GBP/JPY Trading 2008

Discussion in 'Forex' started by ForexPro, Jan 1, 2008.

  1. Paid 21440 on GBPJPY. Sold EURGBP 7478. Long USDCHF from 11078.
     
    #41     Jan 6, 2008
  2. st hit -66pips. The best trades are the ones that go your way more or less straight away. Next time i will exit straight away when the price action doesnt back-up my thoughts.
    I still feel sub 210 is on the cards, but we might get a retrace upto 220 before we get there.
     
    #42     Jan 6, 2008
  3. Almost hit my stop of 215.12. Now @ 214.50. Didn't hit the 215.16 resistance but the slide down is definitely running out of steam for now. Almost all exit conditions have been met and I expect my ATS to close fairly soon. However, if 213.50 gets broken to the downside any time soon - look out below.
     
    #43     Jan 6, 2008
  4. you meant 213.90 I hope. LOL
     
    #44     Jan 6, 2008
  5. Cambist

    Cambist

    LOL, yes thanks for catching that! Wow, could you imagine the draw-down one would be suffering if holding longs from 231.90? YIKES!
     
    #45     Jan 6, 2008
  6. At first I was thinking - Damn, he must be trading off a yearly chart.
     
    #46     Jan 7, 2008
  7. Short 215.88 st 217 tp 213.6
     
    #47     Jan 7, 2008
  8. Short was closed @ 214.58 for +1285p. Long was taken at 214.73. Stopped and reversed @ 215.79 for +106. Current position is short from 215.79. Current price @ 214.74. Protective stop @ 216.21.
     
    #48     Jan 7, 2008
  9. Out of G/J short for +72 pips and flat. We are right at daily pivot and we have sideways US equity markets.

    I'm also long G/U as per atticus .9728.. should see a decent bounce ahead of BOE decision.
     
    #49     Jan 7, 2008
  10. I think the BOE will cut again. Retailers had a poor xmas, couldnt give the stuff away, so it will hamper the pound.

    I stay short at 215.88 but my stop is at breakeven to reduce risk. Maybe the Aud/jpy is a more clear cut trade.
     
    #50     Jan 7, 2008