USD/JPY Discussion | Page 416 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

USD/JPY

Similar Threads

USD/JPY Discussion 12 replies

NZD/JPY Discussion 12 replies

long eur/jpy, gbp/jpy, usd/jpy 11 replies

EUR/USD Bollinger Band Discussion 3 replies

Suidster's GBP/JPY Discussion 19 replies

Attachments: USD/JPY Discussion
Exit Attachments

USD/JPY Discussion

  • #8,301
  • Jun 15, 2008 10:07pm Jun 15, 2008 10:07pm
Quoting deanz
Dove my platform shows both the US session [email protected] and the Wellington [email protected] ....... 13 pips difference.

So just to confirm, you use US session close price during the week to calculate your pivots, but use wellington open price just for the start of the week ?

I wonder if this is why mondays [or sundays to some] take a bit of time to settle in and why some traders avoid the market until it get does get settled.

Dean.
All pips calculations is done at 17:00 ET on all trading days........ That includes Sundays....... Go back to the beginning of todays posting and read what I had said about calculating pips...... God bless,
The Dove - Forex Trainer
  • #8,302
  • Jun 15, 2008 10:12pm Jun 15, 2008 10:12pm
With all that movement going up in last few months I'm having hard time understanding why everyone wants to go short.
The Dove - Forex Trainer
  • #8,303
  • Jun 15, 2008 10:12pm Jun 15, 2008 10:12pm
Quoting dove_alliance
All pips calculations is done at 17:00 ET on all trading days........ That includes Sundays....... Go back to the beginning of todays posting and read what I had said about calculating pips...... God bless,
Dove,

You're aware that FX Solutions/FX Accucharts has an early Friday close at 16:30 right? I don't use their data for specifically this reason.

Usually there isn't much movement in that final half hour that could throw the pivot calcs off substantially, but it does happen from time to time.
  • #8,304
  • Jun 15, 2008 10:18pm Jun 15, 2008 10:18pm
Quoting Trader KGB
Dove,

You're aware that FX Solutions/FX Accucharts has an early Friday close at 16:30 right? I don't use their data for specifically this reason.

Usually there isn't much movement in that final half hour that could throw the pivot calcs off substantially, but it does happen from time to time.
Yes - I am aware and if one calculates with Friday's closing and Sunday's 17:00 ET calculations of the high, the low, and close it will come out exactly right....... You just have to be sure the high and low is right even if it flows into the Saturday calculation and using Sunday's close, at 16.59/17:00, you will get it right.
The Dove - Forex Trainer
  • #8,305
  • Jun 15, 2008 10:21pm Jun 15, 2008 10:21pm
The most important question is what quotes and times to most banks use to calculate the pivots?
Indeed, Friday 17-00 closed at 108.17. Dove used 108.04 which is 16:59 on Sunday, right before the official open.
What's even more interesting, the R1 pivot calculated with Dove's quote was hit exactly to the pip...
"Luxury is one of the basic needs", (c), Don Corleone
  • #8,306
  • Jun 15, 2008 10:26pm Jun 15, 2008 10:26pm
The
Accucharts will flow into Saturday after opening between 15:00 and 15:30 on Sunday. With the Accucharts opening on Sunday is still on Friday and will change at 16:00 on Sundays into Saturday and remain there until 17:00 for the new daily candle for Sunday. I hope that makes since..... smiling
The Dove - Forex Trainer
  • #8,307
  • Jun 15, 2008 10:28pm Jun 15, 2008 10:28pm
Quoting dove_alliance
Yes - I am aware and if one calculates with Friday's closing and Sunday's 17:00 ET calculations of the high, the low, and close it will come out exactly right....... You just have to be sure the high and low is right even if it flows into the Saturday calculation and using Sunday's close, at 16.59/17:00, you will get it right.
I follow you. I'm just not sure how that would incorporate the possibility of the daily high or low registering between 16:30 and 16:59 on Friday (a slim chance yes, but possible nonetheless).
  • #8,308
  • Jun 15, 2008 10:29pm Jun 15, 2008 10:29pm
Quoting Firstboss
The most important question is what quotes and times to most banks use to calculate the pivots?
Indeed, Friday 17-00 closed at 108.17. Dove used 108.04 which is 16:59 on Sunday, right before the official open.
What's even more interesting, the R1 pivot calculated with Dove's quote was hit exactly to the pip...
Sunday's pivot calculation is crucial for the fact of how the markets close on Friday...... The one reason I use the Accucharts is because the calculation for Sunday will come off the Friday - Saturday - and Sunday's candles..... Even though the market is close on Saturday the Accucharts will use Saturday as calculation period.
The Dove - Forex Trainer
  • #8,309
  • Jun 15, 2008 10:34pm Jun 15, 2008 10:34pm
Quoting Trader KGB
I follow you. I'm just not sure how that would incorporate the possibility of the daily high or low registering between 16:30 and 16:59 on Friday (a slim chance yes, but possible nonetheless).
IT does happen Trader, more time than you can imagine........ You have to remember, even though we do not see it until Sunday, during those 30 minute the USD is closing their trades for the previous week.
The Dove - Forex Trainer
  • #8,310
  • Jun 15, 2008 10:39pm Jun 15, 2008 10:39pm
Because that is what the professionals are going to do, that is the reason. They are setting people up thinking long. Once the setup is in and most traders are long. They will swoop in and take it down. Perfect for them create conditions where all your indicators are pointing up, get you on the wrong side of the trade then down she goes. It happens all the time, but what do I know I'm a new trader lol



Quoting dove_alliance
With all that movement going up in last few months I'm having hard time understanding why everyone wants to go short.
  • #8,311
  • Jun 15, 2008 10:40pm Jun 15, 2008 10:40pm
Quoting Trader KGB
I follow you. I'm just not sure how that would incorporate the possibility of the daily high or low registering between 16:30 and 16:59 on Friday (a slim chance yes, but possible nonetheless).
One other thing everyone is missing and that is the actual closing for Friday and it does not happen until Sunday at 17:00 ET..........
The Dove - Forex Trainer
  • #8,312
  • Jun 15, 2008 10:42pm Jun 15, 2008 10:42pm
Quoting dove_alliance
IT does happen Trader, more time than you can imagine........ You have to remember, even though we do not see it until Sunday, during those 30 minute the USD is closing their trades for the previous week.
Exactly, we both agree on the possibility of this happening. I'm still at a loss as to how you're making up for the lack of that price activity during that half hour (as Accucharts/FX Sol are both offline for the week at 16:30 Fri).

I understand your last post. Accucharts starts at 15:00 Sunday, but their open is not registered until 17:00 Sunday (which in their system, acts as the Friday close, that's why the change field is showing +23 pips, it's calculating that based upon the Sunday price at 17:00, not the price at 16:30 Friday).

However, that still doesn't incorporate the price activity occurring from 16:30 - 16:59 on Friday.
  • #8,313
  • Jun 15, 2008 10:42pm Jun 15, 2008 10:42pm
Quoting steelhead
Because that is what the professionals are going to do, that is the reason. They are setting people up thinking long. Once the setup is in and most traders are long. They will swoop in and take it down. Perfect for them create conditions where all your indicators are pointing up, get you on the wrong side of the trade then down she goes. It happens all the time, but what do I know I'm a new trader lol
Laughing - You trying to say that the professionals, as you call them, will let 1500 pips be accumulated.....? I hope they keep it up.......
The Dove - Forex Trainer
  • #8,314
  • Jun 15, 2008 10:45pm Jun 15, 2008 10:45pm
Quoting Trader KGB
Exactly, we both agree on the possibility of this happening. I'm still at a loss as to how you're making up for the lack of that price activity during that half hour (as Accucharts/FX Sol are both offline for the week at 16:30 Fri).

I understand your last post. Accucharts starts at 15:00 Sunday, but their open is not registered until 17:00 Sunday (which in their system, acts as the Friday close, that's why the change field is showing +23 pips, it's calculating that based upon the Sunday price at 17:00, not the price at 16:30 Friday).

However, that still doesn't incorporate the price activity occurring from 16:30 - 16:59 on Friday.
Well, Like I said above: It is the closing of Friday's daily candle going into Sunday that has a lot affect on the calculation.
The Dove - Forex Trainer
  • #8,315
  • Jun 15, 2008 10:48pm Jun 15, 2008 10:48pm
There are times Trader, when the low and/or the high will flow over after the actual closing on Friday, when it open on Sunday....... So calculation is done after the 17:00 daily candle is in place on Sunday......

If you go back to my posting earlier about this movement and check it on the AccuCharts you will see how it was done.
The Dove - Forex Trainer
  • #8,316
  • Jun 15, 2008 10:49pm Jun 15, 2008 10:49pm
I never said anything about 1500 pips where do you get that from? Read the post again. You asked why everyone was thinking short. I just answered your question Dove.






Quoting dove_alliance
Laughing - You trying to say that the professionals, as you call them, will let 1500 pips be accumulated.....? I hope they keep it up.......
  • #8,317
  • Jun 15, 2008 10:51pm Jun 15, 2008 10:51pm
Quoting steelhead
I never said anything about 1500 pips where do you get that from? Read the post again. You asked why everyone was thinking short. I just answered your question Dove.
Smiling - apparently you missed it.
The Dove - Forex Trainer
  • #8,318
  • Jun 15, 2008 11:01pm Jun 15, 2008 11:01pm
Quoting dove_alliance
Well, Like I said above: It is the closing of Friday's daily candle going into Sunday that has a lot affect on the calculation.
True, but I would caution reading too much into what appears to be a server misconfiguration on Accucharts' end.

Since Accucharts starts at 15:00 on Sundays, it has 2 extra hours outside of the Sun 17:00 - Fri 17:00 week. Just like certain MT4 brokers who also open early, this causes the server to create an extraneous Sunday daily candle, incorporating just those 2 hours. However, instead of using the Friday close to calculate the change field, Accucharts is using the close of that extra Sunday candle. This is entirely incorrect, and may have just been overlooked by Accucharts' designers. I will get in touch with them tomorrow to address this issue.
  • #8,319
  • Jun 15, 2008 11:04pm Jun 15, 2008 11:04pm
Quoting Trader KGB
This is entirely incorrect, and may have just been overlooked by Accucharts' designers. I will get in touch with them tomorrow to address this issue.
Careful, Trader, you just might end this complicated but working system as we know it
"Luxury is one of the basic needs", (c), Don Corleone
  • #8,320
  • Jun 15, 2008 11:08pm Jun 15, 2008 11:08pm
Quoting Trader KGB
True, but I would caution reading too much into what appears to be a server misconfiguration on Accucharts' end.

Since Accucharts starts at 15:00 on Sundays, it has 2 extra hours outside of the Sun 17:00 - Fri 17:00 week. Just like certain MT4 brokers who also open early, this causes the server to create an extraneous Sunday daily candle, incorporating just those 2 hours. However, instead of using the Friday close to calculate the change field, Accucharts is using the close of that extra Sunday candle. This is entirely incorrect, and may have just been overlooked by Accucharts' designers. I will get in touch with them tomorrow to address this issue.
Smiling - That extra daily candle is there for that purpose to set up the proper use of pivots...... The issue they working on now is getting the right formula for the automatic calculation of pivots on their charts for Sunday...... The way I calculate Sunday's pivots is the way I have always done it and as you notice, it was right on......
The Dove - Forex Trainer
238 traders viewing now