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USD/JPY Discussion

  • #1,721
  • Aug 3, 2007 10:06am Aug 3, 2007 10:06am
It will retrace to 118.70 before resuming downtrend IMO
Trade what you see, not what you think.
  • #1,722
  • Aug 3, 2007 10:08am Aug 3, 2007 10:08am
Quoting karmostaji
It will retrace to 118.70 before resuming downtrend IMO
I actually had 118.64 but I agree with that area.
Patience + Humility + Study = Success
  • #1,723
  • Aug 3, 2007 10:14am Aug 3, 2007 10:14am
Quoting Pipsqueak
Didn't think it would come down this far, but since it did i got a bargain for long again. Long at 118.54
This is how I see it. A dip in the uptrend for a good buy.
  • #1,724
  • Aug 3, 2007 10:17am Aug 3, 2007 10:17am
Out at 118.48 to salvage a bad entry!
Still came out with a small profit. (4 pips x 2 positions, at 44 avg)

Quoting jasonowl
Long again at 118.38 (Martingle)
Brings my average to 44.
Dangerous strategy, I max 3 levels of martingle.
That's how to bring back some lost pips... Finger's crossed
Chances favour the prepared.
  • #1,725
  • Aug 3, 2007 10:19am Aug 3, 2007 10:19am
Guys.. seems like the 118.51 Daily S1 is now acting like a form of resistance.
I'm sure it will test again.. but I don't want to hang around with a poor Long entry!
Chances favour the prepared.
  • #1,726
  • Aug 3, 2007 10:30am Aug 3, 2007 10:30am
guys i am seeing a bearish trend develop think it would go down 20 pips
  • #1,727
  • Aug 3, 2007 10:34am Aug 3, 2007 10:34am
hey guys this is something odd my 1h chart tells me the pair is bullish and my 4 h chart tells me a bearish mood is there what should i believe?
  • #1,728
  • Aug 3, 2007 10:35am Aug 3, 2007 10:35am
Quoting bksujal
hey guys this is something odd my 1h chart tells me the pair is bullish and my 4 h chart tells me a bearish mood is there what should i believe?
Well your 1hr time frame is a smaller time frame trend within the longer term 4hr chart trend.
Patience + Humility + Study = Success
  • #1,729
  • Aug 3, 2007 10:39am Aug 3, 2007 10:39am
I am definatley sure that we will attack 55 before going down...how can the yen just give up like that............
  • #1,730
  • Aug 3, 2007 10:41am Aug 3, 2007 10:41am
Quoting rav700
I am definatley sure that we will attack 55 before going down...how can the yen just give up like that............
Now that i have said that you might as well start shorting....
  • #1,731
  • Aug 3, 2007 10:47am Aug 3, 2007 10:47am
Ok.. time to call it a night. Had some profits today.

Live to trade another day, for there will be no end to this.
Cheers.. Good luck folks, and have a good weekend.
Chances favour the prepared.
  • #1,732
  • Aug 3, 2007 10:49am Aug 3, 2007 10:49am
Quoting bksujal
hey guys this is something odd my 1h chart tells me the pair is bullish and my 4 h chart tells me a bearish mood is there what should i believe?
What does your daily say? I'd work from there AT LEAST..
  • #1,733
  • Aug 3, 2007 12:04pm Aug 3, 2007 12:04pm
After 16 hours of a sideway move everything changes. This is one reason I never get on announcements because they never go with the predicted numbers..... The announcement final numbers where against the dollar and this is what happened. If the number had been for the dollar on the announcement then it would had gone up. It is now at the S1 118.55 and more and likely will remain there for the rest of the day.....
The Dove - Forex Trainer
  • #1,734
  • Aug 3, 2007 12:06pm Aug 3, 2007 12:06pm
If it does get above the 118.55 then it will be a slow trend up until closing.
The Dove - Forex Trainer
  • #1,735
  • Aug 3, 2007 12:08pm Aug 3, 2007 12:08pm
Thats if it moves at all until monday.
Just Trade It
  • #1,736
  • Aug 3, 2007 12:09pm Aug 3, 2007 12:09pm
By the way, 118.30 was the bottom on this.... It drove through, retrace, and then made another attempt at 118.30 and turned again.
The Dove - Forex Trainer
  • #1,737
  • Aug 3, 2007 12:17pm Aug 3, 2007 12:17pm
118.53 is the 14.6% fibo of the trend going up... So next week it will begin a new journey.
The Dove - Forex Trainer
  • #1,738
  • Aug 3, 2007 12:21pm Aug 3, 2007 12:21pm
WAIT, WAIT I think I saw the market move a pip, nevermind that was just a bug on my screen, see you guys on monday.
Just Trade It
  • #1,739
  • Aug 3, 2007 12:21pm Aug 3, 2007 12:21pm
Quoting dove_alliance
By the way, 118.30 was the bottom on this.... It drove through, retrace, and then made another attempt at 118.30 and turned again.
Well come back Dove. Why don't you use 118.17 as the bottom instead 118.30?
  • #1,740
  • Aug 3, 2007 12:24pm Aug 3, 2007 12:24pm
Everyone have a good week-end and will be back on Sunday when the Yen comes back in....
Take care and God bless.
The Dove - Forex Trainer
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