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Daily GBP/JPY analysis

  • #4,101
  • Edited 3:35pm Apr 29, 2007 3:24pm | Edited 3:35pm
Quoting Sami7
If we don't get a hourly close above 238.87 I would say we are headed down. Then again....
Now, Sami7, We closed not just hourly below 238.87, but also daily below 238.87. Are we not going to move to 241 any more ?
  • #4,102
  • Edited 7:05pm Apr 29, 2007 3:32pm | Edited 7:05pm
For those of you who trade the gap - 238.62 - 238.67

And this is the only gap I've got - hmmm.
All hard work brings a profit, but mere talk leads only to poverty.
  • #4,103
  • Apr 29, 2007 3:36pm Apr 29, 2007 3:36pm
Quoting trader8686
Now, Sami7, We closed not just hourly, but also daily below 238.87. Are we not going to move to 241 any more ?
Right now, we are below 238.87, and I THINK I see possible down movement. I was in a short from Friday and have locked in profit. Let's see what the hourly close of the candle will say.
All hard work brings a profit, but mere talk leads only to poverty.
  • #4,104
  • Edited 5:18pm Apr 29, 2007 4:04pm | Edited 5:18pm
I am thankful I was short on Friday...big jump at open of market. I am now long.
  • #4,105
  • Apr 29, 2007 5:23pm Apr 29, 2007 5:23pm
i am releafed to get out of my old trades. fridays was supprice for me. blind eye.. lets see what this funky fresh week have.

Have a good one! Beer! Jaa man. europa tomorrow in drunk!
  • #4,106
  • Apr 29, 2007 5:51pm Apr 29, 2007 5:51pm
Quoting Mother
i am releafed to get out of my old trades. fridays was supprice for me. blind eye.. lets see what this funky fresh week have.

Have a good one! Beer! Jaa man. europa tomorrow in drunk!
Mother, I believe you have had one drink too many
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #4,107
  • Apr 29, 2007 5:59pm Apr 29, 2007 5:59pm
Hi guys, I have a demo MT4 running and I see there is 50 pip or so gap
from last weeks close.

Anyone also seeing this? Why did this happen and how does it affect support and resistance of last friday?

Thanks
  • #4,108
  • Apr 29, 2007 6:40pm Apr 29, 2007 6:40pm
On the Asia open on Sunday it's not the Friday market that will dictate the resistance of that open. It's the resistance found on Thursday that the market will honor. And yes the gap will be filled.
  • #4,109
  • Apr 29, 2007 6:54pm Apr 29, 2007 6:54pm
Quoting forex-zeal
Hi guys, I have a demo MT4 running and I see there is 50 pip or so gap
from last weeks close.

Anyone also seeing this? Why did this happen and how does it affect support and resistance of last friday?

Thanks
Where is this 50 pip gap at?
All hard work brings a profit, but mere talk leads only to poverty.
  • #4,110
  • Apr 29, 2007 7:01pm Apr 29, 2007 7:01pm
[quote=forex-zeal;1428338]Hi guys, I have a demo MT4 running and I see there is 50 pip or so gap
from last weeks close.

Anyone also seeing this?


Happened on my MT4 too....last weeks close 238.78....this weeks open 238.18....why the gap? i don't know.hopefully someone can enlighten us.
Thanx
  • #4,111
  • Apr 29, 2007 7:02pm Apr 29, 2007 7:02pm
At 17:00 EST the gap went from 238.84 to 238.17. There is still time to go long.
  • #4,112
  • Apr 29, 2007 7:05pm Apr 29, 2007 7:05pm
What I've never seen before in over 3 yrs of trading is the gap on the u/j. There is a gap at the top and a gap at the bottom. The market doesn't seem to know which one it wants to fill first.
  • #4,113
  • Apr 29, 2007 7:22pm Apr 29, 2007 7:22pm
Have a feeling BBA Mortgage Approvals m/m is going to be the triggering point. hhhhmmm......
  • #4,114
  • Apr 29, 2007 7:25pm Apr 29, 2007 7:25pm
GBP/JPY never fails to freak me out anytie of the day. One moment my position is in red and another moment it is in black. Damn... I need a drink. T_T
  • #4,115
  • Apr 29, 2007 7:27pm Apr 29, 2007 7:27pm
Quoting asyi
At 17:00 EST the gap went from 238.84 to 238.17. There is still time to go long.
Strange my charts are only showing a small gap. Have you ever had any problems with MT4 charts?
All hard work brings a profit, but mere talk leads only to poverty.
  • #4,116
  • Apr 29, 2007 7:31pm Apr 29, 2007 7:31pm
I went back to MT-3. Gap on u/j was filled. G/J is on its way.
  • #4,117
  • Apr 29, 2007 7:36pm Apr 29, 2007 7:36pm
Quoting asyi
I went back to MT-3. Gap on u/j was filled. G/J is on its way.
I had heard the MT4 had more bells and whistles and the MT3 was less troublesome.
All hard work brings a profit, but mere talk leads only to poverty.
  • #4,118
  • Apr 29, 2007 7:57pm Apr 29, 2007 7:57pm
I'm seeing support at 238.93. MT4 wouldn't hold a trendline for me it seemed like they were on a different Time Zone every other day.
  • #4,119
  • Apr 29, 2007 9:01pm Apr 29, 2007 9:01pm
Anyone have any idea we still go up or not? I still have the news from last Friday.
  • #4,120
  • Apr 29, 2007 9:29pm Apr 29, 2007 9:29pm
TA...

Looks likely that GJ is to make a turn for a bearish retracement. We've had a few days of indecision which followed by a highly anticipated bullish pennant forming. But it turned out to be an entual double top confrmed by Friday's bearish stance. The TL break on the down side could vaguely confirm that the Pound will be taking a breather.
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