GBP/JPY Equity Building Profitable trading strategies

[HAUGHT007]

Hey 4xStar,

I emailed that excel sheet to you. If it doesn't get to you, just tell me and I'll email it again. You can put in the leverage, acct size, spacing between orders, lot size, and price you start your loss leader. It'll show the margin held for each lot, the total unrealized profit at that price, and the total of the unrealized profit and how much is held on margin for your lots. If it's bigger than the account size it displays "TMTH!!!" in honor of RRAM. If you think of any other cool ideas to put on it but don't know how to do it, holler and surely between all of us we can figure it out.

[HAUGHT007]

I just realized that everybody was real creative with their screen names. I just used my last name then threw the debonair/dangerous 007 james bond thing on there to sound more like a dork.

[mytwopips]

Originally Posted by rrram2

"Knowing is not enough, we must apply. Willing is not enough, we must do."

Johann Wolfgang von Goethe

Easier said than done!
when you are a scalper
scalping may be a disease!

I know, I know. Not long after posting that I backslid and bagged some profits. Is there a 12 step program I can attend.

[mytwopips]

Originally Posted by HAUGHT007

I just realized that everybody was real creative with their screen names. I just used my last name then threw the debonair/dangerous 007 james bond thing on there to sound more like a dork.

mytwopips007

I like it.

[mytwopips]

What's the Ichy Wichy analysis for The Hillary?

[Andrewunknown]

Originally Posted by 4xStar

Is that a head & shoulders on the hourly U-J? If so, looks like neckline is sloping slightly upward and has already been broken, though not convincingly.

Keeping a close eye on all Yen crosses - just about every one of them (with the exception of N/J, A/J and CHF/JPY) are double bottoming. I'm not sure if a reversal is in the offing, or if one is whether we'd see it until Europe anyway, but it's worthy of taking notice in case the pattern evolves.

Also noteworthy here is that price is finding support on the Guppy @ the 38.2% retracement level (range: last week's low at 208.02 to this week's high @ 215.88) @ 212.87.

[Andrewunknown]

Originally Posted by mytwopips

What's the Ichy Wichy analysis for The Hillary?

Still bullish, but some mixed: on the 3H, price is above the cloud, but has crossed below Kijun Sen (weakly bearish); Tenkan Sen has also top down crossed Kijun (weakly bearish). The kumo here is angled steeply upward (from last week's move from 208-214) and is very thick, which provides a good support field. Chikou Span is even with price 26 periods (78 hours) ago (neutral). On the daily, there is also a mixed bullish reading. The guidance offered up by the chart then is that anything more than a deftly handled day traded short would be ill-advised.

[mytwopips]

Originally Posted by Andrewunknown

Still bullish, but some mixed: on the 3H, price is above the cloud, but has crossed below Kijun Sen (weakly bearish); Tenkan Sen has also top down crossed Kijun (weakly bearish). The kumo here is angled steeply upward (from last week's move from 208-214) and is very thick, which provides a good support field. Chikou Span is even with price 26 periods (78 hours) ago (neutral). On the daily, there is also a mixed bullish reading. The guidance offered up by the chart then is that anything more than a deftly handled day traded short would be ill-advised.

Thanks Andrew. I will deftly keep an eye on my margin and not get TMTH.

[Andrewunknown]

A couple things worry me about downside potential though at the daily level.

1) Unless something happens between now and 0000 ET, the Guppy is completing a bearish engulfing candle that will definitely take in yesterday's up candle - a close much below 213 consumes the two previous candles as well. No confirmation until tomorrow, but El Toreador may continue the rampage then.

2) Similarly, USD/JPY has a tweezer top forming with identical highs from yesterday and today @ 107.98. Also indicative of a top.

[Andrewunknown]

Originally Posted by Andrewunknown

A couple things worry me about downside potential though at the daily level.

1) Unless something happens between now and 0000 ET, the Guppy is completing a bearish engulfing candle that will definitely take in yesterday's up candle - a close much below 213 consumes the two previous candles as well. No confirmation until tomorrow, but El Toreador may continue the rampage then.

2) Similarly, USD/JPY has a tweezer top forming with identical highs from yesterday and today @ 107.98. Also indicative of a top.

1) Guppy support on fib fan speed line @ 212.45.

Next areas of interest: 212.23 (also 208-214 fib fan speed line support here), 211.95, 211.79, and then back to 211.02.

2) With further downside during Tokyo here, USD/JPY is shaping up as a tweezer top, bearish engulfing if there is no retrace. Next support in the 106.95 area, then down to 106.50 and 106.25.