Asia Overnight EJ GJ JPY pairs 1/24

I see you guys got the run up over 12082 on EJ I have 12129 as the high nice.

I have short the failure on GJ of 143.00 at 142.88 and EJ 121.07 my stops are at BE.The usual friends aj cj nj .These just initial short term scalp trades until proven otherwise already taken half. and will close without notice conditions warranted

Sequence at 7 pm 730 pm est where down and 800 pm change was down. with rises on the quarter hour in between so far. So IF 830 pm and the final sequence 900 pm and 930 pm follows suit we may have something. Last Friday it was the 830 change that spiked until midnight or so. EJ must clear 12060 s/r area to get a pullback retracement at the moment is trying the previous tp level of 12082 827 pm.

UJ bounced off the low at 90.30 and it has held so far. I count 8 higher lows for UJ since 88.00 does it go for 13.

Gj looks more promising, at any rate not looking to change the world yet just dreaming of short term profit atm like to see 120 190.50 even IF that happens trend is up. Can not count on that much retracement under normal circumstance given momo. Watching the next sequences. Stay Nimble and best of luck.

Be advised: Charts I post are observations or trade ideas only. I post trades that I take, or levels that I am watching, in order to gain feedback and support from this community. I am most likely one of the least experienced posters to this forum. My recommendation is you do not take any posted trade blindly, least of all mine. Always consider your own charts and your trade plan. You are responsible for your own trading. That being said I would love to hear your views on anything that I have posted.

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Comment by Jim Mathis on January 25, 2013 at 1:46am: oops forgot one

Comment by Elric on January 25, 2013 at 1:48am: Hello Jim, agree with your shorts for GJ and EJ . Especially EJ, i have 2 counts ends at both 1.00 and 2.618 target of corrective wave 121.300 of 1 hour and 15mins chart. would love to sell on rally but not a expect on yen pairs therefore what do you think of it. short now or recommend a rebound first.

Comment by Jim Mathis on January 25, 2013 at 2:07am: seems ticking down but waiting for hour change 9pm est and 930 I would love to buy from below. These pairs have come a long way, this session asia I expect to be relatively slow till 1030 or so.

I like your idea and would sell again on run ups to the highs that did not clear.

Basically I view this session as range trading until significant breaks occur.

Elric I am a guy just like you man, but do grab a UJ chart 15 min watch its s/r levels it helps me. I also have charts for the other jpy pairs even sgdjpy. CJ Nj often start the ball rolling.

I see lower low lower high for gj but must see 14243-5 broken through by 930 or will close same with ej 12060 and would consider buys on bounces from those level on final sequence. with confirmation new bar over the high of the low bar, or 2 bar etc. this time of night for me like a first date with an easy woman. We are both feeling each other out, I know I will get my reward just trying to figure when. I always wait till 9 mins after the hour to see or 5 mins after the half.

Love to hear any other ideas you have and see any chart.

Be weel. Let's get lucky

Comment by Jim Mathis on January 25, 2013 at 2:08am

Comment by Jess Simms on January 25, 2013 at 2:20am: Jim once again excellent work... ill start sharing some of my ideas when i can get some time.. but my trades seem to be in same direction as yours... similar entries however my exits are my weakness (too early or too late...uuuugh)...Cheers

Comment by Jim Mathis on January 25, 2013 at 2:24am: 923pm EU wobbling right at Haithams pivot level 3354 If i remember that correctly

Comment by Jason on January 25, 2013 at 2:25am: Morning Jim

Comment by Jim Mathis on January 25, 2013 at 2:30am: Evening Jason.

Do not feel alone with that Elric. Can't make all the pips! TP early and often is my motto.Peter shared something with me recently, take half roll your stop to BE, let it run, Do not ever let a winner become a loser...etc watch your risk reward, eye your trades if you are getting 40-15 profit dont have stops larger. Peter has written volumes on money management, I learn a lot when he and Lisa debate long term trading vs scalping, a lot about risk reward money management etc.

Comment by Jason on January 25, 2013 at 2:33am: I realised that you have been extremely familiar with the JPY crosses but will like share my small opinion on the EUR JPY and like to hear what you and many others think about it.

Only have time for this pair as I will only be in office for the next half hour and will be going out.

The 1 hour 8 day EMA stands around 120.18 and 4 hour 8 day EMA stands around 119.95 with daily 8 day EMA around 119.35 region.

It appears that the EURJPY has a confluence of support from down here and the trend is still up and it is not overbought at all on daily basis.

Having also looked at EUro on daily basis (8 day EMA at 1.3333 plus), it is not surprising why the EURO has refused to come down and is drifting higher slowly.

Given that the markets have been highly manipulated recently, I will not be surpised to see the EURO higher above 1.34 today against expectations and so any EURJPY dips should be bought with possible targets above 122 region today.

Not sure what you feel about this. Perhaps you can share your views on this and also many other experienced traders who like to drop a note as well.

Thank you and have a good day.

Comment by Elric on January 25, 2013 at 2:35am: can't agree more with you. But due to work, unable to keep track of the situation therefore usually i prefer to enter a position with tight SL, but of course for yens pairs it is very hard to get the right rate(for me). anyway would look to short the soon if this is the rebound.

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