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Brave Heart of GBP/JPY

  • #721
  • Edited 2:33pm Sep 15, 2007 2:03pm | Edited 2:33pm
thanks for the charts pips and thanks for the templates etc.

it seems to me that directions for next week are all in the balance at the moment.

i think nobody could call long or short with confidence.

i saw a frightening sight in England today. A queue of people all around the block trying to get their money out of Northern Rock. Panic. It was like a scene out of the old film "It's a Wonderful Life".. I've never seen such a thing before..

People don't like risk and it is the small guy who is left holding the baby. These were old people with their life savings... ok they get 90% even if it all goes down.. but...

I sold every share i owned 2 weeks ago.. i had a lot of bank shares. I think UK and US are going down for a bit. We've been foolish. Borrowing vast amounts on credit, 5 or 6 times earnings.. I don't think europe is so bad.. so im keen on euro investments.. Some euro property could be good.. make on the appreciation and on the exchange rate maybe.. i can see GBP euro parity with the eur/usd at 2.00
Oh well.. all in the game i guess..

So I guess i should only be going short.. even if there is a long break out.

Rather not get on the long train just now.
  • #722
  • Sep 15, 2007 2:51pm Sep 15, 2007 2:51pm
Quoting mjolimer
thanks for the charts pips and thanks for the templates etc.

it seems to me that directions for next week are all in the balance at the moment.

i think nobody could call long or short with confidence.

i saw a frightening sight in England today. A queue of people all around the block trying to get their money out of Northern Rock. Panic. It was like a scene out of the old film "It's a Wonderful Life".. I've never seen such a thing before..

People don't like risk and it is the small guy who is left holding the baby. These were old people with their life savings... ok they get 90% even if it all goes down.. but...

I sold every share i owned 2 weeks ago.. i had a lot of bank shares. I think UK and US are going down for a bit. We've been foolish. Borrowing vast amounts on credit, 5 or 6 times earnings.. I don't think europe is so bad.. so im keen on euro investments.. Some euro property could be good.. make on the appreciation and on the exchange rate maybe.. i can see GBP euro parity with the eur/usd at 2.00
Oh well.. all in the game i guess..

So I guess i should only be going short.. even if there is a long break out.

Rather not get on the long train just now.
nice to be here mjo...
euro has organized channel since 2005 ...
the pair euro/usd exactlly retreated from the high line of the channel...
so if u want to invest ur money in this pair u should be ruled with this channel
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  • #723
  • Sep 15, 2007 2:53pm Sep 15, 2007 2:53pm
Quoting debtfreedom7
NEW UPDATE FOR GBP/JPY ANALYSIS

http://i76.photobucket.com/albums/j1...d116sept07.jpg

GOOD LUCK
DEBTFREEDOM
16 SEPTEMBER 2007 03:25AM MALAYSIA
thanks debtfreedom
  • #724
  • Sep 15, 2007 3:00pm Sep 15, 2007 3:00pm
Quoting fxstman
Hi Pips. Good to hear from you again. I wanted to ask you about your thoughts on that upward wedge that is taking place on the daily time frame. Do you have an idea of what it might do? Normally it means up on a breakout, but as we have seen in the past, there was a wedge on the 4H chart and the NFP over ruled the breakout on that one. Because of the global and US problems right now do you think that is something to keep an eye on as well? Or with the rule of a larger time frame over ruling a smaller time frame, It won't matter as much?

Thanks
please ... if u can explain by chart ...
coz i do not see upward wedges on daily or 4h TF
  • #725
  • Sep 15, 2007 3:38pm Sep 15, 2007 3:38pm
pips, i really really like your scalping ...
so simple, yet by looking on the charts, it looks really good!!!
did i mention i admire you?
Money for nothin' and pips for free!
  • #726
  • Sep 15, 2007 3:52pm Sep 15, 2007 3:52pm
by the way pips, is it ok to enter a trade after the stochs are back to the normal zone?
for example - i get a oversold signal... i wait for a candlestick pattern or formation to appear... by the time they appear (say after 2-3 candles) ,the stochs is beginning to climb in the normal zone (its between 20- 80).... would u enter such a trade? or do u trade only when u get a signal and the stochs are still in the oversold/overbought zones?

thanks in advance!
Money for nothin' and pips for free!
  • #727
  • Sep 15, 2007 6:27pm Sep 15, 2007 6:27pm
Sorry Pips
I have not been able to post charts. If someone can help this idiot with how I can do that. it would be great. Maybe I'm wrong, So if you could look at the 4H chart please let me know. On the 4H chart draw your top line of the wedge at 235.50, and then the bottom starting with the low at 221.43 on Aug. 16th and then to the low on Sept. 09th. It has hit exactly there and rebounded three times since that first low. I was able to place longs at these points and gain some pips out of it. Please look at this and let me know if I'm wrong. I hope this helps. Once again, if someone could please help me out on how I can post charts. I am using Oanda as a broker.
Thank You
  • #728
  • Sep 15, 2007 6:49pm Sep 15, 2007 6:49pm
http://F:\Documents and Settings\John Husby\Desktoptest
  • #729
  • Sep 15, 2007 6:56pm Sep 15, 2007 6:56pm
test
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  • #730
  • Edited 8:45pm Sep 15, 2007 8:16pm | Edited 8:45pm
Gpb/jpy is on of my favourite pairs to trade steady trends and more pips than you could ask for. I like the simplicity of your trading style though it is not my own i still respect it. I've been long in this position since the massive selloff that started mid-july, i got a nice bargain at $226.5 when it finally bottomed in august, I took half the profit at $236. To make some extra pips while collecting interest is how i like to trade, when i find a bargain price i'll hold it for up to a month or longer then i'll swing trade the same pair any time it finds support for a quick 100-200 pips.

Never risk more than what you are willing to lose.
Happy Trading.
  • #731
  • Sep 16, 2007 1:56am Sep 16, 2007 1:56am
Quoting ltklev
by the way pips, is it ok to enter a trade after the stochs are back to the normal zone?
for example - i get a oversold signal... i wait for a candlestick pattern or formation to appear... by the time they appear (say after 2-3 candles) ,the stochs is beginning to climb in the normal zone (its between 20- 80).... would u enter such a trade? or do u trade only when u get a signal and the stochs are still in the oversold/overbought zones?

thanks in advance!
not at all ....
when u drive ur BMW car ... do depened on the rigth mirror only ??
so you must look for all the factories which effect with your deal...
you must look for the support & resistance ...the fibo levels... divergance...
pattern... but the quistion of when u must exit the market is more important than enter the market .. coz u must keep ur profit u gained from ur deal... most of time the traders have greed to wait more when the market move with them deal ... but the price becomes reverse.... we must take our TRGT then get out ...
  • #732
  • Sep 16, 2007 3:38am Sep 16, 2007 3:38am
Well , I do put s/r and fibos into consideration
But I should practice divergences a bit more I guess
Thx...
Money for nothin' and pips for free!
  • #733
  • Edited 7:41am Sep 16, 2007 7:27am | Edited 7:41am
This weekly chart tells the story. Price has met resistance at the 23% retrace for 4 straight weeks. The second chart is a close-up with some additional fib lines drawn. There is no question to where the line in the sand for resistance is drawn and all three fib drawings confirm it (23% - BLUE; 50% - GREEN; 61% YELLOW). If this pair takes a real hit to the downside, look for support at the 38% blue fib which is around 224.00. If that can't hold, it's headed for the low made in August.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GJ WEEKLY CLOSEUP.GIF Size: 26 KB
  • #734
  • Sep 16, 2007 8:09am Sep 16, 2007 8:09am
Quoting southernmind
This weekly chart tells the story. Price has met resistance at the 23% retrace for 4 straight weeks. The second chart is a close-up with some additional fib lines drawn. There is no question to where the line in the sand for resistance is drawn and all three fib drawings confirm it (23% - BLUE; 50% - GREEN; 61% YELLOW). If this pair takes a real hit to the downside, look for support at the 38% blue fib which is around 224.00. If that can't hold, it's headed for the low made in August.
i agree with u that we have cluster resistance...
so we must wait on weekly TF to se if this resistance hold or not....
realy it will arrive 38.2 % fibo if this resistance doesnot hold ...
but on 1h TF & 4h TF we have many deal before it begin down....
thanks indeed for ur chart southernmind
  • #735
  • Sep 16, 2007 1:27pm Sep 16, 2007 1:27pm
triangle on 4h line chart....
we will exclude the high & lowest price of all the candles...
the price will still oscillate between 50 & 38.2 fibo untill the pattern become broken....
this week will be full of action ... i think that guys
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  • #736
  • Sep 17, 2007 9:21am Sep 17, 2007 9:21am
the price did not break 50% fibo it was strong resistance...
now it is coming back to 50% @ 231.50 ...
it may be rejected one more time
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  • #737
  • Sep 17, 2007 12:14pm Sep 17, 2007 12:14pm
now guys we have anew levels...
50% fibo refers to 4h trend....
candles refer to 1h trnd....
50% rejected the price and 38.2% is asupport point.....
we got 150 pips from this support & resistance
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  • #738
  • Sep 17, 2007 12:16pm Sep 17, 2007 12:16pm
that is the principle ...
high TF will rule low TF
  • #739
  • Sep 17, 2007 12:22pm Sep 17, 2007 12:22pm
Quoting debtfreedom7
ANOTHER COUNT OR UPDATE FOR GBP/JPY

http://i76.photobucket.com/albums/j1...h416sept07.jpg

GOOD LUCK
DEBTFREEDOM
17 SEPTEMBER 2007 23:50PM MALAYSIA
thanks indeed debtfreedom7
  • #740
  • Sep 17, 2007 12:25pm Sep 17, 2007 12:25pm
we have no enough knowledge about eliot waves debtfreedom7 ...
would u explaine more 4 us
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