USDJPY - stay alert - for poss. reversal

[deadbroke]

Quote from deadbroke:

Done! Take short profits. Position closed. Go to sidelines.

A good run but not happy with the early exit.

I see my mistake and understand it. Lesson learned! Done!

No position now.

 

[deadbroke]

So my current thinking, august 25th is ......

Stay SHORT unless current trigger level @ close > 86.209 is hit. This is a 4H frame analysis. If a better trigger comes up on 4H, I'll mention it. 1H is being ignored.

 

[deadbroke]

Quote from deadbroke:

So my current thinking, august 25th is ......

Stay SHORT unless current trigger level @ close > 86.209 is hit. This is a 4H frame analysis. If a better trigger comes up on 4H, I'll mention it. 1H is being ignored.

Nice power move north. Daily downtrendline taken out. I wait for the trigger in quote above and evaluate then. This is a Daily/4H frame analysis.

 

[deadbroke]

Will be absent for a while, possibly a few weeks.

 

[deadbroke]

USDJPY thread's reversal rally could get underway if lower aggressive trendline is taken out.

But we also need the upper line taken out @ > 86.32




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[deadbroke]

Quote from deadbroke:

USDJPY thread's reversal rally could get underway if lower aggressive trendline is taken out.

But we also need the upper line taken out @ > 86.32




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looks like she be waking up




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[deadbroke]

Quote from deadbroke:

CNBC is abuzz with talk about a 15-yr low for USD versus Yen.
And they are saying some other entertaining stuff too, as usual.

--------------------------------------------

Short is the way to be But here's what I'd like to tell you ...

There appears to be a full 5 waves down on Weekly. This means an A-B-C upward correction to at least 38.2% retracement of the drop from June 17, 2007 is likely.

And under the hood, quietly in the background, USDJPY has just arrived at Fib extension 261.8%, a known criminal support level.

A 4H close > 86.127 might start a countertrend significant rally. So be alert to close your short and go Long.

>>>>> And under the hood, quietly in the background, USDJPY has just arrived at Fib extension 261.8%, a known criminal support level. <<<<<

There is of course a superior criminal level and that is 423.6%. We gots a perfect hit. Let's see if it holds?



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[deadbroke]

If USDJPY

4H close > 85.6 .... go Long & hold for weeks

4H close > 86.0 .... add to Long & hold for weeks

(try to break the 6/day premature ejaculation bad habit)


prelim. targets ..... .... 99 and 109

 

[deadbroke]

UsdJpy Long order @ 83.728 STOP = 83.000 TP=N/A

30 seconds ago.

 

[MarkB]

Approaching downside initial target from a large weekly Gartley resistance pattern. Dangerous imho to take longs before that target is met since it's likely to pull price to that point. Any bounce is more likely to be just another corrective move in the context of the downtrend at least until then.