critical zone 15100~15000
- #40,120
- Dec 4, 2013 3:42am Dec 4, 2013 3:42am
- Joined May 2012 | Status: CoC'd again ! | 8,578 Posts
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Suidster's GBP/JPY Discussion 19 replies
DislikedThis is nothing more than a healthy correction, probably even limited to intra-day action. It was due, and I warned about these markets moving in one direction to quickly. I don’t see this being a repeat of late May, however if it is, I hope you’re not one of those suckers buying pullbacks upwards of 100. If you’re not overly margined you shouldn’t be worrying too much, just yet.Ignored
DislikedHm, honestly I don't know much about opening/closing theory, but if this support holds, my theory about TP process which is happening at Nikkei/UJ (a healthy correction) would be proven. Let's see..Ignored
Disliked{quote} I also think there is good support in the 102.30 area, but I thought we needed something else to talk about too ;pIgnored
DislikedThis is nothing more than a healthy correction, probably even limited to intra-day action. It was due, and I warned about these markets moving in one direction to quickly. I don’t see this being a repeat of late May, however if it is, I hope you’re not one of those suckers buying pullbacks upwards of 100. If you’re not overly margined you shouldn’t be worrying too much, just yet.Ignored
Disliked{quote} It is the first time I've seen somebody consider a trendline valid after it has clearly broken, as you described. I will think about whether I am content with that.Ignored
Disliked{quote} i always like to back my analysis with a chart! now i take a trendline from 31st may low and you see how strong this trendline has been, it was broken twice, once to the down side and once to the upside. the ultimate retrace should be in the area circled in blue where that would be a bounce from the trendline and at the same time July high should act as a support as it was earlier a resistance. i personally took a long at 102.50 and planning to add 102 and 101.55, ofcourse if we get there. {image}Ignored
DislikedThis is why I always wait for daily close if I'm still in profit and my position hasn't been hit at breakeven. Daily candle was looking pretty bad, but having patience usually pays off. Massive 4hr pinbar that some traders here are talking about. I agree with Paulenok that this momentum should continue in Tokyo session. Here is my 4hr chart. Could be a huge day if this momentum follows through immediately. Don't want to see a stall here. {image}Ignored
Disliked{quote} I suppose you guys mean the NY close and the NY open when that talk is about daily close/open? I am in Europe so I would actually have a different open and close time if I used London open/close.Ignored
DislikedThis is why I always wait for daily close if I'm still in profit and my position hasn't been hit at breakeven. Daily candle was looking pretty bad, but having patience usually pays off. Massive 4hr pinbar that some traders here are talking about. I agree with Paulenok that this momentum should continue in Tokyo session. Here is my 4hr chart. Could be a huge day if this momentum follows through immediately. Don't want to see a stall here. {image}Ignored