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USD/JPY Discussion

  • #8,061
  • Jun 12, 2008 3:26pm Jun 12, 2008 3:26pm
Quoting dove_alliance
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 chat......
I will definitely do that!
Thanks for the tip!
  • #8,062
  • Jun 12, 2008 3:33pm Jun 12, 2008 3:33pm
wow alot of action for this time.


The euro crosses are pretty active....interesting.
  • #8,063
  • Edited 4:01pm Jun 12, 2008 3:41pm | Edited 4:01pm
Interesting chart not UJ but interesting

Looking for trend to resume high reward to risk ratio
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EC.png Size: 14 KB
Click to Enlarge Name: ec2.png Size: 17 KB
Click to Enlarge Name: eu.png Size: 17 KB
  • #8,064
  • Jun 12, 2008 4:04pm Jun 12, 2008 4:04pm
The new daily pivot is at 107.63 - exactly the same as the weekly R2.
Together they make both a strong support, and a level worth testing.
I expect sideways consolidation between the daily central (107.97) and 107.63

I am short with a small lot @ 107.95, target -midway between the pivots @ 107.81
"Luxury is one of the basic needs", (c), Don Corleone
  • #8,065
  • Jun 12, 2008 4:28pm Jun 12, 2008 4:28pm
Quoting Firstboss
The new daily pivot is at 107.63 - exactly the same as the weekly R2.
Together they make both a strong support, and a level worth testing.
I expect sideways consolidation between the daily central (107.97) and 107.63

I am short with a small lot @ 107.95, target -midway between the pivots @ 107.81
And I am long with the e/u and already up 8 pips
The Dove - Forex Trainer
  • #8,066
  • Jun 12, 2008 4:38pm Jun 12, 2008 4:38pm
Quoting Firstboss
The new daily pivot is at 107.63 - exactly the same as the weekly R2.
Together they make both a strong support, and a level worth testing.
I expect sideways consolidation between the daily central (107.97) and 107.63

I am short with a small lot @ 107.95, target -midway between the pivots @ 107.81
yeah!
I'm short too from 108.00
  • #8,067
  • Jun 12, 2008 5:39pm Jun 12, 2008 5:39pm
I just shorted UJ @ 107.87
I just bought EU @ 1.5465

Come on pivots!
  • #8,068
  • Jun 12, 2008 5:48pm Jun 12, 2008 5:48pm
Quoting pipmac
Interesting chart not UJ but interesting

Looking for trend to resume high reward to risk ratio
hello everyone !!

yep.. euro seems to have strong support at those levels. my question here is how much it can affect UJ.. i remember dove said that he expects UJ to have a reversal to the downside when usd stops quenching the euro. i've already gone long in eurusd BUT im not pretty sure when or where go short in UJ.
... /$ -> LONG
  • #8,069
  • Jun 12, 2008 5:54pm Jun 12, 2008 5:54pm
Quoting MaZae
hello everyone !!

yep.. euro seems to have strong support at those levels. my question here is how much it can affect UJ.. i remember dove said that he expects UJ to have a reversal to the downside when usd stops quenching the euro. i've already gone long in eurusd BUT im not pretty sure when or where go short in UJ.
I am already in the short with the U/J with a limit at the S1 and long with the E/U with a limit at the R1.... I hope that answered your question
The Dove - Forex Trainer
  • #8,070
  • Jun 12, 2008 6:04pm Jun 12, 2008 6:04pm
Quoting dove_alliance
I am already in the short with the U/J with a limit at the S1 and long with the E/U with a limit at the R1.... I hope that answered your question
yeah, thanks.. i've done the same thing ..
still don't know where is R1 level but ill use a trailing stop.
... /$ -> LONG
  • #8,071
  • Jun 12, 2008 6:08pm Jun 12, 2008 6:08pm
Quoting dwildes
I just shorted UJ @ 107.87
I just bought EU @ 1.5465

Come on pivots!

samecwith me...
buy EU..sell UJ
  • #8,072
  • Jun 12, 2008 6:18pm Jun 12, 2008 6:18pm
Quoting tma_21
samecwith me...
buy EU..sell UJ
Awesome!
We'll see if it's the right decision in a few hours.
  • #8,073
  • Jun 12, 2008 6:21pm Jun 12, 2008 6:21pm
Quoting dwildes
Awesome!
We'll see if it's the right decision in a few hours.

  • #8,074
  • Jun 12, 2008 6:24pm Jun 12, 2008 6:24pm
Dove....

You seem to know a lot about banks, how they dominate the markets and also, based on your statements, about the way they trade. This makes a lot of sense.

Before you started to post again I went over ALL your posts from last year and I remember you telling people you where a truck driver. Were you joking? If it was not a joke, how did you get all this knowledge?

Thanks !!!
For he that would be deceived, let him.
  • #8,075
  • Jun 12, 2008 6:36pm Jun 12, 2008 6:36pm
Dove, can you briefly describe how you get support and resistance using pivot points calculator? Do you calculate pivot points for each time frame? Thanks
  • #8,076
  • Jun 12, 2008 6:45pm Jun 12, 2008 6:45pm
Quoting pinchapip
Dove....

You seem to know a lot about banks, how they dominate the markets and also, based on your statements, about the way they trade. This makes a lot of sense.

Before you started to post again I went over ALL your posts from last year and I remember you telling people you where a truck driver. Were you joking? If it was not a joke, how did you get all this knowledge?

Thanks !!!
If you study the history of the foreign exchange market you will find it was started by the banks and was only for the banks until they open the market for those who had $100,000 for a live account and as the years went by it was finally open to the public.

I was not joking when I said I was once a truck driver and my knowledge came from my Lord Jesus....... You asked and I told you.
The Dove - Forex Trainer
  • #8,077
  • Jun 12, 2008 6:48pm Jun 12, 2008 6:48pm
Quoting Viktord
Dove, can you briefly describe how you get support and resistance using pivot points calculator? Do you calculate pivot points for each time frame? Thanks
Pivots are calculated from High, Low, and Close of the previous day and previous week.
You can use numerous pivot calculators online, for example,
http://www.mypivots.com/Education/to...ot-calculator/
but they are all based on the following formulas

Resistance 3 = High + 2*(Pivot - Low)
Resistance 2 = Pivot + (R1 - S1)
Resistance 1 = 2 * Pivot - Low
Pivot Point = ( High + Close + Low )/3
Support 1 = 2 * Pivot - High
Support 2 = Pivot - (R1 - S1)
Support 3 = Low - 2*(High - Pivot)

I typed these into Excel so I can calculate all the pivots in a nice table and quickly copy several currency pair pivots on a single table that fits on a page.
Print it out and keep by your trading station :-)
"Luxury is one of the basic needs", (c), Don Corleone
  • #8,078
  • Edited 7:02pm Jun 12, 2008 6:49pm | Edited 7:02pm
Quoting Viktord
Dove, can you briefly describe how you get support and resistance using pivot points calculator? Do you calculate pivot points for each time frame? Thanks
Pivot points are calculated off the daily chart at 17:00 ET. You take the high, the low, and the closing of that candle and enter it into a calculator and here is the link for that calculator which is a free download and a very good calculator at that.....

http://www.bestvistadownloads.com/so...-uyiktrtd.html

With this calculator you will also include the opening of that daily candle.
The Dove - Forex Trainer
  • #8,079
  • Jun 12, 2008 6:55pm Jun 12, 2008 6:55pm
If anyone gets into profit do not let it take you into the negative...... The reason I say this is because the EUR retraced back under the pivot and it must get above the pivot in order to continue...... this movement also affects the yen.
The Dove - Forex Trainer
  • #8,080
  • Jun 12, 2008 6:57pm Jun 12, 2008 6:57pm
Dove,

What is the number that you use as the pivot by the way ?
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