Comments on: USD/JPY: I’m staying cautiously bearish

By: Sean Lee

Sean Lee — Wed, 18 Sep 2013 20:25:32 +0000

Definitely Rhona, I very seldom wait for nthe exact level, 10 pips is close enough unless you are a day-trader when you need to be more precise

By: Rhona

Rhona — Wed, 18 Sep 2013 18:55:20 +0000

U did say short the $/J at 99.40 but it didn’t reach it…
Maybe one should b 10 pips off up/or dwn to b conservative and not miss a trade? Like jump in at 99.20/25?

Thank u
R

By: Sean Lee

Sean Lee — Wed, 18 Sep 2013 08:15:31 +0000

Good luck Rahul, I have a feeling you may be right

By: rahul

rahul — Wed, 18 Sep 2013 06:40:19 +0000

But if theres one call i can make with a lot of assurance..its short DJIA. at around these levels.

By: rahul

rahul — Wed, 18 Sep 2013 06:18:42 +0000

Hi sean, i have a theory regarding the markets. Its somewhat similar to the t theory followed by marty schwartz but i didnt know that before and neither do i know it clearly now.
Markets have equal time phases with consolidation and trending and we have come to the end of the consolidation phase on the EUR/USD. USD/JPY and GBP/USD.
FOr ex, the usd jpy. if you draw a zone from 99-98.50 and look back for the last 6 months. it has oscilated EXACTLY onto either side with a decreasing amplitude. and it has come almost to a standstill exactly there. no fancy math just take a calc and divide the extremes of each swing by two. and now at the end of this phase we have arrived at the point of value decided by the markets and v shud enter this new phase WITH NO BIAS.the market is going to accept a fresh critical catalyst and trend in the coming phase no matter WHAT. so im going to hold back for a time. till the end of the day maybe. because whatever happens all these pairs are going to travel atleast 500-600 pips to their next mean value. (usd jpy =98.50/99.00 eur/usd=1.3460/1.350…etc.)
best of luck to everyone.dont blow out

By: Sean Lee

Sean Lee — Wed, 18 Sep 2013 05:02:40 +0000

Good luck Serga, can’t say I agree but we have a market 🙂

By: SergaNet

SergaNet — Wed, 18 Sep 2013 04:55:44 +0000

Hi, Sean! I started selling kiwi, from 0.8242 and to 0.8400, work from sales. Stop 0.8450, target 0.70. This one of my long-term transactions. Also in the sale looks pound. Target pound district 1.5140. Good luck to you, Sean!

By: fxgai

fxgai — Wed, 18 Sep 2013 04:38:15 +0000

Near term USD does seem a little fragile.
Longer term, I can’t get excited about the yen. One chap in this article suggests that even if Japan turned back on all it’s nuke power plants it would still be running a trade deficit:
http://www.japantoday.com/category/politics/view/japan-faces-record-long-trade-deficit-with-few-signs-it-can-reverse-trend
Not sure if his analysis is correct, but hey, looks like yen selling pressures aren’t going away. Of course it’s always a problem finding another currency that looks worth buying. As of today NZD, GBP look the pick of the crop to me.

By: Sean Lee

Sean Lee — Wed, 18 Sep 2013 01:16:06 +0000

Clever move Abdullah, sit back and wait n see what happens. I will also keep my risk levels very low through the event, way too risky and no point in guessing what will happen

By: Abdullah Hussain

Abdullah Hussain — Wed, 18 Sep 2013 01:02:45 +0000

Morning Sean, to be honest im quite worried (fine im over exaggerating a tad bit) regards to tomorrows announcement! Sean, i know your position on the matter, but lets say hypothetically if Tapering does not occur this month, how low will we go? Personally I have decided as hard as it is for me to say this, i’m not going to trade until after the annoucment, I’ll watch from a safe distance and plan future moves.