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GBP/JPY

  • #1,781
  • Oct 28, 2014 7:03pm Oct 28, 2014 7:03pm
CLOSE ALL TRADES
  • #1,782
  • Oct 28, 2014 7:10pm Oct 28, 2014 7:10pm
Looking like it wants to make another try to break the top trend line. Closed short positions and entered long...
  • #1,783
  • Oct 28, 2014 7:11pm Oct 28, 2014 7:11pm
Quoting PoundTrader
CLOSE ALL TRADES
News?
  • #1,784
  • Oct 28, 2014 7:24pm Oct 28, 2014 7:24pm
Quoting PoundTrader
CLOSE ALL TRADES
why?
  • #1,785
  • Oct 28, 2014 7:44pm Oct 28, 2014 7:44pm
Quoting benaiah
{quote} Good for you! I like simple Daily engulfing should be a high probability strategy that will have a good win percentage. It is a strategy I considered using. Also entering on a retrace, can significantly improve your R:R. These things happen all the time if you watch several pairs. Something I considered doing is only entering if there was a 50% retrace. That way, I decrease my risk by 50%, and exponentially increase my reward. A 1:1 becomes 1:3, a 1:2 becomes a 1:5, etc...
Thanks for your input.
Yes, I´ve also noticed how profitable is to wait for the retrace. I´m already testing that on a demo account.
I´ve been just learning forex for a few months, so the only system I have methodically applied is the "daily engulfing"
  • #1,786
  • Oct 28, 2014 7:51pm Oct 28, 2014 7:51pm
Quoting benaiah
{quote} News?
GBP consumer credit in 8h wih is not a high impact event and off course the fed s monetary policy statement, interest rate desision and statement on purchasing program. This shouldn't affect gbpjpy
  • #1,787
  • Oct 28, 2014 10:12pm Oct 28, 2014 10:12pm
Quoting benaiah
{quote} why?
i had to leave house this is one of those trades where you have to watch the chart a little longer then normal
  • #1,788
  • Oct 28, 2014 10:21pm Oct 28, 2014 10:21pm
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 2014.png Size: 284 KB


15 MINS time frame.
  • #1,789
  • Oct 29, 2014 2:13am Oct 29, 2014 2:13am
Quoting Barca
{image} 15 MINS time frame.
In order to go lower, we have to break the up trendline in my opinion.

As long as this trendline is not broken we still can expect higher high.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY_M15.png Size: 51 KB
  • #1,790
  • Oct 29, 2014 9:24am Oct 29, 2014 9:24am
Quoting benaiah
I will look for bullish reversal in the 174.10-173.96 area, to ride up to 175. This is my guess, anyway, as I expect the bulls to be ready and waiting around the weekly gap open...
Long from 174.11

Targeting 175ish
  • #1,791
  • Oct 29, 2014 9:49am Oct 29, 2014 9:49am
174.5 resistance so closed position, may re-enter on pull back to 174.3
  • #1,792
  • Oct 29, 2014 1:13pm Oct 29, 2014 1:13pm
Bought again at 174.11. Weekly open gap still holding. Seems like still a good buy as long as buyers won't let it fall below that gap, we are going higher, I think...
  • #1,793
  • Oct 29, 2014 9:35pm Oct 29, 2014 9:35pm
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 2014.png Size: 369 KB

30 Mins time frame..going down to 173.80 then 173.25/15
  • #1,794
  • Oct 29, 2014 11:01pm Oct 29, 2014 11:01pm
Just my take on this, but I'm not seeing any bearish intent yet with this pair. H1 chart shows the weekly gap (blue area) has held, and price has been consolidating in a bull flag formation (with one failed breakout attempt) which would appear ready to try and break out on the upside again.. Only way I'd become bearish on this pair, is if price broke below the base of the flag which also would mean it would have fallen through the weekly opening gap...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 51 KB
  • #1,795
  • Oct 30, 2014 10:54pm Oct 30, 2014 10:54pm
Attached Image (click to enlarge)
Click to Enlarge Name: GJ2014.png Size: 538 KB


Possible to target 169.50?? Any comments??
  • #1,796
  • Oct 30, 2014 11:56pm Oct 30, 2014 11:56pm
Holy Crap, I was long on a 5 minute breakout with a 10 pip stop. Checked my account several minutes later and thought the meter was broken and stuck on green. Wow. Thanks, BOJ.
There's always money in the banana stand.
  • #1,797
  • Oct 31, 2014 12:29am Oct 31, 2014 12:29am
Wow Go Yen masters

Take it all back

Love you long time

Very nice very nice

Longs smoked out

Lock in load

Gambling time
  • #1,798
  • Oct 31, 2014 4:12pm Oct 31, 2014 4:12pm
OMG the Pound/Yen shot up over 480+ pips today and I missed the whole dang trade.

Dang it!!!

Go look at today's daily candles on all of the Yen pairs. Pound/Yen had the largest pip explosion but USD/JPY and some of the others exploded too. If anybody was lucky enough to have BUY trades running on the entire Yen basket made a ridiculous cash fortune today!

You lucky bastards, and I wish I didn't fall asleep this morning...LOL!

Oh well, I guess I'll have to be ready for the next big moves like this...

It's time we stop entertaining ourselves and start realizing ourselves!
  • #1,799
  • Nov 3, 2014 1:24pm Nov 3, 2014 1:24pm
Don't be fooled by this sharp up move, GBP is already in trouble, look at BOJ monatery base chart and see how less JPY there is in circulation at this time compared with 6 months ago. Very hard deman for JPY can appear suddenly.

Attached Image (click to enlarge)
Click to Enlarge Name: boj base.png Size: 12 KB
  • #1,800
  • Nov 3, 2014 1:37pm Nov 3, 2014 1:37pm
Quoting ottmnslap
Don't be fooled by this sharp up move, GBP is already in trouble, look at BOJ monatery base chart and see how less JPY there is in circulation at this time compared with 6 months ago. Very hard deman for JPY can appear suddenly. {image}
what does it mean? :-)
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