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The Experts Zone: GBPJPY

  • #221
  • Apr 8, 2009 8:55pm Apr 8, 2009 8:55pm
Alright, I am already seeing the benefits of this new monitor, I am seeing things I never saw before in indicator behaviours.

The default MT4 template "Popular" the rsi setup is an early warning setup into the trend
  • #222
  • Apr 9, 2009 3:07am Apr 9, 2009 3:07am
Good afternoon.
Atm, we're still holding short although we've had a signal for the upside, stops should be comfortably locked in +ve if we've took the ride from far up. Many wood to chop before we could comfortably position for long & with the flurry of data due for release today which could possibly cause whipsaws & possibly low trading volume tomorrow, I am somewhat not intrigued with the idea of a reversed position. Will watch pa closely.

Good luck
Attached Image(s) (click to enlarge)
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  • #223
  • Apr 9, 2009 4:25am Apr 9, 2009 4:25am
Quoting wormboy
Good afternoon.
Atm, we're still holding short although we've had a signal for the upside, stops should be comfortably locked in +ve if we've took the ride from far up. Many wood to chop before we could comfortably position for long & with the flurry of data due for release today which could possibly cause whipsaws & possibly low trading volume tomorrow, I am somewhat not intrigued with the idea of a reversed position. Will watch pa closely.

Good luck
sincerely speaking i am thoroughly confused today, so am on the fence entirely.
  • #224
  • Apr 9, 2009 4:32am Apr 9, 2009 4:32am
Quoting forexlion
sincerely speaking i am thoroughly confused today, so am on the fence entirely.
I hear you my friend. Apart from my locked profits on the previous short, I'm doing the exact same thing myself. But since both our way of trading doesn't need us to be glued to the screen, no harm done. Any good movies to recommend me?
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  • #225
  • Apr 9, 2009 9:26am Apr 9, 2009 9:26am
My bias has changed towards long since the breakout and the 145 level seems to be holding nicely atm. Good luck
Attached Image(s) (click to enlarge)
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  • #226
  • Apr 9, 2009 10:04pm Apr 9, 2009 10:04pm
I should not have traded on Thursday and I am not trading on Friday either.

With absolute flat and confusing markets, its better to sit on the fence.

I had a really bad experience on Thursday
  • #227
  • Apr 10, 2009 1:54am Apr 10, 2009 1:54am
3 days of dull markets........
Attached Image (click to enlarge)
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  • #228
  • Apr 10, 2009 11:16pm Apr 10, 2009 11:16pm
4 hour GJ is showing bullish divergence, which means we can now set eyes on 155.87 as given in post #165

This NOT, I repeat this is NOT confirmed as yet, just a possibility.

Considering the good friday as weekend close, I will prefer not to take any fresh positions till London open on Monday.
Attached Image (click to enlarge)
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  • #229
  • Apr 12, 2009 9:47pm Apr 12, 2009 9:47pm
This week we will be testing 150 once again.

However, avoid trading today, see calendar for reason.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 15 KB
  • #230
  • Apr 13, 2009 1:46pm Apr 13, 2009 1:46pm
and the journey continues into 150

if broken with a weekly candle close above it, then the next level is 162.69
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 14 KB
  • #231
  • Apr 13, 2009 10:22pm Apr 13, 2009 10:22pm
Good morning. Hope everyone had a great weekend & enjoyed the holidays. I sure did
The magenta line which are drawn on the 4hourly & daily (147.47) was where is currently serving as a small support. Let's see if it'll hold. If it does, 156 levels is a realistic area to watch in the days to come.
We'll see. Good luck.
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  • #232
  • Apr 13, 2009 11:34pm Apr 13, 2009 11:34pm
GBPUSD trade levels, long term: weekly uptrend

38.2% is definite, stronger trend can go to 61.8%
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 14 KB
  • #233
  • Apr 13, 2009 11:36pm Apr 13, 2009 11:36pm
Same way GBPJPY, weekly uptrend

USDJPY has already achieved its 61.8% on yearly fibs.

So the main reason for GJ move here will be GU movement.
Attached Image (click to enlarge)
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  • #234
  • Apr 13, 2009 11:40pm Apr 13, 2009 11:40pm
Quoting forexlion
Same way GBPJPY, weekly uptrend

USDJPY has already achieved its 61.8% on yearly fibs.

So the main reason for GJ move here will be GU movement.

Agree
  • #235
  • Apr 14, 2009 4:33pm Apr 14, 2009 4:33pm
Trading had been very testing up till now. I'd prolly love it if I scalp tho.
So let's see if the ltl holds for now. Good luck & good nite.
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  • #236
  • Apr 15, 2009 3:47am Apr 15, 2009 3:47am
No clean break for dragon for shorts to be taken. And 145.xx support level is proving to be very tough to break atm. We'll see how this current 4hour close.
I am planning to close my current trade for dragon by today regardless of profit/loss as I won't be able to trade freely for the next few days. Be back in a bit to close & good luck
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  • #237
  • Apr 15, 2009 6:56am Apr 15, 2009 6:56am
A breakout & close above the highlighted area & dragon would probably test 151 levels again. Else, we might just consolidate again like we've had all week. Let's see.
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  • #238
  • Apr 16, 2009 6:49am Apr 16, 2009 6:49am
After literally wasting 2 days on zulu and taking a hit of more than 500 pips, [But at 32K pips in 9 weeks i am tired a bit] I am now back to normal with a new strategy designed to scalp 10 to 20 pips quickly, with almost 0 drawdown.

I had to find something to curb drawdown on single trades. Now I need to get to top 5 based on performance alone.
  • #239
  • Apr 17, 2009 9:05am Apr 17, 2009 9:05am
Lets see if the current buying momentum holds till 147.80
Attached Image (click to enlarge)
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  • #240
  • Apr 19, 2009 10:10pm Apr 19, 2009 10:10pm
Morning fellas
First look on dragon & it does look bearish. But, I'll wait for the 145.xx support to be taken out before positioning. Till then, I'm still on the sidelines.
Catch everyone later. Chow.
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