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USD/JPY Discussion

  • #4,561
  • Sep 3, 2007 3:09am Sep 3, 2007 3:09am
Quoting kjellik74
Trader07, I get weekly S3 to 111.29.....did you just do a typo or is my calculator suddenly wrong this morning ? )-:

++QUOTE++
WEEKLY PIVOTS
R3 – 119.93
MP – 119.13
R2 – 118.33
MP – 117.69
R1 – 117.05
MP – 116.25

Weekly Pivot – 115.45
MP – 115.60
Central – 115.75

MP – 114.81
S1 – 114.17
MP – 113.37
S2 – 112.57
MP – 112.08
S3 – 111.59
++UNQUOTE++
It was a typo....
  • #4,562
  • Sep 3, 2007 6:49am Sep 3, 2007 6:49am
Boring day. No comment for 3 hours, no movement for 2, in fact lots of non trade minutes. I'm long, looking for 116.36, of course it will not happen .
  • #4,563
  • Sep 3, 2007 7:02am Sep 3, 2007 7:02am
Quoting sirpawel
Boring day. No comment for 3 hours, no movement for 2, in fact lots of non trade minutes. I'm long, looking for 116.36, of course it will not happen .
Veery booring day ...... and the sad thing is that it will not pick up much once US open either, since they won't open (-:

Hm, long or short..... maybe better stay out of the market today as there is not any good indications really of what direction this pair will take.
Kjellik74
  • #4,564
  • Sep 3, 2007 7:35am Sep 3, 2007 7:35am
I think we gonna test Weekly Pivot Point today
  • #4,565
  • Sep 3, 2007 7:47am Sep 3, 2007 7:47am
Quoting PolishTrader
I think we gonna test Weekly Pivot Point today
I am sure Dove has explained this several times before, but how do the Central compare to the Daily/Weekly pivot, when it comes to strength of resistance/support? In my book it is not as strong resistance/support as the Daily/Weekly pivot, but I might be wrong here..... anyone?
Kjellik74
  • #4,566
  • Sep 3, 2007 8:14am Sep 3, 2007 8:14am
I believe both Central/Pivot Weekly and Daily are equal important.If you check what Dove wrote at the beginning you will notice that the time when price gets between Central and Daily is most important part of the day - if it close below Central then the next pivot below is target,if above then the next pivot above.

However,you should be aware that since that a lot has changed - Dove wrote about retraces and watching on indicators.What I'm trying to say is that you can't base your entry only on pivots.You can't say - "Ok,it closed below - we are heading to R1/S1/whatever"

At the beginning I had such impresion because Dove wrote that it is like that.Later though,he added another rules and then I found out you can't trust only pivots - don't get me wrong - they are great !! but you have to use them with some other filters/indicators.
  • #4,567
  • Sep 3, 2007 8:54am Sep 3, 2007 8:54am
Quoting PolishTrader
I believe both Central/Pivot Weekly and Daily are equal important.If you check what Dove wrote at the beginning you will notice that the time when price gets between Central and Daily is most important part of the day - if it close below Central then the next pivot below is target,if above then the next pivot above.

However,you should be aware that since that a lot has changed - Dove wrote about retraces and watching on indicators.What I'm trying to say is that you can't base your entry only on pivots.You can't say - "Ok,it closed below - we are heading to R1/S1/whatever"

At the beginning I had such impresion because Dove wrote that it is like that.Later though,he added another rules and then I found out you can't trust only pivots - don't get me wrong - they are great !! but you have to use them with some other filters/indicators.
Thks yours, and that gives me the answer really. I did not use pivots before as a trading indicator, but find it very usefull as a supplement. Right now it closed below daily pivot two times, mid term trend down (still holding 4hrs 100MA), so I will try a short here with a tight stop and pofit at s1.
Kjellik74
  • #4,568
  • Sep 3, 2007 9:32am Sep 3, 2007 9:32am
Quoting kjellik74
Thks yours, and that gives me the answer really. I did not use pivots before as a trading indicator, but find it very usefull as a supplement. Right now it closed below daily pivot two times, mid term trend down (still holding 4hrs 100MA), so I will try a short here with a tight stop and pofit at s1.
No problem mate , but if I were you I would seriously thought about taking some profit on Weekly Pivot (of course if we will move there .US is closed today so there is only 1:30h till London close.After that I don't expect sharp moves

P.S

If you are looking on 4h chart then you probably have seen that recent low on Friday - it almost perfectly overlays with our Weekly Pivot
  • #4,569
  • Sep 3, 2007 10:04am Sep 3, 2007 10:04am
Quoting PolishTrader
No problem mate , but if I were you I would seriously thought about taking some profit on Weekly Pivot (of course if we will move there .US is closed today so there is only 1:30h till London close.After that I don't expect sharp moves

P.S

If you are looking on 4h chart then you probably have seen that recent low on Friday - it almost perfectly overlays with our Weekly Pivot
Weekly pivot at 115.45..... thks a lot, to much focus on daily pivots at times forget the longer term pivots. I can also see the overlays from Friday's low, will be a tough support area, so better look at profit in that area if it comes down.
Kjellik74
  • #4,570
  • Edited 10:09am Sep 3, 2007 10:09am | Edited 10:09am
Quoting kjellik74
Weekly pivot at 115.45..... thks a lot, to much focus on daily pivots at times forget the longer term pivots. I can also see the overlays from Friday's low, will be a tough support area, so better look at profit in that area if it comes down.
If it comes that low (115.45) would be a good point for long entry. Usually, at the end of holiday sessions price returns to where it was before. Plus, it looks very reluctant to break 115.75 down.
"Luxury is one of the basic needs", (c), Don Corleone
  • #4,571
  • Sep 3, 2007 10:16am Sep 3, 2007 10:16am
I agree,Daily Central shows strong support
  • #4,572
  • Sep 3, 2007 12:34pm Sep 3, 2007 12:34pm
Quoting PolishTrader
I agree,Daily Central shows strong support
Daily central today at 115.69 is 4 pips below last weeks Weekly Pivot of 115.73. Last Friday I was looking at how the Daily, Central, and Weekly were all bunched up within within 11 pips of each other. Anyway, I drew a big fat line thru last week's Pivot and followed it back. Lost my notes from all that, but it started me looking at the historical respect the area around this level has had at different times going back to around 1993 or so. I was in the process of trying to find the tops and bottoms of the range when my workhorse PC motherboard croaked! Anyway, give or take a range of however may pips you want with a TF this large, (at the time) it still seemed this area has a lot of strength as Support/Resistance with large movements to either side of it. Never came to a real conclusion and wish I was smarter about this stuff. What do you think? Something there or was I just bored? Anybody got an old AU31/AMD SocketA motherboard layin around? Anybody got a calculator for how many pips it takes to get a new PC...?
FUBAR...
  • #4,573
  • Sep 3, 2007 2:01pm Sep 3, 2007 2:01pm
Gotta love those IBFX guys. Hey Todd! What's with a 3 pip spread doin goin to 9 pips on USD/JPY for a fair portion of the 18:35 5 minute candle that opened AND closed at 115.88 and had a high and low only 7 pips apart?? I mean, even bein new at this, I didn't think "volatility" meant having a spread that exceeded the size of a candle with a 7 pip wick and a 0 pip body. Hmmmn.... Maybe I better go read my fine print again.


Yup, I'm bored. Time to remember what Dove said "FOCUS, grasshopper! FOCUS!
FUBAR...
  • #4,574
  • Sep 3, 2007 2:29pm Sep 3, 2007 2:29pm
Quoting kjellik74
Weekly pivot at 115.45..... thks a lot, to much focus on daily pivots at times forget the longer term pivots. I can also see the overlays from Friday's low, will be a tough support area, so better look at profit in that area if it comes down.

Sir..........i will like your assistance sir, please how can i get software for my trading.
  • #4,575
  • Sep 3, 2007 2:31pm Sep 3, 2007 2:31pm
Hi All

I was studying my charts, on Friday we had a Doji candle with a reasonable long upper wick. But so far today our candle looks more like that but with very small upper and lower wicks. Daily chart was going South and taking a break. However, the weekly chart seems to be telling me a different story. I see something which looks like piercing, which suggests that a long wouldn't be such a bad idea from 116.46. Do u think we're preparing for a move up north or am I way too confused?

weekly 08.12 open 118.20 close 114.20
08.19 open 114.19 close 116.38

ok there was no gap down from 114.20 to 114.19.

Feel free to help.
All the best things in life are free.
  • #4,576
  • Sep 3, 2007 4:38pm Sep 3, 2007 4:38pm
Quoting fx_lane
Hi All

I was studying my charts, on Friday we had a Doji candle with a reasonable long upper wick. But so far today our candle looks more like that but with very small upper and lower wicks. Daily chart was going South and taking a break. However, the weekly chart seems to be telling me a different story. I see something which looks like piercing, which suggests that a long wouldn't be such a bad idea from 116.46. Do u think we're preparing for a move up north or am I way too confused?

weekly 08.12 open 118.20 close 114.20
08.19 open 114.19 close 116.38

ok there was no gap down from 114.20 to 114.19.

Feel free to help.
My best advice for you is to wait till Tokyo open at 10ET - today we basicly didn't have any movement so not much can be said about today action and its implications.

As for your candlesticks - Dove would tell you to not follow them ;-)

Right now my chart are out of sync - 4h says down,1h and 2h says are turning for up - too hard to tell for now.

By the way,anyone got already pivots for today ???
  • #4,577
  • Edited 5:37pm Sep 3, 2007 4:58pm | Edited 5:37pm
FXDD Autopivots (these may differ from Accucharts by a pip or two)

R3 116.59
R2 116.35
R1 116.14

Daily 115.90
Central 115.95

S1 115.69
S2 115.45
S3 115.24

Don't forget the Sept. monthly pivot at 116.42.
  • #4,578
  • Sep 3, 2007 5:06pm Sep 3, 2007 5:06pm
Quoting Trader KGB
FXDD Autopivots (these may differ from Accucharts by a pip or two)

R3 116.59
R2 116.35
R1 116.14

Daily 115.90
Central 115.70

S1 115.69
S2 115.45
S3 115.24

Don't forget the Sept. monthly pivot at 116.42.
Thanks Trader KGB !
  • #4,579
  • Sep 3, 2007 5:23pm Sep 3, 2007 5:23pm
My central is at 115.96. The open candle of 5pm ET today?


Quoting Trader KGB
FXDD Autopivots (these may differ from Accucharts by a pip or two)

R3 116.59
R2 116.35
R1 116.14

Daily 115.90
Central 115.70

S1 115.69
S2 115.45
S3 115.24

Don't forget the Sept. monthly pivot at 116.42.
  • #4,580
  • Sep 3, 2007 5:38pm Sep 3, 2007 5:38pm
Quoting ivoryc
My central is at 115.96. The open candle of 5pm ET today?
My bad, that was yesterday's, fixed.
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