Fading Yen - It has gone parabolic

This is interesting.

Mav is right. This is NOT parabolic. There is some possibility that we could see a little pullback for a scalp on intraday. But, to me it looks likes the upside is just getting ready.

If this thing gives me a chance, I want in on a pullback.

 

A move like this can easily produce a 5%+ correction, well within my scope of 'tradeable moves' - but certainly not a scalp.
Especially if usd decides to weaken at the same time as a jpy correction.

As to numbers, how far this way/that way - that's an indulgence that belongs in a tarot reading.

Though looking at those longterm charts, 100 looks interesting if it coincides with a turn.

Will be short when its short, and long when its long.
If no long jpy moves appear, ill remain short.
Simples.

 

..

 

That looks like a real healthy chart.

 

I would be careful of trying to over think this stuff. The market is going to do whatever it's going to do. It's best to take a quantitative approach. Usually the biggest moves come when price is going against the prevailing fundamental thinking.

 

The move from 250 followed a huge triple top/h&s. I don't see anything here like that.

 

I think a logaritmic chart would be more appropriate for a currency that changed so much.Can someone post the same chart in a logarithmic scale?

 

So, we managed to get one more scale-in (we were quite lucky as bid-ask on my IB account was 90.25-90.255) and my sell order got through.

So, 0.5% risk on the trade now.

 

Cool. Are you sticking to your original plan (scale in to 94, stop 96, target 88) ?

 

I am bidding 0.25% risk at 88 and other 0.25% risk somewhere below 88, if yen takes out 88 (and especially 87), then 'fade to the parabolic setup' will be over for the time being, as we would have seen a 4% correction.