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USD/JPY Discussion

  • #7,941
  • Jun 12, 2008 12:57am Jun 12, 2008 12:57am
Quoting dwildes
hahah - I bet!
I'm just trying to figure out the retracement vs. reversals and how to pick them out. That is definitely a weakness of mine
Yesterday price bounced from the 200ema on the 30 min chart and 60ema on the hourly chart. On All time frames higher than 5 min the 60EMA was above 200, which means the treand is up. When the faster ema crosses the slower one, this ussualy means reversal.
Hope this helps.
  • #7,942
  • Jun 12, 2008 12:57am Jun 12, 2008 12:57am
Quoting Warren Forex
Fundy's Please Read !!! All Others Ignore !!!
Who is it exactly that you think has the time to read all the yards of whatever that is you post, actually consider it, and then also trade?? Talk about messin with someones head...

Have you EVER considered starting a thread for that stuff and then STAYING there? What part of "USD/JPY" do you not get?

Related issues are one thing. All the news, events and opinions going on around the planet at any given time is something else.

"All Others Ignore!!!" Well, I took your advice and added you to my ignore list on the off chance I'd be able to visit this thread again w/o goin nuts. Answer away if you must, but I won't be able to see it.
FUBAR...
  • #7,943
  • Jun 12, 2008 12:58am Jun 12, 2008 12:58am
Quoting scyang
Do you expect people to "die" within a year (blowing up their account) and give up forex trading?
I've seen it done time and time again......
The Dove - Forex Trainer
  • #7,944
  • Jun 12, 2008 1:12am Jun 12, 2008 1:12am
Price excellerated downward after breaking 107.30 in late london session yesterday. A break above that level would probably revisit the highs at 107.73---at least.

It seems like it's a tough nut to crack. So a break would make it a good support level for tonights trading...anyway...

So a buy at 107.40 close at 107.70 and rebuy at 107.40
  • #7,945
  • Jun 12, 2008 1:18am Jun 12, 2008 1:18am
Quoting dove_alliance
I've seen it done time and time again......
That happens only too easily.
Expected the unexpected
  • #7,946
  • Jun 12, 2008 1:36am Jun 12, 2008 1:36am
We should easily see the daily R1 tonight....another 20 pips or so....take my 80 pips then and hit the bed!!!...

Quoting pipmac
Price excellerated downward after breaking 107.30 in late london session yesterday. A break above that level would probably revisit the highs at 107.73---at least.

It seems like it's a tough nut to crack. So a break would make it a good support level for tonights trading...anyway...

So a buy at 107.40 close at 107.70 and rebuy at 107.40
  • #7,947
  • Jun 12, 2008 1:38am Jun 12, 2008 1:38am
Hi. I appreciate for your advice. I have just noticed that all the negative news lately have not affect the daily move of USD/JPY much. Even if it came out, it just bounced back like it did on last Friday and today.

I guess this pair will again try breaking the 200 ema line on the daily chart. I will be staying bullish on this one until then.

Quoting s3padrian
Good, I'm glad it works for you. The current daily trend is up, but a reversal seems eminent. You might have to reverse your thoughts on that soon.
  • #7,948
  • Jun 12, 2008 1:51am Jun 12, 2008 1:51am
Quoting scyang
That happens only too easily.
Been there before and again ... lol
  • #7,949
  • Jun 12, 2008 1:51am Jun 12, 2008 1:51am
Quoting Mrpipmaster
We should easily see the daily R1 tonight....another 20 pips or so....take my 80 pips then and hit the bed!!!...
Thats awesome..

HOpe it can go to R1...It left an ugly 15 minute candle...If this reverses back below 107.30 it could mean more down...

I put my stop at 107.18 to be safe.
  • #7,950
  • Edited 1:59am Jun 12, 2008 1:56am | Edited 1:59am
GM all - here's how I'm now setting up my charts - I'm no longer naked! - I've added an EMA - here the 13. This enables me to quickly check the action over the 10 or so charts that I watch AND its an excellent guide to price action.

I've never managed to get on with Bollinger Band - I prefer a fixed band around my chosen MA - here is +/- 50.

For the rest, I have the pivots - and you all know who, last summer, put me onto those - thanks again Dove! - and where appropriate, I will draw a fibbo for retracement.

This all helps ME with my trading and I'm posting it in case it helps any of you guys too......

Yesterday, after the wide green candle, price consolidated before the wide red candle back thru the 13 ema, followed by a clearer break down - an easy sell.

Price was then held by the falling 13 ema untill it spiked down to touch the outer -50 band where it was oversold and started to pull back towards the 13ema - I think of this as a 10 pips wide ema - this next push down failed to carry thru and thus became a pull back scalp.

Fibbing that move gave a possible sell off the 50% retrace before the higher lows confirmed a Buy on the break of the 13 ema, which is now supporting price. Price is now above the daily pivot and the mid pivot, thus heading for R1.....some nice pips already locked in behind the 13 ema...http://www.forexfactory.com/images/icons/icon12.gif
Attached Image (click to enlarge)
Click to Enlarge Name: jne 12 uj 15m 0645.gif Size: 19 KB
Trading Levels with WRBs
  • #7,951
  • Jun 12, 2008 2:03am Jun 12, 2008 2:03am
Quoting Islander
GM all - here's how I'm now setting up my charts - I'm no longer naked! - I've added an EMA - here the 13. This enables me to quickly check the action over the 10 or so charts that I watch AND its an excellent guide to price action.

I've never managed to get on with Bollinger Band - I prefer a fixed band around my chosen MA - here is +/- 50.

For the rest, I have the pivots - and you all know who, last summer, put me onto those - thanks again Dove! - and where appropriate, I will draw a fibbo for retracement.

This all helps ME with my trading and I'm posting it in case it helps any of you guys too......

Yesterday, after the wide green candle, price consolidated before the wide red candle back thru the 13 ema, followed by a clearer break down - an easy sell.

Price was then held by the falling 13 ema untill it spiked down to touch the outer -50 band where it was oversold and started to pull back towards the 13ema - I think of this as a 10 pips wide ema - this next push down failed to carry thru and thus became a pull back scalp.

Fibbing that move gave a possible sell off the 50% retrace before the higher lows confirmed a Buy on the break of the 13 ema, which is now supporting price. Price is now above the daily pivot and the mid pivot, thus heading for R1.....some nice pips already locked in behind the 13 ema...http://www.forexfactory.com/images/icons/icon12.gif
Interesting setup. I'm naked and i see the same price points without pivots or MA's.

I'm gonna experiment with the 13 EMA ...thanks
  • #7,952
  • Jun 12, 2008 2:05am Jun 12, 2008 2:05am
OK BINGO - The R1 hit and that gives me 20 on my first trade with the yen and then 81 with the eur after that then another 40 with the eur from the S1 and now 20 more here with the yen again...... Let's see = that is a total of 161 pips for the night....... See everyone tomorrow.
The Dove - Forex Trainer
  • #7,953
  • Jun 12, 2008 2:11am Jun 12, 2008 2:11am
yes hit the R1 and thats 80 for me tonight....Dove have a great evening..once again good to hear from you....

Quoting dove_alliance
OK BINGO - The R1 hit and that gives me 20 on my first trade with the yen and then 81 with the eur after that then another 40 with the eur from the S1 and now 20 more here with the yen again...... Let's see = that is a total of 161 pips for the night....... See everyone tomorrow.
  • #7,954
  • Jun 12, 2008 2:15am Jun 12, 2008 2:15am
Quoting pipmac
Interesting setup. I'm naked and i see the same price points without pivots or MA's.

I'm gonna experiment with the 13 EMA ...thanks
NP - we all "see" the markets differently and this works for me.

Nice spike up in UJ to hit R1 - for me that's take some profit and allow the remainder to run until it touches the outer band, the next mid pivot OR yesterdays high at 107.75 - there I'll take some more profits....IF price gets there!

BTW, I also had a nice sell in GBPUSD with my chart set up the same way - just closed in the spike down thru S1 to touch the 13 ema -50 band....http://www.forexfactory.com/images/icons/icon10.gif
Trading Levels with WRBs
  • #7,955
  • Jun 12, 2008 2:25am Jun 12, 2008 2:25am
Yo Islander!! Just poppin in here from time to time from aus's, Uj and Eu makin Gy look like it's broke or somethin tonite.
FUBAR...
  • #7,956
  • Jun 12, 2008 2:42am Jun 12, 2008 2:42am
Quoting Islander
NP - we all "see" the markets differently and this works for me.

Nice spike up in UJ to hit R1 - for me that's take some profit and allow the remainder to run until it touches the outer band, the next mid pivot OR yesterdays high at 107.75 - there I'll take some more profits....IF price gets there!

BTW, I also had a nice sell in GBPUSD with my chart set up the same way - just closed in the spike down thru S1 to touch the 13 ema -50 band....http://www.forexfactory.com/images/icons/icon10.gif

Is that metatrader charting? Where can i find those pivots..Thanks
  • #7,957
  • Jun 12, 2008 2:50am Jun 12, 2008 2:50am
Quoting pipmac
Is that metatrader charting? Where can i find those pivots..Thanks
Correct - its from ODL set to GMT - here's the pivots....
Attached File(s)
File Type: mq4 SDX-TzPivots.mq4   23 KB | 282 downloads
Trading Levels with WRBs
  • #7,958
  • Jun 12, 2008 2:56am Jun 12, 2008 2:56am
Quoting ak4x
Yo Islander!! Just poppin in here from time to time from aus's, Uj and Eu makin Gy look like it's broke or somethin tonite.
Hi AK - me too just passing bye....lol a 192 pip move in the euro vs 154 in cable - its real nice of Mss Trichet and Benanke to put so much volatility into it - such clear signals......http://www.forexfactory.com/images/icons/icon6.gif
Trading Levels with WRBs
  • #7,959
  • Jun 12, 2008 4:12am Jun 12, 2008 4:12am
http://www.tradingcentral.com/chart/...0612094008.GIF
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  • #7,960
  • Jun 12, 2008 4:18am Jun 12, 2008 4:18am
http://quotes.ino.com/chart/?s=NYBOT_DX&v=s

Nice Spike UP at 3:00 AM at Europe Open


Bruce
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