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USD/JPY Discussion

  • #3,841
  • Aug 21, 2007 11:40pm Aug 21, 2007 11:40pm
Quoting dove_alliance
114.80 will be a tough one due to it being the weekly pivot.
Interesting, it sure will be a challenge for it.
"Don't work for your money, but let money work for you."
  • #3,842
  • Aug 21, 2007 11:42pm Aug 21, 2007 11:42pm
Is it going for 115.08?
  • #3,843
  • Aug 21, 2007 11:44pm Aug 21, 2007 11:44pm
Dove would 114.94 be midpoint between the weekly of 114.80 and R1 115.08?
  • #3,844
  • Aug 21, 2007 11:46pm Aug 21, 2007 11:46pm
Quoting chady250
Interesting, it sure will be a challenge for it.
Yep - it is a challenge but I rather keep the profit then take the chance because there could be some retraces before hitting the R1. If not, then I made enough on this run not to even worry about it and then catch the trip back or to the next level.
The Dove - Forex Trainer
  • #3,845
  • Aug 21, 2007 11:48pm Aug 21, 2007 11:48pm
retrace to 11462 area?
  • #3,846
  • Aug 21, 2007 11:49pm Aug 21, 2007 11:49pm
Quoting trader07
Dove would 114.94 be midpoint between the weekly of 114.80 and R1 115.08?
Yes it is.
The Dove - Forex Trainer
  • #3,847
  • Aug 21, 2007 11:49pm Aug 21, 2007 11:49pm
Quoting dove_alliance
Yep - it is a challenge but I rather keep the profit then take the chance because there could be some retraces before hitting the R1. If not, then I made enough on this run not to even worry about it and then catch the trip back or to the next level.
Hi Dove, I have one question about the 115.00 mark. If momentum is going up and prices are nearing 115.00, will it be a psychological goal for traders to push it to 115.00, then again, it will be the same psychological goal for sellers to push it away from 115.00.
"Don't work for your money, but let money work for you."
  • #3,848
  • Aug 21, 2007 11:50pm Aug 21, 2007 11:50pm
Quoting mjolimer
retrace to 11462 area?
Retraces will be around the pivot at the 114.80
The Dove - Forex Trainer
  • #3,849
  • Aug 21, 2007 11:52pm Aug 21, 2007 11:52pm
Quoting chady250
Hi Dove, I have one question about the 115.00 mark. If momentum is going up and prices are nearing 115.00, will it be a psychological goal for traders to push it to 115.00, then again, it will be the same psychological goal for sellers to push it away from 115.00.
To be honest with you I have no idea..... All I know is how these pivots work.
The Dove - Forex Trainer
  • #3,850
  • Aug 21, 2007 11:53pm Aug 21, 2007 11:53pm
Quoting dove_alliance
Retraces will be around the pivot at the 114.80

cool. thankyou. i'm new to this pair.. but looks quite well behaved.. (so far)
  • #3,851
  • Aug 21, 2007 11:57pm Aug 21, 2007 11:57pm
Quoting dove_alliance
To be honest with you I have no idea..... All I know is how these pivots work.
Yea, I too have no idea about it, I'm trying to see if I can integrate those types of areas into my system. So far I've had some correct, while some incorrect.
"Don't work for your money, but let money work for you."
  • #3,852
  • Aug 21, 2007 11:57pm Aug 21, 2007 11:57pm
Dove do some midpoints hold more weight than others? Example, there's a midpoint of 114.75 which is the central 114.42 and R1 115.08 but the market stopped at 114.67 the midpoint between the weekly 114.80 and the daily 114.54... How do you know which is more important? Is it the pivot which was passed and the next pivot that is the most important, which is why once we got to 114.54 the 114.67 took precedence over 114.75?

Thank you
  • #3,853
  • Aug 22, 2007 12:07am Aug 22, 2007 12:07am
Dove how many pips does the market have to move before you move your stop up for a 3 pip profit?
  • #3,854
  • Aug 22, 2007 12:08am Aug 22, 2007 12:08am
How I operate on the 50% is that I have my original entry with the limit in this case was the 114.80 - At the 50%, after the retrace, I paced another order and did so at the 60 with a limit set at the same spot 114.80 which give me two trades going after the same pivot..... Right now we are going through the retraces due to the weekly pivot ..... After it is completed I then will enter again for the R1.... Now, if this continues on past the weekly pivot then there will be a different strategy.
The Dove - Forex Trainer
  • #3,855
  • Aug 22, 2007 12:11am Aug 22, 2007 12:11am
Quoting trader07
Dove how many pips does the market have to move before you move your stop up for a 3 pip profit?
right at the 50% is where I move my stop
The Dove - Forex Trainer
  • #3,856
  • Aug 22, 2007 12:13am Aug 22, 2007 12:13am
Quoting trader07
Dove do some midpoints hold more weight than others? Example, there's a midpoint of 114.75 which is the central 114.42 and R1 115.08 but the market stopped at 114.67 the midpoint between the weekly 114.80 and the daily 114.54... How do you know which is more important? Is it the pivot which was passed and the next pivot that is the most important, which is why once we got to 114.54 the 114.67 took precedence over 114.75?

Thank you
The most heaviest midpoint takes presences over most which are the midpoints of the centrals and main pivots, such as the daily and weekly.
The Dove - Forex Trainer
  • #3,857
  • Aug 22, 2007 12:23am Aug 22, 2007 12:23am
Don't anyone jump in yet because we are still in the retrace mode.
The Dove - Forex Trainer
  • #3,858
  • Aug 22, 2007 12:29am Aug 22, 2007 12:29am
Quoting dove_alliance
Don't anyone jump in yet because we are still in the retrace mode.
You think it's going to retrace lower than 114.80?
  • #3,859
  • Aug 22, 2007 12:29am Aug 22, 2007 12:29am
the long shot did hold up after all
easy 50 to 80 pips on the up and another 10 or more at 115

everyone is having a whale of their time today..
  • #3,860
  • Aug 22, 2007 12:30am Aug 22, 2007 12:30am
Quoting dove_alliance
Don't anyone jump in yet because we are still in the retrace mode.
After 114.80 we look for 114.67, right?
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