The strategy works when the spread between these levels is between 20 and 40 pips. The best time to play between the daily pivot and central is early in the Asian session. Most of the time the price will consolidate between the two main pivots for ...

USD/JPY Discussion

I used midpoint just to be 100% safe. When central and daily are spread more than 30 pips apart the midpoint provides additional congestion. The USD/JPY was very reluctant to go down early in the daily session, so it was possible that midpoint would ...

USD/JPY Discussion

I am closing my shorts here (107.35) - have to go to bed, ca't waith for 107.28 at this speed :-) Good luck, everyone.

USD/JPY Discussion

The nasty feature of the sideway trends - by the time the range is obvious and confirmed, it is mature enough to break in some direction... However, I anticipate the sideways action to continue until at least the frst week of August

USD/JPY Discussion

Dove, sorry, but I just have to bring this pivot point calculation issue up again... In the weekly pivots version based on Friday closing price I have weekly R1 at 107.41 - and it is exactly the level it has trouble breaking on the way down...

USD/JPY Discussion

Yes, just yesterday I confidently held my EUR and GBP shorts through that sudden spike to the range resistance and closed them in the profir zone today

USD/JPY Discussion

Wide ranging is pretty typical of summer months with the exception of subprime crisis last year. I saw these ranges forming about a month ago, but was afraid to act on them :-) EUR/USD is nicely squeezed between 1.5350 and 1.5850, for example

USD/JPY Discussion

LOL :-) Bush favors strong dollar... It makes as much sense as "rock against drugs", "politicians against corruption" or "bees against honey"...

USD/JPY Discussion

Yen is often slow to react on Japanese news. Wonder if it's insider trading (market makers know the news ahead), Japanese patience or volatility prevention by Japanese Central Bank... I am still short - added more at 107.50

USD/JPY Discussion

yea, that's a lot of machinery

USD/JPY Discussion

LOL. Dove, thank YOU for sharing your knowledge with us last year :-)

USD/JPY Discussion

I am short @ 107.45, take profit at 107.28 - midpoint between the daily and central. Also have a blind long entry at the PP (107.08 + 2pips), with take profit also at midpoint

USD/JPY Discussion

Bristol, the HLC you quoted are for today - this is still an active candle! "The close" will arrive in 35 minutes

USD/JPY Discussion

Bristol, If you select the "+" tool button (top panel, between the arrow and hand tools) and click on any candle it will show you HLC, PP's and the values of any other indicators you might have set up - all for that candle. That's the quickest way ...

USD/JPY Discussion

Longs for the week - very well may be so... But the immediate target in the current downtrend is 1.9662 + 3 pips. Since we are in the ranging mode you will have an opportunity to close any longs as well

Cable Update (GBPUSD)

Going against the trend, eh? :-)

Cable Update (GBPUSD)

Bingo! 1.9662 +3 pips is my next target Adding shorts if retrace to 1.9701 happens

Cable Update (GBPUSD)

The current trend is down, but cable has to clear the strong weekly mid-pivot @1.9701, coinsiding with the daily mid-pivot @1.9703. If broken, the next level is 1.9661/62 (weekly/daily S1)

Cable Update (GBPUSD)

Dove, there are several commonly used formulas (and a bunch of less commonly used ones) the formulas you have in that pivot point calculator are: PP = (Hi+Lo+Cls)/3 R1 = 2*PP-L R2 = PP+(Hi-Lo) R3 = Hi+2*(PP-Lo) The difference with my calculation is ...

USD/JPY Discussion

I know - that is according to Dove's method - I am comparing both

USD/JPY Discussion