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USD/JPY Discussion

  • #1,401
  • Aug 1, 2007 10:08pm Aug 1, 2007 10:08pm
Although, I don't quite like how the H4 charts are looking!

Quoting jasonowl
I smell a Long opportunity coming..
Chances favour the prepared.
  • #1,402
  • Aug 1, 2007 10:30pm Aug 1, 2007 10:30pm
What you have been observing is a normal procedure for this pair. It had traveled the 50% pip movement between the two pivots, the central and the daily, then retrace back to 1 pip short of the central, made its turn for the destination it was on which is, the daily pivot.
The Dove - Forex Trainer
  • #1,403
  • Aug 1, 2007 10:39pm Aug 1, 2007 10:39pm
Dove, I'm thinking of going long @118.50.. good idea?
  • #1,404
  • Aug 1, 2007 10:43pm Aug 1, 2007 10:43pm
Hmm.. on H4, the 118.50 is at *correction 38.2%* Fib using Low and High Fractal.
From Stochs, there seems to be some more movement down...

No trade for Long I think *Yet*
Chances favour the prepared.
  • #1,405
  • Aug 1, 2007 10:43pm Aug 1, 2007 10:43pm
Quoting VishalJ
Dove, I'm thinking of going long @118.50.. good idea?
Not to criticize, but do not think in this market..... indicators only.... I won't know anything until it hits the destination and then we wait to see what happens from there..... One thing we must be sure of that this will not become a drive and I will know that when it hits the pivot.
The Dove - Forex Trainer
  • #1,406
  • Aug 1, 2007 10:44pm Aug 1, 2007 10:44pm
Quoting dove_alliance
Not to criticize, but do not think in this market..... indicators only.... I won't know anything until it hits the destination and then we wait to see what happens from there..... One thing we must be sure of that this will not become a drive and I will know that when it hits the pivot.
Ok thanks
  • #1,407
  • Aug 1, 2007 10:45pm Aug 1, 2007 10:45pm
I'd like to get on this buy...I feel though it might travel down and around 118.15 to pass the 61.8 fib retracement.

But I don't know really know anything.
  • #1,408
  • Aug 1, 2007 10:45pm Aug 1, 2007 10:45pm
OK - was taken out with the profit and now we wait on the retrace and see where it goes.
The Dove - Forex Trainer
  • #1,409
  • Aug 1, 2007 10:47pm Aug 1, 2007 10:47pm
right now I'm watching my 5 minute chart on this retrace and see what the indicators are going to do.....
The Dove - Forex Trainer
  • #1,410
  • Aug 1, 2007 10:50pm Aug 1, 2007 10:50pm
It will be another 15 - 30 minutes before the indicators give notice..... As of right now it is still down.
The Dove - Forex Trainer
  • #1,411
  • Aug 1, 2007 10:53pm Aug 1, 2007 10:53pm
What will happen is this retrace will turn for the pivot once again and then the indicators will give notice..... Always be patient when it hits a pivot, especially when it doesn't keep going.
The Dove - Forex Trainer
  • #1,412
  • Aug 1, 2007 10:53pm Aug 1, 2007 10:53pm
Lunch time for me...
Good luck guys!

Go get some PIPS!
Chances favour the prepared.
  • #1,413
  • Aug 1, 2007 10:59pm Aug 1, 2007 10:59pm
I'm going to take a little break and be back... For right now it isn't going anywhere.
The Dove - Forex Trainer
  • #1,414
  • Aug 1, 2007 11:04pm Aug 1, 2007 11:04pm
I'm back - do not get into the long yet because it is still in the retrace mode.
The Dove - Forex Trainer
  • #1,415
  • Aug 1, 2007 11:14pm Aug 1, 2007 11:14pm
At the pivot once again..
  • #1,416
  • Aug 1, 2007 11:14pm Aug 1, 2007 11:14pm
If everyone was with me on this trip down should had took in some pretty good pips. And we are still in a wait mode.
The Dove - Forex Trainer
  • #1,417
  • Aug 1, 2007 11:15pm Aug 1, 2007 11:15pm
Yea.. I followed you down. And took profit at the pivot.
  • #1,418
  • Aug 1, 2007 11:16pm Aug 1, 2007 11:16pm
Quoting s3padrian
Yea.. I followed you down. And took profit at the pivot.
Good job done
The Dove - Forex Trainer
  • #1,419
  • Aug 1, 2007 11:18pm Aug 1, 2007 11:18pm
See it broke the pivot..does that mean it's safe to go down?
  • #1,420
  • Aug 1, 2007 11:19pm Aug 1, 2007 11:19pm
Looks like it wants to continue its journey southward..
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