smbtnt

I went off cable ( the only fx pair I enjoyed trading) after the dire price action in April, May and June. It opened up abit in July for me and I have started taking smaller positions since mid july. It's been a positive start and hence interest in GBP/JPY. Hows it going at your end?

Good, the fact we are not closing above 211.50 also tinges this pair with a bearish flavour, for now anyway. As an experienced GBP/JPY trader; do you feel the round numbers (50, 00) play an important part in s/r as they do in cable?

I assume you are expecting a close below 210.70 on this 4hr and hence the short. May I ask why if you dont mind please? Its just that we have not had a close below that level for 3 weeks and everytime we do dip below we seem to close above... Could it be the lower high and lower low closes?

A messy ride down to 209.50-208.50 is plausible, which logically is everyone's hotzone.... I will be monitoring and placing limits as we enter the said level... An hourly close below 210.70 would prompt to short this pair...

very rare day indeed fw. The velocity and thrust which we V'd off 400 and busted resistance at 480 without a decent pullback upto 630 zone was unbelievable. As pointed out by yourself, thereafter it was case of implementing basic TA with logical stops at swing lows being an uptrend etc. Your point about market travelling up another 100 points was valid, the evidence in favour far out measured a friday afternoon sell-off. The double top on daily at 670 was Resistance. Chances of it droping without testing this zone was unlikely. Thus a 630 breakout entry was on imo.... The follow through 7th Aug after the DT was engulfed by the 8th daily forming candle thus invalidating the 7th and hence exhibiting confirmation of a higher low as opposed to a lower high on the daily swings. After closing above 670 it was a case of trailing stop on the 15min lows. Eventual exit at 720. One would only be comfortable trading the above if one's sentiment was overwhelmingly bullish for the day's close.

cahoonas to short this Phil.....

lesson learnt, she came intraday.....

v off a 2b interesting, 400 seems massive now... a bit lost now...

exit sucks...again! but expected another reaction at 430 which duly came, should have held out for 400 n'est pas!

all out at 430 -let see what intraday delights we have in store....

Expecting a reaction at this zone so shorted 480...

Hi Guys, Unbelievable dollar strength this morning, commodities selling off, chf, euro and jpy weak, why are the futures not rallying? Whats going on? Started yesterday and yet the markets sold off all day... Higher lows on YM at 100 200 and 400...target 800? Also the double top at 670 has not followed through unless we make a lower high next week. I just see this as strength all round for the indices unless ofcourse the correlations have somehow been askewed???

long 273 - tight stop

a day to enjoy the sun I feel, what a terrible mess on the dow, well so far anyway, fridays support is today's resistance..or is it? heads or tails?

Scaled out at 360... rest at 401

well done mate, I had a long signal on this index at 12.00 UK but was not familiar with the mood of this instrument, hummed and harred for a few minutes before passing the trade...

Yes waiting for confirmation on 420 reject, lower low then lower high off a swing level yesterday and the fact this zone has been pretty active in terms of volume but principally the fact that Nq struggled at 1844 level, which for me was more significant than YM's 420 thus I awaited confirmation after the double top at 420....

I can see why you entered there, all three indices have stalled at yesterdays swing level. Lower high short entry 410

a bounce at 330 looks ominous for the bears - needs to take out 400 though...

I think my question has been answered. Thanks.

Dax looking seriously cheap at these levels? not familiar with how this instrument moves, any dax traders think this zone or volume is significant enough for a reaction?

Maybe this is the right place to ask about this candlestick. Not sure if it has any significance but it sure looks like a temporary halt on proceedings. Any ideas. YM chart attached

Strange goings on - crude, gold and euro sellling off and my YM 580 long is struggling at 630. One of them soon is either at support or resistance... or both..f you catch my drift...

Reacting off March lows, today's close will determine whether we retrace for the rest of the week..

Looking for shorts now, anywhere from here to 700