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Daily GBP/JPY analysis

  • #10,721
  • Jul 26, 2007 11:47am Jul 26, 2007 11:47am
Quoting spin703
Can someone explain how to change my 4hr. candles so that they can begin @ 4est. PM instead of 6 est.pm. Thanks in advance.
Use another broker. You can't change that from MT4.
  • #10,722
  • Jul 26, 2007 11:47am Jul 26, 2007 11:47am
A,

If you really are interested in participating and assisting some of us newer guys, I really think it would be a good idea if you set up a journal for next week.

you have been great this week, and you are animal for putting in the hours. Thanks
  • #10,723
  • Jul 26, 2007 11:47am Jul 26, 2007 11:47am
Quoting Linuxist
So this movement is a reversal. As opposed to a retracement of the gains this pair has been experiencing for months???

Please Advise.

L.

I initially thought this could be a typical monthly cycle retracemnt of the carry trades...but its seeming to be a carry trade unwinding which could result in a 1000-1500 pip bareish ralley before it shoots up to 300 area by end of 2007. I will have to study the charts bit more to confirm whether this is a carry trade unwinding or a typical monthly 5oo pip bearish retracement, I will have more info about this by monday.
  • #10,724
  • Jul 26, 2007 11:47am Jul 26, 2007 11:47am
Quoting spin703
Can someone explain how to change my 4hr. candles so that they can begin @ 4est. PM instead of 6 est.pm. Thanks in advance.
You can't. The only way is to change broker.

Mike
  • #10,725
  • Jul 26, 2007 11:48am Jul 26, 2007 11:48am
Quoting spin703
Can someone explain how to change my 4hr. candles so that they can begin @ 4est. PM instead of 6 est.pm. Thanks in advance.
You need to switch brokers.
  • #10,726
  • Jul 26, 2007 11:49am Jul 26, 2007 11:49am
Closed from 243.60 TP 244.30


done for today
  • #10,727
  • Jul 26, 2007 11:50am Jul 26, 2007 11:50am
Also, if you change you mind about playing some more this week, I predict the asian and european markets will be interesting.
  • #10,728
  • Jul 26, 2007 11:51am Jul 26, 2007 11:51am
Quoting ovidiu
Just to make conversation, and hope not to anoy anyone with my silly questions, but this retracement is due to end on the 5SMA for the H4? that is if I got it right be staying al this long on this thread this last week...
you are right.. retracement has started and it wont go south anymore..so collect you target @ or close to 5 SMA of 4hr... it will take a while but it will get there... but also be carefull as you are going against the trend.. Just cover your daily losses.. if there any and get out of it.
  • #10,729
  • Jul 26, 2007 11:53am Jul 26, 2007 11:53am
Quoting auslanco
I initially thought this could be a typical monthly cycle retracemnt of the carry trades...but its seeming to be a carry trade unwinding which could result in a 1000-1500 pip bareish ralley before it shoots up to 300 area by end of 2007. I will have to study the charts bit more to confirm whether this is a carry trade unwinding or a typical monthly 5oo pip bearish retracement, I will have more info about this by monday.

Glad there is somebody who has the same target (300) as I do.

So you better be long when this thing decides to start running...

People think I'm nuts
  • #10,730
  • Jul 26, 2007 11:53am Jul 26, 2007 11:53am
Quoting markam
Also, if you change you mind about playing some more this week, I predict the asian and european markets will be interesting.
I need to take a break on friday markam... I have to find time to spend the money I make from trading as welll... before my wife spend it all: dont you think??
  • #10,731
  • Jul 26, 2007 11:55am Jul 26, 2007 11:55am
Quoting bballfan31
Glad there is somebody who has the same target (300) as I do.

So you better be long when this thing decides to start running...

People think I'm nuts

LOL... we shall do that when it's turn bullish.
  • #10,732
  • Jul 26, 2007 12:01pm Jul 26, 2007 12:01pm
Quoting auslanco
you are right.. retracement has started and it wont go south anymore..so collect you target @ or close to 5 SMA of 4hr... it will take a while but it will get there... but also be carefull as you are going against the trend.. Just cover your daily losses.. if there any and get out of it.
Auslanco,

Since you are not showed up Friday, and
I am planning to still short at the top of the retracement, 245.3oish.

So, need to find out by you mean, "you are right.. retracement has started and it wont go south anymore.."

Did you mean temperarily don't go south before retracement is done, or we are reversal from here?
  • #10,733
  • Jul 26, 2007 12:02pm Jul 26, 2007 12:02pm
I think i'll have to hold on till the asian market. I am getting worried about the magnitude the NZD Trading balance will have on NZD/USD. There's a great rally against NZD during today's market and i'm still looking up to what will happen in the asian session.

If anybody have another currency pair that will produce a big move, please share the idea with us.
  • #10,734
  • Jul 26, 2007 12:02pm Jul 26, 2007 12:02pm
Quoting auslanco
dont take this GBP/JPY position unless you are a experience scalper because you are going against the trend... very dangerous....
we will make 1900 pips by going with the trend within next one month for your your -19 loss.
do you mean GJ will go down by 1900 pips?
  • #10,735
  • Jul 26, 2007 12:11pm Jul 26, 2007 12:11pm
Quoting hycebee
I think i'll have to hold on till the asian market. I am getting worried about the magnitude the NZD Trading balance will have on NZD/USD. There's a great rally against NZD during today's market and i'm still looking up to what will happen in the asian session.

If anybody have another currency pair that will produce a big move, please share the idea with us.
With the S.P. down 33, all of the Asian and Oceania markets will be reacting in a big way. I am looking for alot of movement in AUD, NZD, and JPY. But if you want to know which way they are going, ask a pro like Bravado.
  • #10,736
  • Jul 26, 2007 12:11pm Jul 26, 2007 12:11pm
Quoting trader8686
Auslanco,

Since you are not showed up Friday, and
I am planning to still short at the top of the retracement, 245.3oish.

So, need to find out by you mean, "you are right.. retracement has started and it wont go south anymore.."

Did you mean temperarily don't go south before retracement is done, or we are reversal from here?
I meant for this four hours... but here's the risk.... this bear has maxed up if it's just a monthly cycle retracement of the carry trade. if it's unwinding it will go further 1000 pips down..if it goes for another 1000 pips down this could retrace towards 246+ area. therefor We may have a better entry in next week than 245..... to go short again.
  • #10,737
  • Jul 26, 2007 12:12pm Jul 26, 2007 12:12pm
Quoting auslanco
..its seeming to be a carry trade unwinding..
don't be ridiculous.
BAM BAM BOOM! -bravado
  • #10,738
  • Jul 26, 2007 12:14pm Jul 26, 2007 12:14pm
Quoting bravado
don't be ridiculous.
lol
  • #10,739
  • Jul 26, 2007 12:15pm Jul 26, 2007 12:15pm
Quoting razergold
do you mean GJ will go down by 1900 pips?

It aint matter whether it goes up or down.. If we catch the trend at the beggining we only need 5 trades a month to achieve 2000 pips.. this is what I do for a living every day ... catching trends at the begging
  • #10,740
  • Jul 26, 2007 12:16pm Jul 26, 2007 12:16pm
Quoting auslanco
I initially thought this could be a typical monthly cycle retracemnt of the carry trades...but its seeming to be a carry trade unwinding which could result in a 1000-1500 pip bareish ralley before it shoots up to 300 area by end of 2007. I will have to study the charts bit more to confirm whether this is a carry trade unwinding or a typical monthly 5oo pip bearish retracement, I will have more info about this by monday.
Buddie, crack open the Castlemaine xxxx ( or Fosters), put some extra large shrimps on the barbie and treat your Sheila to a great time ! Enjoy the weekend my Antipodean cousin !
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