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Daily GBP/JPY analysis

  • #13,561
  • Oct 2, 2007 10:23am Oct 2, 2007 10:23am
Quoting Zoran
Aha, yes. It is pretty much dead now. The whole site gets as many posts in a month as a good thread here gets in a day. It used to be a good site and more popular than this place until the admins killed it.

Did you follow fxsurfer's thread?
Yes I did briefly, that was the Elliot wave guy is that right. Never did get my head around EWs so gave up. Did he get banned for some reason, seemed to remember something could be thinking about someone else. Think I came across him in a paltalk room too.
  • #13,562
  • Oct 2, 2007 10:26am Oct 2, 2007 10:26am
Quoting Alfa159
If you dont mind me asking Islander, what are the moving average values you use besides 34 EMA on a 5 min chart... I will understand if you dont want to share...


merci...
NP, I´ve already posted them...I use the same on all my charts, the 8, 34 & 200 EMAs - only the +/- bands for the 34 vary for each TF - the one currently shown is +/- 90.

a vous
Trading Levels with WRBs
  • #13,563
  • Oct 2, 2007 10:26am Oct 2, 2007 10:26am
Quoting Islander
NP, I´ve already posted them...I use the same on all my charts, the 8, 34 & 200 EMAs - only the +/- bands for the 34 vary for each TF - the one currently shown is +/- 90.

a vous

thank you my friend for sharing it...

may the pips be with you
  • #13,564
  • Oct 2, 2007 10:40am Oct 2, 2007 10:40am
Darn it UJ not co-opearating and sticking above 115.77 and GU´s just had a little bounce up off M2, so GJ now has a higher low on its 5m - but the Dow´s still dropping so I´ll hang onto this short for now
Trading Levels with WRBs
  • #13,565
  • Oct 2, 2007 12:47pm Oct 2, 2007 12:47pm
Hey guys, Sold on a break of the lows trendline, currently at +13 pips. Thank you Wolf, I used your trendline:
Attached Image (click to enlarge)
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  • #13,566
  • Oct 2, 2007 1:14pm Oct 2, 2007 1:14pm
Oops! Price retraced off a bounce from the other trendline... (glad i only used 0.2 lots ;-) )
Attached Image (click to enlarge)
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  • #13,567
  • Oct 2, 2007 1:16pm Oct 2, 2007 1:16pm
Quoting Kn1vez
Hey guys, Sold on a break of the lows trendline, currently at +13 pips. Thank you Wolf, I used your trendline:
Well I´ve just closed my short on a limit order just above the DP - also at Wolf´s descending T/L! - actually at 236.09

I guess the good GM sales data will give the Dow a bounce and lift UJ for a bit....that´s it for today, now to continue quality control on a nice Rioja....back for FO
Trading Levels with WRBs
  • #13,568
  • Oct 2, 2007 2:23pm Oct 2, 2007 2:23pm
Quoting Kn1vez
Hey guys, Sold on a break of the lows trendline, currently at +13 pips. Thank you Wolf, I used your trendline:
Glad you like my trend lines Kn1vez. Hope you took some profit when it reached the lower one .

It would have been a good place to reverse your position to long perhaps, also the daily pivot and with the trend .
  • #13,569
  • Edited 2:59pm Oct 2, 2007 2:37pm | Edited 2:59pm
Origonally posted by Kn1vez.

[Well, no matter how many lines, diamonds, and triangles we draw, we cannot predict what the next news candle will look like. On top of all the brokers spiking the prices to knock out all the little guy's stops, no one will know how big the candles will be.

Bottom line, the fundamentals are at the heart of the prices, the technicals are a great help, but still secondary.]

------------

Hmmmm!!
  • #13,570
  • Oct 2, 2007 2:37pm Oct 2, 2007 2:37pm
Quoting Wolf.
Glad you like my trend lines Kn1vez. Hope you took some profit when it reached the lower one .

It would have been a good place to reverse your position to long perhaps, also the daily pivot and with the trend .
This is going to hurt my ego but unfortunately I did not :-( However, I am looking for more trading opportunities later on, I see a slow downward trend now, and will be back later to trade again.
Attached Image (click to enlarge)
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  • #13,571
  • Oct 2, 2007 2:46pm Oct 2, 2007 2:46pm
Quoting Wolf.
Origonally posted by Kn1vez.

[Well, no matter how many lines, diamonds, and triangles we draw, we cannot predict what the next news candle will look like. On top of all the brokers spiking the prices to knock out all the little guy's stops, no one will know how big the candles will be.]


Bottom line, the fundamentals are at the heart of the prices, the technicals are a great help, but still secondary.

------------

Hmmmm!!
Ha! I still stand by that, but the last news to come out for GBP was at 4:30 am!
  • #13,572
  • Oct 2, 2007 3:09pm Oct 2, 2007 3:09pm
To be honest I don't take much notice of 'Funnymentals', don't know enough about them. In the past whenever I've tried to interperet them I usually crash and burn. So now I don't take much notice and just focus on what I can understand.

That doesn't mean I'm not 'aware' of news releases!
  • #13,573
  • Oct 2, 2007 4:49pm Oct 2, 2007 4:49pm
Quoting Wolf.
To be honest I don't take much notice of 'Funnymentals', don't know enough about them. In the past whenever I've tried to interperet them I usually crash and burn. So now I don't take much notice and just focus on what I can understand.

That doesn't mean I'm not 'aware' of news releases!
Oh I understand you, I do not claim to have a full grasp of fundamentals either. I believe that they are hard to trade because so much depends on psychology. I used to try to trade the news, but did not perform well. Are you trading GBP/JPY any more today, or waiting until tomorrow?
  • #13,574
  • Oct 3, 2007 1:33am Oct 3, 2007 1:33am
What a terrible Asian Session for trading! GJ was in a 75 pip range, with an early sell getting to just under the DP / 50% fibbo, hanging around there for 2 hours before making it back up to the 78% fibbo before a lower high and an even smaller fall.

Whilst in this type of range I use the 1 min chart and scalp for around 20 pips - otherwise, stay out! Now I´ll wait for LO and see if the Brits make a move.
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #13,575
  • Edited 2:15am Oct 3, 2007 2:04am | Edited 2:15am
Good Morning,

Suprisingly I am still long with my first position from yesterday, left my stop just below the pivot and the price just missed it.

I nearly bought at the Frankfurt open when price played with the lower trend line of a wedge created during the Asian session. Oh well wait for a retrace, if it happens to enter and take us to 238.

Edit: price has hit resistance at the trend line shown on post 13532
  • #13,576
  • Oct 3, 2007 2:56am Oct 3, 2007 2:56am
GM Wolf - well done hanging in with your long. We certainly had the better deal last night - in bed asleep rather than watching the non action session.

Whilst the 5m chart I posted did not at that time show a buy signal, my 1 min gave a nice entry at 236.36 at 2:13, just after FO and good for more than 60 pips - pity I missed it, messing with a locked platform.

I see that Vishal has just mentioned a possible UJ option expiry at 117 in UJ - now that really would be good for the longs IF they try and get it up there!
Trading Levels with WRBs
  • #13,577
  • Oct 3, 2007 3:02am Oct 3, 2007 3:02am
Quoting Islander
GM Wolf - well done hanging in with your long. We certainly had the better deal last night - in bed asleep rather than watching the non action session.

Whilst the 5m chart I posted did not at that time show a buy signal, my 1 min gave a nice entry at 236.36 at 2:13, just after FO and good for more than 60 pips - pity I missed it, messing with a locked platform.

I see that Vishal has just mentioned a possible UJ option expiry at 117 in UJ - now that really would be good for the longs IF they try and get it up there!
Morning Islander,

Yes I saw Vishal's post so hope your right.

I have just longed from 236.65 bounce up from the trend line I mentioned earlier.
  • #13,578
  • Oct 3, 2007 3:20am Oct 3, 2007 3:20am
Just had a look at your 1m chart Islander it is a nice entry and also the bounce up from the trend line that I missed too. I shouldn't have missed it really, still half asleep!

I like a sleepy Asian session it often produces some nice trend line breaks around the F/L open.
  • #13,579
  • Oct 3, 2007 3:22am Oct 3, 2007 3:22am
Quoting Wolf.
Morning Islander,

Yes I saw Vishal's post so hope your right.

I have just longed from 236.65 bounce up from the trend line I mentioned earlier.
I also had that as a possible buy on the bounce from my 5 m 34 ema, but I noticed that GU was holding under its DP, so I decided to wait for the 10:30 data.
Trading Levels with WRBs
  • #13,580
  • Edited 3:47am Oct 3, 2007 3:31am | Edited 3:47am
Quoting Islander
I also had that as a possible buy on the bounce from my 5 m 34 ema, but I noticed that GU was holding under its DP, so I decided to wait for the 10:30 data.
Looks like you made a wise choice, missed moving my stop to +1 so may take a loss on this one.

Edit: closed -5
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