waiting for big FALL ...mate ??
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DislikedWithout the u/j above 115, any upward thrust of g/j will be muted. I think any upward movement should be happening now or very soon but it seems the dow can't get in the green. We are most likely to see profit taking this afternoon and close the dow in the red and see g/j drop a bit.
This hourly candle will most likely be a doji, so I'd expect us to close lower today, but if there are fixes and such today this thing is going to jerk around, but when the dust settles I'll probably still be sitting on my short in green pips.Ignored
DislikedBy referencing to US treasuries data. This pair should not go higher. Last nite Japanese treasuries was very weak that's why this pair did a roundtrip. I was hesitant to short last nite before bed around 2 am EDT and would like to go long instead but didn't do that as well, afraid to have unpleasant sleepIgnored
DislikedBy the way, I went short @234.26. Please don't ask me why .. it's a mixture of many things http://www.forexfactory.com/images/icons/icon10.gif ( i.e: Resistance at 234.5ish, weak US treasuries .. bla bla )Ignored
DislikedAllright, ya'll. I'm going to share an indicator with you that I have had on my charts for about 6 months. It was actually designed as an 'exit indicator' for the 1H chart exclusively. I have highlighted that so that people don't come back later and say, "It didn't line up on the 15M or 4H charts". Here is what I have recently discovered about it. It allows you to find the Daily Pivot at any particular moment you want to know what it is without having to figure out if it's still London time or if NY Daily pivot has now kicked in or whatever. It basically operates as a 280 pip channel. It's original intent is to show that when the 1H candle closes above the upper blue line it is due for a retracement or reversal (time to exit). The same goes for when the 1H closes beneath the lower red line (and it is still an effective indicator for that purpose). In that sense it is simlar to Bolinger Bands, except that these bands stay consistent, they don't squeeze like BB do. So, where does the Daily Pivot fit into all of this? Whatever candle you are presently on, move your cursor to the upper blue line and see what price is indicated on it. Then move it down, on the same candle, to the lower red line and see what that price is. Subtract the lower from the upper and you have the middle of the 'channel', which I have found to be almost dead on with the Daily Pivots people constantly quote on this thread. The channel is almost always 280 pips but I have seen it at 260 and even 300. So basically, you're adding or subtracting 140 pips, depending on which line you're doing your figuring from. Obviously, for the perfectionists, this will not line up 'to the pip' of your personal pivot calculations done on paper, but GBP/JPY must be allowed a 5 to 10 pip variance on almost all calculations of that nature anyway. What's the advantage to this indicator over the actual Pivot Calculator indicators? This indicator is placed on your chart one time and never has to be changed or updated for different sessions! It also moves (breathes) while the particular session you are in is going on. A 200 pip move during a particular session is going to affect the Daily Pivot. Why should you have to wait until that session is done to refigure what the Daily Pivot is? This indicator moves as price moves. This indicator does not help to calculate any other pivots (that I have discovered), only the Daily, which is the most important pivot on GBP/JPY, and you can only find it on the 1H chart. The lines will still show up on other TF's but those calculations will not give you the accurate Daily Pivot, only the 1H chart will do that. Here is a chart with the indicator and also the indicator itself. Put it on your chart and test it for a few days and see for yourself how well it lines up with the other Daily Pivot indicators. Hope this helps someone out there and makes your trading easier.
M2BIgnored
DislikedJust came back from outside ..
Yeah unfortunately .. I shouldn'd trade in NY session http://www.forexfactory.com/images/icons/icon8.gif
Will try to cut my lossesIgnored
Dislikedretracement due in 15 mins...may come to the daily pivot and close there, it has no power to go to 235 today, maybe on mondayIgnored
DislikedBesides all the good things to go short, I should wait for the 30 min qqe to cross down too before taking the short. Shall not miss it again anymore next time .. http://www.forexfactory.com/images/icons/icon9.gif
Still think it would go down next week .. might just leave open till it hit the SL.Ignored