Gbp/jpy

[4xStar]

Originally Posted by cadarkitek

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.

Wow .. that is amazing, you had it all in place to reverse and go short, I hope one day to be able to trade with that confidence!
Let us know here if you see a signal for the long ... that's how we learn

[Piphacker]

Hey Guy's didnt you Noticed the G/J Daily chart before going long...??? Now see the screenshot as G/J Yesterday have break the important support level and i was very much sure about it's bearish movement today...
PipHacker!!!

[cadarkitek]

Originally Posted by 4xStar

Wow .. that is amazing, you had it all in place to reverse and go short, I hope one day to be able to trade with that confidence!
Let us know here if you see a signal for the long ... that's how we learn

You could see the break below the triangle coming (normally in a wedge, pennant or a triangle price exit the same direction as it entered) . The DB was looking good for a reversal but when i see it dip a 3rd time I set the SS below.

[cadarkitek]

Originally Posted by Piphacker

Hey Guy's didnt you Noticed the G/J Daily chart before going long...??? Now see the screenshot as G/J Yesterday have break the important support level and i was very much sure about it's bearish movement today...
PipHacker!!!

Long entries are from yesterday when it was struggling to break that uptrend line.

[cadarkitek]

I will be going Short should price breaks below that blue line @ 200.00(close candle below), but a bounce up is definately what I'm anticipating. See pic below.

[Piphacker]

Originally Posted by cadarkitek

I will be going Short should price breaks below that blue line @ 200.00(close candle below), but a bounce up is definately what I'm anticipating. See pic below.

Usd Trade balance is about to come after an hour and 5/10 Minutes i think G/J Also already dropped for almost +200 Pip's since from morning... Batter to stay away from any entry right now...
PipHacker!!!

[4xStar]

FWIW it looks like there will be 3 black crows on the daily candles ... next support is around 198.50 so this may not be over yet.

[cadarkitek]

Originally Posted by 4xStar

FWIW it looks like there will be 3 black crows on the daily candles ... next support is around 198.50 so this may not be over yet.

Thats possible, in fact anything is possible with this pair. Sell Stop set @ 199.90, TP @ 198.60.
I took a deep breath a while back before deciding to start fool around with this pair. It was always the "stay away" pair in my book, but after demo with it for some time I figure how it moves (large profits or large loss in minutes/hrs).

[4xStar]

Originally Posted by cadarkitek

Thats possible, in fact anything is possible with this pair. Sell Stop set @ 199.90, TP @ 198.60.
I took a deep breath a while back before deciding to start fool around with this pair. It was always the "stay away" pair in my book, but after demo with it for some time I figure how it moves (large profits or large loss in minutes/hrs).

Yes, you have to treat it with great respect (caution) or it will slap you silly .. but it has also bailed me out of stupid mistakes I made trading other pairs, since it moves so fast, if you are on the right side of it you can make up a day's losses in minutes (!)
That's why I want to learn its every move ... if you played this one properly every week, it usually gives up hundreds of pips
cadarkitek, you are planning to re-short IF it drops below 200? Target then would be around 198.50? Do you know your PT in advance or do you just base it on signals as they occur in real time?

[4xStar]

Originally Posted by 4xStar

Do you know your PT in advance or do you just base it on signals as they occur in real time?

Oh sorry .. you put that in your post, I didn't read it carefully ..