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Daily GBP/JPY analysis

  • #6,721
  • Jun 25, 2007 2:11pm Jun 25, 2007 2:11pm
down is hard for eur jpy

if eur jpy - usd jpy move to down, gbp jpy move down

DOWN NOW IS MY HEART
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  • #6,722
  • Jun 25, 2007 2:13pm Jun 25, 2007 2:13pm
a double bottom might occur in the pair.. watch it out.
  • #6,723
  • Jun 25, 2007 2:14pm Jun 25, 2007 2:14pm
Quote
Hahhaha sorry mate I cant give it out. But I will give you a clue. Make a V with you fingers and slot your nose into the gap between them. Might hurt somewhat but it's the only indicator I use.

really thats all I use - sniper

:

oh well, thanks anyway.....lol! regarding the nose indicator thing...can you post a pic of how you do it..im not sure im getting it right
"it doesn't come any sharper than this!"
  • #6,724
  • Jun 25, 2007 2:14pm Jun 25, 2007 2:14pm
Quoting DailyFX
19:01 FOREX: Carry Trade Liquidation Whacks Emerging Mkts, Oz & Kiwi New York, June 25. The front BM&F USD/BRL contract soared this afternoon as risk aversion spiked amidst stories across the newswires that Bear Stearns will have to put additional money in to rescue the second "sub prime" hedge fund, and rumours abounding that there is another US hedge fund that is suffering large losses from the same sphere. The contract soared to 1.9555 from 1.9335, spot USD/MXN jumped from 10.8225 to 10.8500, NZD/USD plunged to 0.7637, the low of the day; and AUD/USD to 0.8465, also the low of the day.
The CHF and JPY crosses are powering the move lower, particularly the latter, as there has been a recent increase in flows into BRIC by Japanese trusts, as well as a rising interest in BRL/JPY and MXN/JPY out of the Tokyo centre. The commodity complex is holding in, oil is unchanged around $69.18, and gold is still below Friday"s close at $654.70. Traders are looking for more fall-out overseas, as the markets get tested for the second day in a row. [email protected]
Still only rumors but man cant wait for the name to come out in the open. Might make staying awake some more worth it.
  • #6,725
  • Jun 25, 2007 2:16pm Jun 25, 2007 2:16pm
Quoting DR.ich
oh well, thanks anyway.....lol! regarding the nose indicator thing...can you post a pic of how you do it..im not sure im getting it right
Hahaha yeah was being a smart ass sorry mate. I don't use indicators. As far a pattern recognition goes my eye's are the only thing I use. Hope this helps. Give it awhile you'll learn to see it too.
  • #6,726
  • Jun 25, 2007 2:19pm Jun 25, 2007 2:19pm
Quoting Alfa159
a double bottom might occur in the pair.. watch it out.
I got a buy order there, drewing revenge and hate, to stab the first damn tick at 246.45....

I say bring this f'n dragon!

It can walk to me, but it will limp back......
  • #6,727
  • Jun 25, 2007 2:24pm Jun 25, 2007 2:24pm
Quoting cesarnc
I got a buy order there, drewing revenge and hate, to stab the first damn tick at 246.45....

I say bring this f'n dragon!

It can walk to me, but it will limp back......

Yee ar bot a wee beastie in comparison. I will help with this "revenge" And send my army of flying monkies te aid you.

Regardless though I am still long on this Dragon. Will more then likely reset in a bit.
  • #6,728
  • Jun 25, 2007 2:25pm Jun 25, 2007 2:25pm
Quoting bravado
i'm currently well above 60+ pips.

I'm at -6 and delighted for it.
quote of the day: . It's like deja-vu all over again
  • #6,729
  • Jun 25, 2007 2:25pm Jun 25, 2007 2:25pm
How accurate is this trend line??? any ideas?? i sometimes lack at drawing them...
Attached Image (click to enlarge)
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  • #6,730
  • Jun 25, 2007 2:25pm Jun 25, 2007 2:25pm
And DJIA is up again. down. up argh! it's climbed though.
  • #6,731
  • Jun 25, 2007 2:29pm Jun 25, 2007 2:29pm
Alfa, there is a book called sticky stock charts buy it. BTW u need minimum of 2-3 hits per line the more the better to show a true over bought over sold resistance support lines
"Millionaires don't use astrology, billionaires do"
  • #6,732
  • Jun 25, 2007 2:29pm Jun 25, 2007 2:29pm
Quoting Alfa159
How accurate is this trend line??? any ideas?? i sometimes lack at drawing them...

I believe that the lines one draws on ones charts are all in the eye of the beholder. You must trust your own conclusions and decisions. So if those lines work for you. Stick with it. If you are not sure. Keep them around and see if they work anyway just don't use them to enter/exit until you trust your self.
  • #6,733
  • Jun 25, 2007 2:30pm Jun 25, 2007 2:30pm
Quoting OrionsWay
Alfa, there is a book called sticky stock charts buy it. BTW u need minimum of 2-3 hits per line the more the better to show a true over bought over sold resistance support lines
I will definitely get a hold of that book thanks for the recommendation...
  • #6,734
  • Jun 25, 2007 2:31pm Jun 25, 2007 2:31pm
Quoting Sniper
I believe that the lines one draws on ones charts are all in the eye of the beholder. You must trust your own conclusions and decisions. So if those lines work for you. Stick with it. If you are not sure. Keep them around and see if they work anyway just don't use them to enter/exit until you trust your self.
So far had a 50% success in the trend lines... Still improving... as i said before I am new at this business...Learning everyday
  • #6,735
  • Jun 25, 2007 2:31pm Jun 25, 2007 2:31pm
Quoting cesarnc
I have a bag of cursing words here with me, with YOUR NAME on it. Should I FEDEX it to you?

here.

http://www.forexfactory.com/showpost...postcount=6616

Quoting bravado
take rest of the gj long position for profit @ 247.25.
Quoting bravado
allocated both gj and uj long (with good profits) to elsewhere.

where it is much more profitable and easier to trade.
and thus far paying off nicely.
Quoting bravado
in fact. gj and uj are again dropping.

a pro.
BAM BAM BOOM! -bravado
  • #6,736
  • Jun 25, 2007 2:34pm Jun 25, 2007 2:34pm
Quoting bravado
here.

http://www.forexfactory.com/showpost...postcount=6616
Have a container now... Please advise nearest sea port. Refer to the shipping company at [email protected]

Thanks.
  • #6,737
  • Jun 25, 2007 2:36pm Jun 25, 2007 2:36pm
  • #6,738
  • Jun 25, 2007 2:37pm Jun 25, 2007 2:37pm
Making some resistance on 247... Round figure as usual... Bounced on 248 or and last resistance was 246 ^^
  • #6,739
  • Jun 25, 2007 2:40pm Jun 25, 2007 2:40pm
volumes drying up on the decline, unless they pick up this bounces to top again me thinks

closed the short, flat atm with entry long 45.90
"Millionaires don't use astrology, billionaires do"
  • #6,740
  • Jun 25, 2007 2:42pm Jun 25, 2007 2:42pm
Quoting DFX
19:02 DOW TECHS: Significant Double Top in the Works New York, June 25. We don't normally write about technical developments outside of FX, but feel latest price action in the DOW worth paying attention to, as profit taking in the equity markets translates into a reduction in global risk appetite, which more often than not translates into an unwinding of the carry trade.
The DOW has been making record highs over the past several months in unrelenting fashion but now seems to have found a cap by 13700. After reaching 13692 on 01 Jun, fell sharply, breaking a steep rising trend-line by 13560 to force an acceleration of additional setbacks to 13252 on 08 Jun from where a short-term base was found. However latest rally off of the latter has once again stalled out ahead of 13700 falling just shy of previous highs by 13692 reaching 13689 on 15 Jun ahead of current pullback to 13307 thus far today. The result, has been the formation of a potential double top now with a trigger by neckline support at 13252. As such look for an initial drop now to latter with a large bout of profit taking expected on the break to trigger a double top projecting downside extension to 12800.
Should the above pattern play out, we strongly advise traders to look to pare long carry positions (USD/JPY, JPY Crosses, EUR/CHF, NZD, AUD, EMs) at a minimum, while even considering the possibility of building into negative carry, as any pullbacks are sure to be strong and swift. [email protected]
Duh!
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