Pete
Monthly JPY
Plot showing possible resistance at the extention of the triangle line. Notice also the Descending triangle (bearish).
arco
http://www.khalsaspad.com/files/011906_168.gif
Printable View
Pete
Monthly JPY
Plot showing possible resistance at the extention of the triangle line. Notice also the Descending triangle (bearish).
arco
http://www.khalsaspad.com/files/011906_168.gif
cheers guys.confirming my suspicions.
Altho in this time frame the correctives would still be quite large it would seem better to generally be playing in the same direction as the major wave. it might grant some unexpected bonuses.
so whereabouts would we be looking for a breakout here? Somewhere around 95-100?
If it convincingly broke that maybe you could be lookin at 55 in no time where no time = 6 mths to a year of course hehe.
Pretty little things, aren't they.....
http://img243.imageshack.us/img243/9731/jpy6hn.png
Xerof
Hi All
Went short at 119.06
Currently 119pips
anyone else short?
Cheers
Slam
Yup, 116 area for me on this one. S/l at b/e now
yeh i shorted at 119.10 and took at 118.02 (demo) i'm thinkin its just a correction.
From My Squawk for what it's worth
Cheers
Slam
Quote:
quote:February
7. Traders looking for direction on the USD/JPY tonight should cast an eye to
the sharp fall in gold on the Tocom in December and the resultant collapse of
USD/JPY from levels above 120 to levels under 116.00. The Tocom collapse was
triggered by increased margin requirements that saw funds bail out of Tocom gold
contracts. On the physical market, traders mirroring that flow would sell gold,
receive the USD then sell the USD to buy JPY.
A similar fall-out is possible tonight particularly if a Tocom chart is eyed and
traders see the overextended gains on the Tocom. This risks another major
fall-out in USD/JPY, targeting further strong USD/JPY losses. Traders also
expect a large bail-out in the dollar bloc currencies against the JPY in the
wake of the gold and base metal markets collapse. NZD/JPY, AUD/JPY and CAD/JPY
are all expected to come under pressure tonight. USD/JPY offers remain at 118.20
but stops are seen at 118.30, 118.40 and 118.50 from CTAs. Bids are eyed at
117.70/80 but stops are now reported on USD/JPY at 117.60. --
Squared at lowered stop of 118.00 for 100 pips
Xerof
Hi all,
I thought I'd provide an image that might provoke some comment.
I am of the impression that the bounce from CD leg of what appears to be a Gartley in this chart is too steep... suggesting a further retest of the 11700 level before heading North again.
I was previously of the opinion that the $USD had indeed come up against an overiding trendline adn the large crab formation on the daily chart woul see USDJPY decline towards the 113 level in short time - but it looks as though any "true" reversal will be delayed at least another month or until interest rates pause.
I have been reading your posts for some months now and have enjoyed every word.
sulman.
http://img98.imageshack.us/img98/1779/usdjpy6lj.jpg
Welcome Sulman
This is how JPY.USD seems to be shaping up to me......
http://www.khalsaspad.com/files/021206_usd.jpy_107.gif
regards - arco