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USD/JPY Discussion

  • #2,781
  • Aug 15, 2007 7:58am Aug 15, 2007 7:58am
116.85 - 116.90 looks like being a tough nut to crack now.

Managed to nick a few pips selling off of it.

G-Man
  • #2,782
  • Aug 15, 2007 8:13am Aug 15, 2007 8:13am
My name is woo,from Malaysia. I am new to Forex trading and know nothing about this game, not to mention the set-up and stretegy for making some pips here or there. Can you or some one else tell me concisely how I should go about( I have some basics for technical chart-reading)?
my email is [email protected]
Thank you.

Quoting sher
5th Short at 118.42, closed 118.35, + 7 pips. Need to call it a day, late for bed.

Total collected for today 52 pips.

These trades were based on pivots retracement.

Missed out a lot of pips as the bouncing from low is very fast.

Nevertheless, I like to thank Dove for all his sharing.
  • #2,783
  • Aug 15, 2007 8:15am Aug 15, 2007 8:15am
Quoting woowk08
My name is woo,from Malaysia. I am new to Forex trading and know nothing about this game, not to mention the set-up and stretegy for making some pips here or there. Can you or some one else tell me concisely how I should go about( I have some basics for technical chart-reading)?
my email is [email protected]
Thank you.
Hi Woo, me from Malaysia too...
New Forex Trader
  • #2,784
  • Aug 15, 2007 8:55am Aug 15, 2007 8:55am
Quoting bravado
uj going up up up.
current move up on uj.

expected.
BAM BAM BOOM! -bravado
  • #2,785
  • Aug 15, 2007 9:29am Aug 15, 2007 9:29am
Pips nicely sitting in my pocket

Can call it a night soon... there'll always be another day for more!
Chances favour the prepared.
  • #2,786
  • Aug 15, 2007 9:34am Aug 15, 2007 9:34am
I borrow the confident from Dove, price has passed S1, now heading towards central 117.56 than daily, will see.
  • #2,787
  • Aug 15, 2007 11:02am Aug 15, 2007 11:02am
Quoting bravado
current move up on uj.

expected.
Would you care to share what settings, parameters, patterns or indicators led you to that expectation or was it just your crystal ball?

G-Man
  • #2,788
  • Aug 15, 2007 11:24am Aug 15, 2007 11:24am
Quoting G-Man
Would you care to share what settings, parameters, patterns or indicators led you to that expectation or was it just your crystal ball?

G-Man
bah. don't mind me saying 'expected'. i say that almost everytime i make a call-ish type post.
BAM BAM BOOM! -bravado
  • #2,789
  • Aug 15, 2007 12:08pm Aug 15, 2007 12:08pm
I don't believe that the 35 pivot is still playing hard ball..... between the 35 and 45 are two very tough pivots to get past..... It will keep bouncing off those two pivots until a break through comes about.... They are resistance and supports..... bad news coming down and bad news going up..... That is what has been happening..... So go ahead and scalp them.
The Dove - Forex Trainer
  • #2,790
  • Aug 15, 2007 12:28pm Aug 15, 2007 12:28pm
So close to the central but yet so far away.... I wonder if it make it before 17:00 ET...
The Dove - Forex Trainer
  • #2,791
  • Aug 15, 2007 12:44pm Aug 15, 2007 12:44pm
Get pass the 45 and we are home free.
The Dove - Forex Trainer
  • #2,792
  • Aug 15, 2007 12:46pm Aug 15, 2007 12:46pm
Alright - got in at the 116. 70 and took me out the central.......
The Dove - Forex Trainer
  • #2,793
  • Aug 15, 2007 12:46pm Aug 15, 2007 12:46pm
central reached..

long @ 116.75 niceeeeee
  • #2,794
  • Aug 15, 2007 12:56pm Aug 15, 2007 12:56pm
Everyone take are and God bless - will see you later.
The Dove - Forex Trainer
  • #2,795
  • Aug 15, 2007 12:56pm Aug 15, 2007 12:56pm
Good job guys.

One day I hope to be like you.....

G-Man
  • #2,796
  • Edited 1:22pm Aug 15, 2007 12:58pm | Edited 1:22pm
117.45/35 should now act as support as they were broken through.

Looking for retrace back to go long.

G-Man

edit: Well that didn't go well. Looking for support at the lower levels
  • #2,797
  • Aug 15, 2007 1:38pm Aug 15, 2007 1:38pm
Here is an hourly chart of Dollar/Yen.
Attached Image (click to enlarge)
Click to Enlarge Name: DOLLAR YEN HOURLY.jpg Size: 79 KB
  • #2,798
  • Aug 15, 2007 2:44pm Aug 15, 2007 2:44pm
Me thinks the BOJ has had enough
  • #2,799
  • Aug 15, 2007 2:52pm Aug 15, 2007 2:52pm
Quoting kingjelly
Me thinks the BOJ has had enough
what does that mean?
BAM BAM BOOM! -bravado
  • #2,800
  • Aug 15, 2007 3:01pm Aug 15, 2007 3:01pm
Quoting bravado
what does that mean?
I think he means lending Yen for them to be sold on the carry trade.

Big sell off in the last few hours following the US equity markets sell off. Interestingly the high of the bounce was at the 50% fib of the fall.

Seems like Dove's trades today were absolutely spot on. I've followed the downtrend using some of my normal indicators and patterns, but got stopped out initially looking for bounces of the levels that provided support or resistance earlier. Just plowed straight through all levels.

Just in the black for the day. Tomorrow I want to be more like Dove with pips a plenty.

He he he.

G-Man
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