Gbp/jpy

SwingTrader1

Recruit
Messages
16
I was looking at the GBP/JPY a little while ago.
It looks like it may be headed for a small tumble down.
This might be a good opportunity to short it.
Maybe pick up a few pips. I think by 17:00 pst I should have a better idea of how this pair is shaping up.
See you then.

19:03 pst
Sorry Im late not too worry though. The way the GBP/JPY is going it looks like it might be another day or so before all my ducks line up. I am going to check tomorrow 0500 Remember patience is the name of the game here. I want what I want and Im willing to wait. Everythings gotta line up or Im passing.
See you tomorrow bright and early, at least for some of us.
 
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SwingTrader1

Recruit
Messages
16
No trade setup

GBP/JPY
I didnt get what I wanted so I pass.

To me this sucks, I like to trade however I hate to lose so I would rather wait even when a trade looks "almost". I have found its better to stand aside. There are many other good trades on the horizon.

Anyway chin up! I have my eye on some other pairs that look promising to me. I will share one with the readers of forexpeacearmy when they setup.
 

SwingTrader1

Recruit
Messages
16
Aud/cad

I like the AUD/CAD this pair is setting up real nice. Im going for it.
Here is my strategy.
Sell the AUD/CAD on an entry limit.
The price I want to sell at is .9256
the stop is .9285
the limit is .8000
These are the kind of trades I really like. Risk is very small, with the broker I use its 29 pips.
The profit potential on this trade could be as much as 12 cents. I dont expect anyone to take the trade because Im new here and I havent proven myself with a track record. So hey just keep an eye on it and see what happens. I think this one is going to be fun!
 
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