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Daily GBP/JPY analysis

  • #1,241
  • Mar 12, 2007 4:54am Mar 12, 2007 4:54am
Quoting marwan2010
guess it was a false breakout, got suckedinto the trade, came out with 29 pip loss. went short at 229.41, stop 75 pips
so frustrating to trade this!!!
was 50 pips in profit at one stage, and has now turned and it is on a breakeven
  • #1,242
  • Mar 12, 2007 6:37am Mar 12, 2007 6:37am
Quoting marwan2010
guess it was a false breakout, got suckedinto the trade, came out with 29 pip loss. went short at 229.41, stop 75 pips
At long last! it is moving!
Half the position closed at 228.56, banked 85 pips
Stops moved at 229.75
  • #1,243
  • Mar 12, 2007 6:56am Mar 12, 2007 6:56am
Quoting ikimashu
From Gain is it~ lol

Good one!
By the way, what is "lol" means ?
  • #1,244
  • Mar 12, 2007 7:30am Mar 12, 2007 7:30am
what's going on? making profit but don't know why.
  • #1,245
  • Mar 12, 2007 7:33am Mar 12, 2007 7:33am
Quoting trader8686
By the way, what is "lol" means ?


laugh out loud
  • #1,246
  • Mar 12, 2007 7:41am Mar 12, 2007 7:41am
Quoting marwan2010
At long last! it is moving!
Half the position closed at 228.56, banked 85 pips
Stops moved at 229.75
Just banked 150 pips from my final lot
  • #1,247
  • Mar 12, 2007 7:42am Mar 12, 2007 7:42am
Now I am glad I held on through that drawdown this morning. But I still do not understand what made cable fall through the floor and UJ drop (except for generally negative USD sentiment). Nice, nice profit today.
  • #1,248
  • Mar 12, 2007 7:57am Mar 12, 2007 7:57am
Quoting moonchild
Now I am glad I held on through that drawdown this morning. But I still do not understand what made cable fall through the floor and UJ drop (except for generally negative USD sentiment). Nice, nice profit today.
Eastern European and US Investment bank buying YEN, this drag UJ down first, then carry trader joined, drag GJ down, and GJ drag GU down also....
- Ray Tracy - Novice forex trader from GMT+8
  • #1,249
  • Mar 12, 2007 8:09am Mar 12, 2007 8:09am
219.11
  • #1,250
  • Mar 12, 2007 8:37am Mar 12, 2007 8:37am
Everyone saying this sell off in usd/jpy and cable is all gbp/jpy related selling by Russian names.
  • #1,251
  • Mar 12, 2007 8:41am Mar 12, 2007 8:41am
Quoting im7i4z
219.11
219.11 seems like a nice number but i am not sure that GJ can penetrate the 221. 50 mark. Thats a really tough area.
  • #1,252
  • Mar 12, 2007 8:55am Mar 12, 2007 8:55am
Quoting nikim
219.11 seems like a nice number but i am not sure that GJ can penetrate the 221. 50 mark. Thats a really tough area.
It should take some rest at 225.20 area
  • #1,253
  • Mar 12, 2007 9:12am Mar 12, 2007 9:12am
I have a 225.88 Fibo level which it is struggling to get through, Once through tho next one is 224.82

Anyone else have similar numbers?
  • #1,254
  • Mar 12, 2007 10:07am Mar 12, 2007 10:07am
Quoting demontaz
I have a 225.88 Fibo level which it is struggling to get through, Once through tho next one is 224.82

Anyone else have similar numbers?
i got the 225.88
where u got the 224.82 one ?
  • #1,255
  • Mar 12, 2007 10:14am Mar 12, 2007 10:14am
Quoting demontaz
I have a 225.88 Fibo level which it is struggling to get through, Once through tho next one is 224.82

Anyone else have similar numbers?
It looks as though it is getting itself one very long running start to get past it.
  • #1,256
  • Mar 12, 2007 10:20am Mar 12, 2007 10:20am
I don't know which fib level that I can trust now, since carry trader could engage high volume trade at anytime with unknown reason to drive the chart crazy.......(Unfortunately, most time they engaged when I was sleeping, eating, showering, driving, making..some things.........)
- Ray Tracy - Novice forex trader from GMT+8
  • #1,257
  • Mar 12, 2007 10:21am Mar 12, 2007 10:21am
Quoting hazz
i got the 225.88
where u got the 224.82 one ?
It is the S3 line on Live Charts Fibo Pivots indicator

Also have 226.57 which it is struggling to get past as well
  • #1,258
  • Mar 12, 2007 11:13am Mar 12, 2007 11:13am
Lovely, wild trading. That's what we all need to make $ - a volatility.
A perfect point to go long (for aggressive traders) after sell off..
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  • #1,259
  • Mar 12, 2007 11:30am Mar 12, 2007 11:30am
Quoting raczekfx
Lovely, wild trading. That's what we all need to make $ - a volatility.
A perfect point to go long (for aggressive traders) after sell off..
after sell off ??? Is that means after this last candle cleared (now is red) ?
  • #1,260
  • Mar 12, 2007 12:19pm Mar 12, 2007 12:19pm
Quoting trader8686
after sell off ??? Is that means after this last candle cleared (now is red) ?
that's what I meant. Don't forget I used word 'aggressive'.

GJ might very well test the previous lows, who knows, but my trading is based on here and now, not what will happen tomorrow...
Also take partial profit off the table and move the rest to BE once in profit and you have no worries..
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