USD/JPY Discussion

I think you are both right about us being done for today. It may go south again, but may not make a new low, BUT...we're going south again next week after some corrections.

The bollinger bends are closing in and stoc is going up, there might just be another insignificant break out. What do u think?

let's go down again.....

Pardon me but going short now is like going against the trend.

Gd night folks and happy pipping, I think a retrace to 114.25 to complete a 50% retracement could be possible or 114.55 to complete a 61.8% retracement but thats my 2 pip opinion.

I'm awaiting confirmation from my indicators then i will head South if they say so. I'm using 15 and 5 that's why I need a clear signal

15 TF says up so I will wait a bit

It looks like H1 needs to consolidate b4 going any where. This move had and a lot of momentum, maybe waiting might help

Am I wrong? 5 looks like another one of those. Please look at it and confirm

Someone want to instruct me on how to attach a screen shot of a chart on this thing.

imageshack.us

Quick and easy. Just upload from your computer then paste the url they give for forums.

I noticed the images are placed into an attachement key.... How do I get the url from it?

Hello Traders and Blessings,
You will notice two attachments: The first is for the benefit of Trader KGB and Trader07 - This one is my entry on the trend that started on 09-04-07 - Tuesday of this week.... They could not understand how I could get in and stay with this trend until the end..... If you would notice on the top of this trend beginning the down there are 3 trend indicators to indicate the entry which was 116.41 - the opening of the candle - This is what is known as the sweep for the new trend….. On the AccuCharts I used the 20 minute to get me out of the trend.

This chart is an AccuChart in which I have put together for future traders to use.... My charts are not to be found because there are two combine as one and the AccuCharts is one of them...... I have a very dear friend who builds software and had built me one in order to combine charts together.... And this software is not available to the public. The indicators on AccuCharts are available but you must know how to use them and set the proper setting in order to get what you see...... In the future I will teach this to you..... As for now; I was requested to work with the GBP/USD on the trends and pivots in which I am doing so now and will be completed within the next week or two and then I will open my own thread and invite all traders to learn what I know.

The second chart is the 20 minute chart I used to exit for the non-farm announcement...... You will notice the crossing of the indicators showing the end of this drive at the 113.11..... The beginning of the trend started 115.37 at 21:00 last night in which I was in at that time and did not get out until 113.18

At the present I have 3 charts are being used on the AccuCharts - two 1 hour (entry on each way) and a 20 minute for the exit on these trends.... My charts are set up for only one chart on the trends..... Before I introduce them to you I hopefully will have it down to only 2 charts to be used instead of 3 on the AccuCharts.

God Bless you all and will be back soon………




OK- At this time I had taken down the charts because I do not want them to end up where they are not suppose to be..... I hope everyone understand..... Everyone should had the time to see them.....

Cool.

Hey Dove,

I would like to thank you for sharing with us your charts.I've got to say that I'm really impressed - it looks great !

But I have couple questions for you :

1) Why bother with pivots when it seems that the yellow/blue crossings have very successful rate of profitable entry/exit ?

2) How these MA act in sideway market ?

3) What are drawbacks of your system ? Can you say it works perfectly or there is still room for some error ?

3) You wrote that you were on the downtrend since 21ET last night.If so then you are trying to tell that your indicators are fearless even from NFP ? I mean,in my opinion none indicator can predict announcement - so if you were short at 115.37 before the NFP then you were certain that the thing is going down ! Before the announcement we were at 115.20 level so either you had your +3pips locked or your gamble.

However,you saw how big the gap was after the NFP.Now imagine what would happen if the number was much better then expected.We would have huge gap to the upside and you will lose big-time if we take into account your power.I hope you know what I mean

There's going to be more question but right now I have to spend some more time with your two pictures

Once again I appreciate that you shared another piece of your knowledge !

God Bless You

Yeah Dove,we understand - no problem this time

the ministry of economy in japan anounced today japan is going to inhance its investments in forex they have tons of reserves!!!
forex trading

To answer your question as to the announcement..... Number one; the numbers where wrong if you had brought up the actual reading...... Number 2 - Of the years I have been in this market only once I have ever seen it go against the trend...... So in this respect I was sure it was going down..... But, in case I was wrong I did have a 10 pip lost on my trade And if it had taken me out then I would of immediately got into the right trade.... But in this case, I was right and it was a gamble but as I have said in the past.... "No announcement can change a trend, only the trend itself."

Why with pivots?

Because there isn't always a trend to jump into..... When the market is sideways then that is where the pivots come in...... It will always go up and down between those pivots when the market is sideways. And these indicators will always let you know when a trend hits and when the market is consolidating or going sideways.

There is no draw back in this system...... It works 100% of the time.

Thanks for the answer Dove.

If you state that your system works 100% the time then .... I don't know what to say - Noble Prize isn't enough for you,you are genius,you found Holy Grail

Cheers

lets see what happens the next week but in my opinion u/j has been falling on floor levels since last week and not on straight line also being heavily influenced by stocks especially dow jones.

the other things is the dow jones 13.000 Mark. strong psychological point thats probably not gonna be lost so easily, i see next week an upper attempt to 115 again, or a bad number NFP report is the end of the world, the stocks and everything? so carry traders are gonna give up and start crying?
dont think so...
just went long on 113.15, tp 114.50

I'm not a genius nor is this my system...... Remember this always: This system came from my Lord Jesus.... It is His, and not mine. That is why it is 100%.