Thread: GBP and JPY Pairs H1 2013

Just wondering would this be defined as a cup





Or maybe i shouldbe asking if this is how a cup should look like???

Originally Posted by PoundGuy

Just wondering would this be defined as a cup





Or maybe i shouldbe asking if this is how a cup should look like???

Dear Mr PoundGuy,

I think You'll find that it is actually a Eur/Usd Chart.

Here is a cup.....

uummm I see all guys are sleeping .
No look at this finally eur start to fall down . all you watching charts it is now 1.1920 I am in @1.1961 . see what is happening.

Originally Posted by esi2535

uummm I see all guys are sleeping .
No look at this finally eur start to fall down . all you watching charts it is now 1.1920 I am in @1.1961 . see what is happening.

Good Morning Esi,

For me I'm now into my 5th hour at 11:15 British Time which I think is 10:15 GMT.

I take it your position is short. May I ask what your target is please?

Colly
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Looks like a flag or pennant forming on the 5 min chart. Do these break down or up or either?

Originally Posted by Jules22

Looks like a flag or pennant forming on the 5 min chart. Do these break down or up or either?

Dear Mr Jules,

The difference between the two is that a flag has something towards parallel lines whereas a pennant has converging lines.

They are however, both "Continuation Patterns" and therefore as per the 5 Min Chart the break would be down.

Colly
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Originally Posted by Colly

Dear Mr PoundGuy,

I think You'll find that it is actually a Eur/Usd Chart.

Here is a cup.....

That's funny!!!

A-Yo Bro

Hi Colly in this situations I look to MACD on 15 min chart. It has less risk . and it is near to exit with few pips but if MACD signals stay in sell my target is 1.1680

Originally Posted by Colly

Good Morning Esi,

For me I'm now into my 5th hour at 11:15 British Time which I think is 10:15 GMT.

I take it your position is short. May I ask what your target is please?

Colly
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Originally Posted by esi2535

Hi Colly in this situations I look to MACD on 15 min chart. It has less risk . and it is near to exit with few pips but if MACD signals stay in sell my target is 1.1680

Thank you for sharing that Esi

Originally Posted by AyoBro

That's funny!!!

A-Yo Bro

Well i did. I bought on some of the very severe dips. and closed out 40 points....
I cant help it. when the price of the eur drops to these lows i have to scalp.
Now i have a forward long position (sept) only small £2.00 stake just as what i call my bait trade to ride any upward momentum towards end of week.

At the same time though i shall be placing shorts as it climbs in and out stuff on the spikes

As your a decent techi for charts. Where do you think the eur will go up to friday? Lots of traders i am talking too are waiting in the sidelines with some heavy longs to place liquidity back in......

whats your view?

Originally Posted by cw1

Well i did. I bought on some of the very severe dips. and closed out 40 points....
I cant help it. when the price of the eur drops to these lows i have to scalp.
Now i have a forward long position (sept) only small £2.00 stake just as what i call my bait trade to ride any upward momentum towards end of week.

At the same time though i shall be placing shorts as it climbs in and out stuff on the spikes

Dear CW1,

You said 100% of your trades are aligned with the trend !!!!

I'll forgive you

Now, if you please, what is a "forward long position (sept)" and how on earth does one trade £2 ??

Colly
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Originally Posted by cw1

As your a decent techi for charts. Where do you think the eur will go up to friday? Lots of traders i am talking too are waiting in the sidelines with some heavy longs to place liquidity back in......

whats your view?

Hmmm, I honestly don't know.

I am seeing triangles in almost every pair that I trade right now and that is unusual given the crosses, however, my view extends only to today really.

What I am looking at here with Eur/Usd is:

1. Is this Wave 4 of 5 ?

2. If so, then is this a triangle ?

3. If so, then the upper red line shall hold or thereabouts and we shall move down to test the bottom one.

4. If the bottom one breaks, then, I shall look to re-establish a count for 5 waves down from there.

5. Once that is done should it be then I would not discount an extension given the current fundamentals and as always I would base my determinations on the Twin Speed RSI's that I use across all time frames to establish my course of action, if any, at that time.... and NEVER before it.


I don't know what that looks like from a time point of view, and since it would be presumptious to consider that when the first of my question items are unanswered then I shall not consider it but do as you are doing and taking those opportunities that I see in the moment.

To be honest with you, I am not the greatest fan of this type of trading but I have requirements to achieve and maintain. Simply speaking, I have a Compound Rate Requirement of 3% per day of Balance which I record daily but only really consider at the week-end. I am ahead of target week-to-date and so am being very realistic about what is in front of me in the moment and taking it from there.

Should I see anything worth sharing then I shall do so all being well.

I don't know if that helps any but its where I am at with it now.... and, I pay very little attention to what others believe.

Colly
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here is my take on euro.. mike