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USD/JPY Discussion

  • #9,541
  • Jun 30, 2008 5:06pm Jun 30, 2008 5:06pm
Quoting bristolxyz
Forgive me in advance for hammering this subject again, but why is it that there is so much difference sometimes in what a broker is reporting?

What gives, should'nt it be the same for all?
Bristol
Each broker determines not only it's own prices but also when it closes out the daily candle. Some of this info will be very close (like your data) and some will be very different. Many brokers close their daily candle out at 0hrs gmt, around 3 hrs from now. If there is a lot of price movement, you'll get radically different pivot values from the later close. I've seen some people reporting really different close times from overseas (from US) based brokers, which really changes things up. That is why I included the daily close info...

Anybody that has more than one price feed can verify this price diffeence. I'm referring mainly to bucketshop type brokers. I had from 10-15 pips difference between my accucharts feed and my ibfx broker on the Sunday open on certain pairs.

As to "shouldn't they all be the same..." why would they? There isn't a central clearing one bank/one price source out there. I know there are other folks that can explain that part way better than I, so I'll hope they do so...
FUBAR...
  • #9,542
  • Jun 30, 2008 5:11pm Jun 30, 2008 5:11pm
I had someone asked what I think will happen during this session......

For the last 7 hours it has been in consolidation..... Right now there is a channel with the lower band at 105.14 and the upper band at the 106.63 and as I see it, this will be the high and low for next 24 hours...... I also see a breakout on the 2 hour chart going north...... My stance is which ever pivot will be broken first...... the central or the daily...... Is the way I will travel.......
The Dove - Forex Trainer
  • #9,543
  • Edited 5:26pm Jun 30, 2008 5:15pm | Edited 5:26pm
Quoting bristolxyz
Here is what I see at the end of the day (in FX ACCUCHARTS)
Does that look like it should?
Once agian, sorry to beat this subject to death. Regards, Bristol
no worries, and yes that looks right. if it helps, you may want to refer to a previous post I did on this in setting the acccucharts pivot tool up. the principle is the same for daily or sunday pivots. you want to make sure you have the accucharts time setting set to either GMT, LOCAL (your actual PC time), or Custom, and make the necessay adjustments on your pivot calculator to show "start" at 2100hrs gmt /1700hrs est. yours looks like it's set to 5pm est, which is what you want.

see http://www.forexfactory.com/showpost...postcount=8300
FUBAR...
  • #9,544
  • Jun 30, 2008 5:20pm Jun 30, 2008 5:20pm
We also have a new monthly pivots that opened today at 17:00 ET and the Pivot Point is 4 pips above the central at 106.24.......
The Dove - Forex Trainer
  • #9,545
  • Jun 30, 2008 6:09pm Jun 30, 2008 6:09pm
Quoting ak4x
no worries, and yes that looks right. if it helps, you may want to refer to a previous post I did on this in setting the acccucharts pivot tool up. the principle is the same for daily or sunday pivots. you want to make sure you have the accucharts time setting set to either GMT, LOCAL (your actual PC time), or Custom, and make the necessay adjustments on your pivot calculator to show "start" at 2100hrs gmt /1700hrs est. yours looks like it's set to 5pm est, which is what you want.

see http://www.forexfactory.com/showpost...postcount=8300

Thanks, that helps a great deal.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #9,546
  • Edited 6:25pm Jun 30, 2008 6:11pm | Edited 6:25pm
Hi Dove,
just for better understanding... today [EDIT: yesterday] Daily and Weekly S1 have been broken. Does this have any meaning , e.g. that price will fulfill its mission to reach Daily / Weekly S2 ?

Sorry if I misinterpreted something here...
  • #9,547
  • Jun 30, 2008 6:16pm Jun 30, 2008 6:16pm
Could this morning star be telling of our new direction for at least a few days? I'm betting on it, but a break south of this will be quite telling as well.
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There's always money in the banana stand.
  • #9,548
  • Jun 30, 2008 6:26pm Jun 30, 2008 6:26pm
Quoting ernesto
Hi Dove,
just for better understanding... today Daily and Weekly S1 has been broken. Does this have any meaning , e.g. that price will fulfill its mission to reach Daily / Weekly S2 ?

Sorry if I misinterpreted something here...
No - it does not mean that...... Each day has it's own pivots and they are calculated at 17:00 ET world wide...... Your weekly candle works precisely as the daily candle, or any other timeframe for that matter.... The difference is longer term..... On each day pivots we are looking at a new challenge of the R1 and the S1. The weekly is already set and what we are looking at as for the Weekly Pivot Point, in a longer term, is the price movement off of the Pivot Point. On your daily Pivots you will determine the movement off the Pivot Point to either the R1 or the S1.... and this is done daily.

I hope that make sense.....
The Dove - Forex Trainer
  • #9,549
  • Jun 30, 2008 6:33pm Jun 30, 2008 6:33pm
Quoting LizardGizzard
Could this morning star be telling of our new direction for at least a few days? I'm betting on it, but a break south of this will be quite telling as well.
Another way to look at this. It looks like a reversal but it is just below TL resistance.

Retesting the broken trendline?

The blue line is the 200 day MA
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  • #9,550
  • Jun 30, 2008 6:34pm Jun 30, 2008 6:34pm
Quoting pipmac
Another way to look at this. It looks like a reversal but it is just below TL resistance.

Retesting the broken trendline?

The blue line is the 200 day MA

COuld be but trendlines are somewhat malleable. Nobody knows. Gotta wait for the markets to tell us where they're going and ride the waves.
There's always money in the banana stand.
  • #9,551
  • Jun 30, 2008 6:40pm Jun 30, 2008 6:40pm
Quoting LizardGizzard
COuld be but trendlines are somewhat malleable. Nobody knows. Gotta wait for the markets to tell us where they're going and ride the waves.
that's very true...It's likely that it will only serve as temporary resistance....

I'm not big on TL's but i have to look at all possibilities.

That daily hammer seems like it's in the middle of nowhere.

EDIT: Also notice all the moving average resistance on the daily chart....
The moving averages include the 200, 20, 13
  • #9,552
  • Jun 30, 2008 6:45pm Jun 30, 2008 6:45pm
Quoting pipmac
that's very true...It's likely that it will only serve as temporary resistance....

I'm not big on TL's but i have to look at all possibilities.

That daily hammer seems like it's in the middle of nowhere.

EDIT: Also notice all the moving average resistance on the daily chart....
The moving averages include the 200, 20, 13
Smiling..................................
The Dove - Forex Trainer
  • #9,553
  • Jun 30, 2008 6:47pm Jun 30, 2008 6:47pm
Quoting pipmac
that's very true...It's likely that it will only serve as temporary resistance....

I'm not big on TL's but i have to look at all possibilities.

That daily hammer seems like it's in the middle of nowhere.

EDIT: Also notice all the moving average resistance on the daily chart....
The moving averages include the 200, 20, 13
Well, in my view, the hammer is at the top of recent support, but we'll see how she plays out. I'm also looking at the divergence and price action of the other markets, which leads me to believe in dollar strength for the nearterm. But everyone has their own interpretation for sure.

-Liz
There's always money in the banana stand.
  • #9,554
  • Jun 30, 2008 6:53pm Jun 30, 2008 6:53pm
Tankan came in good... More carry unwinds to come tonight.
  • #9,555
  • Jun 30, 2008 6:59pm Jun 30, 2008 6:59pm
The Tankan has given the market a positive surprise as I hinted this on this thread yesterday. This often happens when everybody starts talking about the same thing.

http://www.forexfactory.com/showpost...postcount=9450

Now get ready for the coming big events including the ECB rate decisions, etc.
  • #9,556
  • Jun 30, 2008 7:07pm Jun 30, 2008 7:07pm
Hi guys !!

Looks like the bears got tangled by the bunch of support barriers at 105.60.

The area was pierced but not broken, and by the looks of the long wick of the daily candle I think price just don't belong there.

Well...I'm still with Dove....TREND IS UP ! Even if short term this pair may consolidate around this levels.

Good trade and God bless us all !!!!!!!!!!!!
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For he that would be deceived, let him.
  • #9,557
  • Jun 30, 2008 7:19pm Jun 30, 2008 7:19pm
Quoting pipmac
I'm not big on TL's but i have to look at all possibilities.

That daily hammer seems like it's in the middle of nowhere.
not quite "nowhere"... maybe this will help

methinks nowhere to go but up for now., at whatever speed we get there...
Attached Image
FUBAR...
  • #9,558
  • Jun 30, 2008 7:28pm Jun 30, 2008 7:28pm
Through all this stuff one thing is for sure and that is I'm long at the 02 and here we go.
The Dove - Forex Trainer
  • #9,559
  • Jun 30, 2008 7:39pm Jun 30, 2008 7:39pm
Dove,

I still show the (on 30 Minute Chart) Slow Stoch crossing the High Base (going down).
Bollinger bands show the middle BB lined up with the candles.

(Piviot 106.19 (almost there).

The 1HR chart shows the BBands coming together, but for a breakout and rise above 106.19 don't the candles have to cross and follow the upper BBand?

Maybe I'm confused.(I'm sure I am)
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #9,560
  • Jun 30, 2008 7:43pm Jun 30, 2008 7:43pm
Quoting bristolxyz
Dove,

I still show the (on 30 Minute Chart) Slow Stoch crossing the High Base (going down).
Bollinger bands show the middle BB lined up with the candles.

(Piviot 106.19 (almost there).

The 1HR chart shows the BBands coming together, but for a breakout and rise above 106.19 don't the candles have to cross and follow the upper BBand?

Maybe I'm confused.(I'm sure I am)
You also have to look at momentum....... Besides, I'm in the scalping mode right now going after 18 - 20 pips...... I still need either the daily or the central busted to get in for the longer term.
The Dove - Forex Trainer
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