oh… Oh dear…
Well, I understand it now, and thanks for taking the time to explain it, I really do appreciate it.
I think I’ll close that trade then, as it hasnt really moved for a while (which is probably a good thing). I think that’s a chart to go on my wall
Nice setup PipDoctor! You will get much stronger setups on H4 or higher for sure. We seem to have sold nicely off that same level at least once already. Will keep an eye out.
No prob TWHM!
I am liking this 131.60 area on the GBP/JPY H4 for going long. Lets see how it tests.
http://img109.imageshack.us/img109/7572/gjlong.jpg
Also liking this EUR/JPY Old PVSH level at 117.25 for buying.
Just a higher low PVSL setup I missed today on the GJ, but thought I’d throw it up for practice…hope someone grabbed some pips on it 
Have a great evening!
Stopped out on GJ and EJ longs -100pips.
ouch, any idea why that happened?
Hi TWHM, well apart from the fact that we cant win them all, I went to bed and did not move my stops to breakeven.
Good Morning All,
Watching this Old PVSH and PVSL level on H4 EUR/USD @ 1.4620, we could buy off it for 1.4900, however a close below will create strong resistance for selling.
Also important PVSH at 130.50 on H4 GBP/JPY.
GBP/JPY is coming up to a pretty significant support zone where some nice moves happened after various fractal lows occurred during the past 6 months. A lot might depend though on what USD/JPY does and whether there’s some semi-offical intervention by Kampo to stem the fall there and also how Equities do. I’m hoping for a nice bounce to go long with though.
Long GJ, also long on 1.6340 PVSH H4 Reverse trade setup on GBP/USD.
Closed these longs, many counter long setups. Trend Bearish (scratch).
Looking better for longs now.
Good Morning All,
GBP/USD Long still looking good, we are now above the support of the H4 Old PVSHs of 8:00am June 7 and just below 8:00am June1 2011: 1.6408 and 1.6393. Looking to add to longs here.
EUR/JPY just above H4 Old PVSH support of 4:00am May 31 and 4am May 20 again @ 116.70 & 116.30 giving good buying opportunity.
EUR/USD now has daily PVSH support at 1.4570, which is for now being used as support for buying. Will watch this area a bit more as two PVSLs formed there on the H4 chart.
Will buy GBP/JPY with H4 close above 131.60 as 3 Old PVSH support levels, currently resistance, converge there. Also looking like PVSH reverse trade building at 131.20. Time will tell.
EUR/CHF now trading above 1.2245 H4 Old PVSH support of 4:00am June 1. Will buy H4 close above this level.
Very interesting! I dont know what has changed, but I now cant wait to get home and stare at charts for a while.
Quick question. You say that you will be looking to add to your long positions. How do you distinguish between adding to positions and taking profits? I have personally only added to positions a few times and more often than not it hasnt really been very beneficial.
Thanks,
TWHM
Good Morning TWHM, Yes I believe we should see a very interesting turn today. I’m not very sure how to answer the question. Adding to a position means that for example I bought low and keep buying each dip. I personally take profit at the same level for all positions. It makes a big difference as it allows you to multiply your profit. on a swing. Some persons scale out, which to me is not very beneficial. I hope I have answered your question.
Thanks for the reply. Not sure I completely understand, but thats ok as I am still keeping it simple.
I couldent resist taking a quick peak at some charts. USD/JPY daily in particular. It would seem to be testing the 80.00 level again. Maybe a buy is in the works for early next week? I will be watching around 80.40.
No prob TWHM! I cannot see my charts, no laptop today. Suppose I will see where we are at later today.
The EU 4H is flirting with an old daily PVSH at 1.4503. If it closes above could be a strong area to go long after todays drop.
I got greedy, went long and was up about 25 pips when I had to leave, set my stop at BE…should have taken profits when I had the chance. Oh well live and learn.
I feel like the last 24-48 hours have been a little unpredictable…
Won’t be around much tomorrow, so have a great weekend!
Made my weekly target early this morning! (thats not including the incredibly risky trade I did earlier this week)
Went short on GBP/JPY @ 131.22 and hit T @130.48. Looks like I could have had a lot more (dropped to ~130.05, and seems to be on its way down still) but meh. My priorities are “take what you can get” then “take what you need” and only then should you “take what you want”.
I’m done until monday. Have a good weekend everybody!
