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Daily GBP/JPY analysis

  • #5,821
  • Jun 8, 2007 10:22am Jun 8, 2007 10:22am
This fella caused a lot of people to lose money today. I say we knock on his door. He tried to trip up markets in their major selloff. I don't like this guy anymore. This was a poor trick and shows lack of morals.

"Before the market open, stock futures stabilized after Chicago Federal Reserve President Michael Moskow said in an interview with CNBC that while inflation is the predominant concern for the Fed, inflation expectations are well contained and the current benchmark interest rate is appropriate for now."
It really is that easy.
  • #5,822
  • Jun 8, 2007 10:26am Jun 8, 2007 10:26am
Quoting THE FxORCE
This fella caused a lot of people to lose money today. I say we knock on his door. He tried to trip up markets in their major selloff. I don't like this guy anymore. This was a poor trick and shows lack of morals.

"Before the market open, stock futures stabilized after Chicago Federal Reserve President Michael Moskow said in an interview with CNBC that while inflation is the predominant concern for the Fed, inflation expectations are well contained and the current benchmark interest rate is appropriate for now."
What is the source? I didn't see that....
  • #5,823
  • Jun 8, 2007 10:26am Jun 8, 2007 10:26am
does anyone play fractal breakouts on GJ? or any pair...
4hr fractal breakout for GJ is short at 237.59. The stoploss can be reasonable like 100 pips on GJ for a win of 200+ pips. If trend is present as it seems to be right now you could ride this down for another 1000 pips like the previous unwind.
It really is that easy.
  • #5,824
  • Jun 8, 2007 10:27am Jun 8, 2007 10:27am
gj longs, watch for a bounce from current level.

uj longs. you are safe.
BAM BAM BOOM! -bravado
  • #5,825
  • Jun 8, 2007 10:32am Jun 8, 2007 10:32am
Dow on the rise again lol


Heavy resistance to sells @ 238.85
  • #5,826
  • Jun 8, 2007 10:36am Jun 8, 2007 10:36am
Quoting yezbick
38.2 fib @ 238.97 giving it some trouble
yezbick,

What is your highest and lowest point for this fib number?
  • #5,827
  • Jun 8, 2007 10:38am Jun 8, 2007 10:38am
although it pains me i didn't pick up more shares at 237.75.

http://www.forexfactory.com/showpost...postcount=5723

oh well.
BAM BAM BOOM! -bravado
  • #5,828
  • Jun 8, 2007 10:47am Jun 8, 2007 10:47am
hi i'm bravado.

and i mastertrade EVERYDAY.
BAM BAM BOOM! -bravado
  • #5,829
  • Jun 8, 2007 10:48am Jun 8, 2007 10:48am
Quoting cesarnc
I smell BBQ in NYC.... Dow Jones red after +50 in the morning....

12am+ EST is been when selloff increases.... One the cards today again
Hickory or Mesquite I'm still short from 239.45
Patience + Humility + Study = Success
  • #5,830
  • Jun 8, 2007 10:52am Jun 8, 2007 10:52am
Quoting trader8686
yezbick,

What is your highest and lowest point for this fib number?

237.77

239.71
  • #5,831
  • Jun 8, 2007 11:14am Jun 8, 2007 11:14am
It looked before the stockmarket opened that the "stochs" were setting up for a short. Since the open though it's been totaly indecisive and virtually untradable. Seems to want to go down but will the Dow let it?? Bloomberg (everything's wonderful with the economy ) TV's Dow volatility meter is "gyrating" ..as they put it.. ...loved that...Maybe another move later but made a bit ealier so might pack it in for the day (night where I am).

Japanese dilemma...When stocks go down and consumer spending slows the Yen goes up ....not quite what you want with an export led economy
  • #5,832
  • Jun 8, 2007 11:36am Jun 8, 2007 11:36am
The place seems to be calming down, isn't it ?
  • #5,833
  • Jun 8, 2007 11:39am Jun 8, 2007 11:39am
Quoting THE FxORCE
does anyone play fractal breakouts on GJ? or any pair...
4hr fractal breakout for GJ is short at 237.59. The stoploss can be reasonable like 100 pips on GJ for a win of 200+ pips. If trend is present as it seems to be right now you could ride this down for another 1000 pips like the previous unwind.
i don't know what fractal breakouts are (sounds interesting) but i see 237.50-60 as a tipping point also. although i think carries may be turning bullish again so i don't know if we'll see it. for now i think GJ will consolidate in the 239.00-239.50 range for the rest of the session while the market reorients itself. GU downside may be limited as well, around 1.9550 imo.
  • #5,834
  • Jun 8, 2007 11:40am Jun 8, 2007 11:40am
Quoting melpheos
The place seems to be calming down, isn't it ?
Right at levels that make next week unpredictable.
  • #5,835
  • Jun 8, 2007 11:45am Jun 8, 2007 11:45am
thats good in a way...stops us from building positions which might go wrong....
  • #5,836
  • Edited 2:18pm Jun 8, 2007 11:50am | Edited 2:18pm
Quoting cesarnc
Right at levels that make next week unpredictable.
Yes... 238.9... what do i do with my hedge ??? Do i stick with it expecting for a sell off and a gap over the week or close expecting for a reversal...

I have the feeling that keeping it is safer but i hate to pay the swap :-/

Edit : seems to want to go on the upside but it's friday, who knows ? US market is well oriented now... I'm thinking...
  • #5,837
  • Jun 8, 2007 2:38pm Jun 8, 2007 2:38pm
After all we were forced to see during the week, dow jones is going to the weekend +120 points....

Go figure.....
  • #5,838
  • Jun 8, 2007 3:07pm Jun 8, 2007 3:07pm
Quoting cesarnc
After all we were forced to see during the week, dow jones is going to the weekend +120 points....

Go figure.....
Hello Cesarnc,

it's a silly question maybe, but, does Dow Jones ending day in significant + mean that GBP/JPY and USD/JPY wil get a push up?

Regards

Mike
  • #5,839
  • Jun 8, 2007 3:38pm Jun 8, 2007 3:38pm
Quoting Michael O.
Hello Cesarnc,

it's a silly question maybe, but, does Dow Jones ending day in significant + mean that GBP/JPY and USD/JPY wil get a push up?

Regards

Mike
nothing sure here, the market is doing strange things now... We will see how China reacts.

If SSE is up, we are good for rally to the north. Otherwise, we will see another massive unwind.

Some analysts sees the dow @ 14000 and we are just 560 point from there...
  • #5,840
  • Jun 8, 2007 3:44pm Jun 8, 2007 3:44pm
Quoting melpheos
nothing sure here, the market is doing strange things now... We will see how China reacts.

If SSE is up, we are good for rally to the north. Otherwise, we will see another massive unwind.

Some analysts sees the dow @ 14000 and we are just 560 point from there...

Thanks Melpheos,

Regards

Mike
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