USD.JPY

[Sulman]

Xerof,
Thanks for the link to livecharts.

I've never heard of fib support levels used in this manner. I watch the usual Pivot and Resistance/Support levels.
And it now seems like yet another level of complexity has beeen added to the mix.

I'm already using MT4. There's no automation of these functions that I have found. MQL4 Language is beyond my scope of expertise if that's required.

Again, thanks for the link.
Regards, Sulman

[arco]

Hi All

Referring to original chart previous page - Posted - 13/02/2006

Update

The action has entered the first target box for a maximum circa 350 pips so far.

GTA - arco

[slam]

Well done arco
Got some of those 350 pips but not as many as I would like
Still holding shorts

Cheers
Slam

[peat]

I shorted this x 3 from its March 14th highs of 119, and still have one left tho am thinking it will retrace somewhat before continuing.
Will start adding more again as it approaches 117.

[peat]

so in the reasonably big picture this is forming a perfect triangle flaggy pendant thing from Dec condensing over the last few months from 121 at the top to 114 at the bottom and now squeezing itself tighter around the 118 level suggesting that any breakout about 119 ish (maybe 119.50) would be a continuation of the strong trend we saw in the months of Sept-Dec last year.
My thinking is the yen should be getting stronger but technically the evidence is starting (tho not conclusive yet) to look otherwise.

Any comments?

[arco]

Hi Peat

Yes, the action is coiling up ready for a break out.

There is quite a bit of resistance overhead at circa 11875 which is a Gann number. So, until that area has resolved itself I prefer to stay on the sidelines with this pair.

regards - arco

[peat]

i'm getting impatient !! this hasta bust soon

[arco]

Hi Peat

JPY is already in play with the first target being entered on yesterdays EOD candle.




regards - arco

[peat]

yup would seem that way. heheh all that tension and build up and I was out Friday nite drinking when it happened lol. thats forex living in NZ for ya.
well i will interpret this as a break out and start selling from now , and more into any retracements.
(still playin demo tho - its all just for the challenge these days)

[arco]

Second target hit already [8D]



GTA - arco