E/y Opportunity..

[Hook Shot]

Oops I did it again............ I wonder how she is - out of the news for a change!

EuroYen falling over........ 100 target already hit

I really want a turnaround in next 24hr to unload over 157.00 may not get it though - hope spring eternal.

Not as sexy as Cable but steady ... :cheesy:

 

[Hook Shot]

We eventually got the second bite of the cherry with a move to 157.66 and now ..... I think we're on overtime....

This move could be 150pips plus......... i.e 156 or below.......

This kindov mirrors the us indices........... with minicrash then rebound.... interesting to watch how they both fare today.

 

[Hook Shot]

http://www.futuresource.com/charts/charts.jsp?s=EUJYY&o=&a=V:60&z=650x450&d=MEDIUM&b=bar&st=

The week sort of went to plan... we did get more sell off to 15630ish. (almost 15600)....off the 15766 high.

Lovely clean wave pattern continued this week although the last move to new rally highs at 15800 zone caught me a bit by surprise. ... Then it faded and fellover........falling 250 pts or so... :cheesy:

EuroYen now rallying back towards 15800 zone and should be another nice short again ......
so we can expect another 150 pt sell off when it happens... we'll see

Plan is still to short the rallies ....... I'm only half-heartedly buying the dips..

 

[Chocolate]

I'm short at 157, but my hunch is that it will rise again tonight. So I guess I really ought to get out, hmmm...

Hook Shot, having seen on your chart how it's motored up to present levels perhaps it's about time for a reversal now. edit: I'm out expecting/hoping for some boring consolidation before it falls again.

 

[rav700]

http://www.futuresource.com/charts/charts.jsp?s=EUJYY&o=&a=V:60&z=650x450&d=MEDIUM&b=bar&st=

The week sort of went to plan... we did get more sell off to 15630ish. (almost 15600)....off the 15766 high.

Lovely clean wave pattern continued this week although the last move to new rally highs at 15800 zone caught me a bit by surprise. ... Then it faded and fellover........falling 250 pts or so... :cheesy:

EuroYen now rallying back towards 15800 zone and should be another nice short again ......
so we can expect another 150 pt sell off when it happens... we'll see

Plan is still to short the rallies ....... I'm only half-heartedly buying the dips..

We have similar thoughts........I just posted the same on the forex thread.................

How great minds think alike :idea: :idea: :idea:

Best of luck mate

 

[rav700]

I'm short at 157, but my hunch is that it will rise again tonight. So I guess I really ought to get out, hmmm...

Hook Shot, having seen on your chart how it's motored up to present levels perhaps it's about time for a reversal now. edit: I'm out expecting/hoping for some boring consolidation before it falls again.

There is a lot of news out but I am short as well @ 157.33 :cheesy:
I am expecting a lil retracment..... :cheesy:

 

[rav700]

I'm short at 157, but my hunch is that it will rise again tonight. So I guess I really ought to get out, hmmm...

Hook Shot, having seen on your chart how it's motored up to present levels perhaps it's about time for a reversal now. edit: I'm out expecting/hoping for some boring consolidation before it falls again.

A cross here cold take us down to your entry my friend ie cross @ 20

 

[Chocolate]

That should have read "I'm out, expecting consolidation before it falls again". Sorry if the missing comma caused confusion. I'm basically confused it bounced so hard...157 was the perfect point for it to turn down whereas now we're back where we started a few days ago.

I take it a cross like a resistance point which if broken the market kicks on quite a bit past?

 

[rav700]

There is a lot of news out but I am short as well @ 157.33 :cheesy:
I am expecting a lil retracment..... :cheesy:

+33 pips on awakening in the morning....

I hope you didnt get stopped out choclate:cheesy:

 

[Hook Shot]

Golly gosh action on the thread......... probably cos ozzie, euro and cable are in consolidation and yen crosses are the only ones moving......??

Chocolate - seems to want 158.00 again and with all the data out in afternoon who knows - what next.

Rav - shame about the ozzie just kidding....yep we do think alike ... uncanny........

There is a chance here we exceed 158.00 perhaps on spike so that's what I'm focusing on... anywhere over 157.50 is interesting...... but whilst I WAIT I'll tickle it's tummy with you guys......

Good so see you

 

[Hook Shot]

Decision Time

http://www.futuresource.com/charts/charts.jsp?s=EUJYY&o=&a=V:60&z=650x450&d=MEDIUM&b=bar&st=

Yep we now know it wasn't abc rally but the 5th wave to new rally highs..plus a bit.
We're now @ the All Time Highs - the level we hit before the 900pt slider - Feb/Mar.

I want more rally but ........... this is looking really juicy in the coming week -
The higher the better... The subsequent break to marginal new highs or extended move whenever it arrives should be easy test of 159.50/70 MIN!

Very low risk trade opp (IMO) and we won't have to wait too long

Summary
(1) Either we respect the old high and give a pullback - magnitude unclear - false break would be nice.
or (2) We get extended move through 160 - making an even better trade for pbk to test 159.50/70 - old highs....

Best viewed on daily chart - medium or low resolution - perhaps

I like this pair I just need a bit more patience somethimes

 

[Chocolate]

I'm short on this pair from 159. No way we're going through 160 for more than a few minutes is my opinion, so my stops are well protected by the big figure. Target 154.

 

[Hook Shot]

I'm short on this pair from 159. No way we're going through 160 for more than a few minutes is my opinion, so my stops are well protected by the big figure. Target 154.

Driving through 160 would be a bit of a surprise to be honest but we'll see.......

154!!!! Punchy or what i'll settle for 158 and maybe bit below 156 if I'm lucky :cheesy:

Having said that once it starts going down and we've broken even - why on earth not ?

 

[Chocolate]

Ok, I got in way too early but still holding short...my ideal exit would have been Tuesday early morning waiting for a better price and I might well have got out then if I'd been up at 3am, but I wasn't. I would SO much rather be short from present prices, but that's life!

 

[Hook Shot]

Ok, I got in way too early but still holding short...my ideal exit would have been Tuesday early morning waiting for a better price and I might well have got out then if I'd been up at 3am, but I wasn't. I would SO much rather be short from present prices, but that's life!

Stuff happens .... but time is running out for the move I thought I saw .. :cheesy:

 

[jacinto]

where's your stop, Chocolate? hope you get a decent retracement for an exit.

To be honest, I now dont know if it will just keep on going. thought 160.00 to 160.50 would be the reversal level, but now I am confused.

j

 

[Chocolate]

My sentiment at the moment is JPY > CAD > USD > EUR,GBP,AUD. But you're right this thing could go up to 162 odd and stop me out unless I move my stop further away and I'm probably in a bit too heavy given the rubbish price....but I do think we are going down in the long term actually a lot further down than 154 - to me EUR/USD and USD/JPY both look like they're at their tops. Then again I've been a yen bull for over a year and it has not been a very profitable point of view.

P.S. I also think gold should go down in the next few months, so maybe I should be used as a contrarian indicator. :^)

P.P.S. What makes you favour 160-160.50 not being a reversal area?

 

[jacinto]

actually, the breakout daily bar of multi year highs, and todays bar.

on the other hand, EURCHF is also making multiyear highs, and under similar conditions.

for your sake, hope Im wrong.

j

 

[Chocolate]

We're still below '98 prices! My very subjective analysis of the chart which I've just done tells me that we might be going up into Tuesday before the substantial fall that I was looking for.

So I could get out on a retracement and wait for that, but I'm not sure I trust it that much.

 

[jacinto]

yep, im aware its below 98 prices. anyway, good luck. i will definitely keep an eye on reversal patterns from this level onwards. you may be very right and the fall may come sooner than expected.

j