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USD/JPY Discussion

  • #1,781
  • Aug 5, 2007 3:10pm Aug 5, 2007 3:10pm
Seems as if will have to go south to around 116.00 before we start seeing some good long entries.
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  • #1,782
  • Aug 5, 2007 3:14pm Aug 5, 2007 3:14pm
Hi

Good night and good trades for all!

For who likes to read here a good article about this pair.

www.currencytradermag.com/ctli72.htm
  • #1,783
  • Aug 5, 2007 5:20pm Aug 5, 2007 5:20pm
Dove! You're back. Let's make some pips
  • #1,784
  • Aug 5, 2007 5:20pm Aug 5, 2007 5:20pm
Hello everyone,
Just got back from a Sunday service I attend every week and jut got on to let you know that if anyone uses the Pivots that ForexFactory gave out are wrong.... He did not calculate the movement for today before 17:00 ET. The pivots are:

R1 - 118.71

The central pivot - 117.54
The Daily pivot - 118.12

S1 - 116.94

Right now it is trying to get above the hard pivot which is 117.60.... It is also a down yet and will be aleast another 20 - 40 minutes provided there are no turns.
The Dove - Forex Trainer
  • #1,785
  • Aug 5, 2007 5:22pm Aug 5, 2007 5:22pm
Wow, Thanks Dove. My pivots are messed up for some reason. I guess it's good to manually check as well.

So you think we're going farther down?
  • #1,786
  • Aug 5, 2007 5:24pm Aug 5, 2007 5:24pm
It is still down until we get above the 117.60 again. and then we will see.... As for me, I am in the waiting mode.
The Dove - Forex Trainer
  • #1,787
  • Aug 5, 2007 5:26pm Aug 5, 2007 5:26pm
Alright, I wanted to buy earlier but I waited and it kept going up...SO I finally decided to buy and it dropped 25 pips and kicked me out. Gotta shake off the weekend and get back in the groove. So eager to get in after a weekend off. Patience..
  • #1,788
  • Aug 5, 2007 5:27pm Aug 5, 2007 5:27pm
Quoting dove_alliance
It is still down until we get above the 117.60 again. and then we will see.... As for me, I am in the waiting mode.

What are the settings for the bollinger band that you use?
  • #1,789
  • Aug 5, 2007 5:34pm Aug 5, 2007 5:34pm
So everyone knows, the target is till the S1 116.94 until the indicators says otherwise. And right now, it is holding at the pivots.
The Dove - Forex Trainer
  • #1,790
  • Aug 5, 2007 5:37pm Aug 5, 2007 5:37pm
Quoting s3padrian
What are the settings for the bollinger band that you use?
My settings for the period is 15
The Dove - Forex Trainer
  • #1,791
  • Aug 5, 2007 5:40pm Aug 5, 2007 5:40pm
Quoting dove_alliance
My settings for the period is 15

Interesting. Tell me if this is true. It seems as though when USDJPY pops the band..it heads for a retrace soon after.
  • #1,792
  • Aug 5, 2007 5:42pm Aug 5, 2007 5:42pm
Quoting s3padrian
Interesting. Tell me if this is true. It seems as though when USDJPY pops the band..it heads for a retrace soon after.
that is 50 - 50 on the long and usually 95% of time on the short
The Dove - Forex Trainer
  • #1,793
  • Aug 5, 2007 5:44pm Aug 5, 2007 5:44pm
So you're saying when the bottom band is broken..it has a 95% chance of retrace. If it breaks the top band it has a 50%-50% chance of retrace?
  • #1,794
  • Aug 5, 2007 5:51pm Aug 5, 2007 5:51pm
Quoting s3padrian
So you're saying when the bottom band is broken..it has a 95% chance of retrace. If it breaks the top band it has a 50%-50% chance of retrace?
The only time a retrace does not happen on the breaking of the bands is when it opens, which it happens on the settings I have, the candle will then hook on the band and take off for the next pivot......
The Dove - Forex Trainer
  • #1,795
  • Aug 5, 2007 5:55pm Aug 5, 2007 5:55pm
right now everything is working to be sync for the movement up..... That is why it is holding at the pivots. And patience is the name of the game.
The Dove - Forex Trainer
  • #1,796
  • Aug 5, 2007 5:56pm Aug 5, 2007 5:56pm
If it doesn't close at 117.60 or over..should that be another sign to short?
  • #1,797
  • Aug 5, 2007 5:59pm Aug 5, 2007 5:59pm
My two hour slow_k is pretty much tapped out and the short.... I don't foresee much more movement on the south side..... But, that's not saying it won't happen......
The Dove - Forex Trainer
  • #1,798
  • Aug 5, 2007 6:01pm Aug 5, 2007 6:01pm
Well it's going to hit the 61.8 retrace...which is around my time to think about buying
  • #1,799
  • Aug 5, 2007 6:01pm Aug 5, 2007 6:01pm
Don't anyone jump in this thing going south right now..... It is too dangerous at this time.
The Dove - Forex Trainer
  • #1,800
  • Aug 5, 2007 6:02pm Aug 5, 2007 6:02pm
Doh..lol
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