This hit the resistance area so profits should have been taken.
Now keep an eye out for a breakout again.


dl.dropboxusercontent.com/u/4899609/gbpjpy2ndapril2014.png

This has broke out nicely and is currently nearly 200 points in profit. This currency is volatile so this move is normal really.


dl.dropboxusercontent.com/u/4899609/gbpjpy30thmarch.png


Hope some of you made some money on the back of this tip

looks like it is on it's way

Im gonna go long on a breakout past 169.71...Stops will be below the trend line.
If it breaks out then this could go towards the top of the triangle.


dl.dropboxusercontent.com/u/4899609/gbpjpy26thmarch2014.png

Stop loss activated...

im planning on going short on first attempt of major resistance at 163.05 with a 40 point stop only for today.
I will close my previous long greedy trade here as well and reverse the trade.
use tight stops


dl.dropboxusercontent.com/u/4899609/gbpjpy21stnov.png

Closed half @ 159.856 with a 66 points profit (more than 1:2 R:R)
SL for the rest moved to profit to let it run for the triangle breakout

good spot red chilly
This is one volatile currency so hope your stops are enough.
im long as well and my stops are below 158.80...im using 40 points stop and that may not be enough with this pair
fingers crossed

Long @ 159.194
SL 30 points

kudos - that's what i call a pop n go !remo wrote:

That broke out nicely ;)Thats what you would call a break out



up 50+ pips...told you not for the faint hearted

This looks like its getting ready to breakout to the upside again...
This currency pair is not for the faint hearted due to the massive swings

This ones near the highs again. That hammer trade for the short term was good but now it looks like a flag continuation pattern has formmed so if this breaks out past 1.4424 then it could motor a lot higher.
one to watch or trade

remo wrote:
Keep your eye on a right shoulder formation here in the next few days. Neck line bounce here?

Hammer formed right at support. One to watch or trade
possible Entry half way down the hammer with stops below.
target will be the highs again

Ok found some time so will use the iPhone to try and explain.

I've been doing most of my research on fx at the moment (as you can probably tell with my post) and looking at price action in particular.
The set up for the trade has been brought to my attention on another forum.

It's basically a head and shoulders play on the hourly and a retest of the neck line. Right shoulder very important and indicating a lower low from the top.





The support resistance line shows this.
The next line SR line is where I expected the next retest to occu.

RMc

Hi Remo

Will post a better chart later with instructions later as no proper chart access.
It's all part of the forex price action I've been researching.

RMc

Hi Remo

Will post a better chart later with instructions.
It's all part of the forex price action I've been researching.

RMc

hi ross
what got you into this trade???

Just want to show you I'm short on this at the moment




Sorry poor quality on the iPhone

RMc

Green stop
Red entry

Ps. Remo yes it is a free trade now