martog:

This pair is at a major support level, and this dates back to May, 1995. On the weekly chart, we have 2 back-to-back reversal candles, and on the daily chart, we have had multiple reversal candles. My take on this is that I remain flat, till I see momentum on the long side.

My 50kobo ,according to Kashif  

Ok bro, i am looking to long too.

paulo1234:

I do not think is time to buy UJ until the resistance to the up side is broken. Yen has been proven to be strong trend on weekly, monthly, daily charts. For me I do not buy pin bars against the trend. The trend is your friend.

Best Trading.

Which trend are you talking about? UJ has not gone down more than 83.80 for weeks now, how is that a down trend? i see it breaking back up, UJ needs to break 84.85 to return back to the long trend, the short trend is actually not strong enough, 83.70 is just too strong to be broken by the down trend.

honeric01:

Which trend are you talking about? UJ has not gone down more than 83.80 for weeks now, how is that a down trend? i see it breaking back up, UJ needs to break 84.85 to return back to the long trend, the short trend is actually not strong enough, 83.70 is just too strong to be broken by the down trend.

Bro you are correct but not all. It will be too early for you to buy else money may be wasted. You must have enough weight of evidence that the support will hold. For me it not enough yet things may break down. Check your chart everybody has been trading yen strong for the past many months. How can I decided I know the turn

Thanks

paulo1234:

Bro you are correct but not all. It will be too early for you to buy else money may be wasted. You must have enough weight of evidence that the support will hold. For me it not enough yet things may break down. Check your chart everybody has been trading yen strong for the past many months. How can I decided I know the turn

Thanks

hehehehe, I never said you should buy or that i am buying now, i said the trend favors buy, with the way the market is moving, i am looking into entering a long position around 84.00/83.80/90, with sl at 83.60/40 area, targeting 84.85 as 1st TP, 2nd tp at 85.40, 3rd tp at 86.00

@honeric, when paulo said "the trend is your friend", I think he was referring to the common saying in trading, not specifically referring to UJ. His thoughts were spot on.

UJ has been in a sustained downtrend from 92.80 so, you are not currently sure (though this is most likely) that it would reverse. For me, this pair is not attractive now even though it could be seen shedding more two hundred pips before looking up. Since it failed to reverse when I expected, I would wait for a pullback and then sell, if that is the best opportunity I find.

Remember - the more it heads down, the more the likelihood of an intervention from BOJ.

Kashif:

@honeric, when paulo said "the trend is your friend", I think he was referring to the common saying in trading, not specifically referring to UJ. His thoughts were spot on.

UJ has been in a sustained downtrend from 92.80 so, you are not currently sure (though this is most likely) that it would reverse. For me, this pair is not attractive now even though it could be seen shedding more two hundred pips before looking up. Since it failed to reverse when I expected, I would wait for a pullback and then sell, if that is the best opportunity I find.

Remember - the more it heads down, the more the likelihood of an intervention from BOJ.

Yes bro, UJ's been down so far, but i think it has almost reached its bottom, selling might be a bad option for now because there are indications that UJ may likely head back up (at least to 86.xx/88.xx). though it's not that lucrative, but it's also not that dangerous.

honeric01:

Yes bro, UJ's been down so far, but i think it has almost reached its bottom, selling might be a bad option for now because there are indications that UJ may likely head back up (at least to 86.xx/88.xx). though it's not that lucrative, but it's also not that dangerous.

You see UJ as broken a bit lower. At least 30 pips away from yesterday point. I am looking for another opportunity.

Thanks

paulo1234:

You see UJ as broken a bit lower. At least 30 pips away from yesterday point. I am looking for another opportunity.

Thanks

It has not broken bro, it has to break 83.45 before you can think of shorting more, for now, it has not really gone past the normal rally price range for weeks now.

Watch this space "83.70 is just too strong to be broken by the down trend, it needs to break before you can continue the down trend"

@ Paulo1234 and @ honeric01, You guys dont need to argue who is right or wrong. Just trade what you see on your chart, and let price prove you right or otherwise,

what an interesting morning we have, USD is kind of strong against d commodity currencies,

Martog,

Aurgment ! far from me. As I am posting and see others doing, I am learning. The moment i see argument I will withdraw. I have learnt to accommodate people. It is just a discussion for the purpose of mutual benefit.

Currently I am in two trades short of Eurjpy and I reverse my postion on EuroGBP by short selling. EuroGBP break back.

Best Trading

martog:

@ Paulo1234 and @ honeric01, You guys dont need to argue who is right or wrong. Just trade what you see on your chart, and let price prove you right or otherwise,

nah bro, we are only rubbing minds oo, nothing like argument, looking at which price is best to watch.

bro, abeg come yim make we yarn, the guy show up this morning and we talked for length.

Whatz up, people?

A beautiful bearish FLAG on EUR/USD 1H Chart. Down trend confirmed on 4H and Daily Charts.

In the long run, EU still got potentials for 1.24/1.22 this month.

honeric01:

In the long run, EU still got potentials for 1.24/1.22 this month.

This is as possible as it is impossible.

^^

Very funny, well long term traders are still in the race for 1.12xx on eu this year, so don't be surprised if you see EU head down that part, though 1.35xx is also in view.

Maybe you did not understand my post. I meant that it could happen, and it could not happen. I have learned not to be subjectively attached to trends. When you think a reversal is impossible with the assumed market sentiment, you could be taken out.

I try to be as objective as possible.

^^^^

Nah bro, i understood you perfectly and also in agreement, was just funny the way you put it hehehehe

Where is everybody? How is trading after the BOJ intervention? What's in there for JPY crosses?

US Dollar is in trouble.

The action of BOJ was a big shock, a very profitable trade Euro/cad made a sudden U turn still watching on traders reactions. Thanks to stop loss. Anyway I am on the side line on JPY cross currency now. Currently buy AUD and selling Eur/GBP . Profit is running.

Hello Friends,

These are free alerts for you all.

(*)BONUS SIGNAL":GBP/CHF BUY STOP AT 15719 TP AT 15846 SL AT 15500
EURO/USD:BUY AT 12960 SL AT 12800 TP AT 13200


Have a pippsfull day

@Toks2008

Long time. Happy to see you back.

Thanks Jamace,

I actually stayed off Nairaland due to the zero tolerance on forex matters for reasons best known to the owner.

I have been rendering my service to many traders all over the world in my own little way. I just decided to check Nairaland yesterday and i noticed that Seun might have mellowed his sledge hammer a bit on forex matters.

This is my second business and it will be very sad for me to remain on a forum where the owner called me a sucker as a forex trader so this was why i actually left nairaland. I just decided to send some free signals here and i am not sure if seun will still allow frelance posting on forex matters.

So i hope to drop a few hints here from time to time.

Hope you all are having a profitable carrier in fx trading. REMEMBER:Only good money management can save you so manage your money well.

Have a nice day.

Toks2008:

Hello Friends,

These are free alerts for you all.

(*)BONUS SIGNAL":GBP/CHF BUY STOP AT 15719 TP AT 15846 SL AT 15500
EURO/USD:BUY AT 12960 SL AT 12800 TP AT 13200


Have a pippsfull day

(*)BONUS SIGNAL":GBP/CHF BUY STOP AT 15719 TP AT 15846 SL AT 15500 we just made 127pips on this


EURO/USD:BUY AT 12960 SL AT 12800 TP AT 13200 and we are over 200pips on this and still moving up

hi
I agree with toks.

Best regards

HI,

Can anybody in his kindness do analysis of GBP/CHF ? I fell it now time to sell.

happy weekend.

Hello,
Gbp/chf has come down a little,but hasn't completed the journey northwards.Its still going to journey up possibly reaching the 1.6106 area.Other possible targets are 1.6120 and 1.6216. Trade with caution.

Best regards



jeudick

You are right. I sold last evening but discovered I was too early because I was stopped out early in the morning. Too bad I was stopped out before the price moved in my supposed direction.

As I type this though, it could be running out of steam on the down side.

Jeudick:

Hello,
Gbp/chf has come down a little,but hasn't completed the journey northwards.Its still going to journey up possibly reaching the 1.6106 area.Other possible targets are 1.6120 and 1.6216. Trade with caution.

Best regards



jeudick

I could not figure out how you arrived at your targets

Hi,
But should the price breaks down and close below 1.5777,then I see it journeying south!Trade with caution.

Best regards.




jeudick