usdjpy - quick 15pips first thing this morning on DIBS
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- #134
- Edited Apr 21, 2009 1:49am Apr 20, 2009 2:26am | Edited Apr 21, 2009 1:49am
here's what i wrote in the J16 thread...
A number of you have been demonstrating some interesting setups on GBPUSD and i would agree that the 2 day BEOB is definitely playable.
However my reasons for this are largely fundamental. It is budget week here in the UK and that twat of a chancellor (who personally i don't think is capable of running a bath let alone the Uk's finances) will have to announce just how bad the UK economy is and the fact that this recession is going to last far longer than they expected, and that they have no realistic way of paying for it. After 8 years of exceptional growth around the world how on earth do you manage to run up the biggest PSBR in our history? Incompetence is not strong enough -it is gross negligence - it is verging on criminal and these people should be jailed for what they have done to the country.
(oops getting a bit carried away)
but you get the point - -I expect GBP to take a hammering this week. I for one like the setup of the 2 bar BEOB. Originally I thought that maybe the TL on the 4hr might create another bounce that would take us back above 1.5 but unless there is bad news in the US I am now thinking the TL will be broken and the weekly down trend continues.
.... however there seems to be some articles saying that the chancellor is going to put out a positive message about the state of the economy - which could provide some relief to GBP - but I hope people aren't taken in by it.
PLayed the 2 bar beob on daily and in nice profit with stop at BE. will take half off at the 4hr TL and will keep an eye on it - i am expecting a small bounce here so will move my stop up on 2nd part. Then if it does eventually break i will look to reenter
update - hit TL - half off and stop under the 4hr IB to protect some profit against a bounce
update - 2nd half off at 145 ppz where it seemed to stall
A number of you have been demonstrating some interesting setups on GBPUSD and i would agree that the 2 day BEOB is definitely playable.
However my reasons for this are largely fundamental. It is budget week here in the UK and that twat of a chancellor (who personally i don't think is capable of running a bath let alone the Uk's finances) will have to announce just how bad the UK economy is and the fact that this recession is going to last far longer than they expected, and that they have no realistic way of paying for it. After 8 years of exceptional growth around the world how on earth do you manage to run up the biggest PSBR in our history? Incompetence is not strong enough -it is gross negligence - it is verging on criminal and these people should be jailed for what they have done to the country.
(oops getting a bit carried away)
but you get the point - -I expect GBP to take a hammering this week. I for one like the setup of the 2 bar BEOB. Originally I thought that maybe the TL on the 4hr might create another bounce that would take us back above 1.5 but unless there is bad news in the US I am now thinking the TL will be broken and the weekly down trend continues.
.... however there seems to be some articles saying that the chancellor is going to put out a positive message about the state of the economy - which could provide some relief to GBP - but I hope people aren't taken in by it.
PLayed the 2 bar beob on daily and in nice profit with stop at BE. will take half off at the 4hr TL and will keep an eye on it - i am expecting a small bounce here so will move my stop up on 2nd part. Then if it does eventually break i will look to reenter
update - hit TL - half off and stop under the 4hr IB to protect some profit against a bounce
update - 2nd half off at 145 ppz where it seemed to stall
