Thread: GBP and JPY Pairs H1 2013

good morning fellow traders,

the close under 1.2441 is calling for 1.2401, to me pull back towards 2450/55 is good for entering shorts

use leverage wisely traders!

Originally Posted by sake

can you beileve that i forgot to remove t/p @1,24500 when i put it last night.
On the other hand there was another order that i put last night a sell order from 1,25250 but it couldn't reach that level. I missed that opportunity with 5 or 10 pips But i gain %6,72 of my current balance but i have already lost %54 of my balance. So at the end i am still -%44.72 but i am working on it, i beileve that i will have all of my loses back like next week friday.

I wanna ask something is it too much to have a target like +10% for everyday? This is what i am trying to do recent days.

its ok if its money you are happy and quite comfortable to lose (micro or previous winnings) - definately not ok for hard earnt savings or the motgage/rent and food money

How about a before and after

before


after

As a part of the fifth wave, I think we are going to retest the 1,2300 area to make a doble bottom pattern before the european summit let the reverse go foward the 1,2570-1,2630 area.

Same pattern for the Jpy pairs, as they are in a strong downtrend. It´s easier to reverse the market with a complete wave in EW counts that in fibbonacci retracements from the actual situation.

Expecting a spike from the news of the european meeting to take a short position.

Originally Posted by sake

can you beileve that i forgot to remove t/p @1,24500 when i put it last night.
On the other hand there was another order that i put last night a sell order from 1,25250 but it couldn't reach that level. I missed that opportunity with 5 or 10 pips But i gain %6,72 of my current balance but i have already lost %54 of my balance. So at the end i am still -%44.72 but i am working on it, i beileve that i will have all of my loses back like next week friday.

I wanna ask something is it too much to have a target like +10% for everyday? This is what i am trying to do recent days.

Well done I am glad you have won some of your account back. You need to be careful with leverage 10% per day is very high in my view. Take a look what would have happened to your account if the spike had gone the other way and both your shorts had hit stops overnight it will happen sooner or later that's how Alejandro decides to reverse. Good luck with your trades.

Originally Posted by biggari

its ok if its money you are happy and quite comfortable to lose (micro or previous winnings) - definately not ok for hard earnt savings or the motgage/rent and food money

thanks for your opinion. i'm not playing with big money but i have a belief that i can multiply 50 that money.

I have been interesting and following markets and economy for the last year. than i meet with a demo account so i decide to test myself. i made quick amazing things like i made 100k$ to 52m$ in a night than i really bored and left it. And i continued again from 52m$ and made it 120m$ in 3 days. Total time duration was approximately 1 month. Than i said why not in real market.

i started with approximately 500$ on 16 of june which is not a good time to start now i am trying to take my losses back than.

But i can say that, it's not that easy to trade with 500$. It would be a lot easier if would have 100k$ or at least 10k$.

this post some kind of irrevelant with the aim of this forum but i just wanna participate.

By the way i'am playing with 0.05 or less lots is it too small for a few hundreds $.

Originally Posted by sake

thanks for your opinion. i'm not playing with big money but i have a belief that i can multiply 50 that money.

I have been interesting and following markets and economy for the last year. than i meet with a demo account so i decide to test myself. i made quick amazing things like i made 100k$ to 52m$ in a night than i really bored and left it. And i continued again from 52m$ and made it 120m$ in 3 days. Total time duration was approximately 1 month. Than i said why not in real market.

i started with approximately 500$ on 16 of june which is not a good time to start now i am trying to take my losses back than.

But i can say that, it's not that easy to trade with 500$. It would be a lot easier if would have 100k$ or at least 10k$.

this post some kind of irrevelant with the aim of this forum but i just wanna participate.

By the way i'am playing with 0.05 or less lots is it too small for a few hundreds $.

demo easy because no phsycological influence - you lose 25k on demo its easy to get back - lose 25k real money and chances are your head is done - no reset button

lots of small lot wins = lots of compound growth = long term trader

edit: just making my spelling slightly less terrible

Originally Posted by sake

thanks for your opinion. i'm not playing with big money but i have a belief that i can multiply 50 that money.

I have been interesting and following markets and economy for the last year. than i meet with a demo account so i decide to test myself. i made quick amazing things like i made 100k$ to 52m$ in a night than i really bored and left it. And i continued again from 52m$ and made it 120m$ in 3 days. Total time duration was approximately 1 month. Than i said why not in real market.

i started with approximately 500$ on 16 of june which is not a good time to start now i am trying to take my losses back than.

But i can say that, it's not that easy to trade with 500$. It would be a lot easier if would have 100k$ or at least 10k$.

this post some kind of irrevelant with the aim of this forum but i just wanna participate.

By the way i'am playing with 0.05 or less lots is it too small for a few hundreds $.

Hi Sake - you made 52 million dollars from 100 thousand?

Can you pass me some of your Sake?

Originally Posted by Miguel

As a part of the fifth wave, I think we are going to retest the 1,2300 area to make a doble bottom pattern before the european summit let the reverse go foward the 1,2570-1,2630 area.

Same pattern for the Jpy pairs, as they are in a strong downtrend. It´s easier to reverse the market with a complete wave in EW counts that in fibbonacci retracements from the actual situation.

Expecting a spike from the news of the european meeting to take a short position.

Could you show with a diagram? Also, i suppose the euro meeting news is going to be positive and thus push the euro up? Anyone else thinks so too?

Originally Posted by wanrizal

Could you show with a diagram? Also, i suppose the euro meeting news is going to be positive and thus push the euro up? Anyone else thinks so too?

Yes, I think there's a big shock on the way for all the bears, it's done me no good at all this week but I see the Dollar Index trapped below the 20 Day sma and the Euro testing the bottom of it's range. The Euro was bullish last night for the first time in a week but was slapped back down by headlines. Any good news now could start a bounce back above 1.2600 and from there who knows may be the 200 Day.

Watch These Short Quickstart Videos to Learn How to Use the DailyFX Forums! Be Part of the Conversation!

Quickstart Video #1 DailyFX Forum Introduction


DailyFX Forum Quickstart Video 2: How to Register Video 2 of 5


Daily FX Forum Userguide Video 3: How to Post Text 3 of 5



DailyFX Forum Quickstart Video #4 : Posting an Image


Quickstart Video #5: Subscribing to a Thread--- Video 5 of 5

Hi Alejandro, Does this take into consideration of the euro meeting later?

Originally Posted by Alejandro Zambrano

EUR/USD June 28 - 2012


EUR/USD finally trades under 1.2450 and therefore opens up for a further decline to 1.23 and possibly 1.20 over the next weeks.

Right now price is a bit oversold but could continue lower and reach 1.2385 and 1.2350 as we have been trading sideways for a few days. Low volatility periods tend to be followed by explosive moves when price finally decides to breakout.

Corrections to the 1.2450 area will be seen as an opportunity to sell by investors and this trend will be bearish until we breakout above the 1.2530 high.


If you have any questions about this scenario or anything else trading related feel free to write to me here on the forum.

Feel free to join me today at 10:30 GMT (11:30 UK time) for a free FX, stock and commodity market webinar at www.dailyfx.com/bvb
Send an e-mail to azambrano@fxcm.com to sign up to my distribution list.

EUR/USD 60 min chart


Click here to view a recording which introduces you to my trading system


Market Strategist | DailyFX London
azambrano@fxcm.com

Follow me on twitter: https://twitter.com/AlejandroDFX


*Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join today.

Originally Posted by Gregory McLeod

Watch These Short Quickstart Videos to Learn How to Use the DailyFX Forums! Be Part of the Conversation!

Quickstart Video #1 DailyFX Forum Introduction


DailyFX Forum Quickstart Video 2: How to Register Video 2 of 5


Daily FX Forum Userguide Video 3: How to Post Text 3 of 5



DailyFX Forum Quickstart Video #4 : Posting an Image


Quickstart Video #5: Subscribing to a Thread--- Video 5 of 5

Hey Gregory, I got lucky this morning closed my long as the 15m MACD turned down, I was thinking about a short but felt it would be better to let the MACD turn negative never mind at least I got out with 8 pips. How did you do ?

Originally Posted by Foxy1

Hey Gregory, I got lucky this morning closed my long as the 15m MACD turned down, I was thinking about a short but felt it would be better to let the MACD turn negative never mind at least I got out with 8 pips. How did you do ?

I was able to get out with a slim profit as well. NZD/USD and AUD/USD did a bit better. Euro was short of my 1.2533 target. But it is a relief to be out of it!

Originally Posted by Gregory McLeod

I was able to get out with a slim profit as well. NZD/USD and AUD/USD did a bit better. Euro was short of my 1.2533 target. But it is a relief to be out of it!

Yep it feels good to be lucky