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PearsonFX Trades

  • #861
  • Apr 16, 2008 2:10am Apr 16, 2008 2:10am
GBP/JPY

I will sell off of 200.42 for a 50 pip scalp trade

Zack
The only sovereign I can allow to rule me is reason.
  • #862
  • Apr 16, 2008 2:11am Apr 16, 2008 2:11am
Iam still long us/jp, looking at 102.00
Tom
  • #863
  • Apr 16, 2008 3:15am Apr 16, 2008 3:15am
Gbp/Jpy is going down..i wish i have the mental strength to trade geppy on a live account..i blew up my live account once trading the best and since that time i've been scared like hell to even take a look at the chart.

demo trading G/J now (+45 pips...still counting)

thanks Zack for your post this morning

i have to be away from my computer for a while..i will keep checking for your updates.


Happy trading to everyone!
  • #864
  • Apr 16, 2008 4:08am Apr 16, 2008 4:08am
Scalp Target hit

199.92 take profit +50 pips

IBFX low was 199.77 with a 9 pip spread that means the lowest take profit with them would have been reached at 199.86

If you bailed out early because of the pre news reaction thats ok too...profit is profit.

I have Buys in play for the rest of the day 201.00 is a safe target

Zack
The only sovereign I can allow to rule me is reason.
  • #865
  • Apr 16, 2008 11:33am Apr 16, 2008 11:33am
Zack.

I appreciate all you have taught me, and all the gains you have introduced me to. Par Excellance

Even this latest round... way i figure the DrawDowns, a good chance to learn more regarding hedging, and also it helps keep me humble. As long as we remain in the top 10%, I see no reason for any other expectations.

Keep up the good work. I applaud you and your efforts to share your knowledge.

Keep it up, bud, and again, thanks.

best string i have ever followed.

da Bear
Durn the torpedos, full speed ahead
  • #866
  • Apr 16, 2008 4:01pm Apr 16, 2008 4:01pm
Quoting pearsonfx
Scalp Target hit

199.92 take profit +50 pips

IBFX low was 199.77 with a 9 pip spread that means the lowest take profit with them would have been reached at 199.86

If you bailed out early because of the pre news reaction thats ok too...profit is profit.

I have Buys in play for the rest of the day 201.00 is a safe target

Zack
Hello Everyone...just a little pre trade update....

Every one who was in G/J long from earlier you should be in good profit right now...my first target of 200.91 was reached. I am still looking at longs overall through asian and possibly london tonight, we may retrace down to two possible targets

200.39
199.97

Target overall right now is 202.30

good luck everyone safe trading

Zack

PS - Tom almost there....102.00 will come tonight
The only sovereign I can allow to rule me is reason.
  • #867
  • Apr 16, 2008 4:38pm Apr 16, 2008 4:38pm
Ha ha thanks Zack,
Tom
  • #868
  • Apr 16, 2008 7:57pm Apr 16, 2008 7:57pm
GBP/JPY Scalp

Short on GBP/JPY at 200.85 for 50 pips

Pending order Sell Limit at 201.35 for 100 pips

Target for both orders is 200.35

This should take us to about london where I will be looking to see if the trade lines up to go long again

Eur/Usd should fall later tonight...its been dropping but I am looking for a drop later tonight not yet

On the longer term scale....to put it plainly Eur/Gbp still sucks, should have followed my own advice with the stoploss/hedge at .7980.....look back in the history and you'll see it posted. I don't have the post number, will get it if someone wants it. BUT overall Eur/Gbp will fall when the Euro tumbles...which should come in the next week or so...every day that goes by the point that the euro needs to cross to have a major downfall gets higher

Will be back later.

Zack
The only sovereign I can allow to rule me is reason.
  • #869
  • Apr 16, 2008 8:02pm Apr 16, 2008 8:02pm
1.5863
1.5831
1.5794


I personally will be looking for the 1.5831 level but let's see how the trade develops

Zack
The only sovereign I can allow to rule me is reason.
  • #870
  • Apr 16, 2008 10:33pm Apr 16, 2008 10:33pm
Quoting pearsonfx
1.5863
1.5831
1.5794


I personally will be looking for the 1.5831 level but let's see how the trade develops

Zack
I am shorting the Euro now 1.5949 with a target of 1.5831 if you are short from yesterday as well you can take off the hedge if you had put one on when it broke 1.5913 and set the target at 1.5831 as well
The only sovereign I can allow to rule me is reason.
  • #871
  • Apr 16, 2008 10:47pm Apr 16, 2008 10:47pm
Here is a Chart of EUR/USD that I quickly threw together via an IM request...

Price initially broke the head and shoulders on the 1 hour which was the sell off we saw occur when the asian session started.

30 minute timeframe indicated a rise though...causing euro to test the neckline which I have outlined in Purple

Please excuse the orders I have on my account....I am currently grid trading the euro

Zack
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD2.GIF Size: 48 KB
The only sovereign I can allow to rule me is reason.
  • #872
  • Apr 17, 2008 1:07am Apr 17, 2008 1:07am
I'm loving your GBP/JPY Double Scalp USE MM Accordingly..your scalping method works well with the geppy..i'm getting some confidence trading this beast (demo trading..i'm scare to take a live trade). I am learning..learn! learn!! learn!!! only with a demo account. i trade E/U live and it has been a fair week.


Keep Up your Good work..i have not been seeing you on here for a while. i bet you must be busy..staying away from the computer or you are getting ready for a wonderful weekend?
  • #873
  • Apr 17, 2008 1:15am Apr 17, 2008 1:15am
Quoting titan0708
I'm loving your GBP/JPY Double Scalp USE MM Accordingly..your scalping method works well with the geppy..i'm getting some confidence trading this beast (demo trading..i'm scare to take a live trade). I am learning..learn! learn!! learn!!! only with a demo account. i trade E/U live and it has been a fair week.


Keep Up your Good work..i have not been seeing you on here for a while. i bet you must be busy..staying away from the computer or you are getting ready for a wonderful weekend?
Thanks Titan I appreciate it....I am here, I will post things that I feel are important if theres a question post it on here and I will answer when I can. Of course I don't want to spend all day sitting in front of the screen, but I do spend a fair portion of time here watching charts or doing other things.

We reached our target yesterday, let's do the same today. Remember I do mainly trade G/J, but I look at other pairs as well. If you mainly trade a less common pair like eur/chf but want my opinion on it...just ask and I will tell you and show you all that I see.

Ah weekends...lol, those are the times when the market isn't open I sometimes dread those times....lol when I can't make pips.

But in any case, if you post on here, it does draw my attention...

Good luck today everyone, any questions thus far?

Zack
The only sovereign I can allow to rule me is reason.
  • #874
  • Apr 17, 2008 1:37am Apr 17, 2008 1:37am
Euro has broken the triple top formation (1.5902,1.5896 & 1.5913 levels)on the upside which gives bullish indication and if Euro stays above the 1.5920 levels today a test of 1.6000 levels is possible. Many are still hoping for a US dollar recovery so there are likely to be more stops on the way up.

Strange movement in Euro right now..i hope Euro stays above 1.5920

hey i have to go now..i will be back for your updates
  • #875
  • Apr 17, 2008 1:41am Apr 17, 2008 1:41am
Quoting titan0708
Euro has broken the triple top formation (1.5902,1.5896 & 1.5913 levels)on the upside which gives bullish indication and if Euro stays above the 1.5920 levels today a test of 1.6000 levels is possible. Many are still hoping for a US dollar recovery so there are likely to be more stops on the way up.

Strange movement in Euro right now..i hope Euro stays above 1.5920

hey i have to go now..i will be back for your updates
I didn't consider those three levels part of a triple top....a triple top is a bearish reversal signal...I considered it a wedge or pennant of sorts....because of the way it was formed it looked very much like a bullish continuation pattern.

But, I do have the US dollar rallying.....as for where the top for the euro is...

I have the euro in the middle of a Bearish Gartley pattern on the 1 and 4 hour charts...but there is still room for the upside. In addition the Euro did form a bearish head and shoulders pattern....this is a pattern that I haven't seen the euro form in quite some time...not a head and shoulders but a BEARISH head and shoulders.

Although I agree that there is possible room to the upside I don't see a lot of it left.

Zack
The only sovereign I can allow to rule me is reason.
  • #876
  • Apr 17, 2008 1:43am Apr 17, 2008 1:43am
Hey Zack

what do u think about my trade

Long E/U at 1.5935





trade at your own risk..
  • #877
  • Apr 17, 2008 1:53am Apr 17, 2008 1:53am
Here are the 1 and 4 hour outlooks on GBP/JPY

Although we are scalping short....I want everyone to be aware that it is possible for us to bounce off the trendline and jump straight to our long target of 202.30...if that occurs first we will be looking at the retrace then.

Lower timeframes are agreeing with the retrace now.

Sells from the 202.30 if they occur would be down to the 200.00 area.

Posting about Eur/Usd next

Zack
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPY9.GIF Size: 52 KB
Click to Enlarge Name: GBPJPY8.GIF Size: 53 KB
The only sovereign I can allow to rule me is reason.
  • #878
  • Apr 17, 2008 2:00am Apr 17, 2008 2:00am
Hello Zack I am pleased with your analysis on G/J although a little bewildered that you get it so accurate but I suppose that is the main pair that you trade.
Thanks for the last few days its been good for me, so what's your view in the London and US sessions for this pair ?

BTW I am short on E/U @ 5925 & long swissie @ 1.0012 ..they were going well until that short squeeze a few minutes ago.

Jimmy
  • #879
  • Apr 17, 2008 2:13am Apr 17, 2008 2:13am
Sorry to keep the suspense, everyone is on the edge of their chairs lol

I need to look closer at the sudden rise just before the london markets opened to see if that is going to have a significant impact or not...

As of right now...sells are still in play as the neckline of the head and shoulders still held it down....

will post a chart soon give me a couple more minutes

Zack
The only sovereign I can allow to rule me is reason.
  • #880
  • Apr 17, 2008 2:25am Apr 17, 2008 2:25am
Great analysis Zack on the h & s, never would have saw that if you didnt point it out, it has held firm over a period of time, the psychological barrier of 1.6 may be a harder nut to crack then some people are making out, the dollar is also looking fairly strong across the board and showing quite a fight at present between bulls and bears, I go with you and favour a short on this pair.
btw: us/jpy reached 102 at last thanks ha ha
Tom
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