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Daily GBP/JPY analysis

  • #12,861
  • Aug 8, 2007 6:37am Aug 8, 2007 6:37am
Quoting Islander
Some great action off the pivots this morning...the last three hits off R1 (241.60) and then the two mid levels at 40.85 and 42.21 are classic
islander what charting you using there? is that one that gives you singals when to buy and sell see it before but can not remember were. could you please send me the web address
  • #12,862
  • Aug 8, 2007 7:03am Aug 8, 2007 7:03am
Quoting dirtymonkey79
islander what charting you using there? is that one that gives you singals when to buy and sell see it before but can not remember were. could you please send me the web address
Itīs a standard MT4 chart with a snake indicator added. If you search in the FF Forums under MT4 you will find the links to hundreds of indicators, some of which give buy and sell signals. IMO you are better off keeping things as simple as possible and I use price relative to a moving average to confirm an entry....its quicker and clearer than waiting for the MAs to cross.

For me, the stochastic helps to identify divergence around similar highs / lows and the snake is a visual indication of loss of momentum etc.

The pivot levels are used by many traders and thus have a good chance of being respected, as demonstrated this morning. The current target is R2 at 242.83, the last mid point only caused a 10 min, 30 pip pull back before GJ resumed its rally.
Trading Levels with WRBs
  • #12,863
  • Aug 8, 2007 7:25am Aug 8, 2007 7:25am
cheers islander
will have a look at that not used the mt4 before.
will its looks like the market is on the up as its just take out the PAR on the daily and it triple interest wednesday so all good sign the dow just has to say in the green and like some one said before 244 could be in sight who know
  • #12,864
  • Aug 8, 2007 8:56am Aug 8, 2007 8:56am
Quoting Islander
Some great action off the pivots this morning...the last three hits off R1 (241.60) and then the two mid levels at 40.85 and 42.21 are classic
very nice.
BAM BAM BOOM! -bravado
  • #12,865
  • Aug 8, 2007 9:02am Aug 8, 2007 9:02am
http://www.audiomastermind.us/wp-con..._fever_big.jpg

i got a fever..
and the only cure are more pips.
BAM BAM BOOM! -bravado
  • #12,866
  • Aug 8, 2007 9:08am Aug 8, 2007 9:08am
http://www.forexfactory.com/showpost...ostcount=12616

Attached Image (click to enlarge)
Click to Enlarge Name: images4.jpg Size: 39 KB


got this from igrok.

at the time of his posting, cable did not turn into a diamond.
this one though..

Attached Image (click to enlarge)
Click to Enlarge Name: images3.jpg Size: 42 KB


i do my homework.
BAM BAM BOOM! -bravado
  • #12,867
  • Aug 8, 2007 9:08am Aug 8, 2007 9:08am
am i crazy being short at .40?
  • #12,868
  • Aug 8, 2007 9:13am Aug 8, 2007 9:13am
Quoting bmwboyee
am i crazy being short at .40?
that diamond can turn into a channel real fast. meaning a possible bounce down.

atm. i have no idea which way guppy will turn.
igrok's preaching on diamonds helped for those who listened with the current up. for me anyway.

when a trader with 12 years of experience speaks, i tend to listen.
BAM BAM BOOM! -bravado
  • #12,869
  • Aug 8, 2007 9:19am Aug 8, 2007 9:19am
Thanks for that great information Bravado I must read Igrok,s posts!

I wish everyday moved like this!!

356 pip range and I am at +320 right now.

Regards

Chris.
  • #12,870
  • Aug 8, 2007 9:25am Aug 8, 2007 9:25am
Quoting Wolf.
..I must read Igrok,s posts!..
if you can find some value in his posts. good.
BAM BAM BOOM! -bravado
  • #12,871
  • Aug 8, 2007 9:34am Aug 8, 2007 9:34am
Anyone seen it go like this before? Seems like an incredible run.. surely it has to retrace soon?
  • #12,872
  • Aug 8, 2007 9:34am Aug 8, 2007 9:34am
Quoting bmwboyee
am i crazy being short at .40?
no stoploss?
BAM BAM BOOM! -bravado
  • #12,873
  • Aug 8, 2007 9:38am Aug 8, 2007 9:38am
Think I'm going to take some of my profits from tonight and have an 'I love Yen Crosses' T-Shirt made up for me.

Currently +304pips and counting on positions opened about 4 hours ago.
  • #12,874
  • Aug 8, 2007 9:39am Aug 8, 2007 9:39am
stop losses are there for a reason. i think.
BAM BAM BOOM! -bravado
  • #12,875
  • Aug 8, 2007 9:40am Aug 8, 2007 9:40am
it must stop for a rest in a min and go down a bit its in overbought it have to come down so it can go up more
  • #12,876
  • Aug 8, 2007 9:41am Aug 8, 2007 9:41am
Quoting nathbear
..Currently +304pips and counting on positions opened about 4 hours ago.
heh.

is this where i put up a thumbs up and lots of smilies?
bah.

i never use them.

congrats nath.
BAM BAM BOOM! -bravado
  • #12,877
  • Edited 10:58am Aug 8, 2007 9:42am | Edited 10:58am
Quoting dirtymonkey79
it must stop for a rest in a min and go down a bit its in overbought it have to come down..
correct.
BAM BAM BOOM! -bravado
  • #12,878
  • Aug 8, 2007 9:46am Aug 8, 2007 9:46am
I was long from 239.56 yesterday and couldn't take it anymore so I had to TP @ 243.87 +421 PIPS is a new best for me not sure I have the stomach to ever do better! Wow and I used to be scared to trade the Pound/Yen
  • #12,879
  • Aug 8, 2007 9:59am Aug 8, 2007 9:59am
Quoting derabuf
I was long from 239.56 yesterday and couldn't take it anymore so I had to TP @ 243.87 +421 PIPS is a new best for me not sure I have the stomach to ever do better! Wow and I used to be scared to trade the Pound/Yen
nice.
BAM BAM BOOM! -bravado
  • #12,880
  • Aug 8, 2007 10:50am Aug 8, 2007 10:50am
Quoting derabuf
I was long from 239.56 yesterday and couldn't take it anymore so I had to TP @ 243.87 +421 PIPS is a new best for me not sure I have the stomach to ever do better! Wow and I used to be scared to trade the Pound/Yen
Fear and Greed are the mover of the market

up +380 i'm sticking in but i have closed part of my original trade
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