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USD/JPY Discussion

  • #57,181
  • Jun 5, 2015 5:06am Jun 5, 2015 5:06am
Quoting Davit
... because of overvalued USD
Who says it is?

Lagarde {with 2 not 3 A's} another one with no credibility?

Anyway NFP later this morning with determine next move - not someone talking.
  • #57,182
  • Jun 5, 2015 5:12am Jun 5, 2015 5:12am
Quoting SuperMario21
Seems that we can get a double top in area 125...
Double top or a rising wedge... depends on how you look at it.
"Tips are for waiters." - Reminiscences of a stock operator
  • #57,183
  • Jun 5, 2015 5:22am Jun 5, 2015 5:22am
Quoting Winthorpe
{quote} Double top or a rising wedge... depends on how you look at it.
I see possible double top....reversal pattern...and than short....
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  • #57,184
  • Jun 5, 2015 5:26am Jun 5, 2015 5:26am
Quoting SuperMario21
{quote} I see possible double top....reversal pattern...and than short.... {image}

Hmm.. dunno, I'm 50-50 about it tho I'm looking at it on a larger timeframe - trading this over days rather than hours... Could go both ways.. definitely sitting tight for the moment. Short-term I'd probably sell just below 125 with a tight SL but I'm interested in the long haul...
"Tips are for waiters." - Reminiscences of a stock operator
  • #57,185
  • Jun 5, 2015 5:37am Jun 5, 2015 5:37am
No double top on weekly.
  • #57,186
  • Jun 5, 2015 5:58am Jun 5, 2015 5:58am
Am going for double top circa 125 (end 5th wave) looking for short to 116- 115.00
  • #57,187
  • Jun 5, 2015 6:04am Jun 5, 2015 6:04am
Quoting traderblah
Am going for double top circa 125 (end 5th wave) looking for short to 116- 115.00
Lol, GL with that, boj will never allow it. Might get a temporary retrace to 122-121 max but beyond that they'd have to discover oil in the sea of japan lol.
"Tips are for waiters." - Reminiscences of a stock operator
  • #57,188
  • Jun 5, 2015 6:08am Jun 5, 2015 6:08am
Quoting Winthorpe
{quote} Lol, GL with that, boj will never allow it. Might get a temporary retrace to 122-121 max but beyond that they'd have to discover oil in sea of japan lol.
+ 1

especially ahead of news - NFP - where who knows really how the market will react.
  • #57,189
  • Jun 5, 2015 6:21am Jun 5, 2015 6:21am
YO technically this will go more upside. at least 300pips. DO NT SHORT THIS.
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  • #57,190
  • Jun 5, 2015 6:34am Jun 5, 2015 6:34am
waiting for NFP

already know, or stop hunt
  • #57,191
  • Jun 5, 2015 6:49am Jun 5, 2015 6:49am
Quoting Dano12
waiting for NFP already know, or stop hunt


Hmm.. they'd be stop hunting a bit more quickly and agressively, closer to the announcment... Maybe. If there's a pronounced dip just before NFP then I'd bet it's gonna burst up. But then, the hell I know. Don't listen to me, I'm trading long-term fundies here.
"Tips are for waiters." - Reminiscences of a stock operator
  • #57,192
  • Jun 5, 2015 6:51am Jun 5, 2015 6:51am
Quoting Winthorpe
{quote}
maybe, already know We'll find out for a moments
  • #57,193
  • Jun 5, 2015 6:57am Jun 5, 2015 6:57am
I trade NFP only UJ. Few seconds before news there is a big movement in one direction, then when the data is coming out pair makes a huge move in the opposite direction. Check it out :-)
  • #57,194
  • Jun 5, 2015 7:01am Jun 5, 2015 7:01am
Quoting Dano12
{quote} maybe, already know We'll find out for a moments

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"Tips are for waiters." - Reminiscences of a stock operator
  • #57,195
  • Jun 5, 2015 7:09am Jun 5, 2015 7:09am
Targeting 120 area on bad nfp in ~1 week. On good I don't care, stop at 125.10 (just above high).
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  • #57,196
  • Jun 5, 2015 7:13am Jun 5, 2015 7:13am
Look at also at psychological levels...
  • #57,197
  • Jun 5, 2015 7:18am Jun 5, 2015 7:18am
Quoting sakisf
Targeting 120 area on bad nfp in ~1 week. On good I don't care, stop at 125.10 (just above high). {image}
  • #57,198
  • Jun 5, 2015 7:22am Jun 5, 2015 7:22am
Quoting nobbie
I trade NFP only UJ. Few seconds before news there is a big movement in one direction, then when the data is coming out pair makes a huge move in the opposite direction. Check it out :-)
Something I noticed too
Losers Hope, Winners Believe
  • #57,199
  • Jun 5, 2015 7:23am Jun 5, 2015 7:23am
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Do not let the cost of being wrong, exceed the prize of beeing right
  • #57,200
  • Jun 5, 2015 7:25am Jun 5, 2015 7:25am
Official rate is 5.4 but almost 9% are underemployed part time workers.
That's the slack Feds are refering
Make USD too strong too soon and say good bye any hope of real recovery down the drain.
I am anticipating dovish Feds today.
In trading, you have to be defensive and aggressive at the same time
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