10.4 A Complete System

[spillini]

Lots of garbage going on in the U.S. today. Bombings at the Boston Marathon, and more of that North Korea suicide tactics.

[kwanann]

It is amazing how some little 0.01 trades can add up.

Chris, take a look at gold today.

Then imagine what that 0.01 lot would have cost you if you were taking the wrong direction

[jmdias]

I dont know, but after Cyprus sayed they will sell gold to catch some money the gold dont stop to fall...
coincidence..i dont believe..

[Gertje]

The rest is just greed.

Mike

Agree, greed cost me my account today. Managed to make it 2,5 the startbalance with 10.4, so need to stick to the rules and don't try to make a killing in one day.
.

[Chris]

It is amazing how some little 0.01 trades can add up.

Chris, take a look at gold today.

Then imagine what that 0.01 lot would have cost you if you were taking the wrong direction

I've given my money to gold in the past, I used to trade futures and I lost over 5000 in a matter of minutes. So now I have reduced to something that is a little more manageable, but it is still impressive how these little trades can add up. Unfortunately for me it has been in the wrong direction today as well.

[nanningbob]

I appreciate the comments but people are selling gold and buying the JPY. Explain that to me. That makes absolutely no sense what so ever. Yes I can understand a correction but this is no correction. aud nzd going down makes some sense but bottom dropping out like this?? China numbers werent that bad 7.7 growth instead of 8.0 is not that bad. I have no idea what is going on here. The good news I guess will be when do we get to play JPY weakness again?

As a fundamental player, this makes sense.

As of last week, which instrument is a good hedge against inflation?
Yen.

Which instrument was a good hedge against inflation?
Gold

So if Funds are reevaluating their investments, what would be the most obvious choice to make?

I know you are trying to explain this to me but buying JPY and selling gold makes no sense to me. Unless the big boys are trying to crush everyone that was selling JPY and buying gold on margin. That makes sense. Once they are done then its back to business as usual. Low lot size and low margin guys like me can survive that junk.

[garyfritz]

I agree Bob, it's crazy. I gotta think it's a panic overreaction or a pound-down by the big boys. I suspect we'll see a significant snap-back once the panic or pound passes. It just doesn't make sense for the JPY to be gaining like this.

[Chris]

Looks like the S&P futures and the DOW are still heading south after the close, probably due to the Explosions

[fx800]

I wouldn't be betting against this Shooting Star (Pin bar) on USDYEN weekly. I think the 100 level had been rejected here...

More fall expected in USDJPY when the market opens. Support at 96.75. I will be looking for buy signals from there.

USDJPY at 96.75, will the support hold ?

Dow Jones plunging over 250 points contributing to yen buying.

More pain to come ?

[mjws00]

Also pretty classic risk on scenario. That just happens to coincide nicely with a tightly wound band in Yen. US markets sold HARD today. If you think things are going to hell. Buy USD, JPY, CHF normally XAU.

Difference is Gold was already selling and trending down, so they aren't stepping in to buy it yet.

I just like chatting about it, don't consider myself an expert by any means. Just watch how things are correlated so I can trade them technically better, and try and keep an eye on Macro so I don't get surprised.

Guys we haven't even cleared the 4H 200 ema on Yen corrections. Zoom out to daily and weekly. Daily paused/bounced at 50% retrace. Weekly is still insanely overbought. Big money fades these vertical moves. The options, funds, and HFT guys, are in heaven (a few in hell.)

Could be a fantastic week for trading. It can bounce just as hard

I'm lovin it. Nothing worse to me than sitting while it churns. Run baby run. Green pips to all.

Mike