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Daily GBP/JPY analysis

  • #9,861
  • Jul 25, 2007 12:27pm Jul 25, 2007 12:27pm
Quoting DR.ich

now if we can find a chart that shows the ratio of "active" long short ratios..then that would be a tool to gauge if the buying pressure is building up to move the price up....

you are rigth.... true.
that's why you have to see the graph with the open orders graph together...

The graph show statistics on open orders, including limit orders, S/L and T/P orders.
Attached Image (click to enlarge)
Click to Enlarge Name: open orders.jpg Size: 46 KB
  • #9,862
  • Jul 25, 2007 12:32pm Jul 25, 2007 12:32pm
246.50 is being threatened again. Could see a sharp drop this time.
  • #9,863
  • Jul 25, 2007 12:48pm Jul 25, 2007 12:48pm
this time, the drop seems to be disturbingly persistent with no sign of letting up...
  • #9,864
  • Jul 25, 2007 1:01pm Jul 25, 2007 1:01pm
Quoting bravado

i mean.. "short GJ".. ? come on..
i mean.. really..
bravado. Where are you hiding. You have to make some pips soon or you'll lose your crown. King of the B/S

Gone to a better place
  • #9,865
  • Jul 25, 2007 1:01pm Jul 25, 2007 1:01pm
Point of reference only: Looks like all is quiet for now at least until the Asian session begins. The U/J is now hovering in a holding pattern, taking a breather from its fall from grace, however I do expect some more test to the recent lows in the 119.80's. The same applies to the GU which is hovering and may settle upward towards its recent resistance at 2.0530. If these numbers can be realized (big IF) we should see the GY push below that 200ema to around the 246.00 level. Average daily range for a wednesday is 220 pips so with todays high at 248.09 that would put a hypothetical low at 245.83. These are only averages and are wide open for scrutiny, but like I said, a point of reference only. In the end I see this pair touching into the 245's if the 200ema can be busted on a close, but I do believe this pairs downward movement is nearing its run and can see upward momentum resuming on the grande scale. Either way I dont really get into picking tops and bottoms on this pair or the GU and UJ for that matter, I play the swings both ways when momentum takes a hold and dictates the 4hr TF trend. I am presently in a short but have shedded >50% of my positions at key levels. Another point for newbies to this pair, wed., thurs., and Fri. are the most volatile for this pair, so the rest of the week could tell the tale. Happy trading to all.
Cheers,
NP
  • #9,866
  • Jul 25, 2007 1:08pm Jul 25, 2007 1:08pm
Quoting smikester
bravado. Where are you hiding. You have to make some pips soon or you'll lose your crown. King of the B/S

i am professional! a tru pro.
not the king of the B/S...

and a gentleman.

so wipe that smirk off your face smikester.

edit: added that i'm also a gentleman and took out the word 'please'.
BAM BAM BOOM! -bravado
  • #9,867
  • Jul 25, 2007 2:15pm Jul 25, 2007 2:15pm
And cable and eur/jpy... \\\\\\\\wonder what it means?
Gone to a better place
  • #9,868
  • Jul 25, 2007 2:59pm Jul 25, 2007 2:59pm
Dear Colleagues

I am new to trading, doing it just for 5 months now and ever since I started I jupmped straight to G/Y attracted by its high volatility and profit opportunities. Ever since, I've been watching this pair and its development but I am a weak Tech Analyser and I am glad that there is people here sharing their experience with the rest of us.

I wanna share something that probabbly all of you know already but I will say it anyways. When J falls against the Eur, it fails against all other major currencies. The only JPY cross that is not under this influence is the U/J.

These are my observations. Please correct me if I am wrong.

And my question: Where is G/Y going now?
  • #9,869
  • Jul 25, 2007 3:01pm Jul 25, 2007 3:01pm
Quoting LuckyLooser
Dear Colleagues

I am new to trading, doing it just for 5 months now and ever since I started I jupmped straight to G/Y attracted by its high volatility and profit opportunities. Ever since, I've been watching this pair and its development but I am a weak Tech Analyser and I am glad that there is people here sharing their experience with the rest of us.

I wanna share something that probabbly all of you know already but I will say it anyways. When J falls against the Eur, it fails against all other major currencies. The only JPY cross that is not under this influence is the U/J.

These are my observations. Please correct me if I am wrong.

And my question: Where is G/Y going now?
i have observed that in the past but lately gj has been in tandem with uj.
  • #9,870
  • Jul 25, 2007 3:04pm Jul 25, 2007 3:04pm
Quoting TacitTrader
i have observed that in the past but lately gj has been in tandem with uj.
How about E/J, AUD/J and CAD/J?
  • #9,871
  • Jul 25, 2007 3:06pm Jul 25, 2007 3:06pm
No,when uj up the gj up too.










Quoting LuckyLooser
Dear Colleagues

I am new to trading, doing it just for 5 months now and ever since I started I jupmped straight to G/Y attracted by its high volatility and profit opportunities. Ever since, I've been watching this pair and its development but I am a weak Tech Analyser and I am glad that there is people here sharing their experience with the rest of us.

I wanna share something that probabbly all of you know already but I will say it anyways. When J falls against the Eur, it fails against all other major currencies. The only JPY cross that is not under this influence is the U/J.

These are my observations. Please correct me if I am wrong.

And my question: Where is G/Y going now?
Sorry about my english...
  • #9,872
  • Jul 25, 2007 4:11pm Jul 25, 2007 4:11pm
Lets see if I got this one right..

Since I'm new, I don't really have a system. I'm trying to develop one now. But from what I'm seeing and also with my 5th grade math skills, it looks like it might hit 247.60/70 before it heads back down. But looking at the day indicator it looks like a reversal pattern that can also mark a top or strong resistance level. This set off an alarm for me, I don't see the necessary momentum to keep the price rising. Am I right or do I need to quit reading so much?
  • #9,873
  • Jul 25, 2007 4:25pm Jul 25, 2007 4:25pm
If you are new:

  1. Do not trade this pair until you gain experience with a live account, money management and a profitable, less volitile, pair
  2. Prepare to lose everything you risk until you master #1

Sorry if this is patronizing but it is true. Experienced traders (except Bravado ) have all been down that path early on.

  • #9,874
  • Jul 25, 2007 4:28pm Jul 25, 2007 4:28pm
Quoting JDAMv3
Lets see if I got this one right..

Since I'm new, I don't really have a system. I'm trying to develop one now. But from what I'm seeing and also with my 5th grade math skills, it looks like it might hit 247.60/70 before it heads back down. But looking at the day indicator it looks like a reversal pattern that can also mark a top or strong resistance level. This set off an alarm for me, I don't see the necessary momentum to keep the price rising. Am I right or do I need to quit reading so much?
Am I right or am I not: This is the question.

There is a 50/50 chance of you being right or wrong. I spent long nights in the casino to realize it)
  • #9,875
  • Jul 25, 2007 4:34pm Jul 25, 2007 4:34pm
Quoting JDAMv3
Lets see if I got this one right..

Since I'm new, I don't really have a system. I'm trying to develop one now. But from what I'm seeing and also with my 5th grade math skills, it looks like it might hit 247.60/70 before it heads back down. But looking at the day indicator it looks like a reversal pattern that can also mark a top or strong resistance level. This set off an alarm for me, I don't see the necessary momentum to keep the price rising. Am I right or do I need to quit reading so much?
I think it's worse than that, even. We could be heading for a period of consolidation. Our only hope is the Asian session which starts in the next hour or two. Maybe they can take a lead...

Just my opinion.
Gone to a better place
  • #9,876
  • Jul 25, 2007 4:39pm Jul 25, 2007 4:39pm
Quoting LuckyLooser
Am I right or am I not: This is the question.

There is a 50/50 chance of you being right or wrong. I spent long nights in the casino to realize it)
Pairs can move up, down & sideways. Your chance of being right is 33.333%.

Up + Down = sideways
  • #9,877
  • Jul 25, 2007 4:58pm Jul 25, 2007 4:58pm
Quoting Al_Have1
Pairs can move up, down & sideways. Your chance of being right is 33.333%.

Up + Down = sideways
Prices only go up or down. The sideways move is associated with the graphical represntation of time
  • #9,878
  • Edited Jul 26, 2007 1:43am Jul 25, 2007 5:02pm | Edited Jul 26, 2007 1:43am
Well we're stuck on 200 ma and above you can see where we were stuck on the 89ma.

A convincing break of the 200 will give us a short opportunity.

This the 4 hour chart, GBP/JPY
Attached Image
Gone to a better place
  • #9,879
  • Jul 25, 2007 5:24pm Jul 25, 2007 5:24pm
Quoting LuckyLooser
Prices only go up or down. The sideways move is associated with the graphical represntation of time
Prices DO NOT go up or down without time. You have to include time because it is a variable. It is not with most gambling. No time=no movement=no win.
In other words, lets say you flip a coin and bet long. Here are your possible outcomes:

  1. It goes straight up, you win
  2. It goes straight down, you lose
  3. It goes sideways (up then down or down then up), you probably lose

Odds: 33%. If you don't believe me, try it. I'll be glad to take your money.

Tech analysis & money management will strongly increase your odds.

  • #9,880
  • Jul 25, 2007 5:27pm Jul 25, 2007 5:27pm
Quoting bravado
goodness that "A" guy is gone.

what a mind job.. him.
i got to give you guys the props for playing up to that for this long.

truly amazing performance on all of you.
you guys get the academy award. made it look real too.

..
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
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