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USD/JPY Discussion

  • #2,221
  • Aug 7, 2007 10:04pm Aug 7, 2007 10:04pm
Quoting dove_alliance
I use the 5 minute chart with a Linear Regression and a couple of moving averages set at the right base and parameter.... At each turn I make an entry.... I set my limit for 10 pips and no more.... which is, a 7 pip profit.... Usually there are more pips but greed can always get you in trouble.... There is always at least 10 pips on each turn.... Just like this turn.... I got in at 118.76 and my limit took me out at the 86..... 7 pip profit..... Now i will wait for the next turn.
And where do you place your SL orders? What is your RISK/REWARD ratio in each trade?
  • #2,222
  • Aug 7, 2007 10:29pm Aug 7, 2007 10:29pm
Quoting P 1
And where do you place your SL orders? What is your RISK/REWARD ratio in each trade?
I use no stop-loss in this type of trading and my REWARD is 100% profit..... anymore duh..... questions.
The Dove - Forex Trainer
  • #2,223
  • Aug 7, 2007 10:42pm Aug 7, 2007 10:42pm
Quoting dove_alliance
I use no stop-loss in this type of trading and my REWARD is 100% profit..... anymore duh..... questions.
No. I wish you good luck!!!
  • #2,224
  • Aug 7, 2007 10:48pm Aug 7, 2007 10:48pm
Quoting dove_alliance
I use no stop-loss in this type of trading and my REWARD is 100% profit..... anymore duh..... questions.
hey dove what is the pivot point? and where is the pair most likely seem to heading?
  • #2,225
  • Edited 10:56pm Aug 7, 2007 10:56pm | Edited 10:56pm
Quoting dove_alliance
I use no stop-loss in this type of trading and my REWARD is 100% profit..... anymore duh..... questions.
Hey Dove,

Seems as though you have become the Pied Piper over here!!! LOL

Good Luck Tonight!
Proper Prior Planning Prevents Piss Poor Performance
  • #2,226
  • Aug 7, 2007 10:59pm Aug 7, 2007 10:59pm
Quoting bksujal
hey dove what is the pivot point? and where is the pair most likely seem to heading?
R3 - 120.18
R2 - 119.56
R1 - 119.19

Central - 118.83
Daily - 118.57

S1 - 118.20
S2 - 117.58
S3 - 117.21
  • #2,227
  • Aug 7, 2007 10:59pm Aug 7, 2007 10:59pm
USDJPY

USDJPY is in down trend, the rise from 117.15 is treated as consolidation to the down trend, and further fall towards 116.00 area to reach the next cycle bottom on 4 hours chart is still in favor. On the other side, USDJPY can be bottoming at 117.15 on 4 hours chart, key resistance is at 119.47, a break above this level will confirm the cycle bottom.
If I Go Broke Trying Then I Will die happy.
  • #2,228
  • Aug 7, 2007 11:10pm Aug 7, 2007 11:10pm
Quoting Moe
USDJPY

USDJPY is in down trend, the rise from 117.15 is treated as consolidation to the down trend, and further fall towards 116.00 area to reach the next cycle bottom on 4 hours chart is still in favor. On the other side, USDJPY can be bottoming at 117.15 on 4 hours chart, key resistance is at 119.47, a break above this level will confirm the cycle bottom.
Everybody hang on the trend is still up..... If you took profit that is good you can get back in on the next entry.
The Dove - Forex Trainer
  • #2,229
  • Aug 7, 2007 11:17pm Aug 7, 2007 11:17pm
Quoting Moe
USDJPY

USDJPY is in down trend, the rise from 117.15 is treated as consolidation to the down trend, and further fall towards 116.00 area to reach the next cycle bottom on 4 hours chart is still in favor. On the other side, USDJPY can be bottoming at 117.15 on 4 hours chart, key resistance is at 119.47, a break above this level will confirm the cycle bottom.
4 hour charts are too long distance to be accurate.
The Dove - Forex Trainer
  • #2,230
  • Aug 7, 2007 11:19pm Aug 7, 2007 11:19pm
there may be a repercussion at the 119.09 so look out for that.
The Dove - Forex Trainer
  • #2,231
  • Aug 7, 2007 11:24pm Aug 7, 2007 11:24pm
got my 17 pips at 119.05 time for bed!! thanks
  • #2,232
  • Aug 7, 2007 11:26pm Aug 7, 2007 11:26pm
Quoting Mrpipmaster
got my 17 pips at 119.05 time for bed!! thanks
Take care and God bless.
The Dove - Forex Trainer
  • #2,233
  • Aug 7, 2007 11:29pm Aug 7, 2007 11:29pm
Quoting dove_alliance
there may be a repercussion at the 119.09 so look out for that.
Why 119.09 last High? For me 119.19 is the R1 for today.
It’s just emotions & money
  • #2,234
  • Aug 7, 2007 11:31pm Aug 7, 2007 11:31pm
Looks like preparing for a breakout.
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  • #2,235
  • Aug 7, 2007 11:32pm Aug 7, 2007 11:32pm
its a resistance from 8/6 @ 3:30 pm
slowly but steady is the answer.
  • #2,236
  • Aug 7, 2007 11:33pm Aug 7, 2007 11:33pm
Quoting Val144
Why 119.09 last High? For me 119.19 is the R1 for today.
119.19 is the daily R1 - 119.09 is the weekly R1
The Dove - Forex Trainer
  • #2,237
  • Aug 7, 2007 11:44pm Aug 7, 2007 11:44pm
OK, thanks
It’s just emotions & money
  • #2,238
  • Aug 8, 2007 12:12am Aug 8, 2007 12:12am
Quoting dove_alliance
4 hour charts are too long distance to be accurate.
l.m.a.o.
If I Go Broke Trying Then I Will die happy.
  • #2,239
  • Aug 8, 2007 12:23am Aug 8, 2007 12:23am
OK - destination had been reached.... Got in at the 84 and taken out at the 119.19 with the limit.... It is time to wait and lets see what happens....
The Dove - Forex Trainer
  • #2,240
  • Aug 8, 2007 12:29am Aug 8, 2007 12:29am
As we are waiting I'll give you what could possibly happen.... Right now, it is overbought according to my Slow_K on the 2 hour chart. At this time I will be looking for another turn around..... You had made some good pips on this trip up so don't get greedy because you just might loose most of the profit if you do..... So just be patient and lets wait for the turn around or the bust through the R1 in which I do not anticipate.
The Dove - Forex Trainer
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