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Daily GBP/JPY analysis

  • #13,201
  • Aug 21, 2007 4:59pm Aug 21, 2007 4:59pm
Trying my luck short @ 226.44
  • #13,202
  • Aug 21, 2007 5:04pm Aug 21, 2007 5:04pm
we are approaching the bottom of what other candles couldn't penetrate. this has been a slow ride back down to 226.20. if it is repeating itself, i see it moving up again, but this time it might just slowly sneak below and keep going. like creeping slowly, instead of WHAM! move.. which is the one i hate most. creeping..and before you know it...you've been bitten!
  • #13,203
  • Aug 21, 2007 5:11pm Aug 21, 2007 5:11pm
Quoting m00jiman
we are approaching the bottom of what other candles couldn't penetrate. this has been a slow ride back down to 226.20. if it is repeating itself, i see it moving up again, but this time it might just slowly sneak below and keep going. like creeping slowly, instead of WHAM! move.. which is the one i hate most. creeping..and before you know it...you've been bitten!
My stop is above 227.00, so if it breaks that, then I know I'm wrong. At some point it has to break out of this range, and I am guessing it will be short for now, but if I am wrong I will quickly go long.
  • #13,204
  • Aug 21, 2007 5:23pm Aug 21, 2007 5:23pm
Kharvel, very interesting to know your thoughts on long term. Where do you think GY will be in the New Year?
Quoting kharvell
My stop is above 227.00, so if it breaks that, then I know I'm wrong. At some point it has to break out of this range, and I am guessing it will be short for now, but if I am wrong I will quickly go long.
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #13,205
  • Aug 21, 2007 5:26pm Aug 21, 2007 5:26pm
Quoting Andy12
Kharvel, very interesting to know your thoughts on long term. Where do you think GY will be in the New Year?
Hey andy,

I'm never in the market to be worried about the long-term. Usually I'm in a trade only 4-5 hours max, but ideally I just look at what the market is doing now and what I think it will do in the very near future.

To answer your question, I have NO IDEA. I just know I want to make 20 pips for every trade.
  • #13,206
  • Aug 21, 2007 5:34pm Aug 21, 2007 5:34pm
locked in 20 pips. Currently up 44
  • #13,207
  • Aug 21, 2007 5:36pm Aug 21, 2007 5:36pm
good job..turns out you were right!
  • #13,208
  • Aug 21, 2007 5:40pm Aug 21, 2007 5:40pm
Quoting m00jiman
good job..turns out you were right!
Stopped out for 20 pips, I think it may range for now...
  • #13,209
  • Aug 21, 2007 5:46pm Aug 21, 2007 5:46pm
Thanks for your answer, it is very nice to see that you have strategy and you comftable with it and it give you good edge to make profit
That is all what matters.
Quoting kharvell
Hey andy,

I'm never in the market to be worried about the long-term. Usually I'm in a trade only 4-5 hours max, but ideally I just look at what the market is doing now and what I think it will do in the very near future.

To answer your question, I have NO IDEA. I just know I want to make 20 pips for every trade.
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #13,210
  • Aug 21, 2007 6:20pm Aug 21, 2007 6:20pm
quick 20 pips on the upward swing felt good!
  • #13,211
  • Aug 21, 2007 6:23pm Aug 21, 2007 6:23pm
Assuming the price stays as is or higher, I may take up a position long after the completion of the next 15-min candle. The 8 and 12 SMA's are flattening out, and the Heiken Ashi bar is showing upwards confirmation. If I had to say, I'd predict the up movement to go to the 72 SMA(red) and then head down for a smackaroo.
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  • #13,212
  • Aug 21, 2007 6:28pm Aug 21, 2007 6:28pm
Quoting kharvell
Assuming the price stays as is or higher, I may take up a position long after the completion of the next 15-min candle. The 8 and 12 SMA's are flattening out, and the Heiken Ashi bar is showing upwards confirmation. If I had to say, I'd predict the up movement to go to the 72 SMA(red) and then head down for a smackaroo.
do you have any downward targets?
give me my pips back...
  • #13,213
  • Aug 21, 2007 6:31pm Aug 21, 2007 6:31pm
Quoting Lincoln_10
do you have any downward targets?
I'd be especially careful around 225.30, but if it breaks that, expect a lot of pips.

Oh and for the record, I'm not taking this long trade because the SMA's are all saying short(conflicting signals).
  • #13,214
  • Aug 21, 2007 6:35pm Aug 21, 2007 6:35pm
Quoting kharvell
I'd be especially careful around 225.30, but if it breaks that, expect a lot of pips.

Oh and for the record, I'm not taking this long trade because the SMA's are all saying short(conflicting signals).
ahh if only the pair can hit 225.30 soon... than i would adjust my strategy...
i just cant see this happening now though
give me my pips back...
  • #13,215
  • Aug 21, 2007 6:37pm Aug 21, 2007 6:37pm
Quoting Lincoln_10
ahh if only the pair can hit 225.30 soon... than i would adjust my strategy...
i just cant see this happening now though
Bulls look so weak to me right now. If the bulls can break through my 72 SMA, then I will change my mind but right now I'm all bear.
  • #13,216
  • Aug 21, 2007 6:40pm Aug 21, 2007 6:40pm
Quoting kharvell
Bulls look so weak to me right now. If the bulls can break through my 72 SMA, then I will change my mind but right now I'm all bear.
after a weird day and 2 down short entries which i am still holding, all i have is the words of other good traders saying southern action...

Lets see what will the result be.
give me my pips back...
  • #13,217
  • Aug 21, 2007 6:42pm Aug 21, 2007 6:42pm
we might see 227 before we head back down. gotsa wait for asia open.

im neither bear or bull right now. i am a...eagle...lookin down on this pair..and go chhhhhhhhhheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee and dive down and swoop pips from the move.

Rainy day here, boring and depressing. feels like fall's here already. no fun. i want summer back..with less heat than usual.
  • #13,218
  • Aug 21, 2007 6:45pm Aug 21, 2007 6:45pm
Quoting m00jiman
we might see 227 before we head back down. gotsa wait for asia open.

im neither bear or bull right now. i am a...eagle...lookin down on this pair..and go chhhhhhhhhheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee and dive down and swoop pips from the move.

Rainy day here, boring and depressing. feels like fall's here already. no fun. i want summer back..with less heat than usual.
LOL nice eagle noises, man

Hotter than heck in texas, but nothing new there.
  • #13,219
  • Aug 21, 2007 6:50pm Aug 21, 2007 6:50pm
Well I'm off to go work out, I hope I come back in time for some pips. Good luck everyone
  • #13,220
  • Aug 21, 2007 7:41pm Aug 21, 2007 7:41pm
not much movement atm. will keep away from position, be back at london open. 3am est. should i sleep? damn! or trade?
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