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The Experts Zone: GBPJPY

  • #461
  • Edited 5:58pm Jun 28, 2009 5:46pm | Edited 5:58pm
On zulu id IndianLion, I started sending signals directly from my LIVE trading account at FxPro, so whatever trades I take on my real money account are automatically sent out as signals from this week onwards.

Monday:

I have sell limit at 1.6520 with a target of 1.6400 on GBPUSD
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 20 KB
  • #462
  • Jun 28, 2009 6:10pm Jun 28, 2009 6:10pm
Quoting forexlion
On zulu id IndianLion, I started sending signals directly from my LIVE trading account at FxPro, so whatever trades I take on my real money account are automatically sent out as signals from this week onwards.

Monday:

I have sell limit at 1.6520 with a target of 1.6400 on GBPUSD
I agree .. its within the range still and 6400 is a 50% from the current rise up.

Keep up with the range game until you are caught in a breakout down or up!
  • #463
  • Jun 28, 2009 7:40pm Jun 28, 2009 7:40pm
Quoting forexlion
On zulu id IndianLion, I started sending signals directly from my LIVE trading account at FxPro, so whatever trades I take on my real money account are automatically sent out as signals from this week onwards.

Monday:

I have sell limit at 1.6520 with a target of 1.6400 on GBPUSD
sell limit hit, trade opened @ 1.65200

now depending on how 15 min macd reacts to one of the supports, i will decide whether to book partial profits or let the trade continue.
  • #464
  • Jun 28, 2009 8:00pm Jun 28, 2009 8:00pm
This is what I have been working on all this month of June as a shift from my normal trading style.

I concentrated on keeping the low to the lowest value [ The low is the maximum drawdown in pips per open trade !! ]
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 76 KB
  • #465
  • Jun 28, 2009 8:13pm Jun 28, 2009 8:13pm
Now considering that we have hit the support at 1.64740 as per 15 min macd and considering that this support does not break

We might go back to kiss the yellow line at 1.6520 once more before dropping back down.

Either way, I will wait for a proper trade entry on 15 min first.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 14 KB
  • #466
  • Jun 28, 2009 8:36pm Jun 28, 2009 8:36pm
Quoting forexlion
This is what I have been working on all this month of June as a shift from my normal trading style.

I concentrated on keeping the low to the lowest value [ The low is the maximum drawdown in pips per open trade !! ]
What made you opened this trade @ 1.6520 and TP is 1.6400?
and what made you closed it only for 30 pips?
  • #467
  • Jun 28, 2009 8:41pm Jun 28, 2009 8:41pm
Quoting pino2
What made you opened this trade @ 1.6520 and TP is 1.6400?
and what made you closed it only for 30 pips?
above day open i buy and below day open i sell, simple

as for closing early, this idiot has a reputation of going back to day open before london atleast once
  • #468
  • Jun 28, 2009 8:43pm Jun 28, 2009 8:43pm
what is your day open time 5 PM EST?

Quoting forexlion
above day open i buy and below day open i sell, simple
Its all in the mind.
  • #469
  • Jun 28, 2009 8:46pm Jun 28, 2009 8:46pm
Quoting 5abi
what is your day open time 5 PM EST?
fxpro server, never checked the exact time though
  • #470
  • Jun 28, 2009 9:35pm Jun 28, 2009 9:35pm
Quoting forexlion
Now considering that we have hit the support at 1.64740 as per 15 min macd and considering that this support does not break

We might go back to kiss the yellow line at 1.6520 once more before dropping back down.

Either way, I will wait for a proper trade entry on 15 min first.
Quoting jack.canadia
An almost 3k profit on a sunday. Good for you!

.. Expect a bounce near 6440... 38.2% fib and Daily M2 pivot.
yep, i am expecting the same here.
  • #471
  • Jun 29, 2009 2:37am Jun 29, 2009 2:37am
Quoting pino2
What made you opened this trade @ 1.6520 and TP is 1.6400?
and what made you closed it only for 30 pips?
Sometimes, its wiser to book profits when you have them, instead of getting married to the position.

I booked profits then went for a shower and sleeo for a few hours, came back to see the reaction I was expecting ...........
  • #472
  • Jun 29, 2009 2:44am Jun 29, 2009 2:44am
I would love to place a sell limit at 6615 or 6618 instead of opening any trade here
  • #473
  • Jun 29, 2009 2:46am Jun 29, 2009 2:46am
Quoting forexlion
I would love to place a sell limit at 6615 or 6618 instead of opening any trade here
6618 is a tough monthly resistance and a compulsory requirement if there has to be any breakout to the upside.
  • #474
  • Jun 29, 2009 2:51am Jun 29, 2009 2:51am
Hi lion.

I think we're still in this bottleneck & as long as the utl resistance @6555 level holds, we're likely to head back to the ltl @6390 level. No breakout for me yet atm.

Good luck
Attached Image (click to enlarge)
Click to Enlarge Name: gu4r.JPG Size: 72 KB
Thank You
  • #475
  • Jun 29, 2009 2:55am Jun 29, 2009 2:55am
Quoting forexlion
Sometimes, its wiser to book profits when you have them, instead of getting married to the position.

I booked profits then went for a shower and sleeo for a few hours, came back to see the reaction I was expecting ...........
  • #476
  • Jun 29, 2009 4:35am Jun 29, 2009 4:35am
Quoting wormboy
Hi lion.

I think we're still in this bottleneck & as long as the utl resistance @6555 level holds, we're likely to head back to the ltl @6390 level. No breakout for me yet atm.

Good luck

nice chart and bias.....
MY OPINION NOT FINANCIAL ADVISE
  • #477
  • Jun 29, 2009 5:41am Jun 29, 2009 5:41am
Quoting donfriday
nice chart and bias.....
Thanks.

Previous h4 had closed failing to breach the 6555 utl resistance. Down back to 6390 ltl still looks the likely target since there isn't much data to be released today that could help push cable for a breakout in either direction.

Good luck
Attached Image (click to enlarge)
Click to Enlarge Name: gu1w.JPG Size: 71 KB
Thank You
  • #478
  • Jun 29, 2009 5:51am Jun 29, 2009 5:51am
Quoting wormboy
Thanks.

Previous h4 had closed failing to breach the 6555 utl resistance. Down back to 6390 ltl still looks the likely target since there isn't much data to be released today that could help push cable for a breakout in either direction.

Good luck
Are you saying breakout? I hope so as PA is extremely boring since Friday.
  • #479
  • Jun 29, 2009 5:59am Jun 29, 2009 5:59am
Quoting wormboy
Thanks.

Previous h4 had closed failing to breach the 6555 utl resistance. Down back to 6390 ltl still looks the likely target since there isn't much data to be released today that could help push cable for a breakout in either direction.

Good luck
all my bias till now is bullish for Gu and GJ here is my view base on 1hr gu..
we should have a weaken dollar or so this week nfp..
or what u think ..

sorry i mean rsx macd hit above 0 line
Attached Image (click to enlarge)
Click to Enlarge Name: hmm.gif Size: 36 KB
MY OPINION NOT FINANCIAL ADVISE
  • #480
  • Jun 29, 2009 5:59am Jun 29, 2009 5:59am
Quoting pino2
Are you saying breakout? I hope so as PA is extremely boring since Friday.
Lol I know what you mean. Actually we've expected this consolidation about 2 weeks ago. Didn't realised we've had to wait this long for a breakout. Here is the original chart :
http://www.forexfactory.com/showpost.php?p=2800370&postcount=1358

Unless scalping, attempting to call the direction today for a continuation is foolish.
Stay on course my friend. This week is not the week you would want to be caught out on the wrong side of the trade.

Good luck
Thank You
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