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Daily GBP/JPY analysis

  • #9,961
  • Jul 25, 2007 8:19pm Jul 25, 2007 8:19pm
Hi Auslanco

Thanks for sharing.
When you mentioned the 50% line in the momentum indicator, are you referring to the default 0.000 horizontial line in the momentum indicator???

I am using VT trader but I am not able to locate the strength indicator.
May you kindly advise where can I locate this indicator??

Thanks!

TSK
  • #9,962
  • Jul 25, 2007 8:25pm Jul 25, 2007 8:25pm
Quoting TSK
Hi Auslanco

Thanks for sharing.
When you mentioned the 50% line in the momentum indicator, are you referring to the default 0.000 horizontial line in the momentum indicator???

I am using VT trader but I am not able to locate the strength indicator.
May you kindly advise where can I locate this indicator??

Thanks!

TSK
sorry it's actually 0.0000 you are right.
  • #9,963
  • Jul 25, 2007 8:30pm Jul 25, 2007 8:30pm
I'm going to take abreak .. will be back @ 5.00 GMT for the news trade... hope to see the price around 247 when I come back...


safe trading everyone.
  • #9,964
  • Jul 25, 2007 9:21pm Jul 25, 2007 9:21pm
Hi guys.. tried to sleep ... but when I heard the price alarm ( i set it for 270.10) jumped off the bed...... looks like some action has started in tokyo..
  • #9,965
  • Jul 25, 2007 9:24pm Jul 25, 2007 9:24pm
picked up a quick 30 pips in that dive, then closed in case it retraced.
  • #9,966
  • Jul 25, 2007 9:25pm Jul 25, 2007 9:25pm
JPY STRENGTHENS SLIGHTLY AS BOJ HAWK NODA SAYS THAT U.S. HOUSING DOWNTURN MAY LAST LONGER THAN EXPECTED

ttn

today bad US housing read will be good for shorts..on GJ
  • #9,967
  • Jul 25, 2007 9:27pm Jul 25, 2007 9:27pm
hi...

Just looking at the 4hr charts and those large swings over the last day or so compared to the rest of the month and previous month...100+pips swings
  • #9,968
  • Jul 25, 2007 9:28pm Jul 25, 2007 9:28pm
Quoting auslanco
JPY STRENGTHENS SLIGHTLY AS BOJ HAWK NODA SAYS THAT U.S. HOUSING DOWNTURN MAY LAST LONGER THAN EXPECTED

ttn

today bad US housing read will be good for shorts..on GJ
I agree, high volatility in stock market today because of poor housing data will probably turn into downturn tomorrow.
  • #9,969
  • Jul 25, 2007 9:28pm Jul 25, 2007 9:28pm
I am going to start loading up at 246.80, with more between 246-246.50
  • #9,970
  • Edited 9:40pm Jul 25, 2007 9:29pm | Edited 9:40pm
Quoting markam
picked up a quick 30 pips in that dive, then closed in case it retraced.

Well done... if the price slowley and steadily go down towards 246.50 the 1 hr will turn to bearish... that means we are back in business for another 200 pips short.
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  • #9,971
  • Jul 25, 2007 9:30pm Jul 25, 2007 9:30pm
Quoting auslanco
Hi guys.. tried to sleep ... but when I heard the price alarm ( i set it for 270.10) jumped off the bed...... looks like some action has started in tokyo..
Not much volume yet though ? Wonder what will happen when volume picks up later....
  • #9,972
  • Jul 25, 2007 9:32pm Jul 25, 2007 9:32pm
Quoting bravado
plutonite is a clueless dirty rat.
i was talking behind your back hoping you would not see it.
as a joke..

shame on you plutonite.


Youre like the evil side of me, every time i shut up about something you guys go ahead and do the dirty work for me. It's just so fun to stay on the side and post smileys.



PS: closed previous entry (246.57) at 247.57, now entering again at 246.96 as price action shows more buying opportunities with less enthusiastic selling than before. May abandon trade on the next 2 or 3 H4 bars if we dont head north again. This looks like an interesting thursday.

Good luck!
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #9,973
  • Jul 25, 2007 9:33pm Jul 25, 2007 9:33pm
hi auslanco and gang!

excellent thread and info, thank you!
getting even a little confirmation with exits and entries can be everything in forex!

auslanco, who do you use for your news feed?
thx
Bring It...
  • #9,974
  • Jul 25, 2007 9:34pm Jul 25, 2007 9:34pm
Quoting Rustyyy
Not much volume yet though ? Wonder what will happen when volume picks up later....
What I have observed over the years... when it finds the volume it follows the trand.. most usually 4hr... when there is no volume it goes on the opposite direction to the trend for a retracement/breather.
  • #9,975
  • Jul 25, 2007 9:36pm Jul 25, 2007 9:36pm
Quoting jules
hi auslanco and gang!

excellent thread and info, thank you!
getting even a little confirmation with exits and entries can be everything in forex!

auslanco, who do you use for your news feed?
thx
trade the news( TTN) service
cheap, reliable and very quick
  • #9,976
  • Jul 25, 2007 9:44pm Jul 25, 2007 9:44pm
hi...


Markam......your loading up...but are they shorts or longs...


Jpy is now running up an upsloping trendline on the 1hr chart.
  • #9,977
  • Jul 25, 2007 9:53pm Jul 25, 2007 9:53pm
Quoting Plutonite

despicable.
http://imagecache2.allposters.com/im...ck-Posters.jpg
BAM BAM BOOM! -bravado
  • #9,978
  • Jul 25, 2007 9:55pm Jul 25, 2007 9:55pm
Except for short-term scalping and retraces, I am only going to be short for a while. I believe we are looking a significant unwinding of the carry trades over the next 6 months.
  • #9,979
  • Jul 25, 2007 10:03pm Jul 25, 2007 10:03pm
Quoting Angler
hi...


Markam......your loading up...but are they shorts or longs...


Jpy is now running up an upsloping trendline on the 1hr chart.


You have to be little carefull when you always try to find a price movemrnt comparison with two pairs and couple them together to make a judgment.. I have seen countless times GBP/JPY going on the oppsotie direction to USD/JPY and GBP/JPY going on the same direction as GBP/USD on a trending and as well as news releases.

Onthis week speacially we have seen a pattern when GBP/USD selling and GBP/JPY try to find it's dips..
  • #9,980
  • Jul 25, 2007 10:05pm Jul 25, 2007 10:05pm
hi...


Yes the unwinding is possible....but they have been saying that a long time now and it just keeps moving up...

It needed a retrace and its had one...not large but still...I would think if it starts to unwind it wont be a slow process...the price will have some decent moves down, This move doesn't really have the steam up for a big push down based on unwinding...not yet anyways
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