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USD/JPY Discussion

  • #3,981
  • Aug 23, 2007 3:22am Aug 23, 2007 3:22am
Quoting baron193
Attachment

Yes, you are right!!! there are some clowns around that might say that this is
(for all intended purposes) an.....(wait for it)......uptrend!!!!
Before you reply i suggest grasping an understanding of what "intended purpose" means....enough.

i guess it was an up trend cool
Fear is the mind killer.
  • #3,982
  • Aug 23, 2007 3:28am Aug 23, 2007 3:28am
i closed out my long for 7 pips after it's last failed attempt to close above the resistance line...


Looking for a sign for another long.. maybe it needs to retrace to 11580 ish to give it enough puff to get it thru?

either that or a clear candle close above 11600 i think..

Looks like it's ranging for a bit but i'm not taking any shorts..

Anyone got any good ideas?

  • #3,983
  • Aug 23, 2007 3:36am Aug 23, 2007 3:36am
Quoting Spineynorman
rofl it is is it lol

sorry this is a belated lol good fortune to all

lol dove sorry, i have been looking back and i have asked you questions and you have answered and helped me. darn thing is i seem to only post when i am just a bit tipsy( OK drunk) please forget that last post and crack at you my bad and i apologies. it was very inappropriate. I probably shouldn't post like this but darn my PC doesn't have keys so for some reason i think i can drive it at this point.

One question though, does anyone think the usd/yen will hit 117.00 ?

Sorry Dove, i apologies.
Fear is the mind killer.
  • #3,984
  • Aug 23, 2007 3:53am Aug 23, 2007 3:53am
Quoting Spineynorman

One question though, does anyone think the usd/yen will hit 117.00 ?

Sorry Dove, i apologies.
I think it will go to 121.00 in a week or two.....carry trades are back. But as always it will be a volatile ride, bumping off and crashing trough various pivots on it's way. Are you in for the ride, jump on now.
Kjellik74
  • #3,985
  • Aug 23, 2007 4:36am Aug 23, 2007 4:36am
Hit R2.

Have to wait to see if we are on to R3 or back to R1.

G-Man

edit: 50% level between R1 and R2 - 116.13.
  • #3,986
  • Aug 23, 2007 4:41am Aug 23, 2007 4:41am
Hoping for retrace to 11600 for entry..

What you guys think.. it going to keep going?

  • #3,987
  • Aug 23, 2007 4:45am Aug 23, 2007 4:45am
Slightly off topic I suppose, but are you aware that the EUR/JPY also respects these pivots just as well? Just had a fabulous move from the R1 at 157.15 to the R2 at 158.12. Very fast moves such as this are quite a frequent feature.

Japanese traders are known to be very technical and disciplined and have been taught to trade in this way so we should not be surprised that Dove talks sense as he clearly understands this.
Considering a move to Memphis
  • #3,988
  • Edited 6:35am Aug 23, 2007 5:05am | Edited 6:35am
I hope everyone read my post yesterday afternoon concerning the BOJ announcement and this trend..... If you had of, and trusted the trend you would done as well as I had...... I had placed an order in with the entry at 115.34 and I just closed it at the 50% of the R1 and R2 at 116.82..... Believe what you see and not what someone else says and you will win every time.

Between the R2 and the R3
The Dove - Forex Trainer
  • #3,989
  • Aug 23, 2007 5:16am Aug 23, 2007 5:16am
Quoting dove_alliance
I hope everyone read my post yesterday afternoon concerning the BOJ announcement and this trend..... If you had of, and trusted the trend you would done as well I had...... I had placed an order in with the entry at 115.34 and I just closed it at the 50% of the R1 and R2 at 116.82..... Believe what you see and not what someone else says and you will win every time.

Between the R2 and the R3
So it should retrace back to r1 (116.36) at this time then, if I follow your logic dove?
Kjellik74
  • #3,990
  • Aug 23, 2007 5:17am Aug 23, 2007 5:17am
Quoting kjellik74
So it should retrace back to r1 (116.36) at this time then, if I follow your logic dove?
...or maybe not... it goes again !!
Kjellik74
  • #3,991
  • Aug 23, 2007 5:23am Aug 23, 2007 5:23am
Quoting kjellik74
So it should retrace back to r1 (116.36) at this time then, if I follow your logic dove?
No - right now it will probably consolidate for awhile..... When the 50% is hit of the R2 and R3 it is then a time for waiting..... It could go back to the R2
The Dove - Forex Trainer
  • #3,992
  • Aug 23, 2007 5:26am Aug 23, 2007 5:26am
Quoting tooloud
Japanese traders are known to be very technical and disciplined and have been taught to trade in this way so we should not be surprised that Dove talks sense as he clearly understands this.
Thank you for your compliment. I hope everything goes well.
Peace and Happiness through Prosperity (by Konosuke Matsushita)
  • #3,993
  • Aug 23, 2007 5:27am Aug 23, 2007 5:27am
If the usd/jpy hits the R3 it will keep going and that is 117.29 and this is why the R3 is very seldom hit..... I have seen it gone another 100 pips pass the R3.
The Dove - Forex Trainer
  • #3,994
  • Aug 23, 2007 5:28am Aug 23, 2007 5:28am
Quoting tooloud
Slightly off topic I suppose, but are you aware that the EUR/JPY also respects these pivots just as well? Just had a fabulous move from the R1 at 157.15 to the R2 at 158.12. Very fast moves such as this are quite a frequent feature.

Japanese traders are known to be very technical and disciplined and have been taught to trade in this way so we should not be surprised that Dove talks sense as he clearly understands this.
I was getting to that - focus on the movements right now - but I do thank you....
The Dove - Forex Trainer
  • #3,995
  • Aug 23, 2007 5:50am Aug 23, 2007 5:50am
Quoting dove_alliance
If the usd/jpy hits the R3 it will keep going and that is 117.29 and this is why the R3 is very seldom hit..... I have seen it gone another 100 pips pass the R3.
A little retrace would be nice.. give a bit more confidence on an enty point..

My VT charts are down so missing an indicator.. will have to watch the candles, i guess..
  • #3,996
  • Aug 23, 2007 6:42am Aug 23, 2007 6:42am
Quoting MLM12
Any other ideas on how to find pivots and retracements?...

Hi

Try this, and tell me if itīs right with your charts. On mine there are some little diferences becauses hourly diferences, that gives some diferences on closes and open values. I take it from this forum.
Attached File(s)
File Type: mq4 PivotCustom_4TimeFrames.mq4   45 KB | 297 downloads
  • #3,997
  • Aug 23, 2007 6:42am Aug 23, 2007 6:42am
I believe this will continue until the 08:30 announcement for the USD unemployment...... The numbers are positive for the USD..... but that really means nothing because they will take it in the direction that pleases them the most..... And I really don't believe they will bust the R3..... And again, the dollar might decide it is time to balance the power once again..... So, we will see.
The Dove - Forex Trainer
  • #3,998
  • Aug 23, 2007 7:01am Aug 23, 2007 7:01am
Quoting dove_alliance
I believe this will continue until the 08:30 announcement for the USD unemployment...... The numbers are positive for the USD..... but that really means nothing because they will take it in the direction that pleases them the most..... And I really don't believe they will bust the R3..... And again, the dollar might decide it is time to balance the power once again..... So, we will see.
Hello Mr. Dove How are you, do you think it will reach the lower pivot point before going up.
The Chonchy
  • #3,999
  • Aug 23, 2007 7:07am Aug 23, 2007 7:07am
Quoting chonchy
Hello Mr. Dove How are you, do you think it will reach the lower pivot point before going up.
right now it is heading back to the R2 and as for going up.... That will depend on the announcement.
The Dove - Forex Trainer
  • #4,000
  • Aug 23, 2007 7:19am Aug 23, 2007 7:19am
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..
Why is that a problem? I'm confused
Patience + Humility + Study = Success
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