Whoa… no time to spare on that market short. Got that one just on time. I went ahead and closed it because it was “a big” order.
Then… (don’t FLAME me bro) got another tiny long for the equity building strat.
Gotta go home now. I have Miller Lite and a Wife wondering what happened to me. Will be back for London open.
Glad you dipped in and made out well: no shame in taking profit, and a good point to do it, at that.
And no problem - I won’t razz you on the equity building entry. 
3 pips? Well…I [I]guess[/I] that’s an acceptable margin of error. 
Gee it is hard to keep up with so many quality posts…need to quit my day job to stay on top of this thread…all read all weekend…
had to track back 15 pages for this one…and Cadaritek…your making it look simple…no bad too considering it started the week on about 203.8 on my chart that will be 480 pips when it gets to 199.00 (if you cant do the maths)…wish i made 480 pips this week…just with one short…rather than the miserly 100 odd my account is showing…
look forward to next mondays weekend prediciton
It’s been a very good week, with lots of opportunities to play this back and forth, the latest of which was the pattern break below 200 last night. Or one short with a generous stop would’ve done the trick.
Next week’s prediction: down, unless reason emerges to negate that later today (not going to happen). There may be a decent pullback in trend, but the downward momentum is firmly in play so that would simply constitute a fresh opportunity to add short.
Check :
Now, check the fib fan for:
c) the swing high on 08/15 @ 206.52 to
d) the most recent completed swing low @ 201.79 on 08/21.
The .382 line is acting as lower descending trendline support since last Friday.
- Draw a fib retracement from the high in C to the low in D. What do you get? A 161.8% extension @ 198.80. Where did price on this trend’s lowest close (so far: today @ 0400 ET) fall at? 198.78. 161.8% is an extension point that is used by many who use fibonacci retracement in their analysis to determine the extent of a move. The move may continue (this move could continue to 261.8%, which is at 194.02 :eek: ), but 161.8% is an excellent marker at which to take profit. As we can see, some have done just that and we have a - less than inspiring - pullback.
Back for one more, on the USD/JPY symmetrical triangle:
http://forums.babypips.com/gbpjpy/15356-gbp-jpy-winning-strategies-28.html#post64982
Support breaking? Perhaps we’ll see some follow-through at least to 108.15. US consumer spending out @ 0830 may have some tangible impact here.
i just went long there thinking thats were support is and hence going to send it back up…
i better go back and reevalute…especially with the pending news:confused:
I missed a few days and wow so many posts. I want to weigh in about something that is bothering me.
TRO is allowed to post and he is on topic.
I think people bullying him is bull**t
RTO I thought we were clear about you posting smaller charts. Its really annoying man. You could try creating a thread where you post those huge charts.
why because you say so?? or even 4xstar??? Its not right
What about the free expression of ideas?
You know Im a business owner myself and I dnt always like what other businesses do or how the conduct business but at the end of the day we live in a capitolist world and as long as there is money to be made then somebody is going to make it. Having said that, I dnt think TRO is getting rich on selling indicators.
Follow his trades in real time he is making money trading. His stratagys are winning so they belong here. and honestly if he isnt welcome then I am not either. Ive held my tongue long enough. I really like everybody here and respect alot of people here, but yopu lose my respect when your allegations are baseless and retoric is flowing. People get “clicky” and they think they can run the show or create the rules. PERSONALLY I LIKE THE BIGGER CHARTS so why are you stepping on my toes? now every post I have to click a thumbnail because you said so??
Im sick of it grow uip already TRO this and TRO that. for the love of God grow up!!!
Sorry for clogging this thread with this completely unrelated post you know I love you guys but I just can’t take it anymore.
I am inclined to think we’ll see 193.xx area by the end of next week. I’ll post some charts and thoughs in a bit as to the why.
Thank you Johnny.
It seems as though people who start a “public” thread on a FREE “public” forum think it is THEIR THREAD and THEY GET TO MAKE THE RULES. THEY ARE THE DICTATOR OF THE THREAD.
To me, so long as you are ON TOPIC then you should be able to post in any thread.
What is really funny is how posting a chart on a trading forum upsets some people. The thread is about GBP/JPY. My charts showed GBP/JPY. Who cares what indicators are on the chart, where they came from, who wrote them, if they are free or cost money, etc…
If I see a chart and I like what I see, I’ll ask the person who posted about them. If they wrote the indicators and give them away, great. If they wrote them but offer them for sale, then it is MY DECISION whether or not to buy them. BUT SOME PEOPLE DO NOT SEE IT THIS WAY!
You are dead on, Johnny, about the “clique”. It’s like that on just about every forum.
“What about the free expression of ideas?” You’re kidding, right? Do you really think people want opposing or different ideas in a thread even if it is ON TOPIC? No way!! Either you toe the line or you get ostracized. They will petition the FORUM POLICE to ban you.
You can read what I really think about all this here:
Johnny, I really appreciate you taking the time to post and stick up for me.
Lots like there’s a little upside in the near future.
I wouldnt count on that, but of course anything is possible.
Looking at the daily chart, we are very clearly in a downtrend, over the last 10days or so the bearish candles range form 130+pips to over 300, there is no reason as yet why this trend is not going to continue.
The UK is heading (or actually already is) into recession, and things are only going to get worse in the short term. So my techinque has been so far to look at the daily low close, set a sell order anywhere from 80 to 200 pips above the daily low close of the candle, with a TP set 100 pips below that and follow it up with a 65pip TS.
Last week i had 4 sell orders filled and all TP’ed, and actually i could have set the TP probably 50-75 pips lower but i’m not greedy;) Set and forget…
Yes you could buy the retrace and i scalped a few here and there, but typically i only like to go with the trend having learned that the hard way.
So in my opinion look for the downtrend to continue.
You are right, I do NOT count on anything because anything is possible!!
A look on the daily chart shows a dynamic support level was put in at 197.61.
A 23% fib retrace to 201.99 wouldn’t surprise me.
Not to mention the price is past 3.0 STD DEV!!
REGRESSION TO THE MEAN IN THE NEAR FUTURE.
