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USD/JPY Discussion

  • #4,081
  • Aug 23, 2007 1:11pm Aug 23, 2007 1:11pm
Quoting G-Man
Yeah, looks like the downward momemtum has dissapaited.

Bit early to say the trend has moved to up but it is trying to move in that direction.

Sideways range will do me for a while. Can make pips in that environment.

G-Man
That indicator is the power on the trend..... which means a change is about to come or sideways...... it is still flat lined so the trend is still down for right now.
The Dove - Forex Trainer
  • #4,082
  • Aug 23, 2007 1:27pm Aug 23, 2007 1:27pm
dove i think its a gr8 time to go long whats ur thoughts?
  • #4,083
  • Aug 23, 2007 1:34pm Aug 23, 2007 1:34pm
Quoting bksujal
dove i think its a gr8 time to go long whats ur thoughts?
If you read his post above you should be able to guess what he is thinking.

G-Man
  • #4,084
  • Aug 23, 2007 1:37pm Aug 23, 2007 1:37pm
For right now my thoughts are on the R1 because the trend is still down and I would not like to go against it..... Patience, because there are always other opportunities... Right now it is setting right at the 50% of the R1 and R2......anything can happen from here, even though the turn back to the R1 has started but is not complete. For me, this is a danger zone..... But that is only my thoughts.
The Dove - Forex Trainer
  • #4,085
  • Aug 23, 2007 1:41pm Aug 23, 2007 1:41pm
I know Dove will hate me for saying this but the USDJPY is stuck like a limpet to the S&P at the moment.

G-Man
  • #4,086
  • Aug 23, 2007 1:44pm Aug 23, 2007 1:44pm
Quoting G-Man
I know Dove will hate me for saying this but the USDJPY is stuck like a limpet to the S&P at the moment.

G-Man

smiling
The Dove - Forex Trainer
  • #4,087
  • Aug 23, 2007 1:50pm Aug 23, 2007 1:50pm
Quoting bksujal
hey Can Anyone Here Pls Tell Me How Do I Change My Time In Meta Trader To My Local Time What Do I Have To Do Pls Pls Pls Help!!!
You're in the wrong forum... and sorry, you can't change the time in MT4, it's a serious design flaw imo...
  • #4,088
  • Aug 23, 2007 1:55pm Aug 23, 2007 1:55pm
I would like to gain a better understanding of the fib retracement. Is the 50% retracement the only retracement we have to concern ourselves with? If so, is it only the 50% retracement which occours between consecutive pivots, pivots and the daily or central, and the one between the daily and central?

Also Dove, on Accucharts, do you know how to display the properties (high, low, open, close) of a candle so that I may be able to see what they are?

Thanks.
  • #4,089
  • Aug 23, 2007 2:02pm Aug 23, 2007 2:02pm
Put your curser on the candle that you want and left click. A box will appear on the left or right hand side of your chart.

Edited to add: Don't click directly on the candle. Click on the open chart just above or below the candle.

Nancy
  • #4,090
  • Aug 23, 2007 2:09pm Aug 23, 2007 2:09pm
Quoting southernmind
I would like to gain a better understanding of the fib retracement. Is the 50% retracement the only retracement we have to concern ourselves with? If so, is it only the 50% retracement which occours between consecutive pivots, pivots and the daily or central, and the one between the daily and central?

Also Dove, on Accucharts, do you know how to display the properties (high, low, open, close) of a candle so that I may be able to see what they are?

Thanks.
You have to have someone else answer you about fibo because I don't use one on my trading charts..... As for the AccuCharts, place your mouse under a candle on the vertical line, left click and hold; and there it is.
The Dove - Forex Trainer
  • #4,091
  • Aug 23, 2007 2:13pm Aug 23, 2007 2:13pm
The down trend is starting to build again.
The Dove - Forex Trainer
  • #4,092
  • Aug 23, 2007 2:23pm Aug 23, 2007 2:23pm
Thanks nmpeters!! That was what I was looking for.

Also, does anyone know of any software application I can download that will allow me to view a word document? I would like to view the file of the compilation of Dove's post created by G-man but I don't have Word on my computer.
  • #4,093
  • Aug 23, 2007 2:29pm Aug 23, 2007 2:29pm
I should had said: The trend line is building back up...... Not necessarily the down..... Even though it is still a down but my next 20 minute may change that...... I'm going to have to get off for awhile..... I have lost focus plus being tired from trading almost 24 hours.

Talk with you later.
The Dove - Forex Trainer
  • #4,094
  • Aug 23, 2007 2:31pm Aug 23, 2007 2:31pm
Quoting dove_alliance
You have to have someone else answer you about fibo because I don't use one on my trading charts..... As for the AccuCharts, place your mouse under a candle on the vertical line, left click and hold; and there it is.

I just wanted to make sure that you weren't including other fib retracement levels in your analysis. However, you do mention the 50% level between pivots. Was I correct about the 50% levels I mentioned in my post?
  • #4,095
  • Aug 23, 2007 2:48pm Aug 23, 2007 2:48pm
Quoting dove_alliance
I should had said: The trend line is building back up...... Not necessarily the down..... Even though it is still a down but my next 20 minute may change that...... I'm going to have to get off for awhile..... I have lost focus plus being tired from trading almost 24 hours.

Talk with you later.
Catch you later Dove.

G-Man
  • #4,096
  • Aug 23, 2007 4:12pm Aug 23, 2007 4:12pm
R3 - 118.91
R2 - 118.01
R1 - 117.09

DAILY - 116.19
CENTRAL - 116.17 (Have Fun)

S1 - 115.27
S2 - 114.37
S3 -113.34

As you notice - the Daily and Central are within two pips of one another.... In this case, the central pivot has no value..... The daily only.

And as you probably have noticed, the trend did change to an up......
The Dove - Forex Trainer
  • #4,097
  • Aug 23, 2007 7:47pm Aug 23, 2007 7:47pm
Quoting DutchTrader
dove,
Did you know that the principal of pivots works on ANY pair? Seriously.
I've seen this too, especially on the euro. Not so much on the other yen crosses, but as someone else mentioned, using the U/J pivots as a proxy for entering other yen crosses works well.

Still long on A/J? Aussie has made a great comeback. Picked up half the ride on A/U, but that horse had a lot left in it. Easily the strongest commodity currency.
  • #4,098
  • Aug 23, 2007 7:52pm Aug 23, 2007 7:52pm
Quoting Trader KGB
Still long on A/J? Aussie has made a great comeback. Picked up half the ride on A/U, but that horse had a lot left in it. Easily the strongest commodity currency.
AUD/JPY is doing miracles today, love that pair! Sky is the limit (well, 99.0).
However, it's more efficient to buy on dips and take profit on highs many times rather than keeping a long position.
"Luxury is one of the basic needs", (c), Don Corleone
  • #4,099
  • Aug 23, 2007 9:25pm Aug 23, 2007 9:25pm
Quoting Trader KGB
I've seen this too, especially on the euro. Not so much on the other yen crosses, but as someone else mentioned, using the U/J pivots as a proxy for entering other yen crosses works well.

Still long on A/J? Aussie has made a great comeback. Picked up half the ride on A/U, but that horse had a lot left in it. Easily the strongest commodity currency.
Longer then Pinocchio's nose,loving that pair.
Patience + Humility + Study = Success
  • #4,100
  • Aug 23, 2007 9:32pm Aug 23, 2007 9:32pm
Quoting Firstboss
AUD/JPY is doing miracles today, love that pair! Sky is the limit (well, 99.0).
However, it's more efficient to buy on dips and take profit on highs many times rather than keeping a long position.
The large spread isn't bothersome?
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