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USD/JPY Discussion

  • #2,021
  • Aug 6, 2007 7:16pm Aug 6, 2007 7:16pm
Right now I am on hold...... Because if the retrace doesn't happen then another sideway move......
The Dove - Forex Trainer
  • #2,022
  • Aug 6, 2007 7:22pm Aug 6, 2007 7:22pm
two 20 minute candles open on the same pivot which means it isn't good for right now to be in any trade.
The Dove - Forex Trainer
  • #2,023
  • Aug 6, 2007 7:24pm Aug 6, 2007 7:24pm
I've been short with around +30 pips. Thinking it's still going to go farther down because of the trend line.
  • #2,024
  • Aug 6, 2007 7:25pm Aug 6, 2007 7:25pm
The 20 minute trend is sliding under the crossing which still indicates a retrace
The Dove - Forex Trainer
  • #2,025
  • Aug 6, 2007 7:30pm Aug 6, 2007 7:30pm
so you think we're heading south as well Dove? Especially after this retrace?
  • #2,026
  • Aug 6, 2007 7:31pm Aug 6, 2007 7:31pm
You traders don't do what I did until you are sure and comfortable with this type of trading..... I shouldn't had said anything and I apologize... The retrace has kicked in and now we wait until it hits the central or close to it whichever come first.
The Dove - Forex Trainer
  • #2,027
  • Aug 6, 2007 7:50pm Aug 6, 2007 7:50pm
What is making it tough for you traders is you don't have the same indicators as I do and you won't with charting system you have..... What I'm seeing for right now is this thing blowing the door open at the 86 and continue on with the trend up. We will see when it gets there.
The Dove - Forex Trainer
  • #2,028
  • Aug 6, 2007 7:51pm Aug 6, 2007 7:51pm
Right..Central Pivot is 118.86 correct? That's also my 61.8 fib line. I'm expecting it to retrace there and then I'll add another small position for the trade down.
  • #2,029
  • Aug 6, 2007 7:51pm Aug 6, 2007 7:51pm
I have been following this pair and thanks to everyone for their contributions. I had reasons for the following trade but I really believe I got somewhat lucky. Beginners luck since I am new to forex trading. Maybe someone can learn from this post. I mainly took this trade because I saw a top and overbought on the stochastic. The line at 118.51 was the target because it was the top of the red and green candles previously. So, I went short at 118.73 and set my limit at 118.57 above the target line to be conservative.
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  • #2,030
  • Aug 6, 2007 7:55pm Aug 6, 2007 7:55pm
Quoting dove_alliance
What is making it tough for you traders is you don't have the same indicators as I do and you won't with charting system you have..... What I'm seeing for right now is this thing blowing the door open at the 86 and continue on with the trend up. We will see when it gets there.

Well that's not a good sign. I have s/l for +2 pips just in case.
  • #2,031
  • Aug 6, 2007 7:56pm Aug 6, 2007 7:56pm
Quoting fxracing
I have been following this pair and thanks to everyone for their contributions. I had reasons for the following trade but I really believe I got somewhat lucky. Beginners luck since I am new to forex trading. Maybe someone can learn from this post. I mainly took this trade because I saw a top and overbought on the stochastic. The line at 118.51 was the target because it was the top of the red and green candles previously. So, I went short at 118.73 and set my limit at 118.57 above the target line to be conservative.
The 118.57 is a support on the fibo..... It didn't break it and the retrace happen and now it may continue with the trend.
The Dove - Forex Trainer
  • #2,032
  • Aug 6, 2007 8:01pm Aug 6, 2007 8:01pm
Quoting kreeper_6
its getting close to the 50sma. I think it'll hit 118.50 if it is lucky then turn up. maybe my indicators will confirm this.......anyone?
just as i suspected. currently long from 118.64 with a TS of 15.
  • #2,033
  • Aug 6, 2007 8:01pm Aug 6, 2007 8:01pm
if it breaks through the 86 then the first target is 119.21 and then a retrace, then on to the 119.57 which is the R1.... I'll let you know when we get there.
The Dove - Forex Trainer
  • #2,034
  • Aug 6, 2007 8:03pm Aug 6, 2007 8:03pm
Quoting dove_alliance
The 118.57 is a support on the fibo..... It didn't break it and the retrace happen and now it may continue with the trend.
I just drew the fibo and see the support, thanks!
  • #2,035
  • Aug 6, 2007 8:10pm Aug 6, 2007 8:10pm
Dove,
The central is 118.86, right? How did you arrive at the Daily being 118.37?
  • #2,036
  • Aug 6, 2007 8:14pm Aug 6, 2007 8:14pm
Quoting s3padrian
Well that's not a good sign. I have s/l for +2 pips just in case.
Why didn't you just took 30 pip profit when you had the chance????
The Dove - Forex Trainer
  • #2,037
  • Aug 6, 2007 8:15pm Aug 6, 2007 8:15pm
Quoting trader07
Dove,
The central is 118.86, right? How did you arrive at the Daily being 118.37?
The CALCULATOR! its posted several times daily almost......read a little.
  • #2,038
  • Aug 6, 2007 8:18pm Aug 6, 2007 8:18pm
Quoting dove_alliance
Why didn't you just took 30 pip profit when you had the chance????

I'm looking for the bid ride down. I missed the big ride up today because everyone kept telling me I should just take profit, so I did. The one time I took profit of course would be the time the wave went really high. I missed out on 40-60 pips.
  • #2,039
  • Aug 6, 2007 8:18pm Aug 6, 2007 8:18pm
closed my trade @118.75 I see too much indecision on the 5min and 15min (Doji candles). I will wait for .86 to be broken for another possible trade as Dove has stated.
  • #2,040
  • Aug 6, 2007 8:18pm Aug 6, 2007 8:18pm
Hmmmm - interesting, all major currencies came to a dead stop..... I wonder what could be going on????


Moving again -
The Dove - Forex Trainer
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