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Intra Day Yen - Naked

  • #161
  • Feb 13, 2008 7:48am Feb 13, 2008 7:48am
The spike has been caused by good US Retail Sales data - and went to 211.89 - over 100 pips from the entry on the exit from the DZ on the last chart that I posted at 11:16 GMT....I took some partial profits in case there is a pull back.

T1 is at 212.02 and T2 at 213.39, which will be 303 pips from the low just before FO.
Trading Levels with WRBs
  • #162
  • Feb 13, 2008 7:49am Feb 13, 2008 7:49am
Quoting galaxymom
I didn't do the short trades to night, but I bought the dips on the 3 sister pairs for 298 pips, with 2 positions still open, with a BE s/l.

I've got my groove back!

Sorry, not bragging, but I'm just so happy!
Way to GM I am happy for you. It sure feels good when everything rocks!!

Nikki
  • #163
  • Feb 13, 2008 8:17am Feb 13, 2008 8:17am
Quoting Islander
Thanks NAL

The Daily Pivot level is the prior days High+Low+Close/3 ....from this a number of other levels are calculated - usually R1 & R2, SI and S2 - the M levels are the mid points.

This system was first used by the floor traders in the old Pits where open outcry trading took place - like way before anything electronic - when the sliderule was high tech!

Dove Alliance did some excellent work and explainations in the UJ thread some 6 or 9 months ago - you'll get good info there.

These levels are useful, especially in the Yen pairs.
Thank you for explanation!
  • #164
  • Feb 13, 2008 8:24am Feb 13, 2008 8:24am
This is where I have drawn my Fib, is it correct? If so, will next target will be T1 - 212.27, which is also R2 and just below daily T2?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 19 KB
  • #165
  • Feb 13, 2008 8:50am Feb 13, 2008 8:50am
The big picture is always the best :


AL to Target 1 for a nice move
Attached Image (click to enlarge)
Click to Enlarge Name: big picture.jpg Size: 103 KB
  • #166
  • Feb 13, 2008 8:53am Feb 13, 2008 8:53am
Quoting NowAndLater
This is where I have drawn my Fib, is it correct? If so, will next target will be T1 - 212.27, which is also R2 and just below daily T2?
The fib on the left of your sceen is the one that I have and am still using as the active fib - OK, so it already hit T2, BUT I'm waiting to be convinced that its put in a high and is pulling back.

Your right side fib is assuming that the high is in at 212.25 and its already moved higher....IF the current high of 212.48 holds and price pulls back close to the 212 level, then I'll draw a new fib from the low at 210.87....
Trading Levels with WRBs
  • #167
  • Feb 13, 2008 8:56am Feb 13, 2008 8:56am
Quoting NowAndLater
This is where I have drawn my Fib, is it correct? If so, will next target will be T1 - 212.27, which is also R2 and just below daily T2?

Can you post the indicator which show buyers and sellers, it's damn interesting, please ?

Concerning your fibos, i'm on the learning state, but as you could see on my picture i keep it simple, just the high and low of yesterday.

Thanks
  • #168
  • Feb 13, 2008 8:58am Feb 13, 2008 8:58am
Quoting crashout
The big picture is always the best :


AL to Target 1 for a nice move

Nice one - the "best" one is IMO just personal choice - the longer the TF, the wider the fibs and larger the risk - but higher TFs are better when you have less time to be close to your 'puter...both give us plenty of pips if traded correctly....http://www.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #169
  • Feb 13, 2008 9:04am Feb 13, 2008 9:04am
Quoting Islander
Nice one - the "best" one is IMO just personal choice - the longer the TF, the wider the fibs and larger the risk - but higher TFs are better when you have less time to be close to your 'puter...both give us plenty of pips if traded correctly....http://www.forexfactory.com/images/icons/icon7.gif
That's right, we need the both worlds
  • #170
  • Feb 13, 2008 9:16am Feb 13, 2008 9:16am
Hope you all got the easy breakout from 211.45 to both 15m and 5m fibs targets at 212.15...well, I did.

Maxwells

Happy pipping to all.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY.jpg Size: 207 KB
  • #171
  • Feb 13, 2008 9:17am Feb 13, 2008 9:17am
Quoting crashout
Can you post the indicator which show buyers and sellers, it's damn interesting, please ?

Concerning your fibos, i'm on the learning state, but as you could see on my picture i keep it simple, just the high and low of yesterday.

Thanks
Here it is:
Attached File(s)
File Type: mq4 Buyers and Sellers.mq4   2 KB | 488 downloads
  • #172
  • Feb 13, 2008 9:19am Feb 13, 2008 9:19am
Quoting Islander
The fib on the left of your sceen is the one that I have and am still using as the active fib - OK, so it already hit T2, BUT I'm waiting to be convinced that its put in a high and is pulling back.

Your right side fib is assuming that the high is in at 212.25 and its already moved higher....IF the current high of 212.48 holds and price pulls back close to the 212 level, then I'll draw a new fib from the low at 210.87....
Thank you Islander!
  • #173
  • Feb 13, 2008 9:24am Feb 13, 2008 9:24am
[quote=Islander;1848816]Thanks, now I can see it and allowing for different brokers, it is the same as the one that I posted earlier - so I guess that means that you're on the correct track.... http://www.forexfactory.com/images/icons/icon12.gif

Edit: and for those trading the 15m TF and buying on the exit of the DZ, you were long from 209.82 - nice one![/quote]

Hit T1 at 212.17 for more than 230 pips - that's a good trade!
Trading Levels with WRBs
  • #174
  • Feb 13, 2008 9:37am Feb 13, 2008 9:37am
Can I ask you guys where your current fibs are (0, 100) for GU, GJ, UJ on the 5 and 15 min TF?
  • #175
  • Feb 13, 2008 9:39am Feb 13, 2008 9:39am
I had a couple of 'puter problems earlier - an automatic update happened and rebooted my 'puter whilst I went to get a coffee - and I may have missed posting the Yellow IFibs that I talked about.

Now I've walked that IFib to the Gold ones - I mentioned a couple of posts ago that I was waiting to place these...
Attached Image (click to enlarge)
Click to Enlarge Name: feb 13 5m gj 1530.gif Size: 15 KB
Trading Levels with WRBs
  • #176
  • Edited 10:05am Feb 13, 2008 9:45am | Edited 10:05am
Quoting NowAndLater
Can I ask you guys where your current fibs are (0, 100) for GU, GJ, UJ on the 5 and 15 min TF?
Here's the 15m .....still active....
Attached Image (click to enlarge)
Click to Enlarge Name: feb 13 15m gj 1545.gif Size: 10 KB
Trading Levels with WRBs
  • #177
  • Feb 13, 2008 9:49am Feb 13, 2008 9:49am
Quoting NowAndLater
Can I ask you guys where your current fibs are (0, 100) for GU, GJ, UJ on the 5 and 15 min TF?
GU 5m is from 9548 to 9654 and UJ 5m 107.44 to 108.36

GU 15m 9548 to 9654 - active Buy from 9560

UJ 15m 106.34 to 107.52 - Buy was at 107.09, T2 hit at 108.24
Trading Levels with WRBs
  • #178
  • Feb 13, 2008 9:52am Feb 13, 2008 9:52am
Quoting NowAndLater
Here it is:
Thank you very much .

Will study it.
  • #179
  • Feb 13, 2008 10:01am Feb 13, 2008 10:01am
[quote=Islander;1849383]I had a couple of 'puter problems earlier - an automatic update happened and rebooted my 'puter whilst I went to get a coffee - and I may have missed posting the Yellow IFibs that I talked about.

Now I've walked that IFib to the Gold ones - I mentioned a couple of posts ago that I was waiting to place these...[/quote]


Nice Buy off these gold IFibs out of the DZ at 211.88 - keep an eye on this entry as its looking tired...
Trading Levels with WRBs
  • #180
  • Feb 13, 2008 10:04am Feb 13, 2008 10:04am
Quoting Islander
GU 5m is from 9548 to 9654 and UJ 5m 107.44 to 108.36

GU 15m 9548 to 9654 - active Buy from 9560

UJ 15m 106.34 to 107.52 - Buy was at 107.09, T2 hit at 108.24
Cheers!

I find it more troubling drawing the 15M fibs, but the 5M was spot on.
Just one thing: I have the UJ low from the 5bar low 107.49 instead. What do you think about that?
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