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Daily GBP/JPY analysis

  • #9,021
  • Jul 23, 2007 7:25pm Jul 23, 2007 7:25pm
  • #9,022
  • Jul 23, 2007 7:25pm Jul 23, 2007 7:25pm
Quoting fixme1too
LOL not to late for the LONGS guys lol

Hmmmm.... it's funny you still making long calls..
  • #9,023
  • Jul 23, 2007 7:28pm Jul 23, 2007 7:28pm
Whats so funny about it....


Quoting auslanco
Hmmmm.... it's funny you still making long calls..
  • #9,024
  • Jul 23, 2007 7:32pm Jul 23, 2007 7:32pm
Quoting fixme1too
LOL ........ PLEASED BE ADVISED IT IS NOT TO LATE TO LOAD THE BOAT............!!!!!!!!!!!!!!!!!

Perfect storm is here..........
hmmm are u loading up the boat?
  • #9,025
  • Jul 23, 2007 7:33pm Jul 23, 2007 7:33pm
Quoting fixme1too
LOL not to late for the LONGS guys lol
are u for real?
  • #9,026
  • Jul 23, 2007 7:34pm Jul 23, 2007 7:34pm
Quoting fixme1too
on the 4 hour chart we are in a consolidating wave 4. When you see no direction on a pair that trends hard like this pair does, then stops at the drop of a dime from a strong trend and consolidates for days on out even if you dont know how to count waves, more times than not it is a 4 wave waiting to breakout. TP on 4 hour top is 252 range. On a long term monthly chart look for 254.00's... The 4 wave will take alot of people's money with the fake outs so be careful.... Happy Trading.....

FixMe1Too
Isnt this the call you made on friday before 200 pips went against your prediction I understand no one can be right 100% of the time. But I dont see what you see in Long calls
  • #9,027
  • Jul 23, 2007 7:38pm Jul 23, 2007 7:38pm
[
  • #9,028
  • Jul 23, 2007 7:42pm Jul 23, 2007 7:42pm
Quoting auslanco
Isnt this the call you made on friday before 200 pips went against your prediction I understand no one can be right 100% of the time. But I dont see what you see in Long calls
Your short call about 45 minutes ago was right on Bro.

As far as LONGS, I personally had the same prediction last week, and it reversed on me heavy, but i caught it in time and shorted from the gap during the Sunday open.

I can still see FIXME1TOO and his longs, give this time to retrace first, and don't get trapped in heavy drawdown, there will be great pips on the spring up later on.

Until then, lets see if it will go down to 248.07 and then the 61.8 at 247.46 or there abouts.
  • #9,029
  • Jul 23, 2007 7:45pm Jul 23, 2007 7:45pm
Bounce off of 248.60 ????
  • #9,030
  • Jul 23, 2007 7:48pm Jul 23, 2007 7:48pm
short better hope we dont close above 248.99 at the end of this bar on the hourly chart
  • #9,031
  • Jul 23, 2007 7:50pm Jul 23, 2007 7:50pm
I will show you a method to stay away from bad calls most of the time..after a big trending spike... price always retrace back to 5 SMA of any time frame. 5 SMA is the true price. Lots of people gets confused when the price retrace back to 5 SMA thinking the trend is going on opposite direction. But it's just a retracement where actulay is the true price stands.After it retraced back to 5 SMA it will start going towards the 4hr trend. this is very important to understand if you trading high volatile pairs like GBP/JPY.
  • #9,032
  • Jul 23, 2007 7:52pm Jul 23, 2007 7:52pm
Quoting fixme1too
short better hope we dont close above 248.99 at the end of this bar on the hourly chart
Watching the UJ here, that 120.70 area has been a tough support to break, lets see where we end up here at the new 4 hour in 10 minutes.

That may be a sign of deeper retrace on GJ for now.

Ken
  • #9,033
  • Jul 23, 2007 7:53pm Jul 23, 2007 7:53pm
Toyko fix in 3 min or less...

Quoting fixme1too
short better hope we dont close above 248.99 at the end of this bar on the hourly chart
[
  • #9,034
  • Jul 23, 2007 7:54pm Jul 23, 2007 7:54pm
Quoting auslanco
I will show you a method to stay away from bad calls most of the time..after a big trending spike... price always retrace back to 5 SMA of any time frame. 5 SMA is the true price. Lots of people gets confused when the price retrace back to 5 SMA thinking the trend is going on opposite direction. But it's just a retracement where actulay is the true price stands.After it retraced back to 5 SMA it will start going towards the 4hr trend. this is very important to understand if you trading high volatile pairs like GBP/JPY.
would u mind showing a chart with 5sma, we would really appreciate it
  • #9,035
  • Jul 23, 2007 7:56pm Jul 23, 2007 7:56pm
I'm sure everyone is aware that GJ is a real monster.
Especially with GBP/USD at 25+ years high!
Chances favour the prepared.
  • #9,036
  • Jul 23, 2007 7:56pm Jul 23, 2007 7:56pm
Quoting auslanco
I will show you a method to stay away from bad calls most of the time..after a big trending spike... price always retrace back to 5 SMA of any time frame. 5 SMA is the true price. Lots of people gets confused when the price retrace back to 5 SMA thinking the trend is going on opposite direction. But it's just a retracement where actulay is the true price stands.After it retraced back to 5 SMA it will start going towards the 4hr trend. this is very important to understand if you trading high volatile pairs like GBP/JPY.

btw what is the price at 5 sma?
  • #9,037
  • Jul 23, 2007 8:00pm Jul 23, 2007 8:00pm
name the MA in play.
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  • #9,038
  • Jul 23, 2007 8:00pm Jul 23, 2007 8:00pm
This pair going down...
[
  • #9,039
  • Jul 23, 2007 8:02pm Jul 23, 2007 8:02pm
wait for the close throught the upper white trendline, then look for test of the lower white support.... could say inline with what others are saying.
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  • #9,040
  • Jul 23, 2007 8:05pm Jul 23, 2007 8:05pm
Quoting chonpz
would u mind showing a chart with 5sma, we would really appreciate it
you might not be able to spot it on my charts as it's got 100 million indicators. The best you could do is.. draw the 5 sma on daily,4hr,1hr, 30, 10 mins. we saw the price retarcaed to daily 5 SMA yesterday @ 249.90.. and started going on the 4 hr direction (down). We just now saw the price retraced to 30 min SMA which actually stands @ 248.95. 1hr 5 sma stands @ 249.09

30 min and 1 hr retraceents are the most common. then you get the 4 hr retracemnt stands @ 249.40... which happens occassionaly and daily stands @ 249.44-249.60 which happens very rearly when the market is dead. these 5 sma retracement by no means it's a change of the trend. always the short to medium term trend is 4hr.
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