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Daily GBP/JPY analysis

  • #10,121
  • Jul 26, 2007 2:30am Jul 26, 2007 2:30am
Quoting Dobin
already 8GMT ,right?
We are now in BST which is 1 hour ahead of GMT so 9am is 8GMT.
  • #10,122
  • Jul 26, 2007 2:32am Jul 26, 2007 2:32am
Quoting forexrules
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.
On the GBP/JPY I'm wondering if that explains the interesting saw tooth pattern on the hourly, and the "piano keys" on the 4 hourly. (You may be able to tell I'm not a musician). I've seen this before, but not so pronounced. It looks like dip orders that fail.
Gone to a better place
  • #10,123
  • Jul 26, 2007 2:32am Jul 26, 2007 2:32am
Quoting MikeW
I meant on the GBPUSD

Mike

I suggest you to stay with your current order otherwise it will be too much loading on one pair.. still you are not too far away from your initial entry..
  • #10,124
  • Jul 26, 2007 2:32am Jul 26, 2007 2:32am
Quoting auslanco
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.
Do you think that the BBA mortgage approvals number will have more impact than the yellow (low) rating given, which comes out at 8.30 GMT?
  • #10,125
  • Jul 26, 2007 2:34am Jul 26, 2007 2:34am
Guys there seems to be a problem with GMT...its 8.34....now.
  • #10,126
  • Jul 26, 2007 2:34am Jul 26, 2007 2:34am
Quoting auslanco
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.
On the hourly chart draw a line linking yesterdays highs and extend into today. Yesterdays resisitance is todays support - so far, so when we break and hold below this line I will go short.
  • #10,127
  • Jul 26, 2007 2:34am Jul 26, 2007 2:34am
Quoting auslanco
I suggest you to stay with your current order otherwise it will be too much loading on one pair.. still you are not too far away from your initial entry..
I think the G/U is one of the toughest pairs to trade. It has a knack for defying everyone.
  • #10,128
  • Jul 26, 2007 2:38am Jul 26, 2007 2:38am
Quoting glenn5t
Guys there seems to be a problem with GMT...its 8.34....now.
It is 8.34 BST and 7.34 GMT.........
  • #10,129
  • Jul 26, 2007 2:38am Jul 26, 2007 2:38am
The 200ma appears to be holding...
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  • #10,130
  • Jul 26, 2007 2:39am Jul 26, 2007 2:39am
Dont forget daylight saving.....have a look at FF....the time on our post is in GMT.
  • #10,131
  • Jul 26, 2007 2:41am Jul 26, 2007 2:41am
Quoting angiegiles00
Do you think that the BBA mortgage approvals number will have more impact than the yellow (low) rating given, which comes out at 8.30 GMT?
I just checked some of the previous moves for this.. it's a 1 star news event.. shouldnt have a big impact on the pair.
  • #10,132
  • Jul 26, 2007 2:42am Jul 26, 2007 2:42am
Quoting auslanco
I suggest you to stay with your current order otherwise it will be too much loading on one pair.. still you are not too far away from your initial entry..
Yeah, minus 12 at the moment. I thought I could get a better entry price if I go again a bit higher. Guess I'm just being greedy - trying to get back some lost dollars!

Mike
  • #10,133
  • Jul 26, 2007 2:44am Jul 26, 2007 2:44am
Quoting auslanco
I just checked some of the previous moves for this.. it's a 1 star news event.. shouldnt have a big impact on the pair.
Thanks.....

I was just wondering given how the markets are tipped at the moment.....
  • #10,134
  • Edited 3:02am Jul 26, 2007 2:46am | Edited 3:02am
oanda open orders....
see at 246.00 there are more buy orders than sell... until then. there also more buyers than sellers... maybe losers
245.00 could be a breakpoint.... and 242.5 could be a bigger breakpoint to sell.....

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  • #10,135
  • Jul 26, 2007 2:48am Jul 26, 2007 2:48am
Quoting emda
oanda open orders....
see at 246.00 there are more buy orders than sell... until then. there also more buyers than sellers... maybe losers
245.00 could be a breakpoint.... and 242.5 could be a bigger breakpoint to sell.....
These are based on Oanda reatail traders... They are not the market movers...so this info is not very accurate..
  • #10,136
  • Jul 26, 2007 2:50am Jul 26, 2007 2:50am
does it concern anyone that the GBP/USD has barly moved and on the GBP/JPY it has a range already of 100 pips using a 12 est bar
  • #10,137
  • Jul 26, 2007 2:54am Jul 26, 2007 2:54am
Quoting PipJunkie
does it concern anyone that the GBP/USD has barly moved and on the GBP/JPY it has a range already of 100 pips using a 12 est bar
means big move next.
Don't be panic when it's negative
  • #10,138
  • Jul 26, 2007 2:55am Jul 26, 2007 2:55am
Quoting auslanco
These are based on Oanda reatail traders... They are not the market movers...so this info is not very accurate..
of course... but it's some stats...
better than nothing...
  • #10,139
  • Jul 26, 2007 2:59am Jul 26, 2007 2:59am
Quoting emda
of course... but it's some stats...
better than nothing...

It's indeed... Just didnt want any newbies watching here to get panicked..
  • #10,140
  • Jul 26, 2007 3:02am Jul 26, 2007 3:02am
tje,

I was trying to catch up with the thread, but with 25 pages I gave up.

Attached the daily chart I'm looking at. I see trendlines coming together at 246.40. Notice the similarity with the 6-8 bullrun.
I'm looking for a bounce of the trendlines to add more longs.

I guess we're consolidating untill auslanco's indicators turn bullish and than the combined buying power of the thread members will push this monster up beyond previous highs.
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