Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

torero

Anyone trading GBPJPY?

Recommended Posts

I'm weak on the range play so I prefer the breakouts. Fighting for teenies is not my style at all. Last week was caught in a tight range so tight even I didn't feel had enough room to maneuver my profits. Oh well.

 

Hopefully this week, the condition goes in my favor and move this badass.

Share this post


Link to post
Share on other sites

There should be some pre-ECB / MPC positioning over the next day or two which should influence this cross pair (and eur/jpy), if it hasn't already happened. But generally, I wouldn't expect any serious breakout activity having stronger momentum until after the rate decisions come out. I'm therefore still happily playing the range. A good sign is the contracting range. Eur/jpy has a nice triangle formation on the daily charts that should be playable in the not-too-distant future.

 

Happy hunting, Torero!

Share this post


Link to post
Share on other sites

A non-event today, with little or no interest in this, or any of the popular pairs. It’s drifted in light New York trade & the low risk shorts still hold the upper hand into Tokyo.

 

Sentiment remains mildly bearish, with COT flows flattening. It’s pretty much neutral regards main drivers on this one with all the talk of BOE rates & (on/off) risk aversion on the front burner.

 

The supply has churned over remarkably well considering, but if you’re short this pair (which has remained the clever play), you might want to use the near term techs to re-adjust your weighting again into this week action, as was the case lower down off the 205.0 dble bottom print.

 

One of the tech fella's here reports Fib interest at current levels from the kick off 205 to the recent heights up at 214.0 for those of you who follow that stuff.

 

Apparently, it bounced a 50% on Friday at 209.30 & presently resides at the 38% here at 210.50.

 

Anyhow, clear upper-lower markers are very visible & tradeable.

techwatch.jpg.415f41457c874685df30efb19dbe1bf0.jpg

techwatchcont.jpg.64befe1af8aa58202553da98458ca336.jpg

Share this post


Link to post
Share on other sites

Slightly off-topic, but since this seems to be where the chit-chat currently is... eur/jpy has broken the triangle that formed over the last week with today's dismal ISM non-manufacturing number. Wish I would have been privy to the leaked news, but I wasn't watching their web site like a hawk. I hope you're able to catch a ride on the next pull-back, Torero... I'll certainly be watching closely.

Share this post


Link to post
Share on other sites

Missed the move earlier this afternoon (went out to lunch, thinking nothing was going to happen since it's been dead all monring, doh!!!). Yeah, watching for the train to slow down so I can get down wit dit. Nice little flag forming right now. Hope that's the train!

Share this post


Link to post
Share on other sites

I was away from the screens when the news hit as well. No biggie... I hadn't planned on trading anything until after the news hit the wires anyway. There's always a pull-back of some sort to hitch your wagon to on these intraday frames. I was hoping for a slightly deeper pull-back post-ISM, but it doesn't look like it's going to work out that way this time. It was a pretty ugly report.

Share this post


Link to post
Share on other sites

This week GBPJPY has been behaving much better, none of that erratic whip and pull stuff like end of Jan. It fits my style better to just pyramid positions nice and slow. I can do this all life!

Share this post


Link to post
Share on other sites

Hi,

I'm tradingforex since several y and using a autom.Softwaretool since 6months. Depending on the market flow and my own risk management, this system kept me in the market on a save base. On the other side, when I was trading in different systems without autom.Signals, I've got lots of difficult moments, as we all know, handling the question, where to put the stopline/TP-line. However in the moment I feel quiet save and I'm trading also GBP/JPY and all the other high speed pairs (not together !). But now I must not whatch all day so I can be also focused to different markets(CFD,Stocks, Futures) as well in the same time.

Share this post


Link to post
Share on other sites

Is it me or is the last few days the GBPJPY and EURJPY markets have been in a tight range? I've been getting a lot of false breakouts here. Not sure if it's the beginning of the month thing or what. Even somewhat important news don't seem to budge them too far.

Share this post


Link to post
Share on other sites

I'd say the range is still pretty good for trading just not for trend following. Time to take a break for traders who capitalized on last weeks drop-retrace-drop action.

Could just be a minor pause before conditions change again.

Share this post


Link to post
Share on other sites

Not surprising really torero. Geppy has plumbed 10 handles (1,000 pips) in 3 session closes from the strong 213.0 ceiling, stalling out at decent support from 4th Q 05-1st Q 06. Fierce thrusts like that require a breather to assess the damage before considering their next move.

 

Risk aversion has continued to spook these instruments & the 2 way flows will be jerky affairs until one side or the other gains a confident foothold. These pairs, particularly Geppy, sure require a trader to adopt & embrace a well defined trend/range combo strategy.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • ...hallucinates.... Student: “What if we gave the monkey LSD?” Guru: “The monkey already did LSD”
    • Question: To those that had/have cancer, what were the signs that made you think “something is not right here” to make you go see a doctor? Answer: So, 5/25/2018, I woke up, got ready for work, and as I walked to my car, I started gagging. Like something was stuck in my throat and I needed to clear it. And then it went away.   But 10 minutes after that, I was T-boned at 40mph on the driver side door. But what made me see a doctor was while my muscles felt better and bruises were going away, the gagging still continued, I started having fevers, my neck felt swollen, I was having such a hard time breathing, and I'd have random sharp pains in my chest, but not from where the seat belt saved me.   2 weeks after the accident, I finally see an urgent care doctor, who looks me over, tells me I'm fine, but luckily requests a neck X-ray. And I ask for a chest X-ray, which he rolls his eyes but let me have (most of my pain was in the neck, so I understand).   The very next day, he calls and says “So, that chest X-ray shows there's a 4 inch mass on your heart and lungs, and your lungs have been filling up with fluid, as well as in your pericardial (heart) wall. We need you to come in tomorrow.”   Turns out the big mass, due to the accident, caused my heart and lungs to tear and fill with fluid, the swollen neck and gagging was caused by 2 metastasized tumors, and the fevers and weight loss were symptoms. Stage 4b Hodgkin's Lymphoma.   But thankfully, we went very aggressive with chemo (and had a lot of bad side effects that don't normally happen to patients), and now I'm about 16 months cancer-free. Yay lucky X-rays! Rachel Jurina, Quora Source: https://www.quora.com/To-those-that-had-have-cancer-what-were-the-signs-that-made-you-think-something-is-not-right-here-to-make-you-go-see-a-doctor   Profits from free accurate cryptos signals: https://www.predictmag.com/  
    • As a man, the reality of life is the harshest part. I don’t mind looking older or becoming weaker over time; it’s nature.   Have you ever heard that the only people who will be loved unconditionally are women and children? Men will only be loved as long as they can provide until they are no longer needed. It doesn’t matter if you already did your best to get your kids to the best school or get the best things for them, if you stop before they’re done with it, there will be no thank you. The only thing they will remember is that they have to quit school at 15, ignoring all the previous 15 years of life you provided for them. The only people who will accept you, no matter what, are your parents. But in this situation, you might be that ungrateful child.   EDIT: Wow, I didn’t think this would get so much attention.   For those who disagree, I can only say that everyone has their problem. If you don’t get the chance to face such a thing, be grateful. Remember, sometimes what you throw in the garbage is something that someone wishes ever to have.” – ElZee, Quora   Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • The good thing i had noticed so far is that the traderpot value is also on the rise..
    • yup its a gradual rollout the right way in my opinion, its really good and its exciting for the sto in 2027
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.