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Daily GBP/JPY analysis

  • #5,481
  • Jun 5, 2007 11:27am Jun 5, 2007 11:27am
Quoting gagiul
Crazy day indeed. Tired of this B.S. style of trading. One minut u are in green 20, then after half an hour you are -20. Damn, we should make some laws against these guys. Wonder if Paulson is trading Forex, he should make a lot of profit.
Try trading carries splitting several small lots in UJ, GJ and EJ, several prices and hold. This way you override this whole noise in the market.

And use days like today to build positions, instead of banking profits. Patience is a key factor in these pairs.

TP partials at expected toppish prices, but always leave a small portion to run.
  • #5,482
  • Jun 5, 2007 11:32am Jun 5, 2007 11:32am
As cesar said, patience is the key here.....GJ will always keep running up an down like this atleast once a week. we need to build positions and wait on it....having lot of money and good money management is very important and necessary...
  • #5,483
  • Jun 5, 2007 11:33am Jun 5, 2007 11:33am
long @ 241.80.
BAM BAM BOOM! -bravado
  • #5,484
  • Jun 5, 2007 11:39am Jun 5, 2007 11:39am
Quoting ns_karthik
As cesar said, patience is the key here.....GJ will always keep running up an down like this atleast once a week. we need to build positions and wait on it....having lot of money and good money management is very important and necessary...
GJ is not a pair to trade if you cannot afford: 100 pips SL + waiting, imo.
  • #5,485
  • Jun 5, 2007 11:42am Jun 5, 2007 11:42am
Cesear,

Where u got this comment. UJ took another serious dip. Buying opportunity presented itself again!!! We are bagging it today!!!!

Quoting cesarnc
Last B.S. of the day, this time, taken to the highest levels..

12:05 Paulson commenting on china, without commenting on china. Net effect, anyone high ranking official that speaks about china causes the FX market to sell crosses and buy yen
  • #5,486
  • Jun 5, 2007 11:45am Jun 5, 2007 11:45am
Quoting newjersey24
Cesear,

Where u got this comment. UJ took another serious dip. Buying opportunity presented itself again!!! We are bagging it today!!!!
PM'd you.
  • #5,487
  • Jun 5, 2007 12:04pm Jun 5, 2007 12:04pm
out of long @ 241.75. will be looking for a better price.
BAM BAM BOOM! -bravado
  • #5,488
  • Jun 5, 2007 12:08pm Jun 5, 2007 12:08pm
Quoting bravado
out of long @ 241.75. will be looking for a better price.
or better price action. either will do.
BAM BAM BOOM! -bravado
  • #5,489
  • Jun 5, 2007 12:08pm Jun 5, 2007 12:08pm
Quoting bravado
long @ 241.80.
missed it as I was out, its the 78.6 fib of the last run up at 241.73 so I guess long is a reasonable position. I am long at 77. May have to buy again lower though.
  • #5,490
  • Jun 5, 2007 12:11pm Jun 5, 2007 12:11pm
Quoting musicman007
missed it as I was out, its the 78.6 fib of the last run up at 241.73 so I guess long is a reasonable position. I am long at 77. May have to buy again lower though.
i'm not liking the price action atm. the crowd look very very confused. bailed out @ 241.75.
BAM BAM BOOM! -bravado
  • #5,491
  • Jun 5, 2007 12:11pm Jun 5, 2007 12:11pm
Quoting bravado
out of long @ 241.75. will be looking for a better price.
patient is the key
  • #5,492
  • Jun 5, 2007 12:13pm Jun 5, 2007 12:13pm
Quoting bravado
i'm not liking the price action atm. the crowd look very very confused.
I can see that. which is where the opporunity lies. I am out with 20 pips and setting a buy at 241.05 with a tp at 241.25
  • #5,493
  • Jun 5, 2007 12:15pm Jun 5, 2007 12:15pm
13:11Looks like someone made a wrong price below 164 in EUR/JPY

With all the commotion, EJ barely sustains below-164 prices... This is bullish for the yen pairs in the short term.

Also, GU and EU are not coming down to configure a carry trade unwinding.
  • #5,494
  • Jun 5, 2007 12:24pm Jun 5, 2007 12:24pm
Quoting musicman007
I can see that. which is where the opporunity lies. I am out with 20 pips and setting a buy at 241.05 with a tp at 241.25
its either above or below current level. i won't be trading on this level 241.80 at this time.

i'll probably buy above this level and be extra careful if it goes below 241.00~241.30.

but again, things can change fast. 241.80 was a good place to go long just few days ago.
BAM BAM BOOM! -bravado
  • #5,495
  • Jun 5, 2007 12:33pm Jun 5, 2007 12:33pm
I think we should call Greenpeace... What NYC is doing to the bulls is just not right
  • #5,496
  • Jun 5, 2007 12:44pm Jun 5, 2007 12:44pm
Quoting bravado
its either above or below current level. i won't be trading on this level 241.80 at this time.

i'll probably buy above this level and be extra careful if it goes below 241.00~241.30.

but again, things can change fast. 241.80 was a good place to go long just few days ago.
forget this gibberish. just was focused on the moment.

if gj reaches 241.00 area, the chart will tell a different story. no need to be careful there unless you see a reason to then.

also, any level is good to trade. if you see a reason to.

just don't see one right now.

these are much better statements.
BAM BAM BOOM! -bravado
  • #5,497
  • Jun 5, 2007 1:11pm Jun 5, 2007 1:11pm
Quoting cesarnc
Try trading carries splitting several small lots in UJ, GJ and EJ, several prices and hold. This way you override this whole noise in the market.

And use days like today to build positions, instead of banking profits. Patience is a key factor in these pairs.

TP partials at expected toppish prices, but always leave a small portion to run.
Thanx a lot, cesarnc.

Bought GBP/JPY at 241.80, stop 241.20.
EUR/JPY 164.00, stop 163.50.
We leave no soldier behind.
  • #5,498
  • Jun 5, 2007 2:05pm Jun 5, 2007 2:05pm
Important Yen Alert! ISM today show increasing inflation, and coupled with Bernanke's speach we beleive that not only is there the odea of a fed interest rate cut out of the picture, but the options market is pricing in a a rate increase. we will wait for further data. However, we decided to close our USD/JPY, and are considering now a buy.

...
...

Have A Great Trade,
Robert Sharpe
  • #5,499
  • Jun 5, 2007 2:13pm Jun 5, 2007 2:13pm
hi guys,

EMA 5 open, close intercepts above BB, RSI and STOCK intercepts also on the overbought territory. That is daily chart...be careful...this is a sell signal to GBP/JPY on 241.75 area.

C U
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  • #5,500
  • Jun 5, 2007 3:27pm Jun 5, 2007 3:27pm
I agree on the sell signal if it sustains a break below the 10 Day MA, at 241.45. But it's bounced of that line twice in the last few of days, including earlier today. I'm waiting, and wishing I hadn't stopped my short - it would have been profitable by now
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