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Daily GBP/JPY analysis

  • #12,561
  • Aug 2, 2007 1:44pm Aug 2, 2007 1:44pm
Quoting bballfan31
Originally Posted by bballfan31 http://www.forexfactory.com/images/buttons/viewpost.gif
Top of this move will be 243.30-243.60 before close today... I believe.
After this retrace which could go as low as 242.20
will check back in tonight to update

Of course if Dow has 200 point day all bets are off

Still long from 238 Good Luck traders
Nice call right off the 20 Top still looks good for the time being

Anybody catch that bounce??? Anybody??

http://www.forexfactory.com/images/misc/progress.gif

DOW is forming a Diamond top so a fall could be on its way

Z
  • #12,562
  • Aug 2, 2007 1:49pm Aug 2, 2007 1:49pm
Quoting Zoran
DOW is forming a Diamond top so a fall could be on its way

Z
I'm with you there. Candle close below 20 and see ya.
Dow will tell us in last hour of trading
  • #12,563
  • Aug 2, 2007 1:51pm Aug 2, 2007 1:51pm
Quoting bballfan31
I'm with you there. Candle close below 20 and see ya.
Dow will tell us in last hour of trading
Are you referring to 13,320 on the dow?
Craazy
  • #12,564
  • Aug 2, 2007 2:09pm Aug 2, 2007 2:09pm
Quoting craazy
Are you referring to 13,320 on the dow?


No 242.20 1hr and 4hr candles
  • #12,565
  • Aug 2, 2007 2:28pm Aug 2, 2007 2:28pm
hourly chart
Attached Image (click to enlarge)
Click to Enlarge Name: gbp 303-08-07 asd13579 trend 5&3pong 1q2w111.jpg Size: 30 KB
  • #12,566
  • Aug 2, 2007 2:49pm Aug 2, 2007 2:49pm
Quoting bballfan31


No 242.20 1hr and 4hr candles
That was what I originally thought but I got thrown off somehow. I'm thinking a short around the 243 area. Yeeeehaw
Craazy
  • #12,567
  • Aug 2, 2007 2:53pm Aug 2, 2007 2:53pm
typical formation that brakes down...
Attached Image (click to enlarge)
Click to Enlarge Name: wedge.jpg Size: 35 KB
  • #12,568
  • Aug 2, 2007 3:15pm Aug 2, 2007 3:15pm
Linuxist cool indi.

Great short is geppy after rollover me thinks
"Millionaires don't use astrology, billionaires do"
  • #12,569
  • Aug 2, 2007 3:18pm Aug 2, 2007 3:18pm
Quoting OrionsWay
Linuxist cool indi.

Great short is geppy after rollover me thinks
Good thinking!
Craazy
  • #12,570
  • Aug 2, 2007 3:38pm Aug 2, 2007 3:38pm
Quoting craazy
Good thinking!

Although they might find some fresh buyers since they are holding at res, fresh blood could prolly bust a move, treading with caution

maybe i was a bit of a dumbass dumping the perfect base longs knew it was good for 44 at least. compensatory move from last weeks power slam. Bias is selling regardless overall
"Millionaires don't use astrology, billionaires do"
  • #12,571
  • Aug 2, 2007 4:07pm Aug 2, 2007 4:07pm
Quoting emda
typical formation that brakes down...
emda,

what would be your entry for short in this scenario?
  • #12,572
  • Aug 2, 2007 4:09pm Aug 2, 2007 4:09pm
Quoting brainless
emda,

what would be your entry for short in this scenario?
after the break of lower trendline to be safe
  • #12,573
  • Aug 2, 2007 4:11pm Aug 2, 2007 4:11pm
Quoting emda
after the break of lower trendline to be safe
Where is that sitting currently? 242.60?
Craazy
  • #12,574
  • Aug 2, 2007 4:14pm Aug 2, 2007 4:14pm
arrrg i'll bite 42.80 sell target HELL or at least 50 and 100 bar on 15m SL 42.89 + -
"Millionaires don't use astrology, billionaires do"
  • #12,575
  • Aug 2, 2007 4:14pm Aug 2, 2007 4:14pm
but.. hey... there is a strong trend up... be careful... I don't go against the trend.... just wait
  • #12,576
  • Aug 2, 2007 4:15pm Aug 2, 2007 4:15pm
Quoting OrionsWay
arrrg i'll bite 42.80 sell target HELL SL 42.98 + -
We'll see... I think it might actually edge its way up to 43.10 or 43.20 before it goes to hell so be careful with that SL
Craazy
  • #12,577
  • Aug 2, 2007 4:21pm Aug 2, 2007 4:21pm
Long @ 242.62
  • #12,578
  • Aug 2, 2007 4:29pm Aug 2, 2007 4:29pm
I have been long since yesterday @ 240.588 I will stay with my long position
until I have a positive change in direction .
  • #12,579
  • Aug 2, 2007 4:35pm Aug 2, 2007 4:35pm
look at the previous wedge ... of two days ago...
but now it's more difficult to repeat that drop . because now is a W formation... it is going UP after a bit of retrace.
  • #12,580
  • Aug 2, 2007 5:03pm Aug 2, 2007 5:03pm
Maybe have a stroke of good timing here cable and yen hrly OB conditions
"Millionaires don't use astrology, billionaires do"
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