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Daily GBP/JPY analysis

  • #4,741
  • May 22, 2007 11:17am May 22, 2007 11:17am
Watch out for price action over the next 8 hours and tokyo open. We are at psychological fibo levels and without news support should not be able to sustain a rise beyond 240.60. If it gets there I will sell madly, but I am dangerously selling a little now.

Stop loss not set. The stars are jittery tonight.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #4,742
  • May 22, 2007 11:30am May 22, 2007 11:30am
Quoting Plutonite
Watch out for price action over the next 8 hours and tokyo open. We are at psychological fibo levels and without news support should not be able to sustain a rise beyond 240.60. If it gets there I will sell madly, but I am dangerously selling a little now.

Stop loss not set. The stars are jittery tonight.
hehehe...

I pulled out all at 240.12 as GU was stalling at expected 9760 resistance and other carries not following suit...

hell of a ride since Friday's 238.8 entry...

Gotta see tomorrow BOE minutes now... Not gonna short this devil.
  • #4,743
  • May 22, 2007 11:53am May 22, 2007 11:53am
I wonder what it would take to stop the carry maybe an earthquake to swallow japan.
"Millionaires don't use astrology, billionaires do"
  • #4,744
  • May 22, 2007 12:21pm May 22, 2007 12:21pm
Quoting OrionsWay
I wonder what it would take to stop the carry maybe an earthquake to swallow japan.
  • #4,745
  • May 22, 2007 12:39pm May 22, 2007 12:39pm
i need some tips please help me till what level more GJ will go up i got so many short positions opened will GJ will down and when it can posible to go down or will it go maybe 241 or more is tht posible ?
  • #4,746
  • May 22, 2007 1:08pm May 22, 2007 1:08pm
ORION's WAY

Be careful what you wish for
  • #4,747
  • May 22, 2007 1:14pm May 22, 2007 1:14pm
Quoting dragon77
ORION's WAY

Be careful what you wish for

Its coming soon anyways just a matter of time until she gives a good shake. Still the same no Ill will for man coming from here though.

If and when they pull the rug out, these are gonna be the easiest stop killing they ever done. There will be no support till the bottom
"Millionaires don't use astrology, billionaires do"
  • #4,748
  • May 22, 2007 1:47pm May 22, 2007 1:47pm
Quoting OrionsWay
just a matter of time until she gives a good shake.
This is true. Question is from which price...

240 holding like if it wasn't flashing news
  • #4,749
  • May 22, 2007 4:42pm May 22, 2007 4:42pm
Quoting sameer
i need some tips please help me till what level more GJ will go up i got so many short positions opened will GJ will down and when it can posible to go down or will it go maybe 241 or more is tht posible ?
take some juice /any flavour/, some ice /better more than less/, some girl /nice one/, some vodka /strong one/ and relax.. sing dance drink whatever u want... everything will happen it will drop for sure later? or soon? just forget market pay attention to that /niceone/ girl. turn the relax on
yeah, nice nice weather
  • #4,750
  • May 22, 2007 5:04pm May 22, 2007 5:04pm
Quoting xxmarcellexx
take some juice /any flavour/, some ice /better more than less/, some girl /nice one/, some vodka /strong one/ and relax.. sing dance drink whatever u want... everything will happen it will drop for sure later? or soon? just forget market pay attention to that /niceone/ girl. turn the relax on
When you trade big lots, the chart is more attractive than your blondie.

PS: Resistance is exactly where I predicted again, you heretics. Where is your trend-god now? Your doubt shall send you to the lowest of hell pits! Come with me, I will hold your hand, let us read the stars...
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #4,751
  • May 22, 2007 5:38pm May 22, 2007 5:38pm
I deleted the last post, because it was not trading related. please refrain from that sort of thing.

Moderator
  • #4,752
  • May 22, 2007 5:49pm May 22, 2007 5:49pm
Price right now is at 240.10 and that seems like a good place to take a short seeming as how the 240 area is suppose to provide some kind or resistance. Coupled with the fact that this baby is suppose to fall like a rock...or maybe fly like a rocket, who knows what will happen. Ill go short with a tight SL and huge TP.
  • #4,753
  • May 22, 2007 5:50pm May 22, 2007 5:50pm
Quoting Plutonite
When you trade big lots, the chart is more attractive than your blondie.

PS: Resistance is exactly where I predicted again, you heretics. Where is your trend-god now? Your doubt shall send you to the lowest of hell pits! Come with me, I will hold your hand, let us read the stars...
..me..i just dont know..maybe just for the trading itself, maybe just for some blondie /niceone/ for myself..

..resistance or support?.. 239.8x? it was your prediction i guess at this very moment.. .. but thats stupid from me at all, you all guys n dolls are really good..

nice trading big lots greeny, nice relaxing great times blondie
yeah, nice nice weather
  • #4,754
  • May 22, 2007 6:11pm May 22, 2007 6:11pm
Quoting nikim
Price right now is at 240.10 and that seems like a good place to take a short seeming as how the 240 area is suppose to provide some kind or resistance. Coupled with the fact that this baby is suppose to fall like a rock...or maybe fly like a rocket, who knows what will happen. Ill go short with a tight SL and huge TP.
240.23 now. stay off, buy dips, stay with the trend., don't worry, be happy.

We have a break from 240 consolidating here ahead of big time UK news. Other carriers making new highs as we speak.
  • #4,755
  • May 22, 2007 7:06pm May 22, 2007 7:06pm
Quoting cesarnc
240.23 now. stay off, buy dips, stay with the trend., don't worry, be happy.

We have a break from 240 consolidating here ahead of big time UK news. Other carriers making new highs as we speak.
Absolutely cesarnc! This is our game bro maximize profits M looking forward for 242 sooner than later! Whohoooo! We're making lots of money! I love this pair!
  • #4,756
  • May 22, 2007 7:32pm May 22, 2007 7:32pm
Quoting 4x_Trader
Absolutely cesarnc! This is our game bro maximize profits M looking forward for 242 sooner than later! Whohoooo! We're making lots of money! I love this pair!
Awesome...

This is what I've learned from trading yen pairs. If you get a nice dip, after rumors or CB talks (which happens EVERY WEEK) and you end up floating with positive pips in a day or two inline with the trend, you gotta sit and wait. The move is coming eventually... With the daily swap, profit taking out of nowehere is just not likely...

Market keeps the trades rolling as long as there is no reason to get out.

Last week I had no trades in GJ until the Friday's selloff, where I got the dips to dump them today at 240 area... Now back to the waiting game for the next window...

Still floating with EJ and UJ here, as the dreaded 164 / 122 barriers are yet to be traded. Let's see what happens tomorrow....

Cya
  • #4,757
  • May 22, 2007 9:07pm May 22, 2007 9:07pm
Quoting nikim
Price right now is at 240.10 and that seems like a good place to take a short seeming as how the 240 area is suppose to provide some kind or resistance. Coupled with the fact that this baby is suppose to fall like a rock...or maybe fly like a rocket, who knows what will happen. Ill go short with a tight SL and huge TP.
can someone please enlighten me and give me a short reason why hunting tops for sell is a good strategy here, and why it wasnt back to 239.60, which has been resistance for one month? Why will it fall from HERE and not from 241, for example?
Of cos I would be glad to see another move Soros style, but the guy is old now and he mainly uses his money for charities, rather than helping us traders get a good short trade
We leave no soldier behind.
  • #4,758
  • May 22, 2007 10:08pm May 22, 2007 10:08pm
Quoting cesarnc
Awesome...

This is what I've learned from trading yen pairs. If you get a nice dip, after rumors or CB talks (which happens EVERY WEEK) and you end up floating with positive pips in a day or two inline with the trend, you gotta sit and wait. The move is coming eventually... With the daily swap, profit taking out of nowehere is just not likely...

Market keeps the trades rolling as long as there is no reason to get out.

Last week I had no trades in GJ until the Friday's selloff, where I got the dips to dump them today at 240 area... Now back to the waiting game for the next window...

Still floating with EJ and UJ here, as the dreaded 164 / 122 barriers are yet to be traded. Let's see what happens tomorrow....

Cya
Congrats bro you are very right indeed sitting with the winner not with the loser because the trend will always be our friend and I dont see any reason for now why this pair will not continue to go north, for justification news from
IFR Forex Squawk box:

May 23. GBP/JPY looks to be consolidating gains above 240.00 seen overnight.
Early Asian trading saw the cross trade up marginally higher to the 240.25-30
level before backing off. Data from Quick Global Information yesterday showing a
large decrease in Japanese margin player GBP/JPY longs as of Monday looks to
have helped the market higher. A fall in longs suggests short-term players can
more easily buy anew. Expectations of more BoE interest rate hikes are also
helping to keep GBP in demand. A more clear picture of BoE intentions will be
garnered tonight when the MPC minutes for the May 9-10 meeting are released. The
market is eyeing an 8-1 vote for no change in policy against a 2-7 vote at the
previous meeting against a hike. GBP/JPY continues to see considerable headwind
on move higher from profit-takers. That said, technicals suggest a test of the
241.50 or so highs seen on January 23-24.
  • #4,759
  • May 23, 2007 3:35am May 23, 2007 3:35am
Well it was unanimous 9-0. Looks like 240 is the new floor and were going north to 241 area.

241.33 is high for the year. Higher than that who can tell.

North bound position taken, and I'm back to sleep. See you at the US open.
  • #4,760
  • May 23, 2007 7:53am May 23, 2007 7:53am
For the bottom fishing community, UJ is at good prices to start loading the truck.

Watch for 1hr 100 EMA area as likely supportive.
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