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Daily GBP/JPY analysis

  • #8,981
  • Jul 23, 2007 4:39pm Jul 23, 2007 4:39pm
Quoting auslanco
This is why I always rely on a technical strategy rather than a fundamental strategy.
What kind of fundamental strategies exist? I find technical strategies up the yin/yang but have never seen any fundamental systems?

Just curious.
If you can't tell what the herd is doing...you probably are the herd.
  • #8,982
  • Jul 23, 2007 4:46pm Jul 23, 2007 4:46pm
According to George Soros - In forex for a currency to move up or down... due to 4 factors..
1.Inside Factor
2.Outside Factor
3.Completely Unknown Factor
4.Bravado Factor
BAM BAM BOOM! -bravado
  • #8,983
  • Jul 23, 2007 4:47pm Jul 23, 2007 4:47pm
Correct me if I'm wrong, but it looks like we are on a downtrend. It looks like the "sellers" are pushing the price down and I would think that it would be a good time to put in a short, but do you think that they will exhaust their options before it hits 248.60? I'm doing a lot of reading and I want to make sure I understand this.

Corrections please!
  • #8,984
  • Jul 23, 2007 4:49pm Jul 23, 2007 4:49pm
Quoting felixcattus
What kind of fundamental strategies exist? I find technical strategies up the yin/yang but have never seen any fundamental systems?

Just curious.
fundamental strategy is news trading, and stacking up positions thinking that intreste rates will go up or down. Here in Australia I know a guy , his startegy is purley based on interest rate hikes & cuts of a certain currency. It's working for him since he;'s a well seasoned economist .
  • #8,985
  • Jul 23, 2007 4:52pm Jul 23, 2007 4:52pm
Quoting bravado
According to George Soros - In forex for a currency to move up or down... due to 4 factors..
1.Inside Factor
2.Outside Factor
3.Completely Unknown Factor
4.Bravado Factor

Number 1 through 3 has been very difficult for me in my trading experience, but STEP #4 is just making me a killing on my trades.

Which is about a Pip a month on average.

LOL

Good trading to you BORDER TRADER.
  • #8,986
  • Jul 23, 2007 4:56pm Jul 23, 2007 4:56pm
Quoting JDAMv3
Correct me if I'm wrong, but it looks like we are on a downtrend. It looks like the "sellers" are pushing the price down and I would think that it would be a good time to put in a short, but do you think that they will exhaust their options before it hits 248.60? I'm doing a lot of reading and I want to make sure I understand this.

Corrections please!
I would not advise you to jump on the boat right now. What you see on your charts right now about the price movements means nothing. It's trading on a very thin volume right now. This bear baby is big enough for you to enter @ 248.60 and still laugh all the way to the bank end of this week. so Patience is the key here. If you really want to enter before 248.60... I will tell you when the 1hr charts cross over to bear so you can pull the trigger then. Untill then have patience my friend...
  • #8,987
  • Jul 23, 2007 5:00pm Jul 23, 2007 5:00pm
Quoting monarch
Number 1 through 3 has been very difficult for me in my trading experience, but STEP #4 is just making me a killing on my trades.

Which is about a Pip a month on average.

LOL

Good trading to you BORDER TRADER.
whatever.
BAM BAM BOOM! -bravado
  • #8,988
  • Jul 23, 2007 5:04pm Jul 23, 2007 5:04pm
Quoting auslanco
I would not advise you to jump on the boat right now. What you see on your charts right now about the price movements means nothing. It's trading on a very thin volume right now. This bear baby is big enough for you to enter @ 248.60 and still laugh all the way to the bank end of this week. so Patience is the key here. If you really want to enter before 248.60... I will tell you when the 1hr charts cross over to bear so you can pull the trigger then. Untill then have patience my friend...
I'm an idiot, I was looking at the 4H and nothing else. Now on the 1H we jsut had a hanging man, this shows a bearish movement, correct? I'm not looking to win the Indy 500 or nothing, I'm just trying to understand these things. I thank you all for you patience.
  • #8,989
  • Jul 23, 2007 5:05pm Jul 23, 2007 5:05pm
My past experience so far with GBPJPY is an uptrend on the weekly and daily chart...For the short term, the 4 hr and 1 hr chart shows a reversal which I believe will have a nice retracement from the 246.30 to 246.40 range...This is my own judgement...

Carry trade is too strong to turn downtrend in long term because of swap interest..

rgitt05
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy hour chart.jpg Size: 114 KB
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  • #8,990
  • Jul 23, 2007 5:19pm Jul 23, 2007 5:19pm
LOL ........ PLEASED BE ADVISED IT IS NOT TO LATE TO LOAD THE BOAT............!!!!!!!!!!!!!!!!!

Perfect storm is here..........
  • #8,991
  • Jul 23, 2007 5:27pm Jul 23, 2007 5:27pm
Quoting fixme1too
LOL ........ PLEASED BE ADVISED IT IS NOT TO LATE TO LOAD THE BOAT............!!!!!!!!!!!!!!!!!

Perfect storm is here..........

Bullish Storm?
Bearish storm?
or
British storm?

  • #8,992
  • Jul 23, 2007 5:29pm Jul 23, 2007 5:29pm
Quoting fixme1too
LOL ........ PLEASED BE ADVISED IT IS NOT TO LATE TO LOAD THE BOAT............!!!!!!!!!!!!!!!!!

Perfect storm is here..........
You dont have to tell me twice, the boat is loaded. Bought 249.25
And for mr short dont take it personal, were just here to take your money.
  • #8,993
  • Jul 23, 2007 5:31pm Jul 23, 2007 5:31pm
249.63 and 249.13 my longs from Sunday open.
  • #8,994
  • Jul 23, 2007 5:35pm Jul 23, 2007 5:35pm
auslanco hope this answer the question...


Quoting fixme1too
Time to load the boat for longs....... especially the next hourly bar we get to close above 249.36 you can do it on the half hour bar if you want to get in early. tight stops are in play still as we remain in the 4 wave we spoke of last week .
Attached Image
  • #8,995
  • Jul 23, 2007 5:42pm Jul 23, 2007 5:42pm
Quoting bravado
whatever.
At least you made me 1 pip. LOL

Didn't mean it as a bad joke, but that at least your making me something more than those other three do.

Just wondering when and where you post your entries?

Been looking for your info for some time now, can you link me to your strategy.

Thanks.
  • #8,996
  • Jul 23, 2007 5:55pm Jul 23, 2007 5:55pm
Quoting mrroboto
You dont have to tell me twice, the boat is loaded. Bought 249.25
And for mr short dont take it personal, were just here to take your money.
I will make my self clear... If the price goes through 250.68 then it will be start of a bullish trend and if the price goes through 248.60 it's a start of a bearish trend. Even a forex genuis like mrroboto cant stop that happening. therefor between 248.60 - 250.68 it's range trading. overall it's 90% bearish right now.
  • #8,997
  • Jul 23, 2007 5:59pm Jul 23, 2007 5:59pm
Hello.
I am a new member in this forum. hope u all joyfully with me.
  • #8,998
  • Jul 23, 2007 6:03pm Jul 23, 2007 6:03pm
I see gy is rangeing

now what chart is the best one to use Fibs on,
I am using 3 hr and 1 charts now
oanda doesn't offer a 4 hr chart

will using a 3 hour chart make that much difference?

ty
  • #8,999
  • Jul 23, 2007 6:05pm Jul 23, 2007 6:05pm
Quoting auslanco
For all Mr LONGS.. I have been trading this pair every single day for the last 2 and a half years. I have bought two houses and a nice fancy car just by trading GBP/JPY. So may be I know something what I'm talking about. Unless you are willing to take atleast 500 pip drawdown in the next few days... please think twice about your long positions.

dang... that's good trading. i just blew up two accounts trading this pair. gah!
  • #9,000
  • Jul 23, 2007 6:05pm Jul 23, 2007 6:05pm
Quoting auslanco
I will make my self clear... If the price goes through 250.68 then it will be start of a bullish trend and if the price goes through 248.60 it's a start of a bearish trend. Even a forex genuis like mrroboto cant stop that happening. therefor between 248.60 - 250.68 it's range trading. overall it's 90% bearish right now.
Dont take it personal mate. Were just here to make money.
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