Comments on: GBP/JPY Weekly Analysis (Wk Strt May/31/09)

By: Alp

Alp — Tue, 02 Jun 2009 06:54:47 +0000

Nick i use Oanda, far as i know they don’t have any alarms : do u use GFT? do they have demo accounts available, i should probably switch over to them.. i’m in australia and a couple of my friends use oanda so i figured i’d go along with them

By: ThePhoenix

ThePhoenix — Mon, 01 Jun 2009 19:49:48 +0000

Grahhhhhhhh! Man I’m having that, “I missed out feeling,” price went 314 pips from my entry, and I set TP at +50. Didn’t jump back in as I didn’t want to mess up a good day, with a hasty entry.

Anybody catch that whole break?

I’m trying to figure out what time the break was, in central time? It broke when I was in bed.

By: NickB

NickB — Mon, 01 Jun 2009 16:29:55 +0000

@ThePhoenix:

You could alyways split positions. One closes at 50 pips the other at 100 pips. However, you will find that scalps often turn after 50 pips so I do not do that. Int he logn run the greedy guys end up blowing their accounts.

153.44 is not a scalp but there is definitely some support in the area.

By: NickB

NickB — Mon, 01 Jun 2009 16:27:15 +0000

@chijindu:

Of course I am, I am so cool!

By: NickB

NickB — Mon, 01 Jun 2009 16:26:44 +0000

@willj:

It was a quick one, good work man!

By: NickB

NickB — Mon, 01 Jun 2009 16:25:56 +0000

@Alp:

What happend? Didn’t you have SMS price alarms set up?

By: Alp

Alp — Mon, 01 Jun 2009 15:03:38 +0000

god damn it, i missed the break.

By: willj

willj — Mon, 01 Jun 2009 14:45:43 +0000

thanks Nick, took 50 pips in 9 mins on the break of the 155.70 line. Could of easily taken more but wasn’t around to manually trade it, still happy, Will.

By: chijindu

chijindu — Mon, 01 Jun 2009 14:43:52 +0000

thanks nick………..the analysis was worth it..ure still the best

By: ThePhoenix

ThePhoenix — Mon, 01 Jun 2009 14:13:05 +0000

I took 50 pips on this one thanks nick. Set it before bed. Set tp +50 and an, “o crap,” SL of -70, since I couldn’t watch and don’t have a cell for alarms yet.

Had I not set a TP, when I got up this morning it would have been +117 pips. O well, 50 is great too. Pigs get slaughtered, right.?

I wanted to ask what you think about the 153.44 area as well. I’ve got 4 bounces on it, before this recent scalp line. Is that significant? Can it be used for a line trade now?