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Daily GBP/JPY analysis

  • #12,101
  • Jul 29, 2007 5:41pm Jul 29, 2007 5:41pm
its acting really weird huh
  • #12,102
  • Jul 29, 2007 5:51pm Jul 29, 2007 5:51pm
just curious about everone's thoughts if this gap is going to get coverd in a reasonable amount of time or not
  • #12,103
  • Jul 29, 2007 6:38pm Jul 29, 2007 6:38pm
I won't go short for now. The pair is probably heading north at some point in the Japan session because of the result of the Japan Upper House election. The Japanese investors will buy on the dips for sure at this level. However, I don't believe that the correction is over. So it'll be safer to go short in the London or NY sessions.
  • #12,104
  • Jul 29, 2007 6:50pm Jul 29, 2007 6:50pm
Quoting ukutrader
I won't go short for now. The pair is probably heading north at some point in the Japan session because of the result of the Japan Upper House election. The Japanese investors will buy on the dips for sure at this level. However, I don't believe that the correction is over. So it'll be safer to go short in the London or NY sessions.
yeah...ummm...i hinestly have no clue as to what this pair is gonna do now...i agree that it has come to a level where people may star buying on dips and thus we may have seen the low of this correction..however the momentum in all time-frames is pretty intimidating for bulls as well....ima stay at the sidelines
"it doesn't come any sharper than this!"
  • #12,105
  • Jul 29, 2007 7:09pm Jul 29, 2007 7:09pm
If you are a position trader looking for a big wave, it's safer to stay on the sidelines at this moment. But I would go long for JPY crosses for now, though i doesn't mean that I recommend everyone going long at this very moment. My trading style is riding a smaller wave to take 10-20 pips, sometimes 30-50 pips profits for one trade. I went long E/J at 160.75 two hours ago when most of people seemed to be expecting it to go down, but I will close it before the London session kicks off. As I said, the correction has not been over yet for the week ahead.

Quoting DR.ich
yeah...ummm...i hinestly have no clue as to what this pair is gonna do now...i agree that it has come to a level where people may star buying on dips and thus we may have seen the low of this correction..however the momentum in all time-frames is pretty intimidating for bulls as well....ima stay at the sidelines
  • #12,106
  • Jul 29, 2007 7:31pm Jul 29, 2007 7:31pm
If you have not seen it, take a look at my Money Management CalcuLog.

http://www.forexfactory.com/showthread.php?t=38909

It may not fit your style, but it is accurate. I am currently trying to learn a decient system. I am part of the PF and the problem is not the information within the forum, it is my interpretation of it.
.............................
Speaking of witch, what do you think about the trend lines and confluence of the current GJ. I am not calling a long here, but it looks like it is hitting a few points of definate support.[/quote]


Que,

I'll have to take some time to look at your MMC. That's an area I should improve in.

Dr. D.
  • #12,107
  • Jul 29, 2007 7:55pm Jul 29, 2007 7:55pm
Quoting Clusterwise
Does your wife know about terminal Impulse ???

Take a look to the leader USDJPY

GBPJPY chart is not ready yet, I will post it as soon as I finish my calculations

Many thanks
pretty. I like it. Its beautiful.

I love FF
Pipology 101 student
  • #12,108
  • Jul 29, 2007 9:11pm Jul 29, 2007 9:11pm
is now a good time to short? looks bearish on all time frames
  • #12,109
  • Jul 29, 2007 9:44pm Jul 29, 2007 9:44pm
Quoting PipBuLL007
is now a good time to short? looks bearish on all time frames
I don't think so. The volume is too low - could go either way.
  • #12,110
  • Jul 29, 2007 10:11pm Jul 29, 2007 10:11pm
Quoting PipBuLL007
is now a good time to short? looks bearish on all time frames
In my 1H chart the MACD is still up, I think we should wait a little bit more.
Ado Whether you believe you can do a thing or not, you are right.
  • #12,111
  • Jul 29, 2007 10:26pm Jul 29, 2007 10:26pm
GJ has been making higher lows for the past 3 1/2 hours, and the volume has been decreasing for the last 5 hours.
  • #12,112
  • Jul 30, 2007 1:46am Jul 30, 2007 1:46am
hi..

Looks like U/J has found a bottom at 118.00...so far

G/U has bounced off support around 2.0180..

To early to tell but I would be expecting some sort of a retrace..

But trading what I see...not the opinion.
  • #12,113
  • Jul 30, 2007 2:08am Jul 30, 2007 2:08am
Quoting monarch
Actually I gave up on my thread because it had become like this thread, a bunch of talk, but no analytical substance.

I had created a thread in January for the sole purpose of Gbp/Usd analysis, but over time the members seen the popularity and began to just post trades and questions that gave way to a flood of nonsense.

The question that I have now is, what thread do I want to hang around in now, it will probably be one that doesn't take me an hour to read about 5% of what I like to read.

So I will give this thread a rest for some time now, as I did with my own.

Farewell to all!

Ken
Sorry to hear your leaving the thread for a while, I for one (and I am sure I'm not the only one) will greatly miss your analysis.

As you can see I don't post much although I have been an avid reader of FF for the best part of two years and always look forward to your expert analysis, both here and previuosly on your cable thread.

I do understand your reasons though, I gave up on the cable thread some time ago just could not keep up lol.

This thread I feel should be back to some sort of normallity now, so I hope you will soon return.

Regards.

Chris.
  • #12,114
  • Jul 30, 2007 4:09am Jul 30, 2007 4:09am
hi...


Oh he may come back now, as all the hype has gone and this thread is back to normal...myself I am sitting out today and waiting to confirm some direction...always pays to be cautious after a move like we have seen the last few days..
  • #12,115
  • Jul 30, 2007 5:43am Jul 30, 2007 5:43am
Quoting Angler
hi...


Oh he may come back now, as all the hype has gone and this thread is back to normal...myself I am sitting out today and waiting to confirm some direction...always pays to be cautious after a move like we have seen the last few days..
Ditto. Low volume/activity is throwing my indies off and got no clear reading on movement. I look forward to more intensity up to friday - gbp IR and usd Nonfarm.
  • #12,116
  • Jul 30, 2007 6:27am Jul 30, 2007 6:27am
from earlier:
Attached Image (click to enlarge)
Click to Enlarge Name: jly 30 1m.jpg Size: 54 KB
Trading Levels with WRBs
  • #12,117
  • Jul 30, 2007 6:30am Jul 30, 2007 6:30am
I think this chart makes it easy to take trades......I have already checked out the Daily, 4 hour, 30 min and 5 min.....but with these ultra fast moves, I like to watch the 1 min
Attached Image (click to enlarge)
Click to Enlarge Name: jly 30 1m b.jpg Size: 58 KB
Trading Levels with WRBs
  • #12,118
  • Jul 30, 2007 6:49am Jul 30, 2007 6:49am
Wa wa wee wa

My longs went bad

holy crapola.

Did not see it going this far
  • #12,119
  • Jul 30, 2007 8:07am Jul 30, 2007 8:07am
Nice spike up to the 61.8% and also the upper envelope.....banked some pips
Attached Image (click to enlarge)
Click to Enlarge Name: jly 30 1m c.jpg Size: 64 KB
Trading Levels with WRBs
  • #12,120
  • Jul 30, 2007 8:28am Jul 30, 2007 8:28am
Quoting digitizer123
My question -

2) I am new - but can you guys tell me what was the driver for the big correction back in late Feb/early March - it dropped 1700+ pips in less than 2 tweeks - How severe is present condition compare to Late Feb? What is the probabilty of this turning out to be a correction that severe?
february->chinese stock market crash->risk aversion->carry trade unwind.

keep reading questions about feb unwind. my answer is to wait it out.
for those of you who missed out the feb unwind. what a great opportunity now to experience it.
BAM BAM BOOM! -bravado
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