GBPUSD flat top triangle break

Sorry I haven’t posted in a few days, been busy as well as sick. In fact, I’m still feeling somewhat under the weather. I hope it’s not H1N1!

Basically I’m seeing a flat top triangle, it broke above 1.6630 resistance
General trend is largely up, though it’s been kind of range-ish lately.
I’m waiting for a consolidation or a pullback on the 15min before making my entry.
Note the importance of the 1.6655 level. See the chart for further explaination.
On the 15min charts, there are 2 long tailed dojis, one inside the other, done against a know level of support/resistance. Rather bearish signal ya?
So alternatively, if this breakout fails, there’s a supporting trendline which I’ll be observing.
There’s a doji forming on the 1hr. 
You can see it on the chart attached.

GBPJPY trade taken 9th Sept

There were a couple of consolidations which I was following in the afternoon.
Like the consolidation on the EURUSD and the false break on the USDCHF
They made their move in the evening while I was out, both resulted in fantastic moves for great risk/reward ratios.
I took a trade on the GBPJPY very early in the morning.
resulted in yet another 0.5R trade.
I’m considering changing my money management strategy to just take everything out at 1R targets.
However, looking at the great setups which I should have been taking yesterday and today, I felt that this warrants more thought.
If I were to take everything out at 1R, I would have no chance to capitalize on the huge market movements.
But at the same time, I’m leaving many many 0.5Rs on the table just to catch the big moves.
Either I get a strategy for catching bigger moves or I try using a different money management approach.

Anyway, it’s the 9th of Sept 2009, or 09-09-09
A lot of happy blissful couples ROMing today =)
Congrats to all of them!

Explainations for the GBPJPY trade on the chart.

EURJPY flat top triangle 7th Aug

EURJPY has been consolidating over this past week. watching it pretty closely, maybe there’ll be a trigger for a short term play later, but mostly i’ll be looking forward to the longer term play this could offer to us.

GBPJPY interesting consolidations

The GBPJPY is making a consolidation just under the long term daily supporting trendline which now acts as resistance.
And right now, it’s doing another consolidation just under the mid term 4hr supporting trendline which now acts as resistance.
Very interesting isn’t it?
Well, I’ve taken a sell trade on it, explainations on the charts, look at the 4hr chart first then the 15min charts so you’ll understand what you’re seeing. (my art work kindda sux big time =p i’m trying my best!)