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EUR/JPY

  • #341
  • Jan 2, 2014 2:09pm Jan 2, 2014 2:09pm
I was lucky as I had already taken half off and let the other half run only to wake up with it half of what i left it. closed it and decided no trade till next week. Its going to be unpredicatable for a few days
  • #342
  • Jan 2, 2014 2:17pm Jan 2, 2014 2:17pm
Quoting forexvegan
{quote} Great to see such an honest trader. Very rare for someone to admit he's had a wrong trade and take a loss. Most people let there pride get in the way and will stay stuck in the trade. Good call NS!!!
Thanks fxvegan - I do beleive there is a right time for hard stops, mental stops, and even price averaging. However, if you do not know which of these techniques is right for you, stick to the default of always having a hard stop. There is also an element of "time" that we must consider, but that is a different topic all together.
  • #343
  • Jan 2, 2014 2:25pm Jan 2, 2014 2:25pm
Quoting IveGotQuads
....closed it and decided no trade till next week. Its going to be unpredicatable for a few days
Good job. Taking a break from fx trading is very difficult as we all have a hard wired "need" to be in a trade constantly...but it is absolutely always a good idea. Sometimes you go away for a day or two and you find that PA is in a completely different place than what you had anticipated. Often, it is in a much better place and structures have much more clarity. Clear/obvious trades always have a lot of PA behind them. Never ever a good idea to take a trade following a huge vertical drop or huge vertical rise in PA. Wait for horizontal action to create the patterns/structures/highs/lows/etc...and then analyze those footprints that PA created for you.
  • #344
  • Jan 2, 2014 3:46pm Jan 2, 2014 3:46pm
Hello YEN Masters

Who pulled the chain

Well caught some retrace but have longs taking diving lessons

143 First long TP 146 EUR/YEN

US/JPY long 105.7 TP

Just have to suck it up for a few hours
  • #345
  • Jan 2, 2014 5:54pm Jan 2, 2014 5:54pm
Quoting eliteincome
... longs taking diving lessons.... Just have to suck it up for a few hours
the bull needs some heavy shocking to resuscitate him...dont know how long it'll take for him to wake up.

Attached Image
  • #346
  • Jan 2, 2014 8:36pm Jan 2, 2014 8:36pm
In case your wondering I got out and am with the bears for now.
Faith ends where worry begins, and worry ends where faith begins.
  • #347
  • Jan 2, 2014 9:21pm Jan 2, 2014 9:21pm
Back to where I started. Lets go!!!
Faith ends where worry begins, and worry ends where faith begins.
  • #348
  • Edited 10:06pm Jan 2, 2014 9:36pm | Edited 10:06pm
Quoting forexvegan
In case your wondering I got out and am with the bears for now.
we think alike

Attachment

Edit: Chart removed. I realize it helps no one to post entries after the fact.
  • #349
  • Jan 2, 2014 9:47pm Jan 2, 2014 9:47pm
Quoting NorthShore
{quote} Agreed, I dont think this correction is over either. We may get some upward pops or ranging over the next few hours, but the bear is still alive and well.
posted this 7 hours ago...and I say its a strong bear for sure. took us down a 100pip slide already in the past 3 hours.
  • #350
  • Jan 2, 2014 10:52pm Jan 2, 2014 10:52pm
a brake of 141,5 next week will confirm the downtrend, anyway 140-143 area looks ideal for both ways long scalping with small positions
  • #351
  • Jan 2, 2014 11:44pm Jan 2, 2014 11:44pm
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY DEMAND 1.jpg Size: 101 KB



Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY DEMAND 7.png Size: 143 KB
  • #352
  • Jan 3, 2014 3:52am Jan 3, 2014 3:52am
10% return so far this year waiting on eurjpy to spike up to add new shorts
Copy my trades for free ask me how )
  • #353
  • Jan 3, 2014 6:10am Jan 3, 2014 6:10am
Quoting londontg
10% return so far this year waiting on eurjpy to spike up to add new shorts
any forecast on when this thing is going to turn around? I'm looking at 141.3 to 140.70. Somewhere there should be a good time for it to turn. Won't be a sharp turn either, so be careful.
Faith ends where worry begins, and worry ends where faith begins.
  • #354
  • Jan 3, 2014 9:48am Jan 3, 2014 9:48am
Said system fund selling of EURJPY putting pressure on stops below the 142.00 level; if cleared, risk sentiment may fall across the board.
  • #355
  • Jan 3, 2014 9:53am Jan 3, 2014 9:53am
Quoting pungggi
Hi to all this last move was a clear rebound. so hello to higher price. but still resistance at 145.67 and then all way open to 147.50 {image}
that arrow went the other way, way below that chart. lol
  • #356
  • Jan 3, 2014 10:16am Jan 3, 2014 10:16am
Not sure what arrow your talking about, but thanks for the link. Very cool.
Faith ends where worry begins, and worry ends where faith begins.
  • #357
  • Jan 3, 2014 10:24am Jan 3, 2014 10:24am
View the post I quoted
Didnt mean to post the link, ignore it. Nothing to see there!
  • #358
  • Jan 3, 2014 11:23am Jan 3, 2014 11:23am
Quoting EmeraldEyes
View the post I quoted Didnt mean to post the link, ignore it. Nothing to see there!
Got it. Only if it were that easy!
Faith ends where worry begins, and worry ends where faith begins.
  • #359
  • Jan 3, 2014 1:25pm Jan 3, 2014 1:25pm
How long do you guys think that the bears will keep control of the market?
  • #360
  • Jan 3, 2014 2:01pm Jan 3, 2014 2:01pm
Quoting michaelv
How long do you guys think that the bears will keep control of the market?
My fortune teller said till the bulls take over, Do you agree?
Faith ends where worry begins, and worry ends where faith begins.
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