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GBP/JPY with Seaward22

  • #41
  • Jul 28, 2008 3:57pm Jul 28, 2008 3:57pm
Quoting Seaward22
I just went long 214.24. Shot down 10 pips right off the back. I'm treating this as a hedge for my short. I wish I had the balls to wait on 218. I just can't stand watching the ranging.
What ranging?

218 seems like the top of the channel for now but I would not be surprised to see it closer to 220 where the next big resistance is.

I'm riding this wave for over 3 months now and I probably my last buy in the recent dip to 208 and I don't mind staying watching "range" for a while... after all the carry is on my side is it not ?
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  • #42
  • Jul 28, 2008 3:59pm Jul 28, 2008 3:59pm
Quoting Seaward22
You guys don't even take time to read the entire thread. We've gained over 100 pips in this session alone trading this way. Karmo has a small account anyhow. You don't see us bashing him or you. Whats the deal?
hmm, assuming? lol
Trade what you see, not what you think.
  • #43
  • Jul 28, 2008 4:00pm Jul 28, 2008 4:00pm
Quoting magnumfreak
bad choice of words on my part. Lost in the translation from down south. LOL! Forget it and lets move on.

Are you saying that you captured about 100 pips during the U.S. session or overnight??
I traded live up and down from 6:00 PM Eastern to 6:30 AM Eastern. Sleeped till 11:30, then traded that until 2:30 PM.
  • #44
  • Jul 28, 2008 4:00pm Jul 28, 2008 4:00pm
Quoting karmostaji
hmm, assuming? lol
I looked at your numbers. I edited that part out anyway, look back up. I apologize for that rude comment.
  • #45
  • Jul 28, 2008 4:01pm Jul 28, 2008 4:01pm
Quoting branco
What ranging?

218 seems like the top of the channel for now but I would not be surprised to see it closer to 220 where the next big resistance is.

I'm riding this wave for over 3 months now and I probably my last buy in the recent dip to 208 and I don't mind staying watching "range" for a while... after all the carry is on my side is it not ?
Again I'm a day trader. This thing ranged all night and day. How do you not see that?
  • #46
  • Jul 28, 2008 4:10pm Jul 28, 2008 4:10pm
Quoting Seaward22
I traded live up and down from 6:00 PM Eastern to 6:30 AM Eastern. Sleeped till 11:30, then traded that until 2:30 PM.
cool. 4 trades for me on gbpjpy overnight since about 8 pm eastern. First scalp 40 pips, second 105, third 70 and the last was 20. I will scalp when none of my swing trades are ready yet. Great way to supplement the income.

You seem to be a high energy type of person well suited for scalping.
  • #47
  • Jul 28, 2008 4:14pm Jul 28, 2008 4:14pm
Quoting Seaward22
Again I'm a day trader. This thing ranged all night and day. How do you not see that?
I do see but just wanted to show you the big picture, or at least the medium-term picture where the pair is in clear uptrend.

Now 214 was support on the way down it is only natural that acts as resistance on the way up and it is not the best place for a daytrader to be. But your "ranging" is just a doji in an uptrend. Think you should wait for new short-term highs or a quick dip to 210 if you want to go long in the pair.

Just my 2 JPY
  • #48
  • Jul 28, 2008 4:15pm Jul 28, 2008 4:15pm
Quoting magnumfreak
cool. 4 trades for me on gbpjpy overnight since about 8 pm eastern. First scalp 40 pips, second 105, third 70 and the last was 20. I will scalp when none of my swing trades are ready yet. Great way to supplement the income.

You seem to be a high energy type of person well suited for scalping.
Wow, very nice! Now I understand why 20 pips are a waste.
  • #49
  • Jul 28, 2008 4:17pm Jul 28, 2008 4:17pm
Quoting branco
I do see but just wanted to show you the big picture, or at least the medium-term picture where the pair is in clear uptrend.

Now 214 was support on the way down it is only natural that acts as resistance on the way up and it is not the best place for a daytrader to be. But your "ranging" is just a doji in an uptrend. Think you should wait for new short-term highs or a quick dip to 210 if you want to go long in the pair.

Just my 2 JPY
I definetly will take your guys advice. I currently have only one trade open, short at 213.96
  • #50
  • Jul 28, 2008 9:37pm Jul 28, 2008 9:37pm
Going below 214. What do you guys see? I'm short 213.96 TP 213.75
  • #51
  • Jul 28, 2008 9:46pm Jul 28, 2008 9:46pm
Quoting Seaward22
Going below 214. What do you guys see? I'm short 213.96 TP 213.75
although it does happen, it is rare for Japan to push a currency past the high or low of the U.S. session. By what I can see, the low of the U.S. session was 213.85. It could spike down to your target but I would watch it close for a change of direction.
  • #52
  • Jul 28, 2008 11:45pm Jul 28, 2008 11:45pm
I am short on GBP/JPY too at 214.27 and I will close it before the UK data release.
  • #53
  • Jul 29, 2008 3:58am Jul 29, 2008 3:58am
Quoting Beacon
I am short on GBP/JPY too at 214.27 and I will close it before the UK data release.
Hope you closed it. Even though the GBP had bad news it still went up. Anyone think it still has a chance to touch 213.99?
  • #54
  • Jul 29, 2008 11:38am Jul 29, 2008 11:38am
umm...

i see the thread is dead since some hours ago... LOL!

well, for the day i am short on GBP/JPY... in fact i punctually opened it @ 0GMT... now i am break-even or so...

i guess this will be a boring day for me myself...

haha...

somebody of u still alive?

iiivb
  • #55
  • Jul 29, 2008 12:01pm Jul 29, 2008 12:01pm
hey seaward how long did it take you to go from 50k to 400k? just wondering is all
  • #56
  • Jul 29, 2008 12:24pm Jul 29, 2008 12:24pm
ok... just closed my short @ break-even.

now i opened a long for tomorrow...

aiming the 217.00 area again... sl @ 213.75

hope somebody joins me if agrees
  • #57
  • Jul 29, 2008 12:32pm Jul 29, 2008 12:32pm
They moved the thread to Rookies so I quit posting. I think they're all rookies on the discussion forumns. Don't like our trades so they move it over. Kind of glad they all got killed this session.
  • #58
  • Jul 29, 2008 12:33pm Jul 29, 2008 12:33pm
Quoting iiivb
ok... just closed my short @ break-even.

now i opened a long for tomorrow...

aiming the 217.00 area again... sl @ 213.75

hope somebody joins me if agrees
Holding up very well! I think I'll jump in with you. What price did you get in at?
  • #59
  • Jul 29, 2008 12:34pm Jul 29, 2008 12:34pm
Quoting treadline
hey seaward how long did it take you to go from 50k to 400k? just wondering is all
Just a few months. Commodities move much faster and larger than currencies.
  • #60
  • Jul 29, 2008 12:37pm Jul 29, 2008 12:37pm
Quoting Seaward22
Holding up very well! I think I'll jump in with you. What price did you get in at?
214.16
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