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Daily GBP/JPY analysis

  • #10,341
  • Jul 26, 2007 7:02am Jul 26, 2007 7:02am
Does anyone know how we can start a thread for "Auslanco" exclusively ?
  • #10,342
  • Jul 26, 2007 7:03am Jul 26, 2007 7:03am
people who want to catch the retracement be very careful... this is a weak retracement..
  • #10,343
  • Jul 26, 2007 7:04am Jul 26, 2007 7:04am
Just one word of warning folks.

This is the last week of trading for many institutional traders before the summer break. I would not be surprised some profit taking occurring across the board, specially in pairs that have been trending nicely throughout the last few months (such as JPY crosses).

Be VERY careful if trading in august.
  • #10,344
  • Jul 26, 2007 7:05am Jul 26, 2007 7:05am
Quoting WTB
Just one word of warning folks.

This is the last week of trading for many institutional traders before the summer break. I would not be surprised some profit taking occurring across the board, specially in pairs that have been trending nicely throughout the last few months (such as JPY crosses).

Be VERY careful if trading in august.

very good point ..
  • #10,345
  • Jul 26, 2007 7:06am Jul 26, 2007 7:06am
Quoting auslanco
small retracement 50 pips now
I've entered long at 245.29 SL 244.42

Mike
  • #10,346
  • Jul 26, 2007 7:08am Jul 26, 2007 7:08am
hi...

Your not using full lots...?

I noticed that trade on friday was 8 lots @ 248.98 SL @ 250.36 thats 138pips per lot....It seemed a bit big at the time I read it...the Lots I mean.
  • #10,347
  • Jul 26, 2007 7:10am Jul 26, 2007 7:10am
Quoting MikeW
I've entered long at 245.29 SL 244.42

Mike
Mike ... very weakre tracement...close with a 20 pip profit. there is news due in 30 mins... be careful. if anyone havent enetred already please dont.
  • #10,348
  • Jul 26, 2007 7:12am Jul 26, 2007 7:12am
It appears that the retracement is quite narrow (usually goes to 50 or 60 fib). if so, it's going to want to go south even further before finding true bottom.


Quoting auslanco
dont cacth the retracement if you want to go short.. this is going furthey south later
  • #10,349
  • Jul 26, 2007 7:12am Jul 26, 2007 7:12am
I’ve been following this thread al week, reading a strategy with stochastics applied to GBPJPY brought me to this thread and to this incredible rollercoaster ride, I am a newbie as much as I can be, but from now on I know that I’ll be hooked on Forex . I know that GJ is not the exactly perfect for starting to learn how to trade, but still at the end of the week after following you Asulanco I have like +60 pips, after losing something like 250 on GJ alone and wining around 310. The entry points where my call according to Spudfrye’s strategy but the big picture was all your extraordinary feel of the market. I just pray you will still be on this thread for a while so I can learn as mauch as I can from you.
Thank you so much!
  • #10,350
  • Jul 26, 2007 7:13am Jul 26, 2007 7:13am
Quoting Angler
hi...

Your not using full lots...?

I noticed that trade on friday was 8 lots @ 248.98 SL @ 250.36 thats 138pips per lot....It seemed a bit big at the time I read it...the Lots I mean.

Yes I used 8 full lots for this trade... that was just starting with $10000 3 years ago.
  • #10,351
  • Jul 26, 2007 7:14am Jul 26, 2007 7:14am
Which Broker do you use, if I may ask?
  • #10,352
  • Jul 26, 2007 7:15am Jul 26, 2007 7:15am
GBP/JPY is now at or above its average daily range... price has retraced a bit, but not likely price will fall today below the already 244.45

244.45 is right on the trend line and also the 50 fib line from the run up since 237.66
  • #10,353
  • Jul 26, 2007 7:15am Jul 26, 2007 7:15am
Quoting auslanco
Mike ... very weakre tracement...close with a 20 pip profit. there is news due in 30 mins... be careful. if anyone havent enetred already please dont.
Any chance of touching down on the 4H - 365 EMA today?
  • #10,354
  • Jul 26, 2007 7:16am Jul 26, 2007 7:16am
Mike please close you long position.
  • #10,355
  • Jul 26, 2007 7:16am Jul 26, 2007 7:16am
14 minutes to Core Durable Goods
  • #10,356
  • Jul 26, 2007 7:17am Jul 26, 2007 7:17am
Retracement is going too slow for my liking so I exited with just a few of pips, hope you don't mind. But thanks anyway.

Mike
  • #10,357
  • Jul 26, 2007 7:18am Jul 26, 2007 7:18am
price will go down further with G/U . Yankees would love to have a slice of this pie
  • #10,358
  • Jul 26, 2007 7:19am Jul 26, 2007 7:19am
Quoting auslanco
price will go down further with G/U . Yankees would love to have a slice of this pie


Any targets in mind?
  • #10,359
  • Jul 26, 2007 7:19am Jul 26, 2007 7:19am
Quoting MikeW
Retracement is going too slow for my liking so I exited with just a few of pips, hope you don't mind. But thanks anyway.

Mike
Thats great... bad retracement... downward momentum is very strong.
  • #10,360
  • Jul 26, 2007 7:20am Jul 26, 2007 7:20am
GBP going up.. preparing itself for a greater fall?
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