Posts Tagged geppy trading

Going short on the GBPJPY

Going short on the GBPJPY

I went short on the GBPJPY at 14973 as it was bouncing off the resistance as you can see on the chart below. There seems to be  resistance around the level where the price action was and as the price action looked to fall, I felt this was a good entry. The market has found some strength all of a sudden however so we will have to wait and see what happens. I have my stop at 15024 with a first target (if things go my way) at 14900 or so...

May 21, 2009 No Comments Full Story

GBPJPY Forex trading – luck on my side!

GBPJPY Forex trading - luck on my side!

Last night I sat and watched the Forex markets and there was a spike up showing strong support at around 135.65.. this also coincided with a trend line in the 4 hour chart (as below)... this was a cue for me to go long and I did at 137.02 I put a 100 pip stoploss and 100 pip target price and went to bed. When I woke up, I saw that I was within 6 pips of being stopped out and that my trade had gone on to make a profit! Phew.. now that was lucky, usually I'll be stopped out first before

March 3, 2009 No Comments Full Story