Since USD/JPY seems to be asleep it's clearly GBP/USD pushing the Dragon. Possible setup...
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Dislikedjust watching this 15M and 5M on GBP/JPY waiting to see if price breaks below the AL on the 15M, or maybe another bounce off the DZ on the 5M........Ignored
DislikedHi Islander,
I've been reviewing the various trades in the thread and trying to understand your entry rules a bit better. You said earlier on (post 265) you usually enter at exit from the DZ. In this (post 272) it looks as if you didn't take the indicated long based on exit from DZ at 213.50 after bounce of the 50% but took the short only based on break of the AL at ~213.15.
In what instances do you trade from DZ exit, and which do you look for break of AL?
Thanks for the great thread .Ignored
DislikedHi Pip - and I was thinking that you'd be taking a vacation over your long weekend - guess you cant resist chasing a few more pips!!
I'm waiting to see what the Brits want to do at LO.....the sell in cable was a nice entry... http://www.forexfactory.com/images/icons/icon12.gifIgnored
DislikedGM Issy,
We'll vacation next weekend after the crowds are gone from the ski areas.
Once again, I see that after I went to bed early on Friday morning, as ususal the big short opportunity came along so I had to make sure I got some of the London session today since there will be no NY session.Ignored
DislikedHi Islander,
mate from where you have your fib drawn on this UJ chart u posted last? Thanks again for the answers ))Ignored
DislikedShandy,
Looking at your chart the first thing I notice is that your fib range is only 65 pips.
look at the fib range posts for that day (Feb 13) compared to your fib range on your chart.
http://www.forexfactory.com/showpost...&postcount=106
http://www.forexfactory.com/showpost...&postcount=107
http://www.forexfactory.com/showpost...&postcount=108
http://www.forexfactory.com/showpost...&postcount=110
on the 5M you want to have at least a 80-85 pip minimum range to work with. I try to look for a high/low range between NY close and Frankfurt open that fits these guidelines. Sometimes we may have to wait for a swing to be completed in Frankie/London before being able to set up a fib range, it just depends.
Very rarely do I try to trade during the Asian session unless there is some real action going on. I'll have my charts open but I wont do anything but look at them until it gets closer to Frankfurt/London time.Ignored
DislikedThanks for the reply Pipman. I realise the swings should ideally be minimum 80 pips but I was referring to the query JaG had about the spikes out of the AL and my observations about managing these, the example I used being the fib range he was referring to in his postIgnored