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Daily GBP/JPY analysis

  • #12,801
  • Aug 6, 2007 1:10pm Aug 6, 2007 1:10pm
76.4 is also a fib ratio (in fact there are lots of others). Just as the first fib ratio is the limit of the ratios of the next to last number in the sequence to the last number, you can form the limit of the 2nd to last to the last and look at the limiting value, as well as the 3rd to last to the last, etc, as well as the ratio's subrtracted from 1. The ratio of the 3rd to last to last is 23.6%; one minus that is 76.4
  • #12,802
  • Aug 6, 2007 1:21pm Aug 6, 2007 1:21pm
Quoting HalifaxCB
76.4 is also a fib ratio (in fact there are lots of others). Just as the first fib ratio is the limit of the ratios of the next to last number in the sequence to the last number, you can form the limit of the 2nd to last to the last and look at the limiting value, as well as the 3rd to last to the last, etc, as well as the ratio's subrtracted from 1. The ratio of the 3rd to last to last is 23.6%; one minus that is 76.4
Thanks Halifax.....in 15 years of using fibbos, IŽve never heard of 76.4 being used, although 23.6 does appear and is now commonly included with the more usual 38.2 and 61.8 and 78.6. IŽll watch to see if it is frequently respected or if it is just the occasional hit. http://www.forexfactory.com/images/icons/icon7.gif
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  • #12,803
  • Aug 6, 2007 1:30pm Aug 6, 2007 1:30pm
You're welcome Islander. Though I don't have stats to back it up, I think you may find it pretty common on USD/CAD (failed) retracements on long term charts. (the 23.6, that is.)
  • #12,804
  • Aug 6, 2007 2:30pm Aug 6, 2007 2:30pm
AND
The gap just closed for the 6th week in a row....
Que
  • #12,805
  • Aug 6, 2007 2:31pm Aug 6, 2007 2:31pm
Attached Image


!
BAM BAM BOOM! -bravado
  • #12,806
  • Aug 6, 2007 2:44pm Aug 6, 2007 2:44pm
not bad at all.

some good range on GJ today.
BAM BAM BOOM! -bravado
  • #12,807
  • Aug 6, 2007 2:45pm Aug 6, 2007 2:45pm
Quoting bravado
not bad at all.

some good range on GJ today.
287+
BAM BAM BOOM! -bravado
  • #12,808
  • Aug 6, 2007 3:26pm Aug 6, 2007 3:26pm
I would retire back home in Jamaica
  • #12,809
  • Aug 6, 2007 3:27pm Aug 6, 2007 3:27pm
Quoting rumrunner35
I would retire back home in Jamaica
with 287 pips?

seriously?
BAM BAM BOOM! -bravado
  • #12,810
  • Aug 6, 2007 3:39pm Aug 6, 2007 3:39pm
And trade fulltime......

Thought you where saying 287 here we come

My Bad
  • #12,811
  • Aug 6, 2007 3:40pm Aug 6, 2007 3:40pm
Quoting rumrunner35
And trade fulltime......

Thought you where saying 287 here we come

My Bad
287 is todays range so far.
BAM BAM BOOM! -bravado
  • #12,812
  • Aug 6, 2007 3:48pm Aug 6, 2007 3:48pm
Gotcha,

I am long avg 240.10, 4hr stoch is my queue
  • #12,813
  • Aug 6, 2007 4:18pm Aug 6, 2007 4:18pm
So are we ready to go back to 250 allready ?
  • #12,814
  • Aug 6, 2007 4:22pm Aug 6, 2007 4:22pm
Quoting melpheos
So are we ready to go back to 250 allready ?
I would imagine there will be some stalling at 243.00 by the looks of my 4-hour chart.
  • #12,815
  • Aug 6, 2007 4:24pm Aug 6, 2007 4:24pm
I hope its 3rd times a charm and it goes through 243, but i am ready for another either way now i ahve an idea of the range.
  • #12,816
  • Aug 6, 2007 9:38pm Aug 6, 2007 9:38pm
Maybe there might be a chance that it will resume the bear trend if it can breakout past the pivot?

However if it goes up much more then even the 4h bear trend is compromised..

Let's see.. it could go either way.. it certainly had a hard time trying to go down yesterday.. but maybe it can have another try
Attached Image(s) (click to enlarge)
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  • #12,817
  • Aug 6, 2007 11:27pm Aug 6, 2007 11:27pm
Looks like we have heads and shoulder pattern on the 4h/daily ?
  • #12,818
  • Aug 6, 2007 11:29pm Aug 6, 2007 11:29pm
I notice the dailies wont close below the 100 day, so we could be ready to turn up since it is at 240.84 today.
  • #12,819
  • Aug 7, 2007 2:01am Aug 7, 2007 2:01am
this was my prediction (yellow lines) yesterday....
I hope it can break the trendline now.... i'm out until then...
Attached Image (click to enlarge)
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  • #12,820
  • Aug 7, 2007 2:06am Aug 7, 2007 2:06am
With London about to open, GJ is trying to get away from the 241.00 level and follow UJs hour long rally, but is being held back by cableŽs fall under its 300 level.

Lets see what the Brits do - after 9 hours in a 75 pip range anything would be better than waiting another 5.5 hours for the US data!
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