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Daily GBP/JPY analysis

  • #6,521
  • Jun 22, 2007 11:42am Jun 22, 2007 11:42am
Quoting cesarnc
And today, -140 so far... See what I mean?

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  • #6,522
  • Jun 22, 2007 11:44am Jun 22, 2007 11:44am
Quoting DutchTrader
cesar,

What are your thoughts on the Major Indices in the US?
Check here:

http://www.forexfactory.com/showpost...postcount=6475
  • #6,523
  • Jun 22, 2007 11:59am Jun 22, 2007 11:59am
Quoting cesarnc
Check here:

http://www.forexfactory.com/showpost...postcount=6475
I agree with your analysis however the global liquidity level is so high that it's almost as though the concept of risk adversity has been thrown out of the window. We have several currencies making multi decade highs, and all at the same time. I still look for a correction but I have to say that I'm not against trading the trend either lol.
Patience + Humility + Study = Success
  • #6,524
  • Jun 22, 2007 12:10pm Jun 22, 2007 12:10pm
Quoting bravado
there they are. don't be alarmed though. probably a opportunity to reload.

seems to be quite a regular late friday occurence.
quote of the day: . It's like deja-vu all over again
  • #6,525
  • Jun 22, 2007 12:18pm Jun 22, 2007 12:18pm
Quoting DutchTrader
I agree with your analysis however the global liquidity level is so high that it's almost as though the concept of risk adversity has been thrown out of the window. We have several currencies making multi decade highs, and all at the same time. I still look for a correction but I have to say that I'm not against trading the trend either lol.
Me neither... I'm not calling doomsday here, ok? Question is, with that picture in the stock market I'm trading GU and UJ longs alternately, instead of putting the eggs in GJ directly. I profit their swings
  • #6,526
  • Jun 22, 2007 12:26pm Jun 22, 2007 12:26pm
this train does not look like stopping...does it...
  • #6,527
  • Jun 22, 2007 12:28pm Jun 22, 2007 12:28pm
Quoting cesarnc
Me neither... I'm not calling doomsday here, ok? Question is, with that picture in the stock market I'm trading GU and UJ longs alternately, instead of putting the eggs in GJ directly. I profit their swings
Makes perfect sense.
Patience + Humility + Study = Success
  • #6,528
  • Jun 22, 2007 12:33pm Jun 22, 2007 12:33pm
again I reckon 249 might become a sticking point.
quote of the day: . It's like deja-vu all over again
  • #6,529
  • Jun 23, 2007 3:36am Jun 23, 2007 3:36am
Quoting cesarnc

I don't have any charts that show dow jones in candlesticks (anyone??)
I use North Finance demo account to monitor DJ, S&P & NASDAQ in MT4.
  • #6,530
  • Jun 23, 2007 3:43am Jun 23, 2007 3:43am
I jumped of this train early at 246 last thursday. I banked a nice 650 pips and interest. I still think we could see 249 before a decent correction, but after a few slow months I chose to take the pay check
Balance up nicely and send some money home for next few months expenses.'
I betting on a retracement next week, after this bull run we could see some profit taking towards the end of Q2. And then there's the annual central banks meeting in Basel this weekedn with yen weakness as a probable topic..
Could make an interesting opening.
  • #6,531
  • Jun 23, 2007 12:29pm Jun 23, 2007 12:29pm
http://forexfactory.com/showthread.php?t=35372
  • #6,532
  • Jun 23, 2007 2:59pm Jun 23, 2007 2:59pm
Can anyone siggest a weekend news source to see if China has hiked there rates before tomorrow's open?

Google news not returning anything.
  • #6,533
  • Jun 24, 2007 5:06am Jun 24, 2007 5:06am
Baasharm

just a Technical point here ( as it can be very misleading esp for newbies) the pair DID NOT rise 650 pips from thursday. you may have made $650 or £650 but that will be dependant on your LOT size.

246.05 up to 246.06 is 1PIP
  • #6,534
  • Jun 24, 2007 5:19am Jun 24, 2007 5:19am
BaasHarm said that he closed his long position on Thursday at 246. There wasn't mention of an entry, so there is every chance he jumped on at 239.50 or thereabouts and just held it until now.

That'd be 650pips.
  • #6,535
  • Jun 24, 2007 5:31am Jun 24, 2007 5:31am
Nathbear

Actually i think we both may have misread it, Baasharm said he "jumped of " that could be on or off............could it not ??

I hate Sundays...............need to trade
  • #6,536
  • Jun 24, 2007 5:40am Jun 24, 2007 5:40am
Haha, I definitely know what you mean.
  • #6,537
  • Jun 24, 2007 6:04am Jun 24, 2007 6:04am
if you use dealbook 360 trading platform, then like me you would have seen a spike of, from memory 1000-2000 pip drop in under 20 minutes.. yep! you read it right!
i have since "refreshed" my charts and it's cleaned up the daily and 4 hour, but the 1 hour and below still show it.... quite annoying.... puts the charts all out, you have to REALLY zoom in to get a clear view of whats going on...
  • #6,538
  • Jun 24, 2007 6:16am Jun 24, 2007 6:16am
Quoting ryanmel
if you use dealbook 360 trading platform, then like me you would have seen a spike of, from memory 1000-2000 pip drop in under 20 minutes.. yep! you read it right!
i have since "refreshed" my charts and it's cleaned up the daily and 4 hour, but the 1 hour and below still show it.... quite annoying.... puts the charts all out, you have to REALLY zoom in to get a clear view of whats going on...
is there any way you can enter the history files and edit this particular bar?
quote of the day: . It's like deja-vu all over again
  • #6,539
  • Jun 24, 2007 10:14am Jun 24, 2007 10:14am
Quoting dragon77
Nathbear

Actually i think we both may have misread it, Baasharm said he "jumped of " that could be on or off............could it not ??

I hate Sundays...............need to trade
Nathbear is right, I held these positions for about 2 weeks with an average entry price around 239.50. So the 650 pips are correct.
  • #6,540
  • Jun 24, 2007 11:43am Jun 24, 2007 11:43am
Baasharm

Appologies for that , i misinterpreted what you said, although a few posters do confuse things buy using the word "pips" when they mean financial profit.

So 650 pips ! nice trade i hope you had a good lot size.

i missed the ride up, even though it was staring me in the face each day, i thought the moment i go long its bound to drop so i just waited and waited and am still waiting.

The big problem I can see now is , it is due for some kind of correction but does one wait for an opportunity to " buy a dip" or do we trade it short

Any comments from others ??
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