DAY 11 – GBPJPY the shining star?

GBP SESSION @ 8:00AM (late night last night)

NZDUSD - Possible SELL order below 0.9747 target at 0.9729 not enough pips to be worthwhile be much more interested about the 0.7913 area target 0.7756
GBPUSD - No trade.
GBPJPY -   Horizontal No trade till after 9:30AM take care.
AUDUSD - Sell order @ 0.9077 - @ 0.8864 In a box bearish need to break out.
USDJPY - Bullish Order @ 98.57 But horizontal prior to GBP news target 99.83
USDCHF -  Bullish order @ 0.9387 target 0.9543

Most interesting today is GBPJPY good unemployment figures @ 9:30AM but be careful. No trade GBPUSD and NZDUSD targets too small and GPBUSD are going to struggle against each other.

I accidentally put a BUY on GBPJPY instead of an order. So I’ve got a stop in at 151.13 below the resistance… it’s moving bearish now but that is just squaring up (even though there is volume). I would imagine prior to 9:30AM GBP will rally big time and I may pull out before the news or flatten out my stop. (Flattening is when you move your stop loss to $0. You should normally do this when your trade is 17 to 21 pips in profit depending on market conditions.

So here’s how I played it, and got 65 pips profit.

1. Trade went to about 15 pips profit before news, I set the stop loss to $0 break even that way if the news was bad then I would be ok.

2. News was good (whoohoo!) GBP rallied for 55/56 pips which is the magic number.

3. Now I wait for the hook down and a buy signal again they have to square up back 25 pips.

CHART 1 : (prior news daily)
CHART 2: Post News
10 minute you can see the hook is already forming
Note – wait EXACTLY 3 minutes after the news at that point it’s reached its max before closing.

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