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USD/JPY Discussion

  • #4,161
  • Aug 24, 2007 10:16am Aug 24, 2007 10:16am
Looks like it is trading in a channel
creating wealth one pip at a time.....
  • #4,162
  • Aug 24, 2007 10:16am Aug 24, 2007 10:16am
I made 5 bad trades in a row ( haven't done that in months)...then I made one great trade to make up half of the bad trades...THEN I DID 10 BAD TRADES IN A ROW.

A new high...I can't believe myself...
  • #4,163
  • Aug 24, 2007 10:18am Aug 24, 2007 10:18am
went long @ 115.80
  • #4,164
  • Aug 24, 2007 10:20am Aug 24, 2007 10:20am
if it is trading in a channel.. it should go all the way up to 116.46 before retracement.
  • #4,165
  • Aug 24, 2007 10:23am Aug 24, 2007 10:23am
Quoting s3padrian
I made 5 bad trades in a row ( haven't done that in months)...then I made one great trade to make up half of the bad trades...THEN I DID 10 BAD TRADES IN A ROW.

A new high...I can't believe myself...
Feel ya, good thing it is fri
creating wealth one pip at a time.....
  • #4,166
  • Aug 24, 2007 10:25am Aug 24, 2007 10:25am
Quoting invicta79
if it is trading in a channel.. it should go all the way up to 116.46 before retracement.
True, if it could only get past the Daily 116.19 seems to hit the wall there..
creating wealth one pip at a time.....
  • #4,167
  • Aug 24, 2007 10:27am Aug 24, 2007 10:27am
i'll take profits at the daily in a flash... wanna get some rest.. ^^
  • #4,168
  • Aug 24, 2007 10:27am Aug 24, 2007 10:27am
Forgive me for disrupting the current flow of the thread, but I wanted to know if the data for Sunday's candle (what is the timeframe for that by the way) is used to calculate the pivots for Monday's trading day? I ask because since Sunday is not a full trading day is would it be superceded by the Friday candle.
  • #4,169
  • Aug 24, 2007 10:50am Aug 24, 2007 10:50am
well today it went as high and slightly higher than the daily pivot
and it didn't go down to the S1...came close by about 16 pips
I made a few pips trading news on new home sales the usd/jpy
spiked up at 10 PM est
  • #4,170
  • Aug 24, 2007 10:51am Aug 24, 2007 10:51am
Quoting southernmind
Forgive me for disrupting the current flow of the thread, but I wanted to know if the data for Sunday's candle (what is the timeframe for that by the way) is used to calculate the pivots for Monday's trading day? I ask because since Sunday is not a full trading day is would it be superceded by the Friday candle.

Check out dove's post's from page #159 - 164 of this thread...

Hope this helps
Venture out and Thrive where there is no Supervision... R.L
  • #4,171
  • Aug 24, 2007 11:05am Aug 24, 2007 11:05am
channel movement... all the way baby!
  • #4,172
  • Aug 24, 2007 12:13pm Aug 24, 2007 12:13pm
Quoting s3padrian
I made 5 bad trades in a row ( haven't done that in months)...then I made one great trade to make up half of the bad trades...THEN I DID 10 BAD TRADES IN A ROW.

A new high...I can't believe myself...
We're with ya.

Today has been a bit of a bitch day.

There were plenty of good trades out there but they seem to follow the lower percentages. And the news was all spikey with no follow through.

Been done for a few pips myself today, down about 48. Don't worry though because Dove will come on the thread later telling us he made 178 pips today and how we should have done it.

Lots and lots of channels and ranges that could have been played except I guess we were all looking for the breakout.

Can't see much happening now so I'm gonna call it a day guys.

Catch you next week. Don't forget no trading in London on Monday.

G-Man
  • #4,173
  • Aug 24, 2007 12:50pm Aug 24, 2007 12:50pm
Am I understanding Dove correctly by saying that we are to use the close of Sunday's candle at 5pm est on Sunday in calculating the daily pivots for Monday? Also, if on Sunday before the 5pm close, price moves higher or lower than the high/low on Friday then we are to use that new high/low in calculating the pivots for Monday?
  • #4,174
  • Aug 24, 2007 12:55pm Aug 24, 2007 12:55pm
Quoting G-Man
Today has been a bit of a bitch day.

There were plenty of good trades out there but they seem to follow the lower percentages. And the news was all spikey with no follow through.
Agreed. The USD weakness across the board I feel is responsible for most of this chop in U/J. The other yen crosses have trended smoothly since the european opening lows, unfortunately I wasn't focused on them enough. E/J picked up two full yards in <12 hours, 3 yards on G/J ::
  • #4,175
  • Aug 24, 2007 1:14pm Aug 24, 2007 1:14pm
Quoting Trader KGB
Agreed. The USD weakness across the board I feel is responsible for most of this chop in U/J. The other yen crosses have trended smoothly since the european opening lows, unfortunately I wasn't focused on them enough. E/J picked up two full yards in <12 hours, 3 yards on G/J ::
Yen crosses were where to be today.

Only need to look at the hourly chart for USD/JPY to see what a bitch day it was.

Here's to next week.

G-Man
  • #4,176
  • Aug 24, 2007 2:42pm Aug 24, 2007 2:42pm
Quoting dove_alliance
What I have set up on my 1 hour chart are two trend lines. Both trend lines are up and why I have two is because they cross one another during the trend. What this represents is the volatility of the trend.... One trend is blue and the other is green.... When the blue crosses and is above the green then there is no power but only retraces..... When the blue crosses and gets below the green then the power is there and the volatility is strong..... When the market opened today the blue had crossed above the green which represents no power but only retraces; it is now touching one another getting ready to place the power back into the market.

Did you mean to say moving averages as opposed to trend lines because trend lines don't move. If you were talking about MAs which ones are they?
  • #4,177
  • Aug 24, 2007 2:46pm Aug 24, 2007 2:46pm
Been longing A/J that's about it. US Dollar is garbage across the board, GBP above 2.000 again, EUR, back above 1.36 U/J is a dead duck
Patience + Humility + Study = Success
  • #4,178
  • Aug 24, 2007 2:50pm Aug 24, 2007 2:50pm
Quoting DutchTrader
Been longing A/J that's about it. US Dollar is garbage across the board, GBP above 2.000 again, EUR, back above 1.36 U/J is a dead duck
Are you sticking with a position trade on A/J or do you trade it day to day? It's been straight up most of this week, but some 150-300 pip pullbacks here and there, do you hold through them?
  • #4,179
  • Aug 24, 2007 7:08pm Aug 24, 2007 7:08pm
I find it pretty hard to day trade with the Yen crosses, because they're the pairs that least obey technical levels. I would just try to buy as cheap as I can and hold them medium-long term and enjoy the daily interest (especially triple interest wednesdays!)

You never know when crap's gonna happen again...

-Dickens
  • #4,180
  • Aug 25, 2007 4:54am Aug 25, 2007 4:54am
Friday was a good day, does anyone els think we could go to 119.00? the carry trade rules all these days, no charts can predict that. What say you all?
Fear is the mind killer.
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