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Daily GBP/JPY analysis

  • #5,961
  • Jun 13, 2007 8:58am Jun 13, 2007 8:58am
absolutely mel....right now, the money in my account does not allow me to take the signals in all the pairs...anyway, i hope to get there someday soon..
  • #5,962
  • Jun 13, 2007 9:02am Jun 13, 2007 9:02am
....if I knew what to do right now...I wouldn't be posting on the blog...but anyway..if its really that important that I tell what I think...here it goes...I think the GBP/JPY is going to drop more today after a recent boost. The dollar is still very strong after the recent retail sales numbers...Plus the currency report is to be released soon...overall good outlook for the dollar...another point to note is that GBP retail sales are expected to come out tomorrow...im hoping the GBP will weaken before the actual numbers are out..just a couple of thoughts...gut feeling...GBP/JPY will weaken through out the day
  • #5,963
  • Jun 13, 2007 9:05am Jun 13, 2007 9:05am
Quoting syerram2
...I think the GBP/JPY is going to drop..
correct.
BAM BAM BOOM! -bravado
  • #5,964
  • Jun 13, 2007 9:26am Jun 13, 2007 9:26am
damn I have to stick this out..the GBP/JPY is shooting up again
  • #5,965
  • Jun 13, 2007 9:35am Jun 13, 2007 9:35am
Quoting syerram2
damn I have to stick this out..the GBP/JPY is shooting up again
you'll be ok.
BAM BAM BOOM! -bravado
  • #5,966
  • Jun 13, 2007 9:40am Jun 13, 2007 9:40am
Quoting syerram2
damn I have to stick this out..the GBP/JPY is shooting up again
set your sl above 241.60.
BAM BAM BOOM! -bravado
  • #5,967
  • Jun 13, 2007 9:44am Jun 13, 2007 9:44am
alright thanks for the help...im hoping i dont get burnt on this trade
  • #5,968
  • Jun 13, 2007 9:49am Jun 13, 2007 9:49am
Quoting bravado
set your sl above 241.60.
241.6 is just out of H4 cloud so thats a good target to exit a loosing trade. If price goes above this, we will be in blue sky with absolutely no limit ahead
  • #5,969
  • Jun 13, 2007 10:11am Jun 13, 2007 10:11am
Quoting melpheos
241.6 is just out of H4 cloud so thats a good target to exit a loosing trade. If price goes above this, we will be in blue sky with absolutely no limit ahead
Looking at fibs I see that 241.42 is the previous intraday high and that a high/low swing has 241.62 as the extension at 127.2 fib.
  • #5,970
  • Jun 13, 2007 10:27am Jun 13, 2007 10:27am
I dont pipe up much but does it look like the GY may jump. 4H charts are showing a setup for a shot at the 241.6 - 241.7 resistance. If it clears that then sky's the limit
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  • #5,971
  • Jun 13, 2007 10:39am Jun 13, 2007 10:39am
oh man..if that happens...I might be completely done for the day...I shorted at 241.30 with SL at 241.7
  • #5,972
  • Jun 13, 2007 10:44am Jun 13, 2007 10:44am
Quoting syerram2
oh man..if that happens...I might be completely done for the day...I shorted at 241.30 with SL at 241.7
Entered H4 Ichimoku cloud, you will know soon...

At first i though ichimoku was mumbo jumbo but if you use only the cloud, it gives a very clear view of the market resistance zone.
  • #5,973
  • Jun 13, 2007 10:50am Jun 13, 2007 10:50am
I stand to be corrected but a break out of the range the GY is currently trading in will (421.80ish and up) be a 10 year high? If so then hello blue sky's.

But I am sure there are other take on the current situation. Anyone got link for Ichimoku cloud info. I want to learn more am struggling to find anything good
  • #5,974
  • Jun 13, 2007 11:03am Jun 13, 2007 11:03am
Me thinks 237-236.50 is next stop

http://img504.imageshack.us/img504/2...pjpy236mn0.gif
  • #5,975
  • Jun 13, 2007 11:04am Jun 13, 2007 11:04am
Quoting syerram2
oh man..if that happens...I might be completely done for the day...I shorted at 241.30 with SL at 241.7
just shorted gj @ 241.37, sl=241.70. like you.
BAM BAM BOOM! -bravado
  • #5,976
  • Jun 13, 2007 11:10am Jun 13, 2007 11:10am
well tis showing OB and there is a divergence wouldn't be the 1st time I bet on the loosing side. That being said though I am keeping a vary trigger happy mouse button on my close position button should it go south.

Closed 2 of my 3 lots taken at 239.25 close at 234. and 234.7 I want to ride this a little longer.
  • #5,977
  • Jun 13, 2007 11:10am Jun 13, 2007 11:10am
Uppy me Thinky
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  • #5,978
  • Jun 13, 2007 11:16am Jun 13, 2007 11:16am
Quoting dragon77
Uppy me Thinky
Well glad I may not be the only one on this side of the fence. Regard less of what happens though the next move is going to be very very nice imo
  • #5,979
  • Jun 13, 2007 11:17am Jun 13, 2007 11:17am
that's right.
Quoting Basilides
Me thinks 237-236.50 is next stop
Nihil Sine Deo.
  • #5,980
  • Jun 13, 2007 11:17am Jun 13, 2007 11:17am
looks like up for me too...but will face some resistance and hence some retracement...so the shorts at 240.30 could get off with a bit of profit i suppose...
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