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Daily GBP/JPY analysis

  • #10,761
  • Jul 26, 2007 1:21pm Jul 26, 2007 1:21pm
Just to recap:

  1. Auslanco is done trading for the week (and for a good reason...actually 500 reasons)
  2. His trading style does not go against the trend (in other words, he doesn't scalp the retracts)
  3. He never turns a winning trade into a loser
  4. He doesn't enter trades until the indicators line up on the D & 4h, then he enters on the lineup of the 1h

Yet, many are asking him for advice on how to break his rules. Sounds like a recipe for disaster.

  • #10,762
  • Jul 26, 2007 1:21pm Jul 26, 2007 1:21pm
The Hour chart has good strength, the 4h and daily are still bearish, I am going to let this 100 pip pass. But I will be in @ 242.75 small positions.http://www.forexfactory.com/images/icons/icon4.gif
  • #10,763
  • Jul 26, 2007 1:22pm Jul 26, 2007 1:22pm
should be support at 243.00
  • #10,764
  • Jul 26, 2007 1:23pm Jul 26, 2007 1:23pm
yeee-hawww, put on a pot of coffee, because we are going to be riding this rollercoaster all day and all night.
  • #10,765
  • Jul 26, 2007 1:23pm Jul 26, 2007 1:23pm
Quoting bravado
take profit @243.10.

all gj short position $cashed$.
another 100 pip drop maybe around the corner.
but i'm not risking all the profits i just got for maybe's.
BAM BAM BOOM! -bravado
  • #10,766
  • Jul 26, 2007 1:25pm Jul 26, 2007 1:25pm
Quoting proctorforex
Now that did make me smile.......so unkind tho:
he is right, im still learning to analyze charts much better than people.
We leave no soldier behind.
  • #10,767
  • Jul 26, 2007 1:27pm Jul 26, 2007 1:27pm
Quoting bravado
you are correct.
if only you could analyze charts as well as people..
Lol some more.

I only come here these days to see you smart ass comments haha
  • #10,768
  • Jul 26, 2007 1:35pm Jul 26, 2007 1:35pm
Quoting Sniper
Lol some more.

I only come here these days to see you smart ass comments haha
now now. forex is serious business.
BAM BAM BOOM! -bravado
  • #10,769
  • Jul 26, 2007 1:35pm Jul 26, 2007 1:35pm
my target is 241.00
  • #10,770
  • Jul 26, 2007 1:35pm Jul 26, 2007 1:35pm
It will retrace first before going any lower, patience
Trade what you see, not what you think.
  • #10,771
  • Jul 26, 2007 1:39pm Jul 26, 2007 1:39pm
going long @ 243.50.
BAM BAM BOOM! -bravado
  • #10,772
  • Jul 26, 2007 1:39pm Jul 26, 2007 1:39pm
I Look forward to reading what you have to say!!!

L.

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.
  • #10,773
  • Jul 26, 2007 1:39pm Jul 26, 2007 1:39pm
243.10 was a good TP place, well done bravado. I got stopped at BreakEven went for the 243.65 entry on a 1hr chart and it moved 25 pips real quick so I moved the stop to entry.

Then price hit the 243.1 previous resistance and boing.
  • #10,774
  • Jul 26, 2007 1:44pm Jul 26, 2007 1:44pm
Sorry for my unqualified opinion but i'm still new here and want to learn and trade with you.
So we are still in UP trend at GBP/USD 4H and day.Maybe could see 2.0600.
Please correct me if i'm wrong.
  • #10,775
  • Jul 26, 2007 1:44pm Jul 26, 2007 1:44pm
One more round to go down, again?
  • #10,776
  • Jul 26, 2007 1:45pm Jul 26, 2007 1:45pm
Quoting bobblong
243.10 was a good TP place, well done bravado. I got stopped at BreakEven went for the 243.65 entry on a 1hr chart and it moved 25 pips real quick so I moved the stop to entry.

Then price hit the 243.1 previous resistance and boing.
it could go lower. i'll be building some long positions from here though.

someone has target set to 241.00. that's not so far-fetched at this point.
BAM BAM BOOM! -bravado
  • #10,777
  • Jul 26, 2007 1:47pm Jul 26, 2007 1:47pm
lucky for you guys who profited from the drop,...
I had to change to another broker still under processing,....
demoing my new brokers platform,...
Entered Long scalp at 243.26,...
  • #10,778
  • Jul 26, 2007 1:55pm Jul 26, 2007 1:55pm
Quoting karmostaji
My own analysis using fibo retracements, the 50% was just broken (4H chart) and next target might be 242.80 area

Please do your analysis and trade at your own risk, ty
we have reached so quick!!!
Trade what you see, not what you think.
  • #10,779
  • Jul 26, 2007 1:57pm Jul 26, 2007 1:57pm
Scalped a nice 200 pips on GBPJPY shorts today after the break of the beforementioned trendline. I'm getting more confident shorting this monster now.

Buy limits got hit today, the long boat is slowly filling up. looks like we're heading towards 239.80 (38.2% fib of 221-251)
Limit orders to buy until 240 and review the gameplan upon a break of that fib.
  • #10,780
  • Jul 26, 2007 1:58pm Jul 26, 2007 1:58pm
waiting to pick up long @ lower 242 area. if it gets there.
counting on uj to drop to 118 to take gj there.
BAM BAM BOOM! -bravado
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