2015 02 06 GJ I keep a bullish bias.

[stefcio2002]

This monthly chart explains why I am keeping a bullish bias on GJ.
It looks like the pair is restesting –and rejecting- monthly SMA200 broken resistance.

I think it stands a good chance of going back up to retest that 50 fib resistance around 184. All the more as GU is quite low and has ground to rise, too.

Remember however that this is a monthly chart. The move does not have to happen today !

 

[stefcio2002]

This is an update on 2015 02 10.

The pair is now struggling to pass H4 SMA200 while contained by 180 level that acts as a support.

I entered a small postion with a stop at 179,9. On a clear bullish break out of H4 SMA200 I may add to my position.

 

[richieforex]

Can you explain exactly you add to your positions? To you get in on a break out or a pull back?

 

[stefcio2002]

Can you explain exactly you add to your positions? To you get in on a break out or a pull back?

Hi Richie, thank you for your question.

A full position for me is a position with an open risk of 2%. On this particular case, I opened a position with 1 % risk, and i was waiting for another signal to enter with the second half of the trade.
this was motivated by the fact that although the pair did start to rise, it was capped by SMA200 and at that moment there was real risk of ti heading south again, so I wanted to see it break up SMA200 before entering the second half of the trade.
In such a case my SL would have been a little bit under 180, and I would have calculate the size of the position to make it 1% of my account.


So the answer to your question is that I may add to a position when I do have a second signal in the sense of the trade. Usually I prefer to wait for a pull back to enter long, but I considered here that the consolidation under H4SMA200, should it be broken, would give a valid signal.

As far as I remember, I did not add, whether the break up did not happen, or whether it happened while I was not trading.

 

[richieforex]

Hi Richie, thank you for your question.

A full position for me is a position with an open risk of 2%. On this particular case, I opened a position with 1 % risk, and i was waiting for another signal to enter with the second half of the trade.
this was motivated by the fact that although the pair did start to rise, it was capped by SMA200 and at that moment there was real risk of ti heading south again, so I wanted to see it break up SMA200 before entering the second half of the trade.
In such a case my SL would have been a little bit under 180, and I would have calculate the size of the position to make it 1% of my account.


So the answer to your question is that I may add to a position when I do have a second signal in the sense of the trade. Usually I prefer to wait for a pull back to enter long, but I considered here that the consolidation under H4SMA200, should it be broken, would give a valid signal.

As far as I remember, I did not add, whether the break up did not happen, or whether it happened while I was not trading.

Thank you!!