I can't wait anymore for Europe to wake up - I am too sleepy. Closing my short at 107.40. I still expect the price to briefly touch the daily pivot (107.05) or at least mid-pivot (107.23), and then reverse towards 108. Once it breaks through 107.43 ...

USD/JPY Discussion

TheGunSlinger, very nice clarification, I haven't thought of that! Yes, 5 p.m. EST is the correct time for daily quotes.

USD/JPY Discussion

DirtySerb, Yes, if it breaks 107.43 it will continue further, that's why the very tight stop loss! As for the pivots everyone (including the built-in indicators) uses the same formula (High+Low+Close)/3 Discrepancies occur because of different ...

USD/JPY Discussion

As long as the 5-minute candles close below the daily open (107.43) our shorts are safe. I added more at 107.42 for 6-pips scalping. Stop-loss must be very tight now, though

USD/JPY Discussion

Good luck, Schminner, but it might not go that low... Watch the 107.05 pivot

USD/JPY Discussion

Great! Looks like we are on the right track already :-)

USD/JPY Discussion

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How is forex trading taxed in your country?

I am short 107.43, stop loss 107.52, target 107.15 (107.05 - daily pivot minus 10 pips to be safe)

USD/JPY Discussion

The new daily pivot point is @ 107.05, and USD/JPY has a VERY high chance of testing it within 2-3 hours If the market remains slow (it died too early today) we'll be stuck between 107.05 and 107.45 until the European session

USD/JPY Discussion

I found this chart on dailyfx, there is also a related article from 4-2008 about risk trends here: url While there are many good points in that article the authors make a very wrong prediction for the JPY to go towards 100... However, the main ...

USD/JPY Discussion

Regarding the argument between Dove and Bruce, — I must say that a year ago I myself was relying purely on the fundamentals (i.e., logic behind the market moves), candles and visual trends... Dove appeared in this thread in the same manner ...

USD/JPY Discussion

Wow, thanks for the compliment... I see why you say the current price is better for taking profit (closed at 107.42) - the short-term charts have lost momentum. In case it breaks above though 107.6 is the near-term limit

USD/JPY Discussion

The only thing modern Republicans are good at is marketing. They can sell anything to the general public. As for the yesterday speeches I would call them perfectly timed bluffing, especially Paulson hinting at possible intervention. What could they ...

EURUSD

The nearest resistance and a strong one lies at 107.63 (weekly R2), and 107.64 (daily R2). I don't see it break above before the close of NY session. Approach of the 107.6 area would be a good time to take profit on the longs to use the most likely ...

USD/JPY Discussion

106.98 is the next resistance (daily R1) together with 106.96 weekly mid-pivot. I expect a major retrace or a stall before it attempts to break through that

USD/JPY Discussion

Dove, I'm so glad to meet you again and to hear that you are doing fine! Congratulations on your book! Surprised about EUR - have you given up on GBP? :-) Bruce, When I first read Dove's posts in this thread last year I, too, was very sceptical and ...

USD/JPY Discussion

Euro started to correct without touching the weekly pivot (1.9610). This suggests that until the Nonfarm payroll data tomorrow morning the pair will be stuck between that weekly pivot and the new daily pivot (1.5518). Halfway between the pivots is ...

EURUSD

Weekly pivot point @1.5610 should offer very strong resistance. If the price stays here after the nonfarm tomorrow this week's candle will suggest a bullish week ahead.

EURUSD

I added some delicious shorts at 1.55... Turns out this is why the spike happened: Today 08:56am (Tradethenews.com) ECB's Trichet says council had different views; a number of members considered the case for hiking rates - Q&A session - Interest ...

EURUSD

The Sunday gap will most likely close for a brief moment later today. While long entry is risky rght now (unless you already hold a long position in profit). However, 1.9774 (weekly central) - 1.9778 weekly pivot zone is great for the short entries. ...

Cable Update (GBPUSD)