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USD/JPY Discussion

  • #4,341
  • Aug 28, 2007 9:11pm Aug 28, 2007 9:11pm
Quoting chonchy
Hello Mr. Dove a plesure here, but don't you get the low, high, open and close from accusharts, the daily chart, the candle of 8-28 07?
thanks in advance, god bless.
You got the same numbers as I did, except I have InterbankFX as a broker (MT4 platform). I'm kind of dismayed that I'm finding out now they aren't reporting the real pip values.
  • #4,342
  • Aug 28, 2007 9:17pm Aug 28, 2007 9:17pm
Have a small Short position with a Tight Stop...
Let's see what happens... the trading range is being squashed!..
Chances favour the prepared.
  • #4,343
  • Aug 28, 2007 9:30pm Aug 28, 2007 9:30pm
Quoting thegunslinger
You got the same numbers as I did, except I have InterbankFX as a broker (MT4 platform). I'm kind of dismayed that I'm finding out now they aren't reporting the real pip values.
InterbankFX is always going to be off. I just fired up their demo to check, they use a 19:00 EST close (and also have Sunday candles..). Your best bet for more accurate data is either the FXDD demo (MT4) or the Accucharts demo.
  • #4,344
  • Aug 28, 2007 9:31pm Aug 28, 2007 9:31pm
  •  4x_Trader
  • Joined Dec 2006 | Status: Is the market a FRIENDLY place to U | 639 Posts | Online Now
Quoting jasonowl
Have a small Short position with a Tight Stop...
Let's see what happens... the trading range is being squashed!..
IMHO both techical and fundies tell us that

110 will do until next week...
  • #4,345
  • Aug 28, 2007 9:43pm Aug 28, 2007 9:43pm
At this time I'm going to try to explain how to determine when to get back in on a trend:

Lets take this scenario.... This will work either long or short.... Right now we are in a down trend and have been since Monday morning... This evening around 19:20 ET it broke lose at the daily central and went to the 50% mart at the 113.96, from there it retraced: This is where you will be looking to be back into the trade..... I use a 3 minute chart with a bollinger band. The BB is my "Q" to get back in..... The candle had hit the BB at 114.18 and that is where I got in: This is known as the "turn pivot"...... The reason because the retrace had finished when it hit the BB. This point is the high between those two pivots.... If it ever should retrace again off the pivot that is going after then the high is the limit.... If it should go above the high then we are looking at what is call the round robin.... It will continue to bounce between the turn pivot and the 50%, such as this scenario, until it either change the trend or continue on in the trend for the next pivot...... This scenario works on all timeframes....

Remember, when a retrace happens between ANY pivot then that is the high until it breaks loose for the next pivot and then you start all over again.
The Dove - Forex Trainer
  • #4,346
  • Aug 28, 2007 9:58pm Aug 28, 2007 9:58pm
Out of my short for now.
Trying to turn on the 3min Chart, will have to wait for re-entry.

Quoting jasonowl
Have a small Short position with a Tight Stop...
Let's see what happens... the trading range is being squashed!..
Chances favour the prepared.
  • #4,347
  • Aug 28, 2007 10:37pm Aug 28, 2007 10:37pm
Quoting dove_alliance
At this time I'm going to try to explain how to determine when to get back in on a trend:

Lets take this scenario.... This will work either long or short.... Right now we are in a down trend and have been since Monday morning... This evening around 19:20 ET it broke lose at the daily central and went to the 50% mart at the 113.96, from there it retraced: This is where you will be looking to be back into the trade..... I use a 3 minute chart with a bollinger band. The BB is my "Q" to get back in..... The candle had hit the BB at 114.18 and that is where I got in: This is known as the "turn pivot"...... The reason because the retrace had finished when it hit the BB. This point is the high between those two pivots.... If it ever should retrace again off the pivot that is going after then the high is the limit.... If it should go above the high then we are looking at what is call the round robin.... It will continue to bounce between the turn pivot and the 50%, such as this scenario, until it either change the trend or continue on in the trend for the next pivot...... This scenario works on all timeframes....

Remember, when a retrace happens between ANY pivot then that is the high until it breaks loose for the next pivot and then you start all over again.
How did you know it was going to turn at 114.18? What if it kept going through the band? Also, do you only make trades that follow the trend until the trend changes? Thanks Dove.
  • #4,348
  • Aug 28, 2007 10:42pm Aug 28, 2007 10:42pm
Quoting trader07
How did you know it was going to turn at 114.18? What if it kept going through the band? Also, do you only make trades that follow the trend until the trend changes? Thanks Dove.
Pretty much I stay in the trend.... If I come across a round robin then I will work it..... As for the 114.18 is where the bollinger band was hit and that was the high for the retrace between the two pivots..... It will always stay in the trend and that is why I very seldom go against it.
The Dove - Forex Trainer
  • #4,349
  • Aug 28, 2007 10:50pm Aug 28, 2007 10:50pm
Right now it is working pretty hard to change the trend...... The EUR/USD is also working at it and if the Euro changes its trend then guess what happens? The Yen will follow.
The Dove - Forex Trainer
  • #4,350
  • Aug 28, 2007 10:50pm Aug 28, 2007 10:50pm
Quoting dove_alliance
Pretty much I stay in the trend.... If I come across a round robin then I will work it..... As for the 114.18 is where the bollinger band was hit and that was the high for the retrace between the two pivots..... It will always stay in the trend and that is why I very seldom go against it.
Dove what chart/time frame do you use to determine the trend again? Also I see instances on my 3 min chart where it touches the band dips a little... then touches it again and falls and times where it burst through... What can I use to tell the difference between these scenarios? Thanks Dove.
  • #4,351
  • Aug 28, 2007 10:55pm Aug 28, 2007 10:55pm
Quoting trader07
Dove what chart/time frame do you use to determine the trend again? Also I see instances on my 3 min chart where it touches the band dips a little... then touches it again and falls and times where it burst through... What can I use to tell the difference between these scenarios? Thanks Dove.
Change your band to 15...... I use the 1 hour chart to verify the change of trend..... And also the 20 minute to alert me of the change that is about to happened.
The Dove - Forex Trainer
  • #4,352
  • Aug 28, 2007 10:58pm Aug 28, 2007 10:58pm
Quoting dove_alliance
Change your band to 15...... I use the 1 hour chart to verify the change of trend..... And also the 20 minute to alert me of the change that is about to happened.
It is set to 15... It just broke my 3 minute band... The trend is down but did you see this coming... How do you use the 20 minute to alert you to this fact?
  • #4,353
  • Aug 28, 2007 11:02pm Aug 28, 2007 11:02pm
Quoting trader07
It is set to 15... It just broke my 3 minute band... The trend is down but did you see this coming... How do you use the 20 minute to alert you to this fact?
I always keep tabs of the trend for the EURO because the Yen always follow suite..... Now this has only happen within the last 7-8 months...... Everything is out of sync and has been since then.... One day it will come back into sync and when it does then the carry trades will no longer be any good.
The Dove - Forex Trainer
  • #4,354
  • Aug 28, 2007 11:15pm Aug 28, 2007 11:15pm
Anyone else got in this. The short took me out on the stop with +3 and then my 10 minute has crossed for the up so I got in at 06.... Never imagine it would shoot like that..... But the EURO said it was going up too.
The Dove - Forex Trainer
  • #4,355
  • Aug 28, 2007 11:17pm Aug 28, 2007 11:17pm
If a break of 113.80 happens it'll go back to 111-110 thats pretty much it...

very easy trade
  • #4,356
  • Aug 28, 2007 11:20pm Aug 28, 2007 11:20pm
Quoting MoForce
If a break of 113.80 happens it'll go back to 111-110 thats pretty much it...

very easy trade
Doesn't look like its going to happen now.
The Dove - Forex Trainer
  • #4,357
  • Aug 28, 2007 11:22pm Aug 28, 2007 11:22pm
lol nope...I'm guessing it'll happen around the US opening
  • #4,358
  • Aug 28, 2007 11:23pm Aug 28, 2007 11:23pm
Haha.. saw the upmove (even said so in my earlier post) but not that spike..
But then.. old stubborn me.. took the short trade again.. (yes I'm laughing at myself now).... take quite a bit of a loss ... man...

Quoting dove_alliance
Anyone else got in this. The short took me out on the stop with +3 and then my 10 minute has crossed for the up so I got in at 06.... Never imagine it would shoot like that..... But the EURO said it was going up too.
Chances favour the prepared.
  • #4,359
  • Aug 28, 2007 11:27pm Aug 28, 2007 11:27pm
The trend was up on my 120 tick chart... I missed it though
  • #4,360
  • Aug 28, 2007 11:27pm Aug 28, 2007 11:27pm
Quoting jasonowl
Haha.. saw the upmove (even said so in my earlier post) but not that spike..
But then.. old stubborn me.. took the short trade again.. (yes I'm laughing at myself now).... take quite a bit of a loss ... man...
I was hoping everyone would pick up on the up movement when I mention it.... I wasn't looking for that spike, I thought maybe to the central....
The Dove - Forex Trainer
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