Cambista
Short

Attention to the TL breakout

FX:GBPJPY   British Pound/Japanese Yen
225 15 5
Price is at 1H TL. Possible down breakout.
the trend was your friend on this occasion
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Hi Cambista,

Yes, the charts changed my mind. One fact about day trading. You cannot remain married to a trade. If the evidence shows otherwise, it is best to trust the charts and not your bias. Thus, my reason in giving you plenty of heads up of this change when I wrote of the bounce off of your TL. Also, I've always said that this pair is in an uptrend and my eyes have been on 140 for a long time. Tomorrow is Thanksgiving and historically, I've seen the GY go crazy as volume is depleted and the pair can travel quickly without any volume to resist it. Therefore, I wouldn't be surprised if this thing went super hot to 143. GL!
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Pivot_Panther Pivot_Panther
@Pivot_Panther, Hello again. I went back to trace my trading thoughts with you and I see you didn't quote my whole sentence +. ("However, with oil jumping, the stock market hitting new highs, tells me there still is some juice in this tank. I have moved my stops to BE, keeping in mind that this could move higher. If not, then I risk nothing and hopefully, something will trigger this move for a continued drop and the 132ish area"). You can see that I was hoping for a bigger drop (132ish), but I had quite a bit of skepticism. Sorry for any miscommunication. Although in fairness, I did give you a 1 hour warning before this massive move. GL!
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Cambista PRO Pivot_Panther
@Pivot_Panther, Don´t worry. I was waiting for the breakout to the down side. It didn´t happen. I didn´t enter the trade. Still waiting for definition.
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@Cambista, That's right - let the trade come to you, rather than forcing it. Great patience like that will pay off.
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Cambista PRO Pivot_Panther
@Pivot_Panther, Since you are an expert in this pair....what do you think it will happen now ?
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@Cambista, Still looking north. This pair still has pep in its step. I took my profits at 140. Now, I'll just be looking for the next entry long. Your 60 min TL once again helped me out, as it gave me confirmation that my long was on target. As before, looking at 143 as the next potential target. For now, it should just retrace and consolidate. I call it churning and burning. GY likes to coil like a spring and then explode. If you can follow this pattern and make the right direction, you'll be richly rewarded. Lastly, as a reminder, be especially careful tomorrow. I've seen the GY do the opposite of what I speculated. There is hardly any volume and it moves in a vacuum. Personally, I likely won't be trading tomorrow. GL!
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Cambista PRO Pivot_Panther
@Pivot_Panther, You are in the U. States ?
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@Cambista, Germany. US citizen working as a contractor. Part of the reason I do longer trades (swing to position) is because I am at work and cannot always see the trade. This is a great part time job. Couldn't do only this. That would be too boring for my day. A job is nice for social and feeling busy. Main reason I will not be trading tomorrow, because its family time. Cheers!
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Cambista PRO Pivot_Panther
@Pivot_Panther, Ok. I am in Portugal and today here it is open for business.
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