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Joined Jul 2007
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Status: Just another 21 year old amature...
|356 Posts
Hi I have a question about Pivot Points? According to todays numbers Support Level 1 is approximately 115.64ish, would we place a long trade here w/ a SL at 50% 115.30ish and a PT of 116.00ish
Thanks
"Don't work for your money, but let money work for you."
Hi I have a question about Pivot Points? According to todays numbers Support Level 1 is approximately 115.64ish, would we place a long trade here w/ a SL at 50% 115.30ish and a PT of 116.00ish
Ignored
Since you're trading a support-test in a downtrend, I'd lower the SL to a point just below the S1. Yes, it did retrace off S1, but if you look at yesterday for example, similar situation - however price broke the daily, S1, and S2 in one fell swoop.
Conservative initial PT could be the midpoint of the daily and S1 at 115.82.
Since you're trading a support-test in a downtrend, I'd lower the SL to a point just below the S1. Yes, it did retrace off S1, but if you look at yesterday for example, similar situation - however price broke the daily, S1, and S2 in one fell swoop.
Conservative initial PT could be the midpoint of the daily and S1 at 115.82.
Ignored
I see what your trying to say. 55 and 100 hour SMA are also around 115.90 so that will act as resistance too. I am currently long at 115.70 w/ PT at 116, SL at 115.30 what do you guys think about it???
"Don't work for your money, but let money work for you."
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Joined May 2007
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Status: In for the long run
|385 Posts
I think u r in a fairly decent position.
Its fighting real hard to push upwards.
Maybe u could consider a "no-loss" stop... since the last down was in the 70 area. My 2 cents ya... cheers.
I see what your trying to say. 55 and 100 hour SMA are also around 115.90 so that will act as resistance too. I am currently long at 115.70 w/ PT at 116, SL at 115.30 what do you guys think about it???
I think u r in a fairly decent position.
Its fighting real hard to push upwards.
Maybe u could consider a "no-loss" stop... since the last down was in the 70 area. My 2 cents ya... cheers.
Ignored
lol true, I think i will do that since 50% is already been reached. Thanks for your advice.
"Don't work for your money, but let money work for you."
I trade eurjpy too sorry for asking this here would you by any chance have the support and resistance levels for this pair?
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I don't trade EURJPY so I'm afraid I cannot help you.However,I've just checked EURJPY chart and I see 61.8% fib level at 156.76 and 38.2% at 156.72.They are the closest supports right now
P.S
As for USDJPY there is 38.2% fib level at 115.55 which is acting right now as support (this is very long-term fib level)
I don't trade EURJPY so I'm afraid I cannot help you.However,I've just checked EURJPY chart and I see 61.8% fib level at 156.76 and 38.2% at 156.72.They are the closest supports right now
P.S
As for USDJPY there is 38.2% fib level at 115.55 which is acting right now as support (this is very long-term fib level)
Ignored
Polish I think you really understand your job better than me. I just took a trade using my live account and I banked 25 pips. I still need some serious work on fib levels and pivot points. If u don't mind, I don't wanna ask you everyday I wanna learn how to do them. Please show me a few charts and I will take it from there.
Polish I think you really understand your job better than me. I just took a trade using my live account and I banked 25 pips. I still need some serious work on fib levels and pivot points. If u don't mind, I don't wanna ask you everyday I wanna learn how to do them. Please show me a few charts and I will take it from there.
Ignored
Thanks for kind words but as you can see we broke a little bit through Weekly Pivot so I wasn't right unfortunately - we tested lower bottom on bigger triangle (match 17 and 29 august low's and you will see).I thought that Weekly Pivot will act as strong support so I didn't write about it.
I will PM with some charts but keep in mind that I'm also "Forex student" - we had and still have many great people with far greater knowledge than mine
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Joined Jul 2007
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Status: I deal in lead
|393 Posts
I definitely saw signs last night through my indicators that the market was more likely to go down than up. Most of the mid-term TFs (1h/4h) had the MACD crossing over or just about to cross over into negative ground. CCI was the same, so there was little momentum to go up further. There was a nice BB squeeze setting up, I think on the 4h. I just stayed out, however, as I wasn't feeling particularly confident about my analysis.
This thread sure has gotten quiet without Dove's presence.
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Joined May 2007
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Status: In for the long run
|385 Posts
Yeah! Was looking to Short at 115.69, but indicators were not ready.
By the time they were, THE news got to everybody, and definitely a lot of stops were taken out.
Supposed to be a rather "low impact" news, but I guess the figures were overwhelmingly bad.... right now folks are re-aligning their positions.
Sheesshh... well we live to trade another day and time...
