GBP/JPY Trading 2008

I favour taking profits as opposed to moving stop to break even as so many times i get stopped out at break even, so unless you hit a new trend the price goes back. It just never seems to work out for me by moving stops. However, if seems to work for me better in stock trading, where i would let the winners ride more.

NFP will make the mkts volatile. However i think the £, especially GBP/USD has bottomed now. So I may be looking for longs on the GBP/Jpy. But a clearer picture will emerge post-NFP.
 
Ha, thanks guys, I was getting a bit ambitious on that long. I use Drummond but it was in combination with another indicator I use. I thought it was bottoming, but obviously not!

Might see 213.26 today.
 
Still short with 1/3 of the original position from 227.43. Sold another lot @ 216.38. I'm not much of a news trader but it seemed like such a no brainer. Looks like it'll break the 213.55 support shortly.
 
Took off 1 lot @ 213.64 for +274. If it doesn't retest, break and hold under 213.50 before 3pm I'll probably close out. Stop @ 215.12 for now.
 
Well here it is 4:15 @ 213.91. Change of plans. Not going to close and will ride out the weekend.

Seems like a good week was had by all. Let's do it again next.

Out.
 
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