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USD/JPY Discussion

  • #3,921
  • Aug 22, 2007 12:48pm Aug 22, 2007 12:48pm
Quoting dove_alliance
What I don't understand is why would anyone think about, or even talk about, going against the trend. - Oh well, each to his own.
dove,

please explain.
  • #3,922
  • Aug 22, 2007 12:48pm Aug 22, 2007 12:48pm
Quoting leachimeewg
chady250,

The next 4 hours could see a huge move downwards. likely before or after Sydney Markets.

Examine your charts on 15min 30min 1hr 4hr trends.
Looks like we are breaking back above R1 if it holds.

Could still head downwards of course.

G-Man
  • #3,923
  • Aug 22, 2007 12:55pm Aug 22, 2007 12:55pm
Quoting G-Man
Looks like we are breaking back above R1 if it holds.

Could still head downwards of course.

G-Man
if the 1hr chart holds and we see 115.25 this could turn into a triple top.
  • #3,924
  • Aug 22, 2007 1:23pm Aug 22, 2007 1:23pm
Yeah, not much follow through.

Stopped again at 115.16 which Dove mentioned earlier as a key level. Can't remember how it was derived though.

G-Man
  • #3,925
  • Aug 22, 2007 1:26pm Aug 22, 2007 1:26pm
Quoting leachimeewg
what level you holding at?

might not need to break 114.80, this doesn't look like a level head and shoulders.

tilt your head to the left a little and look.
got it!
  • #3,926
  • Aug 22, 2007 1:31pm Aug 22, 2007 1:31pm
I don't like dancing around candles.. hard work. lol..
seems that its the only way to make some pips tonite..

push doesn't seem strong enough..
looking towards push at 114.70 *sleepy*
  • #3,927
  • Aug 22, 2007 2:19pm Aug 22, 2007 2:19pm
Quoting leachimeewg
I don't like dancing around candles.. hard work. lol..
seems that its the only way to make some pips tonite..

push doesn't seem strong enough..
looking towards push at 114.70 *sleepy*
Guess you're deep in the hole about now?
The Dove - Forex Trainer
  • #3,928
  • Edited 2:38pm Aug 22, 2007 2:22pm | Edited 2:38pm
nope.. i took my pips +10 pips and left..
i realize it wasn't going to push through.

Gdnite folks. i'm no dove but 55pips is gd enuff.
overall strength on the long end..
  • #3,929
  • Aug 22, 2007 2:44pm Aug 22, 2007 2:44pm
Stalled out again at 115.16. Could move quickly if it breaks above.

G-Man
  • #3,930
  • Aug 22, 2007 2:55pm Aug 22, 2007 2:55pm
I made 3 trips between the 114.84 and the 115.16 just using pivots, with a total of 75 pips is what I made...... Here, everyone else is talking about head and shoulder, triple tops, and going short - against the trend for one thing, and no telling what else..... I have nothing against using these type of indicators provided they are used in the right context. I hope this prove something......
The Dove - Forex Trainer
  • #3,931
  • Aug 22, 2007 3:05pm Aug 22, 2007 3:05pm
Hi Dove..

Did you take those moves both ways or just long?
  • #3,932
  • Aug 22, 2007 3:06pm Aug 22, 2007 3:06pm
Quoting mjolimer
Hi Dove..

Did you take those moves both ways or just long?
I said I made 3 trips - up, down, and up. Using the pivots in that range.....
The Dove - Forex Trainer
  • #3,933
  • Aug 22, 2007 3:09pm Aug 22, 2007 3:09pm
Quoting dove_alliance
I made 3 trips between the 114.84 and the 115.16 just using pivots, with a total of 75 pips is what I made...... Here, everyone else is talking about head and shoulder, triple tops, and going short - against the trend for one thing, and no telling what else..... I have nothing against using these type of indicators provided they are used in the right context. I hope this prove something......
Why are 114.84 and 115.16 pivots?
  • #3,934
  • Aug 22, 2007 3:09pm Aug 22, 2007 3:09pm
For right now that round robin is finished because the trend is up.
The Dove - Forex Trainer
  • #3,935
  • Aug 22, 2007 3:10pm Aug 22, 2007 3:10pm
Was just trying to understand when to take them both ways.. you use the 1hr chart to define the trend? So if it is ranging then go ether way.. ?
  • #3,936
  • Aug 22, 2007 3:11pm Aug 22, 2007 3:11pm
Quoting trader07
Why are 114.84 and 115.16 pivots?
This is where you have to be focused of the turning pivots in the trend..... Go back to where I was talking about watching the 114.26 last night and you should get an understanding on those type of pivots.
The Dove - Forex Trainer
  • #3,937
  • Aug 22, 2007 3:30pm Aug 22, 2007 3:30pm
When it retraced back to the R1 it turned and I got back in at the 11 took profit at the 28 because the candle hit the 1 hour bollinger band and now I'm finished until 20:00 ET this evening.
The Dove - Forex Trainer
  • #3,938
  • Aug 22, 2007 3:59pm Aug 22, 2007 3:59pm
There were several attempts to push this below the weekly pivot (114.80) and did not succeed. The 1 hour is very conclusive on the trend being up... Now, I will not sign this in blood but, because of this trend and the pivots, I would foresee this staying up through the BOJ announcement. This is only my intake of the indicators I use and since indicators are not 100%, as always, anything can happen.
The Dove - Forex Trainer
  • #3,939
  • Aug 22, 2007 4:07pm Aug 22, 2007 4:07pm
R3 -117.29
R2 - 116.36
R1 - 115.84

DAILY - 114.91
CENTRAL - 115.31

S1 - 114.39
S2 - 113.46
S3 - 112.94

See you guys later and blessings.
The Dove - Forex Trainer
  • #3,940
  • Aug 22, 2007 4:17pm Aug 22, 2007 4:17pm
Quoting dove_alliance
I made 3 trips between the 114.84 and the 115.16 just using pivots, with a total of 75 pips is what I made...... Here, everyone else is talking about head and shoulder, triple tops, and going short - against the trend for one thing, and no telling what else..... I have nothing against using these type of indicators provided they are used in the right context. I hope this prove something......
Great going Dove.

I had a feeling you were raking in some pips in that range. I was trying to emulate you then and did pull a few out, but 3 times stopped short of the total move and the last position (sell) got stoppped out taking some of the profits back. Shouldn't have really taken this as my indicators were showing a stronger buy than the previous shorts.

I only took it as I was trying to make some more pips as I had short changed myself. Which leads to a lesson for new traders: Always take each trade on it's individual merits and don't let what has happened previously effect your trading.

Catch you later.

G-Man
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