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USD/JPY Discussion

  • #1,141
  • Jul 30, 2007 3:45pm Jul 30, 2007 3:45pm
I have Momentum point up on 1h,4h,daily. MACD says buy and ADX is showing the downward trend is losing steam.

Prob. the next low..it's time to buy?
  • #1,142
  • Jul 30, 2007 4:00pm Jul 30, 2007 4:00pm
Quoting karmostaji
new 4h candle opened above the trendline, expecting upward movement

http://img412.imageshack.us/img412/1661/ujbu8.gif
thanks karmostaji.
BAM BAM BOOM! -bravado
  • #1,143
  • Jul 30, 2007 4:02pm Jul 30, 2007 4:02pm
Quoting dove_alliance
Anyone notice how it hit the 119.15 pivot and then came to a standing stop?
Yes, exactly as it did last week, like clockwork. Has it always behaved this way around pivots in the past?
  • #1,144
  • Jul 30, 2007 4:02pm Jul 30, 2007 4:02pm
Quoting s3padrian
I have Momentum point up on 1h,4h,daily. MACD says buy and ADX is showing the downward trend is losing steam.

Prob. the next low..it's time to buy?
The yen had actually made its turn Friday at 18:00 - What we have been seeing since then is the consolidation of a trend going up.... The consolidation is the movements of the ups and downs until everything is in sync for the next trend. This is where pivots can keep you in the trades until the trend takes place.
The Dove - Forex Trainer
  • #1,145
  • Jul 30, 2007 4:05pm Jul 30, 2007 4:05pm
Looks like it's going to head south Dove. Think So? Momentum changed on all fronts to south and I've got a sell bar on 1h macd.
  • #1,146
  • Jul 30, 2007 4:12pm Jul 30, 2007 4:12pm
Daily pivot (118.74) Central pivot (119.04) R1 (119.46) S1 (118.33)

Right now it is moving below the central pivot and heading for the daily.
The Dove - Forex Trainer
  • #1,147
  • Jul 30, 2007 4:13pm Jul 30, 2007 4:13pm
Quoting DutchTrader


Clusterwise,

I wasn't disparaging, just thought it was an interesting level as everyone sees upside.

I didn't ment that, it's about to provide reasons for my view

Many thanks
  • #1,148
  • Jul 30, 2007 4:48pm Jul 30, 2007 4:48pm
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Quoting dove_alliance
profit taken at the 119.15
Just like you said earlier in the day....
Well done
  • #1,149
  • Jul 30, 2007 5:10pm Jul 30, 2007 5:10pm
Next target is 119.46 (R1) which is also top of the down trend for the 2 hour. retraces are in focus while it makes its way up there.
The Dove - Forex Trainer
  • #1,150
  • Jul 30, 2007 5:28pm Jul 30, 2007 5:28pm
Quoting dado26
Just like you said earlier in the day....
Well done
I appreciate it - just using the pivots for the profit.
The Dove - Forex Trainer
  • #1,151
  • Jul 30, 2007 5:34pm Jul 30, 2007 5:34pm
As a general rule I do not trade between 17:00 and 20:00 unless I see it taking off..... The reason for this is because Tokyo does not come in until 20:00.... At that time Asia will decide which way they want to trade for the night.

It is then, when I concentrate on the pivots.
The Dove - Forex Trainer
  • #1,152
  • Jul 30, 2007 5:44pm Jul 30, 2007 5:44pm
Look how it hit the support at trendline 118.00 and bounced up
Attached Image (click to enlarge)
Click to Enlarge Name: usd jpy.gif Size: 13 KB
  • #1,153
  • Jul 30, 2007 6:21pm Jul 30, 2007 6:21pm
Quoting moneypip
Look how it hit the support at trendline 118.00 and bounced up
and you selling ??
  • #1,154
  • Jul 30, 2007 6:40pm Jul 30, 2007 6:40pm
Quoting benssol
and you selling ??
How could he be selling when this thing went up over 100 pips today? Right now, the yen is above both main pivots which means, for the time being it is still up. Right now it is bobbing up and down and around yesterdays R1 - the 119.15 - and will continue this until Asia comes in.
The Dove - Forex Trainer
  • #1,155
  • Jul 30, 2007 6:46pm Jul 30, 2007 6:46pm
Quoting dove_alliance
How could he be selling when this thing went up over 100 pips today? Right now, the yen is above both main pivots which means, for the time being it is still up. Right now it is bobbing up and down and around yesterdays R1 - the 119.15 - and will continue this until Asia comes in.
look at his chart
he has opened sell order

I'm not asking him
I just wonder why he going against his analysis
  • #1,156
  • Jul 30, 2007 6:54pm Jul 30, 2007 6:54pm
[quote=benssol;1516132]and you selling ??[/quote

I am long and short
  • #1,157
  • Jul 30, 2007 7:16pm Jul 30, 2007 7:16pm
Dove, what should we expect now?
  • #1,158
  • Jul 30, 2007 7:25pm Jul 30, 2007 7:25pm
Quoting s3padrian
Dove, what should we expect now?
I got in at the 119.10 because Asia decided to take it to the daily pivot..... If it should come back across the central 119.04 then I will take profit and wait. But, as of now it is heading for the pivot at 118.74.
The Dove - Forex Trainer
  • #1,159
  • Jul 30, 2007 7:27pm Jul 30, 2007 7:27pm
Yea that's what I see sorta. I got in at 119.11, so I'm not too sure it's going to return. Might have to cut my loss there. Hopefully it'll get some upward momentum but it's all point down now
  • #1,160
  • Jul 30, 2007 7:30pm Jul 30, 2007 7:30pm
Quoting flanders
in long usd/jpy @ 123.25
Yep! Me too. In long @123.49. Very interesting. We will See.
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