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USD/JPY Discussion

  • #2,321
  • Aug 9, 2007 10:19am Aug 9, 2007 10:19am
Quoting moneypip
Dove has said he is done posting here.
Look back 2 pages
yap. got the link from islander.

used to just see him here every time i logged on.
he seemed pretty cool.

didn't keep track of what he said, so not sure if he is a good trader or not.

he'll probably be back.
BAM BAM BOOM! -bravado
  • #2,322
  • Aug 9, 2007 10:21am Aug 9, 2007 10:21am
Just pulled another 8 pips out on a scalp long.

I spologise but I should post trades before so I will endeavour to do so. Quick markets make you forget though.

Total pips for today: 41. Hardly great on a 150 pip day but I'll go for that.

G-Man
  • #2,323
  • Aug 9, 2007 10:31am Aug 9, 2007 10:31am
Quoting jasonowl
Hey Dove, wherever ur at or whatever ur doing right now.
Good luck.

Do hope you return someday.
Now back to business....
Hey Jason
How did you know the trend was down?
The price at the time was hovering around the central pivot
  • #2,324
  • Aug 9, 2007 10:34am Aug 9, 2007 10:34am
Quoting s3padrian
It's going to go for the weekly trend line ..and probably take it out.
Which open, closes, highs, and lows do you use to find the weekly pivots?

Thanks
  • #2,325
  • Aug 9, 2007 11:05am Aug 9, 2007 11:05am
Quoting trader07
Which open, closes, highs, and lows do you use to find the weekly pivots?

Thanks
from last weeks candle on the weekly chart.


Open 118.43
High 119.48
Low 117.59
Close 117.95
slowly but steady is the answer.
  • #2,326
  • Aug 9, 2007 12:19pm Aug 9, 2007 12:19pm
Quoting G-Man
Hi guys,
I've never been great at posting charts but I will try and if can't do the charts I will still post my trades to see if we can all help each other together.

Hope this little doc helps.

Good trading everyone.

G-Man
Hi G-Man, thank-you for the document. It's help full. Hope to see your charts soon.

Jackt
  • #2,327
  • Aug 9, 2007 2:04pm Aug 9, 2007 2:04pm
Wonder if it's too late in the day to get down to S3, at 117.95.

Haven't placed any positions recently except a 25 piper on GU. Volatility been a bit too great but it looks again like it is following the US equity markets.

G-Man
  • #2,328
  • Aug 9, 2007 2:44pm Aug 9, 2007 2:44pm
Quoting G-Man
Wonder if it's too late in the day to get down to S3, at 117.95.

Haven't placed any positions recently except a 25 piper on GU. Volatility been a bit too great but it looks again like it is following the US equity markets.

G-Man

Tokyo will probably take it lower
  • #2,329
  • Aug 9, 2007 5:49pm Aug 9, 2007 5:49pm
Hi All I have been watching and listening to all of you and Dove(Sorry to see him leave) for the last week and have been learning some stuff about the JPY
and charts. I am still trying to learn about the pivit points they seem to be a bit confusing when I put them on but I guess you have to get use to them and learn more about them as with any indicators. I have made 150 pips this week on the USD/JPY but I think I got lucky.. I am going to read up more on the pivit points and search back a bit on this forum to see what Dove has been talking about and the rest of you and hope I can learn more..If anyone can help me on any other useful indicators to use please let me know..I know everyone gets a different way of trading that they are use too but hopefuly I can find something that works for me... I have been using the RSI, ADX, MACD and ATR... Not sure if they are right one for trend trading but I have just been watching them to see what they do....

  • #2,330
  • Aug 9, 2007 5:53pm Aug 9, 2007 5:53pm
Everyone has their own style, if it works for you use it. If not, discard it. Be flexible and find one that suits you.
Patience + Humility + Study = Success
  • #2,331
  • Aug 9, 2007 7:57pm Aug 9, 2007 7:57pm
Thank you DutchTrader... I am trying to get use to the ones that I am using and watching them what they do when the market moves.. I have only been doing this for about 2 months and started with a mini account and still have over half my account.. and now learning more and getting some good trades in.. I like the USD/JPY.. I started with the EUR/USD..I am sticking with one chart now and learn how it moves and study it...Thanks again

Slkosier
  • #2,332
  • Aug 9, 2007 8:07pm Aug 9, 2007 8:07pm
Quoting Slkosier
Thank you DutchTrader... I am trying to get use to the ones that I am using and watching them what they do when the market moves.. I have only been doing this for about 2 months and started with a mini account and still have over half my account.. and now learning more and getting some good trades in.. I like the USD/JPY.. I started with the EUR/USD..I am sticking with one chart now and learn how it moves and study it...Thanks again

Slkosier
Good website to check out is babypips.com...
  • #2,333
  • Aug 9, 2007 8:27pm Aug 9, 2007 8:27pm
Can somebody explain to me how Ben can say everything is fine and the next day the feds have to add $24 billion, you would think they would had to have a better idea of liquidity a day before??? Is this Professor right for the job?

http://forexfactory.com/images/misc/progress.gif

  • #2,334
  • Aug 9, 2007 9:48pm Aug 9, 2007 9:48pm
Hesitation at 118.21 Central Pivot...
Wait on it... as Dove would put it watch your 5min charts!
Chances favour the prepared.
  • #2,335
  • Aug 9, 2007 10:08pm Aug 9, 2007 10:08pm
There she blows!!
Patience + Humility + Study = Success
  • #2,336
  • Aug 9, 2007 11:27pm Aug 9, 2007 11:27pm
Hi all,

at 19.00 ET, M30 n H1 closed below central pivot, i was thinking uj will down to S1, it didnt (yet)..

after touching 78.6 fibo level, it was retrace to central pivot n so far it doesnt closed above (@M30 n H1)..

my question about dove's pivot is, we aren't looking for north because S1 has not hit yet, right?
  • #2,337
  • Aug 9, 2007 11:31pm Aug 9, 2007 11:31pm
I think by tomorrow morning it will be will be up again. Yen is a different animal from all currency thats out there. I'm looking to go long in when it dips a bit more, and then hold til miday tomorrow. Otherwise wait until Sunday and play it safe.
  • #2,338
  • Edited 11:46pm Aug 9, 2007 11:35pm | Edited 11:46pm
EUR, GBP and USD/JPY are at major weekly support levels so a bounce should expected.Or not You gotta love this contagion. No parameters, just sheer panic.
Patience + Humility + Study = Success
  • #2,339
  • Aug 9, 2007 11:47pm Aug 9, 2007 11:47pm
Honestly you can use all the charts that are available, but at the end we are making the very best guess we can. I trade the yen all the time and there are days where I really think its a perfect trade and enter at the right position, but it goes the other way. As long as you dont trade more than your account can handle be confident put the trade in and dont stare at it lol
  • #2,340
  • Aug 9, 2007 11:51pm Aug 9, 2007 11:51pm
Quoting Diesel Pips
Honestly you can use all the charts that are available, but at the end we are making the very best guess we can. I trade the yen all the time and there are days where I really think its a perfect trade and enter at the right position, but it goes the other way. As long as you dont trade more than your account can handle be confident put the trade in and dont stare at it lol
Precisely. That's my point, this is panic selling and that throws all techs out th window. Like a friend of mine likes to call it "Chart Breakdown" where you just go with your instincts.
Patience + Humility + Study = Success
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