Gbp/jpy

[cadarkitek]

TP-1 hit @ 208.17, still has another lot open and looking to buy again should price bounce.

[moneymagnet2]

where is everyone. is this the right room?

[Piphacker]

Well Guy's there were two very Important Support level's
1) --- 205.50 Which break's & +102 Pip's...
2)----204.82 Which break's & +30 Pip's so far...
PipHacker!!!

[cadarkitek]

I think its time to go Long again on this pair. I just wake up and find a nice bullish engulfing candle sitting on top of an outer-trendline that i drew some time ago. I also find fib. retracements/convergence .381/.618 at this same level. Buy two lots this time around, planning to ride it forever, all the way to 208.00. My entry should be @ 203.68 at the close of the EB, but I didnt catch that entry. See pic below.

[4xStar]

Since this has reversed again, possible double bottom .. what is your stop??

[cadarkitek]

Originally Posted by 4xStar

Since this has reversed again, possible double bottom .. what is your stop??

202.00, 30 pips below the last low. I dont normally use SL greater than 75 pips but because this pair move so aggressive at times I do.
I see a potential double bottom also, I'm gonna Long another lot should I get another signal at the DB. My initial entry should be at the close of the EB, if i had enter then I would have close 1 lot already for about 70 pips.

[4xStar]

Originally Posted by cadarkitek

202.00, 30 pips below the last low. I dont normally use SL greater than 75 pips but because this pair move so aggressive at times

Tell me about it! I love the way this pair moves, but only when I am going the right way with it
I am long as well, 203.00, will put stop at 202.50 and re-evaluate if it retraces that much .. otherwise, 208 here we come

[4xStar]

G-Y is really struggling here around the 202.35 area, if it breaks from here it may go at least to its monthly S1 at 199.45. If you draw parallel trendlines from Mar 17, they are slanting upwards but as of midnight est, price broke below the lowest line. It has to recover fast or, the next phase will be down, imo. I am still pretty inexperienced so these are just observations, I'll look forward to the opinions of those more experienced than me .
At some point this is going to be a great long again, I don't want to miss it!

[4xStar]

Once it passed 202.20 it collapsed within minutes to the mid 201's .. what next?

[cadarkitek]

Originally Posted by 4xStar

Once it passed 202.20 it collapsed within minutes to the mid 201's .. what next?

SL hit @ 202.00. I had Sell Stop Order below the descending triangle @ 201.90, 1st TP already hit @ 100 pips. "Never marry a trade".
I'm riding the wave down but definately looking to Long if I get a signal.