Cool Runnings intraday swing trading

Is this the end.
Since there has not been any tips for a while on this thread. I have been using the MA to help me trade GJ and I must say that I have doubled my 1000 deposit. It now stands at 2,153. GJ ended the week at NY close 147.015. When Asia opens I expect it to go south. Anyone care to comment?

What's Going On? Anybody Hear From Him? Tatton, You Doing Ok?

Hope All Is Well With Everyone.

Hello Everyone,

Since there hasn't been anymore posts, has anyone found other threads, or sites that were as productive as Tatton? I will let you know if I do.

Take care!

Chuck

I like the GbpJpy to maybe bust through the red trend line on an up move, if it takes a bounce off the 140 support line. If it breaks the support at 140, it could take a deep tumble south. Thought I'd post something for those who are still looking at the thread.

Chart is attached, can't figure out how to cut ans paste it in.......

It has broken support at 140 and is in a free fall right now. I'm taking partial profit at 139 and putting my SL at 140. If I clear partial, I'll put on a 30 pip TS and see where it goes. It's down to 139.18 now.

Partialed half at 139 for 100 pips. I've marked the daily chart with a possible support area at 138.84. Support areas are marked by the red arrows. Taking off the trailing stop and moving SL to the monthly pivot area of 139.69. Let's see what happens

Taking a bounce off of 139, but I think the monthly pivot might hold at 139.69. If not, that is what the SL is for.

Might be a good place to clear the other half with 80 pips profit. Now at 139.20. I'm going to hang on and keep my SL at 139.69. If it makes another run below 139 then the possible support at 138.84, I think it will make another run down to at least 137. See possible support at 137 on the daily.

(By the time I made drew lines and arrows on the chart, it had already moved up to 139.50)

If I would have followed my own advice, I would have cleared my second half at 139.20 for 80 pips, plus the 100 pips from the first half. I stopped out at the monthly pivot at 139.69. Now the top of the 1hr candle is just sitting there, as this level is causing some resistence. If it starts to run up past here (139.69), I think it will break 140 and bounce off of 140.50 and head back down. I see some resistence there on the 1hr chart. Either way, I think the downtrend will continue. For now, my trade is cleared for 100 pips on the first half, and 31 on the second (rather than 80). Happy to close with some pips, than none at all. Have a good day. If I see something tomorrow during the Asian session, I will try to post something.

Hiya FXDad

Only came across this thread a month ago when it was very quiet! Did look very informative before that though.

Thanks for your posts, just wanted to let you know someone was looking at them! I'm pretty new to trading started in January when I was made redundant and wanted to try something new and work for myself! Still finding it pretty difficult to predict what might happen next! Lol

Brian

Hey Brian,

Nice to know that someone is reading. Tatton, the guy who started the post, was giving some really great trade advice. He took some time off and hasn't been back. I will do what I can in his absense. It was actually fun tonight.... maybe because I was right. LOL. I have been trading for 5 years now. The best advice I can give is to start small. Actually, you are so new to it, stay with a demo account for a while. Keep your leverage at 100:1 and don't risk more than 3-5% of bankroll on any one trade. Greed kills everyone, including me at the end of the year, when I shouldn't have been trading at all, because the markets were so crazy and liquidity was thin. Trade smart, when the time is right. Don't make a trade, just to trade. There will always be another trade. You can see how easy it is to make money, even just on one trade. But, you can lose it just as fast too. Decide on a trading style and stick with it. Short term trades are what I do best with. Usually hold for no more tha a day. Today for example, I was in for about 4 hours. Sometimes only 4 minutes. I like to take the pips and run, rather than hold for too long. Then ususally I get stopped out and make nothing or even lose.

Thanks for the post. Hope to see you here again.

Chuck

GBPJPY is starting to to break out of consolidation, as it has been straddling the 141 area, and has just bounced off the 141.35 RL. The red arrow points out where I made my last post about it breaking 140 and moving up toward the 140.50 area. It blew through that all the way to 141.95 almost 142. If it moves past the 141.35 RL, then I think it could take another run up to 142. If it falls below the bottom red trend line, and under 141, watch the 140.50 and 140 levels. Something to think about. I will be away so won't be able to trade. We'll see what happens.

Now at 141.18

I was away from the computer, so I missed this move. It did break the 141.35 RL and went up to 142. Oh well, can't catch them all.

If it can't maintain above 142, I think it may take a fall. We'll see. I'll be back on in a few hours, before London open.

Now at 141.83

I'm going to watch this on a 15min chart. If a bear candle opens and closes below 142, I'll take a small position, maybe a 1/3 or 1/2 size trade. If it clears 141.75, where there was some support earlier, I think it will make a profitable move down. Depending on price action, I may clear near 141.

(Ignore the trendlines that were drawn earlier inthe Asian session.)

Going to keep an eye on these trendlines on the 1hr, along with the support at 142, and resistence at 142.73.

Now at 142.20.

Price action is really slow right now. Still trading within the trendline in the previous chart. Maybe calling it a night soon, it's 1:46am where I'm at.

Please feel free to post, or if you are new to trading, and have any questions. We're all here to learn

Now at 142.40

Buy gbpjpy at 142.80, moving fast

Price is at 143.09 after reaching as high as 143.20. If the next 15min candle holds above 143, I am going to move my SL to breakeven.

FXDad, looks like your gettin your groove back on after that move.

I've been using the Gann indicators(two overlaying each other) and have been dead on most every time........Check it out. It really helps for direction and keeps you in the trade longer. Its used with QQE indicator. I mainly just follow the Ganns. I don't wait for it to flip for my exit, I just take my profit at will.

You can get them from the Auslanco thread.

I'll see if I can get them and put them here.

Happy Pips