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Daily GBP/JPY analysis

  • #11,541
  • Jul 27, 2007 6:35am Jul 27, 2007 6:35am
Quoting hard1head1
What messenger do we need to download, AUS?

Jim
Yahoo Messenger
Trade what you see, not what you think.
  • #11,542
  • Jul 27, 2007 6:35am Jul 27, 2007 6:35am
Quoting musicman007
I see next target down as 240.60 and then 240.36 after that - long shot at 239.50
mind sharing how you derived those...im clueless...might decide on a dollar target...but we all want to maximize gains
"it doesn't come any sharper than this!"
  • #11,543
  • Jul 27, 2007 6:36am Jul 27, 2007 6:36am
Quoting auslanco
there's is a risk of retracement up to 241.40ishh... if you are short watch out
5SMA on 30m chart? I found that.. is that what you are seeing bro?
Trade what you see, not what you think.
  • #11,544
  • Jul 27, 2007 6:38am Jul 27, 2007 6:38am
Quoting auslanco
dont you love this pair on the other hand if you on the wrong side of the trade...hmmm
Love it, and hate it - have been on the wrong side once.. had to humor myself for a good 24 hours to make sure I would live.. basically that's when you tell yourself 'Thank God at least I still have food to eat..'
  • #11,545
  • Jul 27, 2007 6:38am Jul 27, 2007 6:38am
Ausssiemate, I am going out this afternoon so will miss the action but will sent an entry short at 240.40 with a of maybe 150 pips and a +50sl. IF the US data is good we should be ok, my only concern is how much of it is already being priced in in these latest moves. Any thoughts bud?
  • #11,546
  • Jul 27, 2007 6:39am Jul 27, 2007 6:39am
My Fibo also points to the next stop down at 240.35.
  • #11,547
  • Jul 27, 2007 6:39am Jul 27, 2007 6:39am
Quoting DR.ich
mind sharing how you derived those...im clueless...might decide on a dollar target...but we all want to maximize gains
Good old fibs Im afraid on last run up. These are extensions downward.
  • #11,548
  • Jul 27, 2007 6:40am Jul 27, 2007 6:40am
Getting ready to retrace...
  • #11,549
  • Jul 27, 2007 6:41am Jul 27, 2007 6:41am
Quoting keramikus
My Fibo also points to the next stop down at 240.35.
Yeah, sorry about that, on reflection I should be at 20 so thanks for pointing that out !
  • #11,550
  • Jul 27, 2007 6:41am Jul 27, 2007 6:41am
Quoting karmostaji
5SMA on 30m chart? I found that.. is that what you are seeing bro?
  • #11,551
  • Jul 27, 2007 6:42am Jul 27, 2007 6:42am
Just checking my chart and found out that I've missed a lot!!!

This is too bad for me because I was looking up to cover my losses today. Please is there still any hope for today's market? Are you still going to give your signal by 08:15est? What is the hottest trade I can join? Please let me know.
  • #11,552
  • Jul 27, 2007 6:43am Jul 27, 2007 6:43am
Quoting karmostaji
5SMA on 30m chart? I found that.. is that what you are seeing bro?
That also lines up with a 38.3 fib retrace level so makes even more sense now .
  • #11,553
  • Jul 27, 2007 6:43am Jul 27, 2007 6:43am
is any one watching usd/cad?i've been hanging all around...
  • #11,554
  • Jul 27, 2007 6:43am Jul 27, 2007 6:43am
Quoting auslanco
dont you love this pair on the other hand if you on the wrong side of the trade...hmmm
heheheh, long since 248, added down until 241 : . Building a nice long block

Took some quick shorts this morning in both AUDJPY and GBPJPY for some 80 pips. Thanks "A", thanks to you I regained confidence to short this monster. Right now I'm net short (hedge + 2 additional lots short) since 242.31. Going flat before the news and might keep the hedge on over the weekend.
  • #11,555
  • Jul 27, 2007 6:44am Jul 27, 2007 6:44am
Right now I am wondering, how much more donwside abuse can GJ take regarding the recent lows it has taken and considering it is Friday...
  • #11,556
  • Jul 27, 2007 6:45am Jul 27, 2007 6:45am
Quoting keramikus
Right now I am wondering, how much more donwside abuse can GJ take regarding the recent lows it has taken and considering it is Friday...
239.60 area is on the table still, 38.2% fibo on my daily chart
Trade what you see, not what you think.
  • #11,557
  • Jul 27, 2007 6:46am Jul 27, 2007 6:46am
Quoting musicman007
Yeah, sorry about that, on reflection I should be at 20 so thanks for pointing that out !
sorry to bother but from what point to point did you use in drawing this fib...i can't find my bearing!!?
"it doesn't come any sharper than this!"
  • #11,558
  • Jul 27, 2007 6:48am Jul 27, 2007 6:48am
Quoting karmostaji
239.60 area is on the table still, 38.2% fibo on my daily chart
personally, if u treat 2007/6/8 low as starting of the ending diagnoal wave, this beast can retrace 100% to where it started ... i.e. 237.60 area
  • #11,559
  • Jul 27, 2007 6:51am Jul 27, 2007 6:51am
Quoting musicman007
That also lines up with a 38.3 fib retrace level so makes even more sense now .
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  • #11,560
  • Jul 27, 2007 6:51am Jul 27, 2007 6:51am
btw, plz update me with latest status !!
just came back from work ;( lost the whole day of fun
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