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Daily GBP/JPY analysis

  • #6,301
  • Jun 18, 2007 6:55pm Jun 18, 2007 6:55pm
Quoting trader8686
You must refer YEN as USD/YEN, and Cable as GBP/USD, did I get it right?
yes. That USD/YEN and GBP/USD ...
  • #6,302
  • Jun 18, 2007 7:04pm Jun 18, 2007 7:04pm
i will never ever short this pair again, unless BOJ rate their interest. i don't care anymore with short signal in this pair.

if i miss some big short, so what. i'm not going to regret it, coz we still able to buy from dips and get swap from it.
  • #6,303
  • Jun 18, 2007 7:13pm Jun 18, 2007 7:13pm
GU has broken major resistance and is going up especially with rate hike expected next mnth...UJ not sure...signs are there that it will go up...will have to wait and see..
  • #6,304
  • Jun 18, 2007 7:14pm Jun 18, 2007 7:14pm
Quoting chaoz
i will never ever short this pair again, unless BOJ rate their interest. i don't care anymore with short signal in this pair.

if i miss some big short, so what. i'm not going to regret it, coz we still able to buy from dips and get swap from it.

exactly, that what I have in mind. BUY on DIPS, reload and start firing and earn swap fee along the way...
  • #6,305
  • Jun 18, 2007 7:18pm Jun 18, 2007 7:18pm
Quoting zamans98
yes. That USD/YEN and GBP/USD ...
Can I ask you a question, again?
For drawing the retracement on GBP/JPY, what time frame is the most accurate?
  • #6,306
  • Jun 18, 2007 7:21pm Jun 18, 2007 7:21pm
Quoting trader8686
Can I ask you a question, again?
For drawing the retracement on GBP/JPY, what time frame is the most accurate?
I'm not an expert in FIBO, but based on many research sites, 4H seems to be most optimum, but then again - depends on what pair.

Need more comments, please.
  • #6,307
  • Jun 18, 2007 7:24pm Jun 18, 2007 7:24pm
Quoting ns_karthik
GU has broken major resistance and is going up especially with rate hike expected next mnth...UJ not sure...signs are there that it will go up...will have to wait and see..
I have visited your website everyday.
Can I ask you a question:
For drawing the retracement on GBP/JPY, what time frame is the most accurate?
  • #6,308
  • Jun 18, 2007 7:29pm Jun 18, 2007 7:29pm
Need a second openion, again.
I observed this since whole year last, when theis pair is ranging (like now), it most likely is going up after that. Am I almost right?
  • #6,309
  • Jun 18, 2007 8:04pm Jun 18, 2007 8:04pm
Quoting trader8686
I have visited your website everyday.
Can I ask you a question:
For drawing the retracement on GBP/JPY, what time frame is the most accurate?
thanks for visiting my site....it depends on how u draw ur retracement...if u draw it based on fibs, the timeframe does not matter...all that matters is the last wave...
  • #6,310
  • Jun 18, 2007 8:26pm Jun 18, 2007 8:26pm
Quoting ns_karthik
thanks for visiting my site....it depends on how u draw ur retracement...if u draw it based on fibs, the timeframe does not matter...all that matters is the last wave...
Ok, I am drawing based on fibs, so for this long uptrend we should pick the bottom at 237.66 or else?
  • #6,311
  • Jun 19, 2007 1:24am Jun 19, 2007 1:24am
Quoting trader8686
Can I ask you a question, again?
For drawing the retracement on GBP/JPY, what time frame is the most accurate?
I use fibs extensivley and you can draw then over whatever period you want really, just dont use one too short - say below 15 min.

If you want to learn more I use Mark Braun at http://www.mjbraun.net/ he is a real guru and provides many updates on video.

Enjoy !
  • #6,312
  • Jun 19, 2007 1:50am Jun 19, 2007 1:50am
not doing much for a few hours... maybe a small retracement before another 100 pips ?
  • #6,313
  • Jun 19, 2007 2:20am Jun 19, 2007 2:20am
Quoting melpheos
not doing much for a few hours... maybe a small retracement before another 100 pips ?
nothing interesting today, but tomorrow is BOE sitting. We might see some interesting movement in Cable.
  • #6,314
  • Jun 19, 2007 3:10am Jun 19, 2007 3:10am
Hello !
At the moment there seems to be no stop of the GBP-JPY upward trend.
Where is the turning point?
Found an article on Calendar Yen Trading Patterns :
http://www.actionforex.com/articles_..._200605177339/
According to that article "...GBP/JPY shows very strong directional tendencies in August and December with an average drop of over 600 pips in August and an average gain of 435 pips to end the year."

Well, I am not too much convinced about seasonal behavior in forex.
Trading would be too easy.
  • #6,315
  • Jun 19, 2007 5:19am Jun 19, 2007 5:19am
UJ setting up a juicy bottom to fish... But I'm looking for S2 (123.28) to start loading the truck.

Our of GJ so far. Might resume GJs with tomorrow's BOE Minutes.
  • #6,316
  • Jun 19, 2007 5:32am Jun 19, 2007 5:32am
Uj and Ej push GJ down, while GU taking it up. so i think today Gj won't go anywhere
  • #6,317
  • Jun 19, 2007 5:59am Jun 19, 2007 5:59am
if it closes above 245.50, I am aiming for the pair to go to the 247.00 level ... though i cant see that happening until the Asian market will be open. And though I still believe in the uptrend, i dont believe the momentum will be as high as the last week.
Attached Image (click to enlarge)
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  • #6,318
  • Jun 19, 2007 6:35am Jun 19, 2007 6:35am
ok heres my take on the yen crosses. been long on the pair e/yen since the 163.75. got stopped out at 165.75,profited 200 pips on that one. on my indicator its looking to be over bought. so tonight will look for a reversal pattern on my daily chart. might reverse a little then it should shoot back up. as to what price i couldnt tell you. so tonight i might short the e/yen again to gain some more pips. hope this helps. again this is just speculation.

thanks
  • #6,319
  • Jun 19, 2007 6:40am Jun 19, 2007 6:40am
Quoting treadline
ok heres my take on the yen crosses. been long on the pair e/yen since the 163.75. got stopped out at 165.75,profited 200 pips on that one. on my indicator its looking to be over sold. so tonight will look for a reversal pattern on my daily chart. might reverse a little then it should shoot back up. as to what price i couldnt tell you. so tonight i might short the e/yen again to gain some more pips. hope this helps. again this is just speculation.

thanks

you said your indicator is over sold... Or did you mean over bought? I have been using few indicators that do say over bought ( though I believe a breach of 245.50 excludes the idea of over bought )

And you talked about EURJPY... true.. it seems to be going down until 164.50
  • #6,320
  • Jun 19, 2007 6:52am Jun 19, 2007 6:52am
Quoting Alfa159
you said your indicator is over sold... Or did you mean over bought? I have been using few indicators that do say over bought ( though I believe a breach of 245.50 excludes the idea of over bought )

And you talked about EURJPY... true.. it seems to be going down until 164.50

yes meant over bought. corrected it but people have read it already before i corrected it. true that even though it says over bought or sold, it doesnt mean that it cant go higher or lower. but been trusting on my indicator for a long time now it doesnt fail as often as im profitable.
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