Daily GBP/JPY analysis | Page 681 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/JPY

Similar Threads

GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies

long eur/jpy, gbp/jpy, usd/jpy 11 replies

GBP/JPY, GBP/USD, and EUR/USD (technical analysis) 3,084 replies

Gbp/jpy = Gbp/usd X Usd/jpy ?? 5 replies

Adwa Daily GBP/JPY analysis 23 replies

Attachments: Daily GBP/JPY analysis
Exit Attachments

Daily GBP/JPY analysis

  • #13,601
  • Oct 4, 2007 5:27am Oct 4, 2007 5:27am
Quoting Zoran
I've got this bearish bat on the 15min. It's all a bit uncertain now with the pending BoE decision. Annoyingly, my target missed by 16 pips yesterday.
Hi Zoran - another accurate pattern - already hit the 78% fibbo......might I ask why its called a bearish bat when it seems to have indicated a bullish trade - although as a retrace
Trading Levels with WRBs
  • #13,602
  • Oct 4, 2007 5:39am Oct 4, 2007 5:39am
Quoting Islander
Hi Zoran - another accurate pattern - already hit the 78% fibbo......might I ask why its called a bearish bat when it seems to have indicated a bullish trade - although as a retrace
When the pattern completes, it signals a reversal. I have put the labels on it now and I trade the final leg (CD). Then look for reversal signs to re-enter in the opposite direction. The reversal on this one is at the 88.6 level (237.63).

Also, don't look at the time aspect, just the price. I will adjust the pattern when complete.
Attached Image (click to enlarge)
Click to Enlarge Name: guppy15min.gif Size: 23 KB
  • #13,603
  • Oct 4, 2007 5:50am Oct 4, 2007 5:50am
Just closed all of my entries at 237.05. for 60 + 20 = 80 pips.

I'm not a news trader unless I'm well clear.
  • #13,604
  • Oct 4, 2007 5:55am Oct 4, 2007 5:55am
I'll wait for announcement and might buy if rates are left on hold (for a scalp).
  • #13,605
  • Oct 4, 2007 6:20am Oct 4, 2007 6:20am
The pattern is complete. I managed to get a high of 237.64 on both my live accounts but only 237.62 on my charting account so it looks like it didn't hit the line but it did.
Attached Image (click to enlarge)
Click to Enlarge Name: guppy15min.gif Size: 22 KB
  • #13,606
  • Oct 4, 2007 6:23am Oct 4, 2007 6:23am
Closed 1/2 of my position at H3 for +71 stop at + 10 on the remaining half which I will trail.

Hmmm looks like I should move my stop up then!
  • #13,607
  • Oct 4, 2007 7:20am Oct 4, 2007 7:20am
Quoting Zoran
The pattern is complete. I managed to get a high of 237.64 on both my live accounts but only 237.62 on my charting account so it looks like it didn't hit the line but it did.
What an amazingly accurate analysis - I can see that I have some work to do to learn more about Gartleys, Butterflys, Crabs and Bats - its some years since I first met them and I didnt pursue that encounter - obviously a mistake!
Trading Levels with WRBs
  • #13,608
  • Oct 4, 2007 8:00am Oct 4, 2007 8:00am
Quoting Islander
What an amazingly accurate analysis - I can see that I have some work to do to learn more about Gartleys, Butterflys, Crabs and Bats - its some years since I first met them and I didnt pursue that encounter - obviously a mistake!
Yes, not only are they accurate but some patterns offer excellent R/R. On this setup, the stop only needed to be above the X point (so 20 to 30 pip risk) and targets could be in the 100s. I use MM to manage the profit.

The only thing is that the fibs need to line up fairly accurately to get the best results. On this one, the B point was precisely 38.2 of XA - the most important point) and C was precisely 78.6 of AB (not so important). D was (depending on platform) precisely 88.6 of XA (and this depends on the precision of the other points). Blah blah blah
  • #13,609
  • Oct 4, 2007 8:15am Oct 4, 2007 8:15am
Hi Zoran

Do you draw these patterns by hand or any indicator or software draws them for you?
Regards
  • #13,610
  • Oct 4, 2007 8:16am Oct 4, 2007 8:16am
Quoting Zoran
Yes, not only are they accurate but some patterns offer excellent R/R. On this setup, the stop only needed to be above the X point (so 20 to 30 pip risk) and targets could be in the 100s. I use MM to manage the profit.

The only thing is that the fibs need to line up fairly accurately to get the best results. On this one, the B point was precisely 38.2 of XA - the most important point) and C was precisely 78.6 of AB (not so important). D was (depending on platform) precisely 88.6 of XA (and this depends on the precision of the other points). Blah blah blah
Thanks for the "heads up". IŽll do some research to get the hang of the basics before asking for any unput that you may be prepared to pass on. I seem to remember an indicator called Harmonic Zup that put fibbo relationships on a chart - I have it on my oldŽputer so IŽll look it up and see if it helps.
Trading Levels with WRBs
  • #13,611
  • Oct 4, 2007 8:30am Oct 4, 2007 8:30am
Quoting howard
Hi Zoran

Do you draw these patterns by hand or any indicator or software draws them for you?
I look for them by eye and draw them by hand with the tools provided in MT4.
  • #13,612
  • Oct 4, 2007 8:57am Oct 4, 2007 8:57am
Quoting Islander
Thanks for the "heads up". IŽll do some research to get the hang of the basics before asking for any unput that you may be prepared to pass on. I seem to remember an indicator called Harmonic Zup that put fibbo relationships on a chart - I have it on my oldŽputer so IŽll look it up and see if it helps.
Yes, someone did mention it once. I haven't looked into it myself (i.e - Zupp indictor). Let me know if it is any good.
  • #13,613
  • Oct 4, 2007 10:11am Oct 4, 2007 10:11am
This is what it looks like. Short at 237.52 (bid), stop at 237.90 (ask) and target open.
Attached Image (click to enlarge)
Click to Enlarge Name: guppy15min-trade7.gif Size: 14 KB
  • #13,614
  • Edited 11:46am Oct 4, 2007 10:56am | Edited 11:46am
Hi Zoran,

Just trying to work out the basis for your short, I see the price firmly back in the channel and continueing to rise (hopefully in my case).

I know we are near yesterdays high but we have been close to it once and I know its that time of day and could easily come down from here and for various other reasons too.

Just trying to figure it out? lol

Edit: Just checked back over your posts and of course your reasons for entry are clear, it been a long day so please ignore me.
  • #13,615
  • Edited 4:18pm Oct 4, 2007 11:06am | Edited 4:18pm
Price has just broken a rising trend line on the fifth touch after forming so may turn into a nice short now. Especially if it rejects the lower side of the trend line.

Short from 63 scalp Closed +3
  • #13,616
  • Oct 4, 2007 11:29am Oct 4, 2007 11:29am
Quoting Zoran
When the pattern completes, it signals a reversal. I have put the labels on it now and I trade the final leg (CD). Then look for reversal signs to re-enter in the opposite direction. The reversal on this one is at the 88.6 level (237.63).

Also, don't look at the time aspect, just the price. I will adjust the pattern when complete.

Oh my......... here it is 6+ hrs later and your target pattern seems to have
completed and reversed as you indicated.

I'm impressed and intrigued by your method.

I hope you'll continue to post here on this thread your analysis. I haven't
fully embraced Aus's system for some reason so I don't linger there too
often. It seems that I still like chartings formations more than relying
fully on his indicators.

My homework is to study back through all of you posts and see what I can
learn. Any key areas of study you might suggest would be appreciated.
Perhaps you've given this info before... I'll look.

Dr. D.
  • #13,617
  • Edited 11:46am Oct 4, 2007 11:35am | Edited 11:46am
Just something I've observed.

I think you could set your 'pip watch' on the 1600 GMT throughout
the GJ 4HR charts for peaks and retracements. I count 9 such patterns
(major and minor) dating back to 12 Sept '07. And here we go again.

Some have been good for 200 - 400 pips.
  • #13,618
  • Oct 4, 2007 1:16pm Oct 4, 2007 1:16pm
Hello,

Strong resistance @ 237.84(+-). It goes back to August 10th. Two touches since yesterday at exactly that price. Both times we have seen a pullback.

Unus pro omnibus, omnes pro uno
  • #13,619
  • Oct 4, 2007 2:15pm Oct 4, 2007 2:15pm
Quoting moneda
Hello,

Strong resistance @ 237.84(+-). It goes back to August 10th. Two touches since yesterday at exactly that price. Both times we have seen a pullback.

Profit taking area
Patience + Humility + Study = Success
  • #13,620
  • Oct 4, 2007 6:26pm Oct 4, 2007 6:26pm
Quoting Wolf.
Hi Zoran,

Edit: Just checked back over your posts and of course your reasons for entry are clear, it been a long day so please ignore me.
I wondered where that post went. It was supposed to go into another thread but found itself here! I must have clicked the wrong tab.

The bat target was in the 236 area (or high 235s) so as it turned out, the potential was 83 pips. That's why I play the reversal with MM as it's difficult to determine where it will end.
25 traders viewing now