USD/JPY Discussion | Page 220 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

USD/JPY

Similar Threads

USD/JPY Discussion 12 replies

NZD/JPY Discussion 12 replies

long eur/jpy, gbp/jpy, usd/jpy 11 replies

EUR/USD Bollinger Band Discussion 3 replies

Suidster's GBP/JPY Discussion 19 replies

Attachments: USD/JPY Discussion
Exit Attachments

USD/JPY Discussion

  • #4,381
  • Aug 29, 2007 11:54am Aug 29, 2007 11:54am
Quoting bocanti
the head an shoulder is on the making, right shoulder hasn't made yet. but i think its a good candidate to short ....

still waiting on confirmation, i lost quite alot due to act to quickly without confirmation. now i wait hopefully i wont lost often, creating net win instead of net loss.
and one more thing, it need to cross the neck line to confirm head and shoulder pattern, appx 114.1x
  • #4,382
  • Aug 29, 2007 11:58am Aug 29, 2007 11:58am
When you traders go broke on your live account because you depended on candle formations let me know, and then, I'll tell you why you went broke.
The Dove - Forex Trainer
  • #4,383
  • Aug 29, 2007 12:05pm Aug 29, 2007 12:05pm
Quoting dove_alliance
When you traders go broke on your live account because you depended on candle formations let me know, and then, I'll tell you why you went broke.
The biggest problem with candle patterns is the low probability.

Winners need to be held to the maximum to enable the low hit rate to be overall profitable and this is where newbies to candles fall down, cutting winners short.

G-Man
  • #4,384
  • Aug 29, 2007 1:07pm Aug 29, 2007 1:07pm
Like I said earlier - The weekly pivot is the mark.
The Dove - Forex Trainer
  • #4,385
  • Aug 29, 2007 1:08pm Aug 29, 2007 1:08pm
Quoting dove_alliance
Because of a candle formation you think this will drop down 400 pips..... Is that what you are saying?

Beacause in the 4 hour chart i see head and shoulder pattern the resistance is 115.52. 115.52 is the resistance or the right shoulder and the support is 111.50
  • #4,386
  • Aug 29, 2007 1:12pm Aug 29, 2007 1:12pm
Quoting amed12
Beacause in the 4 hour chart i see head and shoulder pattern the resistance is 115.52. 115.52 is the resistance or the right shoulder and the support is 111.50
Like I said earlier:
When you traders go broke on your live account because you depended on candle formations let me know, and then, I'll tell you why you went broke.
The Dove - Forex Trainer
  • #4,387
  • Aug 29, 2007 1:16pm Aug 29, 2007 1:16pm
Right now the volatility is sky high with the weekly pivot as the target.
The Dove - Forex Trainer
  • #4,388
  • Aug 29, 2007 1:35pm Aug 29, 2007 1:35pm
Quoting dove_alliance
Like I said earlier:
When you traders go broke on your live account because you depended on candle formations let me know, and then, I'll tell you why you went broke.
An H & S formation is technically a western bar chart formation, candlestick formations are usually 2-3 candles long and actually work, especially on the daily charts. candlesticks go back to the 1600's, they use em for something.

western formations do work because of the self-fulfilling phenomena. but for this pivot scalping technique of yours, which is intra-day trading, it won't work. they are for larger TF's. But I'm not sure if he actually said he was trading pivots........
  • #4,389
  • Aug 29, 2007 1:47pm Aug 29, 2007 1:47pm
I'm short from 115.66 which is above the pivot, am I right with my pivot calculation of 115.48?
Patience + Humility + Study = Success
  • #4,390
  • Aug 29, 2007 1:51pm Aug 29, 2007 1:51pm
Quoting kreeper_6
An H & S formation is technically a western bar chart formation, candlestick formations are usually 2-3 candles long and actually work, especially on the daily charts. candlesticks go back to the 1600's, they use em for something.

western formations do work because of the self-fulfilling phenomena. but for this pivot scalping technique of yours, which is intra-day trading, it won't work. they are for larger TF's. But I'm not sure if he actually said he was trading pivots........
Yea - but he was looking at a short for 400 pips..... does that make since?
The Dove - Forex Trainer
  • #4,391
  • Aug 29, 2007 1:52pm Aug 29, 2007 1:52pm
Quoting DutchTrader
I'm short from 115.66 which is above the pivot, am I right with my pivot calculation of 115.48?
DutchTrader what are you doing and why did you go short?
The Dove - Forex Trainer
  • #4,392
  • Aug 29, 2007 1:58pm Aug 29, 2007 1:58pm
Quoting DutchTrader
I'm short from 115.66 which is above the pivot, am I right with my pivot calculation of 115.48?
I don't know which pivot you are talking about unless it would be the 50% which is the 115.52.
The Dove - Forex Trainer
  • #4,393
  • Aug 29, 2007 2:13pm Aug 29, 2007 2:13pm
Quoting dove_alliance
Yea - but he was looking at a short for 400 pips..... does that make since?
400 pips may be a little absurd on a smaller time frame , but on h2 or h4 it is possible, usd/yen is up 200 pips today alone. 400 pips on the gbp/yen I could see, but not the usd/yen.

It was the 4h chart, but i see no head and shoulder anyway.
  • #4,394
  • Aug 29, 2007 2:32pm Aug 29, 2007 2:32pm
I'm out at the 72 but you could gamble on the 116.00..... Who knows, it might make it.
The Dove - Forex Trainer
  • #4,395
  • Aug 29, 2007 2:50pm Aug 29, 2007 2:50pm
Quoting dove_alliance
I'm out at the 72 but you could gamble on the 116.00..... Who knows, it might make it.
Looks like it did.

G-Man
  • #4,396
  • Aug 29, 2007 2:59pm Aug 29, 2007 2:59pm
I don't know if this has been asked of you Dove, I just wanted to get an idea of the type of trader you are. Do you sit in front of the charts all day? Or do you put in market orders and checkup on them throughout the day while doing other stuff?
  • #4,397
  • Aug 29, 2007 3:01pm Aug 29, 2007 3:01pm
I keep reading post about the Yen going down to the 109…… The last time the 109 was hit was May of 06 and then it hit the bottom of the up trend line…… Right now, at the 116.00 is the bottom of that weekly up trend….. I don’t how many traders know but the record on the usd/jpy is the 133.00 which was many, many years ago….. I do not see the 109 being hit again for a long time to come… In the next week or two I see this taking off and going up stairs again and this time, it will bust the 124.00….
The Dove - Forex Trainer
  • #4,398
  • Aug 29, 2007 3:03pm Aug 29, 2007 3:03pm
Quoting thegunslinger
I don't know if this has been asked of you Dove, I just wanted to get an idea of the type of trader you are. Do you sit in front of the charts all day? Or do you put in market orders and checkup on them throughout the day while doing other stuff?
I don't sit all day..... There are times I place my order in with the limit and the stop and let it run it's course and check on it periodically.... If I'm scalping I stay with it.
The Dove - Forex Trainer
  • #4,399
  • Aug 29, 2007 3:09pm Aug 29, 2007 3:09pm
Quoting dove_alliance
I don't sit all day..... There are times I place my order in with the limit and the stop and let it run it's course and check on it periodically.... If I'm scalping I stay with it.

What strategy do you use to determinited to go short or long.

thanks
  • #4,400
  • Aug 29, 2007 3:13pm Aug 29, 2007 3:13pm
Quoting amed12
What strategy do you use to determinited to go short or long.

thanks
The trend.
The Dove - Forex Trainer
25 traders viewing now, 1 is registered:
TooSlow