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JPY Pivots and Trends

  • #201
  • Sep 17, 2007 6:03am Sep 17, 2007 6:03am
Ok,so now I presume that we just have had cross,right ? If so,then how you manage such situation ? We are ahead of possible turnaround but on the other hand we just have moved sharply on 3min chart and it is clearly overbought.

In that case do you wait for the cross to the downside (on 3min chart) as retrace and then you jump on cross to the upside(on 3 min chart) ?
  • #202
  • Sep 17, 2007 6:04am Sep 17, 2007 6:04am
Remember the pivots..... we got the daily and the mid point that it has been playing between all night.....
The Dove - Forex Trainer
  • #203
  • Sep 17, 2007 6:06am Sep 17, 2007 6:06am
Yeah .. that's what I'd plan to do...
Wait for the retrace... but based on my own previous indicators with Linear Regression, sometimes the retrace never really comes... it just get back into the uptrend...

Quoting PolishTrader

In that case do you wait for the cross to the downside (on 3min chart) as retrace and then you jump on cross to the upside(on 3 min chart) ?
Chances favour the prepared.
  • #204
  • Sep 17, 2007 6:08am Sep 17, 2007 6:08am
Quoting PolishTrader
Ok,so now I presume that we just have had cross,right ? If so,then how you manage such situation ? We are ahead of possible turnaround but on the other hand we just have moved sharply on 3min chart and it is clearly overbought.

In that case do you wait for the cross to the downside (on 3min chart) as retrace and then you jump on cross to the upside(on 3 min chart) ?
Your 10 minute is still up which means it's not over bought. But you have the daily right above it..... So this thing may be bouncing between those pivots and the 3 minute will let you know on that.
The Dove - Forex Trainer
  • #205
  • Sep 17, 2007 6:14am Sep 17, 2007 6:14am
Eventually you will notice that when this thing is in a long trend it does not matter how many pips it takes for the turn around because you are still looking at 30+ pips on every turn around...... But when you have it in this scenario, with pivots that are in play, you still can pull 15+ pips just bouncing with it on every turn around.
The Dove - Forex Trainer
  • #206
  • Sep 17, 2007 6:21am Sep 17, 2007 6:21am
Looks like the trend is starting change if I'm reading Dove's charts correctly.

Need to wait for the hourly and 30 min to close but it seems longs are in play to me.

If I'm talking cobblers please let me know.

Ta,

G-Man
  • #207
  • Sep 17, 2007 6:22am Sep 17, 2007 6:22am
Cool... yeah.. think it work too 15pips sounds good enough..
But will "virtual trade" it this time...

Quoting dove_alliance
Eventually you will notice that when this thing is in a long trend it does not matter how many pips it takes for the turn around because you are still looking at 30+ pips on every turn around...... But when you have it in this scenario, with pivots that are in play, you still can pull 15+ pips just bouncing with it on every turn around.
Chances favour the prepared.
  • #208
  • Sep 17, 2007 6:23am Sep 17, 2007 6:23am
Quoting G-Man
Looks like the trend is starting change if I'm reading Dove's charts correctly.

Need to wait for the hourly and 30 min to close but it seems longs are in play to me.

If I'm talking cobblers please let me know.

Ta,

G-Man
The trend change on the last hour candle.
The Dove - Forex Trainer
  • #209
  • Sep 17, 2007 6:26am Sep 17, 2007 6:26am
Quoting dove_alliance
The trend change on the last hour candle.
Thanks Dove.

And according to the 3 we are now in a retrace, so we are waiting for another cross of the yellow and green to go long.

G-Man
  • #210
  • Sep 17, 2007 6:27am Sep 17, 2007 6:27am
Went with a small short at 114.97
Let's see where it goes...
Chances favour the prepared.
  • #211
  • Sep 17, 2007 6:32am Sep 17, 2007 6:32am
Quoting jasonowl
Went with a small short at 114.97
Let's see where it goes...
The 3 and the 10 work together so remember that.....
The Dove - Forex Trainer
  • #212
  • Sep 17, 2007 6:37am Sep 17, 2007 6:37am
Yeah, crazy trade, out at 0.

Quoting dove_alliance
The 3 and the 10 work together so remember that.....
Chances favour the prepared.
  • #213
  • Sep 17, 2007 6:41am Sep 17, 2007 6:41am
Quoting jasonowl
Yeah, crazy trade, out at 0.
I was hoping you catch it..... the 10 is still up.....
The Dove - Forex Trainer
  • #214
  • Sep 17, 2007 6:45am Sep 17, 2007 6:45am
Your 3 and 10 are for the retraces but they work together...... 20, 30 and 60 are for the trends and they also work together.......
The Dove - Forex Trainer
  • #215
  • Sep 17, 2007 6:53am Sep 17, 2007 6:53am
Dove,so it seems that it is better to wait for 10min to cross (or to settle the "trend" like now still UP) and then jump on on 3min cross.

I'm presuming that because you can't guess if the current cross on 3min will lead also to cross on 10min,can you ?

Like in jasonowl situation.He jump on it because he saw cross on 3min but the 10 was still up.
  • #216
  • Sep 17, 2007 6:55am Sep 17, 2007 6:55am
Back in Long at 115.07. (115.04 bid actually, do we normally mention about bid/ask price for longs?)
Let's take it to central...
Chances favour the prepared.
  • #217
  • Sep 17, 2007 7:00am Sep 17, 2007 7:00am
Quoting PolishTrader
Dove,so it seems that it is better to wait for 10min to cross (or to settle the "trend" like now still UP) and then jump on on 3min cross.

I'm presuming that because you can't guess if the current cross on 3min will lead also to cross on 10min,can you ?

Like in jasonowl situation.He jump on it because he saw cross on 3min but the 10 was still up.
That is correct you must be focus on BOTH charts before you go against the trend..... That 30 minute and one hour candle on the last hour change the trend......
The Dove - Forex Trainer
  • #218
  • Sep 17, 2007 7:06am Sep 17, 2007 7:06am
This is the reason why the 10 minute is not the same as the other timeframes... The 10 minute will keep you focus on the trend as the 3 minute shows a retrace...... If it is out of sync then you will know what is happening.
The Dove - Forex Trainer
  • #219
  • Sep 17, 2007 7:08am Sep 17, 2007 7:08am
Hard hit at the 30 bollinger.
The Dove - Forex Trainer
  • #220
  • Sep 17, 2007 7:08am Sep 17, 2007 7:08am
I kinda knew it was a low-probability trade.
It was an unnecessary risk actually, but I'm trying out FXSol trading platform, and wanted to try and practice my entries, and I trade th live account to throw in control of the emotional state...

Quoting PolishTrader
Dove,so it seems that it is better to wait for 10min to cross (or to settle the "trend" like now still UP) and then jump on on 3min cross.

I'm presuming that because you can't guess if the current cross on 3min will lead also to cross on 10min,can you ?

Like in jasonowl situation.He jump on it because he saw cross on 3min but the 10 was still up.
Chances favour the prepared.
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