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USD/JPY Discussion

  • #8,041
  • Jun 12, 2008 2:15pm Jun 12, 2008 2:15pm
Quoting dwildes
Exactly what I'm seeing.
I heard they work best though when they are all in agreement and especially when they travel over the 80 heading down from overbought and 20 up from oversold?
That is true, but like anything else in this market, you have to be patient.
The Dove - Forex Trainer
  • #8,042
  • Jun 12, 2008 2:22pm Jun 12, 2008 2:22pm
I see Uj getting back to reality at 105.5-ish before resuming up.
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  • #8,043
  • Edited 2:26pm Jun 12, 2008 2:24pm | Edited 2:26pm
Warren you know that the dow will be down 500 how do you know that? I thought we trade probabilities not certainties? Fundamentals don't drive the market thats an allusion. The setup is already in my friend. How many fundamentals does it take to screw in a light bulb?


Zero don't matter they all come up with a different way to screw it.


Forget it I'm all in!!!!!!!!
  • #8,044
  • Jun 12, 2008 2:26pm Jun 12, 2008 2:26pm
The problem is that investors are considering the USD/JPY oversold despite the DOW not rising much in price. The carry/equity connection right now is worth nothing and it will be interesting to see if/when it resumes.



Quoting Warren Forex
Excuse Me ! Do not take it personal !!! Perhaps I projected my frustration with some others here on you. I apologize. Let us start over. Please ask as many questions as you want. I will answer them all.

Good Trading. I DOUBT USD/JPY is GOING OVER 108.35 Anytime Soon, Charts or NO Charts. What Happens if the Dow Goes Down 250 again as it might any minute now. Look at the Dow Charts if you trade USD/JPY.

I hope that allows us to resume positive interchanges.

Bruce
  • #8,045
  • Jun 12, 2008 2:28pm Jun 12, 2008 2:28pm
u/j will go down.

DOW is surely closing lower for today.
  • #8,046
  • Jun 12, 2008 2:32pm Jun 12, 2008 2:32pm
Quoting uncleforex
u/j will go down.

DOW is surely closing lower for today.
Sure is looking that way.
As much as I'm itching to short it - I'm going to wait for the Tokyo session.
Everyday this week I've trade in the afternoons, I lose. Today I haven't traded and I'm keeping my profits!
  • #8,047
  • Jun 12, 2008 2:33pm Jun 12, 2008 2:33pm
Quoting uncleforex
u/j will go down.

DOW is surely closing lower for today.
I certainly hope so .....
  • #8,048
  • Jun 12, 2008 2:37pm Jun 12, 2008 2:37pm

Attached Image (click to enlarge)
Click to Enlarge Name: uj_s64_6128.gif Size: 21 KB
  • #8,049
  • Jun 12, 2008 2:37pm Jun 12, 2008 2:37pm
Quoting Schminner
I certainly hope so .....
Poor Schminner.....
We're rooting for you buddy - if you get out of this one, please - for the love - use a stop loss next time. "I" can't sleep at night knowing your loss *hahah*
  • #8,050
  • Jun 12, 2008 2:38pm Jun 12, 2008 2:38pm
Here is something that will tweak everyone's balls and that is the traders for the banks of the world....... Every major bank across the world has a unique setup for their traders. Depending on the time and also the movement of the trend will a bank trader make a trade and does so upon the setup he is inclined with the commander in charge of the trading for the session...... In other words. The banks control this market because the market belongs to the banks and always have been.... All your major moves are done by the banks and not by the traders....... Do you know that it takes billions of dollars to spike this market and is done so by a bank...... That is why there is more than 2 trillions dollars that flow through this market each and every trading day.
The Dove - Forex Trainer
  • #8,051
  • Jun 12, 2008 2:38pm Jun 12, 2008 2:38pm
Quoting dwildes
Poor Schminner.....
We're rooting for you buddy - if you get out of this one, please - for the love - use a stop loss next time. "I" can't sleep at night knowing your loss *hahah*
Will do, and I'll probably take a break from "shorting" this pair .....
  • #8,052
  • Jun 12, 2008 2:40pm Jun 12, 2008 2:40pm
Quoting fxterrapin
The problem is that investors are considering the USD/JPY oversold despite the DOW not rising much in price. The carry/equity connection right now is worth nothing and it will be interesting to see if/when it resumes.
It will probably resume when you least expect it.

Dollar strength is false, when the Fed meets on June 25th and does not raise the rates, which are now just about priced into the market, the bottom will fall out.

JMHO.

Good luck to all trading !

Nice to see Dove Alliance back !
  • #8,053
  • Jun 12, 2008 2:41pm Jun 12, 2008 2:41pm
Quoting Schminner
I certainly hope so .....
schminner.. are you still going short? ...
... /$ -> LONG
  • #8,054
  • Jun 12, 2008 2:43pm Jun 12, 2008 2:43pm
Quoting Schminner
Will do, and I'll probably take a break from "shorting" this pair .....
Well, I wouldn't completely rule it out. Let the market decide where it wants to go and you just follow it like a love sick puppy, and learn those pivots. Since reading Dove's methods on pivots, it has made a substantial difference in my trading for the better. I just need to get better at entry/exit & knowing reversals and retraces.
  • #8,055
  • Jun 12, 2008 2:49pm Jun 12, 2008 2:49pm
I see DOW reaching 11993 tomorrow
  • #8,056
  • Jun 12, 2008 2:55pm Jun 12, 2008 2:55pm
Quoting emda
I see DOW reaching 11993 tomorrow
Sounds nice but maybe much lower.

Surely many stops below 12k.
  • #8,057
  • Jun 12, 2008 2:55pm Jun 12, 2008 2:55pm
Quoting emda
I see DOW reaching 11993 tomorrow
Why? You expect bad CPI numbers or just a feeling?
  • #8,058
  • Jun 12, 2008 2:58pm Jun 12, 2008 2:58pm
Quoting dove_alliance
No - I do not use them, they are unreliable..... The oscillators could, and do so, remain in the overbought or oversold for hours on end and even for days when there is no room to move any further.
Agreed, this is a problem of the typical "bounded" oscillator that has been constricted to a +/- 100 range. However, I have seen others that are "unbounded" by this range idea and thus do not suffer from the long periods in overbought / oversold territory.....the last one that I used was by Jim Sloman in his Ocean Theory set ups....but I stopped paying for his updates....anyone got any other ideas.....IMO they can help for those of us at a lower level of ability.....
Trading Levels with WRBs
  • #8,059
  • Jun 12, 2008 3:02pm Jun 12, 2008 3:02pm
Quoting Islander
Agreed, this is a problem of the typical "bounded" oscillator that has been constricted to a +/- 100 range. However, I have seen others that are "unbounded" by this range idea and thus do not suffer from the long periods in overbought / oversold territory.....the last one that I used was by Jim Sloman in his Ocean Theory set ups....but I stopped paying for his updates....anyone got any other ideas.....IMO they can help for those of us at a lower level of ability.....
I've been using the 5,3,3 stochastic around the Pivots and it helps me decide to enter.
Example:
We are at a pivot and we are expecting an upward move due to the major trend.
If the price hovers around the pivot where the M5, M15 are heading down, I'll wait on my purchase. Once the M5 starts to curve back up and we take a few PIPs above the pivot line, I'll buy. This has been effective for me this week at least.
  • #8,060
  • Jun 12, 2008 3:22pm Jun 12, 2008 3:22pm
Quoting dwildes
I've been using the 5,3,3 stochastic around the Pivots and it helps me decide to enter.
Example:
We are at a pivot and we are expecting an upward move due to the major trend.
If the price hovers around the pivot where the M5, M15 are heading down, I'll wait on my purchase. Once the M5 starts to curve back up and we take a few PIPs above the pivot line, I'll buy. This has been effective for me this week at least.
If you are looking for something as a tool and not as indicator that will help you to accumulate 20 or 40 pips then use the slow_k with the setting at 20,5,5.... on the 1 hour chart......
The Dove - Forex Trainer
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