Thread: GBP and JPY Pairs H1 2013

There's a fight going on around this 1.3800 area.
I just switched over to a demo account I'm running using the MT4 platform, and the market watch tick chart is blazing along like an EKG. Must be a lot of volume to cause this activity? Just saying!

Originally Posted by JimboFX

Trying to post as fast as I can. Long setup with 1:1 r/r at least. Entry and stop on the chart.

Failed. Loss 19 pips.

there is no such thing as traps bull or bear... simply put its price action ...stops being triggered long and short. Resistance and supports range trading

Originally Posted by Berti99

No doubt, now is the time when the big boys set traps for the small traders like us, look at the equity markets. Something is brewing.

there is no such thing as traps bull or bear... simply put its price action ...stops being triggered long and short. Resistance and supports range trading

While anything above 38 is "too high" for me, and been talking all these time against the trend followers, and I didn't do a single long (yes, not even scalps), this particular range between 3709 and 3800 is where the fighting begins again.

Very interesting place to fight it out

Are you bull or bear now? Difficult question. Shorting may happen to be shorting at the low now ...

Looks like time to scalp long and short again!!!

Attachment 83083

Originally Posted by Paul Chin

While anything above 38 is "too high" for me, and been talking all these time against the trend followers, and I didn't do a single long (yes, not even scalps), this particular range between 3709 and 3800 is where the fighting begins again.

Very interesting place to fight it out

Are you bull or bear now? Difficult question. Shorting may happen to be shorting at the low now ...

Looks like time to scalp long and short again!!!

Attachment 83083

ermm, you said you dont place longs? so am i to presume from this post that you are shorting then?

Originally Posted by cw1

ermm, you said you dont place longs? so am i to presume from this post that you are shorting then?

You mean scalp? Oh yes, closed 2 short positions for 40 pips. Still holding one at 3822. +5 stop loss
No long term position though

Originally Posted by JimboFX

Trying to post as fast as I can. Long setup with 1:1 r/r at least. Entry and stop on the chart.

Just a tad early, my last 5th is complete I think.

Originally Posted by cw1

there is no such thing as traps bull or bear... simply put its price action ...stops being triggered long and short. Resistance and supports range trading

Yes, I was talking about Mr. Price Action. I saw some of these people in China, Saudi Arabia and at Goldman Sachs.

daily..attention to blue uptrendline..

Originally Posted by cw1

ermm, you said you dont place longs? so am i to presume from this post that you are shorting then?

Stop loss triggered But won't be shorting again so soon. Tomorrow will be another good shorting day if price at 38+ for me

but if price manage to drop below 3750 before tomorrow US morning session. I'll consider long

What about you, sir? Still doing the hedging long and short stuff?

Goodnight!

Originally Posted by KUTERO

daily..attention to blue uptrendline..

Your system is awesome!!!!!!!!!

Update....... MT channel broken by ST channel. LT still in tact.

Originally Posted by NHAppraiser

I'm not trying to brag by re-posting these.
I just wanted to re-post in hopes that people saw these and actually kept it in theirs minds when making long trades.
We are all here to help each other make some money and also to help each other keep from loosing too much money.
I have, and will, continue to learn a lot from others on this forum and I hope that I will be able to contribute positively to this forum more in the future.

BTW, I am STILL short.

Great job!!!!!!!!!!!! You the Man.

Thank you AyoBro,

4H

Originally Posted by cw1

there is no such thing as traps bull or bear... simply put its price action ...stops being triggered long and short. Resistance and supports range trading

Bear/Bull Traps don't refer to shadowy entities lurking in the darkened confines of a secret HFT/Algo lair scheming to separate the little guy from his account. It's just a term to describe the price action. Just as ID(Inside Day), OD(Outside Day), KOD(Kiss of Death), ODR(One day Reversal), CFH (Betcha don't know that one!....Candle From Hell), Coiling, C-n-H(Cup and Handle), H-n-S(Head and Shoulders), Channeling and on and on all describe certain price action and conditions.

As a side note, HFT's/Algos are a sore point with me. Use to be when trading we were trading mainly against other people. It was good back then. Patterns filled and completed targets like clockwork. Waves were clean and it was pretty easy. Then it started to change, slowly at first but then like a bursting dam the onrush of the algos in the late 90's changed the landscape. At least for me it did.

We no longer trade against the Big Boys, but now trade against their algos. Algos are stupid. There is no silicon match for the human mind. Algos are only as smart as the lines of programming that make their decision matrix. There is no amount of additional coding that can approach the deductive abilities of a human. If the p/a is not channeling or reaching for a pivot point it seems the programs are lost and confused. Their erratic nature at times makes for some awful whipsaws. Given the changed landscape I trade much less often than the days of yore. Only taking what appears to be the highest probability of trades.

Sometimes less is more. Like I tell my son on a constant basis--If you want to go faster, you need to slow down. I'm heeding my own advice on that one.

Not that anybody cares but I'm a little tired of being kicked around. If I'd had the intestinal fortitude (Guts), I coulda been a Contenda! I will not settle for 25 or 30 pips this time.
Anyway, I'm short at 1.3833 since about 9:45 this morning. I could already have pulled 40 pips from this position, but I'm tired of letting all those pips get away.
My stop is all the way back at 1.39 and I'm looking for a 100 pips. Either a Hero or down in flames. I gotta find a way to get more excitement in my life. lol [/FONT]