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  • #3,961
  • Aug 22, 2007 11:58pm Aug 22, 2007 11:58pm
i entered 115.95...thinking on where i should put my stop loss..ill go for the 116.32 as tp..got any ideas as for a stop??
  • #3,962
  • Edited 12:10am Aug 23, 2007 12:08am | Edited 12:10am
Quoting MLM12
i entered 115.95...thinking on where i should put my stop loss..ill go for the 116.32 as tp..got any ideas as for a stop??
Not sure it's in a downtrend now... That's why I would have waited... the next level of support is 115.58, which is the 50% retrace... After that the Central at 115.32...
  • #3,963
  • Aug 23, 2007 12:22am Aug 23, 2007 12:22am
Quoting trader07
Not sure it's in a downtrend now... That's why I would have waited... the next level of support is 115.58, which is the 50% retrace... After that the Central at 115.32...
Trader, Can you do the math for me on the 50% retrace and your central pivot?

Thanks...
  • #3,964
  • Aug 23, 2007 12:26am Aug 23, 2007 12:26am
Quoting sierra_hotel
Trader, Can you do the math for me on the 50% retrace and your central pivot?

Thanks...
To find midpoints all you have to do is add the two pivots and divide by 2...

115.84 + 115.32 = 231.16/2 = 115.58 (First test of resistence... it's getting close..)

DAILY PIVOTS
(8/22/07)

USD/JPY

R3 – 117.29
R2 – 116.36
R1 – 115.84

Midpoint (50% Retrace): 115.58

Central – 115.32
Daily – 114.91

S1 – 114.39
S2 – 113.46
S3 – 112.94
  • #3,965
  • Aug 23, 2007 12:35am Aug 23, 2007 12:35am
It really is a shame how the banks or whoever is the big money in forex move the market to take out positions. What valid reason could there be for the yen to be gaining strength right now? None that I can see. It truly is something to see how this market is traded..
  • #3,966
  • Aug 23, 2007 12:56am Aug 23, 2007 12:56am
anyone long yet? or waiting for speech?
  • #3,967
  • Aug 23, 2007 1:02am Aug 23, 2007 1:02am
Quoting trader07
To find midpoints all you have to do is add the two pivots and divide by 2...

115.84 + 115.32 = 231.16/2 = 115.58 (First test of resistence... it's getting close..)

DAILY PIVOTS
(8/22/07)

USD/JPY

R3 – 117.29
R2 – 116.36
R1 – 115.84

Midpoint (50% Retrace): 115.58

Central – 115.32
Daily – 114.91

S1 – 114.39
S2 – 113.46
S3 – 112.94



Any other ideas on how to find pivots and retracements?...
  • #3,968
  • Aug 23, 2007 1:16am Aug 23, 2007 1:16am
Quoting southernmind
It really is a shame how the banks or whoever is the big money in forex move the market to take out positions. What valid reason could there be for the yen to be gaining strength right now? None that I can see. It truly is something to see how this market is traded..
They especially do this in the European markets... They are notorious stop hunters...
  • #3,969
  • Aug 23, 2007 1:16am Aug 23, 2007 1:16am
Quoting southernmind
It really is a shame how the banks or whoever is the big money in forex move the market to take out positions. What valid reason could there be for the yen to be gaining strength right now? None that I can see. It truly is something to see how this market is traded..
Until we get rid of Bush...expect more of the same. There is no logical reason why this happened! Although I'm sure some Forex experts can give you a logical reason...I can't! Expect the unexpected in Forex. I can't wait to hear the reasoning.
The Only Constant Is Change!
  • #3,970
  • Aug 23, 2007 1:17am Aug 23, 2007 1:17am
Quoting MLM12
Any other ideas on how to find pivots and retracements?...
One pip from 115.58 and it turned around... Wow... Not really did you download the pivot program?
  • #3,971
  • Aug 23, 2007 1:17am Aug 23, 2007 1:17am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting mjolimer
anyone long yet? or waiting for speech?
I'm waiting for MACD to cross above its signal line on the daily chart..
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #3,972
  • Aug 23, 2007 1:18am Aug 23, 2007 1:18am
Price bounced just one pip above the 50% retrace of 115.58.. These pivots really do work it seems.
  • #3,973
  • Aug 23, 2007 1:19am Aug 23, 2007 1:19am
Hey Guys anyone planning on shorting the yen at 116.00??
"Don't work for your money, but let money work for you."
  • #3,974
  • Aug 23, 2007 1:20am Aug 23, 2007 1:20am
Quoting southernmind
Price bounced just one pip above the 50% retrace of 115.58.. These pivots really do work it seems.
Yeah it's amazing!
  • #3,975
  • Aug 23, 2007 1:32am Aug 23, 2007 1:32am
Quoting trader07
Yeah it's amazing!
i'd like to know why it is bouncing off around 115.92?
  • #3,976
  • Aug 23, 2007 1:39am Aug 23, 2007 1:39am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting kreeper_6
i'd like to know why it is bouncing off around 115.92?
Strange, isn't it?.. Shouldn't UJ skyrocketting by now after Fukui made his speech public?..
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #3,977
  • Aug 23, 2007 1:58am Aug 23, 2007 1:58am
Quoting CWH
Strange, isn't it?.. Shouldn't UJ skyrocketting by now after Fukui made his speech public?..
watch the london open bar... that should have a bit more direction in it.. hopefully long..

i went long at 11580 target 11630 stop 11520 so let's see if London agrees with me and my indicators..

It may go down to 11560 before going back up by the way..
  • #3,978
  • Aug 23, 2007 2:12am Aug 23, 2007 2:12am
Seems Like A Very Strong Resistance Of 115.86 Is Not Letting It Go Up
  • #3,979
  • Aug 23, 2007 2:16am Aug 23, 2007 2:16am
Quoting chady250
Hey Guys anyone planning on shorting the yen at 116.00??
the trend is still up like dove said earlier (wish i took his advice) and UJ is forming a flag in the up trend on the 15M. looks to me like UJ is going nowhere but up @ 116.00
  • #3,980
  • Aug 23, 2007 3:00am Aug 23, 2007 3:00am
Quoting dove_alliance
I'm not..... The $'s not that stupid.
rofl it is is it lol

sorry this is a belated lol good fortune to all
Fear is the mind killer.
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