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USD/JPY Discussion

  • #2,181
  • Aug 7, 2007 6:53pm Aug 7, 2007 6:53pm
the movement is floating up and down over the pivot we will see what Tokyo wants to do with it. The daily trend is still up which it made its crossing at 16:00
The Dove - Forex Trainer
  • #2,182
  • Aug 7, 2007 6:55pm Aug 7, 2007 6:55pm
If Tokyo keeps it up then the R1 will be the target.
The Dove - Forex Trainer
  • #2,183
  • Aug 7, 2007 6:58pm Aug 7, 2007 6:58pm
Quoting dove_alliance
R3 - 120.18


If you will notice there is only a 26 pip spread between the central and the daily which means this evening one of them will be busted and then either the R1 or S1 will be targets

Dove,

When you say one of the pivots will be busted....how many pips beyond the pivot is considered busting the pivot?
  • #2,184
  • Aug 7, 2007 7:03pm Aug 7, 2007 7:03pm
Dove

Are you looking at a 5 minute chart for the Tokyo open?
  • #2,185
  • Aug 7, 2007 7:05pm Aug 7, 2007 7:05pm
This thing is still up so just be patient.
The Dove - Forex Trainer
  • #2,186
  • Aug 7, 2007 7:08pm Aug 7, 2007 7:08pm
I use a 120 tick bar to determine opening and closing of candles concerning the pivots and also tracking the trend.
The Dove - Forex Trainer
  • #2,187
  • Aug 7, 2007 7:13pm Aug 7, 2007 7:13pm
Quoting dove_alliance
I use a 120 tick bar to determine opening and closing of candles concerning the pivots and also tracking the trend.
120 tick>?
  • #2,188
  • Aug 7, 2007 7:13pm Aug 7, 2007 7:13pm
Quoting dove_alliance
I use a 120 tick bar to determine opening and closing of candles concerning the pivots and also tracking the trend.
Is that 120 ticks in a 5 minute bar?
  • #2,189
  • Aug 7, 2007 7:17pm Aug 7, 2007 7:17pm
Right now it is indecisive> I could go in scalp pips but even do that would be just a little too dangerous.
The Dove - Forex Trainer
  • #2,190
  • Aug 7, 2007 7:21pm Aug 7, 2007 7:21pm
Quoting moneypip
Is that 120 ticks in a 5 minute bar?
My tick bar is set at 120 which is in between the 5 and 10 minute chart.
The Dove - Forex Trainer
  • #2,191
  • Aug 7, 2007 7:24pm Aug 7, 2007 7:24pm
Like I said this thing is still up and it may hit the 119.09 before a turn takes place..... We just have to wait and see.
The Dove - Forex Trainer
  • #2,192
  • Aug 7, 2007 7:28pm Aug 7, 2007 7:28pm
For the intraday traders there is a sell entry at the 118.52..... If that stays true then there is a lot of pips to be made.
The Dove - Forex Trainer
  • #2,193
  • Aug 7, 2007 7:30pm Aug 7, 2007 7:30pm
The stop lose on that entry is 118.92.... So there are many variables to play out here.
The Dove - Forex Trainer
  • #2,194
  • Aug 7, 2007 7:35pm Aug 7, 2007 7:35pm
Don't anyone focus on sell as yet because that is not going to happen for awhile.
The Dove - Forex Trainer
  • #2,195
  • Aug 7, 2007 7:51pm Aug 7, 2007 7:51pm
All indicators are trying to make a sweep to change the trend..... So, it is a waiting game to see if it happens.
The Dove - Forex Trainer
  • #2,196
  • Aug 7, 2007 7:51pm Aug 7, 2007 7:51pm
This isn't my default indicator, but it's good to observe once in a while.
The cornflower indicators on 1H is showing an uptrend, With a bounce of the MAs in the system.

Just sharing.
http://img32.picoodle.com/img/img32/...0m_314d441.jpg
Chances favour the prepared.
  • #2,197
  • Aug 7, 2007 7:56pm Aug 7, 2007 7:56pm
Quoting jasonowl
This isn't my default indicator, but it's good to observe once in a while.
The cornflower indicators on 1H is showing an uptrend, With a bounce of the MAs in the system.

Just sharing.
http://img32.picoodle.com/img/img32/...0m_314d441.jpg
My 1 hour says up also but that could change within the next 5 minute or it may take another hour.
The Dove - Forex Trainer
  • #2,198
  • Aug 7, 2007 8:24pm Aug 7, 2007 8:24pm
I believe this will turn around soon and the reason why is because Tokyo open the session by taking it down and usually how Tokyo opens the session stays the mood for the day.
The Dove - Forex Trainer
  • #2,199
  • Aug 7, 2007 9:04pm Aug 7, 2007 9:04pm
Quoting dove_alliance
I believe this will turn around soon and the reason why is because Tokyo open the session by taking it down and usually how Tokyo opens the session stays the mood for the day.
I'm seeing maybe a 119.00-119.50. Price gets up in there and I will probably short.
  • #2,200
  • Aug 7, 2007 9:08pm Aug 7, 2007 9:08pm
The trend is still up and the 119.09 is also a possibility..... Too much up and down right now very unstable....
The Dove - Forex Trainer
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