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Daily GBP/JPY analysis

  • #4,481
  • May 14, 2007 2:34am May 14, 2007 2:34am
Serious selling going on in cable. Methinks number leak, after last week's fiasco. There are some SERIOUS snitches in the British banks, let me tell you.

EDIT: well whoever it was is probably feeling like crap now. It reversed lol. Never trust a snitch!
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #4,482
  • May 14, 2007 2:47am May 14, 2007 2:47am
Quoting jaaccl
Welcome to a great week of winning trades!
Welcome too Jaaccl. Lets hope to have a great week beginning from today. Where are the other guys? I hope they have come over their hangovers.
Eyes For Pips!
  • #4,483
  • May 14, 2007 3:55am May 14, 2007 3:55am
great week until now, GY is moving with the speed of a snail...went up 50 pips in 9 hours...
We leave no soldier behind.
  • #4,484
  • May 14, 2007 4:00am May 14, 2007 4:00am
Quoting gagiul
great week until now, GY is moving with the speed of a snail...went up 50 pips in 9 hours...
Yeah well, USDJPY and GBPUSD were pushing against each other. Now the data came out a little below expectations, strong initial movement, but I'm not selling right away. Will wait until new york today to make a decision.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #4,485
  • May 14, 2007 4:04am May 14, 2007 4:04am
Quoting Plutonite
Yeah well, USDJPY and GBPUSD were pushing against each other. Now the data came out a little below expectations, strong initial movement, but I'm not selling right away. Will wait until new york today to make a decision.
Same here... Finding the bottom in the next hours will provide a good R:R, if US session comes carries bullish
  • #4,486
  • May 14, 2007 4:34am May 14, 2007 4:34am
I dun know if it is a good time to do some fishing considering that GBP/JPY MAY have some volatility for tomorrow..... Sigh......
  • #4,487
  • May 14, 2007 4:42am May 14, 2007 4:42am
Quoting stevetan2010
I dun know if it is a good time to do some fishing considering that GBP/JPY MAY have some volatility for tomorrow..... Sigh......
I'm still in, long since Thursday. Friday's move hasn't recovered the Thu dumping. There's is just one way to know whether or not I'm right
  • #4,488
  • May 14, 2007 4:46am May 14, 2007 4:46am
Quoting cesarnc
I'm still in, long since Thursday. Friday's move hasn't recovered the Thu dumping. There's is just one way to know whether or not I'm right
Yeah I sort of panic and sell all my positions which if I hold till today my account is up by 6%..... But..... Haizzzzz..... Guess my emotion got me again....
  • #4,489
  • May 14, 2007 4:57am May 14, 2007 4:57am
Quoting cesarnc
I'm still in, long since Thursday. Friday's move hasn't recovered the Thu dumping. There's is just one way to know whether or not I'm right
Agreed. I have decided to buy now actually, the downward move was weaker than I expected. Will not wait for the Yanks to wake up. I have a TP at 1.9864.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #4,490
  • May 14, 2007 5:01am May 14, 2007 5:01am
Quoting cesarnc
I'm still in, long since Thursday. Friday's move hasn't recovered the Thu dumping. There's is just one way to know whether or not I'm right
Very daring indeed...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY4H2.jpg Size: 73 KB
  • #4,491
  • May 14, 2007 6:17am May 14, 2007 6:17am
Market is coming EJ bullish, fast and furious. Euro making new highs across the board.

And Cable stalled....

Looks like market will start factoring the upcoming ECB rate hike and Cable will stall until upcoming economical data... This week's CPI and Retail Sales are key data for the next 3-4 weeks....

In the meanwhile, it is likely GJ fans will stay put looking EJ soar
  • #4,492
  • May 14, 2007 7:12am May 14, 2007 7:12am
Quoting WTB
Very daring indeed...
lol he is already in lots of pips in profit that is why he can risk it!!!!
  • #4,493
  • May 14, 2007 7:23am May 14, 2007 7:23am
Quoting stevetan2010
lol he is already in lots of pips in profit that is why he can risk it!!!!
I dont agree with that line of thought. Trading, in my opinion, is about taking each trade independently and uniquely. Every trade is a fresh start and applicable to the same rules as the previous one. I am not saying this is the case of course, but I don't recommend laxing down on the entry requirements just because I am in profits for the month.

Once again, I am not saying it's the case here on Cesarnc's trade at all. Just commenting on the sentence above quoted.
  • #4,494
  • May 14, 2007 7:26am May 14, 2007 7:26am
Quoting stevetan2010
lol he is already in lots of pips in profit that is why he can risk it!!!!
Not only... The trade is inline with the trend, otherwise, profit would be in the pocket already.

I'm waiting for first hours of US stock market and will check carry trades reaction to figure out what to do next
  • #4,495
  • May 14, 2007 12:45pm May 14, 2007 12:45pm
Quoting cesarnc
I'm waiting for first hours of US stock market and will check carry trades reaction to figure out what to do next
Not an inspiring session in the stock market... All very quite trades today. Guess everybody on hold for tomorrow's pack of data...

I just profited on

UJ (from 120.14 to 120.40), still holding remaining positions looking for 120.50 and 121.00

USDCAD- on the H&S in the 1hr, inline with the trend.

Euro-dollar from 3477, still holding...
  • #4,496
  • May 14, 2007 12:48pm May 14, 2007 12:48pm
Quoting cesarnc
Not an inspiring session in the stock market... All very quite trades today. Guess everybody on hold for tomorrow's pack of data...
indeed. perfect hangover monday!-)
  • #4,497
  • May 14, 2007 1:14pm May 14, 2007 1:14pm
A must-read


http://www.forexfactory.com/showthread.php?t=29422
  • #4,498
  • May 14, 2007 1:34pm May 14, 2007 1:34pm
Lets take a poll, is the carry unwinding 1) yes 2) no . Add you number to the previous one and post it.

1) 1
2) 0
"Millionaires don't use astrology, billionaires do"
  • #4,499
  • May 14, 2007 1:43pm May 14, 2007 1:43pm
well can not say forsure but have some thought on my mind so let say 1) YES
  • #4,500
  • May 14, 2007 1:51pm May 14, 2007 1:51pm
Quoting OrionsWay
Lets take a poll, is the carry unwinding 1) yes 2) no . Add you number to the previous one and post it.

1) 1
2) 0

yes.
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