GBP/JPY Equity Building Profitable trading strategies

[rrram2]

[B]“Tough times never last but tough peope do.”[/B]

Robert Schuller

[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.

[4xStar]

Strong buy GJ at 213.50going down maybe 20-30 pips on the next couple heading down into 212.42. If we break 212.42 carefully space them after a break of that, maybe next one at 40 -50.

This is going to be a wild day. Those with orders on the books will bank pips.

Maybe this is a good time to try that strategy of setting buy stops after the price moves down so they trigger when it turns back up … only problem is knowing how much room to give it so as not to get whipsawed. Good day to experiment though.

[mytwopips]

I’m conservatively getting leaders now at .25:1 leverage.

[mytwopips]

I will start trying to hold my longs past just the other side of the 200 ema. I believe fundamental sentiment is going to be long so we need to take full advantage of up trends. So get your orders in on this down trend dip and be prepared to hold for a while and not scalp your money makers at the bottom.

[rrram2]

212.76 may be as close as we get. She seems to be heading back up.

Were you short GJ into 212.80’s from 215.50’s Andrew?

[rrram2]

to get longER

[rrram2]

I guess if I am going to start making predictions I need to post my charts/data to support it. And or start putting some money behind it. I am eyeing NZD/USD, if that thing hits .74 that is a strong buy for me. The USD is still in dire straits, but it will be coming back. You can bet your britches that gold will sink going into thansgiving. The key to sucessful trading is mostly psychological. “Let EVERY man (or woman) be fully persuaded in thier own mind”.

I [B]should[/B] have bought some NU at .74 I knew it. I would be up pips and up interest. I still am not really in too deep on NJ. I am scalping a few but I am in this one for the long haul until I can beef up my account.

[rrram2]

[B]“Knowing is not enough, we must apply. Willing is not enough, we must do.”[/B]

Johann Wolfgang von Goethe

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

I will start trying to hold my longs past just the other side of the 200 ema. I believe fundamental sentiment is going to be long so we need to take full advantage of up trends. So get your orders in on this down trend dip and be prepared to hold for a while and not scalp your money makers at the bottom.

[rrram2]

Is starting to look like a H&S

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.

[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]

[B]“Knowing is not enough, we must apply. Willing is not enough, we must do.”[/B]

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]

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:D

I like it.

[mytwopips]

What’s the Ichy Wichy analysis for The Hillary?

[Andrewunknown]

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]

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]

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]

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.