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Daily GBP/JPY analysis

  • #8,381
  • Jul 16, 2007 9:14am Jul 16, 2007 9:14am
my god I need down ... selll it sell ... my sell positions are in 247.70 I can see loossss.... WHY not fall in and drop down today ????
byebye costly moments.
  • #8,382
  • Jul 16, 2007 9:19am Jul 16, 2007 9:19am
i think mondays are dangerous for trading
  • #8,383
  • Jul 16, 2007 9:20am Jul 16, 2007 9:20am
Quoting 1000USD
my god I need down ... selll it sell ... my sell positions are in 247.70 I can see loossss.... WHY not fall in and drop down today ????
Little quiet here because of the JPY Holiday, it should get moving a little bit towards the Asia Open today.

For now, were just bouncing around in a nice tight range with no direction given yet, or possibly we have seen the retrace down to 38.2% - 247.58, and were on our way back up once again to test the high.

HIGH 248.47
LOW 247.58
MEDAIN 248.02 (Friday's Closing Price)

Until be break above the 248.92 high area, or below the 247.58 low area, we might just keep an eye on the other Two Pairs that are driving the ship here:

The GBP/USD which has no resistance on top and the USD/JPY.
  • #8,384
  • Jul 16, 2007 9:30am Jul 16, 2007 9:30am
My indicators so far aren't showing this pair wanting to go either way right now. It seems to want to stay in a range. I went ahead and took a small long position, but it wasn't based on any technicals.

This pair appears to be consolidating, so when it breaks out (for real), it will likely move a few pips (no idea how many).

This is probably why everyone is so quite - no one knows what this thing is going to do right now. I follow other message boards, and others are saying this might go up to 251. But, I can find another message board saying it's going down. Maybe it will go down, and then back up. :-)


Frank
  • #8,385
  • Jul 16, 2007 9:30am Jul 16, 2007 9:30am
Quoting monarch
Little quiet here because of the JPY Holiday, it should get moving a little bit towards the Asia Open today.

For now, were just bouncing around in a nice tight range with no direction given yet, or possibly we have seen the retrace down to 38.2% - 247.58, and were on our way back up once again to test the high.

HIGH 248.47
LOW 247.58
MEDAIN 248.02 (Friday's Closing Price)

Until be break above the 248.92 high area, or below the 247.58 low area, we might just keep an eye on the other Two Pairs that are driving the ship here:

The GBP/USD which has no resistance on top and the USD/JPY.
thank you if you underestand more ,,, please say to me here ... very thanks friend .
byebye costly moments.
  • #8,386
  • Jul 16, 2007 9:37am Jul 16, 2007 9:37am
Quoting 1000USD
my god I need down ... selll it sell ... my sell positions are in 247.70 I can see loossss.... WHY not fall in and drop down today ????
Do you have a reason for this to fall today? You sold at support!!

We may see some downward movement but you had to see that this was not going straight down.

Today is Monday not the best day to trade.

I am looking for a top 250.25 (Hopefully this week before turning around and selling off to 245 area).

Hoping for drop to 247 area before it hits 250 to add to longs 248.50 may be turnaround point for this pair on this push up.

But then again it could test last high Stay tuned.......
  • #8,387
  • Jul 16, 2007 9:39am Jul 16, 2007 9:39am
Quoting 1000USD
thank you if you underestand more ,,, please say to me here ... very thanks friend .
I have both longs and shorts going during this range.

I only trade the 4hour candle, and the high yesterday was 248.47.

For now I will watch the high at 248.92 if we have a close above that line on the 4hr, I will add to my Longs and consider releasing my shorts, until then, consider taking your profits quicker during this up and down time in the range area.

There are lots of small profits with GJ during these consolidating periods, but be careful, and keep your eyes on the highs and lows, because when it take off and breaks out, there won't be now turning around and losses could be heavier than you desire.
  • #8,388
  • Jul 16, 2007 9:39am Jul 16, 2007 9:39am
Quoting 1000USD
my god I need down ... selll it sell ... my sell positions are in 247.70 I can see loossss.... WHY not fall in and drop down today ????
relax my friend. don't get anxious.
I am hungry for pips
  • #8,389
  • Jul 16, 2007 9:54am Jul 16, 2007 9:54am
Quoting fxhunger
relax my friend. don't get anxious.
thank you ... do you know ? this is second time that I loos my money ...
byebye costly moments.
  • #8,390
  • Jul 16, 2007 9:54am Jul 16, 2007 9:54am
aahh, finally yen moves. long 32 pips.. :-D
  • #8,391
  • Jul 16, 2007 10:18am Jul 16, 2007 10:18am
coming down ?
byebye costly moments.
  • #8,392
  • Jul 16, 2007 10:21am Jul 16, 2007 10:21am
Quoting 1000USD
thank you ... do you know ? this is second time that I loos my money ...
I've learnt the hard way to never sell this pair unless I have a very good reason to. So I only get long, generally on dips. I then have the interest rates on my side should I have to hold that long for a while.

If I notice an unwinding or a correction coming, I hedge and open shorts (also close losing positions according to money management), but I close these shorts as soon as possible once I find it's reached a bottom. (I use Fibonacci levels, it works well with this pair)

Until then, the longs keep earning interest, and I have yet another opportunity to buy for a good price. Remember this pair is the king of carry trades, and carry trades won't die any time soon.
  • #8,393
  • Jul 16, 2007 10:21am Jul 16, 2007 10:21am
Made 36 pips on U/J. Now looking into G/J again. I'll wait untill Asian Opening. But I only go LONG on this pair. It makes AB-SO-LU-TL-Y no sense at all to short it. On the long term it will always go up.

If it goes trough 249 I'm in........... (LONG OFFCOURSE!)
  • #8,394
  • Jul 16, 2007 10:24am Jul 16, 2007 10:24am
Quoting LazyPip
I've learnt the hard way to never sell this pair unless I have a very good reason to. So I only get long, generally on dips. I then have the interest rates on my side should I have to hold that long for a while.

If I notice an unwinding or a correction coming, I hedge and open shorts (also close losing positions according to money management), but I close these shorts as soon as possible once I find it's reached a bottom. (I use Fibonacci levels, it works well with this pair)

Until then, the longs keep earning interest, and I have yet another opportunity to buy for a good price. Remember this pair is the king of carry trades, and carry trades won't die any time soon.
Everybody, listen to this type of traders.... They know why they are going long..... Not because a stupid indicator says so!

BTW: I find fibonacci levels sooooooooo cool on the yen crosses. They work like a charm.
It is so easy to make pips on the yen crosses, if you can get your timing right!
  • #8,395
  • Jul 16, 2007 10:57am Jul 16, 2007 10:57am
  •  Kokan
  • | Joined Mar 2007 | Status: Should I stay, or should I go | 73 Posts
Quoting 1000USD
coming down ?
Yes
  • #8,396
  • Jul 16, 2007 11:04am Jul 16, 2007 11:04am
Quoting Kokan
Yes
NO!
  • #8,397
  • Jul 16, 2007 11:16am Jul 16, 2007 11:16am
The trend is UP UP UP.

But occasionally there are dips to sell and more longs to buy.

Keep your "SHORTS" for a SHORT time, and your "LONGS" for a LONG time, and the profits will add up nicely.
  • #8,398
  • Jul 16, 2007 11:17am Jul 16, 2007 11:17am
Quoting Sidus
NO!
LOL thats why i luv this thread so much
"it doesn't come any sharper than this!"
  • #8,399
  • Jul 16, 2007 11:49am Jul 16, 2007 11:49am
Quoting LazyPip
I've learnt the hard way to never sell this pair unless I have a very good reason to. So I only get long, generally on dips. I then have the interest rates on my side should I have to hold that long for a while.

If I notice an unwinding or a correction coming, I hedge and open shorts (also close losing positions according to money management), but I close these shorts as soon as possible once I find it's reached a bottom. (I use Fibonacci levels, it works well with this pair)

Until then, the longs keep earning interest, and I have yet another opportunity to buy for a good price. Remember this pair is the king of carry trades, and carry trades won't die any time soon.

That sums up trading this pair as well as I have seen it put.
  • #8,400
  • Jul 16, 2007 11:55am Jul 16, 2007 11:55am
Quoting trader8686
Yes, what is your real openion? I have nno idea what happened to GJ.
Thight range until late august than a violent breakout to 260......

But honoustly, I don't know and I don't care.

I take the opportunity as it presents itself, but in the holiday season and this cross just below it's recent highs, the above might be a plausible scenario.

Long as always to collect interest and will buy more on dips down to 230ish. In the meantim I'm enjoying some time away from the screens.

Perhaps I should have a gender change to morph into a japanese housewife
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