Well, I hope u all guys rode this wonderful trend. My approach was as Al_Have stated: rather than enter blindly at 24 GMT, I preferred to enter at a Fib retracement, mostly at 50% and moved my stops below the 24 MA (special thanx to Al_have too). Didnt put any reverse position until now, because doing some easy analysis on USD JPY and GBP USD my guess is that they will continue moving higher, which will send GBP JPY at 248 at least.
Here is my summary:
Friday 15 - entered at breakout at 242.50 (I was already long before that breakout, as I stated in some previous posts, but this is different);
Monday 18 - Moved my stop for the Friday position at 244, below 24 MA, while entering another long at 244.50 (an approximate fib 50 retrace) with stop at 244 as well.
Tuesday 19 - Didnt enter a new position; my buy order is at 245 - another 50 Fib, stop 244.50 for all the opened positions since Friday.
So now I have locked in Im up 200 + BE for Monday position + swap. Currently Im 280+80 = 360 at current price, 245.30.
My opinion is that this trend will continue, inspite of all the reversal danger every1 is talking about. Of course we will see some bigger retracements, but on GY I will prefer to buy rather than sell.
Besides, EY provided even greater profits, for those who rode it since 163. it keeps in hitting all time new highs.
Here is my summary:
Friday 15 - entered at breakout at 242.50 (I was already long before that breakout, as I stated in some previous posts, but this is different);
Monday 18 - Moved my stop for the Friday position at 244, below 24 MA, while entering another long at 244.50 (an approximate fib 50 retrace) with stop at 244 as well.
Tuesday 19 - Didnt enter a new position; my buy order is at 245 - another 50 Fib, stop 244.50 for all the opened positions since Friday.
So now I have locked in Im up 200 + BE for Monday position + swap. Currently Im 280+80 = 360 at current price, 245.30.
My opinion is that this trend will continue, inspite of all the reversal danger every1 is talking about. Of course we will see some bigger retracements, but on GY I will prefer to buy rather than sell.
Besides, EY provided even greater profits, for those who rode it since 163. it keeps in hitting all time new highs.
We leave no soldier behind.