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Breeze....Update on GBP/JPY

  • #1,301
  • Feb 4, 2008 6:48am Feb 4, 2008 6:48am
Quoting Breeze
Note i will hedge all @ 210.00.....until further Notice....and i might
hello people I'm still hedged @ 210.00.....
  • #1,302
  • Feb 4, 2008 6:50am Feb 4, 2008 6:50am
Quoting TrevA
I recommend that if you haven't done so already, switch to the daily chart, zoom right out and look at the trend.

We have two outcomes at this point:

1. We are in a rally which means look for more downside action.
2. This is a change of trend in which case we should wait for more upside trend confirmation.

Have the fundamentals for the GBP really changed? Do we have a change of trend? What will happen when the interest rate statement is released later this week?

I must admit that this year has been very difficult for me to trade and current market conditions have reminded me of a natural phenomenon. Has anybody been at the mouth of a river just as the tide is changing? The water swirls around rather than flowing. Some of the water runs upstream while some flows downstream, then after a short time, the river gives into the gravity of the moon and starts flowing smoothly again.... that is until the next lunar event.

Everything fundamentally all screwed up at the moment. Up is down, left is right, gravity is reversed so I'm sitting on the side lines until things start to settle down.

I have a sell stop order at 208.60 just in case the price turns and breaks below Fridays low... This would be a clear indication that the market is taking GBP/JPY much lower.

Just be careful trying to predict the market at the moment. It is more dangerous than ever before.

Good luck.
TrevA
Correct my friend thats how I see it too......confusing.
  • #1,303
  • Feb 4, 2008 7:01am Feb 4, 2008 7:01am
I see a 214.00 as a possibility.....
  • #1,304
  • Feb 4, 2008 7:57am Feb 4, 2008 7:57am
  •  4x_Trader
  • Joined Dec 2006 | Status: Is the market a FRIENDLY place to U | 639 Posts | Online Now
Quoting Breeze
I see a 214.00 as a possibility.....
I second the motion a break of that will unlock 216-217 all the way to 220 this month only a close below 208 will change my view!
  • #1,305
  • Feb 4, 2008 9:51am Feb 4, 2008 9:51am
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Quoting 4x_Trader
I second the motion a break of that will unlock 216-217 all the way to 220 this month only a close below 208 will change my view!

I love what drives this market.... we all have different views.
  • #1,306
  • Feb 6, 2008 12:08am Feb 6, 2008 12:08am
Quoting Breeze
hello people I'm still hedged @ 210.00.....
Hello all I have now unhedged @ 211.65

added long @ 209.05
  • #1,307
  • Edited 12:13am Feb 6, 2008 12:12am | Edited 12:13am
short @

209.10...............active
209.35...............active
208.50 X 10........active
208.10 X 10........active
209.22 X 10........active

Hedged all shorts @ 209.05......

long @

209.05..............active
  • #1,308
  • Feb 6, 2008 12:19am Feb 6, 2008 12:19am
Quoting 4x_Trader
I second the motion a break of that will unlock 216-217 all the way to 220 this month only a close below 208 will change my view!
207+ has held very well....now it has made a temp bot....a break above 212.00 again is needed to continue.....looks as if Bushes stimulis package working very well....but its for a short term only...long term the trend is down.
  • #1,309
  • Feb 6, 2008 12:31am Feb 6, 2008 12:31am
short @

209.10...............active
209.35...............active
208.50 X 10........active
208.10 X 10........active
209.22 X 10........active

Hedged all shorts @ 209.05......

long @

209.05..............active
209.10..............active
  • #1,310
  • Feb 6, 2008 12:35am Feb 6, 2008 12:35am
nice to see Breeze in the same boat as mine.......now i'm long & hope can go up to 211......
  • #1,311
  • Feb 6, 2008 12:49am Feb 6, 2008 12:49am
Quoting peekaboo
nice to see Breeze in the same boat as mine.......now i'm long & hope can go up to 211......
you can lockin some profits along the way towrds 214.00 and beyond.....and the Interest will be good too.
  • #1,312
  • Feb 6, 2008 12:51am Feb 6, 2008 12:51am
Quoting Breeze
you can lockin some profits along the way towrds 214.00 and beyond.....and the Interest will be good too.
I agree, I'm in the same boat
Trade what you see, not what you think.
  • #1,313
  • Feb 6, 2008 12:57am Feb 6, 2008 12:57am
Quoting karmostaji
I agree, I'm in the same boat
yep.....up and away we go.....I'll add some long positions along the way....depending on the pullback.....this is going to be quick bucks in my pockets.
  • #1,314
  • Feb 6, 2008 1:02am Feb 6, 2008 1:02am
Quoting karmostaji
I agree, I'm in the same boat
karmo boy , wer u all these while ? good luck to u n breeze
To Live is the rarest thing in the world , Most people exist , that is all
  • #1,315
  • Feb 6, 2008 1:10am Feb 6, 2008 1:10am
Quoting maheswara
karmo boy , wer u all these while ? good luck to u n breeze
he must be in a private room somewhere.....and thanx by the way.....i have to make a few thousands here...by these week...very confident with these trades.
  • #1,316
  • Edited 1:56am Feb 6, 2008 1:56am | Edited 1:56am
short @

209.10...............active..............Closed @ 208.00
209.35...............active..............Closed @ 208.00
208.50 X 10........active..............Closed @ 208.00
208.10 X 10........active..............Closed @ 208.00
209.22 X 10........active..............Closed @ 208.00


long @

209.05...................active
209.10...................active
209.05 X 32............active
208.00...................active
  • #1,317
  • Feb 6, 2008 1:58am Feb 6, 2008 1:58am
Note that "SHORTS" closed @ 208.00.....now I'll have more margin and "Profits" if the market continues to go "UP"
  • #1,318
  • Feb 6, 2008 2:02am Feb 6, 2008 2:02am
Phewwww what a rollercoaster......

214.00 here we come....consolidation over now....and "UP" we go.
  • #1,319
  • Feb 6, 2008 3:43am Feb 6, 2008 3:43am
oh no.....its going down dude......hope it'll find the lowest point for today....
  • #1,320
  • Feb 6, 2008 4:58am Feb 6, 2008 4:58am
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Quoting Breeze
short @

long @

209.05...................active
209.10...................active
209.05 X 32............active
208.00...................active

You need to have gonads the size of coconuts to go long in GBPJPY at the moment!!! I call it low odds trading!

Could we see a retest of 204.50 sometime soon?

TrevA
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