Short EUR/JPY

Thanks for your feedback guys. The ball seems to go back and forth between bulls and bears. It seems to me that the increasing lows on 3-hour bars are where buyers hiding. If defeated then the short term trend goes down.

I just took 1/2 position off with a 25 -pips profits in area of 157.63 (after the most recent fast drop). May reload if bounce up and fail. If it does not bounce up, I will bite my nails to punish myself for not staying the course with all troops :D

PS: Ivanovich: thanks very much for all the work you are doing (moderating,comments,and all. Great contributions!)
 
Quote from riskfreetrading:

Thanks for your feedback guys. The ball seems to go back and forth between bulls and bears. It seems to me that the increasing lows on 3-hour bars are where buyers hiding. If defeated then the short term trend goes down.

I just took 1/2 position off with a 25 -pips profits in area of 157.63 (after the most recent fast drop). May reload if bounce up and fail.
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Nice trade RFT.
 
Quote from Bigpipn:

What's up niglet?

Your portfolio should be looking good right about now.
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He may have received a call from the bankers asking him not to trade in exchange for a salary and staying at home doing nothing. The guy just picks the pocket of bankers as per the bankers' request and they are glad he does it (until recently) :)

Thanks Bigpipn for the kind comments. BTW: what the letter N in your screen name mean (bigpipN)?
 
Quote from riskfreetrading:

He may have received a call from the bankers asking him not to trade in exchange for a salary and staying at home doing nothing. The guy just picks the pocket of bankers as per the bankers' request and they are glad he does it (until recently) :)

Thanks Bigpipn for the kind comments. BTW: what the letter N in your screen name mean (bigpipN)?
More...

Just expressin' my disinterest for the over-developing Moorish gene currently taking place in the US.

It is a rip off JayZ's Big Pimpin'.

Most of my friends call me Matt.

Except Atticus.

He can be a dick sometimes because I'm slow picking up some basic Algebraic concepts to better grasp Vanilla Ops.
 
I just placed back the 1/2 of EUR/JPY I took off earlier today. Shorted it in area of 157.85. I hope it does not break on the way up.

Addition: the going down was not fast. So I took the 1/2 I placed few moments ago for 10 pips gain. EUR/JPY is now around 157.75. Plan to add it back if it goes up and fail.

Addition2: I just put 1/4 back short at 157.82.
 
Quote from riskfreetrading:

I just placed back the 1/2 of EUR/JPY I took off earlier today. Shorted it in area of 157.85. I hope it does not break on the way up.
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It put in a lower high, you're good. (sorry this is after the fact that youv'e already gained ~15pips lol)
 
Addition3: I just took off the 1/4 of EUR/JPY I placed above for a 22 pips profit (closed at 157.60 or so). We getting close to the line where the bulls will be tested.

Atticus: The equities are green so far. If they stay green by the close, this should be bullish in terms of correlation for EUR/JPY. It is gettting now to a point where I might be in a position where I will not know if the move will be up or down for EUR/JPY at least.

What do you think? Any analysis will be very helpful. I know that you have had a good read on it from the bulls side.

Others: be careful out there. I think it is getting to a point where it would either just sit there or start kicking in either direction, and with the equities up so far, I really do not know what will happen from this point forward particularly if equities stay green and eur/jpy goes down.

In addition, I just flattened the whole thing (the remaining 1/2 short is now gone at 157.53 area). I better have a 40 pips on this and miss a potential move down, than lose some of the 40 pips.
 
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