GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies
Auslanco - GBP/JPY and GBP/USD (newstrade) 235,578 replies
long eur/jpy, gbp/jpy, usd/jpy 11 replies
GBP/USD, GBP/JPY trading, my journey 34 replies
Gbp/jpy = Gbp/usd X Usd/jpy ?? 5 replies
DislikedAh, I am a bit slow! Don't despair, if its going to happen take it as a lesson and next time trade Trendlines differently! And we are about 100 pips from the trendline, if 100 pips is killing your account then you overleveraged by a factor 20, so update money management rules. The important thing after the loss is that you analyse posible mistakes and learn from them! Good luck!Ignored
DislikedI won't buy too much into that discussion, other than to say that I can run a several hundred pip drawdown without losing any sleep.Ignored
QuoteDislikedAlthough I guess it makes a BIG difference if you can hedge. But that's a whole different argument.
QuoteDislikedIF we were to reach the 130.9 or so possible trendline, that would very much support the original idea that GJ lives in a rising channel/wedge.
QuoteDislikedIt's been in its wave 5 (last wave) for some hours now but appears to be losing a lot of momentum. In fact it is quite possible that it has either completed the very final move of wave 5, or may be forming a small diagonal (ending) triangle at the top.
Operating solely on looking at waves and their lengths indicated a possible end at around 130. ( wave 5 length = wave 1 length)
QuoteDislikedThere's significant divergence on lower/mid time frames, so unless it gets a real boost it may finish soon. Or, as often happens, it may extend.
QuoteDislikedI still think it's in a reversal pattern. But that pattern just got a bit taller and wider.
DislikedWell I wasn't discussing this with you, but since you are now part of discussion on MM, would you disagree with my idea that what I implied is correct (that a 2000 pip draw-down should not kill your account)? Also, I wasn't aware you are in the Sell, may I ask from what level are you selling?
I have no significant sells
Yeah, a 2000 pip draw down would be a total pain. But you just have to manage it. maybe take a small loss when you decide it's too much. But you know that someday you'll get out of it. Money Management!!!
I agree, but...Ignored
DislikedWhilst you had your head on your pillow, there was heaps of divergence on lower timeframes. That was taken out with the next 35 pip move up. You shouldn't sleep so much!!
By the way, GJ spent days/weeks getting above the 61.8 retracement. At around 129.9 it broke the 76. GJ LOVES to go to the 76. Usually just above
You should be bloody happy that your 130.5 came along. I'm off outside to have a glass of wine for you!Ignored
DislikedThere is a reversal pattern and a bearish divergence in 4hr, daily chart and on weekly chart and i believe there will a reversal, a big drop. It can even fall down to 121-120. So just watch it and it shall happen. I am already selling off, and i am gonna make my cool large pips. Good luck to you all.Ignored
DislikedThe guy's right and he's wrong. There is no reversal pattern. There is no significant divergence.
But there has been completed a clear 5 wave move ( so far). It has reached three levels of technical resistance.
It will either extend further from here.
Or, yes, it could crash dramatically.
If it gets above 131, it goes up furtherIgnored
DislikedThey say its a zero sum game, so someone has to provide liquidity.
I curently see to price action for short, but...yes, it can crash dramaticly.Ignored