Quote:
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Originally Posted by Soul-Trader2004
i dont have any expensive systems.
and who the hell is stench?
I work for no-one but me  |
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The Stench Group is run by Pappy Stench. He is the sister of Pamela Stench
Before this year is over you will be working for me.
I'm taking you to lunch right now. See below. Who pays the bill depends on how the call below works out!
GBPJPY on
4H -- nice
good-odds shorty in motion. Decide on your own
STOP if you choose to play.
Entry conditions: Trendline break (
OK), 78.6% fib broken (
not yet), and a close below 34-pd MA (
not yet) on 4H chart timeframe.
NO entry unless this occurs.
If there is joy, holding period will be till death do us part, possibly for days or if lucky, weeks.
If no joy, then back to the trenches as a Longy.
And here's the
free lesson: (From a 75k/yr fella to a multimillionaire) Don't
got time to post the chart but a quick look at 4H for the pair will show you, Oh Magnificent One, the nice sleek, shiny trendline from Jan 8th and Jan 11th.
One needs 3 points for a trendline that inspires confidence, but when Price leaves it is the dust when it blasted off on a new trajectory on Jan 11, one knows there will some reckoning when it returns to said line later in the next millenium. Either it rockets off again upon contact, consolidates or he'll drop his shorts and plunge. One other possibility exists, namely it is searching for a stabler trendline before continuing upwards. Sorry, there is still plenty of thoughting required, no auto pilot plays for me.
The jury is still out there on this call, but what the heck, its worth a shot.
Other caveat: GBPJPY is a LONGY not a SHORTY, but I see a correction and will play it and then look to get back on the dominant upward trend. But be aware there is a huge
carry penalty associated with this play.