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USD/JPY Discussion

  • #2,881
  • Aug 16, 2007 12:54am Aug 16, 2007 12:54am
I think I have mention this a few times but say it again as a reminder.....

Anytime a candle bust the pivot and does not retrace back inside it will continue on to the next pivot..... If the retrace does come back inside then it will turn. It doesn't matter how many times it goes through that pivot it still will turn.
The Dove - Forex Trainer
  • #2,882
  • Aug 16, 2007 12:58am Aug 16, 2007 12:58am
look dove it goes to R2?
  • #2,883
  • Aug 16, 2007 1:00am Aug 16, 2007 1:00am
In this case I would assume in your case the 20min Timeframe.
Don't want someone on 3-5mins getting whipped saw at the Pivot
Just my input..

Quoting dove_alliance
I think I have mention this a few times but say it again as a reminder.....

Anytime a candle bust the pivot and does not retrace back inside it will continue on to the next pivot..... If the retrace does come back inside then it will turn. It doesn't matter how many times it goes through that pivot it still will turn.
Chances favour the prepared.
  • #2,884
  • Aug 16, 2007 1:05am Aug 16, 2007 1:05am
Quoting jasonowl
In this case I would assume in your case the 20min Timeframe.
Don't want someone on 3-5mins getting whipped saw at the Pivot
Just my input..
It doesn't matter which time frame you are on because any of the candles will retrace...... So, if any of them retrace back inside the pivot then it doesn't matter how many times it bust through because all it takes is just one retrace back inside, even if it was just one pip.
The Dove - Forex Trainer
  • #2,885
  • Aug 16, 2007 1:10am Aug 16, 2007 1:10am
If you take a look at all the timeframes on the movement down you will not see any retraces as it bust through the S1 - it just kept going.
The Dove - Forex Trainer
  • #2,886
  • Aug 16, 2007 1:14am Aug 16, 2007 1:14am
Ah Yes, movement down...thanks for the clarification.

Otherwise you be caught with the recent move up on S1 if u entered ur trade there. I'm not here to refute, just to ensure we never be to absolute/conclusive about things of nature...

http://img27.picoodle.com/img/img27/...0m_7938681.jpg

Quoting dove_alliance
If you take a look at all the timeframes on the movement down you will not see any retraces as it bust through the S1 - it just kept going.
Chances favour the prepared.
  • #2,887
  • Aug 16, 2007 1:16am Aug 16, 2007 1:16am
For right now it looks as though it will continue to the Central
The Dove - Forex Trainer
  • #2,888
  • Aug 16, 2007 1:18am Aug 16, 2007 1:18am
Quoting dove_alliance
I think I have mention this a few times but say it again as a reminder.....

Anytime a candle bust the pivot and does not retrace back inside it will continue on to the next pivot..... If the retrace does come back inside then it will turn. It doesn't matter how many times it goes through that pivot it still will turn.
Sometimes it will bust the pivot but then hover a bit before turning around... The trend has to also support the break and other indicators, right?
  • #2,889
  • Aug 16, 2007 1:22am Aug 16, 2007 1:22am
Quoting trader07
Sometimes it will bust the pivot but then hover a bit before turning around... The trend has to also support the break and other indicators, right?
Not always - you may get the next candle retrace back to the pivot but it will continue from there.
The Dove - Forex Trainer
  • #2,890
  • Aug 16, 2007 1:22am Aug 16, 2007 1:22am
some is in trade?
  • #2,891
  • Aug 16, 2007 1:24am Aug 16, 2007 1:24am
Quoting trader07
Sometimes it will bust the pivot but then hover a bit before turning around... The trend has to also support the break and other indicators, right?
Now, if you are talking about the retrace itself will depend on how hard it bounce off. I have seen it retrace as much as 60 pips before coming back.... So it all depends of the power of the drive.
The Dove - Forex Trainer
  • #2,892
  • Aug 16, 2007 1:30am Aug 16, 2007 1:30am
USDJPY

USDJPY broke below 117.15 previous low and reached as low as 116.23 so far. Further fall towards 115.50 is still possible later today. Near term resistance is at the price channel, and as long as the channel resistance holds, down trend will continue.
If I Go Broke Trying Then I Will die happy.
  • #2,893
  • Aug 16, 2007 1:32am Aug 16, 2007 1:32am
Quoting Moe
USDJPY

USDJPY broke below 117.15 previous low and reached as low as 116.23 so far. Further fall towards 115.50 is still possible later today. Near term resistance is at the price channel, and as long as the channel resistance holds, down trend will continue.
If you say so.......
The Dove - Forex Trainer
  • #2,894
  • Aug 16, 2007 1:35am Aug 16, 2007 1:35am
Right back to the R2 and now the 70 for a continuation.... If not then another turn around.
The Dove - Forex Trainer
  • #2,895
  • Aug 16, 2007 1:36am Aug 16, 2007 1:36am
It broke the pivot 115.87...
  • #2,896
  • Aug 16, 2007 1:37am Aug 16, 2007 1:37am
Think u meant S2...

Quoting dove_alliance
Right back to the R2 and now the 70 for a continuation.... If not then another turn around.
Chances favour the prepared.
  • #2,897
  • Aug 16, 2007 1:37am Aug 16, 2007 1:37am
Quoting dove_alliance
If you say so.......
l.m.a.o.a.y.
If I Go Broke Trying Then I Will die happy.
  • #2,898
  • Aug 16, 2007 1:39am Aug 16, 2007 1:39am
With the new fibo the 138.2 ext is at the 79
The Dove - Forex Trainer
  • #2,899
  • Aug 16, 2007 1:42am Aug 16, 2007 1:42am
i think it goes very fast to 117 before retrace
  • #2,900
  • Aug 16, 2007 1:43am Aug 16, 2007 1:43am
Quoting jasonowl
Think u meant S2...
Yea - S2 "smiling"
The Dove - Forex Trainer
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