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USD/JPY First Quarter

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Posted: #601
I like USD/JPY to close out the week around 102.98 

I am short at 103.35 

Stop is a new high @ 103.76

I think the longs will taper out of the position around lunch and it will be flat going into the weekend. 

close to 1:1 Risk to reward, and that is not common for me. 

I expect to be flat by 2 this afternoon.
 
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Posted: #602
ended up +6 before I got out for the weekend.

I really thought it would drop more.  I am betting there will be  a big gap down on Sunday, but I am not taking the risk. 

Have a bachelor's party in DC on Sat, and meetings Sunday night, and monday morning. 

Enjoy your weekend guys.  I will probably be a ghost for a few days. 
 
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Posted: #603
Long USD/JPY @ 102.26
 
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Posted: #604
make that 103.26
 
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Posted: #605
hey Rick you know there is big news coming out .. and it is running before news , and that is usally not good for a long position, this could drop off the table
 
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Posted: #606
fell off the table.. just saying ... 
 
Covers Linesmen
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Posted: #607
I dont see that it fell off the table? Its right at where he went long.

The US/Yen has been ULTRA strong the last 4 sessions. Why I have no idea but it has been.
 
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Posted: #608
I am tracking new jobs + oil inventories for USD (not Earth moving) and PMI from Japan tonight (which I will be out for).

Are the news you are reffering to the press conference?

It was filled with a whos who of the inflationary cheerleaders.

They are literally Abe's cheering squad.

 
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Posted: #609
Now this, is falling off the table.
 
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Posted: #610
I did something I rarely do, and averaged down at 102.98 I will be positive if it gets to 103.15 ish. 




 
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Posted: #611
Quote Originally Posted by rick3117:

Now this, is falling off the table.

Yeah I noticed that too..also read that ZH message about how HFT zombies are locking in the Forex market..so cracks like this are bound to happen for sure.

I seriously do not see how the USD is so strong plus the US markets are so high given what is going on in the emerging markets and politically.


 
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Posted: #612
You have to admit that demand in China is driving a lot of the world's markets.

That is the fundamental fly in the ointment that makes a lot of this make sense.
 
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Posted: #613
Quote Originally Posted by rick3117:

You have to admit that demand in China is driving a lot of the world's markets.

That is the fundamental fly in the ointment that makes a lot of this make sense.

Demand in China is fabricated IMO..I think their growth numbers are phony and they are sitting on a massive bubble that the government is hiding...even more than we can imagine.
 
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Posted: #614
I am pretty imaginative. 

When you look at how China #s move Australia, NZD and Japan it is scary to see the amount of obfuscation. 
The entire world is now wrapped up in China's success.  Talk about too big to fail!

It is the same huberus that has been seen in every bubble ever.  Same as the idea that Home prices only go up. 

 
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Posted: #615
This has been one nut grabber of a trade.
I think I am kind of cornered into a bet against Japan's manufacturing etc.

I hate hokding through news, and should probably cut my losses......
 
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Posted: #616
I felt like crap taking a 22 pip loss getting out @103.03 until I woke up and saw what hapoened overnight.

 
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Posted: #617
Back long @102.76
 
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Posted: #618
Wall where did you add on LB/Jpy? Are you out too?
I didnt get the price I wanted on my add but it was good enough..out of LB/Jpy
didnt add to EU/JPY wanted 144..
 
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Posted: #619
Quote Originally Posted by bucknuts:

Wall where did you add on LB/Jpy? Are you out too?
I didnt get the price I wanted on my add but it was good enough..out of LB/Jpy
didnt add to EU/JPY wanted 144..

I didnt get my last add..which was 173.50 so my last was at 171.96

I am still in, got a long ways to go but I am not going to bail yet.

Days like today are not making it easy..good ole US market ramping from morning lows like every single day makes risk on turn up...

 
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Posted: #620
Still riding that long, pretty crappy trade. 

Not getting bailed out by Tokyo when the price is over 102
 
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Posted: #621
Big jump in the EU and LB...dont see anything of news about it.


 
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Posted: #622
A little bit of risk off today, but still in the big realm of things it is nothing to write home about...

Lets see how they close it up, if they sell risk and move the markets higher.
 
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Posted: #623
Back long at 101.79

looking for 102 to cover some of the losses I have taken this week.

-56 pips this week. 

not too good.
 
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Posted: #624
I can tell I am chasing when I drop down to 5 min to look for crosses and trend reversals for entry. 
 
 
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Posted: #625
Wowzers Drahgi calling a hard line at 140 

Sent EUR reeling.

I wish I had been trading today and caught that one.
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