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bo7a method... method for GBP/JPY 205 replies
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Quoting TragapipsDislikedHi
What do you think about EUR/JPY?
I think this one has posibilities. It has no signal on 4H but it has on 1 Hour.
TIAIgnored
Quoting ForexMikeDislikedI agree..there may be an opportunity for a sell and something to keep an eye on. The price is currently resting on the 8SMA on the 4-H chart. Let see if it can break through...Ignored
Quoting TragapipsDislikedHi
What do you think about EUR/JPY?
I think this one has posibilities. It has no signal on 4H but it has on 1 Hour.
TIAIgnored
Quoting eurusdtraderDislikedI just saw now that you sold, if you see the attached chart again, you can see that still price is above 8SMA, this is aggressive and any close below 8SMA is a confirmation of downside. If you look you can see that you will lose 20-30 pips if choose sell below white line rather than selling aggressively. BTW Part IV that will be published this weekend will enlighten this set-up.
In case that you use other additional indications that give the weight to one side, then I recommend using limit orders because they get the top and dips very excellent and need few pips of stops. Moreover in case of reversing you can get out with few pips or even break-even, Buy I think you know how you should be kin to estimate the reversal zone.
Good trading,
IboIgnored
Quoting TragapipsDislikedPlease. Tell me about this one.
Gbp/Jpy. I see a big ascending triangle. Price hit resistance 3 times and right now price is consolidating above a support line. We have a sell signal.
So this is what I think: A buy order above R1 @ 211.20 and/or a sell order below S1 @ 220.00. Some comments please.Ignored
Quoting eurusdtraderDislikedAlthough we have a reversal from a decent trend but the potential supports are so close to eachother,in case of a sel-off market the 61.8% that is 55SMA here will be the first target and you should regard the support trend line that is for a major trend, so I recommend close watching to trail your stop ASAP to break-even and close the position if you see any reversal candle bouncing form a support. But if you think that this is a pair that its candles are overlapping ones, you are right, in the run of a trend you can see that the price will retrace to white line, this is the time that you can enter short. BUT when price reached yellow line or support it is a better case because it is indicating a major trend signal and you have more chance to be a winner.
NEVER forget the relations among the diverse pairs, EUR is like GBP so GBPJPY will be so similar to EURJPY, meaning that you can see EURJPY condition and if you don't see any supporting for that and market for EURJPY is sell-off this means that you have a good chance to sell rather than buy.
Best,
IboIgnored
Quoting iboersmaDislikedFantastic. I just lost 50 pips on the GBP/JPY when it turned tail and headed north and took out my stop.
Note to self - use wider stops...
- IanIgnored
Quoting forextrader81Dislikedi am new to forex. I have a question about weekly pivot points on your chart. Do they update automatically or do we have to update those manualy? Is there a place where i can see weekly pivots points instead of calculating those?Ignored