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Daily GBP/JPY analysis

  • #5,061
  • May 29, 2007 7:57pm May 29, 2007 7:57pm
support is at the 200 ma. just at the bounce it did at that number. i meant the u/y. is this the wrong place to discuss the yen crosses besides the g/y?
  • #5,062
  • May 29, 2007 7:59pm May 29, 2007 7:59pm
Quoting trader8686
Ok, just need a reason to learn for this one: why is this pair going down?
The Industrial Production number is -0.1% (bad).
There are exceptions to guidelines and the Japanese news is no exception, but this is a good lesson because without our guidelines (worst than expected is a sign of weakness), market analysis would be a science of exactitued instead of probability. We can never be overly confident - 'A' results in 'B'. What we can see and react to is market action. Oh! It's going down. But now the question turns to - how far down before it goes up again? The result is that traditional technical analysis has a greatly increased value in that it serves to aid in the answer to our question in identifying the markets exact position and direction.
  • #5,063
  • May 29, 2007 8:27pm May 29, 2007 8:27pm
Shanghai composite opened -6% down----B shares down by 9% -----the fun begins---looks like, this could be a gatecrash---stampede for carry exits for now---
  • #5,064
  • May 29, 2007 8:36pm May 29, 2007 8:36pm
It sure is fun, is it not?
  • #5,065
  • May 29, 2007 8:37pm May 29, 2007 8:37pm
What a bounce!
Period : 26 Months Account Balance : +264% Max DD : 14.2%
  • #5,066
  • May 29, 2007 8:39pm May 29, 2007 8:39pm
Gotta tell you.. those Chinese investors got BALLS... All indexes opened -5% or lower and market is BUYING!!!

  • #5,067
  • May 29, 2007 8:39pm May 29, 2007 8:39pm
20 pip bounce upwards on the USDJPY and a 40 pip bounce up on the EURJPY - wow! Many sources were saying the carries might unwind - guess they were wrong! Well, at least for now that is - looks like this might be a bumpy ride!
  • #5,068
  • May 29, 2007 8:40pm May 29, 2007 8:40pm
Why didn't it go south?
  • #5,069
  • May 29, 2007 8:41pm May 29, 2007 8:41pm
Quoting yezbick
Why didn't it go south?
Coz the stock market in China is going up

21:44 Unbelievable squeeze in the yen crosses as Shaghai bounces off the lows.
  • #5,070
  • May 29, 2007 8:45pm May 29, 2007 8:45pm
or theres nowhere else left for them to stash all that cash theyve been saving up lol.

Quoting cesarnc
Gotta tell you.. those Chinese investors got BALLS... All indexes opened -5% or lower and market is BUYING!!!

  • #5,071
  • May 29, 2007 8:45pm May 29, 2007 8:45pm
Quoting cesarnc
Coz the stock market in China is going up
Cesarnc,
Which website can we read the China market index?
  • #5,072
  • May 29, 2007 8:46pm May 29, 2007 8:46pm
Quoting trader8686
Cesarnc,
Which website can we read the China market index?
http://www.sse.com.cn/sseportal/en_us/ps/home.shtml

http://www.szse.cn/main/en/marketdat...esperformance/
  • #5,073
  • May 29, 2007 8:47pm May 29, 2007 8:47pm
Quoting cesarnc
Coz the stock market in China is going up

21:44 Unbelievable squeeze in the yen crosses as Shaghai bounces off the lows.
I was just hit worse than I have been in a very long while. I was trading EUR/JPY and was up 25 and was down 30 when I looked back 2 minutes later. I swear ... crazy. I am a bit red faced right now.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #5,074
  • May 29, 2007 8:50pm May 29, 2007 8:50pm
dont worry, almost same thing to me. now im like should i stay flat or go short again. god the markets can be awesome and scary when it moves both ways... chop chop
  • #5,075
  • May 29, 2007 8:52pm May 29, 2007 8:52pm
Quoting StockKJay
I was just hit worse than I have been in a very long while. I was trading EUR/JPY and was up 25 and was down 30 when I looked back 2 minutes later. I swear ... crazy. I am a bit red faced right now.
hehehe.. I was short + 40 and was stopped at B/E

Ok, rumours and gossips and greenspan and bloomberg and experts from around the world. Now China raise tax by 3x. None of them was able to scare one single freaking Chinese investor so far...

I tell you this, if Chinese markets close green today, I'm back to the books.
  • #5,076
  • May 29, 2007 9:04pm May 29, 2007 9:04pm
Quoting cesarnc
Coz the stock market in China is going up

21:44 Unbelievable squeeze in the yen crosses as Shaghai bounces off the lows.

Still don't completely understand. I'm showing the Chinese composite down 3% right now.
  • #5,077
  • May 29, 2007 9:07pm May 29, 2007 9:07pm
still a possibility a short play will work out today, just most likely not the big move we mightve enjoyed immensely ...

Quoting yezbick
Still don't completely understand. I'm showing the Chinese composite down 3% right now.
  • #5,078
  • May 29, 2007 9:09pm May 29, 2007 9:09pm
Quoting yezbick
Still don't completely understand. I'm showing the Chinese composite down 3% right now.
I a market commentary I've seen, looks like the market won't take it as a "crash" by 1-2% a day.

Looks like -6% a day is the figure everybody wants to see.
  • #5,079
  • May 29, 2007 9:10pm May 29, 2007 9:10pm
I've been buying dips on this beast for a while and the one time i listen to those bloody market big mouths "imminent carry unwinding" i get a hiding.

anyone still see a carry unwind?
  • #5,080
  • May 29, 2007 9:15pm May 29, 2007 9:15pm
can we trade the chinese currency anywhere?
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