Still looking to short this mofo. I think the move still has a lot left in it. This view can change very quickly depending on the market, but I have already been making good $$$ tonight shorting this beast. Anyone else up trading this bad boy? Figured I'd start a thread for discussion for anyone interested. Worried we may see some BOJ intervention in the near future, but we'll cross that bridge when we get there.
I'm contrarian, I'm buying the dips just to be different Not Eur/Jpy though, Usd/Jpy....I think they'll be a BOJ line in the sand soon, they'll only stand so much speculation and disorder. Aud is another one worth watching, they're also intervening. ~
Ha ha gotcha man. Good trading. Feel free to drop any comments about any of the pairs or whatever the hell you feel like typing. I get bored staying up all night trading. ha ha If we can get an accepted breakdown below 115.40 it's gonna get ugly. EDIT: Looks like we've broken down below 115.4, nothing insane yet, but that was a balance area limit...seems to be hung up on 115.0 right now...let's see what happens.
I did some EURUSD and EURJPY trades during the night - but it was a mixed bag... and I gave back and then some at the European open, so with -112pips for the day so far. I even did some short scalps which went well, but that was before it really started tanking. The only bad thing was the short ranges. I'm not good at trading the mayhem right now - but get by with the little safer conditions.
Yeah on e/j there has been some solid downside action but there have been lots of quick retracements to the upside. I have given back a ton of pips tonight...still up for the night, but damn I've given a lot back with this mixed action. I think the Euro is fucked. That sounds like a good trade to me, provided you give it a little wiggle room. Good luck.
According to Japanese PM Taro Aso - it will take some time for measures to take effect. I think it's unlikely the BoJ will act alone, and now Gernot Nerb (head of IFO industry research department) say that the lower Euro is good for exporters ... oh, well.
I started this trade Friday morning, around 5:30 am eastern time. I was half-asleep. I would never have stayed in that trade on a full size lot. I am still trading 100 units, I put in a huge stop. Completely foolhardy. Not the way I'm comfortable trading, but the news I gathered on Friday led me to keep trade open. I've tightened the stops,looks like I'll be taken out soon. 5:33 stopped at 1.2397 117 pips.