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Strategies & Market Trends : LET'S PLAY IN THE FOREX..AND NOT GET LOST! -- Ignore unavailable to you. Want to Upgrade?

To: CapitalistHogg™ who wrote (194)	7/17/2007 6:04:49 PM
From: RockyBalboa	Respond to of 247

In the past, volatile CPI numbers often upset the currency crosses other than USD before traders returned to the usual carry business. Bernanke + CPI could do it again. Here, my strategy is that I sell into the first waves of weakness (if any...). For the pound this would evidently mean that the first sell happens when 250 is not maintained. We do have an ongoing buy-the-dip mentality in various JPY crosses. In that context a "250" level for GBP JPY is meaningless and one can replace it by virtually any number. Therefore I am still not convinced. One would only short if a subsequent dip is not bought in reasonable time. I need to keep that in mind too. After all the same reasoning led me to stick with GBP-JPY? Having no superior information - why should I sell when no one else is selling...I don't have a crystal ball.

To: CapitalistHogg™ who wrote (194)	7/18/2007 7:15:56 AM
From: RockyBalboa	Respond to of 247

Here is what the retail side does: Day Trading the Guppy Tue, Jul 17 2007, 18:13 GMT by Jordan Lindsey JCL Capital Current Outlook – The Guppy is in a clear up trend today tradign beyond the last pivot point of R3 by over 100 pips. We are long here from 250.33 [18:03:42] varora: jordan, what you look for a TP in a trade like this? [18:05:49] jordan: Only looking at SL right now which will be in the 249.72 area [18:06:05] jordan: [17:37:16] jordan: we don't have any pivot lines as a guide since the support at R3 is 100 pips away. On the 5M the low of the bars from 14:55 to 15:05 is our stop loss [18:06:29] jordan: we have a up trend day on a pair that is a HUGE uptrend overall [18:06:44] jordan: so we will take (TP) whatever it winds up giving us [18:06:49] varora: yep i got that [18:07:43] jordan: with no resistance at all above us, we just want to put overselves into a profitable trade and try to give it room to continue to go [18:11:08] varora: thanks .. !! gotaa learn a lot from you.. !! if i knew this before , I would have never missed a fortune of pips, i was always afraid of a uptrend to fall down.. and later only to find that it goes to the skies..