Hakuna's pip stash

bro-- i foolow my system without discretion--if i see xit sign-- i get out

thats how ive been so succesful till now

back in again--now aim for 35-70 pips

I have reenter the trade , best of luck to both of us.

S 237.23

all out 45

Hakuna,

May I ask which specific broker you're with buddy?

now im pissed off-- i need to go cool off

ive got a 15min rev signal---im just staying out


this will make new highs now

my ecn broker is dukascopy and ive got few MM's

GBP Nationwide housing prices well above expectations.

current 1.1% expected 0.2% last 0.7%

News was released 10 minutes ago, and GBPUSD shot up, taking GJ with it.
However, it's backing off some now, so we'll see what happens from here.

did u see why i exited guys !

the only thing is i didnt reverse postion as i was leaving surgery to drive back home
that was another 40 - 70pips trade just there---just not a good start tomy week !

this is the RULE i talk about everytime---if i see a reversal-- I EXIT--NO DISCRETION--minimise losses and try maximise profits

this could go higher then daily 100sma which i have at 238.85 and the Upper weekly/daily TL at 239.30ish

g/u has made new 26 yr highs

Hi HM,

FYI, I took that short trade too and a loss. I thought we were beginning
a downward trend. Oh well.

Post mortem analysis:

The low at 236.96 would have been a great Buy as it turns out. But could that have been predicted? Factors were:

* Every 100 division on GJ has potential to act as support, at least the first time it tests the level. We had seen a good bounce for 237.03 which is close, and often "discharges" the bounce energy, but obviously not this time. Still 30-40 is typical.

* Simultaneously, the UJ pair bounced of an H1 100ema. 100 MA's (sma or ema) on H1 charts (and H4 and others) are often significant. UJ correlates with GJ and UJ helped drag GJ up.

* GU had just broken above a previous high of 2.0703 and then it backed off in a retrace. This COULD have been a sign of a GU peak, lending credence to GJ shorts, but it also removed the cap, so to speak, for the next push upwards. (GU is charging upwards since the GBP news, therefore, so is GJ). Some analysis sites, like http://pfxglobal.com have been watching for a GU breakout upwards to new highs. Shorts of GJ would merit caution.

* The GJ M15 chart bounced off the 100ema and 100sma (approximately the same as M30 50ema/50sma as well). This was strong support.

* Overall, GJ has closed above the H4 100sma. Sometimes it waffles, crossing back and forth and on the 3rd crossing, it may stick. Perhaps this was a clean single crossing upwards. (Yes it is approaching the Daily 100sma too. Watch out for resistance though...)


Hence, taking a short position (as we did) just prior to, or after GJ hit such strong support, perhaps we should have expected a big bounce of 30-60 pips, and not gone short.

With the news, it has shot up 95 from the low as of this moment.


Live and learn,
Pips4life

a good place to buy g/j would be btw 55-70

nicely put bro
glad to see you posting some good analysis-- well appreciated !

and as a side not to everyone: even if u take a loss---make sure its minimal--dont hang on to trades against the tREND

hakuna, any updates on your trades?

WOW-- this has flown--- i was watchin Tv , had some dinner--come back to comp and this alomost HIT 100sma daily

WOW-- missed it again!

any analysis for the current situation HM?

ive already discussed it!! please read prev posts b4 asking questions

i personally am staying out !