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GBPJPY scalpers

  • #2,301
  • Apr 10, 2008 5:32am Apr 10, 2008 5:32am
Quoting 13.1 Runner
Hey M, Would like to give your room a spin. Any room left?

website should be up and running by the middle of next week. I will keep you posted
Blogging daily now at www.volume.zone
  • #2,302
  • Apr 10, 2008 5:37am Apr 10, 2008 5:37am
Quoting malcolmb14
website should be up and running by the middle of next week. I will keep you posted
Thanks!!!
  • #2,303
  • Apr 10, 2008 5:53am Apr 10, 2008 5:53am
Hi,

Do you guys see GbpJpy going any lower.
  • #2,304
  • Apr 10, 2008 6:09am Apr 10, 2008 6:09am
Quoting malcolmb14
That short trigger worked well earlier. I closed for 45 pips.

Now on a 5 min chart we have 71.8% fib extension at 199.84.

Should it break down 199.80 , the fib extension level, 198.97 is a likely target.

However the 60 min does look like a doji is forming and may signal a retracement up to 200.76 / 201.11

Attachment
Well I think we are headed down today,
targets at 198.30 197.20 and 196.10
these are 61.8% 50.0% & 38.8%
these of course are based on fib levels from the LOW on 3/16 @ 192.66

the 180MIN chart this morning is calling for a continuation down. I was hoping we are now near the bottom and it may reverse here soon, but I think it is going to continue down a figure or two first and hit some of those old fib levels.

The Stochastic momentum at 5AM ET is a VERY LOW -57.95
the SM has not been this low since 3/17 around 2am when the price was
about 195.08. SM is like a hiuge wave and what it tells me here is that
the GJ could continue down for another 7 or 8 bars and at 180 min per bar,
this thing could be headed down another 24 hours before it reverses.

Yes I still have a few longs I am burried on. I was able to get out of quite a few of them with profits but once again I am in deep on some of my longs.

She is headed south before up sadly.
  • #2,305
  • Apr 10, 2008 6:15am Apr 10, 2008 6:15am
197.20 next. I sure hope that holds!
  • #2,306
  • Apr 10, 2008 6:19am Apr 10, 2008 6:19am
I am in the same situation, as you are my friend
  • #2,307
  • Apr 10, 2008 6:20am Apr 10, 2008 6:20am
Quoting stewrigh
Last week I forecast that Gbpjpy would hit 198.

I was short from 204 and I just closed my 4 shorts - might be a mistake but I don't want to get too greedy.

I still think it'll go to 198 and I may short again if it pulls back.
This is a good concept. Next time sell half and set a trailing stop of 30 pips or something on a trailing stop.

Good trading, not being greedy is an important concept to success.
  • #2,308
  • Apr 10, 2008 6:26am Apr 10, 2008 6:26am
Quoting malcolmb14
That short trigger worked well earlier. I closed for 45 pips.

Now on a 5 min chart we have 71.8% fib extension at 199.84.

Should it break down 199.80 , the fib extension level, 198.97 is a likely target.

However the 60 min does look like a doji is forming and may signal a retracement up to 200.76 / 201.11

Attachment
Or do you mean the often hidden or forgotten fib number of 76.4

There is no fib number of 718 it goes from 618 to 764
  • #2,309
  • Apr 10, 2008 6:26am Apr 10, 2008 6:26am
Quoting rrram2
This is a good concept. Next time sell half and set a trailing stop of 30 pips or something on a trailing stop.

Good trading, not being greedy is an important concept to success.
Once 198,28 breaks she is going down to 197.15

The only way gj is going up is if unemployment claims surprise to the upside
Blogging daily now at www.volume.zone
  • #2,310
  • Apr 10, 2008 7:11am Apr 10, 2008 7:11am
Quoting malcolmb14
Once 198,28 breaks she is going down to 197.15

The only way gj is going up is if unemployment claims surprise to the upside
Things are not looking good for GJ on the daily. Depending on the news today, I think we can be in for some new lows.
  • #2,311
  • Apr 10, 2008 7:56am Apr 10, 2008 7:56am
Quoting malcolmb14
Once 198,28 breaks she is going down to 197.15

The only way gj is going up is if unemployment claims surprise to the upside

employment claims were better than expected. any new analysis? thanks
  • #2,312
  • Apr 10, 2008 11:27am Apr 10, 2008 11:27am
Missed the 250 pips up but did ok with 140 pips in the bank from 4 am to 7 am my time.

The nice trade trugger cameo n the 3 min chart today.

I do not fully get the moveup as it seems the dj is being drawn up by Walmart forecasting better than expected earnings .... that just means that people who were hsopping in higher end stores are now bargain hunting at Wal-Mart. I personally hate going to Wal-Mart . however if I was broke it would be the first place i would shop due to the good prices they offer
Blogging daily now at www.volume.zone
  • #2,313
  • Apr 10, 2008 11:34am Apr 10, 2008 11:34am
Quoting malcolmb14
Missed the 250 pips up but did ok with 140 pips in the bank from 4 am to 7 am my time.

The nice trade trugger cameo n the 3 min chart today.

I do not fully get the moveup as it seems the dj is being drawn up by Walmart forecasting better than expected earnings .... that just means that people who were hsopping in higher end stores are now bargain hunting at Wal-Mart. I personally hate going to Wal-Mart . however if I was broke it would be the first place i would shop due to the good prices they offer
I've never shopped at Wal Mart and will hopefully never have to. FWIW I'm long UJ looking for 102.00 hopefully before its time for Helicopter to grab the microphone.
Patience + Humility + Study = Success
  • #2,314
  • Apr 10, 2008 1:23pm Apr 10, 2008 1:23pm
Quoting malcolmb14
Missed the 250 pips up but did ok with 140 pips in the bank from 4 am to 7 am my time.

The nice trade trugger cameo n the 3 min chart today.

I do not fully get the moveup as it seems the dj is being drawn up by Walmart forecasting better than expected earnings .... that just means that people who were hsopping in higher end stores are now bargain hunting at Wal-Mart. I personally hate going to Wal-Mart . however if I was broke it would be the first place i would shop due to the good prices they offer
20% of all US shopping dollars now go directly to china through Wal-Mart.
Wal-mart has more chinese goods than anyone, thats why the prices are cheaper, not too mention that when they are buying thousands or millions of the same item they sure get a much better deal price wise.
  • #2,315
  • Apr 10, 2008 1:27pm Apr 10, 2008 1:27pm
She sure looks real weak on the 60 and I can't see whats holding her up from falling hard again. Dow is only up what 100 points? Werid. I made up most of my money on those longs and still have other longs :|
  • #2,316
  • Apr 10, 2008 1:40pm Apr 10, 2008 1:40pm
Quoting rrram2
She sure looks real weak on the 60 and I can't see whats holding her up from falling hard again. Dow is only up what 100 points? Werid. I made up most of my money on those longs and still have other longs :|
every since you said you were in some losing longs you have been screaming shorts. are you using reverse psychology because this thing has been going up ever since? my shorts have been hammered.
  • #2,317
  • Edited 1:59pm Apr 10, 2008 1:47pm | Edited 1:59pm
Quoting timewilltell
every since you said you were in some losing longs you have been screaming shorts. are you using reverse psychology because this thing has been going up ever since? my shorts have been hammered.
I've got almost 200 RT trades for the week and I lost on only two of them
and they were both shorts that I got in a touch too early on and hit my SL and lost money. All the other longs have been good and I can't believe the beast bottomed out this morning when it sure looked severe to the downside.
And you have to admit those last 3 60 minute bars are NOT looking very bullish at all.

I am going to keep scalping them in range for whatever I can get even if its only 9 pips. MY equity is building but I am still down a figure or two on some old bad longs I wasn't smart enough to sell long ago.

What it seems like at least lately, is, if it looks to me like its going one way for certain, you can almost count on it going the other way.
  • #2,318
  • Apr 10, 2008 1:50pm Apr 10, 2008 1:50pm
I'm currently short with a SL at
201.45
  • #2,319
  • Apr 10, 2008 2:05pm Apr 10, 2008 2:05pm
Quoting bigcoupe
I'm currently short with a SL at
201.45
dang you got in at the very top. good job bro!
  • #2,320
  • Apr 10, 2008 2:07pm Apr 10, 2008 2:07pm
Quoting timewilltell
dang you got in at the very top. good job bro!

Entry was 201.2 ;-)

I had a higher SL but moved it down for some pip insurance!
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