PearsonFX Trades

G/J is on a longterm correction, it needs to cover the gap from friday to sunday targeting 207.30 initially. But we may go higher than that.

It has formed a double bottom on the 4 hour charts indicating, that it is on its way up but because this is on the 4 hour charts this move is going to take time.

Good pips to be made though

Zack

you fairly certain about that, what does it mean cover the gap?
Tom

You see it from Friday's closing price to Sunday's opening price sometimes.

Usually (9 time out of 10 I would say), if there is a gap whether it is a difference of 10 pips to 200 pips, it will cover that distance. For example, ibfx's last price on friday was 207.15....sunday opened 206.70 a difference of 45 pips, we are looking for that distance to 207.15 to be "closed" and price to reach that

ok zack im in gone long at 204.90, target at 207.30
Tom

Great, because you entered where you did your drawdown should be very minimal if any....ranging and consolidation should take place above 205.00 if there are any major retraces or pullbacks. and if it doesn't hit today but instead tomorrow, we earn 2 pips extra for interest

Zack

Sounds great to me, gb/us moving up nicely too
Tom

I have taken 21 pip profit on gb/us, may have come out a bit early but thats the scalper in me also, the gb/us seems to stutter around the magic numbers 00, 20, 50, 80 and like you said earlier resistance at mid 90's, I like to take quick healthy profits
Tom

Hi Zack
I took 43 pips profit on gb/jp it hit 205.46 resistance area and maybe I chickened but until it gets over there I decided to bank the pips
Tom(uk)

I am SHORT on G/J now....playing the swings....back down to 205.00 if you want to join me.

Zack

Sorry was in a rush to get it in there...I am short at 205.50 and and have a take profit set for 204.90 but will be happy with 40-50 pips too.

Zack

Hi Zack
I may pass on that, you scare me ha ha.
I will take stock a bit later I think. You get some sleep
Tom(uk)

My fib says 205.18 is all you can expect at most

Zack
Big respect to you my friend, it reached the 207.50 no problem, im kicking myself now for coming out too early, any idea of target now
Tom

Morning Zack, how you today my friend
Tom

Good Tom,

What do you see on GBP/USD....I am looking at a reversal around 2.0169-2.0184. I see it down tonight but looking for the best top....R1 sits at these two points on the two indicators I have, I am biased towards 2.0169. Any thoughts?

Zack

Hi Zack, what is your thinking this morning, see any good set-ups
Tom

Gb/us looks a little bearish, slight divergence looks like it could trickle down to about 2.0040
Wots your thoughts on gb/jpy?
Tom

I am looking for Sells right about where we are at....there is a Head and shoulders pattern forming and will be complete if it turns around right about where its at....waiting for confirmation

Zack
here is my email address: [email protected]
Could you enlighten me a bit on your formula for trading gb/jpy, if you dont want to post in room could you send me via email, your results are fantastic on this pair and i would like to learn more on this if poss
very much apreciated
Tom

love your analysis on gb/jpy ha ha, im looking at the pair now
Tom