Author Topic: USDJPY Discussions  (Read 5179 times)

elmarvotri

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USDJPY Discussions
« on: January 21, 2013, 09:12:25 AM »
USDJPY is really bullish right now! but i want to bring a thought to our discussions! I remember a book I was reading long time ago, about candlesticks patterns from Steve Nisson, IŽll give a look again to is but, there is a oriental pattern that consists in eight or nine, I dont remember, of new highs! They called it Belly Full! Tomorrow IŽll consult it to be sure and post here. And if you look to weekly charts on usdjpy above 79.25, you can see  around nine weekly candles with a new highs on this amazing bullish market! DonŽt you think is really strange you see kind a move without a retracement?

What do you think?

My point of view for usdjpy is: below 89.66 we may see a retracement somewhere between 84.20  and 85.20.

« Last Edit: January 21, 2013, 09:27:39 AM by elmarvotri »

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USDJPY Discussions
« on: January 21, 2013, 09:12:25 AM »

elmarvotri

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Re: USDJPY Discussions
« Reply #1 on: January 21, 2013, 09:14:47 AM »
I found the pattern description in the book I told. Is not belly full, is Stomach Full!
Bellow a cut from the book with the explanation. It may come in hand to our USDJPY discussion! :)

"Candlestick theory states that after about eight to ten
new highs or lows, without a meaningful correction, the odds are strong
that a significant correction will unfold. Each new high or new low for
the move is called a "new record high" or "new record low" by the Jap-
anese. Thus the Japanese will say there are ten record highs or lows,
meaning there were a series of ten higher highs or lower lows. If  there
are, say, eight new highs without a meaningful correction, the Japanese
refer to the market by using the expression "the stomach is 80% full."

Totifroti

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Re: USDJPY Discussions
« Reply #2 on: January 21, 2013, 01:44:59 PM »
And now it isvnot full anymore  :'(  :'(

Nicodemus

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Re: USDJPY Discussions
« Reply #3 on: January 21, 2013, 03:43:22 PM »
The monthly and weekly charts on this pair are very curious!  Weekly is in a strong uptrend but monthly until last six months or so is in a huge downtrend.  Going to keep an eye on this pair now :)

elmarvotri

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Re: USDJPY Discussions
« Reply #4 on: January 21, 2013, 05:39:04 PM »
After our discussion IŽm keeping a close look to this pair too.
Anyone can see a bullish divergence but me?