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Daily GBP/JPY analysis

  • #13,081
  • Edited 4:01pm Aug 19, 2007 4:00pm | Edited 4:01pm
Quoting Clusterwise
from http://www.forexfactory.com/showthre...01#post1513585

We have crossed half of the way, are you ready for the second part ?

many thanks
Excellent! May I suggest you post a chart for your second part analysis and prediction? Thanks. BR
  • #13,082
  • Aug 19, 2007 4:33pm Aug 19, 2007 4:33pm
Quoting bluerose
Excellent! May I suggest you post a chart for your second part analysis and prediction? Thanks. BR
Sure Bluerose
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY20AUGUSTS.jpg Size: 66 KB
  • #13,083
  • Aug 19, 2007 4:41pm Aug 19, 2007 4:41pm
Howdy Cluster! Yea, I've got the same thing on the long term. I don't have targets like you do though. I just know that there's going to retrace to around 50/61.8 fib line. and then back down we will go. I'm still having a hard time getting all these smaller time frame movements. The longer ones are easy and I hope for a good set-up for Cw
  • #13,084
  • Aug 19, 2007 8:58pm Aug 19, 2007 8:58pm
Quoting Clusterwise
from http://www.forexfactory.com/showthre...01#post1513585

We have crossed half of the way, are you ready for the second part ?

many thanks

I am with you on this one.

EG
  • #13,085
  • Edited 10:01pm Aug 19, 2007 9:17pm | Edited 10:01pm
Short GBP/JPY @ 225.97 for some small pips(20+)

EDIT: Bad call... exited for -65
  • #13,086
  • Aug 19, 2007 11:04pm Aug 19, 2007 11:04pm
So it seems to be pretty flat going into early morning, (at least for my time zone). So are we thinking that we will see a break for 220, (Yen rally)? I'm wondering if it will range 226-220 until the sub prime stuff blows over.
  • #13,087
  • Aug 20, 2007 1:20am Aug 20, 2007 1:20am
Good morning....just playing catch up as I´ve only just got back on line after the weekend. Thanks Kenmania for finding and posting the Snake....hope Tiago and Belidax have now got it. I think it repaints about 6 bars in real time, but as I only use it on 5 min and 1 min that doesnt effect its use for me as a big visual alert, especially via divergence.

Please let me have your thoughts as to what you find with it as its quite new to me too!

What a great set up at 0:16 edt off the 1 min chart....higher low, held at 200ema, snake turning green, buy break of 34ema at 226.43 or above prior high at 226.58.....a cool 80 pips or so......pity I was still in bed! http://www.forexfactory.com/images/icons/icon8.gif
Trading Levels with WRBs
  • #13,088
  • Aug 20, 2007 1:48am Aug 20, 2007 1:48am
hello guys, do you think there are any chances g/y will fall to 220 in the nearest future?
  • #13,089
  • Aug 20, 2007 3:24am Aug 20, 2007 3:24am
Quoting Vlad
hello guys, do you think there are any chances g/y will fall to 220 in the nearest future?

The short term trend - 5 min, hourly is up so until the 5 min and then the hourly turn down, there is no signal IMO that the 220 area will be seen soon
Trading Levels with WRBs
  • #13,090
  • Aug 20, 2007 3:52am Aug 20, 2007 3:52am
Nice action first off the pivot at 224.84, then a confirmation buy when the 200 ema and the 226 handle held at 22:25. Now price has stalled at an old trend line off my hourly chart....also, UJ hit its R1 at 115.51 and stopped dead.

The 1 min charts of both GJ and UJ have rolled over, but cable is just holding on, with 1.9884 as its highs and therefore short term resistance.

With an hour of sideways consolidation a new move should start soon. I exited my longs at 229.37 and now have a small short at 229.07 with a tight stop.
Attached Image
Trading Levels with WRBs
  • #13,091
  • Edited 6:12am Aug 20, 2007 5:38am | Edited 6:12am
Whilst GJ and cable managed a slightly higher high, UJ didnt and now both 5 min charts have started to roll over, with price under a falling 34 ema, but cable needs to do the same for the move to gather any momentum and return to M2 at 227.71

Closed my small short for 42 pips as UJ is holding at its 115 handle and GJ and cable have stalled....also, its time for lunch, so prefer pips in my bank
Trading Levels with WRBs
  • #13,092
  • Aug 20, 2007 8:48am Aug 20, 2007 8:48am
Well there was no follow through to the downside and only a small bounce, so banking my pips was the safe option at that time.

The way I see things now is that we have a longer term down trend - from the hourly chart, price is under the still falling 200 EMA, now at 232.80.

Medium term we have an uptrend, with price above the 5 min 200EMA - now at 227.70 and Short Term we have a down trend with price having just dropped under the 1 min 200 EMA which is at 228.70.

The last 5 min high was at 5:25 edt and so the market is showing the first sign of turning back down, but it needs to break M3 at 227.70 and for UJ to break 114.54 and cable to break 1.9844 and hold under these levels
Trading Levels with WRBs
  • #13,093
  • Edited 9:02am Aug 20, 2007 8:57am | Edited 9:02am
Is anyone else short right now? I'm short since 228.60. Should hold it for at least another 30 minutes or so but my stop loss is at +60 pips.

EDIT: STOP HIT for 60
  • #13,094
  • Aug 20, 2007 9:04am Aug 20, 2007 9:04am
Darn it....too busy looking at other charts etc and didnt have my 1 min up.....missed an easy 150 pips or so *#ç¿& **


great bearish divergence from the Snake....and at a 00 level too....blast
Attached Image
Trading Levels with WRBs
  • #13,095
  • Edited 9:49am Aug 20, 2007 9:36am | Edited 9:49am
Quoting Islander
Darn it....too busy looking at other charts etc and didnt have my 1 min up.....missed an easy 150 pips or so *#ç¿& **


great bearish divergence from the Snake....and at a 00 level too....blast
I'm fixing to enter in short again here in a little bit... I don't think it's done, yet...

EDIT: SHORT again @ 227.72
  • #13,096
  • Aug 20, 2007 10:10am Aug 20, 2007 10:10am
I have a GJ mechanical system which has just given me a short signal at 227.58 taking me out of the previous long for +402.

Not too sure about this trade, but we will see.
  • #13,097
  • Aug 20, 2007 10:13am Aug 20, 2007 10:13am
yeah, same here, i went short. looks like this is headed to 228. hopefully will return from there! :
  • #13,098
  • Aug 20, 2007 10:15am Aug 20, 2007 10:15am
becareful if you are short, if hourly candle closes above 228.40, we might be going to 231 area
Trade what you see, not what you think.
  • #13,099
  • Aug 20, 2007 10:16am Aug 20, 2007 10:16am
Quoting kharvell
I'm fixing to enter in short again here in a little bit... I don't think it's done, yet...

EDIT: SHORT again @ 227.72
I waited a bit and got in after it failed at the 228.00 level, but I dont like the way it turned back up from27.50....its so dammed whippy at present with no clear direction....
Trading Levels with WRBs
  • #13,100
  • Aug 20, 2007 10:17am Aug 20, 2007 10:17am
Quoting karmostaji
becareful if you are short, if hourly candle closes above 228.40, we might be going to 231 area

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