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Quoting tashkent
I am not expert but here is my opinion: do not try to predict, remove all these lines where price may reach or fall, bounce or reverce. simply follow highs and lows. now it is uptrend so just buying would be logical untill you start seeing lower lows and lower highs.
The problem with GBP/JPY is not technical. It is mainly fundamental. Japanese Elections and world economic problems. The Yen is strong. The problem is not Japanese. It is because of deflation and world economy. It is temporary.
Quoting gentlelove30
The problem with GBP/JPY is not technical. It is mainly fundamental. Japanese Elections and world economic problems. The Yen is strong. The problem is not Japanese. It is because of deflation and world economy. It is temporary.
things will get a lot easier when we start seeing things as a whole.
As Above, So Below
Based on the daily we are trading in a consolidation range between 131.80 & 132.20. I'm leaning more towards the upside on this one because of the levels its consolidating at, but I don't think we'll see a move this week unless we get some serious jaw boning from Abe.
It works till it doesn't
Been away from this thread for some time. And am glad to see that there is some discussion going on. Your ideas are interesting and possibly helpful, (afterall it is a discussion), and I hope to use the info in determining my actions in trade. I currently am using forex-tribe.com and actionforex.com for my biblical guidance. With this thread and those two I might have a chance to get out of my situation. so i sort of count on you trader egg heads. My problem is I am hedged up to the hilt waiting for a trend move in one direction or another so I can clear either the sells or the buys and rescue my profits. The problem came about by not doing stop losses, and with a spread of 8.3 pips you get caught a lot when profit is not reached or you catch a trend at the wrong time. That is what happened to me. So what I need is the knowledge of when the price moves into a definite trend and with it I will close the buys in any small or large profit and hang on for a fall to close the sells. I believe that some posts ago that was a forecast. I am all for it, but alas it is not. It is relatively quiet on this pair until later to night (I am on EST) and then the fun begins. and from my understanding we have a temporary top at 132.44 and a support at 130.79. if either is broken then we are looking at on the upside of 133.48 and up to at least 134.00 and in the other direction a bottom of 130.05. so the bias is bullish. For those who are bears, Actionforex.com says that this is only a temporary retrace and consolidation and that eventually we will go to 100. For the short term expect a price movement between 140 and 116. As far as going to 138 and up I haven't read anything that confirms this. If there is a chance for PA to go that far it is far down the road. So give me an idea of the yellow brick road, I started with 1,000 in May and now holding on with my finger tips at 95,000. And no I will not give anyone financial info. I have been very lucky.
Where are the bulls now?
New voice message: Why are you calling me? If I need you, I'll call you!
Quoting KillerWhale
Where are the bulls now?
i said that someone here when he was too bullish. i will say the same to you too: you are too early with your sarcasm my friend.
As Above, So Below
Quoting tashkent
i said that someone here when he was too bullish. i will say the same to you too: you are too early with your sarcasm my friend.
Its not sarcasm, lol I/m long myself now.
New voice message: Why are you calling me? If I need you, I'll call you!
Quoting KillerWhale
Its not sarcasm, lol I/m long myself now.
And to be totally honest, I have no clue which side it will break out.
My guess is south but anyone who guesses north could be right.
At this moment I am just scalping this fucker in both directions.
New voice message: Why are you calling me? If I need you, I'll call you!
Quoting KillerWhale
Its not sarcasm, lol I/m long myself now.
i was about to say, "its not over til the fat lady sings," and then i saw this post
Any prices quoted are futures
Quoting KillerWhale
And to be totally honest, I have no clue which side it will break out.
My guess is south but anyone who guesses north could be right.
At this moment I am just scalping this fucker in both directions.
i just took long too, but i have no clue which way it will move. i am just participating. maybe this bull has some more strength. the direction will be clear before london i guess.
As Above, So Below
Quoting redteamgo
i was about to say, "its not over til the fat lady sings," and then i saw this post
Lol you never know where it ends, I think we will see a little bit up next few hours till maybe 131.50 but we'll just have to wait and see.
New voice message: Why are you calling me? If I need you, I'll call you!
So where are you guys, is it gonna break north or south?
I respect every opinion.
New voice message: Why are you calling me? If I need you, I'll call you!
Take your pick. But this where it's got to

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Quoting KillerWhale
So where are you guys, is it gonna break north or south?
I respect every opinion.
i am looking at 130.50 and sell at every bounce. other than that still bullish
As Above, So Below
Daily PA suggest 4 Day Bearish Pin. So if you join all 4 Days together from the first Open to the last Close you get Bearish Pin. This was the clue for me and I am selling it from 131.729 but this is early entry. For the Bearish Pin to be valid price needs to break below 130.52 (so technically this would be entry) and even then it can technically still return up to the highs of the Pin. If the high is broken by 18 pips (so technical SL 132.61) this nullifies the Bearish Pin. Maybe you recall at the start of the week I said I would like the Price to copy the 2 red bars from several weeks ago; so if that would be the case Price would test the Red Trendline this week and next week test 20 EMA on Weekly chart.
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Quoting KillerWhale
So where are you guys, is it gonna break north or south?
I respect every opinion.
Break north and very hard the bottom of consolidation range is still holding. Not mention the majority of retail money is way to short. Lastly BOJ is expected to announce another round of stimulus Y 880B this Friday. Don't think we'll see the move till end of week or early next week tho. I trade longer term & am bullish as long as its above 129.50 and have been building a position at these levels & will continue to do so as long as we don't get a daily below 129.50.
It works till it doesn't
Quoting DaEdge
Break north and very hard the bottom of consolidation range is still holding. Not mention the majority of retail money is way to short. Lastly BOJ is expected to announce another round of stimulus Y 880B this Friday. Don't think we'll see the move till end of week or early next week tho. I trade longer term & am bullish as long as its above 129.50 and have been building a position at these levels & will continue to do so as long as we don't get a daily below 129.50.
So, the market already knows the value of any stimulus ... so it's priced in. How's the UK economy? Bullish sentiment or not, there's two sides to this coin. One's called GBP and the other called JPY.

I even bore myself saying this all the time.
Quoting Mpt
So, the market already knows the value of any stimulus ... so it's priced in. How's the UK economy? Bullish sentiment or not, there's two sides to this coin. One's called GBP and the other called JPY.

I even bore myself saying this all the time.
I'm guessing your short & that's fine & that's what makes a market somebody wants to be long & somebody wants to be short, but trying to pick tops & bottoms is pure gambling in my eyes. I may be new to this forum but I been trading on prop desks for over 15 yrs so please don't try belittling me with your condesending coments. As I said I trade longer term with wider stops & smaller leverage & in my eyes above 129.50 is bullish & I will continue to build a position at these levels. Shorting these crosses in front of elections is trying to be a hero. If the move is going to be down the market will confirm nothing goes straight up or down, it will generally give you a second chance to enter obvisiously not at as good a price tho. If you we're long last week then thats wonderful but to think the move is over & has completely reversed when the pair is clearly consolidating is very foolish.
It works till it doesn't
Quoting DaEdge
I'm guessing your short & that's fine & that's what makes a market somebody wants to be long & somebody wants to be short, but trying to pick tops & bottoms is pure gambling in my eyes. I may be new to this forum but I been trading on prop desks for over 15 yrs so please don't try belittling me with your condesending coments. As I said I trade longer term with wider stops & smaller leverage & in my eyes above 129.50 is bullish & I will continue to build a position at these levels. Shorting these crosses in front of elections is trying to be a hero....

Look, this could be a reversal pattern, or it could still be a continuation pattern. I happen to think it's reversing. Maybe that's just my bad judgement. But I never say whether I'm long or short. I have a bearish view, but I take what comes. I too view the very long term charts and consider that 300~400 pips is nothing outside my expectations.

But, frankly, to spout off about the significance of one half of this pair based on some possible election outcome, with little or no regard to the time frames involved in any changes to such a large economy is, in my opinion, facile in the extreme.

To reference a document I posted some time ago here, said comments are entirely what you would expect of the so called "shoe shine boys". No different to those who wait with baited breath for the elusive intervention.
Quoting Mpt
Look, this could be a reversal pattern, or it could still be a continuation pattern. I happen to think it's reversing. Maybe that's just my bad judgement. But I never say whether I'm long or short. I have a bearish view, but I take what comes. I too view the very long term charts and consider that 300~400 pips is nothing outside my expectations.

But, frankly, to spout off about the significance of one half of this pair based on some possible election outcome, with little or no regard to the time frames involved in any changes to such a large...
My time frames are for early next year & I only use news to start scaling out of my positions & lock in profits if the trust is the direction on my bias. As I said I use smaller leverage and larger stops. I'm not discounting the fact that GBP is economy is in toilet right now but I do feel that JPY is worse.
It works till it doesn't
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