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Daily GBP/JPY analysis

  • #8,581
  • Jul 20, 2007 2:51am Jul 20, 2007 2:51am
Quoting auslanco
stronger reading doesnt always mean that banks are going to go on a GBP buying spree. Look at yesterday US news. There were three US news releases came negative one after the other + Bernake whole load crap and no real solution for US economy. But still GBP/USD couldnt go up. Actually USD gained .

This is all about pre-meditated Forex mafia controlled by the Big 10 banks and companies. no one has to agree with me but I know a thing or two about this since I have a very close connetion to a investment bank in Australia.
Make sense - so where do we get the latest insights into the forex mafia and their intentions
  • #8,582
  • Jul 20, 2007 2:51am Jul 20, 2007 2:51am

monarch...if 4hour candle closed above 250.80 is it a sure bullish??

"Analysis Is Hard But Trade Is Easy"
  • #8,583
  • Jul 20, 2007 2:57am Jul 20, 2007 2:57am
Quoting Se[V]eN

monarch...if 4hour candle closed above 250.80 is it a sure bullish??


Sure bullish

There are only two things you can be sure. That's Tax and death and nothing else.
  • #8,584
  • Jul 20, 2007 2:58am Jul 20, 2007 2:58am
Quoting auslanco
stronger reading doesnt always mean that banks are going to go on a GBP buying spree.
I know and that's not what I said. I'm looking at the data in a larger picture, I couldn't care less about the immediate reaction other than it could provide a better entry price for another long. So some times I use it to time entries and to detemine whether the fundamentals are still favouring a continuation of the mid-term trend.
  • #8,585
  • Jul 20, 2007 3:00am Jul 20, 2007 3:00am
Quoting Se[V]eN

monarch...if 4hour candle closed above 250.80 is it a sure bullish??

Usually I would say "yes", HOWEVER, today is Friday and strange things happen. Its a bit like trying to understand your girlfriend or wife - just when you think you know what she's thinking, she does the opposite !
  • #8,586
  • Jul 20, 2007 3:01am Jul 20, 2007 3:01am
Quoting Timingy
Make sense - so where do we get the latest insights into the forex mafia and their intentions
This is all beer talk in pubs with my friends who work for the banks. You are more than welcome to join us...
  • #8,587
  • Edited 3:33am Jul 20, 2007 3:02am | Edited 3:33am
Quoting Se[V]eN

monarch...if 4hour candle closed above 250.80 is it a sure bullish??




I didn't expect this move here before the news, thats for sure.

My 4 hour closes at 5am EST, 1/2 hour after the news report is released, and I expected we pushing over the 250.51 after the news, so if were closed above this 250.51 after the news movement, and more towards towards your 80 area, I would be still in all my longs for sure.

The range on a Friday is 187 pips, so our starting point was 250.18 at the open of the day, and that would project us to the 252.05 area, but my target for now is 251.95 area. ITALIC WAS CORRECTED

Lets see how we make out on this news report, and also how the UJ fares with this 122.58 line, that is a key part in the mix, breaking above that 61.8 fibo level from that big drop on 7-9-07.

So the key for me is UJ Bullish above the 122.58 with a close, and the GU down back to the 2.0470 level.

I took my longs already before the actual move happened, my indication was on the 1am EST 4 hour candle, but I will be looking to add more lots here at 5am if were looking Bullish still.

We have been very bullish from the point of 248.92 high last week, this is part of that move, and we only had a 23.6 retrace, so that should suffice also with pushing us into a new range over 251.00.

I am still long from 248.87, and have added longs along the way, I will not release the Longs until I see we have completed the top of this wave, which Fixme1too is referring too.

Hope that makes sense, getting late here, and only 4 hours of sleep yesterday.

Enjoy and Make some PIPS SEVEN!!
  • #8,588
  • Jul 20, 2007 3:02am Jul 20, 2007 3:02am

Quoting musicman007
Usually I would say "yes", HOWEVER, today is Friday and strange things happen. Its a bit like trying to understand your girlfriend or wife - just when you think you know what she's thinking, she does the opposite !



forex is why i dont have a girl friend
"Analysis Is Hard But Trade Is Easy"
  • #8,589
  • Jul 20, 2007 3:05am Jul 20, 2007 3:05am
Quoting Se[V]eN

forex is why i dont have a girl friend
Look on the bright side - at least no-one else is screwing with your mind !
  • #8,590
  • Jul 20, 2007 3:06am Jul 20, 2007 3:06am
Bloomberg:

GBP/YEN +34% gain
EUR/JPY +20% gain, all time high
USD/JPY + 30% gain


Hmmm... not bad @ the london start
  • #8,591
  • Jul 20, 2007 3:09am Jul 20, 2007 3:09am
Quoting BaasHarm!
I know and that's not what I said. I'm looking at the data in a larger picture, I couldn't care less about the immediate reaction other than it could provide a better entry price for another long. So some times I use it to time entries and to detemine whether the fundamentals are still favouring a continuation of the mid-term trend.
Sorry I may have misunterstood you. I was pointing at the upcoming UK news event.

  • #8,592
  • Jul 20, 2007 3:14am Jul 20, 2007 3:14am

thank you every one..

"Analysis Is Hard But Trade Is Easy"
  • #8,593
  • Jul 20, 2007 3:16am Jul 20, 2007 3:16am
Thinking out loud here, in the UK we have a successful economy and interest rates on the up. Prices of Crude Oil are back up again as per last year which contributed to the overall CPI increases. We are now about to see £1 per litre for fuel - yes guys in the US - £1 PER LITRE or £4.50 per Gall or $9.20pg !!!!!

The overall effect is to push up CPI further, increasing interest rates along the way. I still think we have to go to at least 6.0, maybe 6.25 before we ease the rate down. At present last years energy costs are coming out of the y on y equation, however, the new rises havent been factored in yet. When the utility companies hike their rates the inflation will increase again. With a large part of oil reserves sat in the middle east and US capacity reduced this gives rise to further problems short term.
  • #8,594
  • Jul 20, 2007 3:25am Jul 20, 2007 3:25am
Quoting musicman007
Usually I would say "yes", HOWEVER, today is Friday and strange things happen. Its a bit like trying to understand your girlfriend or wife - just when you think you know what she's thinking, she does the opposite !
mens too, quite hard to understand..
  • #8,595
  • Jul 20, 2007 3:28am Jul 20, 2007 3:28am
Trust me...The pound will go down on the news.
  • #8,596
  • Jul 20, 2007 3:35am Jul 20, 2007 3:35am
Quoting Just1Pip
Trust me...The pound will go down on the news.
It was up.. I hope it is down too but never.
  • #8,597
  • Jul 20, 2007 3:38am Jul 20, 2007 3:38am
Quoting Just1Pip
Trust me...The pound will go down on the news.

Glad I didnt trust you GU will go south for a major correction in the next couple of days. That means GJ might go north.
  • #8,598
  • Jul 20, 2007 3:40am Jul 20, 2007 3:40am
Some people would consider an increase in gas prices a stealth tax. Money that could be buying products is instead paying for gas, thereby slowing down the economy.
  • #8,599
  • Jul 20, 2007 3:41am Jul 20, 2007 3:41am
Rumors
  • #8,600
  • Jul 20, 2007 3:42am Jul 20, 2007 3:42am
Should we still long GJ after the current 4h close above 250.51?
Now, only 18 min left. Hello.....?
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