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Daily GBP/JPY analysis

  • #8,881
  • Jul 23, 2007 1:52am Jul 23, 2007 1:52am
I will go long if the pair can close above 249.30 by few pips...
  • #8,882
  • Jul 23, 2007 1:54am Jul 23, 2007 1:54am
Quoting craazy
Hey Auslanco how are those charts looking now?
1 hr chart is still bullish and giving me a real headache. I still very much go with my bearish statement. I went short from 250.02 and have lots of space to gamble. We might see a "Frankfurt-London opposite direction".
  • #8,883
  • Edited 2:14am Jul 23, 2007 1:55am | Edited 2:14am
Quoting Alfa159
I will go long if the pair can close above 249.30 by few pips...
On what time frame, the London open or hourly?

Thanks
  • #8,884
  • Jul 23, 2007 1:57am Jul 23, 2007 1:57am
Quoting auslanco
1 hr chart is still bullish and giving me a real headache. I still very much go with my bearish statement. I went short from 250.02 and have lots of space to gamble. We might see a "Frankfurt-London opposite direction".
Well I have my fingers crossed.. you'd think with Yen going up and a flood it would be on its way down
Craazy
  • #8,885
  • Jul 23, 2007 1:57am Jul 23, 2007 1:57am
How do we tell direction up/down when the London opened?
  • #8,886
  • Jul 23, 2007 1:57am Jul 23, 2007 1:57am
something clean without distorts

Inserted Video
"it doesn't come any sharper than this!"
  • #8,887
  • Jul 23, 2007 1:58am Jul 23, 2007 1:58am
Quoting monarch
On what time frame, the London open or hourly?

Thanks
I will observe the London opening for a while and will use the H1 timeframe but might wait for H4 as well... Waiting for H4 would be safest, but I might loose the best long entry position if i linger too much.
  • #8,888
  • Jul 23, 2007 2:02am Jul 23, 2007 2:02am
Frankfurt- London Opposite direction means... when @ frankfurt open if the pair goes up, after London open it will go down(opposite direction to Frankfurt)) and viseversa. This happens aprox.60% of the times with GBP .
  • #8,889
  • Jul 23, 2007 2:05am Jul 23, 2007 2:05am
Keep me updated on those bearish charts...
Craazy
  • #8,890
  • Jul 23, 2007 2:06am Jul 23, 2007 2:06am
Quoting DR.ich
something clean without distorts

http://www.youtube.com/watch?v=Ddn4MGaS3N4
Thanks for the link, listening to Andy and enjoying it.

Appreciate it.

Good Trades to you.
  • #8,891
  • Jul 23, 2007 2:19am Jul 23, 2007 2:19am
hi..


auslanco....I am getting a bit lost with your trades...

a few pages back you said you were short 8 lots @ 248.98 with a SL@ 250.36

Above you say your short @ 250.02... it has not hit 250.02 on my charts today..
  • #8,892
  • Jul 23, 2007 2:23am Jul 23, 2007 2:23am
Quoting Angler
hi..


auslanco....I am getting a bit lost with your trades...

a few pages back you said you were short 8 lots @ 248.98 with a SL@ 250.36

Above you say your short @ 250.02... it has not hit 250.02 on my charts today..
It went that high and some.

Fxcm and EFX both - MT4 has it at 250.18 high since market open.
  • #8,893
  • Jul 23, 2007 2:23am Jul 23, 2007 2:23am
Quoting Angler
hi..


auslanco....I am getting a bit lost with your trades...

a few pages back you said you were short 8 lots @ 248.98 with a SL@ 250.36

Above you say your short @ 250.02... it has not hit 250.02 on my charts today..
I opened those positions on friday. But hit my stop loss on the weekend. I shouldnt have opend any positions on a friday night... but it was too tempting when I saw the Bearish trend. But I paid the price. New positions were open today @ just before the asian start.
  • #8,894
  • Jul 23, 2007 2:24am Jul 23, 2007 2:24am
Yeh................., we are down.
  • #8,895
  • Jul 23, 2007 2:25am Jul 23, 2007 2:25am
Ok guys as I mentioned before what we are seeing here is Frankfurt-London Reversal. Looks very promosing to the downside....
  • #8,896
  • Jul 23, 2007 2:27am Jul 23, 2007 2:27am
Quoting auslanco
Ok guys as I mentioned before what we are seeing here is Frankfurt-London Reversal. Looks very promosing to the downside....
What kind of T/P levels you looking at over the next few hours? Is 248 reasonable?
Craazy
  • #8,897
  • Jul 23, 2007 2:31am Jul 23, 2007 2:31am
Quoting craazy
What kind of T/P levels you looking at over the next few hours? Is 248 reasonable?
248.07 is the 50% retrace level, we are sitting/straddling on the 38.2 for the last five - 4 hour candles, this will be interesting to see if we head to the next fibo level.

Any suggestions peeps?
  • #8,898
  • Jul 23, 2007 2:32am Jul 23, 2007 2:32am
I'm looking @ 245.15, July 11th low. But I going to cash in 1/2 my position when it comes to breakeven of my looses on previous two trades.
  • #8,899
  • Jul 23, 2007 2:38am Jul 23, 2007 2:38am
Quoting auslanco
I'm looking @ 245.15, July 11th low. But I going to cash in 1/2 my position when it comes to breakeven of my looses on previous two trades.
I was originally looking at the 248.30 for exit, but the 248.07 is in reach if we break below the 248.54 low from the Market Open, and possibly the 61.8% at 247.36.

I previously had 246.50 area as a target, but will evaluate the candle closing on the hourly and 4 hour.

Where is your 1/2 position close at?

Looks like UJ is sitting still while the GJ is riding upwards with GU, lets see if we get any UJ movement here to stir up the pot.
  • #8,900
  • Jul 23, 2007 2:48am Jul 23, 2007 2:48am
Quoting monarch
I was originally looking at the 248.30 for exit, but the 248.07 is in reach if we break below the 248.54 low from the Market Open, and possibly the 61.8% at 247.36.

I previously had 246.50 area as a target, but will evaluate the candle closing on the hourly and 4 hour.

Where is your 1/2 position close at?

My 1/2 position target would be around 247.50 area.
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