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Daily GBP/JPY analysis

  • #9,401
  • Jul 24, 2007 10:21pm Jul 24, 2007 10:21pm
Quoting monarch
What is your experience with the LONGS coming into play here today at LONDON looking for that TRIPLE Interest to pay out?

Not that I think were Long just yet, but was just pondering the possibilies of what if???

Thanks, Ken

Only thing could happen is some 30 somthing cowboy hedge fund managers from london can give the pair around 100 pips retracemnt towards north but it's highly unlikely when they know that NY is in a very big selling mood on GBP/JPY. For the whole trend to turn bullish it has to shoot atleast 250 pips up... beause daily is very much on bearish. Most likely London will join the selling spree to profit from some of their carry trades... as US is heading for a big meltdown and some of the currency profits might go in to Gold due to uncertinity in currency & share market.
  • #9,402
  • Jul 24, 2007 10:21pm Jul 24, 2007 10:21pm
I don't think that there is a big retracement, the worst is staying there all night.
  • #9,403
  • Jul 24, 2007 10:23pm Jul 24, 2007 10:23pm
as it is I'm over 90% sure this will further go down...
  • #9,404
  • Jul 24, 2007 10:27pm Jul 24, 2007 10:27pm
Quoting trader8686
I don't think that there is a big retracement, the worst is staying there all night.
I highly doubt that there will be a big retracemnet as the market volume is only 30% than what it use to be two hours ago. there will be some rangebound untill the London starts...But I will confirm it in another 30 mins... I dont like guessing when it comes to trading
  • #9,405
  • Jul 24, 2007 10:29pm Jul 24, 2007 10:29pm
Quoting auslanco
250.02 monday 1 hour before the asian start
249.50 yeasterday...

I knew about this bear trend from friday night...
The bear was lurking around early last week! I recalled watching the close of NY on Wednesday (triple SWAT) yet, people were dumping the pair real cheap at the close. So strange! So I have been anticipating but I did not know that it took so long for the other shoe dropped!

Anyhow, it is best if the building up of price is done gradually. I may not be popular saying this but I was not crazy buying GBPJPY at 250.

Changing the subject, you guys must notice how resilience the AUDJPY is, still @106.19 ? and how finicky the NZDJPY is, dropping to 96.44? The CHFJPY dropped so quick to 99.58 today. All and all, yen is strengthened a bit..

Happy Trading ! BR
  • #9,406
  • Jul 24, 2007 10:40pm Jul 24, 2007 10:40pm
Quoting auslanco
I highly doubt that there will be a big retracemnet as the market volume is only 30% than what it use to be two hours ago. there will be some rangebound untill the London starts...But I will confirm it in another 30 mins... I dont like guessing when it comes to trading
Would you please post what you are looking for in your indicators in the next 30 min?
  • #9,407
  • Jul 24, 2007 10:43pm Jul 24, 2007 10:43pm
Quoting Al_Have1
Would you please post what you are looking for in your indicators in the next 30 min?

Market is just retracing to 1hr 5 SMA which is 247.10.... nothing unusual... I'am waiting for the next 4hr bar @0.00EST to determin the trend since Frankfurt will add some volume to the market in 2 hours.
  • #9,408
  • Jul 24, 2007 10:48pm Jul 24, 2007 10:48pm
we also might see this trend(bear)will continue for the next 4 hours without a retracement as the market has already retraced to almost 50% of the current 4 hour bar.
  • #9,409
  • Jul 24, 2007 10:49pm Jul 24, 2007 10:49pm
Quoting auslanco
Market is just retracing to 1hr 5 SMA which is 247.10.... nothing unusual... I'am waiting for the next 4hr bar @0.00EST to determin the trend since Frankfurt will add some volume to the market in 2 hours.
are u still confident that it's bearish and towards 245?
Don't be panic when it's negative
  • #9,410
  • Jul 24, 2007 10:49pm Jul 24, 2007 10:49pm
Could this Daily trendline pose problems to gbp/jpy going down to the 245 level? Anybody?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy daily.jpg Size: 31 KB
  • #9,411
  • Jul 24, 2007 10:51pm Jul 24, 2007 10:51pm
DOBIN>>>

Yess... no doubt... but price may retrace liitle higher around 247.40 at the frankfurt open... dont get panicked..
  • #9,412
  • Jul 24, 2007 10:52pm Jul 24, 2007 10:52pm
fun thread.

virtual parties. never had one of those.

bravado.
a pro.

pips after pips. profits after profits.
BAM BAM BOOM! -bravado
  • #9,413
  • Jul 24, 2007 10:53pm Jul 24, 2007 10:53pm
Quoting my2buoys
Could this Daily trendline pose problems to gbp/jpy going down to the 245 level? Anybody?
The daily momentum is too strong to beat it.. thats why I Love this arrogant pair
  • #9,414
  • Jul 24, 2007 10:54pm Jul 24, 2007 10:54pm
Quoting bravado
virtual parties. never had one of those.
and never will.
why wood eye?
BAM BAM BOOM! -bravado
  • #9,415
  • Jul 24, 2007 10:55pm Jul 24, 2007 10:55pm
Daily RSI has only started crossing the 5o line..still lots of room to go down..
  • #9,416
  • Edited Jul 25, 2007 6:03am Jul 24, 2007 10:57pm | Edited Jul 25, 2007 6:03am
Quoting auslanco
The daily momentum is too strong to beat it.. thats why I Love this arrogant pair
Thanks for all your input. I've followed this thread from the beginning though I rarely post. You have definitely opened up my eyes to intricacies of this pair that I'd never seen before. Thanks and keep up the great work. We're all benefitting from your experience.

Roland
  • #9,417
  • Jul 24, 2007 11:02pm Jul 24, 2007 11:02pm
Quoting my2buoys
Could this Daily trendline pose problems to gbp/jpy going down to the 245 level? Anybody?
looks like it could be a problem perhaps we've seen the bottom?
  • #9,418
  • Jul 24, 2007 11:03pm Jul 24, 2007 11:03pm
Quoting auslanco
DOBIN>>>

Yess... no doubt... but price may retrace liitle higher around 247.40 at the frankfurt open... dont get panicked..
critical thing
where to put my S/L?
I don't wanna it to be hit by fake bullish again
Don't be panic when it's negative
  • #9,419
  • Jul 24, 2007 11:03pm Jul 24, 2007 11:03pm
Auslanco,

You were right there, we are going to have a big retracement. (hopefully, not too big)
  • #9,420
  • Jul 24, 2007 11:04pm Jul 24, 2007 11:04pm
price may retrace to 247.60 area but I dont adivse for scalpers to take postions. Not a strong retracemnt. Overall trend is Bearish... and price will go further down towards... 245.
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