Eclectic

Quote from Buy1Sell2:

My macroview is that we are entering a multi year Yen rally against the dollar and a multi year bondrally. I am already long Yen futures and will be monitoring closely to get long treasury futures. :)
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Care to elaborate on your macroview......
 
Quote from JSSPMK:

Of course, if JPY closes lower today and weekly bar effects histogram in such a way that it will show a bearish divergence, then would you still treat it as a retracement rather than a bounce/reverse? TY!
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In the bigger picture, the Yen is poised for a long term rally versus the dollar, so right now I doubt that one weekly bar would dissuade my opinion. It would take more. :)
 
Quote from Sponger:

Care to elaborate on your macroview......
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I'm not certain that I can. I am just viewing charts. The long JPY/USD futures position is all that I have on right now.
 
Quote from Buy1Sell2:

In the bigger picture, the Yen is poised for a long term rally versus the dollar, so right now I doubt that one weekly bar would dissuade my opinion. It would take more. :)
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I always miss the bigger picture, I see a bounce today and soon :) Have a look at the 5-15 minute charts, just for fun.

Bounce in USD, not JPY
 
Quote from JSSPMK:

I always miss the bigger picture, I see a bounce today and soon :) Have a look at the 5-15 minute charts, just for fun.

Bounce in USD, not JPY
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Yes. Of course, I am on a way different timeframe and am keeping trading activity to a minimum. The same charting techniques that I use are effective on the intraday charts as well. One of the reasons that I trade the larger picture is so that I have less decisions to make. Each decision that I make has the potential to be a bad one.--I don't really see an obvious bounce on the 15 by the way. :)
 
Quote from Buy1Sell2:

Yes. Of course, I am on a way different timeframe and am keeping trading activity to a minimum. The same charting techniques that I use are effective on the intraday charts as well. One of the reasons that I trade the larger picture is so that I have less decisions to make. Each decision that I make has the potential to be a bad one.--I don't really see an obvious bounce on the 15 by the way. :)
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I am looking at daily spot and there is a rising histogram (USDJPY), not book perfect, yet OK. Divergence range 114.60-114.10
 
Quote from JSSPMK:

I am looking at daily spot and there is a rising histogram (USDJPY), not book perfect, yet OK. Divergence range 114.60-114.10
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Daily chart looks very very bullish for the long JPY/USD in my view. Now it must be remembered that we are looking at the daily chart early in the day and anything could happen. Right now, --very bullish.

Longer term bullish, no matter what today's bar is.
 
Quote from Buy1Sell2:

Daily chart looks very very bullish for the long JPY/USD in my view. Now it must be remembered that we are looking at the daily chart early in the day and anything could happen. Right now, --very bullish.

Longer term bullish, no matter what today's bar is.
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Sorry I wasn't refering to a daily chart, I meant to say daily spot on 15 minute chart.

But since you have mentioned daily looking bullish for JPY, I am posting daily chart of USDJPY, which does look like there might be another dip creating a bullish divergence in histogram (bearish for Yen futures).

If that does take place then weekly chart will also put in a what you normally call a B class divergence, again bullish for USD. But you have already explained your view and you are going with bearish divergence in Yen.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1666684>
 

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Quote from JSSPMK:

I always miss the bigger picture, I see a bounce today and soon :) Have a look at the 5-15 minute charts, just for fun.

Bounce in USD, not JPY
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Poof!
 
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