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Daily GBP/JPY analysis

  • #9,581
  • Jul 25, 2007 1:59am Jul 25, 2007 1:59am
Check out the daily momentum with a red arrow on the bottom.. All ready to shoot down another 200 pips... .. May be in NY session...
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  • #9,582
  • Jul 25, 2007 2:00am Jul 25, 2007 2:00am
it's far from the pivot and 30, 50 and 100 moving averages... it should have retraced up more... but not.. so I think it is still a signal of bearish... but it has to range a little to breath... an continue down to the trendlines of the channel.....

just throwing some thoughts...
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  • #9,583
  • Jul 25, 2007 2:01am Jul 25, 2007 2:01am
Ok fellows... we may see a little down shoot now
  • #9,584
  • Jul 25, 2007 2:04am Jul 25, 2007 2:04am
Quoting auslanco
next hour is going to be very interesting
What are scenarios that you see may happen?

I would assume that folks use 50% of their accounts could unload gradually, get $ back and keep run up and down the highways (Zamann coins this terms, I believe) 246.2 to 270.xx (? I lose track of #) buy and sell as long as the price does not become bullish, i.e above 249.xx??.

Thanks for your clarification. BR
  • #9,585
  • Jul 25, 2007 2:07am Jul 25, 2007 2:07am
Quoting auslanco
Ok fellows... we may see a little down shoot now
just wake up and it will shoot 245.70
Don't be panic when it's negative
  • #9,586
  • Jul 25, 2007 2:09am Jul 25, 2007 2:09am
Quoting MikeW
You seem to have a very good feel for this pair. I entered at 247.14 on my real account - would you recommend me staying in or getting out with a small profit now as it's too early to move my stop down.

Thanks for your help, I hope we hear a lot more from you in this section.

regards

Mike
I would suggest you to bring down your SL to entry...or If your daily target is covered you can close @ a suitable price with a profit... I wouldnt be soo vague if i see a good momentum pointing down on this 4hr bar.. As I have mentiond before my target is 245.20... But I also can handle a 100 pips shoot up from here...without any issues before it's reaching my target. I will leave it up to you to make a judgement..
  • #9,587
  • Jul 25, 2007 2:13am Jul 25, 2007 2:13am
I see the Eur and Cable are starting to climb back up on the newly opened 4 hr candle so it looks like the norm will resume...

Glenn
  • #9,588
  • Jul 25, 2007 2:22am Jul 25, 2007 2:22am
Guys.. There is massive dark cloud over the financial sector in the world... I'm just listing to the Bloomberg and according to some analysts, the financial market is going to crash down in the coming months all over the world.. hmmm... opportunity for us or a dissater on it's way
  • #9,589
  • Jul 25, 2007 2:24am Jul 25, 2007 2:24am
remember what Soros did in 1992 to the GBP ?
we are now more or less... at the same price level... will Soros do it again? 5000 pip move down? heh
  • #9,590
  • Jul 25, 2007 2:24am Jul 25, 2007 2:24am
Quoting auslanco
I would suggest you to bring down your SL to entry...or If your daily target is covered you can close @ a suitable price with a profit... I wouldnt be soo vague if i see a good momentum pointing down on this 4hr bar.. As I have mentiond before my target is 245.20... But I also can handle a 100 pips shoot up from here...without any issues before it's reaching my target. I will leave it up to you to make a judgement..
Thanks aus. My MM can handle a 100 pip loss so I'll ride it further towards the 245 mark. I'm a bit concerned of the price bouncing off the 4hour 200ma. If it does bounce do you see this as only a temporary setback or would that be a sign to exit?

regards

Mike
  • #9,591
  • Jul 25, 2007 2:25am Jul 25, 2007 2:25am
Quoting auslanco
Guys.. There is massive dark cloud over the financial sector in the world... I'm just listing to the Bloomberg and according to some analysts, the financial market is going to crash down in the coming months all over the world.. hmmm... opportunity for us or a dissater on it's way
"Wei-Ji" the Chinese word for "crisis", is the same as that for "opportunity".
  • #9,592
  • Jul 25, 2007 2:26am Jul 25, 2007 2:26am
auslanco

Thanks for that, not really surprised, when you have all the stockmarkets are the world on all time high's and all cross pairs USD at 20 and 25 year highs...Something's got to give.


Glenn
  • #9,593
  • Jul 25, 2007 2:29am Jul 25, 2007 2:29am
Quoting auslanco
Guys.. There is massive dark cloud over the financial sector in the world... I'm just listing to the Bloomberg and according to some analysts, the financial market is going to crash down in the coming months all over the world.. hmmm... opportunity for us or a dissater on it's way
I hope that we don't get to that! Lot of people will be in trouble...
  • #9,594
  • Jul 25, 2007 2:34am Jul 25, 2007 2:34am
MIKEW>>>

It will be temp set back.. what you will see is price might retrace back to 247.20ish area and give it another go.... but on the seconed attempt it will be US sessions and I assume the US session will have another big sell of like yeaterday... so it look good so far... the bear trend is too strong to go shoot north. This resistance level will be broken pretty soon ..
  • #9,595
  • Jul 25, 2007 2:36am Jul 25, 2007 2:36am
thanks to all of you guys for a very fruitful discussions...sharing of your talents... skills and hardwork...

thanks for giving me back my money...
  • #9,596
  • Jul 25, 2007 2:37am Jul 25, 2007 2:37am
Quoting auslanco
Guys.. There is massive dark cloud over the financial sector in the world... I'm just listing to the Bloomberg and according to some analysts, the financial market is going to crash down in the coming months all over the world.. hmmm... opportunity for us or a dissater on it's way
Isn't Bonsai visiting you guys over in WA? Ask him, he'll promise to save the world... if we vote him back in! :surprised
  • #9,597
  • Jul 25, 2007 2:37am Jul 25, 2007 2:37am
Yes the second half of the NY session has sold off for the last few days...

Glenn
  • #9,598
  • Jul 25, 2007 2:37am Jul 25, 2007 2:37am
i think you mean support?
  • #9,599
  • Jul 25, 2007 2:38am Jul 25, 2007 2:38am
auslanco

just woundering what you think about the housing data it is expected to be bad for the usd do you think there will be any affect or will it just be ignored. I would think it would push the GBP/USD up which would bring the GBP/JPY up with it. Just woundering your thoughts
  • #9,600
  • Jul 25, 2007 2:41am Jul 25, 2007 2:41am
Quoting gr8collector
i think you mean support?
SORRY... SUPPORT.. thanks collector
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