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Daily GBP/JPY analysis

  • #6,361
  • Jun 20, 2007 2:21am Jun 20, 2007 2:21am
Quoting musicman007
Interesting position at the moment. On the hourly charts the CCi has dropped below 0 and the RSI's are about to (poss) cross 50 level heading south. If we look at the recent moves we have lower highs and lower lows - although the psychological 245 level has just about held.

To the upside the 245.37 fib has held a s a resisitance over the last day or so - with spike above but not holding. I reckon if BOE is 7-2 or above we go long, if not we down.

As for me - out until after the news !

Looks like it did go south ! NOw will we bounce off the -100 cci or are we going down? This could also be a clearout prior to the news so I am sitting out for now.
  • #6,362
  • Jun 20, 2007 2:34am Jun 20, 2007 2:34am
I still see the last two days as just an overture for today`s Minutes; on the sidetrack this ranging buildup confuses certain indicators that things are going down when in fact are tunneling prior to big news release.
  • #6,363
  • Jun 20, 2007 2:35am Jun 20, 2007 2:35am
Shake and bake!

Yeah smells like it does not have to much behind it for now.
  • #6,364
  • Jun 20, 2007 2:39am Jun 20, 2007 2:39am
Quoting keramikus
I still see the last two days as just an overture for today`s Minutes; on the sidetrack this ranging buildup confuses certain indicators that things are going down when in fact are tunneling prior to big news release.

To use my analogy from last weeks news release...

It's holding it's breath.
Me personally, I wouldn't trust indicators any more then a starving cougar in the passengers seat of my car.
  • #6,365
  • Jun 20, 2007 2:41am Jun 20, 2007 2:41am
patiently building longs from 238 onwards (every 100) and convinced the MPC minutes were going to push this thing a little further north, that last spike managed to perfectly cream my obviously misplaced stops to the exact goddam pip.

Damn.
quote of the day: . It's like deja-vu all over again
  • #6,366
  • Jun 20, 2007 2:44am Jun 20, 2007 2:44am
Quoting Gmak
patiently building longs from 238 onwards (every 100) and convinced the MPC minutes were going to push this thing a little further north, that last spike managed to perfectly cream my obviously misplaced stops.

Damn.
Bugger
  • #6,367
  • Jun 20, 2007 2:50am Jun 20, 2007 2:50am
My newbie beginner gut tells me we are due for another spike in the next 40 minutes.
  • #6,368
  • Jun 20, 2007 2:53am Jun 20, 2007 2:53am
Quoting keramikus
My newbie beginner gut tells me we are due for another spike in the next 40 minutes.
You must be psychic, Now give up on FX and pick the lotto numbers for the rest of you life

Hehe
  • #6,369
  • Jun 20, 2007 2:54am Jun 20, 2007 2:54am
All good things come to an end I suppose.


Still, without confirmation from the minutes that stop may yet prove valid.

still suspect 247 is in the offing though
quote of the day: . It's like deja-vu all over again
  • #6,370
  • Jun 20, 2007 2:56am Jun 20, 2007 2:56am
Quoting keramikus
My newbie beginner gut tells me we are due for another spike in the next 40 minutes.

lets hope it spikes to 237 and lasts a week.
quote of the day: . It's like deja-vu all over again
  • #6,371
  • Jun 20, 2007 2:59am Jun 20, 2007 2:59am
Quoting Sniper
You must be psychic, Now give up on FX and pick the lotto numbers for the rest of you life

Hehe
Im glad u are amused, but I dont buy Lotto unless I rig the results. First spike usually cleanes primary stops and triggers pending orders, second one (being up or down), clears newly put pending orders - and the brokers get the goods.
  • #6,372
  • Jun 20, 2007 3:01am Jun 20, 2007 3:01am
Quoting keramikus
Im glad u are amused, but I dont buy Lotto unless I rig the results. First spike usually cleanes primary stops and triggers pending orders, second one (being up or down), clears newly put pending orders - and the brokers get the goods.
Just j/k mate
I don't play lotto either unless I rig it.
  • #6,373
  • Jun 20, 2007 3:06am Jun 20, 2007 3:06am
Quoting keramikus
Im glad u are amused, but I dont buy Lotto unless I rig the results. First spike usually cleanes primary stops and triggers pending orders, second one (being up or down), clears newly put pending orders - and the brokers get the goods.

I see your point.

Having said that I would argue that the majority of pending orders lurking at the .60 area would have been shorts and the triggering of such orders would have created a cascade.
quote of the day: . It's like deja-vu all over again
  • #6,374
  • Jun 20, 2007 3:08am Jun 20, 2007 3:08am
Considering the good luck of the beginers... maybe we should take keramikus advice je je je, the question is... where is going to happen the next spike?

Ado Whether you believe you can do a thing or not, you are right.
  • #6,375
  • Jun 20, 2007 3:17am Jun 20, 2007 3:17am
I predict 9.31 will be a good time for this spike to begin
quote of the day: . It's like deja-vu all over again
  • #6,376
  • Jun 20, 2007 3:18am Jun 20, 2007 3:18am
Well I depends on what the minutes say. I am still banking on it going up some more. It will always spike a whipsaw around. Hence the reason most traders stay out until the stop hunting has passed and the "market" takes over. They going to have to try really hard to get my stops on this one.

How ever any retrace here I believe will make itself back up in short order. I will still go long here. If not tonight then when next the chance arrives. My theme for this week is buying dips for EJ and GJ
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  • #6,377
  • Jun 20, 2007 3:25am Jun 20, 2007 3:25am
Am on the short side of this one, at least for 100. Heres hoping. But My analysis says its way overdue for a minor retrace and minors in g/j tend to be 200-300 pips
  • #6,378
  • Jun 20, 2007 3:32am Jun 20, 2007 3:32am
5/4 what is this vote ???

Quoting Takisd
Am on the short side of this one, at least for 100. Heres hoping. But My analysis says its way overdue for a minor retrace and minors in g/j tend to be 200-300 pips
Sucks to be you ^^
  • #6,379
  • Jun 20, 2007 3:33am Jun 20, 2007 3:33am
Quoting melpheos
5/4 what is this vote ???
5/4 to hold?
Patience + Humility + Study = Success
  • #6,380
  • Jun 20, 2007 3:35am Jun 20, 2007 3:35am
misery is me
quote of the day: . It's like deja-vu all over again
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