GBP/JPY Trading 2008

st hit -66pips. The best trades are the ones that go your way more or less straight away. Next time i will exit straight away when the price action doesnt back-up my thoughts.
I still feel sub 210 is on the cards, but we might get a retrace upto 220 before we get there.
 
Almost hit my stop of 215.12. Now @ 214.50. Didn't hit the 215.16 resistance but the slide down is definitely running out of steam for now. Almost all exit conditions have been met and I expect my ATS to close fairly soon. However, if 213.50 gets broken to the downside any time soon - look out below.
 
Quote from Cambist:

Well, no real gap to start of this early Sunday trading. Still holding longs from 231.90 and will wait to see what Europe brings.
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you meant 213.90 I hope. LOL
 
Quote from bigmrfrank:

you meant 213.90 I hope. LOL
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LOL, yes thanks for catching that! Wow, could you imagine the draw-down one would be suffering if holding longs from 231.90? YIKES!
 
Quote from Cambist:

LOL, yes thanks for catching that! Wow, could you imagine the draw-down one would be suffering if holding longs from 231.90? YIKES!
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At first I was thinking - Damn, he must be trading off a yearly chart.
 
Short was closed @ 214.58 for +1285p. Long was taken at 214.73. Stopped and reversed @ 215.79 for +106. Current position is short from 215.79. Current price @ 214.74. Protective stop @ 216.21.
 
Out of G/J short for +72 pips and flat. We are right at daily pivot and we have sideways US equity markets.

I'm also long G/U as per atticus .9728.. should see a decent bounce ahead of BOE decision.
 
I think the BOE will cut again. Retailers had a poor xmas, couldnt give the stuff away, so it will hamper the pound.

I stay short at 215.88 but my stop is at breakeven to reduce risk. Maybe the Aud/jpy is a more clear cut trade.
 
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