DislikedI have been looking at this pair for a some time now but have not traded it simply because of the high spread cost. On my platform 9 pips. I placed both charts usd/jpy and gbp/jpy side x side and both look/move very similar.
Are there other advantanges to trading this pair vs. usd/jpy?Ignored
Jim, nice work. I feel you are looking for my input. I can not watch, of course, all day long but specially for you...
The pair is working on a rising flag. If you convert your chart to 30min, you will see it clearly. I am still long, with 150 pips gain in one single trade (theee trade). In this formation you can see three stacking tops but in a reverse, ascending order. 3 is a critical number in Japanese charting techniques. It will either create the fourth top and finally a breakout to the upside. If the fourth top is only a copy, or similar to the second (middle) small top, then the bullish power is fading and I will join the other party once bears invite me. Just some thoughts. You have some magic power, Jim, to pull me back.
if you'll have some time to spare, would you mind showing that rising flag on screenshot please ?
Thanks.
- #2,843
- Mar 20, 2007 1:31am Mar 20, 2007 1:31am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
Hey Alcastro,
did you get the whole move on the pound? Great Job on entering that trade early!!! Hope your stop was below 1.9430 (I'm bitter b/c I had entry order set at 1.9429 (15 pips above 21) and missed long by 1 pip! Think I have angered the pip gods by not following my plans the last few trades
Hope you are up 100 pips!!!!!!!! What a great way to start the day, eh?
Pips
did you get the whole move on the pound? Great Job on entering that trade early!!! Hope your stop was below 1.9430 (I'm bitter b/c I had entry order set at 1.9429 (15 pips above 21) and missed long by 1 pip! Think I have angered the pip gods by not following my plans the last few trades
Hope you are up 100 pips!!!!!!!! What a great way to start the day, eh?
Pips
- #2,846
- Mar 20, 2007 6:05am Mar 20, 2007 6:05am
Hey Alcastro,
did you get the whole move on the pound? Great Job on entering that trade early!!! Hope your stop was below 1.9430 (I'm bitter b/c I had entry order set at 1.9429 (15 pips above 21) and missed long by 1 pip! Think I have angered the pip gods by not following my plans the last few trades
Hope you are up 100 pips!!!!!!!! What a great way to start the day, eh?
Pips
I didn't get the whole move because I had a t/p at 50 pips. So thats all I got from this big move. It all happened while i was sleeping. I have to work on my t/p's. I've found I have been setting them too conservatively and many times i jump out of the trade too early. That is because I do not want to be in front of the computer babysitting them. I do not want to become a fx-slave. So I am working at finding the perfect trade, writing my plan, setting the trade, back to my life. As I said, there is a part of my plan that is not working as it should: the t/p setting.
On the other hand I was stopped out of the Euro/Us. I still think it may go long, but MACD is not showing anything. Maybe a Zero rebound? Unfortunately I'll be at work when this happens (aarggg!!!!!)
My us/JP trade is till there. Not moving as fast as yesterday, but crawling slowly.........zzzzzzzzzlowly.
Hi Pips,
I didn't get the whole move because I had a t/p at 50 pips. So thats all I got from this big move. It all happened while i was sleeping. I have to work on my t/p's. I've found I have been setting them too conservatively and many times i jump out of the trade too early. That is because I do not want to be in front of the computer babysitting them. I do not want to become a fx-slave. So I am working at finding the perfect trade, writing my plan, setting the trade, back to my life. As I said, there is a part of my plan that is not working as it should: the t/p setting.
On the other hand I was stopped out of the Euro/Us. I still think it may go long, but MACD is not showing anything. Maybe a Zero rebound? Unfortunately I'll be at work when this happens (aarggg!!!!!)
My us/JP trade is till there. Not moving as fast as yesterday, but crawling slowly.........zzzzzzzzzlowly.
Sorry to hear about the Euro trade...I think you are right that there is still life in that trend...but maybe we will see a drop to 1.3244 or 1.3201 TL first? I find the Eur hard to trade...it frustrates me....
This means the guys have no other way to make money with their trading systems than to sell them. Otherwise why they don't trade themself and earn those crazy thousands of pips?
Because they want to "give back."
I'll stop now......
- #2,851
- Mar 20, 2007 6:47am Mar 20, 2007 6:47am
Sorry to hear about the Euro trade...I think you are right that there is still life in that trend...but maybe we will see a drop to 1.3244 or 1.3201 TL first? I find the Eur hard to trade...it frustrates me....
Thanks for the screenshot. I think I did something wrong, and now, my charts seems to look a lot like you posted. Too bad I missed the 100 pips ride upwards of GU a while ago. Waiting for the next trip maybe?
Glad to see cable has decided to move again! Let's all make some pips!!!
, , at least when i trade the gBP i know real quick that i am going the wrong way!
(sorry, i did have to laugh when i read your post, b/c i know exactly what you mean
).Hope you caught the move today!
That upmove happened so fast, it was easy to miss. Keep your eye on TL resistance levels we are coming up on and see if the indicators give a contertrend signal (I'm thinking that we will see profit taking later today b/c of fed meeting...but I could be wrong).
Glad to see cable has decided to move again! Let's all make some pips!!!
I dont understand some of the line you have in your screenshot. But the way I see it now, GU is on top of all the MA lines. Is that what you mean by some correction may be coming soon?
What's TL?