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Daily GBP/JPY analysis

  • #6,181
  • Jun 15, 2007 8:59am Jun 15, 2007 8:59am
Quoting Scrat
did i mention that it might be a sharp one?
Check out the situation @ April 3rd. This could turn ugly because the news came pro-bulls right before our shorting sweet spot, thus disturbing all the probability distributions..psych..etc. I shorted like a bad grizzly at 243.80, but good grizzlies should short after stable corrections, with good weather (news..etc) we could be in for 280 pips or so. I do not think the decline will be sharp.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #6,182
  • Jun 15, 2007 9:14am Jun 15, 2007 9:14am
Quoting Pipsqueak
Yup, with a capital T. If you think about, it is possible if trading with a larger account is the same as trading with a smaller account. All I have to do is maintain the same percentage returns and compounding periods. But I heard from the experts on this forum that it is not the same when trading with larger amount. So I guess my goal of 50 billions and richest man in the US will suffice.

Back to g/j, I'm shorting again at 243.90. With no stop loss. That's my secret. Using no stop loss and high leverage. Only close my position when it is in black. Going back to sleep now.

Hello

I red with attention this threat, and in particular your post because your are like me two months ago. I started making like you, and at first everything were right, and in two weeks I gained 1.500 euros (I´m in Portugal). But, how to know where are the piks high or the picks low? When we think that is a pick high, the currency begun another step and go....go.....go and go...and we never know where stops. I know that I lost the money that I gained, and so i´m trying to learn any more and asking for a system. I´m again in te demo account, to do experiences.
With all the respect, you are right, buy low and sell high, if you have bought, if no, it´s better to wait signals.
Sorry for my english or mistakes.

Good trades for everybody

Sorry this isn´t this post that I want to reply but the opinion was for you. But as i said is only an opinion
  • #6,183
  • Jun 15, 2007 9:18am Jun 15, 2007 9:18am
Quoting shadeslay
I must like the punishment, looking for another short.
This dragon has moved more than +130pips and you are still thinking of going short. I guess you are having more than necessary faith in your momentum oscillators(4H). Why not have a look at your 1D chart, so that you can zoom out a little. Or are you trying to be funny?
Eyes For Pips!
  • #6,184
  • Jun 15, 2007 9:28am Jun 15, 2007 9:28am
how long before the YEN is worth less than a Peso?
holy krap

TOyota and honda are taking over the world...Japan stock market is doing great per Msnbc
and their currency tanks

the charade continues
taking series 3 and 34
  • #6,185
  • Jun 15, 2007 9:29am Jun 15, 2007 9:29am
something has to give, even if it is a slowing of momentum lest we use this current trend as a ladder to the moon.

Looking at it on the hour charts zoomed out it looks like a brick wall.
quote of the day: . It's like deja-vu all over again
  • #6,186
  • Jun 15, 2007 9:38am Jun 15, 2007 9:38am
Quoting Pipsqueak
Yup, with a capital T. If you think about, it is possible if trading with a larger account is the same as trading with a smaller account. All I have to do is maintain the same percentage returns and compounding periods. But I heard from the experts on this forum that it is not the same when trading with larger amount. So I guess my goal of 50 billions and richest man in the US will suffice.

Back to g/j, I'm shorting again at 243.90. With no stop loss. That's my secret. Using no stop loss and high leverage. Only close my position when it is in black. Going back to sleep now.
yeah that could be really, really dangerous unless you have a gigantic account size.
"The real genius is knowing when to stop." - Marc Faber
  • #6,187
  • Jun 15, 2007 9:50am Jun 15, 2007 9:50am
Quoting hhitch
yeah that could be really, really dangerous unless you have a gigantic account size.
What do you mean? That's a great strategy...

.... until you get your first big move against you and all of a sudden you can't make any other trades because you don't have enough available margin... then the move continues against you for awhile longer and all of a sudden you're facing a margin call... then your positions get liquidated automatically so the trading company can protect themselves from the staggering losses you are accruing.

Thankfully I only devised this strategy while teaching myself on demo accounts and didn't allow it to transfer over to my live trading these days!
  • #6,188
  • Jun 15, 2007 9:58am Jun 15, 2007 9:58am
Quoting 4x_Trader
Long 241.14 gbpjpy
short 121.80 usdjpy
Pls allow me to update:

GBPJPY 244.30 (+316 pips)
USDJPY 123.60 (-180 pips)

M going to liquidate it last wk of this month! Viva carry trades! Go with the BIG BOYS and you will never be go wrong 245 will do for the coming session...
  • #6,189
  • Jun 15, 2007 10:03am Jun 15, 2007 10:03am
historically you'd be better off buying high and selling low.

Quoting Forexpupil
Hello

I red with attention this threat, and in particular your post because your are like me two months ago. I started making like you, and at first everything were right, and in two weeks I gained 1.500 euros (I´m in Portugal). But, how to know where are the piks high or the picks low? When we think that is a pick high, the currency begun another step and go....go.....go and go...and we never know where stops. I know that I lost the money that I gained, and so i´m trying to learn any more and asking for a system. I´m again in te demo account, to do experiences.
With all the respect, you are right, buy low and sell high, if you have bought, if no, it´s better to wait signals.
Sorry for my english or mistakes.

Good trades for everybody

Sorry this isn´t this post that I want to reply but the opinion was for you. But as i said is only an opinion
TRADE FOR SWAP
  • #6,190
  • Jun 15, 2007 10:11am Jun 15, 2007 10:11am
next historical level 249.6 (Aug 1992)
quote of the day: . It's like deja-vu all over again
  • #6,191
  • Jun 15, 2007 10:15am Jun 15, 2007 10:15am
Hi Every One!
Why has Cesarnc abandoned this forum for GBP/USD Update? His contributions are greatly missed.
Eyes For Pips!
  • #6,192
  • Jun 15, 2007 10:31am Jun 15, 2007 10:31am
last time it was this high was in 1992 so 15 years ago then it was fallowed by a big fall. were do we see this going?
  • #6,193
  • Edited 11:04am Jun 15, 2007 10:44am | Edited 11:04am
Quoting Ecogates
This dragon has moved more than +130pips and you are still thinking of going short. I guess you are having more than necessary faith in your momentum oscillators(4H). Why not have a look at your 1D chart, so that you can zoom out a little. Or are you trying to be funny?

Actually I just went short again, I don't use oscillators for news spikes or trends to unreliable. Like I said I don't normally lose a lot when I'm wrong and when I'm right more then makes up for the times I'm wrong.
  • #6,194
  • Jun 15, 2007 11:38am Jun 15, 2007 11:38am
Quoting shadeslay
About my sentiment as well, I'm going short but I think there might be one more small spike up towards 50 before it comes down. GBP always tries to get me stopped with those last little bursts. Not hoping for much just about 20-30pips, but if it comes down to TL around 70 thats fine too.
you were right, there was a spike, just it was 100 pips and it's not finished ^^

Yet, we are now at very very high level and yen is getting undervalued more and more, you can expect a US intervention sooner or later if there is no natural correction.
  • #6,195
  • Jun 15, 2007 12:42pm Jun 15, 2007 12:42pm
yeah I was punched by that last spike too. I guess Ill only make trades after it starts to curl over or with this pair just buy low and then buy low and buy low somemore cause it seems not to ever stop.
  • #6,196
  • Jun 15, 2007 1:03pm Jun 15, 2007 1:03pm
Quoting klinckphilip
yeah I was punched by that last spike too. I guess Ill only make trades after it starts to curl over or with this pair just buy low and then buy low and buy low somemore cause it seems not to ever stop.
Aye generally why I use such small stop losses, it doesn't sting as much.
  • #6,197
  • Jun 15, 2007 1:37pm Jun 15, 2007 1:37pm
Quoting Scrat
short @ 243.26.
and i'm not gonna trade longs from this high up; waiting to peak, then short.
i need to see 244.5 in order to believe in a continuation of this uptrend.
everybody start shorting, please. Its gonna fall from now. The stars have spoken, its gonna bge blood shed.
Damn, guys, cant believe it. This is a serious disease around this thread. I think I will take a break from it.
We leave no soldier behind.
  • #6,198
  • Jun 15, 2007 1:46pm Jun 15, 2007 1:46pm
Quoting Ecogates
Hi Every One!
Why has Cesarnc abandoned this forum for GBP/USD Update? His contributions are greatly missed.
i think because he is tired of seeing so many BLINDS around here. Especially the astrologists and the magicians and all the stuff. If i will read one more day this thread, I will get poisoned. And yes, Im angry for being so stupid and closing my EY longs at 164 and not listening to my inner voice, but getting contaminated by all this shorting disease. Luckily I kept my longs for GY from 240, added at 241 and 242.30. As simple as that. And I guess I made more profit today than all you shorting people. Next week, if its gonna fall, its gonna fall, so what? I will start shorting as well. But at least I made some money today when you LOST.
Now it seems you will luckily get a retracement to be happy with. For the newcomers, like me, my advice is to look at the chart and trade what you see, not what other people suggest you on this thread.
We leave no soldier behind.
  • #6,199
  • Jun 15, 2007 1:47pm Jun 15, 2007 1:47pm
Quoting shadeslay
Aye generally why I use such small stop losses, it doesn't sting as much.
yeah but you cant let i ride as well either hope this down is more than a small pull back before it stops
  • #6,200
  • Jun 15, 2007 1:52pm Jun 15, 2007 1:52pm
Quoting klinckphilip
yeah but you cant let i ride as well either hope this down is more than a small pull back before it stops
Aye generally I try to trade it both ways, long off the bottom channel and short off the top. Just timed the last one wrong with the upcoming news and was caught on the other side. It happens no system or person is perfect.
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