Hi everyone,
I will be travelling next week, so I won't be able to post new update or respond to questions.
Will be back on the 28th.
Merry Christmas and Happy New Year to you all.
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- Cmellon
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9 comments:
Merry Christmas, CMellon.
Have a good holiday, and I've noticed you're always travelling every month end. Do you have another house somewhere else beside's Hong Kong? Just being busy body... lol
Hi Cmellon, saw your posts on DailyFx. What levels in USD/JPY are you expecting by end of Dec09?
Hey C,
A very Merry Christmas and a Happy New Year to you and yours. Jay
Hi whatisgud,
Merry Christmas to you too. We are just travelling for holiday. It could clear up mind so that it's fresh after months of analyzing chart =)
Hi Tarun,
USD JPY cycle high could be due at anytime now. It's probably better to exit long (or move your stop loss higher) if you are long right now.
Hi Jay,
Merry Christmas and Happy New Year to you too. Wishing you a prosperous year and many successful trades.
Hi C-mellon, I actually exited the trade at 91.70 and am waiting now for a retracement to get back in. I was long from 90.50 (so not that big but a decent profit). Can't wait to get the bigger trade...I actually read report stating that USDJPY could reach 95 by Jan-2010...So now we wait for a retracement... Any guesses on how low it could go..88.50ish?
Hi Tarun,
Per my Delta forecast, USD JPY is going to weaken until around 2nd - 3rd week of January, then it will have a massive upmove for around 1 to 1.5 months (until mid Feb - early Apr).
Delta does not project price level. It only projects the time. When we do get near the turnaround time at 2nd - 3rd week of Jan, I could better project the price level. For now, I would say the price target is around 87.5 - 88 (making an inverted H&S), but this is subject to change as we approach 2nd - 3rd week of Jan.
Ok, thanks a lot Cmellon! We wait and watch for now! :)
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