I worry a bit about my JPY long. It's looking very overbought and kinda toppish, plus we just kinda tested the 60% retracement level [on the daily] and it looks like a rejection. Actually probably even a good place to go short here.
Only part of the time, it seems. There was just a sell signal in GBP - but again with no confirmation from RSI. I have to make a decision: Keep RSI or thow it away? Need some time to think about it, and do some backtesting. Stay tuned.
Scientist, Well done - with your short Euro and GBP. Any comments/ideas to my RSI problem? It has cost me pips, and I don't like that.
Baruch, wtf are you talking about? GBP hasn't even managed to test the 2:00 est bar high, it missed it by 4 pips and turned straight around. And we're in a downward channel. I posted the appropriate charts this morning, hours ago. As for now, I can't complain. My EUR and GBP shorts are both nicely green already. Only thing I worry about is my JPY swing long. It's up a fair bit since Monday, just dropped below 200 pips gain. But on the daily, this looks like a great place to go short. Intraday, it looks a lot like rejection. Wonder if I should look for a place to reverse. The tape still looks rather bullish, like a big buying wave will come in (which could directly help my EUR & GBP shorts, too...) Any inspirations on this one? Anybody has a position in Yen?
Baruch, there was what looked like a cross buy on GBP/USD at 1.8140 between 6:30 am and 7 am ET, did you take it? I happened to buy at 1.8150 for different reasons (240m piercing line candle pattern among others)it went 10 pips higher then fell and I got stopped out at 1.8131, which also was a 50 MA cross sell signal for your system I suppose.
2/3 of profit taken as announced, covered here at 190 (tape going green now on size, seems a bit like support), net gain on on that part is +46 pips. Possible continuation play on rest, but stop now below BE (upper channel), so all profits locked in. Might also re-enter EUR short somewhere up higher (if it ever gets there). And if decent support builds up here, I might even play a long. Holding GBP shorts here, it has a lot more room to go on the south side. Holding JPY long also, still looking strong.
Wow. 1,200+ contracts went long at the market on this bar, it's all over... Holding JPY longs here with firm faith in the land of the rising sun. Hitotsu! Makoto Nomichi-O Mamoru Koto!