GBP/JPY Equity Building Profitable trading strategies

[rrram2]

Thats what I have already done when I got home

I sold my longs from 210.82 and have only 2 left and will be buying
211.09 210.59 210.09 209.59.

I am still long on some NJ, and won't have a problem holding these for 40 years as every 21 days my margin required to secure this trade will double.
so that is 100% interest for 3 weeks, AND I get interest daily
so IMAGINE what some compunding can do.

Originally Posted by HAUGHT007

The 1 hr chart shows to be losing momentum at the 38.2 fib line of the last drop. The 4 hr has a little bit more room to go on stochs to be oversold. The daily chart is showing strongly overbought with room down to mid 209's to hit the first trendline resistance. I'm gonna hold out a bit and space my orders 50 pips apart starting at 211 and going down to 209.50. Hopefully we won't get down that far before she starts her mad dash higher!

[rrram2]

"As you think, so shall you become."
Bruce Lee

[rrram2]

210.90's. I think we are only going to dip so low before rebounding to new highs. I haven'thad much time for analysis. So I am takingit conservative here as I expected a retrace down to here and maybe another 50 pips down.

[Andrewunknown]

The short-term up-trend is weakening. Some great pips this week on the run to 212.83 and off support at ~210.70, and while that level is still intact (and my latest long from there along with it), there are some technical markers we could see a deeper, protracted retracement.

King (BoE governor) has a speech later on today, which may prove decisive in direction, for the trading week anyway. Some hawkish comments could be in the offing, since the BoE does need to elaborate a plan for managing inflationary pressures - this may (*may*) result in a loosening cycle (however brief) beginning later this year. That would result in further Guppy up-side, and may cause a break into the 213s+. But there are other fish to fry for the BoE (think of the Fed's present stagflationary conundrum), so it might not be this simple.

U/J continues to bounce along the 108.30-108.50 threshold put in as a ceiling back in February. Technically, both pairs are playing out very similarly, with U/J battering away at resistance more consistently than the tepid attempts by G/J (sorry to have to say this about her, rrram!). Maybe she didn't drink enough Red Bull and is just a bit tired after running 1000 pips north in under a month. Or maybe she's just depressed because of the N/J turncoats on this thread....

With that said, I'm taking a contrarian view here, closing my long, and scaling in on shorts for U/J from 108.30 and G/J from 211.10. If price throws back to 211.50+, I'll reassess.

[4xStar]

Originally Posted by rrram2

210.90's. I think we are only going to dip so low before rebounding to new highs. I haven'thad much time for analysis. So I am takingit conservative here as I expected a retrace down to here and maybe another 50 pips down.

Nailed it to the pip .. it hit 210.40 around 5 am eastern

Jeb's latest analysis basically agrees with Andrew's for what look like entirely different reasons ... I'm getting better at deciphering his charts, so here is the latest:
After hitting 210.40, price continues back up to either 211.93 or 212.19, then makes a deep corrective wave to either 207.81 or 205.66. The depth of correction depends on the height of retracement ... the higher it goes, the deeper it will correct.

If price breaks 212.62 that will be a bullish continuation and correction is invalid.

I once met a guy online from one of those new countries they carved out of Yugoslavia, can't remember the name now .. but he was an expert in the gartley patterns (butterflies & stuff .. google it) and I have never .. I mean never .. seen anyone able to nail every movement of the G-Y to the pip. By the time I figured out that he was dead right every time, he left the chat he was in & I don't know how to find him now. So I thought, great, I will just learn those patterns .. but wow, are they complicated .. I think it would take years to learn .. or a certain kind of mind. I have an MT4 indicator that will draw the patterns if anyone is interested. But drawing them is only a part, the interpretation is key. They also do not show up all the time, but when they do, if you know someone who can read them correctly it is better (and safer) than robbing a bank....

PS Andrew, I started a thread for Ichimoku in the Swing Trading section, there is some interest but they think *I* am the sensei (teacher). I know next to nothing about them .. so could you drop by & share your knowledge? Thanks

[pipsquito]

No one is around...

Waiting for the gup to go up...

This market is making me sea sick. I am closing 10 pip positions figuring that's the best I'll do. Waiting for 216.

Anyone around?

[rrram2]

I hope you sold your longs at 212.50 ( the line in the sand)

Well Needless to say All MY GJ's SOLD for big pips

Whats up Todd?

[rrram2]

And I should have had a boat load more.

I am not going on vacation yet, but when I do I always trade

But I am singing the victory dance this morning.

Hold cow 100 pips in less than 15 minutes that was some awesome news for the GJ.

HOw it is that I wake up automatically this morning within minutes of my longs hitting 50 pips tps? I should have sold at 212.50, the line in the sand but couldn't do that to her even though now my impression is some more retrace and we could get down into the high 209's, but lt i still dont see that downward motion in the works.

I am very busy, as I am helping a friend of mine get into some new working scenario.

Originally Posted by Andrewunknown

The short-term up-trend is weakening. Some great pips this week on the run to 212.83 and off support at ~210.70, and while that level is still intact (and my latest long from there along with it), there are some technical markers we could see a deeper, protracted retracement.

King (BoE governor) has a speech later on today, which may prove decisive in direction, for the trading week anyway. Some hawkish comments could be in the offing, since the BoE does need to elaborate a plan for managing inflationary pressures - this may (*may*) result in a loosening cycle (however brief) beginning later this year. That would result in further Guppy up-side, and may cause a break into the 213s+. But there are other fish to fry for the BoE (think of the Fed's present stagflationary conundrum), so it might not be this simple.

U/J continues to bounce along the 108.30-108.50 threshold put in as a ceiling back in February. Technically, both pairs are playing out very similarly, with U/J battering away at resistance more consistently than the tepid attempts by G/J (sorry to have to say this about her, rrram!). Maybe she didn't drink enough Red Bull and is just a bit tired after running 1000 pips north in under a month. Or maybe she's just depressed because of the N/J turncoats on this thread....

With that said, I'm taking a contrarian view here, closing my long, and scaling in on shorts for U/J from 108.30 and G/J from 211.10. If price throws back to 211.50+, I'll reassess.

[rrram2]

"Do what you love and the money will follow."
Marsha Sinetar

[pipsquito]

Hey Elijah!!

Ah yes, what a glorious morning! I don't think I've seen anything quite like that. I had three big longs on the guppy that hadn't gotten taken out yet, and two of them were hit and I let them run...made an oodle.

The GU went up 100 pips in about .1 second. Very exciting.

So...what's up for the GJ?? 216?

Thanks for asking about me...I have been in the shadows. Much work here to contend with. I have not been able to trade your method this week. My computer situation is dicey right now and I am changing my office arrangement so things are in disarray. I will be back in the saddle next week. I want to trade your system live again but don't know how I would go about doing that...

Hope Virginia is doing well...I'll be visiting family around the 4th and driving down through Richmond to Norfolk. Spending most of the time in Winchester.