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USD/JPY Discussion

  • #8,901
  • Jun 24, 2008 2:57pm Jun 24, 2008 2:57pm
It's below 107.87 a major support which now becomes resistance. So i see it short for now.
  • #8,902
  • Jun 24, 2008 2:59pm Jun 24, 2008 2:59pm
Quoting dwildes
I just don't see how after 13-14 hours of being down the 2hr-4hr charts can still show 'up'
They had to at some point change, and then change back
2 factors are involved: one - how many pips retraced and the secondly - the placement of the BB.......
The Dove - Forex Trainer
  • #8,903
  • Jun 24, 2008 3:01pm Jun 24, 2008 3:01pm
Quoting ferndog
It's below 107.87 a major support which now becomes resistance. So i see it short for now.
I'm still trying to figure out how you came up with 107.87 as a major support..... smiling.
The Dove - Forex Trainer
  • #8,904
  • Jun 24, 2008 3:02pm Jun 24, 2008 3:02pm
The only support/resistance in that are right now is the central pivot at the 107.83 and that changes at 17:00 ET.
The Dove - Forex Trainer
  • #8,905
  • Jun 24, 2008 3:06pm Jun 24, 2008 3:06pm
Also in 3and half hours we have bad news for JPY trade balance >=)

Peace
  • #8,906
  • Jun 24, 2008 3:07pm Jun 24, 2008 3:07pm
Hello dwides, i don't know what you are talking about....there was bad (US)news release, which drove the dollar down temporary...it has retraced to the lower 107 and now is heading back to were it was prior to the bad news release....i to benefited with this pullback....remember i maybe alittle (U.S.) bullish with this pair but i trust and use these indicators...and if it does remain down...great....i hope to grab a few while it is retreating...but the big picture to me is still up....but thanks for asking....remember first what i said I am a scalper...and yes i hedge to protect my trade trying never to close a bad trade...we are in a narrow pattern currently and i love this area because i can pick those pips off while the pair remains in this narrow channel...cheers!!

Quoting dwildes
Looks like the screen was wrong.
How come you guys don't post your plans when things don't go your way?
  • #8,907
  • Jun 24, 2008 3:09pm Jun 24, 2008 3:09pm
Quoting Coconut
Also in 3and half hours we have bad news for JPY trade balance >=)

Peace
That new isn't until 19:50 ET this evening....... It's been negative for the last 4 months and I really don't foresee a hard impact on it.
The Dove - Forex Trainer
  • #8,908
  • Jun 24, 2008 3:14pm Jun 24, 2008 3:14pm
Quoting Mrpipmaster
Hello dwides, i don't know what you are talking about....there was bad (US)news release, which drove the dollar down temporary...it has retraced to the lower 107 and now is heading back to were it was prior to the bad news release....i to benefited with this pullback....remember i maybe alittle (U.S.) bullish with this pair but i trust and use these indicators...and if it does remain down...great....i hope to grab a few while it is retreating...but the big picture to me is still up....but thanks for asking....remember first what i said I am a scalper...and yes i hedge to protect my trade trying never to close a bad trade...we are in a narrow pattern currently and i love this area because i can pick those pips off while the pair remains in this narrow channel...cheers!!
You'd said the screen was showing you up to 108.50 and/or R2. I was asking why you guys don't really address issues like during London and US open when the price consistently went down.

For example: price hit R1, fell below weekly pivot - we should be going down to S1, etc...
  • #8,909
  • Jun 24, 2008 3:17pm Jun 24, 2008 3:17pm
the news is just a plus it will raise before it...

Its already rising.

peace
  • #8,910
  • Jun 24, 2008 3:18pm Jun 24, 2008 3:18pm
Quoting dwildes
You'd said the screen was showing you up to 108.50 and/or R2. I was asking why you guys don't really address issues like during London and US open when the price consistently went down.

For example: price hit R1, fell below weekly pivot - we should be going down to S1, etc...
Dwildes - during that announcement you had two major issues to deal with...... One was the pivot point and also the Bollinger Band..... Then you also had the trend up........ With those factors in place it was going nowhere but back into the trend.
The Dove - Forex Trainer
  • #8,911
  • Jun 24, 2008 3:20pm Jun 24, 2008 3:20pm
Quoting dove_alliance
Dwildes - during that announcement you had two major issues to deal with...... One was the pivot point and also the Bollinger Band..... Then you also had the trend up........ With those factors in place it was going nowhere but back into the trend.
So you just ignored the drop until it started to come back up?
  • #8,912
  • Jun 24, 2008 3:23pm Jun 24, 2008 3:23pm
Oh Yea, one other thing....... It came 1 pip short of hitting the R1....... And if you don't want to accept the fact that the 1 pip can make a difference then do some major studying on pivots and you will see what I mean.
The Dove - Forex Trainer
  • #8,913
  • Jun 24, 2008 3:24pm Jun 24, 2008 3:24pm
First i wasn't here at London open and US open....i don't trade everyday...but if i were here i would have expressed which way i believe the market would be heading....but Dove is here most of the time....i have a family of 10 here and they keep me moving fast all the time....but if i am up during London open i will express my intentions...have a great day....

Quoting dwildes
You'd said the screen was showing you up to 108.50 and/or R2. I was asking why you guys don't really address issues like during London and US open when the price consistently went down.

For example: price hit R1, fell below weekly pivot - we should be going down to S1, etc...
  • #8,914
  • Jun 24, 2008 3:27pm Jun 24, 2008 3:27pm
Quoting Mrpipmaster
First i wasn't here at London open and US open....i don't trade everyday...but if i were here i would have expressed which way i believe the market would be heading....but Dove is here most of the time....i have a family of 10 here and they keep me moving fast all the time....but if i am up during London open i will express my intentions...have a great day....
WOW house of 10! Thought my house of 5 was loud! *hahah*

What it boils down to is - I was just trying to figure out a little on the way you guys think and plan your trades, and when market conditions change or go against your plans
  • #8,915
  • Jun 24, 2008 3:27pm Jun 24, 2008 3:27pm
Quoting dwildes
So you just ignored the drop until it started to come back up?
I believe I have said it a few times....... The trend is my friend.......
The Dove - Forex Trainer
  • #8,916
  • Jun 24, 2008 3:29pm Jun 24, 2008 3:29pm
Hey Dana that was pretty close there my friend.....lets just say we hit the R1 ...had a good pullback and now we will see if we can once again get back above the 108 toward the 108.50.....if not a scalping i will go....

Quoting dove_alliance
Oh Yea, one other thing....... It came 1 pip short of hitting the R1....... And if you don't want to accept the fact that the 1 pip can make a difference then do some major studying on pivots and you will see what I mean.
  • #8,917
  • Jun 24, 2008 3:30pm Jun 24, 2008 3:30pm
Understand my friend....i will be looking for you here...hope to see you on later during the asian market...cheers....

Quoting dwildes
WOW house of 10! Thought my house of 5 was loud! *hahah*

What it boils down to is - I was just trying to figure out a little on the way you guys think and plan your trades, and when market conditions change or go against your plans
  • #8,918
  • Jun 24, 2008 3:31pm Jun 24, 2008 3:31pm
Quoting dove_alliance
I believe I have said it a few times....... The trend is my friend.......
Thanks for clearing it up

Trend is relative. For guys on a 30M chart, the trend was down for several hours. Maybe on the H4 or D1 it was up.
  • #8,919
  • Jun 24, 2008 3:32pm Jun 24, 2008 3:32pm
Quoting Mrpipmaster
Understand my friend....i will be looking for you here...hope to see you on later during the asian market...cheers....
Sounds good!
I'm usually on here until 1am EST - every once in a while later. Last night I was here at 3:30 to check the London activity which not a whole lot.
  • #8,920
  • Jun 24, 2008 3:36pm Jun 24, 2008 3:36pm
Quoting dwildes
Thanks for clearing it up

Trend is relative. For guys on a 30M chart, the trend was down for several hours. Maybe on the H4 or D1 it was up.
There is also one other pair I watch very closely and that is the EUR/USD and the reason because is the USD/JPY runs 180 degrees opposite......
The Dove - Forex Trainer
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