The View Down River

My projected low posted earlier at 1844 has been exceeded (cash) as everyone can plainly see.

The maximum downside target is 1784. If we touch that level it may be on a spike and nothing more.

Nevertheless, I think the bottom is essentially, in.

I am looking for a spot to get long in here and may wait until the London open. Who needs sleep anyway?

My upside target is still 1.2650 at a minimum.

Good luck to everyone tonight.
 
I am Long the JYM06 (June Contract) just to remind you.

I am keeping my eye on USDJPY spot for my exit signals. Here is what I see coming.

We are at a key hurldle right now at 116.16 area. This has to give way first and it will not be easy. If it does then

Target Area 1 = 114.44
Target Area 2 = 111.68

If this area were to give way then 106.54.

These are some heavy targets. I am going to watch each one. If T2 gives this is major, but first we have to get thru this current area or the view will change drastically.

I will keep you posted on what I am doing with this one.

DRT





Quote from spersky:

Like I posted Friday. My signals have reversed on the Yen. I closed out my short posiiton. Good luck with your long trade in the YEN. I am sure you will do very well. I will be very surpirsed if we do not see the yen take out .8600 easily in this trading session.

Problem with the EURO I would love to go long, I just do not know when the decline will end :)

I guess that is the million dollar question.

DRT, Do you have a profit target for the YEN to the upside?


Regards
Steve
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Good luck BLR. Fine Job on this call.

DRT

Quote from BLR:

My projected low posted earlier at 1844 has been exceeded (cash) as everyone can plainly see.

The maximum downside target is 1784. If we touch that level it may be on a spike and nothing more.

Nevertheless, I think the bottom is essentially, in.

I am looking for a spot to get long in here and may wait until the London open. Who needs sleep anyway?

My upside target is still 1.2650 at a minimum.

Good luck to everyone tonight.
More...
 
The break of the EURUSD down trend line from January 25 (which occurred Feb. 17), combined with a failure now to re-establish the down trend would bode well for longs IMO.

My reading on this is that, if price breaks back above the 1.1864 level (futures), price will have failed to sustain the trend downward (at least for now), and we should see a return to the previous range (app. 1.1864 - 1.1973) in the near term.

On the other hand, should the 1.1864 level now provide sufficient resistance to turn price back downward, I would expect a significant move down from that point.
 
One thing on this JPY trade that has me puzzled is that my studies tell me that next week is going to be a major change. I don't know if we will head down to the 114 area this week and reverse or head back up this week and reverse next.

There.... clear as mud.

Quote from downrivertrader:

I am Long the JYM06 (June Contract) just to remind you.

I am keeping my eye on USDJPY spot for my exit signals. Here is what I see coming.

We are at a key hurldle right now at 116.16 area. This has to give way first and it will not be easy. If it does then

Target Area 1 = 114.44
Target Area 2 = 111.68

If this area were to give way then 106.54.

These are some heavy targets. I am going to watch each one. If T2 gives this is major, but first we have to get thru this current area or the view will change drastically.

I will keep you posted on what I am doing with this one.

DRT
More...
 
Quote from lorenzo-vi-:

thank you BLR.
moved the stop @1894 and the profit @1770.
if it continue to goes down with this momentum i'll look forward to have an opportunity to enter short with another half position on the pull back @1850, but it's too early for these considerations at the moment ...
ciao;)
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out @18769. i've preferred to cash in. now i'm flat.
in the next few hours i would like to re-enter short if it breaks down 1857 again or go long above 1890-1900 ...
ciao;)
 
Quote from lorenzo-vi-:

out @18769. i've preferred to cash in. now i'm flat.
in the next few hours i would like to re-enter short if it breaks down 1857 again or go long above 1890-1900 ...
ciao;)
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very bad exit point, just a pip below the highs ... i'm trying to understand why in the last few weeks i've become so bad looking for the hi-lo levels in the short term charts!
however, i'm going out to work for about a couple of hours and given that i'm still a little puzzled i don't wanna send any order.
if i'll miss this movement i'll wait for the next one :)
ciao;)
 
Quote from lorenzo-vi-:

very bad exit point, just a pip below the highs ... i'm trying to understand why in the last few weeks i've become so bad looking for the hi-lo levels in the short term charts!
however, i'm going out to work for about a couple of hours and given that i'm still a little puzzled i don't wanna send any order.
if i'll miss this movement i'll wait for the next one :)
ciao;)
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My short term chart shows a lower low at 1.1835 followed by a lower high at 1.1896 and now a HIGHER low at 1.1847. So this next oscillation moves price above 1.1896 or we consolidate for a while.

Time will tell - good trading to everyone.
 
Quote from HoustonMark:

My short term chart shows a lower low at 1.1835 followed by a lower high at 1.1896 and now a HIGHER low at 1.1847. So this next oscillation moves price above 1.1896 or we consolidate for a while.

Time will tell - good trading to everyone.
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i agree, in fact i'm still waiting for some more information: buyers and sellers seems equal in strenght at the moment ...
ciao;)
 
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