Forex Factory (https://www.forexfactory.com/forum.php)
-   Trading Systems (https://www.forexfactory.com/forumdisplay.php?f=71)
-   -   GBP/JPY Equity Building Profitable trading strategies (https://www.forexfactory.com/showthread.php?t=95029)

rmrf Jul 7, 2008 5:08pm | Post# 1

GBP/JPY Equity Building Profitable trading strategies
 
http://forexfactory.com/images/misc/paperclip.gifGBP/JPY Equity Building Profitable trading strategies

BP seems to be down for now. I don't know who all is here.
211.72 seems to be significant, if we can hold above this level and so far we are staying right above it, we should be able to get another leg up.

Overnight I again am not expecting any big moves down.
And last nights levels probably hold tonight, I posted a 12M chart
in the old thread. We are breaking below 211.72 now anywhere is a great place to get long 211.50 211.40 211.30 211.20/00, however cheap you can get them the better I think. I expect to easily break above 212.50 before week end and expect 212.50 to hold as support.

rmrf Jul 7, 2008 6:00pm | Post# 2

Get long here at 211.70, a bottom
 
It should be good for a ride up to 212.50 where it will bounce off and everyone will go short, but it could break 212.50 then lookout.

rmrf Jul 7, 2008 6:03pm | Post# 3

the 6M chart GJ
 
1 Attachment(s)
study the chart, look at it for a long time, it looks to me like she is heading back up for a bit from here.
Click to Enlarge

Name: GJ6M.JPG
Size: 231 KB

rmrf Jul 7, 2008 6:08pm | Post# 4

It will be interesting to see what Asia brings
 
But we may not see much wide movements until the GErmans stat trading at 1am EDT. I'll hang out ofr a bit but if its slow I am getting some rest before
frankfurt & london open.

rmrf Jul 7, 2008 6:18pm | Post# 5

and the 12M GJ
 
1 Attachment(s)
This is a great place to get long. It is turning up here any minute.
Click to Enlarge

Name: GJ12MIN.JPG
Size: 236 KB

rmrf Jul 7, 2008 6:20pm | Post# 6

ST trend line support at 211.40
 
That would be another good place to get some more long

rmrf Jul 7, 2008 6:31pm | Post# 7

GJ is now paying 6 cents interest on a 1K lot
 
So I am ok with holding them and collecting interest for a bit until they hit my tp targets. I still have not really set any higher targets than 21-31 pips.
I am a scalper and whatever I am holding at the end of the day is OK because I am only long GJ never short.

hndymann Jul 7, 2008 6:43pm | Post# 8

Elijah is back?

rmrf Jul 7, 2008 6:58pm | Post# 9

I am Elijah
 
How did you know it was me?

nevermind!

Elijah is back?

rmrf Jul 7, 2008 6:59pm | Post# 10

And dont tell me my photo gave me away!
 
That is a dog not an alpaca!

As in goochland bulldogs, but I stole that dog from my friend, I think he used to go to a HS that had that has their team mascott.

Elijah is back?

hndymann Jul 7, 2008 7:03pm | Post# 11

That is a dog not an alpaca!

As in goochland bulldogs, but I stole that dog from my friend, I think he used to go to a HS that had that has their team mascott.
lol, welcome back sir... how have your trades been treating you? Any more blown accounts?

rmrf Jul 7, 2008 7:40pm | Post# 12

already retreating some
 
That wasn't much of an up move. We are holding right around 211.72 that has become a popular price. I'm off.

rmrf Jul 7, 2008 7:51pm | Post# 13

nope no blowouts only profits
 
The trades have been buying us food and gas

lol, welcome back sir... how have your trades been treating you? Any more blown accounts?

rmrf Jul 7, 2008 9:21pm | Post# 14

She is there now, Trend line support
 
She seems to be holding, im getting some rest waiting for frankfurt to open

That would be another good place to get some more long

TraderStar Jul 7, 2008 10:56pm | Post# 15

Right behind you
 
Hi, I'm a different kind of star elsewhere, but it is me.

She's struggling here in the mid-211's. I thought she was on her way back up, but has dropped again .. as you would say, another chance to get more longs

rmrf Jul 8, 2008 2:11am | Post# 16

In a nice dip
 
I think here is a good spot to get some more long. London coming in now

Hi, I'm a different kind of star elsewhere, but it is me.

She's struggling here in the mid-211's. I thought she was on her way back up, but has dropped again .. as you would say, another chance to get more longs

rmrf Jul 8, 2008 2:50am | Post# 17

23.6% fib at 210.40
 
Hope you didnt scale down to close and get TMTH.
Im going to get a few more winks.

rmrf Jul 8, 2008 7:00am | Post# 18

wow that was wild
 
we are almost back to the 0 fib on the MT fibs I had. 0 is at the double bottom on july 1 at 930am EDT @ 210.01/03.

We have dropped into some down channels possibly, it looks like.
I dont see what caused all that retrace down last night.

But she is heading back up, this is what she does RUns down HARD and fast then runs back up.

I hope no one has TMTH. Patience is key. SO I caught a few more zzzz's
after putting my orders in. Sometimes when it is moving down like that the best thing to do is widely space your orders going down then go away and dont watch.

I can tell you if you wisely loaded up all the way downan decent spacing you will earn good interest and pips as she runs back up this week.

The bears had a party last night as they got ate up the night before I guess,
so they all united and got together, everyone in the "club".
But they cannot hold her down for long she has already started the climb back up.

Many times I would set my orders at frankfurt/london open, then get some more rest until 5Am or so and wake up to lots of pips and green orders.

rmrf Jul 8, 2008 8:33am | Post# 19

wow she shot back up above 211.50 already!
 
Well I m off to fix stuff today. Should have bought some at 210.20!
That was a nice 130 pips in a matter of hours.

She runs down fast and bounces back up...it is what she does!

rmrf Jul 8, 2008 8:54am | Post# 20

212.50
 
Is still my target for the week, I say we are back in the groove now.
Alll previosu levels still apply, fibs at 212.15 which we broke before and bounced off of 212.50. We will test 212.50 again very soon. I epxect to bounce off again before blowing through on the third try.

But this latest run down by the bears right out of frankfurt may have put even mopre pressure upwards and we may blow through 212.50 this time instead of bouncing off, but for now count on bouncing off again, retracing down then running back up AND BLOWING THROUGH 212.50.


© Forex Factory