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Daily GBP/JPY analysis

  • #5,901
  • Jun 12, 2007 10:54am Jun 12, 2007 10:54am
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
out at 240.44 not too bad will reevaluate for tonight did put a buy on eur/gbp looks pretty good though
  • #5,902
  • Jun 12, 2007 10:55am Jun 12, 2007 10:55am
what do u think will happen with eur/gbp?
  • #5,903
  • Jun 12, 2007 11:05am Jun 12, 2007 11:05am
Hmmmm I read this thread and I cant figure out what you guys are basing your trades. I personally dont see anything on GBPJPY myself to base an opinion on.
Attached Image
  • #5,904
  • Jun 12, 2007 11:07am Jun 12, 2007 11:07am
Quoting ForexTraderMan
what do u think will happen with eur/gbp?
Very nice downtrend.
always expect the unexpected!
  • #5,905
  • Jun 12, 2007 11:09am Jun 12, 2007 11:09am
I see GBPJPY emerging from a lower BB band during a very strong uptrend. Therefore long.

Quoting tiku
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.
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  • #5,906
  • Jun 12, 2007 11:10am Jun 12, 2007 11:10am
Quoting cgldsmth
I see GBPJPY emerging from a lower BB band during a very strong uptrend. Therefore long.
Just like that? bounce off Bolinger and thus long?

Jesus!
  • #5,907
  • Jun 12, 2007 11:10am Jun 12, 2007 11:10am
hmmm...lot many of us seem to be long....but still GBPJPY cant seem to move out of the 240.50 range...
  • #5,908
  • Jun 12, 2007 11:12am Jun 12, 2007 11:12am

anyone noticed the strange divergence between euro and pound? EUR USD is going down, still in retracement, while GBP USD is up. Same for GY and EY. The interesting thing is that GU and GY are on my charts under a downtrend line... and didnt reach it yet, so I really wonder which one is right...euro or pound?

We leave no soldier behind.
  • #5,909
  • Jun 12, 2007 11:14am Jun 12, 2007 11:14am
Quoting ForexTraderMan
what do u think will happen with eur/gbp?
I should be going up it looks like it is at the bottom or very close to it it may have one more down day but i doubt it
  • #5,910
  • Jun 12, 2007 11:16am Jun 12, 2007 11:16am
keeping it simple, it's just my way of re-entering a trend using Kharvell's BB idea. The fewer squiggly lines the better IMO.

BTW I'm not Jesus.

Quoting WTB
Just like that? bounce off Bolinger and thus long?

Jesus!
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  • #5,911
  • Jun 12, 2007 11:16am Jun 12, 2007 11:16am
Quoting WTB
Hmmmm I read this thread and I cant figure out what you guys are basing your trades. I personally dont see anything on GBPJPY myself to base an opinion on.
Yeah. You are right, 40 pips ahead is some resistance to expect for GBPJPY. But look at the daily. Isn't it preparing for a nice set-up once the down-trendline is broken?

So far I only trade the 30M, which is nicely trending as well.
Rgds
t.
always expect the unexpected!
  • #5,912
  • Jun 12, 2007 11:18am Jun 12, 2007 11:18am
keeping it simple, it's just my way of re-entering a trend using Kharvell's BB idea. The fewer squiggly lines the better IMO.

There's an even better example of one of Kharvell's trades on CHYJPY, with price closing outisde the outer BB having opened in the channel. Shame I decided not to short it, but I'm just looking at better trend entries at the moment.

BTW I'm not Jesus.[/quote]
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  • #5,913
  • Jun 12, 2007 11:28am Jun 12, 2007 11:28am
Quoting PipJunkie
I should be going up it looks like it is at the bottom or very close to it it may have one more down day but i doubt it
I can not see any reversal sign nor bottoming. As far as it goes it seems more appealing to consider further shorting for the next few days.
rgds
T.
always expect the unexpected!
  • #5,914
  • Jun 12, 2007 12:00pm Jun 12, 2007 12:00pm
Quoting gagiul

anyone noticed the strange divergence between euro and pound? EUR USD is going down, still in retracement, while GBP USD is up. Same for GY and EY. The interesting thing is that GU and GY are on my charts under a downtrend line... and didnt reach it yet, so I really wonder which one is right...euro or pound?


I definitely agree, and the other weird thing is that USD/CHF seems to be moving in tandem with GBP/USD. Usually they are opposites.
"The real genius is knowing when to stop." - Marc Faber
  • #5,915
  • Jun 12, 2007 12:50pm Jun 12, 2007 12:50pm
GBP/JPY at 240.84 ? Short now?
  • #5,916
  • Jun 12, 2007 12:57pm Jun 12, 2007 12:57pm
Creepy.... NYSE trading flat after placing -90 in the morning.... One of those crazy days, as it seems.... Potential is to the upside, should dow jones turns to green in the session...
  • #5,917
  • Jun 12, 2007 1:53pm Jun 12, 2007 1:53pm
Quoting syerram2
GBP/JPY at 240.84 ? Short now?
you do not want to do that yet.

currently guppy @ 240.63.
BAM BAM BOOM! -bravado
  • #5,918
  • Jun 12, 2007 4:28pm Jun 12, 2007 4:28pm
could we be going back to the 239 level or possible the 238 level again tonight? what do you think?
  • #5,919
  • Jun 12, 2007 7:06pm Jun 12, 2007 7:06pm
Quoting PipJunkie
I should be going up it looks like it is at the bottom or very close to it it may have one more down day but i doubt it
had to get out of eur/gbp saw it was going down just got in gbp/jpy at around 240.00 on a buy
  • #5,920
  • Jun 12, 2007 7:19pm Jun 12, 2007 7:19pm
My eyes are blurred on GJ. But UJ at 121.5X is a nice R:R for a long. Risk 121.20, reward 121.85 / 122
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