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Daily GBP/JPY analysis

  • #5,601
  • Jun 7, 2007 10:24am Jun 7, 2007 10:24am
Quoting gagiul
This pair continues to surprise me, when I leave from the computer. I was gladly adding more and more longs and was sure it will reach 242.50 today . Damn, I will buy at 239.70. Until there, I guess its short time.
same here... wow, what a week....

Dow jones was smashed right at 11am EST, after putting the nose out of the water twice today...
  • #5,602
  • Jun 7, 2007 10:29am Jun 7, 2007 10:29am
Wait for take long..
  • #5,603
  • Jun 7, 2007 10:31am Jun 7, 2007 10:31am
Quoting gagiul
This pair continues to surprise me, when I leave from the computer. I was gladly adding more and more longs and was sure it will reach 242.50 today . Damn, I will buy at 239.70. Until there, I guess its short time.
It is headed there but 239.70 is a key level. If it breaks down, it will make a lower-low on longer term trading and could break the uptrend. 239.70 would be great for a long entry with a tight stop and a quick scalp from the bounce it should make. For now, I am still short (for the short term). But, if it breaks down, I will look for short entries.
  • #5,604
  • Jun 7, 2007 10:34am Jun 7, 2007 10:34am
i am waiting for enter long at 239.80 looking for TP at 242.00 and SL 238.60.
  • #5,605
  • Jun 7, 2007 10:35am Jun 7, 2007 10:35am
Quoting cesarnc
same here... wow, what a week....
this week has been a great week to make trades.
BAM BAM BOOM! -bravado
  • #5,606
  • Jun 7, 2007 10:44am Jun 7, 2007 10:44am
I have also been trading GBP/JPY. Yielding good profits.
  • #5,607
  • Jun 7, 2007 10:47am Jun 7, 2007 10:47am
Watch for 12:00GMT... Those last few days, the big push down came just after....

In that case, a possible long entry would be by Tokyo/Shanghai time only...

This is what is happening these days, not that it cannot act otherwise
  • #5,608
  • Jun 7, 2007 11:37am Jun 7, 2007 11:37am
technically speaking, i am starting to think that the so much expected retracement is gonna start from today. GY not yet gave signs, but EY broke below a trendline from April. GU fell more than 100 pips today (I got only 50) and EU still under downtrend line and falling....UY doesnt look too good to maintain an upmove...will buy at 239.70 with a very tight stop, but im not too sure it will hold though....
We leave no soldier behind.
  • #5,609
  • Jun 7, 2007 11:50am Jun 7, 2007 11:50am
GU, EU and UJ going down together... now it's got the unwinding stamp on it... I'm out and short GJ now... Will get back long only on healthy stock market....
  • #5,610
  • Jun 7, 2007 12:00pm Jun 7, 2007 12:00pm
long @ 238.90.
BAM BAM BOOM! -bravado
  • #5,611
  • Jun 7, 2007 12:06pm Jun 7, 2007 12:06pm
Quoting bravado
long @ 238.90.
Can this be a final turn up and end of the retracement?

Regards

Mike
  • #5,612
  • Jun 7, 2007 12:08pm Jun 7, 2007 12:08pm
So now, what's about that strong support at 239,60/40 ???
Still short
tiku.
always expect the unexpected!
  • #5,613
  • Jun 7, 2007 12:09pm Jun 7, 2007 12:09pm
Quoting tiku
So now, what's about that strong support at 239,60/40 ???
Still short
tiku.
I'm eyes on 121.00/120.85. If this area goes, down we go....
  • #5,614
  • Jun 7, 2007 12:11pm Jun 7, 2007 12:11pm
GUESS WHO?

Trichet on the wires....
  • #5,615
  • Jun 7, 2007 12:13pm Jun 7, 2007 12:13pm
nice moviment today...

High = 242.13
Low = 238.94

319 pips high-low.
  • #5,616
  • Jun 7, 2007 12:13pm Jun 7, 2007 12:13pm
Long at 239.35 which is S3. Currently holding but did bounce off the daily trendline at 238.89.

If it goes below this I'm bailing out of any longs. Looks like GJ is back to its 300-500 daily pip moves.

.
  • #5,617
  • Jun 7, 2007 12:14pm Jun 7, 2007 12:14pm
Quoting Michael O.
Can this be a final turn up and end of the retracement?

Regards

Mike
i need to watch the price action. immediate answer is no.

however a good place to go long where the risk in your favor.
BAM BAM BOOM! -bravado
  • #5,618
  • Jun 7, 2007 12:15pm Jun 7, 2007 12:15pm
Quoting cesarnc
I'm eyes on 121.00/120.85. If this area goes, down we go....
LOL - isnt 300 down since yesterday morning sufficient?

Very oversold IMO - just got +43 in the bounce off 239.00 - now San Miguel quality control time, so probably calling it a day.
Trading Levels with WRBs
  • #5,619
  • Jun 7, 2007 12:15pm Jun 7, 2007 12:15pm
Quoting forex_newbie
Long at 239.35 which is S3. Currently holding but did bounce off the daily trendline at 238.89.

If it goes below this I'm bailing out of any longs. Looks like GJ is back to its 300-500 daily pip moves.

.
i'm with you on this.
BAM BAM BOOM! -bravado
  • #5,620
  • Jun 7, 2007 12:16pm Jun 7, 2007 12:16pm
Quoting bravado
i need to watch the price action. immediate answer is no.

however a good place to go long where the risk in your favor.

thanks

Mike
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