Careful of todays trading volumes seems exhaustive. the last power gasp before they buy the ---- out of it

Looks like the test harvested no sellers atm
long pounder 9194 sl 68 will dip a toe

__________________
"perception is the measure of evolution"
"chance favors the prepared mind"

hi...

I think the ideal situation is to get both jpy and gbp running in the same direction if one bounces then it does not mean you wont still have a winning trade it just means the pair thats running in your direction needs to move further..

__________________
regards

John M

Live long and prosper.
Any information in this post is for discussion purposes only.

Maratha

I'm tired from the last 24hrs so will probably set a trailing stop + a TP at 217.80 (just in case) then sleep once trade is profitable. I'm in lighter today than yesterday - did well but don't want to risk it all. If I was going in heavier (and staying up) I would have waited for Asia open.

Oh, those longs at 221 are absorbing the price action...moved stop to b/e on current shorts...

My gut feel is that if 221 holds through Asian open, then the further downside might be limited and I would exit my current shorts...

Dear Jack,

Given the momentum of current JPY strength, I doubt if any real bounce would happen before 210...but then, this pair has proved me wrong many a times!

__________________
"The market can stay irrational longer than you can stay solvent" - Keynes

same.....stop at b/e for 221.60 short.
thinking of closing the 221.20 at a loss.


WELL ----......couldn't even finish making the post before i got stopped.
closed 221.20

Same here..stopped at b/e for 4 PIPs profit...well, let's wait for a better opportunity...

The good thing is now, 221 is the level to watch for break lower...have a pending short at 220.80...let's see..

__________________
"The market can stay irrational longer than you can stay solvent" - Keynes

yeah.....kept flirting with closing that last short when it was only down a few pips.....

everyone still thinking a 100 pip drop??

good lord.....i make a post.......go back to the charts and look what happened.

Maratha,

yea indeed anything is possible, What are the yearly traders thinking, They are sooo deep in positions now they could see price go to 180 before they have to liquidate at breakeven open position, yet do they see this as a great buying opportunity cheap rates. Seems to have found solid support for at least now. Geppy has already dropped 8.43% consuming the last years trade. Can that be seen as just a liquidation while OI rises as the yealry guy accumulates. Early shorts entering late longs, both are holding. Too hard to tell what the motives are but the carry trade isnt disappearing ovenight.

__________________
"perception is the measure of evolution"
"chance favors the prepared mind"

Actually, I'm thinking of longing at 221.80...but my 'logical' brain is telling me to wait for Asian open plus one hour...

As of now, this looks more like stop hunting game of 120 PIPs...221.05-222.25...

EDIT: OK, made up my mind of staying out till Asia shows the direction... Sitting pretty till then...Jac, yes, it's difficult to see the direction in the choppy price action...

__________________
"The market can stay irrational longer than you can stay solvent" - Keynes

Just added another short at 222 - thats all I'm doing tonight. I'll run with these and see how I go

maybe we are just sketching out the yearly range, wouldnt taht be saweeeet

__________________
"perception is the measure of evolution"
"chance favors the prepared mind"

that 222 must be feeling better about now.

i'm flat and have no idea what to do. I've made and lost the same 200 pips like 6 times now.

a great quote by prolly the 1 of the best traders ever " I never made any money trading, i made my money sitting tight" Jesse Livermore

__________________
"perception is the measure of evolution"
"chance favors the prepared mind"

HA!!!!!!

i've been looking for a good signature line......i think thats one i should try and learn.

long at 222.25.
stop at b/e

Wow - good bounce
Stoppd out of my shorts - some BE, some small loss. I'm going to take a piece of that Jesse Livermore action and hit the hey

Good luck all