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USD/JPY Discussion

  • #48,261
  • Sep 17, 2014 5:29pm Sep 17, 2014 5:29pm
Quoting marshalmax
Still long and added new position today. Moved stop up to new 2 candle low and this put my 5th position just above BE so a 6th position was opened. Currently at +2110 pips with 1300 pips locked in by the stop. {image}
I think your latest long might be premature, but otherwise, good job!
  • #48,262
  • Sep 17, 2014 6:04pm Sep 17, 2014 6:04pm
Quoting marshalmax
Still long and added new position today. Moved stop up to new 2 candle low and this put my 5th position just above BE so a 6th position was opened. Currently at +2110 pips with 1300 pips locked in by the stop. {image}
  • #48,263
  • Sep 17, 2014 6:24pm Sep 17, 2014 6:24pm
parabolic.

hasnt had a proper down day since august 6th

up over 600 pip without a decline. traders sure are chasing the tail of this.
  • #48,264
  • Sep 17, 2014 6:30pm Sep 17, 2014 6:30pm
We've hit the 161.8 extension for the yearly range. I'm out, expecting a retracement before 110+.
  • #48,265
  • Sep 17, 2014 6:30pm Sep 17, 2014 6:30pm
USD is relentless right now, not too sure as to why since the fed hasnt really changed language (at least not that much).. happy with my profit (very) .. i wouldnt short this pair.. as i havent since July when this run has started, have been buying all the time on pullbacks.. now just waiting for some resistance and consolidation and a pullback to reload .. but its also heading to that major resistance 110 .. so patience and extra analysis is needed before my reload.

i wonder why people short without any sign of consolidation or point of resistance or any signs but just "it went up to high so it must come down"
  • #48,266
  • Sep 17, 2014 6:31pm Sep 17, 2014 6:31pm
Waiting for 110.

It's gone too far IMO to add any more longs without a good FIB retrace.
  • #48,267
  • Sep 17, 2014 6:37pm Sep 17, 2014 6:37pm
Quoting Pharm0r
Waiting for 110. It's gone too far IMO to add any more longs without a good FIB retrace.
agree
  • #48,268
  • Sep 17, 2014 7:16pm Sep 17, 2014 7:16pm
Quoting DonaldPump
{quote} I think your latest long might be premature, but otherwise, good job!
lol could be but they are my rules and I try to keep all emotion and subjectivity out of my system.
Winners add to winning trades!
  • #48,269
  • Sep 17, 2014 7:19pm Sep 17, 2014 7:19pm
Quoting Liam0530
i wonder why people short without any sign of consolidation or point of resistance or any signs but just "it went up to high so it must come down"
People like to think they can get in at the top or bottom of a trend when really the money comes from spotting the trend and riding its coat tails and milking it for all its worth!
Winners add to winning trades!
  • #48,270
  • Sep 17, 2014 7:32pm Sep 17, 2014 7:32pm
Quoting marshalmax
{quote} People like to think they can get in at the top or bottom of a trend when really the money comes from spotting the trend and riding its coat tails and milking it for all its worth!
Things dont go up forever it will go back down eventually, way the market works, it trades money back and forth everyday lol sometimes you lose sometimes you win, but I guarantee you that UJ will be back to 100 at some point. It is how long you can hold the trade for that matters.
  • #48,271
  • Sep 17, 2014 7:38pm Sep 17, 2014 7:38pm
Quoting Dano12
{quote} o yeeeee ))

Great call
  • #48,272
  • Sep 17, 2014 7:58pm Sep 17, 2014 7:58pm
not so soon...

CORRECTED-Japan's negative yields show BOJ's limits, as easing expectations rise

http://www.reuters.com/article/2014/...0RF01X20140917

Quoting strat1x
{quote} Things dont go up forever it will go back down eventually, way the market works, it trades money back and forth everyday lol sometimes you lose sometimes you win, but I guarantee you that UJ will be back to 100 at some point. It is how long you can hold the trade for that matters.
  • #48,273
  • Sep 17, 2014 7:59pm Sep 17, 2014 7:59pm
Quoting strat1x
{quote} Things dont go up forever it will go back down eventually, way the market works, it trades money back and forth everyday lol sometimes you lose sometimes you win, but I guarantee you that UJ will be back to 100 at some point. It is how long you can hold the trade for that matters.
Thats true and thats why you have a stop far enough to cover pullbacks but take you out at the sign of a trend finish. Then wait for any new trend to establish and confirm and then ride it again in which ever that direction takes you. Just let the candles do their thing and dont get spooked by news or peoples opinions. It's working for me so far but hey I'm just a noob so whatever!
Winners add to winning trades!
  • #48,274
  • Sep 17, 2014 9:13pm Sep 17, 2014 9:13pm
Quoting bluetoss
not so soon... CORRECTED-Japan's negative yields show BOJ's limits, as easing expectations rise http://www.reuters.com/article/2014/...0RF01X20140917 {quote}
There was an article out once before that in order for manufacturers in Japan to remain in business they had to remain profitable and the only way for them to remain profitable is for the YEN to be at 110 at minimum.
  • #48,275
  • Sep 17, 2014 9:24pm Sep 17, 2014 9:24pm
Quoting stylinex
{quote} There was an article out once before that in order for manufacturers in Japan to remain in business they had to remain profitable and the only way for them to remain profitable is for the YEN to be at 110 at minimum.
Except that theory depends on increased exports as a result of weak currency. Input costs (a big one here being energy after 2011) will take off big time. Not everyone wins in this situation.

http://www.bloomberg.com/news/2014-0...ss-chiefs.html
Corripe Cervisiam!
  • #48,276
  • Sep 17, 2014 10:34pm Sep 17, 2014 10:34pm
Quoting Liam0530
USD is relentless right now, not too sure as to why since the fed hasnt really changed language (at least not that much).. happy with my profit (very) .. i wouldnt short this pair.. as i havent since July when this run has started, have been buying all the time on pullbacks.. now just waiting for some resistance and consolidation and a pullback to reload .. but its also heading to that major resistance 110 .. so patience and extra analysis is needed before my reload. i wonder why people short without any sign of consolidation or...

Im with you as well. Been long on this since 101.70 and buying on each support test. I really dont see this going back to 100 lvls with nothing but positive data coming out of the FED, QE almost over and rate increases next year...but hey... to each their own.

I guess if you're scalping then shorting can work for some quick pips, but the USD is too much of a run away train right now for me to ever short it for too long IMO.

Im buying everything USD and just enjoying the ride.... well that and shorting the yen lol.

Im up about 3000 pips with all of my yen trades (USD, CDN and NZD)
  • #48,277
  • Sep 17, 2014 10:44pm Sep 17, 2014 10:44pm
Quoting paddlepip
{quote} Except that theory depends on increased exports as a result of weak currency. Input costs (a big one here being energy after 2011) will take off big time. Not everyone wins in this situation. http://www.bloomberg.com/news/2014-0...ss-chiefs.html
Most of the Japanese use trains and metros for transport and are switching to electric cars unlike the US where everyone has to drive 30 miles or so just to get to work.
  • #48,278
  • Sep 17, 2014 10:55pm Sep 17, 2014 10:55pm
109 or 108 today?? Lol..
  • #48,279
  • Sep 17, 2014 11:13pm Sep 17, 2014 11:13pm
Quoting stylinex
109 or 108 today?? Lol..

Inching closer
  • #48,280
  • Sep 17, 2014 11:17pm Sep 17, 2014 11:17pm
Quoting Rizmeister
{quote} Inching closer

I need 108.55 for a safe exit
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