Not much going on with GJ ATM — It looks to me like we are in for a consolidation of sorts. I am thinking we could retest those low from Firdays close In the 202.20/40 range. But 202.00 should hold as solid support. And on the 180 MIN chart we ...

GBPJPY scalpers

I don't know if I am misunderstanding this — FOrexfactory says: Measures the total value of outstanding consumer installment debt, such as credit cards and auto loans. A rising trend has a positive effect on the nation's currency because ...

GBPJPY scalpers

that's off — NO thats off. Previous was 10.3Billion expected was 5.5B it came out lower at 5.2B which while this number is RED on forexfactory a lower number is actually MORE USD positive because it means that consumers who previously owed ...

GBPJPY scalpers

I think It stalled due to USD strength over GBP weakness — The dollar is rallying and beating up the weakened GBP. BTW I think 103 and higher is in the cards for the UJ.

GBPJPY scalpers

Why Not? — So much for that R level anyways. But I was long at 202.40 and bailed out of some @ 203.50 and holding a few more. I didn't see the price as trapped I saw it as reversing from 202.40 which is where I got long from Friday before ...

GBPJPY scalpers

S/T resistance at 203.50 — She may dip down over night a bit, but tomrrow she is on the way back up. I'll be buying more long in the dips

GBPJPY scalpers

You Might be right! — The UJ is heading up rather nicely, But the GU is struggling bad ATM. So GJ's fate will be determined by which currency ends up being weaker today. Will it be the GBP or the JPY. If it is the GBP then GJ is headed south. ...

GBPJPY scalpers

Thanks I was using GBP/JPY A0-FX instead of the Gain rate — It gapped up over 202.60 didn't it? Better get long before she really takes off!

GBPJPY scalpers

HMM! — She opened gap up and sure seems to be heading Due North ATM. Better check your shorts!

GBPJPY scalpers

Really? You would wait for along trigger? — So you do see some longs? IF you follow the run up from the double bottom on GJ at 197 and compare it to the same time frame on the NJ, They are pretty similar. MY only point is that GJ and NJ ...

GBPJPY scalpers

I have dozens of them! — Yes they are. I do it every day. The current challenge is the new news from the mortgage insurance companies who are not willing to insure mortgages to 100% anymore. The maximum they will insure up to is now 97%. ...

GBPJPY scalpers

Didn't we go through this same thing several days ago? — Why? Because when we were previously bottoming with a double bottom at 197 and everything was saying down but over the next several days it not only didn't go down, It shot up pretty ...

GBPJPY scalpers

Nope seemed to close right there at 202.40 — But I think it is pretty much certain that it will get down to 201.95/99 before it rebounds up. If it Breaks below 201.95, I will hold my longs and look to get a few more at the bottom, which can't ...

GBPJPY scalpers

Sometimes you have to WAIT — It is very hard to learn patience, but without it it is VERY hard to be a sucessful GJ trader. I had some shorts yesterday way up there, and set my Tp and SL. Sadly my SL got hit and it only went 1 pip higher then ...

GBPJPY scalpers

This is True! — I can attest to this first hand. I have done this several times and have destroyed many accounts and have had to start over

GBPJPY scalpers

ME — I am long with 13 minilots all the way down to 202.40. I think we have some more downside coming, I am buying all the way down to 201.99. I doubt we wil get much lower than that.

GBPJPY scalpers

Speaking of NFP — So how do you see price moving after NFP. If NFP is up thats dollar positive and GJ will go up? IF NFP is down thats dollar negative and GJ will go down? Is that how it usually plays out? As far as upcoming NFP, looks like ...

GBPJPY scalpers

Look at the RSI — I think the red and green on Malcolmbs charts represents oversold and overbought. If RSI is above 70 this is overbought and indicating a downward correction move soon. If RSI is below 30 this is oversold and idicates a likely ...

GBPJPY scalpers

I hear that — I already just got flat myself as GJ is looking to be headed for a dip down especially on the 240. I was thinking long but sure does look like short would be wiser here.

GBPJPY scalpers

I wish I had missed it. — I forgot to close out a long entry on the EUR/USD and woke up 100 pips down, tried to average it down a few times only to find the bottom kept sinking lower and SQR'd about 100 pips down. It only got worse. The ...

GBPJPY scalpers