Thread: GBP and JPY Pairs H1 2013

The euro gained, bolstered by a decrease in German government bonds. The Greek debt worries are easing as the European governments continue to take action to contain the crisis. The EUR/USD forex pair traded at a high of 1.3687 and a low of 1.3620. After three consecutive days weakening against the euro and the dollar, the pound sterling was finally able to post gains. This is largely due to the inflation rates, which have risen to the highest point in over one year (since November 2008).

The Dollar closed down significantly against the GBP in the wake of this forex trading news. It started the day trading at 1.5774 against the Pound but slid to 1.5044 at the close of the day. It also dropped against the Euro, although not as significantly, opening trading at 1.3762 before going on to close at 1.3758.

Do you guys think a move down to 1.3000 is possible? i know anything can happen in the market but looks like we might have 1 more wave down. Thoughts?

Daily chart.

Originally Posted by FXTA

Do you guys think a move down to 1.3000 is possible? i know anything can happen in the market but looks like we might have 1 more wave down. Thoughts?

Daily chart.

Yes...Here is a 10 MN posted earlier today. I think we go down to the 1.3500 area and then a bounce back up to 1.3650 - 1.3700 and then down to possibly 1.3000...

nice break here, was wondering when the wedge break was going to pick up steam. Lets see if this starts rollin down the hill. MACD is in the bearish zone (2hr) below 0. if this retraces, would look maybe to short again at 3588.
2hr and 15min chart

I shorted EUR/CHF @ 1.4358 one hour ago. Made an exception for EUR/CHF and open a second position as volatility is very low. So I can trade with SL.

Now it has broken down - as anticipated - I moved it to the zero-loss point.

Target open : I expect further losses. Nobody seems to act for EUR/CHF gains as usual when the action suffers big moves. I also expect a breakout of multi-month low near 1.40. I'll trade this by moving SL anyway.

Originally Posted by sandpipper

I'm not trading it, but a quick look at the charts show me the daily pivot is more than possible.

If your new at trading, you can help yourself immensely by looking only for trades with the longterm and short term trend....which as of now both are short. Just ask Bill, he only goes short and he is the poster child trader of the forum. :-)

"Poster Child?"
Jeez! Sandpiper I'm flattered. I will now add another Trading rule to My basket. "Never go to Bed without an open Short Position."
Well, until the Trend changes anyway.
Last Evening I retired completely detached from the Market and slept like a Baby. I woke this Morning to find I could have nailed at least 50 more Pips while asleep. Perhaps thats Greedy! I'm like that Guy at the Horse Races, who knows better, but wants to bet all the Races. Even the ones with Two year old Maidens, instead of just the Stakes Races. I'm just feeling right now that missing a Move is almost as dissapointing as being Stopped out.
My entry order of Yesterday at 1.3680 Yesterday never got filled. Perhaps I'll drop it down to 1.3580 and see if I get any action today.
Maybe I'll figure it out after My second Cup of Coffee.
Good Luck Traders

Got stopped on my short eur/chf @ 0-loss level. A correction looks to be highly needed according to daily RSI.

Originally Posted by bill2759

"Poster Child?"
Jeez! Sandpiper I'm flattered. I will now add another Trading rule to My basket. "Never go to Bed without an open Short Position."
Well, until the Trend changes anyway.
Last Evening I retired completely detached from the Market and slept like a Baby. I woke this Morning to find I could have nailed at least 50 more Pips while asleep. Perhaps thats Greedy! I'm like that Guy at the Horse Races, who knows better, but wants to bet all the Races. Even the ones with Two year old Maidens, instead of just the Stakes Races. I'm just feeling right now that missing a Move is almost as dissapointing as being Stopped out.
My entry order of Yesterday at 1.3680 Yesterday never got filled. Perhaps I'll drop it down to 1.3580 and see if I get any action today.
Maybe I'll figure it out after My second Cup of Coffee.
Good Luck Traders

Hey bill, perhaps let it retrace may be 40 - 50 points and then go in on a short and naail it after 20-30 points?? There will be loads of opportunities to get back in, 40 points a day is my target and i reach it almost every day in and out in and out

While sipping on My second Cup and much Navel contemplation. I have placed a Short entry order at 1.3575.
I also realize at this time that I have been posting too much. It's kinda like My own personal Twitter. I shall endeavor in future to keep My posts more of the inquiring type, and direct reply to questions.

Originally Posted by bill2759

While sipping on My second Cup and much Navel contemplation. I have placed a Short entry order at 1.3575.
I also realize at this time that I have been posting too much. It's kinda like My own personal Twitter. I shall endeavor in future to keep My posts more of the inquiring type, and direct reply to questions.

Whatever it is LET ME AVE SOME !!!!

Originally Posted by bill2759

While sipping on My second Cup and much Navel contemplation. I have placed a Short entry order at 1.3575.
I also realize at this time that I have been posting too much. It's kinda like My own personal Twitter. I shall endeavor in future to keep My posts more of the inquiring type, and direct reply to questions.

Bill, for your question on how to use Guppy's system, try this: Guppytraders.com - GMMA Guppy Multiple Moving Average you can change the chart type from bar chart to candlestick chart if you like.

Hi Everyone,

Just wanted to share my last trade, I went short at 1,3551, got out at 1,3528
23,1 pips profit... because the Stochastic Oscilator was showing it was oversold on the 4hour chart.
But If I look at the daily chart, It had a long way to go on the oscilator until it was in the oversold region..

What are your thought on this one, good exit or had to let it run?

as long as you are making money it's all good, but none the less it's best to always take half a position of profit when in doubt to make a little something and then move your stop loss to break even and let it ride...

Originally Posted by Don Miat

Hi Everyone,

Just wanted to share my last trade, I went short at 1,3551, got out at 1,3528
23,1 pips profit... because the Stochastic Oscilator was showing it was oversold on the 4hour chart.
But If I look at the daily chart, It had a long way to go on the oscilator until it was in the oversold region..

What are your thought on this one, good exit or had to let it run?

Originally Posted by Don Miat

Hi Everyone,

Just wanted to share my last trade, I went short at 1,3551, got out at 1,3528
23,1 pips profit... because the Stochastic Oscilator was showing it was oversold on the 4hour chart.
But If I look at the daily chart, It had a long way to go on the oscilator until it was in the oversold region..

What are your thought on this one, good exit or had to let it run?

Hey Don, nice trade. I think you should have let it run, the stochastics can stay oversold for a while and if it does turn up, it could just be a weak move to the upside and continue stronger to a lower level. Im short from 3617 and im going to hold this one for a while, What i would really like to see is a break below 34500, then the bear party starts IMO.

BTW, if this is another big wave down, you will have plenty of chances to get back in and ride the trend.