Thread: GBP and JPY Pairs H1 2013

Haven't heard too much from the Bulls Today. As all My positions have been closed, I have the time to stick My head above Water and look around.
I went to the Charts, all of them. From tick to Monthly. We're only a couple of hundred pips from a very old Low (Oct 2008). What that would mean , I have no Idea. The weekly RSI hasn't been lower since the first Week in February.
I can see some resistance down here.
Sean says, and I'm inclined to agree, a Trend usually goes farther and deeper than we all expect.
So from My interpretation, there may be a nice sized retrace, or an actual change of Trend.
Therefore, listening to that "still small voice" in My Head, or is that Madaam Babushka muttering in a deep Trance.
I'm gonna stay with the Trend, but I sure would like a bounce up to 1.27 again before I jump in. Short of Course, Bully Boys.

Considering the current support and slowness of the market, trying a contra trade. Long $1.2618. Not looking for too much. Will close and reverse on any weakness. Stop is below the recent lows on a manual to avoid a fake out or big spread.

TAfool

edit:stop to +1, $1.2619

Originally Posted by TAfool

Considering the current support and slowness of the market, trying a contra trade. Long $1.2618. Not looking for too much. Will close and reverse on any weakness. Stop is below the recent lows on a manual to avoid a fake out or big spread.

TAfool

edit:stop to +1, $1.2619

Was thinking the same thing, but waiting to see what Asia does first. Bagged 89 pips today. I do like Bill's thinking though...wating for retrace and riding the trend.

I do agree where you place your stop, ya never know.

Is it ok to say I went long at 1.2624, or will I get lynched?
Of course, I do have my stop at +1p
It'll probably pop, but I had to try it.

Originally Posted by rickos

Is it ok to say I went long at 1.2624, or will I get lynched?
Of course, I do have my stop at +1p
It'll probably pop, but I had to try it.

I'm long at yesterdays low with you

closed this for 40 pip went short for 15 pips and back long again

Originally Posted by CodyB

I'm long at yesterdays low with you

Well, if that's the case, stop is now removed.

Originally Posted by rickos

Is it ok to say I went long at 1.2624, or will I get lynched?
Of course, I do have my stop at +1p
It'll probably pop, but I had to try it.

I will be going long as soon as I see a little Asia market action. Want to enter long at the possible lowest point.

Originally Posted by rickos

Well, if that's the case, stop is now removed.

better not do that....might make it back to neutral but PA not really telling us much. $index looks ready for a small tumble to 82.15 which is the 618 from BO to current top so now we wait and see...the 786 is 81.27 even better yet. Now will the market allow the EU to rally when the $index drops? we will soon find out if both happen but thats the reason for my long sure not PA

The index can also just keep climbing but i think it will drop first. either way I have pips locked so its a stress free trade no matter what happens...now it is time to go see the sun set and have ice cream on the beach...

good luck

Guys, you don't think that our friends from the East are ready to bang it through 1.26 this evening. I think we are poised to take it down.

Originally Posted by CodyB

better not do that....might make it back to neutral but PA not really telling us much. $index looks ready for a small tumble to 82.15 which is the 618 from BO to current top so now we wait and see...the 786 is 81.27 even better yet. Now will the market allow the EU to rally when the $index drops? we will soon find out if both happen but thats the reason for my long sure not PA

ok, ok...whatever the master says...

Besides, how many freakin times can it hit 1.27. I am sick of that handle. Need a change of scenery like 1.25

Originally Posted by Renegade

Guys, you don't think that our friends from the East are ready to bang it through 1.26 this evening. I think we are poised to take it down.

That's why I'm hanging back. Last night was a good ride up, need to see what Asia market does.

1.25 would be nice, already in for that one.

Originally Posted by TAfool

....Long $1.2618. Not looking for too much. ....stop to +1, $1.2619

Pattern projection met at $1.2641. Set stop to $1.2638 to lock 20 and let it ride.

TAfool

Edit:added chart
http://www.tafool.com/Charts/eurusd0512105m.gif

Originally Posted by Renegade

Besides, how many freakin times can it hit 1.27. I am sick of that handle. Need a change of scenery like 1.25

I know what you're sayin' -- I actually resorted to minute/tick charts today. Raking in some Cheeseburger pips.

My eyes started to glaze over around 3 hours ago and I was falling asleep at my desk. lol

Originally Posted by TAfool

Pattern projection met at $1.2641. Set stop to $1.2638 to lock 20 and let it ride.

TAfool

Edit:added chart
http://www.tafool.com/Charts/eurusd0512105m.gif

I have pulled up Aget charts on EU from 30 min to 4hr and none of them show anything UP..everything is down from here on them but then again its only software for EW and not to trade from. I like to look at them for confirmation sometimes if many TF all concur