Flying Dutchman

Currently in a EURCHF short, analysis gives me confidence that it will hit the 0.98385 level.

Another pattern that repeats over and over, SWEEPING AISA H/L.

Attached Image (click to enlarge)

Trip Longs, then go after Stops.

Stops tightened up. I want to finish at 4pm or earlier.

Back tomorrow.
tea and biscuits await.

So GBP/JPY is tripping longs for how long? Or is trendfollowing the 15 min back in vogue?

Looking this morning New York also kept the heat on yesterday till after the London close. Then relaxed the pedal lol.
A whole new day ahead now.
How they respect the last New York Open Line 160.315 and the last London Open Line below at 159.391 hold some clues as to what the market might be thinking.
The prev monthly hi above at 161.803 is another consideration in the mix.
That's their ranges.
But what will they do in the trenches.
Well, that's our fun hahaa.

all the best and keep an eye on what the USDJPY is doing. It often leads GJ when there is no Pound news.

During ASIA, my side dishes ( CROSS PAIR trades) were yummier (more productive) than my main dishes (MAJORS).

Oh yeah tell me about it. Held all the way. All fun for sure TT. Held up to a 100 pip drawdown overnight for today's dump just got 10 to go till BE. Took a short then it pumped up a full 100 pips to my surprise. Aint letting it go back to 100 that's for sure. It drops today or gets cut right quick. Lets see what it does at 5 ish Brissy time.

Nice work.
Cross pairs are fun.

Hi FWR,

While we won’t go into this trade aspect activity here but you have achieved imo a skillset that only comes from adversity (and is handy to have while NOT wanted though lol). I suggest this is not a skillset we ever wish to have to EMPLOY, but nonetheless it is a skillset.

The grinder on GJ is a trade breaker for many. But is just a “taking the p!ss out of us all” price move as I see it. And they do have their limits or boundaries also from where they can move price to. I think I counted they blew out seven targets to their top peak ending. The London Closing is where many who were on the Buy GravyTrain would have closed for TP leaving no buyers in the market and then it had to fall. At that point there may well have been a few new late buyers come in and they then got trapped themselves at the wrong time (the peak high).

To do a double ADR like yesterday happens often enough. I have seen triple ADRs on GJ, so we must be very wary thinking ALL these DD situations CAN be traded out of, as it is money management, risk profiles, leverages, lot sizes, amounts of averages in there etc etc etc that make that trade situation a VERY dangerous place for our accounts to be in. I like to be trading WITH the mover on most occasions lol even if just for some of the run.

Having said that you most likely will be okay I think (who really knows with forex currencies lol) just be wary of the GBP news coming up at the top of the hour, like you said, as that appears the only fly in the ointment for you now.

And, NOT because of whether the news will be Green OR Red as that can also be irrelevant to the Larger Market depending on who they have currently trapped. If they currently have a majority of buyers trapped still in there and the news is Green for the GBP, those buyers will be hoping the market plays out to Green News and gets them back in the game with price rising. But if the market is aggregate biased to Buys then the Larger Market MM/LP can also move price against Green News lol (all just imo) to cause panic & frustration for those buyers. This would be your best scenario, but otherwise just watch the response of the market at the time and have a plan from there for either occurance. There is enough ADR left for price to go down (and past even) the London Open from yesterday. OR. Price could also FLY higher with many targets above where price currently sits.

All the best FWR, trade it well.

The initial break is usually the right direction, they have to get interest from buyers, then go after their stops to fill their own orders.

So why would you want to buy the breaks ? FOMO ?

Or keep a cool head & Buy the pullbacks as long as you can.

When does it end ? Good places would be when New traders enter & the Current ones leave.

Because those markets are the most active, ie. those banks & their clients are in the market to do business.

The majors are sleeping unless some catastrophic News breaks overnight.

Eg. Right now 8am - 10am UK , EURUSD, EURJPY, GBPUSD & GBPJPY are motoring, but USDJPY is sideways.

LONDON session trade, the market has been very kind to me since ASIA. (TOUCH WOOD !)

Same mechanics, different pair.

That's right.
However, I consider AUDUSD and NZDUSD as MAJOR. Whereas GBPJPY (GU X UJ) and EURJPY (EU X UJ)are CROSS PAIR to my understanding.

Hi fxp,

Yes I have AUDUSD as a MAJOR pair in the market


[While I would only consider NZDUSD as a major headache lol from my past experience many years ago hahaa
Though I see you have it tamed, from your own charts, well done ]

and thank you. The market is always right and more powerful, I am just learning how to play within my zone, by the lines, utilizing the market mechanics and paying attention to the small details as I trade naked, literally

Big shake out on that last news. Things should kinda go the dollar way for a bit.