GBP/JPY Equity Building Profitable trading strategies

[HAUGHT007]

she's just sitting there riding the 200 sma on the 15'. on the 1 hr she's touching the trendline started on teh 26th that she's bounced off of twice already. Think we can break through 211.50 or are we looking at a corrective wave?

[4xStar]

Originally Posted by HAUGHT007

she's just sitting there riding the 200 sma on the 15'. on the 1 hr she's touching the trendline started on teh 26th that she's bounced off of twice already. Think we can break through 211.50 or are we looking at a corrective wave?

At this point I vote for corrective wave but of course anything could happen...
She is also riding the .75 fib retracement of the last SW/SL, according to a theory called ICWR (Best Forex systems: ICWR phenomenon example part 1) if a retracement does not close a candle above that .75 line, then the downward trend will continue.

We shall see .. she does have a mind of her own

[trav72]

just jumped on the Guppy Ride...loving all your knowledge...definately fast paced action packed ride. great thread....she is currently sitting on 211.42...
is she about to headed back down to 208.60?....i think she is thinking about it!

[rrram2]

When you snooze you lose.

But you still could have got in this morning at 7am EDT!

Originally Posted by mytwopips

Boo hoo

I slept through the London. I don't think I need to explain any further.

[rrram2]

I would say you can expect her to continue down and bounce off of 210.50. I dont think she can get lower but may even slide into 210.00 but thats it.
Right now she is sitting just above the 34SMA, so ST she seems to be taking a breather waiting for asia. most action will be uin the first 144 minutes of Asia, expect it to drag slowly into the Asia open/.

Originally Posted by HAUGHT007

she's just sitting there riding the 200 sma on the 15'. on the 1 hr she's touching the trendline started on teh 26th that she's bounced off of twice already. Think we can break through 211.50 or are we looking at a corrective wave?

[rrram2]

I expect to rock up into the 212's
overnight before frankfurt & london open or within the first 144 minutes of that I expect a 100-150 pip run down before a continuation up into NY open

Originally Posted by trav72

just jumped on the Guppy Ride...loving all your knowledge...definately fast paced action packed ride. great thread....she is currently sitting on 211.42...
is she about to headed back down to 208.60?....i think she is thinking about it!

[rrram2]

* New York Market trade times: 8am-4pm EST
* Frankfurt Market trade times: 1am-9am EST
* London Market trade times: 2am-12Noon EST
* Tokyo Market trade times: 8pm-4am EST
* Australia Market trade times: 7pm-3am EST

[rrram2]

Obviously and in case everyone doesn't know:
-volumne is heaviest when markets overlap and a better time to trade.
-almost 3/4 or all trading in NY occurs WHILE EU is open/trading.
-at least half of all traders are in US or UK
- market open order: New Zealand, Australia, Asia, Middle East, Frankfurt (EUR),
London, USA ( all of these are effectivly ahead of us) so when the market opens sunday it is NZ first then AU and lastly NY opens the next morning at 800 (or 930)
depending on who you talk to but officially it is 8AM.

The majority of all trading occurs AGAIN during open markets overlapping,
AND during the first 144 minutes of a market opening.

I am not normally affected too much by this, but this is when the market will move which is the best time to trade and the best time to make a profit and you will notice perhaps these times are when the market moves the most as more traders are trading in more places in the world.

[rrram2]

now would be the time to go short if you were so inclined....I AM NOT!

[rrram2]

As i expected as soon as I said that she heads due north