Daily GBP/JPY analysis | Page 250 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/JPY

Similar Threads

GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies

long eur/jpy, gbp/jpy, usd/jpy 11 replies

GBP/JPY, GBP/USD, and EUR/USD (technical analysis) 3,084 replies

Gbp/jpy = Gbp/usd X Usd/jpy ?? 5 replies

Adwa Daily GBP/JPY analysis 23 replies

Attachments: Daily GBP/JPY analysis
Exit Attachments

Daily GBP/JPY analysis

  • #4,981
  • May 29, 2007 3:43am May 29, 2007 3:43am
Quoting Pipsqueak
Why worry about China so much? If the bubble bursts, you get stopped out. Until then, just buy on dips and make all those easy pips. By the time the bubble actually bursts, you will have made tons of pips already.
Thank God I found one thinking like I am.

China is going to explode, YES! Question is WHEN. No one can tell. And when it happens we will surely notice it.

And if it crashes like it's being said, you can get stopped out with 300 pips loss and profit 2,000 on the way down and 2,000 on the way back up.
  • #4,982
  • May 29, 2007 4:04am May 29, 2007 4:04am
Quoting cesarnc
Thank God I found one thinking like I am.

China is going to explode, YES! Question is WHEN. No one can tell. And when it happens we will surely notice it.

And if it crashes like it's being said, you can get stopped out with 300 pips loss and profit 2,000 on the way down and 2,000 on the way back up.
im in the club too very happy to make 80 pips in an hour.
We leave no soldier behind.
  • #4,983
  • May 29, 2007 4:33am May 29, 2007 4:33am
Quoting cesarnc
Thank God I found one thinking like I am.

China is going to explode, YES! Question is WHEN. No one can tell. And when it happens we will surely notice it.

And if it crashes like it's being said, you can get stopped out with 300 pips loss and profit 2,000 on the way down and 2,000 on the way back up.
While waiting for China to explode, one can actually make 2000 pips just on buying dips. Take today for example, GJ retrace to 240.60 and quickly rebound to 241.50, an easy 100 pips. And GJ has been doing this for like the past month.
  • #4,984
  • May 29, 2007 4:34am May 29, 2007 4:34am
Quoting cesarnc
China is going to explode, YES! Question is WHEN. No one can tell.
How can you be so sure? I guess you are just fooled by Greenspan and other hedge funds managers,who are eagerly waiting for a good chance to enter Chinese stock market,and that's why they have been chorusing a story of explosion and creating a "dramatic contraction"(retracement).
But actually Chinese stock had lagged for a long period behind the economic growth, the relative quick growth from last year is just a correction, and the fundamentals of chinese economy is also fine.
Besides,take a look at stock markets of Brazil,India and Russia, the other members of the so called "Brics" , you will find they "bubbled" much more than China,but seems no one worries about it.
  • #4,985
  • May 29, 2007 4:41am May 29, 2007 4:41am
Quoting thkkfx
How can you be so sure? I guess you are just fooled by Greenspan and other hedge funds managers,who are eagerly waiting for a good chance to enter Chinese stock market,and that's why they have been chorusing a story of explosion and creating a "dramatic contraction"(retracement).
But actually Chinese stock had lagged for a long period behind the economic growth, the relative quick growth from last year is just a correction, and the fundamentals of chinese economy is also fine.
Besides,take a look at stock markets of Brazil,India and Russia, the other members of the so called "Brics" , you will find they "bubbled" much more than China,but seems no one worries about it.
Easy man... I've been one of the few voices here saying that I don't buy this B.S. for the immediate term!

What I've been saying is: there is a bubble (technically). But no one can tell how much more can go in (since greenspan's B.S., Shanghai is about 5-6% up), and no one can tell when the crash is going to start!

Every bubble explodes. This one is going to explode eventually. But it could take another, what? 2 years before this happens. So there's no point in discussing when it's going to happen. Because, when it happens, we will surely see it!

  • #4,986
  • May 29, 2007 4:44am May 29, 2007 4:44am
Quoting thkkfx
How can you be so sure?
If there's one thing I leaned in the financial market is not to be sure. You will notice that my posts here are loaded with terms like "likely", "favoured", "if", so forth.
  • #4,987
  • May 29, 2007 4:56am May 29, 2007 4:56am
Quoting thkkfx
How can you be so sure? I guess you are just fooled by Greenspan and other hedge funds managers,who are eagerly waiting for a good chance to enter Chinese stock market,and that's why they have been chorusing a story of explosion and creating a "dramatic contraction"(retracement).
But actually Chinese stock had lagged for a long period behind the economic growth, the relative quick growth from last year is just a correction, and the fundamentals of chinese economy is also fine.
Besides,take a look at stock markets of Brazil,India and Russia, the other members of the so called "Brics" , you will find they "bubbled" much more than China,but seems no one worries about it.
Ok, Mr. Apocalypto, so whats your strategy then? Sell now the GY? what stop would you use? and what TP? and more important, how many days would you wait until you will actually make money?

My humble advice is to stop talking and B.S. about the imminent fall until it will actually happen. The simple reason is that it didnt happen yet, so its like talking about how we will trade GU above 2.0150, which sounds stupid. Besides, all the newbies who come and read this thread start to actually believe this, start selling and then wonder why they keep on losing money and GY keeps on going up. Lets not overshadow the market reality with your and other's deviated perception and try to keep things simple. Dont outsmart the market, but trade what you see.

Im really curios how did you trade these days...
We leave no soldier behind.
  • #4,988
  • May 29, 2007 5:01am May 29, 2007 5:01am
And BTW, my opinion is 100% opposite of my best interest. I'm dying for this day to come so I can short the carries for a week, no preset TP

In the meanwhile, however, I have to stay here wondering when (if) GJ is going to crack this 242.00.
  • #4,989
  • May 29, 2007 5:05am May 29, 2007 5:05am
I think you may have missed that poster's point there, Gagiul. He was saying the same thing as Cesarnc and others.

Personally, I am doing the same things as the rest of you but with tighter stops both ways. I don't see a reason to let a position drift 300 pips away from break even because the market hasn't seen a sudden (as in, over the period of a couple hours) move of more than 200 pips in a long time. When I bottom fish, I look for stabilised support before entering my long position with no more than a 30 pip stop loss. Sure, I miss out on a few pips by being careful and occasionally (very occasionally) get stopped out before the swing, but i'm not aiming to squeeze every last pip from every movement, I am just aiming to grab a portion of every movement while minimizing my losses.

I still think we'll see the bubble burst sooner rather than later, however, which is why I keep my stops tight and advise anyone trading the yen pairs to do the same.
  • #4,990
  • May 29, 2007 5:11am May 29, 2007 5:11am
Quoting gagiul
very interesting insight. You live in Japan?

Well, even if UY is getting hammered today, Im happy I entered long at 240.60. As one other guy said here, why worry so much about china burst? Instead of losing money on shorts waiting for the prophecy to happen, better buy dips, win on carry and make pips. Its really easy. Ill be buying dips even if it goes down to 239.60.
Gagiul...Thanks and yes, I live in Yokohama...from the UK but "swallowed the anchor" a few years ago and still here...interesting

Good luck with GBP/JPY
  • #4,991
  • May 29, 2007 5:30am May 29, 2007 5:30am
Anyone in EJ? Recently I decided to split my carries with EJ, as some times it moves better... Like today...

Looking for 164 to be taken out, as to get some fresh air in the skies + drag GJ up with it.
  • #4,992
  • May 29, 2007 5:37am May 29, 2007 5:37am
Quoting cesarnc
Anyone in EJ? Recently I decided to split my carries with EJ, as some times it moves better... Like today...

Looking for 164 to be taken out, as to get some fresh air in the skies + drag GJ up with it.
Yes, luckily entered since 163, 38 Fib level, but I looking to exit around here, and maybe enter on a clear break. Dont wanna get burned again...
We leave no soldier behind.
  • #4,993
  • May 29, 2007 5:47am May 29, 2007 5:47am
Quoting gagiul
Dont wanna get burned again...
I know the feeling. Also expected it to break 164 last time....

BUUUUUURRRNNN

  • #4,994
  • May 29, 2007 6:20am May 29, 2007 6:20am
seems like it will take a longer time to burn it. I exited all my longs now and will wait for 1.3500 for EU and 1.9800 for GU to be broken, otherwise, I dont see GY above 241.50 and EY above 164...
We leave no soldier behind.
  • #4,995
  • May 29, 2007 6:51am May 29, 2007 6:51am
Quoting esmondy
please, i would like for you to acquaint me the setting and reading of the S & R's you talked about as being the most basic indicator for trading.
i would be delighted if you could ablidge me.

UNTIL LATER, TAKE CARE AND MAY YPUR TRADING BE PROSPEROUS!!!
This topic is quite lengthy. You can do a search on it in Forex Factory and find many threads regarding it. The knowledge found on the forum is greater than the knowledge that I can send your way.
  • #4,996
  • May 29, 2007 6:52am May 29, 2007 6:52am
Quoting gagiul
seems like it will take a longer time to burn it. I exited all my longs now and will wait for 1.3500 for EU and 1.9800 for GU to be broken, otherwise, I dont see GY above 241.50 and EY above 164...
164... "Chicken out or not chicken out, that's the question". Took partial, just in case
  • #4,997
  • May 29, 2007 6:54am May 29, 2007 6:54am
Quoting cesarnc
164... "Chicken out or not chicken out, that's the question". Took partial, just in case
hehe, time to open a champaign. Of course I chickened out, but as you tought me so well, will look to buy retracements:d I hope I wont get drunk until then. Enjoy the fresh air above 164.
We leave no soldier behind.
  • #4,998
  • May 29, 2007 6:58am May 29, 2007 6:58am
Quoting gagiul
hehe, time to open a champaign. Of course I chickened out, but as you tought me so well, will look to buy retracements:d I hope I wont get drunk until then. Enjoy the fresh air above 164.
I'm 3/4 chicken, so to speak.

  • #4,999
  • May 29, 2007 7:13am May 29, 2007 7:13am
Hehe, im 2/2 chicken. Damn... i still dont have the guts to trade more than 2 positions. Hope to change that soon.

07:50EUR/JPY making new all time highs above 164.00

Please, all you apocalypse prophets, start selling at 164, coz the bubble may burst very soon As always, there should be some sellers in the uptrend too, so we can buy cheap and sell high.
We leave no soldier behind.
  • #5,000
  • May 29, 2007 7:20am May 29, 2007 7:20am
lol I was getting ready to get into a short for e/j, wasn't paying attention to the time. There was nice price action until the US market opened. Just gotta wait for for it to form again on the 30 min chart. :

Not looking for a crash and burn though, just a retracement.
5 traders viewing now