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USD/JPY Discussion

  • #43,541
  • Feb 26, 2014 10:37am Feb 26, 2014 10:37am
Quoting PayTheLimit
{quote} never...
Still holding my short from 102,330 so I would like you to be right on this one. But looking at the given situation it seems that the .400 plays as a magnet. From my experience I know that such 'magnets' don't hold too long simply because there are quite a few risk limits hidden there.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #43,542
  • Feb 26, 2014 10:37am Feb 26, 2014 10:37am
Quoting ZA Rhino
What will it take to break 400?
Time.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #43,543
  • Feb 26, 2014 10:40am Feb 26, 2014 10:40am
Quoting Exodus
Yen is strong, seems like everything else is going down.
Well the good news is that I hooked up a long in EJ at ~139.70.
The bad news is that I just watched UJ as it bounced up and down.....

Need some Yen weakness please...
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #43,544
  • Feb 26, 2014 10:41am Feb 26, 2014 10:41am
Quoting Mr.C
{quote} Still holding my short from 102,330 so I would like you to be right on this one. But looking at the given situation it seems that the .400 plays as a magnet. From my experience I know that such 'magnets' don't hold too long simply because there are quite a few risk limits hidden there.
I'm short from the same exact price, and yes, third time up, chances are slim, but I liked selling this area before, so I can't bring my self to cover, my stop has been in all day, haven't moved it...
Look Sharp/Trade Tight
  • #43,545
  • Feb 26, 2014 10:44am Feb 26, 2014 10:44am
Quoting PayTheLimit
{quote} I'm short from the same exact price, and yes, third time up, chances are slim, but I liked selling this area before, so I can't bring my self to cover, my stop has been in all day, haven't moved it...
Another scenario here is that we'll break the zone just to get these vulnerable stops and then back south. Holding my SL @ 102,550 (ready to move a bit up). We'll see. Good luck to both of us mate.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #43,546
  • Feb 26, 2014 10:44am Feb 26, 2014 10:44am
Quoting Exodus
{quote} Well the good news is that I hooked up a long in EJ at ~139.70. The bad news is that I just watched UJ as it bounced up and down..... Need some Yen weakness please...
the buyers are eating up the sellers very nicely...and more buyers will join soon imo.
f(z)=z2+c
  • #43,547
  • Feb 26, 2014 10:48am Feb 26, 2014 10:48am
Quoting hathor
{quote} the buyers are eating up the sellers very nicely...and more buyers will join soon imo.
Eating them up like pacman right now. I think 40 is a goner short term. Im too conflicted though on this pair so i'l just put the screen time in and stay flat.
  • #43,548
  • Feb 26, 2014 10:48am Feb 26, 2014 10:48am
Quoting Mr.C
{quote} Another scenario here is that we'll break the zone just to get these vulnerable stops and then back south. Holding my SL @ 102,550 (ready to move a bit up). We'll see. Good luck to both of us mate.
sure that is also a likely scenario, my stop is/has been at 103.43...gl to you too...
Look Sharp/Trade Tight
  • #43,549
  • Feb 26, 2014 10:49am Feb 26, 2014 10:49am
For the bulls. There is something like an inv HS in M1. But it will fail, at least I hope so.
Don't be smart. Be rich.
  • #43,550
  • Feb 26, 2014 10:58am Feb 26, 2014 10:58am
Looking like a little pop may be coming. 40 is putting up a fight but the buyers have been building. I put a small piece of change on the upside. Binary so I hope it pops before 11pm eastern lol. Those stops above 40 look ripe for the taking.
  • #43,551
  • Feb 26, 2014 11:05am Feb 26, 2014 11:05am
Quoting maximinus
For the bulls. There is something like an inv HS in M1. But it will fail, at least I hope so.
there is a lot of seller, because if we don't make new high now, than it can be a nice butterfly (that's right wing would predict a possible move under 102.000)...so maybe they push the buyers down, but when we reach fibo levels and other supports it will become interesting.

Edit: UsdJpy is knocking on 102.400's door
f(z)=z2+c
  • #43,552
  • Feb 26, 2014 11:06am Feb 26, 2014 11:06am
Quoting Mr.C
Hi traders. Back to USD/JPY. Sold the pair @ 102,330. SL @ 102,580. Wish all a successful day!
Closed my short for a small, 5 pips loss (0,1%). Might be re-entering. Need to see more of the PA.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #43,553
  • Feb 26, 2014 11:11am Feb 26, 2014 11:11am
and I shed 10 on those shorts..
Look Sharp/Trade Tight
  • #43,554
  • Feb 26, 2014 11:12am Feb 26, 2014 11:12am
For the record I thin 102.49 is the point where price will either decide to run up or turn back down. If it breaks 49 then a bunch of stops are in real danger. It could stall at this point but look for yourself...............on hourly chart it appears the last few days buyers have been picking up, clear divergence using OBV on hourly chart. Means there could be at minimum a short term burst upwards. If this comes to pass then 102.60 will get broken and 102.99 would be the next barrier. Thats what I see at least.

Of course for eager bulls I would be cautious because the daily is pretty much the Opposite and is showing a drop is in the coming. Trade your plan and both bulls and bears will make a few pips. I dont care which way it moves, I just want the darn thing to start moving
  • #43,555
  • Feb 26, 2014 11:12am Feb 26, 2014 11:12am
Quoting Mr.C
{quote} Time.
You called it... now is the time...
Carpe Vinum.
  • #43,556
  • Feb 26, 2014 11:13am Feb 26, 2014 11:13am
Quoting hathor
{quote} there is a lot of seller, because if we don't make new high now, than it can be a nice butterfly (that's right wing would predict a possible move under 102.000)...so maybe they push the buyers down, but when we reach fibo levels and other supports it will become interesting. Edit: UsdJpy is knocking on 102.400's door
Now start the game of nerves.
Don't be smart. Be rich.
  • #43,557
  • Feb 26, 2014 11:13am Feb 26, 2014 11:13am
4 hour chart is also showing some bullishness as well.
  • #43,558
  • Feb 26, 2014 11:19am Feb 26, 2014 11:19am
Quoting Trendzalore
For the record I thin 102.49 is the point where price will either decide to run up or turn back down. If it breaks 49 then a bunch of stops are in real danger. It could stall at this point but look for yourself...............on hourly chart it appears the last few days buyers have been picking up, clear divergence using OBV on hourly chart. Means there could be at minimum a short term burst upwards. If this comes to pass then 102.60 will get broken and 102.99 would be the next barrier. Thats what I see at least. Of course for eager bulls...
I agree, that's why i still keep my shorts.
Don't be smart. Be rich.
  • #43,559
  • Feb 26, 2014 11:23am Feb 26, 2014 11:23am
Quoting hathor
{image}
In an other view
Attached Image (click to enlarge)
Click to Enlarge Name: 2014.02.26. UsdJpy H4 #2.png Size: 31 KB
f(z)=z2+c
  • #43,560
  • Feb 26, 2014 11:34am Feb 26, 2014 11:34am
What's happening? Why it keeps rising???
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