Trading the JPY crosses using S and R

for GU, as for todat, the pivot is at 1.9822...first resistance / support at 1.9885...it has been broken now but not yet a clear break...

good bounce by gj from its support...thats the power of price action and S and R...:-))...

so now we are back to where we started off...

market has turned a bit choppy now...

cadjpy looking weak and gu looking quite strong for more rise...

hi Karthik. do you also watch the Nikkei and or the FTSE? How about fundamentals like tomorrow's interest rate announcement?

i feel that market would continue to range between 100-150 pips (for GJ) until the rate statement from Japan releases...

i just have a high level look at the nikkei, dow etc to see how they r doing...as for tomorrow rate statement, i feel that they would hold the rates as such which should be good for the market and we might see a spurt updwards after that...i may be wrong though..:-))..

as said, cadjpy has dropped 30 pips like a rock...nice day today for trading...:-))...

Hey Karthik 229.14 A Good Price To Short Gu?

well tough to hazard a guess now as the market is choppy....i feel overall the market should go up...so may not be a good idea to short....

Karthik

Do you have any idea where one can get some good free charting for the Dow? I would like to follow this and other indices however have not found any good free charting yet.

well, i am sorry ...i cant help u on that...i rarely follow the indices so closely...

Where do you follow the DOW?

I Shorted Gj At 229 Hope It Comes Down 40 Pips Already 30 Pips Down

i just follow the dow at a high level at yahoo...all the bst fdor ur trade sujal...

Just Closed My Position In 25 Pips Its Fine For Me Anywayz Im Signing Off Cu 2morow On This Same Thread Eh Karthik

nice range trading so far within 60 pips as far as gj is concerned....gbpcjf has good support at 2.3989....ej at 155.37 and uj at 114.92...i think the crosses have had a good rest and i feel they might make a move within 3-4 hrs...and i am going to stick my neck out and say that it is going to be on the long side...

cool bk...thanks for the visit...

risk trade...long gbpchf with 20 pips sl....