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You are currently posting in the on going GBP/JPY thread. This pair is the deep end of the pool. If pushed in you'll learn how to swim faster but you may also drown. Have a look at GBP/USD. Threads well with less risk.

Good question. Let me see if I can articulate the answer properly. 212 is a great example. When we say 212 we're really discussing 211.80 - 212.20 as most traders aren't dumb enough to place orders right on the number. 212 was a recent high that was severely rejected. It was also major S/R...

if he hints at it again everybody is in for a wild ride.

Have you been watching the Support & Restistance levels I've been posting. I've been doing so because during times of consolidation, trend exhaustion and possible trend reversal in GY they become very important and GY adheres to them well regardless of news to a certain degree. Reason? - That's...

Call me Frank. Still long but hanging on by a thread. Half came off during the big rejection at 212. Stop is @ 209.39. Let's see how GY reacts to the news out any second.

Hope you covered into that quick sell off this morning. Still long.

Seems like CPI was a case of No New is Good News.

Got up this morning to find my short closed and reversed. Now long. Also long GBP/USD. I'm not convince quite yet that the GY long is all that sustainable in the long term but short term is fairly stable with short covering and decent buying. All time frames are just about in harmony with a...

Still short and lovin it. So far in 08 GY has been a thing of beauty. I'll post some brief TA in the morning.

The biggest problem with MT4 is who it connects you to.

Cable is stagnant but USD/JPY is still making lows.

The trend is rather long in the tooth which is going to make it very hard to sell rallies other than those with large stops and small targets. It's also going to be very difficult to call the bottom without some serious consolidation first.

Still short. Nice move to 210 as we discussed last week and about to test it again. Price broke the bottom daily trendline but not enough to make it a R point. There is no clear cut R1 but it is vaguely 210.95 or 210.50 with 211.98 being R2.

Second test of 211.98 also failed so the downward trend is still in place ... for the time being.

First test of 211.98 failed. About to try again.

Why long now? Seems a rally is likely but why at this point?

Still short. Had a perfect test of 211.98 and is now resting on the bottom daily trendline exactly. Also a failed test of 213.50. Seems a bit exhausted but still decent selling. R1 is now 211.98 and R2 213.50.

martingale and money management do not belong in the same sentence.

Held my short over the weekend. Nice benign open. Downward pressure and momentum still in place. London open should test fridays low of 211.98. Good week to all.