GBP/JPY Equity Building Profitable trading strategies

[rrram2]

no sense waiting for a break of 210.75 heh
but why wait.

[rrram2]

Really now I am targeting 212.50, It looks like she is rising from the dirt now.

[Andrewunknown]

Now that's a nice way to start off the week - ride down from above 212, half out @ 209.70, stop and reverse @ 210.70. I reversed for a short with 1/2 in a few minutes ago, but the daily - unless we see a sell-off in Tokyo - is forming a hammer with a significant wick below - could pose an issue, but we'll see what pans out between here and then.

Trough and crest in a broadening channel down formation has been very uniform, 3H IKH remains bearish (finding resistance at Kijun-Sen ~211.62) below the cloud with the Tenkan/Kijun cross early Friday still in play; line studies (attached) show price hemmed in at 211.62 resistance, as well. I recall 211.50 turning out as a significant level on the way to 214, and it looks like we're seeing a reprise of that here.

[rrram2]

We might not get much out of Asia it was looking very consolidating earlier.
I expect it to be rangy unless someone over there gets excited. We will have to scalp them best we can. One pip a time LOL

[rrram2]

That candle shouldn't worry you. It is a signal that price may be resuming back up, still need further confirmation, but CANDLE looking like that is more than often screaming reversal.

Originally Posted by Andrewunknown

Now that's a nice way to start off the week - ride down from above 212, half out @ 209.70, stop and reverse @ 210.70. I reversed for a short with 1/2 in a few minutes ago, but the daily - unless we see a sell-off in Tokyo - is forming a hammer with a significant wick below - could pose an issue, but we'll see what pans out between here and then.

Trough and crest in a broadening channel down formation has been very uniform, 3H IKH remains bearish (finding resistance at Kijun-Sen ~211.62) below the cloud with the Tenkan/Kijun cross early Friday still in play; line studies (attached) show price hemmed in at 211.62 resistance, as well. I recall 211.50 turning out as a significant level on the way to 214, and it looks like we're seeing a reprise of that here.

[Andrewunknown]

Normal Divergence...survey says bullish, looking for a breakout above 211.65 or so. What do you say?

Maybe I'll take that short off.

P.S. ND is also present on USD/JPY and EUR/JPY.

[Andrewunknown]

Originally Posted by rrram2

That candle shouldn't worry you. It is a signal that price may be resuming back up, still need further confirmation, but CANDLE looking like that is more than often screaming reversal.

Yep - the only thing that might worry me is if I were short. Of course, I was, until a minute ago. Nothing like jumping the gun (happens on occasion). If you can admit you're wrong when you do so, you may live to tell the tale.

[rrram2]

Yeah looks like she may be trending back up ATM.

Originally Posted by Andrewunknown

Yep - the only thing that might worry me is if I were short. Of course, I was, until a minute ago. Nothing like jumping the gun (happens on occasion). If you can admit you're wrong when you do so, you may live to tell the tale.

[rrram2]

When you snooze you lose.

Originally Posted by rrram2

QUADROUPLE BOTTOM on the 6MIN @ 209.50

[rrram2]

Since I am wishing. I wish I wasn't holding these kiwis LT since I had to spend all my cash on mortgages (drawdown) UGH!