Discuss the USD/JPY with a DailyFX Analyst - Page 181

VINCY BALBOA · #**2701** (**permalink**) 07-18-2009, 12:14 AM

Quote:

Originally Posted by upadrasta

so did u take a position on usdjpy?

btw by any chance do u trade on indian stocks in some form. i find it so difficult to apply some tech anal concepts there. i am always wrong

Hi

Ummm Interesting you Trade in INDIAN Stock Oh yes ,, this is My Favorite Matket!!!

You are an Idiot What Difficult Silly Why you Do not Made a Position When The ''GOVERNMENT JUST CAME Into The Same Government.. huh If you are A Long Term So In that you Earn very much..

I Hold Stock In India Market ,'''UNITECH'' ,.,.SATYAM"' ICICI , L&T Etc..

they Give me Lot of Return ..

Unitech. I bought @32 = Sold @91

Satyam ..I bought@52 = Sold 81 And When I sold satyam Till Now that Share Doesn't Move Up Of 80 Level .. it is So Cool..

I do Love To Trade...

REGARDS VINCY BALBOA

asherewt · #**2702** (**permalink**) 07-18-2009, 08:58 PM

Anyone trading AUDJPY ?

melvyn · #**2703** (**permalink**) 07-19-2009, 12:36 AM

Quote:

Originally Posted by cmellon

I will take a short position when USD JPY closes below 93.3. If it makes a new high in next couple of days, then I will change the strategy.

I don't trade Indian stocks. May I know what types of trader you are? Are you a daytrader who enters and exits at the same day, or are you willing to sit with your position for several days/weeks/months?

The technical concept I use is usually for trading a longer term position. In general, the shorter your time frame, the more difficult it is to trade. But some people are good at short term trade / scalp, but it's just not my cup of tea.

Cmellon,
is this the signal day you're looking at for confirmation of itd high of 11? My chart at FXDD shows a high of 94.45 and low of 93.25 for the 15th. If we get a close below 93.25 before it goes higher, 11 high will be IN and short placed just below this level?
Thank you

cmellon · #**2704** (**permalink**) 07-19-2009, 06:24 AM

Quote:

Originally Posted by melvyn

Cmellon,
is this the signal day you're looking at for confirmation of itd high of 11? My chart at FXDD shows a high of 94.45 and low of 93.25 for the 15th. If we get a close below 93.25 before it goes higher, 11 high will be IN and short placed just below this level?
Thank you

Hi Melvyn,

Yes you are right. I am waiting for confirmation of ITD 11 high and you understand it correctly. The price level to enter short however doesn't have to be below 93.25. Once you get confirmation of a daily candle close below 93.25, you could enter short at any level you want with stop loss above ITD 11 high. Once ITD 11 high is confirmed, I could use cornflower 1 hour strategy for example, entering short when there's a rally to EMA 12. If you read GBP JPY thread, I did discuss cornflower a little bit.

melvyn · #**2705** (**permalink**) 07-19-2009, 10:21 AM

Quote:

Originally Posted by cmellon

Hi Melvyn,

Yes you are right. I am waiting for confirmation of ITD 11 high and you understand it correctly. The price level to enter short however doesn't have to be below 93.25. Once you get confirmation of a daily candle close below 93.25, you could enter short at any level you want with stop loss above ITD 11 high. Once ITD 11 high is confirmed, I could use cornflower 1 hour strategy for example, entering short when there's a rally to EMA 12. If you read GBP JPY thread, I did discuss cornflower a little bit.

Cmellon,
thank you for your resposes to my questions here and on GBP/JPY thread. Delta doesn't seem so difficult once we have someone like yourself willing to teach others. Thanks a bunch!

cmellon · #**2706** (**permalink**) 07-20-2009, 09:37 AM

Quote:

Originally Posted by melvyn

Cmellon,
thank you for your resposes to my questions here and on GBP/JPY thread. Delta doesn't seem so difficult once we have someone like yourself willing to teach others. Thanks a bunch!

You are welcome

cmellon · #**2707** (**permalink**) 07-21-2009, 04:17 AM

Still no confirmation here, but I would try to short 94.15, stop loss above 94.77. Target below 91.7.
Target time: First week of August.

John Kicklighter · #**2708** (**permalink**) 07-21-2009, 10:53 AM

Risk appetite is right on the cusp of making a real break higher. There are some pairs making the push; but I'm waiting for the dollar to confirm its next leg down as the risk appetite counterpart.

Looking for the index to drop below 78. But, even if we do get a break there, how far will we go? Technically, if this is a -&S pattern, there isn't much room to run theoretically.

John Kicklighter · #**2709** (**permalink**) 07-21-2009, 10:56 AM

This was a good setup for a reversal. Heavily dependent upon risk appetite (and therefore a risky trade); but still a good play.

cmellon · #**2710** (**permalink**) 07-21-2009, 11:07 AM

Update USD YEN Delta from July 8 to today.

I am putting ITD 11 high as already IN at 94.78 due to the daily close below the low of signal day at 94.12.

Intermediate Term direction is DOWN, Medium Term direction is DOWN. Target is below 91.7, and target time is around August 6.

ftah · #**2711** (**permalink**) 07-21-2009, 11:58 AM

Hello cmellon,

I apologize in advance if this is a stupid question, but I read you blog regarding how ITD11 would be put in place for USD/JPY (your blog was illustrating GBP/JPY) and based upon that I thought yesterday's low (94.12) would need a close today below that for confirmation. Technically, the signal would be at today's close and assuming it was below yesterday's low of 94.12. So are you just calling it as "in" ahead of the closed based on the way today is going?

Thanks,
Sal

cmellon · #**2712** (**permalink**) 07-21-2009, 12:03 PM

Quote:

Originally Posted by ftah

Hello cmellon,

I apologize in advance if this is a stupid question, but I read you blog regarding how ITD11 would be put in place for USD/JPY (your blog was illustrating GBP/JPY) and based upon that I thought yesterday's low (94.12) would need a close today below that for confirmation. Technically, the signal would be at today's close and assuming it was below yesterday's low of 94.12. So are you just calling it as "in" ahead of the closed based on the way today is going?

Thanks,
Sal

Hi Sal,

It's not a stupid question at all. I assume that you use U.S broker, right? I use U.K broker and the candle has closed (London closing time is at 3 PM GMT or 11 AM EST) and it has closed below 94.12.

ftah · #**2713** (**permalink**) 07-21-2009, 12:09 PM

Ahhh! Yes, I am in the U.S. and still waiting for the EST close for the candle. That explains it.

Thanks.

JForex · #**2714** (**permalink**) 07-21-2009, 10:50 PM

Hi John and others,

Does anyone else see a Short setup on the USDJPY Daily?

It looks like a perfect bounce off the trend line, Stochastic showing hidden divergence, and MACD showing no reversal sign from the downtrend.

Evening Star reversal near Trendline further seems to confirm the short.

I see a H1 swing high @ 93.79 and add 23 pip Stop @ 94.01.

Anyone shorting this pair? Stops?

JForex · #**2715** (**permalink**) 07-22-2009, 10:56 AM

Too bad the short did not take off. I entered at 93.52. It went down about 50 pips to 93.02, and then came back to 93.62 right now.

I had reset my stop to breakeven after 50 pip gain so no loss, but no gain either.

The Daily charts are consolidating heavily across the board. Its quite boring.

Is it a good strategy to take P/L at 50 to 100 pips and close the trade? I only reset my stop at hat point, so most times I am back to breakeven.