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Daily GBP/JPY analysis

  • #5,881
  • Jun 11, 2007 7:38pm Jun 11, 2007 7:38pm
going to start posting my orders when i go in and out instead of just reading what orther ppl say buy 239.70 looking to take profit either at 240.96 or at 241.88 or there about
  • #5,882
  • Jun 11, 2007 7:58pm Jun 11, 2007 7:58pm
market looks like crap. I was at LEVEL II market and viewing the queue trade lots at NY Session.

What I can say that the movements lately does not based on fundamentals or economics indicators, but purely "hunch" and fear.
  • #5,883
  • Jun 11, 2007 8:00pm Jun 11, 2007 8:00pm
Quoting PipJunkie
going to start posting my orders when i go in and out instead of just reading what orther ppl say buy 239.70 looking to take profit either at 240.96 or at 241.88 or there about
What your point is that this pair is going to go up?
(indeed, it is going up)
  • #5,884
  • Jun 11, 2007 8:18pm Jun 11, 2007 8:18pm
Quoting trader8686
(indeed, it is going up)
It is still unclear. YEN is holding 120.85 (thick resistant)
We will not be seeing 241-242 this week, based on the latest movements.
  • #5,885
  • Jun 11, 2007 8:19pm Jun 11, 2007 8:19pm
Quoting zamans98
It is still unclear. YEN is holding 120.85 (thick resistant)
We will not be seeing 241-242 this week, based on the latest movements.
I noticed that, already.
It is retraceing.
  • #5,886
  • Jun 11, 2007 8:29pm Jun 11, 2007 8:29pm
Quoting zamans98
It is still unclear. YEN is holding 120.85 (thick resistant)
We will not be seeing 241-242 this week, based on the latest movements.
Do you have any idea as for the ending of this correction?
What should we see, if this correction has come to an end?
  • #5,887
  • Edited 9:12pm Jun 11, 2007 8:30pm | Edited 9:12pm
China inflation rate is highest in two years.
CPI +3.4% announced.
  • #5,888
  • Jun 11, 2007 8:54pm Jun 11, 2007 8:54pm
Better wait for a day or two to find the right direction. until then, maybe u could scalp between the resistance and support..
  • #5,889
  • Jun 11, 2007 9:12pm Jun 11, 2007 9:12pm
Quoting ns_karthik
Better wait for a day or two to find the right direction. until then, maybe u could scalp between the resistance and support..
Indeed, we have US PPI (Thu) and CPI (Fri) coming up.
  • #5,890
  • Jun 11, 2007 10:07pm Jun 11, 2007 10:07pm
times shown (in light blue) are MT4 times.
Attached Image (click to enlarge)
Click to Enlarge Name: time1.jpg Size: 60 KB
  • #5,891
  • Edited 4:48am Jun 12, 2007 2:19am | Edited 4:48am
heading to EMA50 H4 and there is ichimoku cloud around 241.40 above it.

let see if H4 is broken or not then go ahead for the cloud and up to the blue sky ^^

note that we are now above the cloud on H1 and well above EMA50 as well as above EMA5 of high, also there is good sign of reversal on the daily chart with Boxingislife sexy stochastic strategy

Edit : i have reopened my hedge @ 240.00 Latest figures are poor and seems to show than finaly the numerous rate hikes has some effects. Let see tomorrow news. EMA50 on M5-M15 broken an M30 is also about to be broken. Price bounced down on H4 so the reversal is not confirmed for the moment

Hmmm it seems i have been too quick in reopening my hedge, i should have wait for more confirmation. I'm not sure now :-/

Btw, i wonder why i dont follow my own advice lol. I should have cover around 240.30-40 as i stated in aprevious post but noooo i had to wait of forget about it. Doing so would have made around 20 quick pip (i am never able to pick top and bottom except when it's not winning ^^ buy at top, sell at bottom )
  • #5,892
  • Jun 12, 2007 5:13am Jun 12, 2007 5:13am
Unbelievable, CPI was lower than expected, so inflation shouldnt be a threat in the near future, hence no rate hikes probable. However, GU and GY recovered all the losses and seem very strong. Damn, that news gave a wonderful dip for longs.
We leave no soldier behind.
  • #5,893
  • Jun 12, 2007 5:51am Jun 12, 2007 5:51am
Quoting gagiul
Unbelievable, CPI was lower than expected, so inflation shouldnt be a threat in the near future, hence no rate hikes probable. However, GU and GY recovered all the losses and seem very strong. Damn, that news gave a wonderful dip for longs.
Did you miss it?
Don't worry. If the uptrend is truly that strong it will last for a couple of days. The proof will be overcoming the 240.80, soon and with momentum.
t.
always expect the unexpected!
  • #5,894
  • Jun 12, 2007 8:58am Jun 12, 2007 8:58am
Quoting gagiul
Unbelievable, CPI was lower than expected, so inflation shouldnt be a threat in the near future, hence no rate hikes probable. However, GU and GY recovered all the losses and seem very strong. Damn, that news gave a wonderful dip for longs.
Yeah, i fuck miss that,,,,, actually, i long from 9706 and closed for 9 pip....as i saw Lower cpi rate...


But all major uk banking sharing are in red deep red today-----so gave a point here
  • #5,895
  • Jun 12, 2007 9:48am Jun 12, 2007 9:48am
not much activity around here...guess this thread reflects how the pair moved for the day...
  • #5,896
  • Jun 12, 2007 9:50am Jun 12, 2007 9:50am
Im still holding my Long from 239.98...im going to hang in there for a couple of days and hopefully wait to see some returns.
  • #5,897
  • Jun 12, 2007 9:57am Jun 12, 2007 9:57am
I think GBP/JPY, EUR/JPY, & USD/JPY still have some downside to them. On the USD/JPY 1 hr. chart, there is a nice head & shoulders pattern and it can't seem to stay above the 121.80 area. USD/JPY not following yields like we would expect. It looks like it's still fixed to the movement of the dow.
  • #5,898
  • Jun 12, 2007 10:14am Jun 12, 2007 10:14am
Quoting quantas33
I think GBP/JPY, EUR/JPY, & USD/JPY still have some downside to them. On the USD/JPY 1 hr. chart, there is a nice head & shoulders pattern and it can't seem to stay above the 121.80 area. USD/JPY not following yields like we would expect. It looks like it's still fixed to the movement of the dow.
I look at this uptrend from last night a retracement only, even this trip is going up to 241.00, actually 240.96 is 61.8% retracement. Then if comes back down again, a nice head & shoulders is formed. We just need to be patient, especially on Th and Fri US news.
  • #5,899
  • Jun 12, 2007 10:36am Jun 12, 2007 10:36am
I also feel that the market is preparing for a move to 241 over the next 1-2 days. I say 1-2 days as i use a 4H chart and so do not have any idea abt shorter timeframes...
  • #5,900
  • Jun 12, 2007 10:38am Jun 12, 2007 10:38am
Quoting quantas33
I think GBP/JPY, EUR/JPY, & USD/JPY still have some downside to them. On the USD/JPY 1 hr. chart, there is a nice head & shoulders pattern and it can't seem to stay above the 121.80 area. USD/JPY not following yields like we would expect. It looks like it's still fixed to the movement of the dow.
Where do you see this head-and sholder in the 1H UJ? I see a nice W formation on the UJ chart with potential to break to the upside. Within the 30M and 1H Chart GJ, UJ and GU are in a clear uptrend, according to my trendfilter set-up. So a break to the upside is more likely than to the downside, as the trend momentum has increased last night and even gained despite the news release this morning. On the daily UJ chart you see (until to date) a neck pattern from yesterday formed by a long bullish bar and a doji, which is a medium strong continuation sign (not to mix with the harimi pattern, which means reversal). The candle today is still a doji, but it is just 11:30. To early to tell.

But anyway. Market will deliver the proof.
Rgds
tiku
PS I trade accordingly: LONG.
always expect the unexpected!
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