Thread: GBP and JPY Pairs H1 2013

Originally Posted by bill2759

Happy? Embarrased would be more like it. I have three open positions. Two of them below 1.20.
The one at 1.2145 will get Me My 50 Pips if the Gap is closed. Another three hundred Pips against Me and thats when I pull the plug.
In the here and now, I'll be scalping to add pips to my account until the World comes to it's Senses.

I kind-a feel this week is for bears. last weak was for bulls. Starting with Greece downgrade, more news to come. Hoping this week.

Anyways, Itally tie PAR and the Celtics is one step to the championship. What else ?

Colly, maybe you should find the way down. 1.2090 is still not staifying.

What the bull corrective move made over 2 weeks, should be broken in couple days. This is how the main trend work.

It is the time...

Originally Posted by Colly

Hehehe, I may as well be glued to it!!

I darn't look at my closed positions but think its something like 27 x 2 pips

Its sure looking like b creation time now on the 10 min chart and I attach it here for you to see too.

It seems that this market is intent on forcing me to survive on minimal sleep at the moment anyways. Nevertheless, looking on the bright side, if I've got this lot right then it should get very easy to fore-see what the deal is and clean up abit in both directions so we remain forever hopeful.... or damned stupid
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Attaching:
10 min local

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True, LOL It's late, let's get some rest. I will say though, it's been 8 hours since the recent top and price is taking the stairs down instead of the elevator on both EU and GU. So shallow retraces(38.2 minimum) may occur for both, 50 fib if we are lucky. My 4hr has turned south 4+ hours ago but no forciful pushes south. I think price needs to get D-Boe'd by some stiff resistance but we'll have to see if that brick wall is w/in the small drop or above the top? It's kinda bad for the shorts, w/ bad news(Greece downgrade) already issued but no follow thru south. It must be a volume or liquidity issue?

A-Yo Bro

Originally Posted by Bilstein

You know, looking at the 4H chart, the last pop we had in May isn't any more impressive than the one we're having now. In May, it was approx. 550 pips, this time, approx. 440. With a MACD zero-cross looming in the horizon and a maxed out RSI, I don't see how this will go much further up in the wake of the dominant trend. But, stranger things have and will happen, I'm sure.

I was thinking of a stop hunting spike above the high, maybe 2230-50 range. 4hr stochs and RSI could use some negative divergence right about now. The scary part is, all TFs hrly and below, most indicators have come off of o/b levels?

A-Yo Bro

Originally Posted by Colly

Hehehe, I may as well be glued to it!!

I darn't look at my closed positions but think its something like 27 x 2 pips

Its sure looking like b creation time now on the 10 min chart and I attach it here for you to see too.

It seems that this market is intent on forcing me to survive on minimal sleep at the moment anyways. Nevertheless, looking on the bright side, if I've got this lot right then it should get very easy to fore-see what the deal is and clean up abit in both directions so we remain forever hopeful.... or damned stupid
----

Attaching:
10 min local

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Price action feels corrective to me. Above 2226 maybe a sign?

A-Yoooooo

Originally Posted by AyoBro

I was thinking of a stop hunting spike above the high, maybe 2230-50 range. 4hr stochs and RSI could use some negative divergence right about now. The scary part is, all TFs hrly and below, most indicators have come off of o/b levels?

A-Yo Bro

Yeah I noticed that too. I set my order a few hours ago a little below the last small clump of sideways junk on the hourly, lol.

I suppose we'll see. I agree with you on the spike, man; I'm just hoping it doesn't reach my order before doing it.

Originally Posted by Bilstein

Yeah I noticed that too. I set my order a few hours ago a little below the last small clump of sideways junk on the hourly, lol.

I suppose we'll see. I agree with you on the spike, man; I'm just hoping it doesn't reach my order before doing it.

GL, I'm flat on the sidelines for now. I have to get to the lawn, so see you folk a little later.

A-Yo Bro

Originally Posted by AyoBro

GL, I'm flat on the sidelines for now. I have to get to the lawn, so see you folk a little later.

A-Yo Bro

Hit that lawn, bro!

Originally Posted by bill2759

Happy? Embarrased would be more like it. I have three open positions. Two of them below 1.20.
The one at 1.2145 will get Me My 50 Pips if the Gap is closed. Another three hundred Pips against Me and thats when I pull the plug.
In the here and now, I'll be scalping to add pips to my account until the World comes to it's Senses.

Originally Posted by AyoBro

Price action feels corrective to me. Above 2226 maybe a sign?

A-Yoooooo

Just doing some approximating...

if this retracts to 50% @ circa. 1.2087, the targets levels are there-after:

1st: 1.2424

2nd: 1.2762

3rd: 1.2972

if it retracts to 38% circa. 1.2138

the targets are higher.



Essentially, the deeper the retraction, the lesser the extension.



Bill, thats a tough call but if I were in your situation and this scenario starts to become real, I would hedge on the grounds that the shorts will come good but not necessarily this side of 300+ pip upside potential.....

I am not guaranteeing this pattern but its the most favourable one in my count options, and, one that even for those that are not using the same basis seem to have similar target values.... potentially anyway.

Lets see what tomorrow brings I say.

Colly
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Originally Posted by Raasmasud

wat do u say .. put on a buy for now or shall stay with a short

Hello Raasmusud

You are asking me to choose for you.

I cannot and will not do that, not today, not ever.

I am willing when the opportunity allows to share what I do and what I see.

How you deduce and interpret that is up to you and should ever you have any questions or seek clarification then I am willling to elaborate if possible.

I am sure we do not trade the same way, have the same targets, utilise the same balance and margins. I know nothing of your situation at all nor do I wish to know. In short, if you do not know which way to trade then the choice is to wait until you do.

Colly
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First chart I'm putting up, commentary encouraged. Thanks

Buy around ~1.2135-45 (38.2%)

Put stop around 61% (1.2036)

I personally have a limit at 1.2089 to close out 100 pips....we'll see if that one hits at all.

Originally Posted by Tommy

First chart I'm putting up, commentary encouraged. Thanks

Buy around ~1.2135-45 (38.2%)

Put stop around 61% (1.2036)

I personally have a limit at 1.2089 to close out 100 pips....we'll see if that one hits at all.

Hello Tommy,

well done on working out how to post a chart.

are those figures right for the trade... if so it must have been sold much sooner yes?

Originally Posted by Colly

Hello Tommy,

well done on working out how to post a chart.

are those figures right for the trade... if so it must have been sold much sooner yes?

Hey Colly,

Thanks. Yeah, I forgot to put in that I have a short position from 1.2289 where Sean mentioned the wedge potential and I've been riding it since. So I set up a limit at 1.2189 to pick up 100 pips. My entry and stop suggestions were for those who wanted to get back into a long position

Originally Posted by Tommy

Hey Colly,

Thanks. Yeah, I forgot to put in that I have a short position from 1.2289 where Sean mentioned the wedge potential and I've been riding it since. So I set up a limit at 1.2189 to pick up 100 pips. My entry and stop suggestions were for those who wanted to get back into a long position

Aha, target just shifted north 100 pips lol

well that sounds better anyway. I hope You're right for I am invested in the outcome

Originally Posted by Colly

Aha, target just shifted north 100 pips lol

well that sounds better anyway. I hope You're right for I am invested in the outcome

Thanks, we shall see!

The reason I'm feeling pretty good about that entry is that it's a fib retracement, TL support, and a healthy support line before it finally broke thru on june 4th. It may not have a long term rally if the euro does retrace to that point, but i'd be willing to bet that it'd have a few blue bars after

Originally Posted by Tommy

First chart I'm putting up, commentary encouraged. Thanks

Buy around ~1.2135-45 (38.2%)

Put stop around 61% (1.2036)

I personally have a limit at 1.2089 to close out 100 pips....we'll see if that one hits at all.

Interesting, below 2200 it should slide to 2165 region.
I have attached 2 hrs charts as i think it is showing a much clearer picture..
However i agree 2135 is a better mark to take longs but only if it provoke bounce with tight stops in my case.... there could be a failure at 2165 and that for me is to take profit and try shorts closing the gaps...

GL...