This is definitely a safe way to look at it and should be applied in all trades not just ones that have moved a lot. There is plenty of room for it to continue up....I don't trade what if's..
- #52,623
- Dec 6, 2014 7:16pm Dec 6, 2014 7:16pm
Hi guys,
Been watching this forum for a while now but never signed up. Since it was coming up to Xmas and it being the time to mingle, I thought I would get involved. Plenty of interesting analysis and it is always good to see why people see things differently when compared to my own trading.
With this currency pair, I think it has more room on the upside before it retraces personally.
Now that it has pushed through 121, hasn't retraced back and is consolidating on an h1 chart means I have kept my long position open over the weekend. Although it is important to be wary about a pull back. My understanding is that the Non Farm Payroll data will likely continue to back the push for this pair to go up to the 122 mark. Once it hits that I think then I think we will see some sort of pull back.
With the fed looking at hiking its interest rates up and the JPY being in the state it is in, I can only see bullish momentum for this pair. With price moving the way it does, we will probably see some corrective move but not sure if it will be anytime soon. I certainly wouldn't look to short this.
Just my two cents.
S 
Been watching this forum for a while now but never signed up. Since it was coming up to Xmas and it being the time to mingle, I thought I would get involved. Plenty of interesting analysis and it is always good to see why people see things differently when compared to my own trading.
With this currency pair, I think it has more room on the upside before it retraces personally.
Now that it has pushed through 121, hasn't retraced back and is consolidating on an h1 chart means I have kept my long position open over the weekend. Although it is important to be wary about a pull back. My understanding is that the Non Farm Payroll data will likely continue to back the push for this pair to go up to the 122 mark. Once it hits that I think then I think we will see some sort of pull back.
With the fed looking at hiking its interest rates up and the JPY being in the state it is in, I can only see bullish momentum for this pair. With price moving the way it does, we will probably see some corrective move but not sure if it will be anytime soon. I certainly wouldn't look to short this.
Just my two cents.
S
- #52,633
- Dec 7, 2014 5:21pm Dec 7, 2014 5:21pm
- Joined May 2012 | Status: CoC'd again ! | 8,578 Posts
{quote}
Their region of focus, '95 - '97, prefaced some stark misery in the banking sector (what a surprise! I made loads in the stock market
)In '98 we had:
- an Argentinian currency crisis....
- a Russian default on an IMF loan....
- the collapse of a relatively large hedge fund named LTCM (which nearly torched UBS, funny how they are always there)
- one other thing which I can't remember now.....
Right now my impression is that the world of banking is still under way too much scrutiny for a major storm of that nature, but as somebody in the last Bush administration once said, "it is the unknown unknowns that get you."
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
- #52,634
- Dec 7, 2014 5:24pm Dec 7, 2014 5:24pm
- Joined May 2012 | Status: CoC'd again ! | 8,578 Posts
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
Morning folks! Good day for yen to retrace back to 120.116ish {image}
I agree, could be starting right now. Can't believe I'd ever be thinking about BUYING at 120.xx. Thanks for ruining your country's economy just in time for Christmas, Abe!
- #52,640
- Dec 7, 2014 6:59pm Dec 7, 2014 6:59pm
- Joined Jan 2012 | Status: Trader | 1,711 Posts
Good luck and may the odds be ever in your favor!