GBP/JPY Equity Building Profitable trading strategies

[rrram2]

I was think we were headed back north at 4am this morning.

We had a nice move down from about 2am and bottomed out around 3AMish about 211.20.

Looks like we couldnt get too much higher and ran out of steam before 212.
Back down around 211.50 is still a goood buy level.

GBP is still looking like it is going to gain on JPY all week, UJ has jumped back up nearing 108 and GU is down in the dump again which is driving GJ down.

I am sitting with a basket full of NJ's long, wondering if this girl is too slow for me.

[Andrewunknown]

211.50 is shaping up as a significant level of support here above 210.67. There's a rare, complete unanimity between the different charts I use here.

Ichimoku slapped that move into the kumo (cloud) to 211.20 back to the top of the cloud @ 211.46, but no higher. There's some weak bearish signs here, but we're still in a neutral-bullish zone relative to the cloud, so nothing to act on from IKH. Price did just close down inside the kumo, however - the bottom of which is at 210.70. If price closes outside the bottom of the kumo, back to the 209s.

The 50% fib fan (third red line from top) also feel @ 211.46, and (as you might've guessed) likewise snapped the rate back to just above there. Price did just close inside that line, but has since moved below. Projections are the same as the IKH chart.

Finally, the 144 (211.49) and 169 (211.29) EMAs on the hourly (you'll recognize this as the Vegas price tunnel) are providing support in the same area mentioned.

The bears have been battering away at this 211.20-211.50 region for four hours, but to no avail thus far. Conventional technical wisdom says that line becomes stronger with each successive touch; but then, we're dealing in probability.

Stops are set and I'm off.

[4xStar]

Originally Posted by Andrewunknown

Ichimoku slapped that move into the kumo (cloud) to 211.20 back to the top of the cloud @ 211.46, but no higher. There's some weak bearish signs here, but we're still in a neutral-bullish zone relative to the cloud, so nothing to act on from IKH. Price did just close down inside the kumo, however - the bottom of which is at 210.70. If price closes outside the bottom of the kumo, back to the 209s.

what timeframe is this IKH? I am not seeing those numbers ... you can also answer in the IKH thread if it is a bit off topic here.

[PipSurfer]

rrram- just came across your thread. Thanks for your contributions! I'm following with some great interests dude. Keep up the good work!

-PS

[mytwopips]

Originally Posted by rrram2

I am sitting with a basket full of NJ's long, wondering if this girl is too slow for me.

All the girls are slow right now. I have a basket full of g/j.

I wanted to short the euro last night and didn't. I wanted all my capital for my g/j longs and didn't want to get married into the euro. You know that is the trait of the euro girl. She teases you into a swing trade and then won't let you go. She will look hot when you make the date and then you will spend a week waking up to her in a moo moo and curlers.

Now I wish I took the short. Oh well... would of, should of, could of...

[rrram2]

And I am finding NJ and GJ travel almost exactly the same. They have the same highs and lows to the minute as each other.

In fact I am finding now that GJ is a leading indicator for the slower NJ. NJ moves so slowly it is boring as heck, But since I am relegated to training a new tech, which will end soon I am out of the office usually lately.

I got some made thousands of checks coming in and can't wait to get some dolalrs back into GJ, but for now NJ is much safer and I am assured of DOUBLING my margin used to secure my NJ lots in 21 days exactly.

It is noteworthy that I am trading my FXSOL account now with 100% profits so it is like starting over again with just under $700. SO in an effort to be extra safe while I am away from the terminal that I invest in NJ until I can get back to my terminal full time.

I caN ASSURE everyone that trading while you are away without stop losses in place is a chANCE for disaster. I am however easily maintaining a 5% or less margin useage so far on my 16 1K NJ lotsw drawn on my about $700, 100% profit account. All my monies have been removed.

And not that this will make me feel any better if I bow my account account again EVER. I actually hate giving back profits MORE than I hate losing money. But these days it has been many months since I lost any real money in forex. Forex isn't feeding me anymore, not at 1000 pips a week average at 10 cents a pip.

But I will when I get some time (maybe from a vacation!) to trade with some fat money and take some ignorant big boys money.

I am so glad fxsol is a sponsor here That way I can share my experience with them here without having to worry about getting banned. Right?

I think those tyrants at the french fry farm would ban you if you said something good about a broker and they werent one of thier sponsors.

FXSOL is thus far the best broker I have ever used and I have used many.
What sets them apart is their intuitive trading platform. I get my orders filled virtually 100% of the time. The withdrawl checks are VERY speedy. 3 days or less from New Jersey to Virginia is excellent.

Originally Posted by PipSurfer

rrram- just came across your thread. Thanks for your contributions! I'm following with some great interests dude. Keep up the good work!

-PS

[rrram2]

"I have not failed. I've just found 10,000 ways that don't work."
Thomas Edison

[rrram2]

"Nurture your mind with great thoughts, for you will never go any higher than you think."

Benjamin Disraeli

[rrram2]

GJ did regain 212.00 but closed just below that at 430 and while it held above 212.00 for a bit after that, it is now struggling to hold itself above 212.00

Another hour or so and the asians will come offering yen

[mytwopips]

I just closed all of my longs at profit. (with +swap )

Price seems neutral to me now and I have a clear board.

All other pairs aren't giving me any reason to put orders in either.

So I guess it will be beer on the back porch tonight. Maybe this market will wake up this week. Lots of good stuff on the way.