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Daily GBP/JPY analysis

  • #8,501
  • Jul 17, 2007 4:52pm Jul 17, 2007 4:52pm
Quoting OrionsWay
Trader this is a work in progress R & D
You would want to sell the hi 250.06 and buy the lo 248.98 limit

those 2 numbers are the safe zone between all them other numbers. hi probability pips if this projection is right PERIOD.

or any of the other higher levels of that projected daily range if u are a seller.
Death is the only absolute on this dust world we live, YOUR RISK NOT MINE
Got it, thanks.http://www.forexfactory.com/images/icons/icon7.gif
  • #8,502
  • Jul 17, 2007 5:55pm Jul 17, 2007 5:55pm
Quoting OrionsWay
This was the projected range for the week beginning monday

251.15 250.45 249.74 247.08 246.81 246.54 we havent hit the lo of that range yet, maybe we are heading to that area now ???????

by looking at this whole sets of numbers, making me feels like playing lotto...
  • #8,503
  • Jul 17, 2007 6:14pm Jul 17, 2007 6:14pm
maybe beginning of monthly/weekly retracement
"Millionaires don't use astrology, billionaires do"
  • #8,504
  • Jul 17, 2007 7:01pm Jul 17, 2007 7:01pm
Hey,

I just joined the forums today, looks like a great community! Anyways, I've been trading about 3 months now and am still learning and taking my time to be very careful. I got in GBP/JPY this morning at 250.02 on a SELL. I currently have my take-profit at 249.42.

Do you all think a retrace will hit 249.42 or what prices are you looking at? Suggestions/recommendations?

Thanks!
Craazy
  • #8,505
  • Edited 10:27pm Jul 17, 2007 9:58pm | Edited 10:27pm
Quoting DR.ich
so many exclamation points!!!!!!!!!
DR.ich, Do you mind to delete this previous message for us. It was a mistake I did.
Thanks, we don't want to defeat people's confidence here. It's simply my bad.
  • #8,506
  • Jul 17, 2007 10:41pm Jul 17, 2007 10:41pm
Quoting trader8686
DR.ich, Do you mind to delete this previous message for us. It was a mistake I did.
Thanks, we don't want to defeat people's confidence here. It's simply my bad.
deleted my man...
"it doesn't come any sharper than this!"
  • #8,507
  • Jul 18, 2007 7:08am Jul 18, 2007 7:08am
whats happened to everyone ????????
  • #8,508
  • Jul 18, 2007 7:09am Jul 18, 2007 7:09am
no action today...
  • #8,509
  • Jul 18, 2007 7:47am Jul 18, 2007 7:47am
today is too hot, may be?
  • #8,510
  • Jul 18, 2007 8:09am Jul 18, 2007 8:09am

*growl*

"Analysis Is Hard But Trade Is Easy"
  • #8,511
  • Jul 18, 2007 8:14am Jul 18, 2007 8:14am
currently long on GBP/JPY @ 250.26 (current price 250.08)
Following the 4hr trend since the pair did not show much of a direction on 1 hr trend after the US news release. USD/JPY supports a good 4hr and daily bullish trend. Take profit target is 252 ( by next week) SL 249.20.
  • #8,512
  • Edited 4:05pm Jul 18, 2007 3:07pm | Edited 4:05pm
The high is 250.51 and we are 1 hour from closing the 4hr candle

5pm EST when the 4 hour Candle closes and if we are above the 250.51 line I will re-enter another 5 lots Long for the next move upwards.

"This will only be triggered with the candle close above 250.51"

This is based on 4 hour candle data.

Last Entry was 248.87 when the candle opened above Fixme1too's line at 248.40 on 7-17-2007 at 5am EST.

Open price was 248.87
10 Lots
5 lots released at 250.05
5 lots still in for higher exit level estimated at 251.96 target.
"note" this 5 lots will only remain in if there is bullish strenght in the 4HR"

4 HR CLOSE 250.32
NO ENTRY LONG AT THIS POINT - PRICE BELOW 250.51 AT CLOSE

Interest paid out at the end of Daily candle 5PM, and there is a nice drop in G/J from this.
  • #8,513
  • Jul 18, 2007 5:25pm Jul 18, 2007 5:25pm
Quoting monarch
The high is 250.51 and we are 1 hour from closing the 4hr candle

5pm EST when the 4 hour Candle closes and if we are above the 250.51 line I will re-enter another 5 lots Long for the next move upwards.

"This will only be triggered with the candle close above 250.51"

This is based on 4 hour candle data.

Last Entry was 248.87 when the candle opened above Fixme1too's line at 248.40 on 7-17-2007 at 5am EST.

Open price was 248.87
10 Lots
5 lots released at 250.05
5 lots still in for higher exit level estimated at 251.96 target.
"note" this 5 lots will only remain in if there is bullish strenght in the 4HR"

4 HR CLOSE 250.32
NO ENTRY LONG AT THIS POINT - PRICE BELOW 250.51 AT CLOSE

Interest paid out at the end of Daily candle 5PM, and there is a nice drop in G/J from this.
Greetings Monarch and everyone ,

Thank you so much, Monarch, for monitoring the pair. I gather that 251 may have to wait a little bit, after we see 246.3, 245 and hopefully 237 again?

I am delighted to find this forum with so many experienced traders who are also very funny. I particularly like your strategy for pyramiding lots for SWAP. I tend to sell them off to lock in cash. Not very clever! Thanks for your strategy.

Look like the pair is warming up for its downhill trip now!

Best regards
BR
  • #8,514
  • Edited 6:56pm Jul 18, 2007 5:47pm | Edited 6:56pm
Another choppy Japaneese session is expected before the UK news releases. Hope the Japaneese will makeup their mind soon what to do with this carry trade pair.
  • #8,515
  • Jul 18, 2007 6:21pm Jul 18, 2007 6:21pm


JPY outlook: Risk appetite is starting to pull back and the potential is that it starts to hurt the carry trade; That's positive for the yen - Ian Stannard at BNP Paribas
07/18/2007 19:14:59

Hmmm....
  • #8,516
  • Jul 18, 2007 6:39pm Jul 18, 2007 6:39pm
i put in a short agian
last week it blew me away
hopefully will come down so I can put some longs in

so if the dow had a sorta bad day today
does this effect the gj and why
thanks so much for all the input into this tread
it is teaching me alot.
I thank you for your opinions and laughter
hee hee

great days for trading ahead
  • #8,517
  • Jul 18, 2007 7:01pm Jul 18, 2007 7:01pm
careful with your short rest of the week should be long...
252 over the horizon and we are past "hump day" which is Wednesday without no strong sign of reversal also past mid part of month without reaching monthly ATR yet and actually we are 200 pips away from it and 10 days left in the month to trade.. rest of month is looking long as well... so be careful with the short
Happy Trading

FiXmE1ToO

Quoting beadtrader
i put in a short agian
last week it blew me away
hopefully will come down so I can put some longs in

so if the dow had a sorta bad day today
does this effect the gj and why
thanks so much for all the input into this tread
it is teaching me alot.
I thank you for your opinions and laughter
hee hee

great days for trading ahead
  • #8,518
  • Jul 18, 2007 7:03pm Jul 18, 2007 7:03pm
Quoting auslanco

JPY outlook: Risk appetite is starting to pull back and the potential is that it starts to hurt the carry trade; That's positive for the yen - Ian Stannard at BNP Paribas
07/18/2007 19:14:59

Whats this news meant was it might not go towards or beyond 300. But Judging by my indicators it still might go another 150-200 pips north before the next major south turn. I'm looking forward to the UK news today. Might see some explosive moves.
  • #8,519
  • Jul 18, 2007 7:21pm Jul 18, 2007 7:21pm
Quoting auslanco
Whats this news meant was it might not go towards or beyond 300. But Judging by my indicators it still might go another 150-200 pips north before the next major south turn. I'm looking forward to the UK news today. Might see some explosive moves.
Do u mind sharing your indicator here?
  • #8,520
  • Jul 18, 2007 7:23pm Jul 18, 2007 7:23pm
We have 40 minutes for the 4 hour candle to close.

We have this candle high at 250.43 so far, and the last 4 hour candle high was 250.44.

This is a key area, but I am still looking for a 4 hour to close above the 250.51 prior to re-entering more Long entries.

I have no intentions of Shorting the GJ at this point (as per Fixme1too's post), and will monitor the UJ along with this.

GU looks topped out for now and if it drops here, we will see the UJ and GJ movement upwards, and the news released was poor JPY a little while ago.

I will check back in at 1am EST to see where we stand.

Out of the office for this candle here.

Good Trading to all.
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