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USD/JPY Discussion

  • #3,701
  • Aug 21, 2007 4:33pm Aug 21, 2007 4:33pm
R3 – 116.30

M6 - 116.03

R2 – 115.76

M5 - 115.42

R1 - 115.08

M4 - 114.81


Daily Pivot – 114.54


M3 - 114.20

S1 – 113.86

M1 - 113.59

S2 – 113.32

M0 - 112.98

S3 – 112.64



Also :

R1 - 115.08


M8 - 114.75


CENTRAL PIVOT - 114.42


M7 - 114.14

S1 – 113.86



I hope I didn't make any mistakes This time I decided to take DOVE pivots and put midpoints which are our infamous "50% retracements" Moreover,I put the nearest midpoints also for CENTRAL PIVOT.

Hope it helps somehow though I see mess on my chart - Weekly Pivots mixed with Daily and Midpoints - as Dove predicted we gonna have problematic session as long as we don't have breakout
  • #3,702
  • Edited 4:44pm Aug 21, 2007 4:42pm | Edited 4:44pm
Quoting PolishTrader
R3 – 116.30

M6 - 116.03

R2 – 115.76

M5 - 115.42

R1 - 115.08

M4 - 114.81


Daily Pivot – 114.54


M3 - 114.20

S1 – 113.86

M1 - 113.59

S2 – 113.32

M0 - 112.98

S3 – 112.64



Also :

R1 - 115.08


M8 - 114.75


CENTRAL PIVOT - 114.42


M7 - 114.14

S1 – 113.86



I hope I didn't make any mistakes This time I decided to take DOVE pivots and put midpoints which are our infamous "50% retracements" Moreover,I put the nearest midpoints also for CENTRAL PIVOT.

Hope it helps somehow though I see mess on my chart - Weekly Pivots mixed with Daily and Midpoints - as Dove predicted we gonna have problematic session as long as we don't have breakout
That's good idea to calculate all the midpoints in advance... Dove do you do the same and do you set limits at the midpoints or just at the major pivots? I sure it is confusing on the chart...
  • #3,703
  • Aug 21, 2007 5:12pm Aug 21, 2007 5:12pm
Quoting trader07
That's good idea to calculate all the midpoints in advance... Dove do you do the same and do you set limits at the midpoints or just at the major pivots? I sure it is confusing on the chart...
The midpoint is a very good and useful tool and I don't use them because I also have focus on the weekly pivots.... I do have them mark down on paper and not on my charts because - smiling - that is a lot of lines..... Just like this drive down it hit the midpoint (50%) and retraced. How far this will retrace, have no idea.... This is why I do not get into the retrace.... As for setting my limit I always do so at the next pivot with a stop no less then 3 pip profit.... Now, I'm not saying for you to this because it is always good to take profit and if the spread is wide enough then set a limit to the midpoint, there is nothing wrong with that.
The Dove - Forex Trainer
  • #3,704
  • Aug 21, 2007 5:24pm Aug 21, 2007 5:24pm
Didn't we broke through this trendline which I mentioned few hours before ?

Just curious ....
  • #3,705
  • Aug 21, 2007 5:25pm Aug 21, 2007 5:25pm
I keep hearing you guys talk about the 50% retracement. What lines do you base the 50% retracement on? Is it between every pivot point?
  • #3,706
  • Aug 21, 2007 5:26pm Aug 21, 2007 5:26pm
Quoting southernmind
I keep hearing you guys talk about the 50% retracement. What lines do you base the 50% retracement on? Is it between every pivot point?
50% between each pivot including the weekly..... Which is the half way mark between those pivots.
The Dove - Forex Trainer
  • #3,707
  • Aug 21, 2007 5:42pm Aug 21, 2007 5:42pm
dove,

what would you consider a breakout, towards the downside?
  • #3,708
  • Aug 21, 2007 5:47pm Aug 21, 2007 5:47pm
We had a very strong down trend that kicked in at 17:20 ET.
The Dove - Forex Trainer
  • #3,709
  • Aug 21, 2007 5:48pm Aug 21, 2007 5:48pm
Quoting kreeper_6
dove,

what would you consider a breakout, towards the downside?
Breakout is on the daily trend..... it could be either way.
The Dove - Forex Trainer
  • #3,710
  • Aug 21, 2007 6:00pm Aug 21, 2007 6:00pm
What is happening here is the 50% retrace for the weekly central and the S1 which is the 114.12
The Dove - Forex Trainer
  • #3,711
  • Aug 21, 2007 6:10pm Aug 21, 2007 6:10pm
Keep an eye on the 114.26 and lets see what happens.
The Dove - Forex Trainer
  • #3,712
  • Aug 21, 2007 6:17pm Aug 21, 2007 6:17pm
Quoting dove_alliance
Keep an eye on the 114.26 and lets see what happens.
looks like it hit a wall there, would that signal a lid?

edit...spoke too soon
  • #3,713
  • Aug 21, 2007 7:02pm Aug 21, 2007 7:02pm
Can anyone tell me why I had you kept an eye on the 114.26?
The Dove - Forex Trainer
  • #3,714
  • Aug 21, 2007 7:05pm Aug 21, 2007 7:05pm
Quoting dove_alliance
Can anyone tell me why I had you kept an eye on the 114.26?
besides the fib pivot, I don't know.

I hope it wasn't an up signal?

I'm seeing a bounce down from the daily central...
  • #3,715
  • Aug 21, 2007 7:08pm Aug 21, 2007 7:08pm
don't leave me hanging...
  • #3,716
  • Aug 21, 2007 7:10pm Aug 21, 2007 7:10pm
Quoting dove_alliance
Can anyone tell me why I had you kept an eye on the 114.26?
The original drive down came from the daily central..... The first retrace was at the 114.20 and retraced to 114.26 which became the turning pivot for any retraces on this drive down to the S1..... on this last retrace it hit the 114.26 and then rocked the boat for awhile and then continue to the central pivot.... If it had not rocked the boat, the turn around would of happened at that turn pivot.

Now you know.
The Dove - Forex Trainer
  • #3,717
  • Aug 21, 2007 7:11pm Aug 21, 2007 7:11pm
Quoting dove_alliance
Can anyone tell me why I had you kept an eye on the 114.26?
cos of 50% retracement
  • #3,718
  • Aug 21, 2007 7:13pm Aug 21, 2007 7:13pm
Quoting dove_alliance
The original drive down came from the daily central..... The first retrace was at the 114.20 and retraced to 114.26 which became the turning pivot for any retraces on this drive down to the S1..... on this last retrace it hit the 114.26 and then rocked the boat for awhile and then continue to the central pivot.... If it had not rocked the boat, the turn around would of happened at that turn pivot.

Now you know.
so you are saying the central was the turning point again.

I had a short on that touch, looking for s1 & further
  • #3,719
  • Aug 21, 2007 7:16pm Aug 21, 2007 7:16pm
Quoting kreeper_6
so you are saying the central was the turning point again.

I had a short on that touch, looking for s1 & further
If it had not turned at the turning pivot then yes, it will return from where it came from and that was the daily central and then turned from there.
The Dove - Forex Trainer
  • #3,720
  • Aug 21, 2007 7:25pm Aug 21, 2007 7:25pm
I think some of you are getting a better understanding of pivots.... I'm sure you have wondered in the past why would a trend come to a stop and go no further but only turn..... Not only you have the weekly and daily pivots but also the turning pivots in the trend.... And now you are seeing it at work.
The Dove - Forex Trainer
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