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Daily GBP/JPY analysis

  • #5,261
  • Jun 1, 2007 3:07am Jun 1, 2007 3:07am
Quoting zamans98
I see only 241.36 high. Where you get 241.40? Which broker are you with?
My live account short was at 241.37, though sell signal was above this.

I use EFX for live trading. I loovvvveeee EFX.

This is not an endorcement for EFX or MBTrading. But they are good.

I use Metatrader for charting.
.
  • #5,262
  • Jun 1, 2007 3:16am Jun 1, 2007 3:16am
Quoting forex_newbie
My live account short was at 241.37, though sell signal was above this.

I use EFX for live trading. I loovvvveeee EFX.

This is not an endorcement for EFX or MBTrading. But they are good.

I use Metatrader for charting.
.

Thanks. I'll check them out..
  • #5,263
  • Jun 1, 2007 3:17am Jun 1, 2007 3:17am
Quoting forex_newbie
Which system told you to short at 241.36? Or was it a signal service - if so which one?


.
no it was no signal sevice it was the PAR that i just showed it on the 1 hour chart
  • #5,264
  • Jun 1, 2007 3:49am Jun 1, 2007 3:49am
I'm kind of skeptical about trading technicals in GJ directly. I prefer trading GJ looking at CAble's and UJ's S&Rs.
  • #5,265
  • Jun 1, 2007 4:16am Jun 1, 2007 4:16am
Quoting cesarnc
I'm kind of skeptical about trading technicals in GJ directly. I prefer trading GJ looking at CAble's and UJ's S&Rs.
I've noticed that GJ responds to technicals better than Cable or UJ. RSI on Cable for example could be screaming Overbought!!! and it surges on regardless, while GJ always seems to have at least an initial retrace.

Anyway, its a Friday and technicals usually dont work as well, so I'm sticking with rumours, news and price action.

.
  • #5,266
  • Jun 1, 2007 4:49am Jun 1, 2007 4:49am

just a funny offtopic for USD CAD traders, from that guy on the news:
05:03usdcad bulls probably feel like their climbing mount everest"

We leave no soldier behind.
  • #5,267
  • Jun 1, 2007 5:00am Jun 1, 2007 5:00am
im still long and holding. Dont give a s... about rumors, they maybe fake until they are confirmed with serious movement. Not gonna short GY for falling 10 pips because of the rumor. Looking forward to another good bottom to fish.
We leave no soldier behind.
  • #5,268
  • Jun 1, 2007 5:06am Jun 1, 2007 5:06am
Quoting gagiul

just a funny offtopic for USD CAD traders, from that guy on the news:
05:03usdcad bulls probably feel like their climbing mount everest"

And do you know why????????

Because when USDCAD pushed to 0700, they said their strategy was FULL LONG USDCAD stop loss 0690 !!!!!

Now they are praying for a sharp recovery as to "told you so" everybody, but it's not working. Well, their SL is long gone already... I'm short from 0720 and happy



Quote
im still long and holding
Me too from 240.55. Either a rumour affect carry trades instantly, or does not at all..
  • #5,269
  • Jun 1, 2007 5:12am Jun 1, 2007 5:12am
BTW, I have also noticed that strong USD moves (whatever the direction) has benefited GBPJPY. As NFP is expected strong today, it might be stock market positive, too, thus carry trades positive...

So I'm keeping the GJ though the news, although it is likely a BUMPY ride til the end of the panic.
  • #5,270
  • Jun 1, 2007 5:15am Jun 1, 2007 5:15am
Quoting cesarnc
And do you know why????????

Because when USDCAD pushed to 0700, they said their strategy was FULL LONG USDCAD stop loss 0690 !!!!!

Now they are praying for a sharp recovery as to "told you so" everybody, but it's not working. Well, their SL is long gone already... I'm short from 0720 and happy



Me too from 240.55. Either a rumour affect carry trades instantly, or does not at all..
im honoured to have the same positions like you im short USD CAD from 1.0700 though, and to be honest I was one of the suckers who took their strategy - bought at. 1.0720 before the interest rate fall...pray for this downtrend to continue for some time.

If NFP comes out good, yeah, then they can say they were rite, even if a few pips below their stop.
We leave no soldier behind.
  • #5,271
  • Jun 1, 2007 5:20am Jun 1, 2007 5:20am
Quoting gagiul
im honoured to have the same positions like you im short USD CAD from 1.0700 though, and to be honest I was one of the suckers who took their strategy - bought at. 1.0720 before the interest rate fall...pray for this downtrend to continue for some time.
USDCAD is the "mother of the downtrends", printing new lows everyday. I can't see just one reason why the trend "will reverse" as broadcasted worldwide....

If you're patient enought and build short positions when it moves up, you will get the whole move down 100+ pips. Or you do as everybody in the FF is doing: long for 10 pip.

Ok, sorry the off-topic....

Quote
im honoured to have the same positions like you
There's no "honour" there.... I just prefer keeping positions inline with the trend in the waiting for the big move to come. I don't trade for quick 10 pips because it is 10x more stressful than a 2 days trade for 100 pips, provided you're in the right direction. This strategy works much better with trending pairs, that's why I'm off cable and euro for almost 2 weeks already... While USDCAD and carry trades (confirmed the world didn't die this week) are keeping their trends...

So either I'm long GJ (UJ, EJ, so forth) + short USDCAD or I'm out.
  • #5,272
  • Jun 1, 2007 5:57am Jun 1, 2007 5:57am
Quoting gagiul

just a funny offtopic for USD CAD traders, from that guy on the news:
05:03usdcad bulls probably feel like their climbing mount everest"

Here's another one from the guy...

06:53 USDCAD punished pre-NFP ... fresh lows below 1.0780
  • #5,273
  • Jun 1, 2007 5:58am Jun 1, 2007 5:58am
i don't see any reason for G/J to go down today, is there? i hope we see 242 today as we se UJ at 122
  • #5,274
  • Jun 1, 2007 6:11am Jun 1, 2007 6:11am
I'm still holding on to my shorts as upward movement not yet convincing. Hey I may be wrong, but its unwise to change tactics right now.

May bail out just before NFP. 1st major resistance on my chart is at 241.49.
  • #5,275
  • Jun 1, 2007 6:13am Jun 1, 2007 6:13am
Quoting chaoz
i don't see any reason for G/J to go down today, is there? i hope we see 242 today as we se UJ at 122
Most likely GJ to stall, while GU and UJ go in opposite direction at the news, which is 100% USD related.

The carry trades sentiment won't be hit by the news, as to inspire selloff. I wouldn't say 242 for today, but if UJ cracks the 122.00/20 and goes up (on positive NFP) then 242 is on the cards for next week...

Gotta pay attention on how strong the NFP will hit Cable, too, whatever the direction. As this pair is not finding sellers and buyers out of this dreaded 9750 / 9850 area for several, several days.
  • #5,276
  • Jun 1, 2007 7:51am Jun 1, 2007 7:51am
buy buy buy buy buy buy buy buy buy buy buy buy buy buy buy

g/j to 245 and then 250

buy buy buy buy buy buy buy buy buy buy
  • #5,277
  • Jun 1, 2007 8:17am Jun 1, 2007 8:17am
Quoting NewstraderFX
buy buy buy buy buy buy buy buy buy buy buy buy buy buy buy

g/j to 245 and then 250

buy buy buy buy buy buy buy buy buy buy


GJ was the steady trade in the news pack nonsense... Still holding from 240.55
  • #5,278
  • Jun 1, 2007 8:35am Jun 1, 2007 8:35am
Quoting NewstraderFX
buy buy buy buy buy buy buy buy buy buy buy buy buy buy buy

g/j to 245 and then 250

buy buy buy buy buy buy buy buy buy buy
Wowww still lots of money on the cards thats why I love this pair!
  • #5,279
  • Jun 1, 2007 8:47am Jun 1, 2007 8:47am
Prepare for the ISM news in 15 min if u trading U/J.

  • #5,280
  • Jun 1, 2007 8:50am Jun 1, 2007 8:50am
do the major banks know what the numbers will be before the news hits. because i see a pattern about 1-2 hrs before the news hits. just look at the nfp. before we saw the news at about 2-3 hrs the trend was going down on the e/u and the g/y pairs. this indecate that the majors banks receive the numbers before we see them. or they are really good at predicting the news numbers. your thougths guys.
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