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USD/JPY Discussion

  • #1,081
  • Jul 30, 2007 3:16am Jul 30, 2007 3:16am
Quoting dove_alliance
119.15 then look for a major retrace.
Thanks for the correction, I meant 119.15 haven't had my coffee yet
Patience + Humility + Study = Success
  • #1,082
  • Jul 30, 2007 3:29am Jul 30, 2007 3:29am
Haha.. looks like I'm doing the opposite. I'm trading the retrace.

Short at 118.98 & 89, just took a small profit.
I'm not gonna sit around for the retrace to complete, coz it could just jump on me anytime

Looking for a better entry this time, hopefully get the signal for the LONG.
Chances favour the prepared.
  • #1,083
  • Jul 30, 2007 3:30am Jul 30, 2007 3:30am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Quoting DutchTrader
Thanks for the correction, I meant 119.15 haven't had my coffee yet
lol.... coffe..I had to till now
I agree with your point of view...
  • #1,084
  • Jul 30, 2007 3:32am Jul 30, 2007 3:32am
Quoting jasonowl
Haha.. looks like I'm doing the opposite. I'm trading the retrace.

Short at 118.98 & 89, just took a small profit.
I'm not gonna sit around for the retrace to complete, coz it could just jump on me anytime

Looking for a better entry this time, hopefully get the signal for the LONG.
retrace is about finished
The Dove - Forex Trainer
  • #1,085
  • Jul 30, 2007 3:36am Jul 30, 2007 3:36am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Quoting dove_alliance
retrace is about finished
74% fibo from the yesterday high.
But I am still waiting for sloping support to be broken...
  • #1,086
  • Jul 30, 2007 3:56am Jul 30, 2007 3:56am
I wait the pair will grow till 119.85
  • #1,087
  • Jul 30, 2007 3:58am Jul 30, 2007 3:58am
Using Fibo retrace is very subjective sometimes.
I mainly use it against Fractal Points

And on the 15min, retrace still looks like it's in action and should target 118.70 area for 50%, and on the 1H, it just hit the 38.2% at 118.75 for the move up.

If this holds, yup, 119.15-30 here we come!!!!
Chances favour the prepared.
  • #1,088
  • Jul 30, 2007 4:20am Jul 30, 2007 4:20am
I just love it...... retrace back to the pivot and now a turn around going back up.
The Dove - Forex Trainer
  • #1,089
  • Jul 30, 2007 4:29am Jul 30, 2007 4:29am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Nice one, ha?!
I am still out although. I collected previous bull move against the trend and 20 pips against the trend is good for me for today....
If support brakes.....
  • #1,090
  • Jul 30, 2007 4:32am Jul 30, 2007 4:32am
Quoting dado26
Nice one, ha?!
I am still out although. I collected previous bull move against the trend and 20 pips against the trend is good for me for today....
If support brakes.....
I collected my 60 pips on top and one thing I never do is trade on retraces. I just wait for the turn around and get back in. Turn around hasn't happen yet but will very soon.
The Dove - Forex Trainer
  • #1,091
  • Jul 30, 2007 4:35am Jul 30, 2007 4:35am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
I hear you! It was very shortterm trade......
But my chart is now showing close outside support.....
Are bears here?
  • #1,092
  • Jul 30, 2007 4:38am Jul 30, 2007 4:38am
Quoting dado26
I hear you! It was very shortterm trade......
But my chart is now showing close outside support.....
Are bears here?
it'll keep bouncing on the support for about another 5 minutes before deciding what do to.

It also could go on to the central pivot which is the 43.
The Dove - Forex Trainer
  • #1,093
  • Jul 30, 2007 4:51am Jul 30, 2007 4:51am
All major bank analyisis says this pair is going down, once it breaks 118.00 watch it drop like a rock.
Just Trade It
  • #1,094
  • Jul 30, 2007 4:58am Jul 30, 2007 4:58am
Quoting Big Wave Rider
All major bank analyisis says this pair is going down, once it breaks 118.00 watch it drop like a rock.
It broke through the central pivot which means the target for the short is 117.89.
The Dove - Forex Trainer
  • #1,095
  • Jul 30, 2007 4:59am Jul 30, 2007 4:59am
hi,
i have made analysis on 2h chart on Elliot Wave theory.
i think that it should go up to 119,35-119,50, and here it should turn to go down to point 5.
take a look a picture bellow.

http://img408.imageshack.us/img408/7...ka2xhd9.th.jpg

many pips
  • #1,096
  • Jul 30, 2007 5:03am Jul 30, 2007 5:03am
Help U/j!!! It's trapped between the 50% fib and the 118.2 support!!! help poor UJ!!
  • #1,097
  • Jul 30, 2007 5:13am Jul 30, 2007 5:13am
I suggest to wait and be patient. Right now it is playing around the pivot points trying to turn around for trip up again.
The Dove - Forex Trainer
  • #1,098
  • Jul 30, 2007 5:42am Jul 30, 2007 5:42am
* Gulp *
My signals were right about the move down (I didn't catch the up one which Dove saw).

Got out too early... but then Pips in the pocket is worth more than all the pips out there...

Grrghhh...
Chances favour the prepared.
  • #1,099
  • Jul 30, 2007 5:54am Jul 30, 2007 5:54am
One thing for sure...... This yen is oversold and have been since the 26th....
The Dove - Forex Trainer
  • #1,100
  • Jul 30, 2007 6:15am Jul 30, 2007 6:15am
So what's everyone's move if/when this breaks 118? (seems practically inevitable any moment now)
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