Cambista
Short

Attention to the TL breakout

FX:GBPJPY   British Pound/Japanese Yen
225 15 5
Price is at 1H TL. Possible down breakout.
Long on the bounce of the 60m TL. Sorry to rain on your parade.
Reply
Cambista PRO Pivot_Panther
@Pivot_Panther, your last opinion about this pair was "...something will trigger this move for a continued drop and the 132ish area." Did you change your mind?
Reply
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!
Reply
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!
Reply
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.
Reply
@Cambista, That's right - let the trade come to you, rather than forcing it. Great patience like that will pay off.
Reply
Cambista PRO Pivot_Panther
@Pivot_Panther, Since you are an expert in this pair....what do you think it will happen now ?
Reply
@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!
Reply
Cambista PRO Pivot_Panther
@Pivot_Panther, You are in the U. States ?
Reply
@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!
Reply
Cambista PRO Pivot_Panther
@Pivot_Panther, Ok. I am in Portugal and today here it is open for business.
Reply
@Cambista, Hey, there it was - 143.00 or 3 pips shy. I'll take it anyway. I had set my targets conservatively at 142.80, since I couldn't be at my computer. Looking at taking a short here after the pullback at around 142.80 with 20 pip SL. HOWEVER, I'll be monitoring this if the short occurs as I still believe there is some more upside, possibly to 145 and then a handsomely profitable short from there. Therefore, I am still looking to enter for another leg north. I am sure you made some pips on the retracements, as you've been waiting for the shorts. However, I believe the bears had to cover when it impulsed to 143. GL!
Reply
Cambista PRO Pivot_Panther
@Pivot_Panther, Hi. I'm amazed by your successful predictions. Well, today your were helped by OPEP meeting results. Anyway, no doubts you know this pair. I made nothing because I am still waiting the trend to change, to go SHORT. Please give a clue on the right time.
Reply
@Cambista, Now at 143 is a good time to cautiously go short. Price hit the 200 ema of the Daily that I had told you about a couple of weeks ago. This should stand as a resistance area. I say should, because nothing is guaranteed. I say cautiously short so you don't load the boat. Let the trade tell you when to start adding to a short. Don't assume because I said so. My main reason for the short is again, the 200 ema of the Daily was touched. GL!!
Reply
the trend was your friend on this occasion
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out