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Daily GBP/JPY analysis

  • #5,201
  • May 31, 2007 6:08am May 31, 2007 6:08am
still keeping my eye on this one.

better price below.
BAM BAM BOOM! -bravado
  • #5,202
  • May 31, 2007 6:16am May 31, 2007 6:16am
audjpy. that looks a good sell.

gbpjpy. wait on it.
BAM BAM BOOM! -bravado
  • #5,203
  • May 31, 2007 6:35am May 31, 2007 6:35am
Quoting trader8686
Can you share with me the ema indicator EA?
The Moving Average indictator comes as standard, embedded within Metatrader - you will find it under 'indicators' (not custom indicators).

Select the Exponential option (ema = exponential moving average)


.
  • #5,204
  • May 31, 2007 6:42am May 31, 2007 6:42am
  •  4x_Trader
  • Joined Dec 2006 | Status: Is the market a FRIENDLY place to U | 639 Posts | Online Now
Profitable hedge next month:

Long GBPJPY
Short USDJPY

Let us see if my system generated indicators is a profitable one....
  • #5,205
  • May 31, 2007 6:42am May 31, 2007 6:42am
Quoting forex_newbie
The Moving Average indictator comes as standard, embedded within Metatrader - you will find it under 'indicators' (not custom indicators).

Select the Exponential option (ema = exponential moving average)
What is the indicator name?
  • #5,206
  • May 31, 2007 6:43am May 31, 2007 6:43am
Quoting gagiul
i dont know to who should I thanx for the recent GU up move, but I am happy. Back to bottom fishing. 239.60 is a tough nut to break....

However, 240.60 was a former support, so I will be careful around that for at least a short reversal to provide another good buying opportunity
Did you say GJ, or GU?
  • #5,207
  • May 31, 2007 6:47am May 31, 2007 6:47am
Quoting trader8686
What is the indicator name?
Moving Average, exponential option
  • #5,208
  • May 31, 2007 6:57am May 31, 2007 6:57am
Quoting forex_newbie
Moving Average, exponential option
Thanks, I need to learn how to read this one.
I guess above it to buy, and below this line to short ?
  • #5,209
  • May 31, 2007 7:02am May 31, 2007 7:02am
Im off any new entry positions till 1:30pm GMT (8:30 EDT) when a heap of serious data comes in.

If I miss the 240.55 boat on the way up I'll try and enter on the dip.

The 30 minutes b/t now and and then seems too short to salvage a wrong entry.
  • #5,210
  • May 31, 2007 7:11am May 31, 2007 7:11am
Quoting trader8686
Thanks, I need to learn how to read this one.
I guess above it to buy, and below this line to short ?
In theory yes - the main reason I, and many others, enjoy trading GJ is its almost religious response to indicator levels such as ema's, fib levels, camarilla and pivot points. Other pairs such as usdchf and euro are rubbish at obeying these levels.

Look for reversals at the ema points. Be cautious if the pair has bounced 3 times previously as the next hit may be a break-out. Enter in the trend direction only after a confirmed break-out.


.
  • #5,211
  • May 31, 2007 7:13am May 31, 2007 7:13am
Quoting trader8686
Did you say GJ, or GU?
I referred to GU for the last upward move, as it can be seen on the charts. This dragged a little bit GY up, but GY is mixed now between UY down and GU up, and also 240. 60 is a resistance in my opinion, so better wait to see which one will GY follow - UY or GU.
We leave no soldier behind.
  • #5,212
  • Edited 7:29am May 31, 2007 7:14am | Edited 7:29am
Quoting forex_newbie
In theory yes - the main reason I, and many others, enjoy trading GJ is its almost religious response to indicator levels such as ema's, fib levels, camarilla and pivot points. Other pairs such as usdchf and euro are rubbish at obeying these levels.

Look for reversals at the ema points. Be cautious if the pair has bounced 3 times previously as the next hit may be a break-out. Enter in the trend direction only after a confirmed break-out.


.
Thanks, and what is camarilla? Do I also have it on MT4? And,
How do I tell the reversal trend by the ema?
  • #5,213
  • May 31, 2007 7:42am May 31, 2007 7:42am

Dow and Shanghai in the green, GY broke above 240.60. Time to load up the guns....I hope.

We leave no soldier behind.
  • #5,214
  • May 31, 2007 8:20am May 31, 2007 8:20am
Quoting gagiul
I referred to GU for the last upward move, as it can be seen on the charts. This dragged a little bit GY up, but GY is mixed now between UY down and GU up, and also 240. 60 is a resistance in my opinion, so better wait to see which one will GY follow - UY or GU.
UY has a nice pennant formed on the 4h & is itching to breakout. I am not convinced GU is an upper just yet. It's breaking through the upper channel but is developing a sideways pattern (until it makes a higher-high). I would like to see GY drop to its fib at 236.89 for a buy. By the time it gets there it might meet the 100ema for a party! Meanwhile, scalp away...
  • #5,215
  • May 31, 2007 8:24am May 31, 2007 8:24am
Quoting bravado
audjpy. that looks a good sell.
good sell indeed. audjpy just made multi year highs. -75 pips. this one did some damage to my account.
BAM BAM BOOM! -bravado
  • #5,216
  • May 31, 2007 9:21am May 31, 2007 9:21am
up up up. Incredible USD news, and luckily UY broke out of the triangle. I hope its not the fake break before the fall. I regret now I shorted UY instead of buying it as usual. Very curios how it will react to 122. Meanwhile, Im gonna drop my GY trade at 241.10-20....and wait for the usual japanese retracement to buy more dips.
We leave no soldier behind.
  • #5,217
  • May 31, 2007 9:40am May 31, 2007 9:40am
Quoting gagiul
up up up. Incredible USD news, and luckily UY broke out of the triangle. I hope its not the fake break before the fall. I regret now I shorted UY instead of buying it as usual. Very curios how it will react to 122. Meanwhile, Im gonna drop my GY trade at 241.10-20....and wait for the usual japanese retracement to buy more dips.
May I ask you what is so called "usual japanese retracement "?
May I learn this from you?
  • #5,218
  • May 31, 2007 10:03am May 31, 2007 10:03am
I'm thinking of entering a short position on the USDJPY - any thoughts?
  • #5,219
  • May 31, 2007 10:05am May 31, 2007 10:05am
Quoting ~Shard~
I'm thinking of entering a short position on the USDJPY - any thoughts?
Why?
  • #5,220
  • May 31, 2007 10:17am May 31, 2007 10:17am
sold gj @ 2.4100.
BAM BAM BOOM! -bravado
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