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07/23/2009 GBPJPY Trade 1

July 23rd, 2009 / One comment - (Comments are closed)

Short 1 lot (1,000 units) GBPJPY @ 5659 Stop @ 5675 (-16 pips) Target @ 5643 (+16 pips)

Confidence Level: 5/10

Reasons to enter trade:

Bounce off previous high on 1 hour chart Bounce off M5 pivot

Click above for larger image

The price could go higher, price is respecting the bottom of the [...]

07/17/2009 GBPJPY Trade

July 17th, 2009 / Comments are closed

Short 1 lot (500 units) GBPJPY @ 5301 Stop @ 5320 (-19 pips) Target @ 5282 (+19 pips)

Confidence Level: 5/10

Reasons to take trade:

Bounce off the big figure at 5300 Bounce off S1 pivot Bounce off previous support

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Closed whole position @ 5296 (+5 pips) because price [...]

07/15/2009 GBPJPY Trade

July 15th, 2009 / One comment - (Comments are closed)

Long 1 lot (1,000 units) GBPJPY @ 5304 Stop @ 5285 (-19 pips) Target @ 5323 (+19 pips)

Confidence Level: 7/10

Reasons to take trade:

Positive Caimant count GBP news Bounce off 5300 big figure Pivot point support bounce Support at previous daily high Strong upward bias

Click above for larger image

Closed 500 [...]

07/09/2009 GBPJPY Trade 2

July 9th, 2009 / One comment - (Comments are closed)

Long 1 lot (500 units) GBPJPY @ 5106 Stop @ 5080 (-26 pips) Target @ 5126 (+26 pips)

Confidence Level: 5/10

Reasons for trade:

Bounce off 5100 big figure level holding Holding above M3 pivot Higher highs/lows on 5 minute chart

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Stopped out for  a -26 pip loss.  I [...]

07/09/2009 GBPJPY Trade 1

July 9th, 2009 / One comment - (Comments are closed)

Short 1 lot (500 units) GBPJPY @ 5090 Stop @ 5125 (-35 pips) Target @ 4895 (+195 pips)

Confidence: 5/10

Reasons:

Looking for bounce at M3 pivot, Former support level 79% Fibo retracement Near 5166 fractal on Daily chart

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I had put in a limit order to take off [...]

07/07/2009 GBPJPY Trade

July 8th, 2009 / One comment - (Comments are closed)

Long 1 (500 units) GBPJPY @ 5316 Stop @ 5265 (-51 pips) Target @ 5384 (+68 pips)

I was looking for:

A bounce off 5300, the big figure Previous low @ 5300 Pivot point

Also:

There was a MACD divergence, possibly an early TriScreen trade. It was late in the NY session, volume might dry [...]

07/02/2009 GBPJPY Trade

July 3rd, 2009 / Comments are closed

Short 1 (1,000 units) GBPJPY @ 5825 Stop @ 5845 (-20 pips) Target @ 5805 (+20)

Reasons for the trade:

Pivot bounce at 5822 Former support level Trendline break with convicted candle signaling possible downward move

Confidence level: 5/10

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Took off 800 units at 5805 for a +20 pip [...]

06/29/2009 GBPJPY Trade 2

June 30th, 2009 / One comment - (Comments are closed)

Short 1 (500) GBPJPY @ 5925 Stop @ 5950 (-25) Target @ 5900 (+25)

Reasons for trade:

Bounce off former support Bounce off M3 pivot Bounce off resistance @ 5921

Confidence in trade: 7/10

Closed 450 units @ 5917 for a +8 pip profit.  Moved the stop on the last 50 units to 5920 [...]

06/29/2009 GPBJPY Trade

June 30th, 2009 / One comment - (Comments are closed)

Short 1 (800) GBPJPY @ 6003 Stop 6033 (-30) Target @ 5973 (+30)

Reasons for trade:

6000 big figure bounce 4 hour support/resistance Pivot @ 5998

Confidence: 5/10

Price looked extended at this level and I was looking for a bounce at these levels.

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Price moved in my favor [...]

06/17/2009 GBPJPY Trade

June 17th, 2009 / One comment - (Comments are closed)

Hi Everyone,

I took a small scalp trade last night.

Long 1 (500) GBPJPY @ 5727 Stop @ 5700 (-27)

Looking for a bounce off the trendline and the M2 pivot.  Since this wasn’t what I would consider a really “hard” level where price would bounce significantly, I was cautious.

Click above for larger [...]

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