USD/JPY Discussion

It did touch the R1 and indicators took me to the top and that is all I got to say....... Except That I took 65 pips at 100 lots........ That is how sure I am with indicators.......

Everyone have a good week-end.....

Did someone say something against your indicators? Are you Bruce? LOL, have a good weekend Dove.

No - not against my indicators but it was mention that indicators period was not good at all...... So I'm just verifying that they are.......

Weekend?? It's midweek...slow down i havent made any pips

I'm finish for the week - Got things to do......

Ok Dove, have a nice week.....It hasnt touched my pivot...anyway i'm not in a trade anyway

Looks like Euro wants to break the pivot...maybe not

You too - have a good week-end and on my charts the R1 is at the 106.58

This pair really moves nice metwen pivots, but i`m a bit puzzled by it`s behavoiur around them. (lack of experiances)

Can someone explain a bit this behaviour around pivot points?

If it just tuches a pivot (S or R), does that mean it`s a great chance, that it will go back to the previus one? I guess that if it breaks through a pivot and a candle closes above it, it means, that it will go to the next one. But which candle, which TM?
Are there any paterns?

wonder what oil will do....

I’m not Bruce, but I thought I would drop in this one time and take a look at reality on taking profit, one pip at a time:

A single pip represents only a fraction of a penny (technically, one 10,000th of any unit of currency), but when millions of dollars of currency are bought or sold, that can mean considerable losses or gains….. Such is life on the Southland's largest foreign exchange desk; Union Bank's trading floor in Los Angeles. These traders trade hundreds of millions in euros, yen and other major foreign currencies each business day. These traders manage the bank's foreign currency positions, but most of the action is driven by the commercial customers-including exporters seeking to repatriate foreign currency profits into dollars, and importers who need to convert dollars into foreign currency to make purchases abroad.

The foreign exchange desk, on the 11th floor of Union Bank's local offices on Figueroa Street, is almost sedate, with traders talking in low tones, whether on headsets or to each other.

Nearly two dozen currency traders sit in a row, facing each other in a long open room that also houses Union Bank traders working in other markets. Some have as many as four computer screens circling their desk.

Every so often, the silence is broken as a trader shouts the name of a currency and an amount to be bought or sold and is answered by another trader who quickly yells "Done!" That's the heart of the system.

The foreign exchange desk is actually composed of two sets of traders: "corporate traders," who make offers to customers to buy or sell foreign currency at specific prices, and "interbank traders," who then cover those positions by buying and selling the currency from other large commercial banks.

Once an interbank trader yells "Done," it is his or her responsibility to make a trade that covers the transaction that the corporate trader has just made with a bank customer.

This is only LA and in New York Banks the factor is 10 times……. In other words…… Traders such as you and I do not have enough money or power to move this market not even 1 pip…..

hi dove do u check ur pm. I pmed u a while ago

Hi Dove,
one question regarding timeframes... do you use any dependencies between the timeframes? Or do you trade each timeframe independent on its own in combination with adjusting target pips / profits ?

A possibility might be for example that trades are only taken on minor timeframes if stochastics / indicators are lined up the right way on H1 / H2.

When doing a H1 / H2 trade... do you use M20/M30 for identification of retracements and exit the trade during the retracement? E.g. trade could be resumed after retracement if H1/H2 are still lined up the correct way and M20/M30 have done the retracement and are waiting for taking off....

Thanks for giving some insight into your trading habits... best regards

dove since you make watch a number of time frames;
1) which time frames must be in sync before you place your trades
2) what time period must indicate retrace before you can enter for it?

make a lot of pips from the up and down today...now longing.....

Maenwhile...

Going long making nice profit on that ascending channel.

wheres dove? price is straddlin' the pivot

Wow, with all the fund data and DOW down 75 points, the JPY does not move much.
They sure do a good job of proping up the dollar don't they. I have a news feed and I bet the article mentiong Bush say "The USA likes a strong dollar" with some other quotes , must of been pushed to my desktop news app more than a dozen time over an hour. (as well as other news snippets to encourage the dollar).
It's a dirty business

The talking heads do it again. Hahahah

These woman on cnbc are like the woman reporting court side in nba, blah blah blah

Wow, I went to see a movie, come back and the DOW is minus 166 points and oil up a few bucks, bad news everywhere, and JPY still stuck between 106.11 and 105.90. That's amazing.

Bristol