Well it figures that she (gbp/jpy) waited until Friday to fall out of bed. 
Hopefully she's getting primed for a good move to start next week.
Hopefully she's getting primed for a good move to start next week.
Addicted and proud of it!
- #3,644
- Sep 11, 2009 8:42am Sep 11, 2009 8:42am
- | Joined Dec 2006 | Status: AKA "Yen" | 1,654 Posts
With nothing to do but speculate until the new trading week rolls around, this could be an interesting week to come. GBP/JPY appears as if it will end the week sitting squarely on a previous resistance point (check April and May arrows).
When price was moving up and hit the 151 resistance area, it fell around 1200 pips in April, and around 800 pips in May.
If price breaks through support next week, there's minor support at 149, but the major support level is around 147. That would be a 400-pip ride.
On the other hand, if the 151 area holds as a support level, take a look at the next major resistance levels . . . around 160 and 163.
That would be a nice ride indeed, and a great way to end the summer doldrums.
Will it happen? Beats me, but at least it something to ponder going into the weekend. Enjoy your weekend, guys and gals.
When price was moving up and hit the 151 resistance area, it fell around 1200 pips in April, and around 800 pips in May.
If price breaks through support next week, there's minor support at 149, but the major support level is around 147. That would be a 400-pip ride.
On the other hand, if the 151 area holds as a support level, take a look at the next major resistance levels . . . around 160 and 163.
That would be a nice ride indeed, and a great way to end the summer doldrums.Will it happen? Beats me, but at least it something to ponder going into the weekend. Enjoy your weekend, guys and gals.
Greetings from Guanajuato, Mexico 
- #3,645
- Sep 11, 2009 8:43am Sep 11, 2009 8:43am
- | Joined Dec 2006 | Status: AKA "Yen" | 1,654 Posts
You're right, it has. My take is that if we get a close down around the 150.50 area, then she'll likely continue down to the next support area around 149.00.
Greetings from Guanajuato, Mexico
Sorry, PipsAddict, you posted while I was typing more or less the same thought. Looks like we're in agreement.
Edit: Never mind, total brain fart there, didn't realize it's already friday, only about 5 more hours of open market left.
- #3,647
- Sep 11, 2009 8:51am Sep 11, 2009 8:51am
- | Joined Nov 2007 | Status: Addicted and proud of it! | 174 Posts
Sorry, PipsAddict, you posted while I was typing more or less the same thought. Looks like we're in agreement.
Have an awesome weekend everyone.... here's to big pipin' next week
Addicted and proud of it!
- #3,648
- Sep 11, 2009 8:55am Sep 11, 2009 8:55am
- | Joined Dec 2006 | Status: AKA "Yen" | 1,654 Posts
I was thinking the same thing, but according to the chart, our 150.5 is just around the corner, it could make it's major move today/tomorrow., as we just hit out 150.5
Edit: Never mind, total brain fart there, didn't realize it's already friday, only about 5 more hours of open market left.
A brain fart of my own, I guess. Greetings from Guanajuato, Mexico
- #3,650
- Sep 11, 2009 12:31pm Sep 11, 2009 12:31pm
Bal . . . thanks for the kind words.
I'll have to give London Pride a try. I have Old Speckled Hen frequently . . . it's just that here in Mexico, they serve it on a plate and call it Pollo Frito Viejo (Old Fried Chicken).
Yen, as always with you, there's a wee twist in the tail.
Cheers
Bal
The dream will never die
- #3,652
- Sep 11, 2009 1:46pm Sep 11, 2009 1:46pm
- | Joined Dec 2006 | Status: AKA "Yen" | 1,654 Posts
heres just another thought to ponder for direction next week. daily chart is setting up for a retest of the neckline in a macd divergence set up (head/shoulders pattern in attached pic). it may of course not play out but if i were to bet on a direction it would be down next week... grant
Greetings from Guanajuato, Mexico
- #3,653
- Sep 11, 2009 1:57pm Sep 11, 2009 1:57pm
- | Joined Dec 2006 | Status: AKA "Yen" | 1,654 Posts
Hi guys, heres just another thought to ponder for direction next week. daily chart is setting up for a retest of the neckline in a macd divergence set up (head/shoulders pattern in attached pic). it may of course not play out but if i were to bet on a direction it would be down next week... but what the hell do i know, price will go where price wants to
good weekend to you all grant
In the end, like you said, price goes where it wants to, so it could be an interesting week to come. I sure hope so.
Greetings from Guanajuato, Mexico
- #3,655
- Sep 11, 2009 8:01pm Sep 11, 2009 8:01pm
- | Joined Dec 2006 | Status: AKA "Yen" | 1,654 Posts
hey Yen,
i like to see the low between the 2 peaks broken (green horizontal line), then a retrace (at least 62 fib, normally 79 fib on gbyen) in to a right shoulder area for the set up to be complete.
cheers
Greetings from Guanajuato, Mexico
- #3,656
- Edited Sep 12, 2009 4:02am Sep 11, 2009 8:37pm | Edited Sep 12, 2009 4:02am
Hi, Still in pos one short with GY, I'd not put any validity endding ..Ive forgotten. So no interest for what will happen, would be pile or face. ( thinking about short but it is not the way of this Setup and if there is an accident in the week-end, 200 pips loss in a gap, already happened.. brrrr..)
Entry two pos short at 151.980 .
- plan was to exit one at TP1 , then get up the other SL at BE,
and Target for the other at TP3 149.700.
(TP1 was 151.220, TP2 150.460, TP3 149.700.)
- in fact, I've gone out manually one pos at nearly quater box loss. (-20P) the 8 th.. no good to ear the other angry about their SL and Bad Week..
and I'm still running with one pos at 151.146 (+83 pip less swap) .
( GY lowest this week 150.492 , so only TP1 would have been caught.)
Conclusion for my trade this week 37 :
1) why planning trade if I don't follow it.. . So, normally I'ld be today with twice pos and + 166 pips win... in waiting for monday's open .
2) it's a mistake of course, but always happened in trading, so, I'ld have to verify all the point of my trades after I had made them : trend, level, SL, TP and validity. If I'd done this +166 would be today in my bank !..
.
3) The choice of TP3, why not with a Stop loss at BE after half pos won at TP1,
but with just TP1 crossed,
that minds that it is what we have to try to find : what could , even during the week, help us to have a target adapted at the market of the week.( I mean a little more precisely ).
Scan
Entry two pos short at 151.980 .
- plan was to exit one at TP1 , then get up the other SL at BE,
and Target for the other at TP3 149.700.
(TP1 was 151.220, TP2 150.460, TP3 149.700.)
- in fact, I've gone out manually one pos at nearly quater box loss. (-20P) the 8 th.. no good to ear the other angry about their SL and Bad Week..
and I'm still running with one pos at 151.146 (+83 pip less swap) .
( GY lowest this week 150.492 , so only TP1 would have been caught.)
Conclusion for my trade this week 37 :
1) why planning trade if I don't follow it..
. So, normally I'ld be today with twice pos and + 166 pips win... in waiting for monday's open .2) it's a mistake of course, but always happened in trading, so, I'ld have to verify all the point of my trades after I had made them : trend, level, SL, TP and validity. If I'd done this +166 would be today in my bank !..
.3) The choice of TP3, why not with a Stop loss at BE after half pos won at TP1,
but with just TP1 crossed,
that minds that it is what we have to try to find : what could , even during the week, help us to have a target adapted at the market of the week.( I mean a little more precisely ).
Scan
- #3,657
- Sep 11, 2009 8:49pm Sep 11, 2009 8:49pm
- | Joined Dec 2006 | Status: AKA "Yen" | 1,654 Posts
Hi, Still in pos one short with GY, I'd not put any validity endding ..Ive forgotten. So no interest for what will happen, would pile or face. ( thinking about short but it is not the raison of this Setup..)
Scan
I notice you use the CCI indicator. That's the only indicator I use, but more as a reference point to look for divergence on the Daily chart. I see you have in on an H1 chart. Have you been using it for a while?
Greetings from Guanajuato, Mexico
- #3,658
- Edited Sep 12, 2009 12:12am Sep 11, 2009 9:27pm | Edited Sep 12, 2009 12:12am
Hi Scanner . . . nice work.
I notice you use the CCI indicator. That's the only indicator I use, but more as a reference point to look for divergence on the Daily chart. I see you have in on an H1 chart. Have you been using it for a while?
Nothing right : For the Ace System, Just put this capture in one hour to show best view, but I've Used Month and Week to follow up.
And CCI just to study because it integer a part of volatility.
But in fact, as Ace system was running , testing other set up from me to make an EA with 50 lots scalping following 1,5,15mn trend and bollinger.
Using for that the points of this indicator up on the left :
1) Each point is an UT 1,5,15,3,..month. Lighs are red when down and Blue when Up .
under them, there three alert : Trend Following light mean 5,60,and day are in the same trend. in the center light PULSE is off. when it is yellow, that means that volatility is in its max ( like one side bollinger crossed) ( that's means, perhaps go out soon..) and in the right, number with % red or blue, talk about the force of the trend. If it's color is inversed of the color of the trend , talk us about the probability in % that the trend will reverse soon.
2) Using Laguerre Plus DI to know where the price is on its long wawe
3) Using the BBflat to know more precisly the power of the present mouvement
4) Using R%williams(5) to know more precisly where the price is on its whort wave.
always jump from one to 15 and 60 each new mouvement to follow it.
Here the results of this week, but like this, each point cost 500$, and first entry are often with - 1500 € , so my Ea would have to be extremly precis...
All these indicators could be find on files of metaeditor unless the trend Following , this *indicator has been Built by a young French guy who've just open a blog this year about programming and give it free, name is Chris ( I don't know if I have the right to give it's link here, I shouldn't go againt the site rule).
All other one if for throwing an eye on, it is a real great site here, and it's really good to be able to talk open with men passionnate like me and only triing to win money on the market , not gourou saying nothing and stolen money in the pocket of the newbies !
Scuse me for my English..school is faraway..
- #3,659
- Sep 11, 2009 10:01pm Sep 11, 2009 10:01pm
- | Joined Dec 2006 | Status: AKA "Yen" | 1,654 Posts
Hi mexico 'sun, hello from Tahiti's Sun ..and I think about that, here we have Hinano beer..
All other one if for throwing an eye on, it is a real great site here, and it's really good to be able to talk open with men passionnate like me and only triing to win money on the market , not gourou saying nothing and stolen money in the pocket of the newbies ! Scuse me for my English..school is faraway..
As long as you're making money with them, good for you.You're now officially my favorite Tahitian trader.
To be honest, you're the only Tahitian trader I know, but even if there were two or three, I'm sure you'd still be my favorite.
Don't worry about your English . . . it's a lot better than my French.
Greetings from Guanajuato, Mexico
- #3,660
- Edited Sep 12, 2009 12:21am Sep 11, 2009 10:33pm | Edited Sep 12, 2009 12:21am
Thanks Scanner. If you can make sense of all those indicators, you're a lot smarter.
I have understood why I didn't understand nothing to the indicator !!
It is because we have to read them, each one for what they are making for and at the moment you need them. ( Thus, after you could make them more precisly with permanent optimization, like statistic each hour or more or less.. depending what you trade.)
For my purpose for exemple :
1st) I try to find visually a begin of trend on a long UT Month, Week,
Think about long trend.
2st) I look at the laguerre just on this big UT to know if its signal is at the law 0 or the bottom 1. if it is still in the half, I know that 's rest for me a long way to go to the bottom, better so if it is at its first quater of the road... the famous 20- 80, in fact, passed the 20 is like to be near the point to pass of a break out..
3st) going to UT 15 looking again at the laguerre, I would like that the signal is at the low place , so the way to go up is far away from my entry.
4st) if it is ok, I look at the trend Following and I wait that the 1mn begin red.
5st) I go to the 1mn and looking at the R% williams( 5) with is so nervous.
and I wait with it the moment where it 'll told me the red will reverse, so I'll enter, if alway red, going to the 5mn , with the R% too; waiting the endding of the red wave.
6s) As soon as the 1mn reverse a little, if the red on hesitate, and then, only, I look at the BBflat to look at the power of this trend, if it is enough strong, I enter.
after that I follow the UT15 trend Following. each time the 1 mn or after the 5 mn turn red, I follow carrefully with the R%, each time the 5mn turn red I look at too at he BB Flat and the % reverse to know if it is better to exit or not.
Like this I follow the trend, but the better is when I sleep..
as soon as I can put a good SL , I put a TP with UT Day or Week and Pitworks.. (S/R- trendline..)
In fact, all the indicator could be good, if you know in what chronologique moment you have to read it. SO I'M USING ONLY ONE INDICATOR Each time, not the same , that's all..
( and about the money win... it's a Demo account, so 50 lots is easy to say..in real trade, perhaps I'll byte the cheek of my wife !!)
But you know, it is really interresting to try with 20 or 30 lots on large UT.. try on demo... we learn something more, another vision of the Forex, perhaps the Funds vision ..?)
PS : I just realize that I've spoken without knowing you, I just bolt myself, so apologie if you know that already that, for me, from ten years on the market, having understood that only begginning of 2009...