Journey Forex GBP/JPY - mostly same day trades

The price broke above 209.00 then came back to test support level 208.00. Long positions look good on daily chart since the price has not closed above 208.08 since Feb 27th (prior to May 28th). I will enter long on the break of 209.50. I am avoiding entering on 209.00 because we got a 150 pip bounce from the 209.00 break on Friday May 30th. 210.50 looks good to T/P or if the momentum is strong, I will move my S/L to B/E and mentally trail my stop 75 pips; target 213.62. I don't trade with stops unless I'm away from my computer usually. Too many stop hunts in my past. Just this weekend it looks like my broker manipulated the price by 70 pips. On my real time chart, the lowest price for today is 207.79 but my broker dropped the price to 207.00 at 3:30pm today. Just another word to say to everyone DO NOT PLACE STOPS AROUND THE 00's and 50's.

The story goes that the gap at opening will always be filled. IF that is true, then we could see an upswing from here, which is now @ 207.84
I will watch this a bit longer to see how this develops.

The price has broken my up trend line and the 207.00 support so I am short @ 206.76.

Moved S/L to B/E....target 205.50 for safe trade; 205.00 aggressive

trade closed @ 205.50 with 125 pips

I'm on the sidelines for right now but if the price falls below 205.00, I will look at going short for 50 pips TP by 204.30; long at 206.25 for 100 pips.

I took a short yesterday @ 204.76 and this hit my T/P @ 204.20.....56 pips profit, nice.

Usually when the price falls to 204.00 it ranges between 205.00 & 203.36. I am look for this to keep moving down towards the bottom of my up channel and am looking for either a reversal around 203.00-203.50 level or a break of that level which might give a 300 pip drop. So I will wait for a clear direction before I reenter the market

I see a head and shoulders pattern on the 4 hour chart forming. I still won't take any shorts unless it falls below 203.00 just to be on the safe side. If anyone has more of an appetite for risk than I do, there is potential to make 40 pips if the price breaks 204.00. If you short 204.00 be sure to get out before 203.50. It usually bounces fast at that level.

I cannot watch the market much today but I will only go long if the price gets to 207.20 for 50 pips. I will not take any shorts @ this time.

This is for whenever the price finally breaks out of the ascending triangle that it's currently trading in. The trading range is narrowing in from 209.00 to 204.00/03.50. I look for places to set limits outside of the range for longer term analysis. I have a limit short order set @ 203.20 T/P 200.00 S/L 204.80. For possible long trade after the breakout I'm looking @ 210.00 but will do more analysis before confirming where I will place a longer term limit for longs. 209.00 level is tricky. The targets are usually large so a trailing stop of 80 to 100 pips is always a must. Today is a jam packed busy day so I will continue with my analysis later the week.

Trade closed @ 207.45 with 25 pips. I didn't hold this position because it just wasn't worth the risk. U.S. is closed, the price has tried to break the 207.50 level since 10am plus tomorrow is NFP. I don't know what to expect from the market. I'm not trading tomorrow so as of today I am @ 200 pips for the week. That's half of my goal of 400 pips for the month. I'm happy

Happy Trading and good weekend to everyone.......

Nice journal.
All the best!

Thanks Good. I'll have to check out yours. I'm always open to learning.

Looks like I missed a nice move today. It's storming where I live so I stay off my computers during those times. To finish up my longer term analysis, I will go long if this breaks 210.00 with at least a 7 pip break. I will hold the trade and trail the stop 100 pips taking profit if it gets to 213.00. If it reverses and goes south, I will look at short trades on 208.00 break for 50 pips.

My long order was hit yesterday evening. Out with -24 pip loss. Too large target.

short @ 209.54 for 25 pips

trade closed @ 209.27......lucky timing, i just traded back my -24 pip loss from last night. lesson learned...

New rule I'm implementing after yesterday's loss, I will only set same session limit orders during the London session only. Price action is just too unpredictable before open.

Short term analysis, 209.00 level is tricky. The price could break through or bounce from this S/R so i will wait for a clear direction before reentering. If 208.00 is broken, I will enter short and target 207.00.

New S/R that I'm adding is 210.50.

If it bounces at 209.00 and breaks 210.00 I'll go long for 50 pips. If anyone is trading with me, make sure that you are out by 210.70. The price might bounce at this level or could gain momentum. Either way, 210.50 is safer.

I will go short @ 210.00 for 100 pips; long @ 210.81 for 50 pips.