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Daily GBP/JPY analysis

  • #12,981
  • Aug 13, 2007 6:18am Aug 13, 2007 6:18am
Intresting morning,

slept in but managed to grab some longs at the bottom 36.62, think we wil be targeting a 47.xx in coming future. maybe another little push lower. Happy with positioning either way
"Millionaires don't use astrology, billionaires do"
  • #12,982
  • Aug 13, 2007 6:49am Aug 13, 2007 6:49am
Quoting OrionsWay
Intresting morning,

slept in but managed to grab some longs at the bottom 36.62, think we wil be targeting a 47.xx in coming future. maybe another little push lower. Happy with positioning either way
Nice entry, I see the upside limited for now by the weekly pivot at 239.90 and I still expect a test of the Daily 61.8% fibbo at 232.50 before a proper rally resumes - twt - but lets just keep grabbing pips along the way

http://www.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #12,983
  • Aug 13, 2007 6:54am Aug 13, 2007 6:54am
Quoting Islander
Nice entry, I see the upside limited for now by the weekly pivot at 239.90 and I still expect a test of the Daily 61.8% fibbo at 232.50 before a proper rally resumes - twt - but lets just keep grabbing pips along the way

http://www.forexfactory.com/images/icons/icon7.gif
Yea nimble is key around in here, equities today should show some light maybe. lower buys i would welcome
"Millionaires don't use astrology, billionaires do"
  • #12,984
  • Aug 13, 2007 8:14am Aug 13, 2007 8:14am
Now back to pivot, where we were 5 hours ago, time for the New Yorkers to decide what they are going to do.....cable´s held at under 50% of this morning´s fall, so most of this bounce has come from the support of UJ, which is now 12 pips under its pivot and is at new highs for today
Trading Levels with WRBs
  • #12,985
  • Aug 13, 2007 8:23am Aug 13, 2007 8:23am
Price around the daily pivot now, hopefully it can be broken and we can move up.

Also near a decending trend line and resistance area.

We now have a nice double bottom on the one hour chart with a higher low.

Very nice moves again today.

Regards,

Chris.
  • #12,986
  • Aug 13, 2007 8:33am Aug 13, 2007 8:33am
It held under the pivot for over 15 mins before dropping to the 50 level with the 1min 34ema starting to roll over....the first signs of a possible pull back.

UJ didnt make it up to its pivot and cable has also stalled......patience to see if a sell gets confirmed
Trading Levels with WRBs
  • #12,987
  • Aug 13, 2007 8:39am Aug 13, 2007 8:39am
Well I closed my long and shorted at 55 a reject of the uptrend line, I have a tight stop and a an initial target around M2


We will see.
  • #12,988
  • Aug 13, 2007 8:41am Aug 13, 2007 8:41am
My target for GJ is 232.50 , maybe days/weeks but I believe it will get there
Trade what you see, not what you think.
  • #12,989
  • Aug 13, 2007 8:44am Aug 13, 2007 8:44am
Quoting Islander
It held under the pivot for over 15 mins before dropping to the 50 level with the 1min 34ema starting to roll over....the first signs of a possible pull back.

UJ didnt make it up to its pivot and cable has also stalled......patience to see if a sell gets confirmed
Short from 38.48, GU leading the pull back, this needs UJ to pull back too to make it worthwhile....so far it is just a scalp against the trend
Trading Levels with WRBs
  • #12,990
  • Aug 13, 2007 8:48am Aug 13, 2007 8:48am
Stop at + 1 had a very good day and do not intend giving anything back!
  • #12,991
  • Aug 13, 2007 8:51am Aug 13, 2007 8:51am
Quoting Islander
Short from 38.48, GU leading the pull back, this needs UJ to pull back too to make it worthwhile....so far it is just a scalp against the trend
Out for +18, cable´s starting to bounce
Trading Levels with WRBs
  • #12,992
  • Aug 13, 2007 8:55am Aug 13, 2007 8:55am
I'm still in with stop at 35 will just trail it.
  • #12,993
  • Aug 13, 2007 9:05am Aug 13, 2007 9:05am
Reversed long at 238.02 very tight stop again.
  • #12,994
  • Aug 13, 2007 9:15am Aug 13, 2007 9:15am
Quoting Wolf.
I'm still in with stop at 35 will just trail it.
nice...I clucked early, but pips in the bank is fine by me....not giving any back today and I´m not seeing a clear reversal yet
Trading Levels with WRBs
  • #12,995
  • Aug 13, 2007 9:18am Aug 13, 2007 9:18am
Thanks Islander ....Could have easily been me with +1 and you with +18 though.

Got stopped out at +1 On the next long.

Think I will watch for the moment.
  • #12,996
  • Aug 13, 2007 9:52am Aug 13, 2007 9:52am
Quoting karmostaji
My target for GJ is 232.50 , maybe days/weeks but I believe it will get there
well the 61.8% fibbo retrace is a powerful magnet - and there´s over half of August still left, so I´d have to agree.

GJs last big pull back was 1870 pips in 33 days....so far, this one is 1400 in 21 days and 232.50 is 1780 down...say 27 days at the current rate would be August 23 ......twt
Trading Levels with WRBs
  • #12,997
  • Aug 13, 2007 11:03am Aug 13, 2007 11:03am
Orions Way....please check your PM - thanks
Trading Levels with WRBs
  • #12,998
  • Aug 13, 2007 11:20am Aug 13, 2007 11:20am
Quoting Islander
Orions Way....please check your PM - thanks

right back atcha
"Millionaires don't use astrology, billionaires do"
  • #12,999
  • Aug 13, 2007 12:08pm Aug 13, 2007 12:08pm
Quoting Islander
Nice entry, I see the upside limited for now by the weekly pivot at 239.90 and I still expect a test of the Daily 61.8% fibbo at 232.50 before a proper rally resumes - twt - but lets just keep grabbing pips along the way

http://www.forexfactory.com/images/icons/icon7.gif
That's my target as well, but I'm locking in pips and re-entering as it goes. Took 150 pips last night on the move down.
  • #13,000
  • Aug 13, 2007 1:10pm Aug 13, 2007 1:10pm
The daily pivot -238.76 - held at 9:00 edt and ever since GJ´s been trading the range down to M2 - 237.90 - and back, on decreasing volume. I think I´ll call it a day and see what tomorrow brings
Trading Levels with WRBs
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