I entered GBP/JPY at 136.69 (yellow circle), based on the 30 EMA system on daily time frame. The pair also touched the support trendline (magenta) at 135.70 area and bounce for almost 200 pips at the moment. Retest to 135.70 area is very possible. The first target upside is the 38.2% retracement of 215.85 to 118.80 at 155.87. Next target are 50% retracement at 167.32 and 61.8% retracement at 178.78. Stop loss level is below the trendline.
Monday, March 30, 2009
Entry: GBPJPY Buy Signal
Saturday, March 28, 2009
Update: GBP/USD Closed 510 Pips
After pushing 900 pips on Tuesday, GBP/USD fell on the remaining days this week. The pair is now at the 30 EMA on Daily chart. I decided to exit the position with 510 pips and open again at 1.4330. It is a good entry signal I think: price at 30 EMA and QQE cross down. Stop loss also has move to 1.4000. Target remain at 1.6200-1.6428 (38.2% Fibo retracement). Another levels of retracement are 1.7331 (50%) and 1.8235 (61.8%). However, there are
Thursday, March 19, 2009
Update: Closed EUR/USD 100 Pips Below Target
I finally closed my EUR/USD at 1.3492, just around a hundred pips below my initial target at 1.3580. I know I should let it reach the target although it may not, but it is a 70% return to my account (949 pips). There is also a technical factor. The pair is at 30 EMA area on weekly chart and that means sell. Below is the EUR/USD weekly chart.
I still have GBP/USD open. The pair closed above 30 EMA on daily chart and seems promising to continue its way up. Okay that is it. Hope you guys also banked some pips in last night movement after the news. Happy trading guys!
Wednesday, March 18, 2009
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