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  • #3,981
  • Apr 22, 2014 8:01am Apr 22, 2014 8:01am
Quoting Boy Wonder
{quote} You're not wrong there. Welcome back, rehab. Got any nice trade ideas for us?
Thanks Bob . No, no nice trade ideas, I am short GJ hoping for a swing of 1:2 RR, but it doesnīt seem any great.
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  • #3,982
  • Apr 22, 2014 8:53am Apr 22, 2014 8:53am
Quoting Boy Wonder
Yen news: "The former Japanese Deputy Minister of Finance, Eisuke Sakakibara, known as "Mr. Yen", said that the Yen is more likely to move towards 110 Yen (USDJPY) per Dollar than to 100. " http://www.fxstreet.com/news/fxbeat/...a-20df6178050b http://www.fxstreet.com/analysis/for...ew/2014/04/22/ Tried to find the Bloomberg interview but couldn't; it appears to have disappeared. googling this guy I found a load of similar predictions from years past and my gut feeling is...

I certainly know of My Yen BW. He is big fish alright.
However he is now former and is not in position to move the Yen directly.

Secondly can this be jawboning?

Lastly I do think price will go to 110 or even more but I think there will be some downside play first. If price clears the 104 area then that downside play might be over and it might be 'up up and away' with usdjpy

Olu
If you think you can or cannot do it you are correct
  • #3,983
  • Apr 22, 2014 8:57am Apr 22, 2014 8:57am
Quoting rehab
I am back! it feels so lonely trading alone guys

Welcome back Rehab! Yo have been missed. Had to use all the emotives

Olu
If you think you can or cannot do it you are correct
  • #3,984
  • Apr 22, 2014 9:05am Apr 22, 2014 9:05am
Quoting Olu
{quote} Welcome back Rehab! Yo have been missed. Had to use all the emotives Olu
really missed you OLu!
  • #3,985
  • Apr 22, 2014 9:21am Apr 22, 2014 9:21am
Quoting rehab
{quote} really missed you OLu!

same here. My trade of any reconing while you were away was a 4-2 KO i got from trying to sell crude oil

Olu
If you think you can or cannot do it you are correct
  • #3,986
  • Apr 22, 2014 9:28am Apr 22, 2014 9:28am
Quoting Olu
{quote} same here. My trade of any reconing while you were away was a 4-2 KO i got from trying to sell crude oil Olu
what means 4-2 KO?
  • #3,987
  • Apr 22, 2014 10:14am Apr 22, 2014 10:14am
It seems that GJ wants to break the ascending triangle to up I tightened my SL.
  • #3,988
  • Apr 22, 2014 5:04pm Apr 22, 2014 5:04pm
Quoting rehab
It seems that GJ wants to break the ascending triangle to up I tightened my SL.

I am bullish for the time being on GJ see post #3950

Olu
If you think you can or cannot do it you are correct
  • #3,989
  • Apr 22, 2014 5:06pm Apr 22, 2014 5:06pm
Quoting rehab
{quote} what means 4-2 KO?

Rehab

it means a 4 -2 knockout. I placed 6 trades won 2 crude won 4. Funny market crude oil fell hard today

Olu
If you think you can or cannot do it you are correct
  • #3,990
  • Apr 22, 2014 6:05pm Apr 22, 2014 6:05pm
FXCM Dollar Index
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If you think you can or cannot do it you are correct
  • #3,991
  • Edited 7:15pm Apr 22, 2014 7:00pm | Edited 7:15pm
GbpNzd

There are questions, purely logical that can be asked like why not eurnzd or euraud e.t.c as it appears the gbp is very strong at the moment. The answer is those might be good trades too but I couldnt get the wave pattern right on those charts. So we'll see how this one plays out. The trade is wrong if 9631 is taken out. This is about 100 pips from here and is huge so we might see whether there can be a retracement so that risk is reduced. But this is at the risk of losing the trade altogether

Olu
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If you think you can or cannot do it you are correct
  • #3,992
  • Apr 23, 2014 12:42am Apr 23, 2014 12:42am
Quoting Olu
{quote} Rehab it means a 4 -2 knockout. I placed 6 trades won 2 crude won 4. Funny market crude oil fell hard today Olu
Ah, sorry to hear that! ya yesterday it droped like crazy...market timing!! good luck with your long GJ, I will wait for the breakout then i will join on the pullback.
  • #3,993
  • Apr 23, 2014 2:17am Apr 23, 2014 2:17am
hello olu, nice thread, keeping it open on my firefox !
  • #3,994
  • Apr 23, 2014 2:17am Apr 23, 2014 2:17am
Quoting rehab
{quote} Ah, sorry to hear that! ya yesterday it droped like crazy...market timing!! good luck with your long GJ, I will wait for the breakout then i will join on the pullback.

I didnt go long gj in the end. I chose the long usdcad and there is where I am at the moment. As I have been saying on the thread the current upmove in usdjpy is suspect until we take out 104 so I am out (post #3982)


Olu
If you think you can or cannot do it you are correct
  • #3,995
  • Apr 23, 2014 4:12am Apr 23, 2014 4:12am
Quoting Olu
{quote} I didnt go long gj in the end. I chose the long usdcad and there is where I am at the moment. As I have been saying on the thread the current upmove in usdjpy is suspect until we take out 104 so I am out (post #3982) Olu
so far the breakout didnīt happen, my SL is not yet hit and I am back in plus for the moment. However, it seems very neutral for me, and breakout in either directions is possible.
  • #3,996
  • Apr 23, 2014 5:44am Apr 23, 2014 5:44am
Quoting Boy Wonder
E/G is at a key point here; quite remarkable really how it's caught in the intersection of those trend lines. I'd have to favour a downside breakout here but let's see; are the Euro bulls going to step up to the plate? Certainly every time I think E/G is gonna tank, it bounces back like a mofo. {image}
E/G Update: Euro bulls stepped up to the plate. I'm very cautiously bearish G/U for now. It looks to me to be *maybe* running out of puff. E/U I'm still bullish to the gap close circa 1.39 and from there I'll have to see what the market does with it.
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I have no clue what I'm talking about.
  • #3,997
  • Apr 23, 2014 7:22am Apr 23, 2014 7:22am
Quoting Tuffy
hello olu, nice thread, keeping it open on my firefox !

Hi Tuffy

welcome to the thread. Please feel free to contribute

Olu
If you think you can or cannot do it you are correct
  • #3,998
  • Apr 23, 2014 7:31am Apr 23, 2014 7:31am
Quoting Boy Wonder
{quote} E/G Update: Euro bulls stepped up to the plate. I'm very cautiously bearish G/U for now. It looks to me to be *maybe* running out of puff. E/U I'm still bullish to the gap close circa 1.39 and from there I'll have to see what the market does with it. {image}
I have been reading up on Wolfe waves and I thought I saw a bullish one on Eurgbp.

By the way bullish Wolfe waves look the same as trading falling wedges IMHO except that it has targets built in and requires time symmety.
If you think you can or cannot do it you are correct
  • #3,999
  • Apr 23, 2014 9:13am Apr 23, 2014 9:13am
Quoting Olu
{quote} I have been reading up on Wolfe waves and I thought I saw a bullish one on Eurgbp. By the way bullish Wolfe waves look the same as trading falling wedges IMHO except that it has targets built in and requires time symmety.
The difference between them is confusing to me. I stick to wedges and let the price action (candle pattern), terndline and support and resistance tell about the target profit.
  • #4,000
  • Apr 23, 2014 11:02am Apr 23, 2014 11:02am
DAX: Potential inverse head and shoulders here. Worth keeping an eye on to see if it can crack resistance and make a higher high.
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I have no clue what I'm talking about.
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