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USD/JPY Discussion

  • #41,661
  • Jan 14, 2014 11:28pm Jan 14, 2014 11:28pm
Quoting Ken A
This will be my last reply, to win internet argument is not my thing.
Nor is it mine.

I am sorry but I think you misunderstood me. Perhaps that is my fault, I don't know. I am not looking to fight with you -- in fact, I agree with you! Per my post above, I have said that there is more than one way to skin a cat.

The only thing that matters in the end is whether or not you are making money as a trader. I think it's safe to say we can leave it at that!
Please check out my blog at https://from-zero-to-hero . net
  • #41,662
  • Jan 14, 2014 11:43pm Jan 14, 2014 11:43pm
Quoting Ken A
{quote} For JPY technical is not enough when fundamental is the drive. Follow the news, eco data, policy statement and indices movement. And the best indicator is watching other XXX/JPY, XXX/USD
For this pair specifically I agree with you. The fundamentals are just as important as the technicals. You know what....I tend to think that with every pair and so far when everything lines up it works out great.... High probability trades are the name of the game. Making money off what you know not what you think.
"A true speculator tries the market small." - Jesse Livermore
  • #41,663
  • Jan 15, 2014 1:16am Jan 15, 2014 1:16am
Quoting smash1820
{quote} I am a daytrader by nature, so 500 to 1,000 pip positions do not interest me since I figure if you predicted all the swing highs to swing lows within that sequence of the trend, you could pull a lot more than 500 to 1,000 pips out of the very same move.
very true but long term traders have way less stress than day traders. and that pays off even for less $$$
  • #41,664
  • Jan 15, 2014 1:52am Jan 15, 2014 1:52am
Quoting Raypower
{quote} so whats ur t.p
106++
  • #41,665
  • Jan 15, 2014 1:53am Jan 15, 2014 1:53am
Quoting kweiss10
{quote} very true but long term traders have way less stress than day traders. and that pays off even for less $$$
done both and tottaly agree.

actually more $$$$
  • #41,666
  • Jan 15, 2014 1:58am Jan 15, 2014 1:58am
thankfully stayed away from selling this yesterday, but will try shorts up against 104.85, also would look for longs near 103.49 if we head back down...gl, PTL..
Look Sharp/Trade Tight
  • #41,667
  • Jan 15, 2014 4:45am Jan 15, 2014 4:45am
This is a promising trade. Multiple technical indicators are lining up nicely. Although there are no 100% certainties in trading, it is good to see all the ducks in the same row.

On the harmonic front, there is a bullish cypher pattern developing. The possible reversal point at 78.6% is around 94.20-30.

Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY 4hr.png Size: 122 KB


On classical technical analysis, the currency is in a strong steady uptrend channel since June 2013. With multiple points touching the upper and lower band of the rising channel. The trend line support is also around 94.00.

Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY 4hr 02.png Size: 96 KB


Based on the available information, this is my trading plan.

LONG CADJPY 94.00-30
SL 93.50
TP every 100pips
  • #41,668
  • Jan 15, 2014 4:47am Jan 15, 2014 4:47am
Quoting PayTheLimit
thankfully stayed away from selling this yesterday, but will try shorts up against 104.85, also would look for longs near 103.49 if we head back down...gl, PTL..
thing still feels bid, gonna move my pending shorts up to 105.10
Look Sharp/Trade Tight
  • #41,669
  • Jan 15, 2014 5:18am Jan 15, 2014 5:18am
Quoting Raypower
{quote} so whats ur t.p
here you go more details

signal to buy at 103.00, stop 102 came from a system that I run and is in experimental stage. Betting 1/4 of full position and working on detailed plan.

Successful moves are large, in this case average would be 500 to 1000 pips. This is only second trade of this type I put real money in.

Will be really excited if I see it go at least another 200 pips to 106 without 100 pip retracement.

Run another 2 systems that have me right now at account all time high.

now you know everything
  • #41,670
  • Jan 15, 2014 5:26am Jan 15, 2014 5:26am
shorted, see a big downside today, SL - todays high
  • #41,671
  • Jan 15, 2014 5:46am Jan 15, 2014 5:46am
Quoting Jgcole83
{quote} Making money off what you know not what you think.
The problem with your line of reasoning is that you don't know that you don't know what you don't know.
I have no clue what I'm talking about.
  • #41,672
  • Jan 15, 2014 6:03am Jan 15, 2014 6:03am
UJ could engage in triangle play until US session
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m5-saxo-capital-markets.png Size: 81 KB
  • #41,673
  • Jan 15, 2014 6:06am Jan 15, 2014 6:06am
down down the river. every pair reverses to mean.
  • #41,674
  • Jan 15, 2014 6:28am Jan 15, 2014 6:28am
Quoting Boy Wonder
{quote} The problem with your line of reasoning is that you don't know that you don't know what you don't know.
....is that a Donald Rumsfeldt quotation?
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #41,675
  • Jan 15, 2014 6:40am Jan 15, 2014 6:40am
Quoting Exodus
{quote} ....is that a Donald Rumsfeldt quotation?
Yes; he phrased it though by talking about known knowns, known unknowns, and unknown unknowns.
Socrates said much the same thing: "The only true wisdom is in knowing you know nothing."
The point though is that we need to know that there is stuff that we don't know that we don't know.
It's a very serious point and one worth dwelling on.
I have no clue what I'm talking about.
  • #41,676
  • Jan 15, 2014 7:04am Jan 15, 2014 7:04am
Quoting Boy Wonder
{quote} Yes; he phrased it though by talking about known knowns, known unknowns, and unknown unknowns. Socrates said much the same thing: "The only true wisdom is in knowing you know nothing." The point though is that we need to know that there is stuff that we don't know that we don't know. It's a very serious point and one worth dwelling on.
true
  • #41,677
  • Jan 15, 2014 8:06am Jan 15, 2014 8:06am
Quoting EmeraldEyes
{quote} Nikkei set to open 1%+. Today's Yen weakness cited as a catalyst for the stock index's rebound.

let me get it, if nikkei goes up=yen goes down, so negative correlation?, i got that right?
  • #41,678
  • Jan 15, 2014 8:50am Jan 15, 2014 8:50am
Quoting pipBlast
{quote} let me get it, if nikkei goes up=yen goes down, so negative correlation?, i got that right?
If Nikkei goes up, UJ goes up. ...usually.
Somebody said there is better correlation with Nikkei futures.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #41,679
  • Jan 15, 2014 9:54am Jan 15, 2014 9:54am
short 104,5 TP 103 SL 105
  • #41,680
  • Jan 15, 2014 10:35am Jan 15, 2014 10:35am
Quoting artocarpus
short 104,5 TP 103 SL 105

TP 103?Are you holding for weeks?
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