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Daily GBP/JPY analysis

  • #12,601
  • Aug 2, 2007 9:53pm Aug 2, 2007 9:53pm
i'm quite confident that the government will be able to sufficiently fake the data in order to make the payroll report look ok.
  • #12,602
  • Aug 2, 2007 10:02pm Aug 2, 2007 10:02pm
Sounds like it could be a bear day... (Although if it wasn't for the non-farms i think i would be looking to see if it went long to hit the 38 daily fib retrace before going down again..

Anyways...

Sadly, (or gladly), I'm off to the races today.. (Glorious Goodwood) so I can't be around to hands on trade...

I'm tempted to put in a short order at 24220 target 23950 but the non farms make setting a sensible stop harder.. I think 100 pip stop from there should do unless the damn thing spikes down and hits me and then spikes up and goes up?

Hmm.. non-farms at 1.30 pm.. so if i put my order to be active from 1.36pm maybe i avoid the spikes if there are any... maybe miss the boat but better that than be torpedoed for 100 pips.

I guess the real quesion is... "Am I going to win more on the geegees than i lose on the forex??"

No way... I never win on the horses... but who cares.. when i can come back and pick up my pile from my short order...

Hmm.. don't think i'll do it after all.. there's always next week.
  • #12,603
  • Aug 2, 2007 11:35pm Aug 2, 2007 11:35pm
Quoting mjolimer
Sounds like it could be a bear day... (Although if it wasn't for the non-farms i think i would be looking to see if it went long to hit the 38 daily fib retrace before going down again..

Anyways...

Sadly, (or gladly), I'm off to the races today.. (Glorious Goodwood) so I can't be around to hands on trade...

I'm tempted to put in a short order at 24220 target 23950 but the non farms make setting a sensible stop harder.. I think 100 pip stop from there should do unless the damn thing spikes down and hits me and then spikes up and goes up?

Hmm.. non-farms at 1.30 pm.. so if i put my order to be active from 1.36pm maybe i avoid the spikes if there are any... maybe miss the boat but better that than be torpedoed for 100 pips.

I guess the real quesion is... "Am I going to win more on the geegees than i lose on the forex??"

No way... I never win on the horses... but who cares.. when i can come back and pick up my pile from my short order...

Hmm.. don't think i'll do it after all.. there's always next week.
Well I hope you went to bed and havenŽt sat through all of the last 16 hours
of 60 pip range bound inactivity, which I suspect will continue for another 6 hours until NFP.

To help with you return on "geegee investing" you might like to talk with my wife, 4 winners yesterday, including one first, second and third....all each way!

Enjoy Goodwood, IŽll be there later this month for the Revival Meeting.....Classic Cars, not horses which I dont understand, no brakes or steering and terrible suspension!.....and they bite!

http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #12,604
  • Aug 3, 2007 12:39am Aug 3, 2007 12:39am
Was a slayer of the geppy overnight range 350 million more of them and can retire............. IN Florida trailer park LOL
"Millionaires don't use astrology, billionaires do"
  • #12,605
  • Aug 3, 2007 4:37am Aug 3, 2007 4:37am
Long GBP/JPY @ 242.65(VERY short-term)

Edit: EXITED for +8

NFP coming out soon....
  • #12,606
  • Edited 10:35pm Aug 3, 2007 5:23am | Edited 10:35pm
Quoting my2buoys
Present trend lines on the 4H Chart including a potential bottom support channel line. Thoughts anyone?

M2B


Here is how I draw the lines let's see how they hold the price :
1h
Attached Image (click to enlarge)
Click to Enlarge Name: gj1,3.jpg Size: 36 KB
  • #12,607
  • Aug 3, 2007 5:35am Aug 3, 2007 5:35am
NFP news bad for US. Anyone shorting yet?
  • #12,608
  • Aug 3, 2007 5:36am Aug 3, 2007 5:36am
i shorted at 242 59
  • #12,609
  • Aug 3, 2007 5:37am Aug 3, 2007 5:37am
Quoting kharvell
NFP news bad for US. Anyone shorting yet?
Not bad enough.
I may buy at 242.0 but not sure just yet
  • #12,610
  • Aug 3, 2007 5:48am Aug 3, 2007 5:48am
shorted at 242.67 right before going to work watching and waiting got a trailing stop 80 pips out and sl at 242.97 ----down boy down
  • #12,611
  • Aug 3, 2007 6:06am Aug 3, 2007 6:06am
Any post NFP thoughts?

Personally, I think the pair has held ground better than expected and I favour a long @ 243.40.
  • #12,612
  • Aug 3, 2007 6:11am Aug 3, 2007 6:11am
Quoting Majd
Any post NFP thoughts?

Personally, I think the pair has held ground better than expected and I favour a long @ 243.40.
You "may" have a brick wall at 244.
I have overlapping fibs around there.
  • #12,613
  • Aug 3, 2007 6:17am Aug 3, 2007 6:17am
My view is to wait until either 243.20 breaks for a North move and then reverse at 244.00 to 244.30. Alternatively, wait for 241.70 to break for a South move. Until then, I think price will be stuck in a washing machine.

Z
  • #12,614
  • Aug 3, 2007 6:19am Aug 3, 2007 6:19am
Quoting Majd
Any post NFP thoughts?

Personally, I think the pair has held ground better than expected and I favour a long @ 243.40.

I wouldn't go long under any circumstances, but if I were too, it would not be until after the ISM index at 10. If it is bad, you are going to see a sharp correction.
  • #12,615
  • Aug 3, 2007 6:20am Aug 3, 2007 6:20am
Quoting tigereye
shorted at 242.67 right before going to work watching and waiting got a trailing stop 80 pips out and sl at 242.97 ----down boy down
If my calculations are correct you just got stopped out at 242.26 that is if your trailing stop started at 242.67 and moved down with each tick.
  • #12,616
  • Aug 3, 2007 6:20am Aug 3, 2007 6:20am
Me too, I have 23.6 of the bigger upwards wave @ 243.98 and 50 of the recent downward wave @ 244.33 which I would TP at, hopefully.
  • #12,617
  • Aug 3, 2007 6:30am Aug 3, 2007 6:30am
Quoting imbiber
If my calculations are correct you just got stopped out at 242.26 that is if your trailing stop started at 242.67 and moved down with each tick.
no still in for now trailing stop lose does not move till the full 80 then moves 80 pips down sl still @ 242.97 wait and see i'm at work so can only watch from internet if i get stoped out for -30 its ok lots more trades too come
  • #12,618
  • Aug 3, 2007 6:39am Aug 3, 2007 6:39am
Quoting Zoran
My view is to wait until either 243.20 breaks for a North move and then reverse at 244.00 to 244.30. Alternatively, wait for 241.70 to break for a South move. Until then, I think price will be stuck in a washing machine.

Z
In agreement on the upper side by why the 241.70? is it because of the SL from the lows of 12/6 and 26/7 and currently 241.73?
  • #12,619
  • Aug 3, 2007 6:44am Aug 3, 2007 6:44am
The chart with the SL highlighted in baby blue

Attached Image (click to enlarge)
Click to Enlarge Name: GBP-JPY.jpg Size: 83 KB
  • #12,620
  • Aug 3, 2007 6:44am Aug 3, 2007 6:44am
Shorted at 242.17 and kicked out at 242.77... damn, I'm bored of this ping pong game!

Ado Whether you believe you can do a thing or not, you are right.
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