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Daily GBP/JPY analysis

  • #5,141
  • May 30, 2007 12:16pm May 30, 2007 12:16pm
Quoting shadeslay
Decent dojo on the 30 min off the 2400 range (possibly forming on the 1h), which is also close the the 4h trendline up (249.70 range), still seems to have some downward momentum. Possible long position if it forms, but still on my toes about fundamentals. So taking the wait and see approach for now. If it makes a significant breach the trendline I'll likely go short.
.........which is also close the the 4h trendline up (249.70 range)......
Do we have a tradeline up to 249.70, or it is a typo, 239.70 actually?
  • #5,142
  • May 30, 2007 12:26pm May 30, 2007 12:26pm
What is GOB?
Gone to a better place
  • #5,143
  • May 30, 2007 12:31pm May 30, 2007 12:31pm
Quoting trader8686
.........which is also close the the 4h trendline up (249.70 range)......
Do we have a tradeline up to 249.70, or it is a typo, 239.70 actually?

It's a typo. the trendline is at or about 239.70 atm.
Gone to a better place
  • #5,144
  • May 30, 2007 12:45pm May 30, 2007 12:45pm
Quoting trader8686
.........which is also close the the 4h trendline up (249.70 range)......
Do we have a tradeline up to 249.70, or it is a typo, 239.70 actually?
lol ya a typo, it's 239.70
  • #5,145
  • May 30, 2007 12:46pm May 30, 2007 12:46pm
going long at 239.75. Come on...
  • #5,146
  • May 30, 2007 12:53pm May 30, 2007 12:53pm
Best to wait till after the FOMC minutes.

Also note that the DOW is now negative:

Dow turns negative and the JPY crosses get hit




.
  • #5,147
  • May 30, 2007 12:57pm May 30, 2007 12:57pm
Quoting forex_newbie
Best to wait till after the FOMC minutes.

Also note that the DOW is now negative:

Dow turns negative and the JPY crosses get hit




.
When is FOMC minutes?
  • #5,148
  • May 30, 2007 12:58pm May 30, 2007 12:58pm
Everybody sell gj...the trend is cleary down
Sorry about my english...
  • #5,149
  • May 30, 2007 12:59pm May 30, 2007 12:59pm
Quoting trader8686
When is FOMC minutes?
In about 1 minute.
  • #5,150
  • May 30, 2007 1:00pm May 30, 2007 1:00pm
Quoting CIORIMAU--
Everybody sell gj...the trend is cleary down
Can you provide more information?
  • #5,151
  • May 30, 2007 1:04pm May 30, 2007 1:04pm
look the 4h and daily charts man....and the down jones is down,sangahi too...
Sorry about my english...
  • #5,152
  • May 30, 2007 1:08pm May 30, 2007 1:08pm
FOMC minutes:

FOMC MINUTES FROM MAY 9TH: INFLATION REMAINS PREDOMINANT CONCERN; HOUSING TO WEIGH ON GROWTH LONGER THAN ANTICIPATED - inflation remains uncomfortably high
- consumer spending to grow at more moderate pace
- prospects for growth, prices have not changed much
- downside risk to capital spending has diminished
- cautions that sluggish equipment spending may persist
- inflationary pressure overseas has increased
- fixed investment seemed most likely to move higher
- dollar drop may reinforce pressure in import prices
- labor market remains relatively tight
- job market still significant upside risk to inflation
- sees GDP growing a little below potential for rest of year
  • #5,153
  • May 30, 2007 1:11pm May 30, 2007 1:11pm
Quoting CIORIMAU--
look the 4h and daily charts man....and the down jones is down,sangahi too...
I agree, and I read an artical may go down to 225-228.
Will you think it is too low?
I need to find it and post it here.
  • #5,154
  • May 30, 2007 1:26pm May 30, 2007 1:26pm
On GJ The 14 period CCI crossed over the 100 mark yesterday on the dailies, but the hourlies are oversold. Missed this sell signal yesterday, and weeklies are mixed, so personally, waiting for a rally to sell now, and making tiny scalping trades in between.
Pretty flat right now - seems 239.70/80 is supporting.
I'm currently long hoping support holds so I can catch some of this hypothetical rally.
  • #5,155
  • May 30, 2007 1:50pm May 30, 2007 1:50pm
Quoting trader8686
I agree, and I read an artical may go down to 225-228.
Will you think it is too low?
I need to find it and post it here.
so man look the ema100.i think that the candle will cross down the ema100 and will be a perfect signal to enter.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 65 KB
Sorry about my english...
  • #5,156
  • May 30, 2007 1:54pm May 30, 2007 1:54pm
sorry trader,

look to this graphics.
Attached Image
Sorry about my english...
  • #5,157
  • May 30, 2007 2:04pm May 30, 2007 2:04pm
Quoting CIORIMAU--
sorry trader,

look to this graphics.
Nice Boddy, but what are you trying to show us on this one. I understood the last one, with re-entry candle.
  • #5,158
  • May 30, 2007 2:12pm May 30, 2007 2:12pm
42 (38%) and 63 (50%) fib, possibly areas of interest to determine if it's just a retracement or continuation of longer term trend. Hitting resistance of the 23% fib and closing on the down trendline currently (which is close to the 38% fib).
  • #5,159
  • May 30, 2007 2:46pm May 30, 2007 2:46pm
i told you guys this morning to watch out at the 89ma for a bounce. well it did bounce but it stalled now. now where to go.
  • #5,160
  • May 30, 2007 2:50pm May 30, 2007 2:50pm
I would say id like to see it clear 240.50 if support holds at the 89 ema that would provide a good base for an assualt on 241.50 high,,,

looking at this from monthly chart view its still in a strong uptrend, price is attacking consistently higher levels... theres alot more upmove potential based on previous historical highs.
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