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Daily GBP/JPY analysis

  • #10,101
  • Jul 26, 2007 2:11am Jul 26, 2007 2:11am
When is that damn pound going to collapse, I'm tired.
  • #10,102
  • Jul 26, 2007 2:13am Jul 26, 2007 2:13am
Quoting markam
When is that damn pound going to collapse, I'm tired.
its moving now. be patient
  • #10,103
  • Jul 26, 2007 2:13am Jul 26, 2007 2:13am
Quoting markam
When is that damn pound going to collapse, I'm tired.
patient, GJ IS GOING DOWN SOON,LOL
Don't be panic when it's negative
  • #10,104
  • Jul 26, 2007 2:14am Jul 26, 2007 2:14am
Quoting markam
When is that damn pound going to collapse, I'm tired.
I think what is happening is the G/U is arguably in the early phases of a new bear trend, and with all the longs still clinging onto hope after a huge uptrend, they will continue to buy the dips causing quite a few retracements. Patience will be the key until reality hits.
  • #10,105
  • Jul 26, 2007 2:14am Jul 26, 2007 2:14am
Originally Posted by jonws http://www.forexfactory.com/images/buttons/viewpost.gif
Hi auslanco, can you describe more about this bar counting technique? sounds interesting....


Hey.. thats my secret jonows LOL.. it based on 1 min chart... and It's a specific pattern 30 mins before the release...

It sounds like the same strategy that i have been using with counting the bars which is based on fib numbers but not by price
  • #10,106
  • Jul 26, 2007 2:15am Jul 26, 2007 2:15am
Hi Aulscano

At 4.00 GMT+0, I saw the momentum indicator pointing north in the 4hrs chart and pointing south in the 1hr chart.

Price did move south to the next support and rebounce and heading north to 247.45. As you mentioned, 1hr trend will move toward the 4hrs trend.

Now it just moving down, down.. so how shall I interpret the momentum indicator.

Hope to receive your advice.

Thanks

TSK
  • #10,107
  • Jul 26, 2007 2:16am Jul 26, 2007 2:16am
Quoting hycebee
Aussie...

I hope this pair will still retrace to 247.60 before coming down; and I believe this is the best time to go long. What do you think about this?
It's still trying to break through the 200ma, perhaps it needs a bigger run at it. (ie more volume)

Mike
  • #10,108
  • Jul 26, 2007 2:16am Jul 26, 2007 2:16am
dont go short just yet... we shall wait till 8GMT or price breaks through 246.35
  • #10,109
  • Jul 26, 2007 2:20am Jul 26, 2007 2:20am
sorry guys... the FF server is not letting me in ... says server full..
  • #10,110
  • Jul 26, 2007 2:20am Jul 26, 2007 2:20am
Auslanco,

Nice to see people like u here.I'm looking at your posts since Monday.I really respect your work.


Happy trading
  • #10,111
  • Jul 26, 2007 2:21am Jul 26, 2007 2:21am
you're so popular, you overloaded the server.
  • #10,112
  • Jul 26, 2007 2:22am Jul 26, 2007 2:22am
Quoting auslanco
dont go short just yet... we shall wait till 8GMT or price breaks through 246.35
already 8GMT ,right?
Don't be panic when it's negative
  • #10,113
  • Jul 26, 2007 2:23am Jul 26, 2007 2:23am
Quoting auslanco
dont go short just yet... we shall wait till 8GMT or price breaks through 246.35
Agree with you there, watching my 4hr chart with interest.....
  • #10,114
  • Jul 26, 2007 2:23am Jul 26, 2007 2:23am
40 more minutes
  • #10,115
  • Jul 26, 2007 2:24am Jul 26, 2007 2:24am
Quoting TSK
Hi Aulscano

At 4.00 GMT+0, I saw the momentum indicator pointing north in the 4hrs chart and pointing south in the 1hr chart.

Price did move south to the next support and rebounce and heading north to 247.45. As you mentioned, 1hr trend will move toward the 4hrs trend.

Now it just moving down, down.. so how shall I interpret the momentum indicator.

Hope to receive your advice.

Thanks

TSK
if the support breakthrough on this bar will go short.. or else will wait for the new4hr momentum reading @ 8GMT to go short.
  • #10,116
  • Jul 26, 2007 2:24am Jul 26, 2007 2:24am
If the gu goes high enough is it worth putting in another sell?

Mike
  • #10,117
  • Jul 26, 2007 2:24am Jul 26, 2007 2:24am
Quoting Dobin
already 8GMT ,right?
it's 7.24 GMT right now
  • #10,118
  • Jul 26, 2007 2:26am Jul 26, 2007 2:26am
Quoting MikeW
If the gu goes high enough is it worth putting in another sell?

Mike
there will be enough pips downunder even if you eneter below the support..
  • #10,119
  • Jul 26, 2007 2:29am Jul 26, 2007 2:29am
Quoting auslanco
there will be enough pips downunder even if you eneter below the support..
I meant on the GBPUSD

Mike
  • #10,120
  • Jul 26, 2007 2:29am Jul 26, 2007 2:29am
if we get a good momentum reading @ 8GMT that will give enough firepower to go down all the way to 245 or below before the next 100 pip retracement.
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