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Daily GBP/JPY analysis

  • #12,401
  • Aug 2, 2007 6:42am Aug 2, 2007 6:42am
It's too funny bravado panicking LOL
Trade what you see, not what you think.
  • #12,402
  • Aug 2, 2007 6:43am Aug 2, 2007 6:43am
Call me naive, but I see this thing crashing down hard after it hits 243.00. Seems to be resistance there.
  • #12,403
  • Aug 2, 2007 6:43am Aug 2, 2007 6:43am
Quoting kharvell
I WOULD be waiting for confirmation IF I didn't have to work all day

Probably will be placing my trades after 9pm CST and I COULD have a completely different outlook by then
...
BAM BAM BOOM! -bravado
  • #12,404
  • Aug 2, 2007 6:44am Aug 2, 2007 6:44am
Quoting kharvell
Call me naive, but I see this thing crashing down hard after it hits 243.00. Seems to be resistance there.
why 243?? thats almost 100 pips up??

i CANNOT BELIEVE THIS!
BAM BAM BOOM! -bravado
  • #12,405
  • Aug 2, 2007 6:46am Aug 2, 2007 6:46am
Quoting OrionsWay

well if u are i wouldnt worry it wont be going up past that 4th 15min bar me thinks supply swamped demand for now, just suckin in the last of the trolls atm before they hand them their heads. Or at least i hope so LOL
Bravado dont worry
"Millionaires don't use astrology, billionaires do"
  • #12,406
  • Aug 2, 2007 6:47am Aug 2, 2007 6:47am
Quoting bravado
why 243?? thats almost 100 pips up??

i CANNOT BELIEVE THIS!
LOL look at my 4-hour chart. And follow the price history around 243.00.... It has been previous support AND resistance. I'm venturing a guess for the latter if/when it gets there.
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  • #12,407
  • Aug 2, 2007 6:48am Aug 2, 2007 6:48am
hmmm..

dropping.
BAM BAM BOOM! -bravado
  • #12,408
  • Aug 2, 2007 6:49am Aug 2, 2007 6:49am
Quoting OrionsWay
Bravado dont worry
appreciate the comment Orion.
BAM BAM BOOM! -bravado
  • #12,409
  • Aug 2, 2007 6:50am Aug 2, 2007 6:50am
thats very minor resistance. very. on the other hand 239.5 is a previous MULTI WEEK resistance. A LOT of people lost money at this level, it is burned into their heads.

Fundamentals not considered, many many traders see this as a reversal point.

just a thought.
  • #12,410
  • Aug 2, 2007 6:51am Aug 2, 2007 6:51am
Quoting kharvell
LOL look at my 4-hour chart. And follow the price history around 243.00.... It has been previous support AND resistance. I'm venturing a guess for the latter if/when it gets there.
that's right. the key word..
BAM BAM BOOM! -bravado
  • #12,411
  • Aug 2, 2007 6:51am Aug 2, 2007 6:51am
It looks like it's chewing away the support lying on 241.70. Slowly but surely.

Z
  • #12,412
  • Aug 2, 2007 6:52am Aug 2, 2007 6:52am
Quoting bravado
so are you saying this thing is heading up more?

OMG.
I think that GJ needs support from cable and UJ to make new highs today....so far, cables failed 4 times at 2.0328 - currently at 0315 - and whilst cable is above its 5m 200ema, the euro is holding below its 200emaŽ....so no upwards pressure there.

I think the danger is UJ breaking up and heading for its resistance at 119.50....that would take GJ up towards its next resistance around 242.80
Trading Levels with WRBs
  • #12,413
  • Aug 2, 2007 6:53am Aug 2, 2007 6:53am
Quoting bobblong
thats very minor resistance. very. on the other hand 239.5 is a previous MULTI WEEK resistance. A LOT of people lost money at this level, it is burned into their heads.

just a thought.
We'll see what happens if/when it gets there. Thanks for the heads up on the 239.5. I'm no psychic, just a speculator(one that's been wrong a FEW times before)
  • #12,414
  • Aug 2, 2007 6:57am Aug 2, 2007 6:57am
I don't recognize you bravado. lol.
did you overleverage this trade? or what?
  • #12,415
  • Aug 2, 2007 6:58am Aug 2, 2007 6:58am
Quoting Islander
..
I think the danger is UJ breaking up and heading for its resistance at 119.50....that would take GJ up towards its next resistance around 242.80
242.80. that's STILL almost 100 pips up.

appreciate the analysis.
BAM BAM BOOM! -bravado
  • #12,416
  • Aug 2, 2007 6:58am Aug 2, 2007 6:58am
Quoting emda
I don't recognize you bravado. lol.
did you overleverage this trade? or what?
no comment...
BAM BAM BOOM! -bravado
  • #12,417
  • Aug 2, 2007 7:01am Aug 2, 2007 7:01am
Alright, I'm off to work. I leave you with my predictions:

Up to 243.00 in the next 4-6 hours, and down to at least 240.00(hopefully 238.00 for bravado) shortly there after

AGAIN, I'M NOT A PSYCHIC.

sorry to disappoint
  • #12,418
  • Aug 2, 2007 7:01am Aug 2, 2007 7:01am
Quoting bravado
no comment...
don't panic. it is goping up. but then is going down... but then is going up... and then down.... the problem is that after that is going up.
  • #12,419
  • Aug 2, 2007 7:03am Aug 2, 2007 7:03am
For those of you whom need some encouragement check out my quotes thread...

http://forexfactory.com/showthread.php?t=40638

I'd appreciate some contribution from the talented members of this thread.
  • #12,420
  • Aug 2, 2007 7:04am Aug 2, 2007 7:04am
Quoting kharvell
Alright, I'm off to work. I leave you with my predictions:

Up to 243.00 in the next 4-6 hours, and down to at least 240.00(hopefully 238.00 for bravado) shortly there after

AGAIN, I'M NOT A PSYCHIC.

sorry to disappoint
a 400 point move yesterday begs consolidation me thinks
"Millionaires don't use astrology, billionaires do"
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