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USD/JPY Discussion

  • #2,241
  • Aug 8, 2007 2:34am Aug 8, 2007 2:34am
wow I got lucky on that one, made 6 pips up to 119.18 and 5 pips on the way down. that was too risky though. Dove righton the money again, we need to wait otherwise we might as well just go to Vegas and put it all on black
  • #2,242
  • Aug 8, 2007 2:39am Aug 8, 2007 2:39am
Quoting Diesel Pips
wow I got lucky on that one, made 6 pips up to 119.18 and 5 pips on the way down. that was too risky though. Dove righton the money again, we need to wait otherwise we might as well just go to Vegas and put it all on black
Yes - it is risky when a pivot is hit..... That is one of the reason I had mention the weekly R1 at the 119.09 so you traders can learn how to become focus.. 119.09 was a problem area in which you could had taken profit at that point and got back in after the retrace and made a few extra pips more on the way to the 19..... FOCUS - is the one thing that will always keep you in the profit.
The Dove - Forex Trainer
  • #2,243
  • Aug 8, 2007 2:42am Aug 8, 2007 2:42am
Right now just be patient and enjoy the profit
The Dove - Forex Trainer
  • #2,244
  • Aug 8, 2007 2:48am Aug 8, 2007 2:48am
This had been your first experience out side the central and daily pivots..... 75% of the time when an R1 or S1 is hit - it will turn and make a trip to the opposite side of the field..... In other words...... This turn can take you all the way down to the S1.... Got the picture?
The Dove - Forex Trainer
  • #2,245
  • Aug 8, 2007 2:52am Aug 8, 2007 2:52am
Got it, I think a slight should be expected as you said. But I have worked with the Yen for a while now and sometimes it does thing I can't figure out and move in all kinds of directions I could not expect
  • #2,246
  • Aug 8, 2007 2:52am Aug 8, 2007 2:52am
As you have notice in the past, as it is doing now, a constant retrace for the pivot in which it will continue until the indicators are sync for the turn.
The Dove - Forex Trainer
  • #2,247
  • Aug 8, 2007 2:54am Aug 8, 2007 2:54am
Quoting southernmind
Looks like preparing for a breakout.
hey i wanna know how did you save the chart from fx accu?
  • #2,248
  • Edited 3:14am Aug 8, 2007 3:13am | Edited 3:14am
This kind of movement that is happening now gets a lot of traders in the hole.... Because they THINK it is going to continue up...... The only time this will continue up after hitting the pivot is IF it bust through and continues on, and if that happens on the Yen, it will make its way to the R3 or S3 on the short.
The Dove - Forex Trainer
  • #2,249
  • Aug 8, 2007 3:16am Aug 8, 2007 3:16am
This is a good opportunity to make 2-3 pips on the movement up and down. Got in at 119.18 and out at 119.22. It might break though but I would not stay in too long right now. Kind of an unusual day
  • #2,250
  • Aug 8, 2007 3:24am Aug 8, 2007 3:24am
119.30 is a real strong resistance. We've been here for the past 2 weeks. Now without any major US news for the rest of the week, I think we might be in for some more ranging. Time to scalp!
  • #2,251
  • Aug 8, 2007 3:36am Aug 8, 2007 3:36am
This is where all the rookies lose money, they are probably jumping ship right now lol thinking going long at 119.35 was the way to go
  • #2,252
  • Aug 8, 2007 4:17am Aug 8, 2007 4:17am
Well -- It is time for me to jump ship and go to bed...... The turn is still working on the sync so just keep an eye on it you should be able to see the entry point.....
Take care and God bless.
The Dove - Forex Trainer
  • #2,253
  • Aug 8, 2007 4:18am Aug 8, 2007 4:18am
liquid position

long @ 118.57 TP @ 119.23.
wanted to hold until 119.50, but the 119.30 resistance seemed so strong.

out for now
  • #2,254
  • Aug 8, 2007 4:23am Aug 8, 2007 4:23am
Oh.. Good for u.. u held on the position.. back then when you are about 100 pips down...


Quoting silverabt
liquid position

long @ 118.57 TP @ 119.23.
wanted to hold until 119.50, but the 119.30 resistance seemed so strong.

out for now
Chances favour the prepared.
  • #2,255
  • Aug 8, 2007 4:32am Aug 8, 2007 4:32am
jasonowl:


yea i did... thought about it a little after your advice...
thanks man.

Seems like its gonna be ranging between 119.30 - 118.15 thereabouts from now onwards...

your thoughts?
  • #2,256
  • Aug 8, 2007 4:40am Aug 8, 2007 4:40am
Quoting silverabt
jasonowl:


yea i did... thought about it a little after your advice...
thanks man.

Seems like its gonna be ranging between 119.30 - 118.15 thereabouts from now onwards...

your thoughts?
i think it could go south to 118.80 probably
  • #2,257
  • Aug 8, 2007 7:08am Aug 8, 2007 7:08am
the arrow shows a bearish trend is there to justify my thoughts
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  • #2,258
  • Aug 8, 2007 7:13am Aug 8, 2007 7:13am
Hey Can Anyone Tell Me What Period Should I Set My Sma And Ema For A Short Term Trade?
  • #2,259
  • Aug 8, 2007 7:50am Aug 8, 2007 7:50am
Quoting trader07
R3 - 120.18
R2 - 119.56
R1 - 119.19

Central - 118.83
Daily - 118.57

S1 - 118.20
S2 - 117.58
S3 - 117.21

One of the key issues with pivots on FX is that different numbers come out depending on what you use as the close of the day.

I have gone back through this thread and I can't see what formula you guys have been using for the calculation. I have R1 and S1 for today at 119.40 and 118.32, with the pivot point at 118.68.

Any pointers?

G-Man
  • #2,260
  • Aug 8, 2007 8:00am Aug 8, 2007 8:00am
this is what i think it could come down south to atleast 119 from here if not .10
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