Pivots are calculated from High, Low, and Close of the previous day and previous week. You can use numerous pivot calculators online, for example, url but they are all based on the following formulas Resistance 3 = High + 2*(Pivot - Low) ...

USD/JPY Discussion

Interesting numbers: — The new daily pivot is at 107.63 - exactly the same as the weekly R2. Together they make both a strong support, and a level worth testing. I expect sideways consolidation between the daily central (107.97) and 107.63 I ...

USD/JPY Discussion

No, Hendrix, I work in Connecticut, USA now. London is among my top three favorite cities, though (together with Moscow and New York)

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I noticed that the greater the spread between the pivots the more reliable market momentum analysis. When the pivots are conjested there is no room to ride the predictable wave to the next level. On the other hand, strongest breakouts usually occur ...

USD/JPY Discussion

Agreed - because of that support and market slowdown I closed my short. However, there is no reliable long entry signal. We are in a slow consolidation with low liquidity right now. As for the further direction we need to wait for 5 p.m. EST to ...

Cable Update (GBPUSD)

On the other hand.... I am short at this daily mid-pivot (1.9473) for 12 pips to 1.9461

Cable Update (GBPUSD)

I closed all of my shorts at 1.5445. At the moment, there are no good signals for either short or long, as we have entered dead market hours. There is a possibility of a bullish trend, as hinted by slow_k on 2-hour chart, but the best strategy is to ...

Cable Update (GBPUSD)

Closed half of my short at 1.9452, will ride the rest to just below 1.9430 (still I expect resistance at 1.9420 to be tested) as current local trend is down, but it's momentum is slow. I expect consolidation after 1.9420 holds

Cable Update (GBPUSD)

Looks like Bernanke wasn't in the mood to enter into any trades, so no shocking statements :-)

USD/JPY Discussion

That's highly probable, but that we'll have to judge once we see the market dynamics at that level. Certainly, all the longs must be closed on approach. In case of a spike down 107.63 is a great level to go long

USD/JPY Discussion

Next bluff by Bernanke is coming in 20 minutes. Expect spikes both ways. Dollar-positive trend is in effect now: GBP/USD - down, next target 1.9420 (daily S2). The pair has just tested the previously broken 1.9473 mid-pivot, and nothing holds it ...

Cable Update (GBPUSD)

Next bluff by Bernanke is coming in half an hour. Expect spikes both ways. Dollar-positive trends are in effect now: USD/JPY up, next target 108.30 (daily R2), GBP/USD - down, next target 1.9420 (daily S2)

USD/JPY Discussion

TragerKGB and Rabid, I really appreciate your comments! That is good news to me :-)

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I am long @ 107.85, first target - 107.97 (daily mid-pivot), second target - 108.30 (daily R2) minus 5 pips for safety

USD/JPY Discussion

Dove, great to see this thread vivid again - just like the old times :-) Too bad I logged in just now and missed all the action. Speaking of patience, I am long now (107.20), will add if it touches the pivot (I know, I know most likely it will). But ...

USD/JPY Discussion

The new daily central will be below the daily pivot, and this is not a very bullish setup. Looks like it will range for a long time between 106.5 and 108 before continuing above. I am scalping longs from 106.95, half profit taking at the pivot ...

USD/JPY Discussion

Not sure about Hungary, but in Russia you invest money in your broker account, and you profit is a net result at the end of the year - i.e. net total increase in your balance. If the brokerage is in a foreign country the profit becomes profit as ...

How is forex trading taxed in your country?

Impressive result, Dove! So, is EUR/USD your favorite pair now? I haven't spent enough effort on it, but from what I have observed so far EUR shows less respect for the pivots and more for the fib levels, doesn't it?

USD/JPY Discussion

TraderKGB and Rabbid, thank you for the clarification! However, it's not as fair as it looks. If you don't have capital gains and don't play with any deductions you fill out form 1040-EZ and use $8'750 standard deduction (single) or $17'500 ...

How is forex trading taxed in your country?

It's not just taking place - it's accelerating! China, Russia, India are all constantly increasing oil consumption. In Russia, for example, if you want to buy a new car priced under $30'000 you will have to register with the dealer and wait between ...

USD/JPY Discussion