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Thread: GBP.JPY

  1. #71
    action-reaction arco's Avatar
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    Hi DB

    Yes a number of indications appearing together, so lets
    see if and how far the action can head south.......

    My stop also close by @ 214.05

    arco
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  2. #72
    action-reaction arco's Avatar
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    I've decided to take a small loss on this one until
    the plot becomes more clear...tomorrows another day

    arco
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  3. #73
    action-reaction arco's Avatar
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    Annoying having to be asleep when all the action happens,
    but fortunately I took out a big position on Eur.Jpy before
    retiring as it looked more in reversal mode.

    Nice wake up pips +124
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  4. #74
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    funny what you said about this one arco about the same time you posted i had my finger

    on the mouse ready to close as it wasnt looking to flash but

    my internet connection went down and i took it as a sign .........

    sometimes it aint too scientific

    just got stopped for 150+

  5. #75
    action-reaction arco's Avatar
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    Nice one DB

    I managed to squeeze 200 from the Eur.Jpy, so after taking
    the small loss from Gby.Jpy it was still a good result.

    arco
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  6. #76
    action-reaction arco's Avatar
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    Refer to post #63

    The beast has broken out overnight resulting in +225 pips

    Champagne breakfast

    arco
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  7. #77
    action-reaction arco's Avatar
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    Closed this overnight trade @ +320 pips...................most charts show reversals are imminent IMO.

    I will be looking to get back in on the retrace when the signals look right.

    rgds - arco
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  8. #78
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    traded the uk data

    just nailed 180 pips in about 5 mins wow

    compensation for all the nightmare trades

  9. #79
    Legend peat's Avatar
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    So we've had 5 purple waves down and 3 yellows up and since then (late July) we've hit a new low with a very powerful motive wave downwards. No significant retracement yet so I'm still counting it as a 1. What do you think?

    Now usually 2 is a significant retracement so that would take it at least to 207 possibly 212. But then we'd be in a new 3 wave downwards and supposedley that would go a long long way down! Certainly right now its recovering from being very oversold so it needs to do that at least.
    ...Continuing with my EW weekend
    Last edited by peat; 14-09-2008 at 08:56 PM.
    For clarity, nothing I say is advice....

  10. #80
    action-reaction arco's Avatar
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    Hi Peat

    Heres an EW commentary from asiafx

    "Preferably, I believed a truncated wave 5 (white or magenta) is already established and looking forward for a bullish reversal trend to perform a major corrective a,b and c. A valid triple bottom pattern and a further breakout to the upper green trend-line and critical line 1 would bolster this scenario. Otherwise a breakout to the bearish continuation line 7 would put this scenario in major doubt (yellow)."

    See the Chit Chat thread for the chart (link below), but pop on yer sunnies first

    http://www.asiafxtraders.com/images/...10.30am_1h.gif

    rgds - arco
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