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  • #9,161
  • Feb 24, 2009 11:25pm Feb 24, 2009 11:25pm
do you guys see this 141.55 as a place for a reversal? May I ask why?

thanks
The way is narrow
  • #9,162
  • Feb 24, 2009 11:34pm Feb 24, 2009 11:34pm
Quoting Sainz4Pips
do you guys see this 141.55 as a place for a reversal? May I ask why?

thanks
It comes down to what you define as a reversal....as traders we only assume a reaction and then we adjust to what flows from the point on. As well the conditions the market has created for us prior to the reaction expected should give us an Idea of what could happen next and how a big of a move can be created. This variables are based on the remainder part of your analysis and that should let you know how to manage the trade as in stop size and target size .
  • #9,163
  • Feb 25, 2009 12:19am Feb 25, 2009 12:19am
Alright I am currently up 15 pips in the gbpjpy and up 13 pips in the usdjpy...


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Attached Image (click to enlarge)
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  • #9,164
  • Feb 25, 2009 12:38am Feb 25, 2009 12:38am
Alrigh I have 45 pips in the gbpjpy and 25 in the usdjpy
  • #9,165
  • Feb 25, 2009 1:04am Feb 25, 2009 1:04am
Made 44 in my usdjpy and 50 pips in the gbpjpy I have taken almost everything off...

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and my gbpjpy

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lol all to easy like stealing candy from a baby
  • #9,166
  • Feb 25, 2009 1:54am Feb 25, 2009 1:54am
shermenator,

i'm looking at the GJ (daily) seems like it has broken out of the upper trendline.

do you still think Yen weakness has reversed?

like to hear your views.
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  • #9,167
  • Feb 25, 2009 2:01am Feb 25, 2009 2:01am
Quoting hwsv07
shermenator,

i'm looking at the GJ (daily) seems like it has broken out of the upper trendline.

do you still think Yen weakness has reversed?

like to hear your views.

well it depends on how much of a reversal your expecting...we are at a major level of resistance so it will probably give me more then one attempt at shorting it....I also dont know how much of deep of a movement untill I start seeing some shifts in the timeframes....but as of the moment I know I can be taking 50-75 pip scalps on it....as well as the gbp has strenght in the market so we might see the market push higher to hit more buy stops so I see myself positioning myself at a higher price and taking more pips again...
  • #9,168
  • Feb 25, 2009 2:06am Feb 25, 2009 2:06am
Seems like we are going to se some yen weakness momentarely so be carefull on how you trade the levels ...I am stepping aside untill I see the conditions correct again...
  • #9,169
  • Feb 25, 2009 2:08am Feb 25, 2009 2:08am
Like I mentioned yesterday ...dont stand in front of it ....it should give us a good shot at a higher price but not yet...

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  • #9,170
  • Feb 25, 2009 2:11am Feb 25, 2009 2:11am
I wont be getting in front of this leve even though its good but the conditions in the market are not...

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  • #9,171
  • Feb 25, 2009 2:53am Feb 25, 2009 2:53am
Quoting Shermenator
I wont be getting in front of this leve even though its good but the conditions in the market are not...

Attachment
The level is now maturing better...if it goes up again it might be getting ready...I will mention if I take it
  • #9,172
  • Feb 25, 2009 3:59am Feb 25, 2009 3:59am
hi sher, or any other members,

would it be a good trade to long at 1.2800-1.2805?
  • #9,173
  • Feb 25, 2009 4:07am Feb 25, 2009 4:07am
Quoting Knightz
hi sher, or any other members,

would it be a good trade to long at 1.2800-1.2805?
I wont be getting in it at that price...but once again I dont know what your planing to target or use as a stop...theirs more variables...it really matters on how you manage it
  • #9,174
  • Feb 25, 2009 4:17am Feb 25, 2009 4:17am
Alright we are starting to see the first weakness on the gbp today ....I think we might get another chance at shorting at a higher price ...

FTSE is currently going up showing weaker gbp...

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  • #9,175
  • Feb 25, 2009 5:19am Feb 25, 2009 5:19am
This is a pair that will probably give a good shot at it later...

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  • #9,176
  • Feb 25, 2009 5:21am Feb 25, 2009 5:21am
Quoting Shermenator
This is a pair that will probably give a good shot at it later...

Attachment
I will mention if I take it like I always do
  • #9,177
  • Feb 25, 2009 5:39am Feb 25, 2009 5:39am
geez... why is GU plunging so much while der isnt much major news being released...
  • #9,178
  • Feb 25, 2009 5:52am Feb 25, 2009 5:52am
How do you manage to not bet to much on the same basic trade idea. Like shorting usd/jpy gbp/jpy eur/jpy aud/jpy at the same time? I won't do that since I'd risk much more than I want on basically the same trade...do you have another point of view on this?
  • #9,179
  • Feb 25, 2009 6:01am Feb 25, 2009 6:01am
Alright I am now long in the gbpusd...

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  • #9,180
  • Feb 25, 2009 6:03am Feb 25, 2009 6:03am
Quoting Marco
How do you manage to not bet to much on the same basic trade idea. Like shorting usd/jpy gbp/jpy eur/jpy aud/jpy at the same time? I won't do that since I'd risk much more than I want on basically the same trade...do you have another point of view on this?

I just bet it on my hit rate...I win a good amount of my trades so I dont mind having a couple of trades trades on the same currency
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