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GBP/JPY

ROFL, I just wanted to ask you, aren't you bored? Looks like your wish is coming true, clean breakout. My view on today's target 123.7 area, tomorow 124.8 area. I wonder if price will fly 1000+ pips in this month...
Been bouncing back and forth for days. just got to top and prob head back down for the day. will see what tomarrow brings. momentum is overall up, but need something to make it pop.
Quoting IndigoPingvi
ROFL, I just wanted to ask you, aren't you bored? Looks like your wish is coming true, clean breakout. My view on today's target 123.7 area, tomorow 124.8 area. I wonder if price will fly 1000+ pips in this month...
Quoting zephyru
Been bouncing back and forth for days. just got to top and prob head back down for the day. will see what tomarrow brings. momentum is overall up, but need something to make it pop.
This is definitely the time where patience kicks in and it's time to sit on the sideline
Trade what you see, not what you think.
i would like to inform you that GBP/JPY will being sell for today because it's trying to resist 123.50 but it can't so for this way u should take it sell as short term untill 122.50 to test that area after that if u want to take it as buy u can (u will be in the safe ) because it's need to head that for a while

i took it as sell from 122.80 untill 122.50

i will inform u if there's any news if this will take for long time or not
did u see , it's now at 122.49 i catch'em pew pew
Quoting snmaasster
i would like to inform you that GBP/JPY will being sell for today because it's trying to resist 123.50 but it can't so for this way u should take it sell as short term untill 122.50 to test that area after that if u want to take it as buy u can (u will be in the safe ) because it's need to head that for a while

i took it as sell from 122.80 untill 122.50

i will inform u if there's any news if this will take for long time or not
And in another thread you wrote (at the same time):
"hey all if u want to take gbp/jpy take it sell at 122.80 untill 121.79 stop loss 122.14 i took it at 122.79 my take profit is 121.79"

So which one is it? Are we safe to buy at 122.50 or are we selling till 121.79?
selling till 121.79
this am just hit support line, but mood still feels down. I think trying to get to bottom of enveloping candles from tue/wed. From there I would predict 121.42 next week.
Attached Image (click to enlarge)
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One observation... Historically speaking (if I calculated correctly) looking from October 1991 (20 years and 9 months) pair moved on weekly basis less then this week only 6 times/weeks. This week's movement was 151.5 pips. But, the day/week is not over yet
Quoting IndigoPingvi
One observation... Historically speaking (if I calculated correctly) looking from October 1991 (20 years and 9 months) pair moved on weekly basis less then this week only 6 times/weeks. This week's movement was 151.5 pips. But, the day/week is not over yet
We had an inside weekly bar last week and this weeks bar is an inside bar to last week's, and the bulls are not giving up, the breakout shall be a massive one I reckon..
Trade what you see, not what you think.
On the daily chart, price seems to be stuck in a triangle and bouncing up n down. Price is above daily gann and daily QQE is crossed upwards. The momentum is bullish IMO, but the 123.20 area has been tough resistance, if that level is broken then we have 123.75, and then another trendline at 124.75, there are several tough resistances but if they are broken, I expect to see atleast 126.80 and even possibly 129
But, if the lower TL breaks then look down below.

http://img803.imageshack.us/img803/8388/dailygj.gif
Trade what you see, not what you think.
Quoting karmostaji
On the daily chart, price seems to be stuck in a triangle and bouncing up n down. Price is above daily gann and daily QQE is crossed upwards. The momentum is bullish IMO, but the 123.20 area has been tough resistance, if that level is broken then we have 123.75, and then another trendline at 124.75, there are several tough resistances but if they are broken, I expect to see atleast 126.80 and even possibly 129
But, if the lower TL breaks then look down below.
I agree with everything you said, good analyses! Whatever will be will be masive and volatile.
what is the job of QQE and how can i use it for trading ?
Preasure, preasure...Waiting for London open...Trendline doesn't give up, but Bulls neither. On 15M timeframe we have inverted Head&Shoulders of the 512 EMA, on the other side we have Double Top of the Trendline...
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So we had 4H Bearish Outside Bar, usually price comes back to one third or even half of such bar. It did. Are we going to see another test of Trendline below? This is getting boring.
Quoting IndigoPingvi
So we had 4H Bearish Outside Bar, usually price comes back to one third or even half of such bar. It did. Are we going to see another test of Trendline below? This is getting boring.
Be patient, it shall break upwards eventually
Trade what you see, not what you think.
start of the week. today should be slow, but could aesily go up to 123.232 or 123.62 well within normal daily range. JPY news somewhat negative could help.
Quoting karmostaji
Be patient, it shall break upwards eventually
Looks broken, retested the TL couple of times, up we go? everything looks good but I don't like the timing of the breakout, US session about to end soon.. hmm shall be interesting!

http://img21.imageshack.us/img21/8388/dailygj.gif
Trade what you see, not what you think.
i think it's easily to move up above of 123.50 by this daily range , and it must be break trendline today or follow up to 124 areas , i've been waiting to catch it at 122.79 again to buy it

good luck and wish to me that
  • Post #60
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  • Edited 1:16am Aug 14, 2012 12:48am | Edited 1:16am
Interesting, we got red numbers for GBP and green for JPY, yet the price is still moving up The investors have their own plans. Let us then follow them I agree there are several areas of traffic till somewhere around 124, after that should be easier... Who knows, but we might get to 127 this week 450 pip weekly move is achievable for this pair There I expect some real problems, if we go past that...

It is interesting that majority of FF trader's capital on this pair is still selling, once SL will be hit pair will start moving fast
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