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USD/JPY is WELL above the ichi cloud. This suggests that buying on decent dips is the way to go. Not many more pips before aud/jpy breaks into the cloud, in which is very thin at the point. Suggesting that resistance to the upside is light through the cloud. Gbp/jpy is in the loud, a break above would be a good buy.
My personal opinion about this is that the Euro buyers will pay. I may be wrong.....given that, i'll enter a decent short position if we see 1.33 or so.
"new new rule I stop trading after Sunday night."
You only gonna trade on Sunday? Or are you only going to trade starting Monday?
Do you have one of those dudes with a blood stained flag? I'll place it on the front page of tfxh. lol
I'm with you my friend. Not waving the white flag yet though. My flag is stained with blood. lol
I think the initial rise was because the dow futures were pointing well into positive, creating optimism in the cross/jpy pairs. Then the futures fell apart, and the dow opened and came crashing down. So now i'm a bagholder. Not just like a purse, but more like Santa clauses bag.
I have not watched Slumdog Millionaire yet. Perhaps i should see it...seems to have a lot of buzz in the media. I've decided that i'm holding my longs profit or bust. I like being on the edge of margin call. sigh
If you look at my statement, you can see the definition of "over-leveraged" lol
you too thanks, i'll need it
you can always see what I am in here:
http://www.thefxhub.com/index.php?pageid=statement
But you have to register to see it.
i am IN aud/jpy long...quite largely. lol and largely in the red.
struggling through the day! hope to come out smelling like a rose....however, its looking more like i'll be smelling like a turd!
Interesting. Dodd sais possible nationalization, Obama sais there's no initial plan of nationalization. Two days later, Feds may buy 40% of Citi...lol perhaps Obama and Dodd met in the middle? F'in amazing.
Good to hear! Glad it worked out for you as +pips are good pips.
ohh...i missed this post. GJ.
It's down to 1.2780. You should be good as long as it moves down into the open. I'm not sure how shady the brokers are on such situations.
Looks like a decent gap already...currently sitting at 1.2785 on Oanda's feed
lol..talk about a yo-yo! Read this...
Now the EUR will probably crash like the USD did Friday....
http://www.forexfactory.com/news.php?do=news&id=154467
USD/JPY Quick Review from this morning....
http://www.thefxhub.com/forums/thefxhub-commentary/7232-usd-jpy-quick-review.html#post7413
Certainly sitting at a critical point from a medium to longer term point of view. I'm expecting a drop back to 92.00-92.30 before the market takes another shot at that resistance sitting around about 94.50-94.60. A break there(at your line) would be substantial in my opinion. So, i'm looking to buy a dip at around 92.30's or so. What's your opinion?
Live it up while you can! "then again this is my (OT) time ta shine" I'm going to come back like a mad-man!
I would have to agree with this. If confidence could be instilled into the market, I feel that it would make a huge difference. That one - I give to Obama. He needs to smile a little! Talk positive...imo.
I don't know how or why I PM'ed my response to this post, but it was meant to be on the board so here's the copy and paste of my response:
"I understand what you mean...so I just turned the tv off. lol Perhaps I can just turn it to I Love Lucy and all will be well in my head. Also, I need to make a correction, it wasn't Obama, but Sen. Dodd that made the comments! Forgive me for my error. "
I prefer to look at the longer timeframes. I NEVER go below 15 minutes anymore. If i'm scalping, I use the 15min charts. I had some short gbp/jpy's late in the day and closed them out for a very small loss so I didn't have to hold over the weekend. I was thinking down the lines of you, "wonder where the heck the market is going to go on sunday" no you didn't say that, but I feel your thoughts. I need to correct my statement about the nationalizing. It was Sen. Dodd who made the comments. I don't know who the heck rumored quantitative easing by the U.S. this weekend, but they should be punched in the eye along with Dodd. I certainly agree that Obama needs some room to work, i'm not a huge fan of Obama, but, I have no choice but to support him as he's our President now and I want him to do good for the country regardless. So, let me give him some room as well. Anyway, i'm out to enjoy my successful week. Perhaps i'll drink a pint to my game losses though. I'm a little pissed about that. My stop was in the right place(same place as my live account) but my margin wasn't, I MC'ed before it ever got to the stop. Had I not overleveraged, my game account would be looking great today! Peace and have a great weekend.
Certainly good points you make. The only thing I don't like is when people come out of nowhere to beat the economy while its down. Simply in a verbal manner. Who's included in this: Obama, Juncker, Soros, Bush, and nearly every other politician and banker. My point of view is this. Instead of hinting at nationalizing banks, why not just shut-up until this is figured out? The markets were operating in a somewhat civilized manner until Junker and Obama decided to open their mouths for no reason. In my opinion, there's no reason to say anything until a decision is made. I'm not really targeting any specific individual in this statement, it just happens to be that *the person of one month in office to speak today while i'm annoyed by the news. Another thing that bugs me, just mentioned in the news is that "Bush" left Obama with whatever the accumulated national debt is.....to me that's un-neccessary given the fact that 1.5 trillion or more has been added to that previous amount in one month. I think i'm done for the day, got a small gbp/jpy short for the heck of it. Basically following IFR Markets on this trade to see how it works out. Leaving it for stop, or tp for now. Peace and everyone have a great weekend!
Obama mentioned that nationalizing bank is an option....probably the cause for the crazy market. Stupid to even say anything as such IMO.
usd/chf is crumbling.
That's the downside to trading short timeframes in my opinion. Not much room for error. In my case, I have made a more than one error over the past 6 or so trading days that had me down over 1000.00. Since i'm looking at longer timeframes, i have room to move. However, I read that you look at the longer timeframes to check for trend before making trades on the short timeframes. This probably greatly reduces your risk. The move earlier was unrealistic, so i'm sure it burned a lot of traders. It'll probably come crashing down. I read that the reason for the move is a rumor that we(the U.S.) will be doing some form of quantitative easing today or over the weekend. If the rumor proves false, eur/usd may come come crashing back down.
congrats. These crazy times offer good opportunities for us. But are also good at breaking us. lol
milestone of 100%+ reached on my initial deposit since starting the live statement up.
closed out my mad longs for very nice profits
that's what i need to do...trade some gold or silver. I haven't made a single trade in either in the comp yet.
lol...damn games! Gold is sparkling! Hit 1000 today. I had to avg down in my live account, was getting killed overnight as I made the same trade live as demo...aud/jpy that is.
Your probably ahead in the comp as usd/cad was quite destructive to my contest account right along with my live account.
Ride that rocket! I'm riding the usd/jpy rocket again this morning. Staying away from the pos usd/cad as it reamed me a new one while i was sleeping
lol..great definition! Couldn't be more blunt I guess.
I took a lovely beating overnight....but am battling back this morning. sigh...stressful!
lol
you two stop griping.
I would've, but wasn't paying much attention to it since i've already traded it today...very successfully. My stupid margin is tied up in usd/cad. I wish it would either go up or go down an margin call me or something. Either way i'd get some kind of emotion out of the pos.