wasp

213.50 back on the cards....

Glad I was out. Everything gone somewhere except Yens who have retraced to the start again! What a complete waste of time for Yen pairs..................... I'm taking my +600 pips and going, have a good weekend all.

Nah! Its his 18th birthday and he is legally allowed a real brokerage account :rofl::rofl: Only if it goes back down!

technically still in an uptrend too.

Yes it is. I have never traded GJ over NFP. 600 seemed a nice round number.

I was in, took 9 to finish the week off with a round number (600) and I am staying out of NFP as I have never traded GJ over NFP and unsure. I actually think its 50/50 atm which is why I'm not in!

I think it can work as low as 30m charts but below that and it becomes a different story with much sharper trendlines that don't mirror a bigger picture. Not to say they can't work for a smaller TF player but in the grander scale of things, you won't see the same thing as one using 60/240m charts.

I favour the short side and this is where it will go!

There were 5 trades in that chart. Each time the trendline broke recent areas of S/R and through the trendline as annotated 1,2,3 and 4. Any prior breaks of trerndline were not couple with the break of S/R and thus not valid. EDIT: The 2nd 4 should read 5.

Closed for +9. Never traded GJ over NFP and dubious. Shouldn't be I know but still.... That's +600 for the week and I'm calling it a day/week. Have a good weekend all.

The echo rings for hours............... I might just close this thread.

stop moved to 208.15 (50)

Short GJ 207.65 + stop @ stop @ 208.65

Closed @ 207.70 for +130

stop moved up to 207.40.

I assume they are the same chart so just annotated one. Next......................

There are always prior levels unless we are talking all time highs from day 1. I must be honest and point out I don't even know how to draw a fibo on my chart properly, but anyhow, if there is new all time highs, how could a fibo project it? Don't they need price either end? Oh no, of course not, that was tongue in cheek. There is no one definitive obviously as that would meant the markets were so straight forward and predictable anyone could make money. S/R always means something IMO and if it tears straight through it, its as useful and important as if it reversed at it. IMHO it is the most important thing on my chart, second only to the candles/bars, mainly as they are the only 2 things on it mind! It can tell all, and always does. Exactly, the more people pay attention to something, the more important it is. If everyone at, where is it you work again, Deutsche bank, barclays...? :rofl: watched the RSI for oversold/bought areas, then that would be the way forward but of course that's all tosh. We'll let you off mate :o

Interesting GJ, I watch dailies as well as smaller TF's and whenever I stick on a fib level it always, and I mean always coincides with levels I have marked already as S/R. Its that age old question...........? What came first, the fib level or the supply and demand level?!

well, tbh, GJ was already ahead of EJ by a couple hundred so EJ was just playing catch up. I can't be in every pair so not that fussed!

That sods law malarkey playing up again........... Why did I just look at EU/GU and EJ. Why is the only market I have a trade in going nowhere why the rest make the best intraday moves in a month!

:o ...you can't even catch a 185 point drop! :haha:

Ahhh they'll never catch me, I'm like Kaiser Soze!

Did it say something along the lines of a retail trader is surpassing tier 1 banks in size and volume on GBPJPY during the UK/US sessions? I told them not to say anything!

:haha::haha:

...and breakeven stoploss. Not usual way for me but as I have a healthy return already this week plus dubious about this area anyhow, the 4hr S/R suggests safety and I am cautious today.