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USD/JPY Discussion

  • #43,801
  • Mar 6, 2014 2:19pm Mar 6, 2014 2:19pm
E/J is showing no sign of retrace might affect U/J to the upside
  • #43,802
  • Mar 6, 2014 2:25pm Mar 6, 2014 2:25pm
Quoting Ken A
E/J is showing no sign of retrace might affect U/J to the upside
yes, doubt its a screamer but got to try
Don't be a hero. Don't have an ego. Always question yourself
  • #43,803
  • Mar 6, 2014 2:29pm Mar 6, 2014 2:29pm
Quoting USD-Bear
{quote} yes, doubt its a screamer but got to try
Well, if you are not expecting big pips it might work

103.00 is support so far
  • #43,804
  • Mar 6, 2014 2:47pm Mar 6, 2014 2:47pm
Bad news for the E/J bears, double whammy today. We are looking at a retest of 144.75.
  • #43,805
  • Mar 6, 2014 3:03pm Mar 6, 2014 3:03pm
May put on some small shorts ahead of NFP. Huge levels in play, I dont think the JPY weakness will last if NFP is a dud.


Big time resistance here, 50% retrace, channel resist, falling trendline resist. The fundamentals dont help either. Dont really get why risk was so bid up today, or why stocks keep blasting higher every damn day.
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  • #43,806
  • Mar 6, 2014 3:22pm Mar 6, 2014 3:22pm
lol

Big time resistance is @ 105.5xx

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  • #43,807
  • Mar 6, 2014 3:27pm Mar 6, 2014 3:27pm
Quoting Brassboy
Bad news for the E/J bears, double whammy today. We are looking at a retest of 144.75.
Oh goody!
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #43,808
  • Mar 6, 2014 5:44pm Mar 6, 2014 5:44pm
Great 15.7 pips range until break

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  • #43,809
  • Mar 6, 2014 7:48pm Mar 6, 2014 7:48pm
Quoting Alki
I take a simple trade: short because of ascending channel. If correct and the abc of trading will be be right (for once at least), target should be 99.00. Will that simple lesson for newbie give really 400 pips?
Until now, drawdown was 15 pips (short 103.00). It will be very funny if some stupid lessons for newbie seems correct.
Little luck is forex water. Learn all Trading strategies, then forget them.
  • #43,810
  • Mar 6, 2014 10:03pm Mar 6, 2014 10:03pm
Quoting Alki
{quote} Until now, drawdown was 15 pips (short 103.00). It will be very funny if some stupid lessons for newbie seems correct.
I think since many people may be short now they will most likely milk it pass 103. Good chance S&P500 hits 1900. Market is too bullish now. Once we hit 1900 they will milk it further to make sure a new base is formed with new support levels. New bubbles these days.
  • #43,811
  • Mar 6, 2014 10:16pm Mar 6, 2014 10:16pm
I have nothing close, looking for a break of 103.15 or 102.60 for a clue...good luck..
Look Sharp/Trade Tight
  • #43,812
  • Mar 6, 2014 10:43pm Mar 6, 2014 10:43pm
Quoting USD-Bear
giving bears a last chance, short @ 103,13 tight stop UJ H1: {image}
morning, moved stop to BE
Don't be a hero. Don't have an ego. Always question yourself
  • #43,813
  • Mar 7, 2014 5:31am Mar 7, 2014 5:31am
Quoting USD-Bear
{quote} morning, moved stop to BE
stopped again...
Don't be a hero. Don't have an ego. Always question yourself
  • #43,814
  • Mar 7, 2014 5:57am Mar 7, 2014 5:57am
Looks like YEN at 104-105 and S&P500 at 1900
  • #43,815
  • Mar 7, 2014 6:07am Mar 7, 2014 6:07am
Quoting USD-Bear
{quote} stopped again...
Bears got stopped and bulls just made some massive gains. I closed my short position with a small loss as well.
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  • #43,816
  • Mar 7, 2014 8:11am Mar 7, 2014 8:11am
I suspect there will be some support at 102.83/93, little late in the week to do anything with it on my end...
Look Sharp/Trade Tight
  • #43,817
  • Mar 7, 2014 8:19am Mar 7, 2014 8:19am
pin bar close below 103.20 is very bad here, its probably being driven by action on the crosses and risk appetite more than USD.

If you want to position for risk off in the coming weeks long JPY is your bet, depending on how we close. Equities look very soft, here.
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  • #43,818
  • Mar 7, 2014 8:39am Mar 7, 2014 8:39am
At this stage who the fuck knows. Still think we need to see 144.75 on EJ first.
  • #43,819
  • Mar 7, 2014 9:09am Mar 7, 2014 9:09am
Quoting Alki
{quote} Until now, drawdown was 15 pips (short 103.00). It will be very funny if some stupid lessons for newbie seems correct.
Stopped and again a confirmation for myself that newbie lessons like ascending wedge, channels, h&s ..etc are as stupid things as betting on red or black on casino, maybe yes, maybe no. Means no use for such things. Come back to my hard calculations with relation between price and timing. If a trader has not that, he could see if got chance in his own life to expect betting in trading.

So, more seriously, according to Gann square, we should begin to see a long retrace, specially on time, for at least 36 trading hours. Price action shows a great fight between bear and bull. If close below 172.9 and below open 172.50, means that bear begin to give sign of winner. Decide to take short in Gj for better gain.

Trade on what your chart show to you. You are owner of your money and never follow anyone, because if you loose, no one will give you back your lost.
Little luck is forex water. Learn all Trading strategies, then forget them.
  • #43,820
  • Mar 7, 2014 9:20am Mar 7, 2014 9:20am
Also, I feel that next week is going to be a bloodbath for many. Stay out of the market and there will be bargains to be had the week after.
Oh, and I prayed to the Lord that I wouldn't trade next week if he got me out of my underwater AU short position.
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