 odds that when it comes it will come with a big red candle on the dollar.
I've also been watching the 10 year note - we've seen now zero movement beyond the bottom of last Friday's big red candle. We're at the same price.
Why are notes not moving lower - and yields higher? Why is the dollar index not making more progress higher rather than going sideways?
All smells to me of an impending dollar sell-off.

But we all know you can do all the clever analysis in the world but price will go where it will go.
I have no clue what I'm talking about.
  • #39,296
  • Nov 13, 2013 10:34am Nov 13, 2013 10:34am
2nd half stopped at BE. let's see if it will make a lower low.
No guts, no glory
  • #39,297
  • Nov 13, 2013 10:44am Nov 13, 2013 10:44am
big dollar sell off going on, no idea why but riding AU at the moment
Do what's right for you
  • #39,298
  • Nov 13, 2013 10:45am Nov 13, 2013 10:45am
be careful making entries tonight
Do what's right for you
  • #39,299
  • Nov 13, 2013 11:16am Nov 13, 2013 11:16am
Quoting stylinex
{quote} I just entered a small position on the bearish side. The 4 hour chart looks bearish. I reckon it could drop pretty hard and quickly from here. {image}

  • #39,300
  • Nov 13, 2013 11:18am Nov 13, 2013 11:18am
Today Is nothing more than a little weakness in the usd. Fundamentals remain the same and I will be buying this pull back. Don't stay short to long or you may get creamed.
"A true speculator tries the market small." - Jesse Livermore
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