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GBP/JPY

  • #2,581
  • Jun 29, 2020 9:23am Jun 29, 2020 9:23am
Quoting Ksth
{quote} That why I put buy @132 should be the bottom. Just take note area 134.3 reverse or bounce there. Hehe
Let's see mate. Goodluck. For me the price action has yet to breach Key level at 132.7xx to be bullish.
WARNING: This post warps space and time in its vicinity.
  • #2,582
  • Jun 29, 2020 9:31am Jun 29, 2020 9:31am
Quoting WizardTrade
{quote} Spike is there. Now the price may free fall from here or it may pause till tomorrow to breach support at 131.9xx. I might be wrong. Trade Safe. TW
It won't go further down. Let see 134 area this few days. Will have clear direction. I see GU bounce now at s1. . 1.2288.
  • #2,583
  • Jun 29, 2020 9:56am Jun 29, 2020 9:56am
Nice to see this thread more active.

IMHO the GBP/JPY is the best bang for the buck pair to trade. If you compare spreads with volatility this pair is the best.
In the old days (2007 or so) this pair used to be called" The Beast" and 500 pips was a normal day move.

Today with the collapse of volatility, it moves more like the EUR/USD used to move. But at 3 pips spread it will give you plenty of opportunities to make some bucks.
  • #2,584
  • Jun 29, 2020 9:59am Jun 29, 2020 9:59am
Hit my stop-loss earn a bit.. Hehe
  • #2,585
  • Jun 29, 2020 10:00am Jun 29, 2020 10:00am
Quoting WizardTrade
It can spike to 132.4xx then a deep push down in my books. I might be wrong.
Price got rejected massively from the said region. Bears are still in control. Let's see the price action in the asian session what it brings. My Key level stands at 132.7xx

Trade Safe
TW
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  • #2,586
  • Jun 29, 2020 10:01am Jun 29, 2020 10:01am
Quoting Ksth
Hit my stop-loss earn a bit.. Hehe
At-least you had backup (+ back out) plan. Good.
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  • #2,587
  • Jun 29, 2020 10:05am Jun 29, 2020 10:05am
Quoting WizardTrade
{quote} At-least you had backup (+ back out) plan. Good.
Now buy GJ again. Let it run. Hehe
  • #2,588
  • Jun 29, 2020 10:05am Jun 29, 2020 10:05am
Quoting Ksth
{quote} Now buy GJ again. Let it run. Hehe
Keep it trailing again as the bears are ruthless
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  • #2,589
  • Jun 29, 2020 10:07am Jun 29, 2020 10:07am
Quoting WizardTrade
{quote} Keep it trailing again as the bears are ruthless
Ya. U are right. Haha.
  • #2,590
  • Jun 29, 2020 10:17am Jun 29, 2020 10:17am
Yes, the bears still rule ... 131,9xx fell and it will be a ride ...
  • #2,591
  • Jun 29, 2020 10:22am Jun 29, 2020 10:22am
Quoting bob-dreamer
Yes, the bears still rule ... 131,9xx fell and it will be a ride ...
Haha .
  • #2,592
  • Jun 29, 2020 10:44am Jun 29, 2020 10:44am
I still don't dare short GJ. Unless it reject From 134.3 area . OK good luck n green pips
  • #2,593
  • Jun 29, 2020 10:53am Jun 29, 2020 10:53am
Quoting Ksth
I still don't dare short GJ. Unless it reject From 134.3 area . OK good luck n green pips
If the current Support is smoked in asian session. It might come back to this level in two weeks maybe. Always think of the contrasting view. Wish you all the best.

TW
WARNING: This post warps space and time in its vicinity.
  • #2,594
  • Jun 29, 2020 12:41pm Jun 29, 2020 12:41pm
Quoting WizardTrade
{quote} Price got rejected massively from the said region. Bears are still in control. Let's see the price action in the asian session what it brings. My Key level stands at 132.7xx Trade Safe TW
I agree with the key level, I was short this morning from the daily highs and was expecting price to break the low of 132 but it has failed and I don't like that.., I think it is going to range until London session and then break to the upside.

Anyways will have to wait and see what happens tomorrow, up or down, bag those green pips
Trade what you see, not what you think.
  • #2,595
  • Jun 29, 2020 1:17pm Jun 29, 2020 1:17pm
If 131.60 breaks than 129. Those are the targets. Meanwhile I'm selling every obvious top and covering at any decent bottom. Pair is in a range what can you do? In my case I can't give 100% attention to forex because I trade the micro /mini nasdaq where there is more volatility.
  • #2,596
  • Jun 29, 2020 1:25pm Jun 29, 2020 1:25pm
Quoting karmostaji
{quote} I agree with the key level, I was short this morning from the daily highs and was expecting price to break the low of 132 but it has failed and I don't like that.., I think it is going to range until London session and then break to the upside. Anyways will have to wait and see what happens tomorrow, up or down, bag those green pips
Price is bound to go down if it fails to breach the key level. It is doing the same as it did in the last week. 3 days of consolidation and then broken down. I might be

wrong. But I am still holding my short at +95 pips. SL is at BE +40pips. My final target at 124-125.

TW
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  • #2,597
  • Jun 29, 2020 10:49pm Jun 29, 2020 10:49pm
Free trade now. Haha
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  • #2,598
  • Jun 30, 2020 12:53am Jun 30, 2020 12:53am
Bears are not gone anywhere. 132.7xx still holds firm. Temporarily bulls can enjoy but the bears are occupying every trench at resistances so far.

TW
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  • #2,599
  • Jun 30, 2020 1:03am Jun 30, 2020 1:03am
Hit my stop-loss.. Haha. Earn some profit.
  • #2,600
  • Jun 30, 2020 1:08am Jun 30, 2020 1:08am
I see them bears winning a quick scalp.
So short
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