« Euro Surge In Past Months Lean Harder On Euro-Zone GDP | Home | Forex Trading – GBPJPY Finally Got Out Of "Jail" »
Forex Trading – Taken Out Twice Already.
By Benny Nardino | September 18, 2007
Starting the day on the wrong foot? It does happen sometimes. It’s that thing they call volatility.Cross traded: GBP/JPY.
I got in tentatively this morning @228.44 looking forward to a possible 228.19 retest from the Asia market hour. After 228.29/31 it went back to take out my stop.
Got back in @ 228.48 same result. Got off lightly though, trading 3 lots at a time. Down by 231 pips from stoplosses.
In the medium-term the outlook of this cross still look south on the daily time frame.
However, sentiments are beginning to shift upward-bias on intraday. The pivot level still stands at 228.32 and we going long above 228.60/65 with near-term targets @ 229.65 and 230.50 if extended. But if the pivot is violated again, we could be seeing a further downside move with 227.75 and 227.08 as targetted possibilities.
At the moment, signals point upward.
Benny…“A Mentor’s footprint is worth a thousand walk of trailblazing.
Seek the WISDOM of the fore-runners.”
Tags: Forex Trading, gbp, GBPJPY, intraday, jpy, pips, retest, sentiments, targets, time frame, volatility
If you enjoyed this post, make sure you subscribe to my RSS feed!
Popularity: 15% [?]
Related posts:
- Forex Trading: High Volatility Huge Profits Last Week
- Forex Trading – A very Interesting Day
- Forex Trading: Exciting Times To Be Involved
- Forex Trading: GBP-JPY Today
- Forex Trading: Trade Forex and Make £500 per Day For Life
2 Responses to “Forex Trading – Taken Out Twice Already.”
Comments
You must be logged in to post a comment.
November 22nd, 2007 at 16:11
Keep up all the great work on your Forex blog! We enjoy reading your analysis and take on the Forex market. If you have the time we welcome you to come and see our fresh and innovative “time trading” model that is predicting the daily pivots times (the times the Forex market will change direction). Come try us out for free and tell us what you think. Go to http://www.iforexsignals.com
i Forex Signals
Forex Trading
July 29th, 2008 at 7:59
[...] Forex Trading – Taken Out Twice Already. | Home | Exclusive!! Forex:: Oil And Gold Ubuntu Soaring Amid Dollar Weakness [...]