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waasseemm, u r welcomed and hope we see your harmonic posts soon
Wow..Thanks a lot IBN for your perspective...I got into price pattern a week ago in GBPJPY after two years of making sense out of what these triangle means
Timing couldn't have being better, perfect head and shoulders to the T..text book pattern and the market down 2000 PIPS.
Could you tell where its gonna stop..my mental calculation and fibs have failed to predict a stop right now..not bad..yet..dont know when to close all trades
(don't)
as its keep going down..i though it would be 225ish the moment i came from my breakfast..the market piped to 221'ish...is there any bottom for GBPJPY or we could see 2007 'ish level..which is the only resistance i know from the lines.
thankscongratulation for the pips
the fall down were not normal trades situation
there were almost carray trade, done by japanese
in another word, they buy the yen at the beggining of the year (low interest)
and sell it for the rest of 2007
, so i don't know when exactly this will ends
but take a look at the monthley chart
yes..all the periods in GBPJPY are showing a down movement, Im short again
Its bull again..Lost 100 PIPS gained 150 PIPS..GBPJPY rocks..its gives second chance to live and correct your mistake you made in earlier lifes or this lifes
It had to go bull sooner or later after such a fall. I set two pending orders yesterday (before going to sleep) on EURJPY, one at +30 and one at -30. The bull one triggered, 120 pips profit for me at the moment.
I'm wondering is this just a reaction before the down move continues or did the down move exhaust?
Yeah ...Its hard to get the direction at the moment and a good way to go is breakout.
Good thing though is JPY crosses always move in one direction nearly 80 percent of the time, during the whole day..not flirty like GBPUSD, EURUSD ..so even if your are wroung at first, changing the position does not harm..
I think by the weekend we could get a picture if the carry trade continues or its carry unwind all the way. only thing is it should stay where it wanna go..not flirt around up and down
Good thing though is JPY crosses always move in one direction nearly 80 percent of the time, during the whole day..not flirty like GBPUSD, EURUSD ..so even if your are wrong at first, changing the position does not harm..
Exactly, that's what I like about JPY as well. I usually go for a breakout strategy with JPY (EURJPY, USDJPY or GBPJPY) and worked very well so far. Moves consistently thoughout the day and has a large daily range most of the time. I managed to get my account back up after a 48% drawdown doing this (and this was BEFORE the current JPY mountain).
yeah and also we do not have to worry about liquidity in JPY, high volume every day.
since the start of this year,,,,i could hardly think of any day without JPY not crossing 100 PIPS..and if it does not..know that 200 pip or more move is in store.
most of all no major news everyday to worry about.like in USD
aud & nzd failed
*
eur\cad
Gartley
wait for strong revesal sign
hi all
Eur-Chf
Gartley
aud & nzd failed
*
eur\cad
Gartley
wait for strong revesal sign+125 pip