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USD/JPY Discussion

  • #1,261
  • Jul 31, 2007 10:59pm Jul 31, 2007 10:59pm
I'm still in the long on this which will eventually turn around and come back to the central pivot - That is why the central pivot is so important..... because no-matter which way it goes it will return.
The Dove - Forex Trainer
  • #1,262
  • Jul 31, 2007 11:03pm Jul 31, 2007 11:03pm
another interesting point here is that the yesterdays S1 was 118.33 and it was headed that way this afternoon but came one pip short of it so it eventually did turn again and came back to close that door. And right now it has been sitting on it.
The Dove - Forex Trainer
  • #1,263
  • Jul 31, 2007 11:05pm Jul 31, 2007 11:05pm
the S1 for today is 118.18...... What do you think will happen if it gets to that target.
The Dove - Forex Trainer
  • #1,264
  • Jul 31, 2007 11:13pm Jul 31, 2007 11:13pm
Quoting dove_alliance
the S1 for today is 118.18...... What do you think will happen if it gets to that target.
We'll find out in about 5 minutes..
  • #1,265
  • Jul 31, 2007 11:16pm Jul 31, 2007 11:16pm
I love to trade - it is such a challenge. When it broke back across the 118.60 I hedge the trade and will stay with the short for the 118.18 then close the hedge get in for another buy with two trades going up.
The Dove - Forex Trainer
  • #1,266
  • Jul 31, 2007 11:18pm Jul 31, 2007 11:18pm
Blood in the streets of Tokyo, Shanghai, London, New York, Sydney, Auckland and Frankfurt.
Patience + Humility + Study = Success
  • #1,267
  • Jul 31, 2007 11:21pm Jul 31, 2007 11:21pm
got out on the hedge when it retrace to the 22 with 30 pip profit.
The Dove - Forex Trainer
  • #1,268
  • Jul 31, 2007 11:22pm Jul 31, 2007 11:22pm
Quoting dove_alliance
I love to trade - it is such a challenge. When it broke back across the 118.60 I hedge the trade and will stay with the short for the 118.18 then close the hedge get in for another buy with two trades going up.
It barely poked its head above 118.60 for 5 minutes, that was a fast hedge..
  • #1,269
  • Jul 31, 2007 11:23pm Jul 31, 2007 11:23pm
Turn around will be a little slow this so be patient.
The Dove - Forex Trainer
  • #1,270
  • Jul 31, 2007 11:24pm Jul 31, 2007 11:24pm
Quoting Trader KGB
Isn't that the same as covering at 118.60 and just placing twice the size at 118.18? It barely poked its head above 118.60 for 5 minutes, that was a fast hedge..
At 22:40 when it came back across the pivot is when I hedge.
The Dove - Forex Trainer
  • #1,271
  • Jul 31, 2007 11:29pm Jul 31, 2007 11:29pm
Quoting dove_alliance
At 22:40 when it came back across the pivot is when I hedge.
Very nice. Do you think the original T/P of 118.83 is a little ambitious given tonight's action elsewhere?
  • #1,272
  • Jul 31, 2007 11:31pm Jul 31, 2007 11:31pm
The most important thing I have learned about trading is DO NOT trade with your thought or what you believe but only with what you see..... Thinking will only destroy you in this market.
The Dove - Forex Trainer
  • #1,273
  • Jul 31, 2007 11:32pm Jul 31, 2007 11:32pm
Quoting Trader KGB
Very nice. Do you think the original T/P of 118.83 is a little ambitious given tonight's action elsewhere?
It is hard to say right now just have to wait and see what it does from here.
The Dove - Forex Trainer
  • #1,274
  • Jul 31, 2007 11:34pm Jul 31, 2007 11:34pm
Last major support is 117.60 something
Patience + Humility + Study = Success
  • #1,275
  • Jul 31, 2007 11:36pm Jul 31, 2007 11:36pm
What some of you traders are missing here is that since Friday, this market has been hovering over the 61.8% fibo.
The Dove - Forex Trainer
  • #1,276
  • Jul 31, 2007 11:40pm Jul 31, 2007 11:40pm
Market is Ranging. Should we not expect it to return to around 119.26?
  • #1,277
  • Jul 31, 2007 11:41pm Jul 31, 2007 11:41pm
The price at that fibo is 118.56
The Dove - Forex Trainer
  • #1,278
  • Jul 31, 2007 11:43pm Jul 31, 2007 11:43pm
118.00 looks like a good place to buy... of course I'm a newb 118.21 doesn't look so bad either...
  • #1,279
  • Jul 31, 2007 11:44pm Jul 31, 2007 11:44pm
Quoting s3padrian
Market is Ranging. Should we not expect it to return to around 119.26?
The market is over sold and it will only be a matter of time.
The Dove - Forex Trainer
  • #1,280
  • Jul 31, 2007 11:45pm Jul 31, 2007 11:45pm
Alright.
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