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GBP/JPY Trading 2008
- Thread starter ForexPro
- Start date
Quote from Cambist:
I think the only one getting their "panties in a wad" is you.
Everyone else here posts in real-time and it's the purpose of the thread.
There are plenty of other threads where you can be a hindsight hero.
I would like to respond here however I posted a late trade so what I say is meaningless at this point.
It won't happen again, I'll either post real time or not post at all.
Quote from Bigpipn:
I would like to respond here however I posted a late trade so what I say is meaningless at this point.
It won't happen again, I'll either post real time or not post at all.
Perfect, I think that's all ForexPro was asking of everyone here. I'm sure he could care less about fabricated (or potentially fabricated) results, but when it's affecting the integrity of a thread that he specifically asked to be in real-time, it becomes an issue.
Case closed.
-84 stop hit. It wasnt the stockmarket or usd/jpy bringing it down. It was the fact the GBP reversal of 100+pips after it held rates (which didnt even suspend the downtrend for an hour).
Bit simplistic just looking at whether the Dow is up or down relative to placing a GBP/JPY trade. This relationship was intact until a few months ago, but has lost some of its correlation.
AUd/JPY is a better proxy for equity markets.
Bit simplistic just looking at whether the Dow is up or down relative to placing a GBP/JPY trade. This relationship was intact until a few months ago, but has lost some of its correlation.
AUd/JPY is a better proxy for equity markets.
Quote from ForexPro:
-84 stop hit. It wasnt the stockmarket or usd/jpy bringing it down. It was the fact the GBP reversal of 100+pips after it held rates (which didnt even suspend the downtrend for an hour).
Bit simplistic just looking at whether the Dow is up or down relative to placing a GBP/JPY trade. This relationship was intact until a few months ago, but has lost some of its correlation.
AUd/JPY is a better proxy for equity markets.
Although I haven't watched AUD/JPY enough lately to speak in regards to that comment, I agree with everything else you stated.
To me, the GBP/USD rally was much overdone, otherwise I would have covered my GBP/JPY shorts. I was just waiting for it to fizzle out. This could be a decent buying spot for GBP/USD, but I'm still waiting for lower on the cross.