GBPJPY
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Thread: GBPJPY

  1. #1
    I had a bit of a look at the daily charts for your GBP/JPY cross. It look like there is some potential for profit. I don't have any clue how future improvements with the Yuan would impact this but here goes. On the daily chart over the past year that the MA3/MA10 crossover seems to indie fantastic opportunities for going long (possibly a bit more favourable due to the interest rate differences) or short. Merely using the MA3/MA10 crossover doesn't constitute a trading platform. I'd really appreciate it if anybody would like to make suggestions.
    -What other indiors may be use to confirm a signal or to filter out false ones.
    -What type of Stop Loss should you use on a trade like this? (180 pips under MA10?)
    -Maybe trailing the Stop Loss 180 pips under the MA10 when the market start a favourable move?
    -It feels like a fantastic idea to Exit the trade when another MA3/MA10 crossover takes place after the market moved some space...
    -What type of MM is used when trading within a longer period? Can you utilize 2% risk per trade?
    Thank you very much for taking the time to look at this and help me out with suggestions.

  2. #2
    Quote Originally Posted by ;
    karthink...
    thanks for your attempt . .
    I am newbie as well..would you mind sharing what are indior u using? thanks.
    Indiors can be whatever that u understand and are familiar with...I utilize MA (all types ), rsi, stochs, CCI....lots of mixes....the thought is to keep studying and keep observing...u might have seen that any trading platform does not operate for more than 6 mnths or 1 yr. . .why?? Cos market keeps shing. . .what works now might not function as next mnth....so keep watching, keep reading and keep watching out for patterns...u should be one ur toes...

  3. #3
    One more point. I'm a very firm believer in the fact that all news would be reflected in the technicals..before any news releases, some of it would indeed get leaked and somewhere and the essential price action would begin even b4 the news comes out. . .this can be observed on the charts....so I feel that there would be no need to track the news separately if u r great in ur technical analysis...

  4. #4
    Thanks!


    Frank


    Quote Originally Posted by ;
    Once it breaks 239.45, it has a good resistance at approximately 239.85, once that it broken too, then it goes upto 240.60 with 239.85 as support at the point. . .thats my analysis...

  5. #5
    You might be interested to know that the price of GBP/JPY is equal to the price of GBP/USD multipled by the price of USD/JPY or

    GBP/JPY = GBP/USD x USD/JPY

    The G/J will proceed alot whenever there's a carry trade trending market, either winding or unwinding.

    At a winding market, the $ is weakening versus the GBP and stengthening vs. the JPY. 40 pips of winding will probably be worth 127 pips on the G/J.

    Don't bother investing the G/J at a $ dominated market, like following a US news report. When the $ is moving the same manner versus GBP and JPY, the G/J can go either way, depending on how fast it's moving on either. Most times at a $ market-you will benefit about the same about the but you'll pay alot more in the spread.

    100-120 pip movements are typical for the G/J. In market conditions when equity markets are doing long the G/J on the drops. If you it at there and you find the $ strengthening vs. the GBP and weakening vs. the JPY-turn the position about.

  6. #6
    Thanks newstrader...I know it is a product of gbpusd and usdjpy but still have not found a method to effectively use that knowledge. . .in any case, like I said b4, it is almost always better to view a currency pair as a standalone one instead of thinking it is dependent on some other currency pair. . .this manner, it would be easy to analyse it...

  7. #7
    I've been trading this pair for around 6 months reside today and one thing I notice is that during the Asian session, it is a great ranging pair
    to scalp 25-30 pips. Notably utilizing the 5 min chart. Anybody else notice this?

  8. #8
    Thats right. . .it is a really good pair and a profitable one too if u select the right direction. . :--RRB-). .

  9. #9
    Quote Originally Posted by ;
    You may want to know that the price of GBP/JPY is equivalent to the price of GBP/USD multipled by the price of USD/JPY or

    GBP/JPY = GBP/USD x USD/JPY

    The G/J will proceed alot when there is a carry trade trending market, either winding or unwinding.

    In a winding market, the $ is weakening versus the GBP and stengthening vs. the JPY. 40 pips of winding will be worth 127 pips on the G/J.

    Do not bother investing the G/J at a $ dominated market, such as following a US news report. When the $ is moving the exact same way vs GBP and JPY, the G/J can go either way, depending on how fast it's moving on either. Most times at a $ market-you will benefit about the exact same about the G/J as others, but you are going to pay alot longer in the spread.

    100-120 pip moves are common for the G/J. In present market conditions when equity markets do well, long the G/J on the drops. If you long it at there and you find the $ strengthening vs. the GBP and weakening vs. the JPY-turn the position around.
    WOW, this post has been enlightening. Thanks for sharing with us!

    What is your favorite currency pair to trade? (or pairs)

  10. #10
    An additional small piece of information....dont leap in if the markets open now. . .allow the markets to cool down for atleast 3-4 hrs....markets will always be there. . .we should make sure that we are there as well. . .so allow it to cool . . .monday is generally a dicey day and so take ur trades with a pinch of salt....cos there is a high likelihood of u hitting ur SL....best thing which u can do on a monday is'dont trade'....but I am a risk loving man and so I dont miss any evening to trade...:--RRB-). .

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