USD/JPY Discussion | Page 430 | 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

  • #8,581
  • Jun 18, 2008 12:19pm Jun 18, 2008 12:19pm
Quoting TheDirtySerb
Yeah, I know you guys are right. I'm not great at holding my positions very long, especially when it is a profitable one. Call it lack of patience or experience. Its either that or Dove's words kept ringing in my ears "WE'RE IN AN UPTREND". GL to all.
Whilst it is always useful to listen to what others think (why else would we be on this board), sometimes it is best to go with your instincts. I've kicked myself more times for listening to what others say on boards than for not listening. Remember, when everyone is screaming UP, you can be sure it is going to go down...the shoe shine boy effect.

edit: at this point in time it looks like 107.90 is broken...
  • #8,582
  • Jun 18, 2008 12:34pm Jun 18, 2008 12:34pm
Quoting WizardPip
Wow dove, i really keep misunderstanding what the trend is about. I heard that traders have a rule of thumb for the trend, dependieng on the timeframe they trade. For instance, if i trade on 15, 30 min, the longer timeframe i have to look to see the trend is 4hr, because daily, weekly, and so on, are so far away, that you just don't care about it. But you have knowledge and experience. What can you tell about that... is that true, or using longer timeframes to see the trend (daily, weekly) you can always close a "looser" trade on profit?

Thanks for sharing

Best regards to all and happy trading
The daily is what determines the trend itself.... What is making it tough right now is a support/resistance at the 107.94 and it is not a big one it is enough to keep it bouncing in about a 50 - 60 pip channel...... Also the trend is in the middle of its channel making it difficult of going to the top or the bottom of the channel...... In other words, what is happening right now with the yen, is scalping those pips that are in the channel and this is where the pivots comes in use..... During Asia session it was in consolidation moving sideways in a channel of the BB's on the 30 chart.This is where the BB's come in use...... Once the candle had broke away on a closing with the band then that is the direction it will travel..... At 01:00 ET this morning the candle broke the band going down but retrace back inside the band and closed...... At 01:30 the candle moved up and stayed outside the band and closed..... The next candle will retrace and after the retrace I was in the trade for the R1......
The Dove - Forex Trainer
  • #8,583
  • Jun 18, 2008 12:41pm Jun 18, 2008 12:41pm
The M2 was hit and I took profit.......
The Dove - Forex Trainer
  • #8,584
  • Jun 18, 2008 1:02pm Jun 18, 2008 1:02pm
For those who are wondering what is the M2: it is the Mid Pivot between the PP and S1 at 50% and is setting on 107.75
The Dove - Forex Trainer
  • #8,585
  • Jun 18, 2008 1:07pm Jun 18, 2008 1:07pm
Quoting dove_alliance
The daily is what determines the trend itself.... What is making it tough right now is a support/resistance at the 107.94 and it is not a big one it is enough to keep it bouncing in about a 50 - 60 pip channel...... Also the trend is in the middle of its channel making it difficult of going to the top or the bottom of the channel...... In other words, what is happening right now with the yen, is scalping those pips that are in the channel and this is where the pivots comes in use..... During Asia session it was in consolidation moving sideways in a channel of the BB's on the 30 chart.This is where the BB's come in use...... Once the candle had broke away on a closing with the band then that is the direction it will travel..... At 01:00 ET this morning the candle broke the band going down but retrace back inside the band and closed...... At 01:30 the candle moved up and stayed outside the band and closed..... The next candle will retrace and after the retrace I was in the trade for the R1......
EURUSD daily charts are a huge mess right now.. no trend. ranging hard. what can you do with it?
  • #8,586
  • Jun 18, 2008 1:08pm Jun 18, 2008 1:08pm
Quoting dove_alliance
The M2 was hit and I took profit.......
me too.. I have ridden it from R1 to MS1
  • #8,587
  • Jun 18, 2008 1:17pm Jun 18, 2008 1:17pm
Quoting emda
EURUSD daily charts are a huge mess right now.. no trend. ranging hard. what can you do with it?
Nothing really...... Not right now anyway...... At 10:00 ET this morning I got in long at the M2 when the slow_k crossed and took 20 but that is it so far on that pair.
The Dove - Forex Trainer
  • #8,588
  • Jun 18, 2008 1:40pm Jun 18, 2008 1:40pm
Are there any indications that there is a trend reversal ???
  • #8,589
  • Jun 18, 2008 1:52pm Jun 18, 2008 1:52pm
Quoting Schminner
Are there any indications that there is a trend reversal ???
Not yet......
The Dove - Forex Trainer
  • #8,590
  • Jun 18, 2008 2:23pm Jun 18, 2008 2:23pm
Quoting dove_alliance
For those who are wondering what is the M2: it is the Mid Pivot between the PP and S1 at 50% and is setting on 107.75
Ok, one question. How do you guys know, when to take S1 as a target, or mid pivot..?
  • #8,591
  • Jun 18, 2008 2:29pm Jun 18, 2008 2:29pm
Quoting judokamak
Ok, one question. How do you guys know, when to take S1 as a target, or mid pivot..?
Depending on the time of day and also the time of the session. The reason I took it as for as the mid today is because the session had ended at 12:00 with London going out and the reason for the R1 this morning is because the session was still open.
The Dove - Forex Trainer
  • #8,592
  • Jun 18, 2008 2:39pm Jun 18, 2008 2:39pm
I see, it`s sounds quite logical, thanks.
  • #8,593
  • Jun 18, 2008 3:23pm Jun 18, 2008 3:23pm
Daily UY Chart. it may not get too far below 107.60 before it starts upward again, but if price blows past that area it is possible that we could see 107 by Friday before the trend continues back on its upswing that started back in March.
_
Attached Image (click to enlarge)
Click to Enlarge Name: uy-daily.jpg Size: 99 KB
  • #8,594
  • Jun 18, 2008 6:09pm Jun 18, 2008 6:09pm
Hope it's help.

KG
Attached Image (click to enlarge)
Click to Enlarge Name: uj1.gif Size: 27 KB
  • #8,595
  • Jun 18, 2008 6:21pm Jun 18, 2008 6:21pm
If that happens can I sell you more u/j. Trend is down my friend not up





Quoting tullid
Daily UY Chart. it may not get too far below 107.60 before it starts upward again, but if price blows past that area it is possible that we could see 107 by Friday before the trend continues back on its upswing that started back in March.
_
  • #8,596
  • Jun 18, 2008 7:33pm Jun 18, 2008 7:33pm
Quoting steelhead
If that happens can I sell you more u/j. Trend is down my friend not up
Perhaps this is the beginning of a downtrend ....
  • #8,597
  • Jun 18, 2008 7:35pm Jun 18, 2008 7:35pm
Quoting Schminner
Perhaps this is the beginning of a downtrend ....
id say so, its really looking like a downtrend too hopefully continues further down which i think it should do
  • #8,598
  • Jun 18, 2008 8:00pm Jun 18, 2008 8:00pm
let the turn begin
FUBAR...
  • #8,599
  • Jun 18, 2008 8:12pm Jun 18, 2008 8:12pm
Quoting ak4x
let the turn begin
Amen ...
  • #8,600
  • Jun 18, 2008 9:28pm Jun 18, 2008 9:28pm
Quoting Schminner
Amen ...

30 traders viewing now