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USD/JPY Discussion

  • #10,481
  • Jul 10, 2008 4:54am Jul 10, 2008 4:54am
Quoting bksujal
dove do you trade with fibs? Do you use any particular indicators ?
I don't trade Fibos except what I have on the 20 chart and I use that mostly for retraces and entries off the retraces.....
The Dove - Forex Trainer
  • #10,482
  • Jul 10, 2008 4:55am Jul 10, 2008 4:55am
Quoting dove_alliance
That is one on the main problems with traders and that is taking profit too early and not letting it ride....... These pivots will help you in that area.....
The UJ Bull can't overtake 107.3 region!!

sonic
  • #10,483
  • Edited 5:09am Jul 10, 2008 4:59am | Edited 5:09am
If I had not been in the trade already I would of used the 20 fibo and got in at the 107.05 off the retrace and is basically how I use it...... Now in time, when the spread will get bigger, then there will be more value to this system.....
The Dove - Forex Trainer
  • #10,484
  • Jul 10, 2008 5:00am Jul 10, 2008 5:00am
Quoting sonicdeejay
The UJ Bull can't overtake 107.3 region!!

sonic
Smiling - it already hit the R1 and profit was taken........
The Dove - Forex Trainer
  • #10,485
  • Jul 10, 2008 5:08am Jul 10, 2008 5:08am
Hello Brian - I always feel you out there........ in the background and taking it all in.......smiling.......
The Dove - Forex Trainer
  • #10,486
  • Jul 10, 2008 5:30am Jul 10, 2008 5:30am
Quoting dove_alliance
That is one on the main problems with traders and that is taking profit too early and not letting it ride....... These pivots will help you in that area.....

Well, for me the problem is, that i get out to late, not to soon...some ppl
would call this greed
  • #10,487
  • Jul 10, 2008 5:37am Jul 10, 2008 5:37am
I wake up to find the JPY 45 pips up.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,488
  • Jul 10, 2008 5:52am Jul 10, 2008 5:52am
Quoting dove_alliance
Once the momentum is in play the resistance or support will only last as long as the opposition will continue and that is usually with very little effort and not very long all because the momentum is consistence and that is what keeps me in on a trade......
thanks for the reply...... so how do you guage the momentum of the market?
  • #10,489
  • Jul 10, 2008 6:38am Jul 10, 2008 6:38am
next stop to 107.5..


http://img244.imageshack.us/img244/8...0072008vx7.gif

enjoy.
  • #10,490
  • Jul 10, 2008 7:12am Jul 10, 2008 7:12am
Iran is still test lunching more of their rockets....for the second day..in a row....it would be very interesting to see how the dollar will react to this today....
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #10,491
  • Jul 10, 2008 9:23am Jul 10, 2008 9:23am
just broken the 38.2% level on the 15M chart it might go even lower than yesterday's low lets see.
  • #10,492
  • Jul 10, 2008 9:54am Jul 10, 2008 9:54am
My bold prediction: we're heading right back up to 107.36 then pull back and consolidate between 107.00-107.20 for awhile.

My last "bold" prediction post was as wrong as wrong could be! Which means it will probably shoot to the moon or drop the floor any moment!

I'm working with a demo acct trying to learn everything I can from Dove and the rest of you. Thanks for all the instructions!!!!!
  • #10,493
  • Jul 10, 2008 9:59am Jul 10, 2008 9:59am
For now, the trend is down
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,494
  • Jul 10, 2008 11:20am Jul 10, 2008 11:20am
I am long @ 107.05 - looks like it broke the daily pivot. My target - midpoint at 107.19 minus 2 pips. If momentum is strong will close before the R1 @ 107.36
Should it go below 107 I am holding my long and add more @106.80 to close at break even on retrace to the daily PP
EUR is retracing down, and that helps USD/JPY at the moment
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,495
  • Jul 10, 2008 12:12pm Jul 10, 2008 12:12pm
Quoting Firstboss
I am long @ 107.05 - looks like it broke the daily pivot. My target - midpoint at 107.19 minus 2 pips. If momentum is strong will close before the R1 @ 107.36
Should it go below 107 I am holding my long and add more @106.80 to close at break even on retrace to the daily PP
EUR is retracing down, and that helps USD/JPY at the moment
As for myself - and this is a maybe ....... I'm staying in for the R1......
The Dove - Forex Trainer
  • #10,496
  • Jul 10, 2008 12:14pm Jul 10, 2008 12:14pm
Smiling - first its got get pass the 20 minute 50% fibo.
The Dove - Forex Trainer
  • #10,497
  • Jul 10, 2008 12:22pm Jul 10, 2008 12:22pm
EJ is fun watch. Testing 169
  • #10,498
  • Edited 12:30pm Jul 10, 2008 12:28pm | Edited 12:30pm
Quoting naminori
ak4x, On my daily chart, 200SMA is located way above your 200SMA. How did you plot the 200SMA on your chart? As you can see, the 200SMA on my chart has been a critical resistance for the past weeks.

Hmmn. Just got up and saw this. That's a very good question, and a very big difference, but I don't know the answer. I can tell you it's the default settings for IBFX MT4 platform, set to the CLOSE and calulated off the SMA. I dinked around with the other 4 settings and none of them gave close to your, altho the EMA did jack it up to 107.04. I have a current value of 106.18 with sma.

I am going to guess there may be a difference between IBFX daily close at 0 hrs GMT and yours maybe...??

Also, I should add the MT4 MA's are not a priority indicator for me. I mostly look at them from time to time to help see the terrain ahead, and remember they are very important for other folks strategies, and I should not want to be ignorant of that...

I think Islander knows more about MT4 stuff than I do, or someone else here may be able to clear this up. I would like to know the answer too.

I chart almost exclusively off accucharts, but order off the Ibfx platform. I do like their wonderfully quick and easy charts, and I do use them for quick "what if" and "on the run" type stuff. Quick to draw, and quick to delete across all TF's...

PS. Good morning all!!
FUBAR...
  • #10,499
  • Edited 12:44pm Jul 10, 2008 12:32pm | Edited 12:44pm
Quoting dove_alliance
Smiling - first its got get pass the 20 minute 50% fibo.
Dove ,

You talking about U/J?
Also, the E/J, 20M chart looks like as soon as the MDI/PDI cross, it will be ready for a downturn. Also the Slow_Stoch has been over the 80% line and only dipped and returned to above the line. Does that indicate an overbought status? It, If the MDI/PDI cooporate, and it turns down, should be an entry point?
Do you agree?
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,500
  • Jul 10, 2008 12:37pm Jul 10, 2008 12:37pm
Morning huh----- It's afternoon here so you must be out in the west somewhere....... But anyway - Good morning.
The Dove - Forex Trainer
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