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USD/JPY Discussion

  • #10,541
  • Jul 10, 2008 2:20pm Jul 10, 2008 2:20pm
Congratulations, Clouds! 30 is great!
32 here
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,542
  • Jul 10, 2008 2:22pm Jul 10, 2008 2:22pm
Quoting dove_alliance
Clouds - you made it difficult to contact you....... Do me a favor and PM me with at least an email...... Do appreciate.
didnt know that, fixed, now pm should work i thikn
  • #10,543
  • Jul 10, 2008 2:24pm Jul 10, 2008 2:24pm
Quoting dove_alliance
How many went short on the E/J?
" I have no bias"

(Mr. Trichet, 03.07.08)

  • #10,544
  • Jul 10, 2008 2:24pm Jul 10, 2008 2:24pm
Quoting Firstboss
Steelhead, yes, buyers will hold it up, but the band indicator (and other ones) show you the sentiment of the buyers. I know, it's intuitively illogical and hard to believe, but you can't deny the facts. Why indicators and pivot levels work is an interesting macroeconomic or philosophycal discussion during slow market hours. However the question if indicators work has been answered a long time ago.


lol again indicators work im rollin over in my chair. Dove and I have discussed this many times. I like dove we just disagree, but make no mistake about it indicators don't work if you want to truly learn how this market works. Inicators should never be used to enter a trade.
  • #10,545
  • Jul 10, 2008 2:27pm Jul 10, 2008 2:27pm
Certainly, an indicator should never be used to enter a trade. A system of indicators with right parameters that works best for this particular currency pair should be used. Along with your experience with that pair.
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,546
  • Jul 10, 2008 2:28pm Jul 10, 2008 2:28pm
Quoting Firstboss
Steelhead, yes, buyers will hold it up, but the band indicator (and other ones) show you the sentiment of the buyers. I know, it's intuitively illogical and hard to believe, but you can't deny the facts. Why indicators and pivot levels work is an interesting macroeconomic or philosophycal discussion during slow market hours. However the question if indicators work has been answered a long time ago.

By the way, the author of Bollinger band, Dr. Bollinger is a Nobel prize winner for economics.

They do not show you the sentiment of the buyers. Cause the buyers that really move the market are creating those sentiments. They use those silly indicators against you. They know how you trade and they will get you on the wrongside of the trade 9-10 with those silly indicators. They create the sentiment, and they are good at what they do. There job is to take your money.
  • #10,547
  • Jul 10, 2008 2:30pm Jul 10, 2008 2:30pm
Quoting steelhead
They do not show you the sentiment of the buyers. Cause the buyers that really move the market are creating those sentiments. They use those silly indicators against you. They know how you trade and they will get you on the wrongside of the trade 9-10 with those silly indicators. They create the sentiment, and they are good at what they do. There job is to take your money.
Do you consider TL's or charts, indicators? I'm lost without them.
  • #10,548
  • Jul 10, 2008 2:32pm Jul 10, 2008 2:32pm
lets do a test boss. I want to take a position on euro/cad around 1.5900 to 1.5850 what direction do your indicators tell you is the right one in those areas?
  • #10,549
  • Jul 10, 2008 2:34pm Jul 10, 2008 2:34pm
Quoting steelhead
They use those silly indicators against you. They know how you trade and they will get you on the wrongside of the trade 9-10 with those silly indicators.
Steelhead, let's suppose for a minute what you are saying is true.
In that case, you must use the signals from indicators and enter the trades in exactly the opposite direction. So, you are 9/10 on the right side.
This prooves the indicators work - you just have to use them correctly
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,550
  • Jul 10, 2008 2:36pm Jul 10, 2008 2:36pm
Steelhead, I don't have experience with EUR/CAD except a few intuitive scalping trades. Besides, right now the indicators are useless - you have to wait till the start of the Asian session for sufficient liquidity and momentum.
In these slow hours one can only scalp between the main daily pivots
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,551
  • Jul 10, 2008 2:37pm Jul 10, 2008 2:37pm
The only thing I got to say is that no sentiment has ever given me pips...... Indicators and momentum brings me a 100 pips every day....... That is all that matters to me and - - if someone thinks other wise then more power to them.....
The Dove - Forex Trainer
  • #10,552
  • Jul 10, 2008 2:38pm Jul 10, 2008 2:38pm
what worries me about ej , is that it's at almost all time highs, and it's july, and last july it was at all-time highs, and it fell, ''but years before that it was in a good up trend, so i dont know.... and it would be the first /jpy pair to break new highs, besides chf/jpy
  • #10,553
  • Jul 10, 2008 2:39pm Jul 10, 2008 2:39pm
Quoting steelhead
I want to take a position on euro/cad around 1.5900 to 1.5850 what direction do your indicators tell you is the right one in those areas?
i would buy, but cad is a currency that i dont trade, because sometimes cad pairs dont move for days, and i can't make out the usd/cad charts, i see no clear direction, but a big mess
  • #10,554
  • Jul 10, 2008 2:40pm Jul 10, 2008 2:40pm
Quoting Clouds
what worries me about ej , is that it's at almost all time highs, and it's july, and last july it was at all-time highs, and it fell, ''but years before that it was in a good up trend, so i dont know.... and it would be the first /jpy pair to break new highs, besides chf/jpy
EUR as a well-mannered respectable currency was the last to establish the new record - after AUD, NZD, GBP, CHF, CAD... GBP should have naturally shown that kind of class
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,555
  • Jul 10, 2008 2:42pm Jul 10, 2008 2:42pm
Clouds you are right I bought at 1.5878. been in the trade all day looking for 200+ pips stops at entry now see how it does
  • #10,556
  • Jul 10, 2008 2:44pm Jul 10, 2008 2:44pm
going to sell the e/j at 169 to 169.50 will wait and see what the candles are telling me.
  • #10,557
  • Jul 10, 2008 2:45pm Jul 10, 2008 2:45pm
Quoting Clouds
what worries me about ej , is that it's at almost all time highs, and it's july, and last july it was at all-time highs, and it fell, ''but years before that it was in a good up trend, so i dont know.... and it would be the first /jpy pair to break new highs, besides chf/jpy
This pair is still in a good up trend channel on the daily and the weekly is still strong and according to the monthly it is also has a good upside to it....... So, maybe it will continue and if so the U/J will follow.
The Dove - Forex Trainer
  • #10,558
  • Jul 10, 2008 2:48pm Jul 10, 2008 2:48pm
Hmmmm - I wonder where he got that from...... I thought I had already mention it was at its high and getting ready to come back down......
The Dove - Forex Trainer
  • #10,559
  • Jul 10, 2008 2:49pm Jul 10, 2008 2:49pm
i believe it will retrace to 1.0125 after midnight tonight....then i will enter for the second time here....entered the first time at 1.0130 earlier and looking for 0.9980 or so....but will take what
the market is willing to give....

Quoting Firstboss
USD/CAD definitely looks like it's going to parity soon.
I will be shorting off the retrace to the new daily pivot tonight
Scalping with small shorts right now between 1.0099 and 1.0087
  • #10,560
  • Jul 10, 2008 2:50pm Jul 10, 2008 2:50pm
Quoting steelhead
Clouds you are right I bought at 1.5878. been in the trade all day looking for 200+ pips stops at entry now see how it does
That is interesting..... That entry was a week ago and that is all you are making......

In fact, as of now there's not even 100 pips there.....
The Dove - Forex Trainer
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