Daily GBP/JPY analysis | Page 686 | 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

  • #13,701
  • Oct 11, 2007 10:31am Oct 11, 2007 10:31am
Great day for scalping on the lower trend line from the 250907 low, still have 1/2 my origonal position from this morning, my target is the upper declining trend line. Looks about the right place to pull back from there possibly down to either just the daily 61.8, the daily lower t/l (see previous chart) or the weekly pivot 237.52, I think the trend line being the most probable.

Then a test of the 240 level again, if we can make it above 240 and the upper daily t/l it would be a great long on a retest of that level.

Of course it may not pull back at all.

Just my opinion.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 5m 111007.gif Size: 25 KB
  • #13,702
  • Oct 11, 2007 10:34am Oct 11, 2007 10:34am
There was a 1 min spike at 10:45 up to the monthly R2 at 239.89 that I mentioned earlier - so far thats the high and with the Dow 25 off its intra day high its not looking as if there´s any interest in pushing higher this morning.

Other than seeing weakening momentum, I dont yet see any reason to sell. EJ has already surprised me by rallying hard as the Euro strengthened - so I´ll keep my powder dry for now
Trading Levels with WRBs
  • #13,703
  • Oct 11, 2007 10:50am Oct 11, 2007 10:50am
Hallo Islander and Wolf!

As you see, your stamina is attracting more and more people. I am reading this thread on a regular basis and I like to compare your results to our system.

Although approaching the pair on a different basis, the trades are nearly simultaniously taken most of the time. This thread, apart from many others, offers a friendly and homely athmosphere combined with some fine expertise.

And with the help of your famous guests your thread will surely prosper and attract as much people as in the past! I would love to comment every now and then - still I may be mainly reading!

Keep up the good work!
Gnat
of Supernova System thread
  • #13,704
  • Oct 11, 2007 10:59am Oct 11, 2007 10:59am
Quoting Islander
There was a 1 min spike at 10:45 up to the monthly R2 at 239.89 that I mentioned earlier - so far thats the high and with the Dow 25 off its intra day high its not looking as if there´s any interest in pushing higher this morning.

Other than seeing weakening momentum, I dont yet see any reason to sell. EJ has already surprised me by rallying hard as the Euro strengthened - so I´ll keep my powder dry for now
Nice how price spiked up to the Monthly R2, just switched it on on my chart don't normally use it. Will keep an eye on it.
  • #13,705
  • Oct 11, 2007 11:35am Oct 11, 2007 11:35am
Looks more like a channel on the 15 min.
  • #13,706
  • Oct 11, 2007 11:58am Oct 11, 2007 11:58am
Quoting Zoran
Looks more like a channel on the 15 min.
I´m not certain about a channel, but I have just noticed this bearish gartley - pity I didnt see it before, I´d have been tempted to put a limit sell in the area that we had already identified...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp oct 11 1 hr 1250.gif Size: 15 KB
Trading Levels with WRBs
  • #13,707
  • Oct 11, 2007 1:01pm Oct 11, 2007 1:01pm
good discussion guys!

Geppy 's day trade is sensational for pips!
  • #13,708
  • Oct 11, 2007 2:33pm Oct 11, 2007 2:33pm
This is a great area for longs. holding period 1 day to 6 days

We are still in a range.
  • #13,709
  • Oct 11, 2007 2:44pm Oct 11, 2007 2:44pm
Hope some people caught this fall, nice break of the trend line.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 5m 111007no2.gif Size: 24 KB
  • #13,710
  • Oct 11, 2007 2:50pm Oct 11, 2007 2:50pm
Quoting Wolf.
Hope some people caught this fall, nice break of the trend line.
I was actually short EJ and got out a bit early, but trust that you hung in later - as usual! I´m not good at trading during our evening - too many family distractions! I´ll play catch up b 4 FO - g night.
Trading Levels with WRBs
  • #13,711
  • Edited Oct 12, 2007 2:20am Oct 11, 2007 2:59pm | Edited Oct 12, 2007 2:20am
Quoting Islander
I was actually short EJ and got out a bit early, but trust that you hung in later - as usual! I´m not good at trading during our evening - too many family distractions! I´ll play catch up b 4 FO - g night.
Its was luck more than anything I had set a level alarm in anticipation and was just going out when I heard it. Made a quick entry with a tight stop.

I have those family distractions too lol.

Looking a little like it may go a bit lower before going up, maybe to the pivot also may be rejected off the lower side of the t/l, staying short with 1/2.
  • #13,712
  • Oct 11, 2007 3:01pm Oct 11, 2007 3:01pm
Quoting Pickensrulz
This is a great area for longs. holding period 1 day to 6 days

We are still in a range.
if she moves up to 238.50/60 range. that will be a great place to tp on the contra for 3/4 of trade and wait for break of some short term MA's for confirmation of falling back into range.
  • #13,713
  • Edited 4:59pm Oct 11, 2007 3:12pm | Edited 4:59pm
Possible short scalp?? or more??

Maybe down to the pivot.

Edit: Guess I should have listened to you Pickensrulz and reversed long will leave my short overnight though you never know. I have my stop just above 239 now.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 5m 111007no3.gif Size: 26 KB
  • #13,714
  • Oct 11, 2007 3:47pm Oct 11, 2007 3:47pm
Quoting Islander
I´m not certain about a channel, but I have just noticed this bearish gartley - pity I didnt see it before, I´d have been tempted to put a limit sell in the area that we had already identified...
I posted my gartley chart only on the previous page (to you post above) and you responded to it. It ended up being about 10 pips short of the reversal point.
  • #13,715
  • Edited 5:31pm Oct 11, 2007 4:52pm | Edited 5:31pm
Quoting Gnat
Hallo Islander and Wolf!

As you see, your stamina is attracting more and more people. I am reading this thread on a regular basis and I like to compare your results to our system.

Although approaching the pair on a different basis, the trades are nearly simultaniously taken most of the time. This thread, apart from many others, offers a friendly and homely athmosphere combined with some fine expertise.

And with the help of your famous guests your thread will surely prosper and attract as much people as in the past! I would love to comment every now and then - still I may be mainly reading!

Keep up the good work!
Gnat
of Supernova System thread
Hello Gnat,

Very nice words thank you and after looking at your profile Gnat it is nice that two people have vouched on the same day who I would regard as serious professional traders.

Fine expertise…. that would be Islander your talking about I waffle on but can’t help thinking most of it is bollocks!

I have never been in the slightest bit bothered about becoming a 1KTer but it does boost the ego thanks.

On a side note do I have at least one thousand live trades?……,well actually yes. When 1KT was launched out of interest I started reckoning up my trades for just this year, stopped counting after January as its total came to 424 and I have traded live for two years now (shame most of those trades were losers lol). Maybe it should 1000 winning trades to become a 1KTer! Reduced it considerably now, down 5 to 10 per day. The phrase ‘practice makes perfect comes to mind’ thats what I'm hoping for anyway.

Regards,

Chris.
  • #13,716
  • Oct 12, 2007 12:20am Oct 12, 2007 12:20am
Quoting Pickensrulz
if she moves up to 238.50/60 range. that will be a great place to tp on the contra for 3/4 of trade and wait for break of some short term MA's for confirmation of falling back into range.

Looks like we're heading south. out of 1/4 pos at 237.9. short now.
  • #13,717
  • Oct 12, 2007 12:56am Oct 12, 2007 12:56am
Quoting Zoran
I posted my gartley chart only on the previous page (to you post above) and you responded to it. It ended up being about 10 pips short of the reversal point.
LOL - just shows how bad I am at multi tasking - I was mainly looking at EJ and forgot to keep my GJ fully updated - I dont doubt that you were on top of the signal!
Trading Levels with WRBs
  • #13,718
  • Edited 2:29am Oct 12, 2007 2:13am | Edited 2:29am
Yesterday afternoons sell off was Dow related. The Dow had a flat morning, creeping up to new highs before selling off 250 points from 2pm till 3:30pm before bouncing up 50 into its NY close.

This helped UJ sell off 75 pips to 116.99 and cable did the same. However, UJ bounced with the Dow and has since put in a higher low and is now at its Daily (Asian) Pivot.

Unlike UJ, cable has continued its fall and is now making new lows for the move which is closing in on Tuesdays low of 2.0256 - also todays M1 and its 4 hour 200ema.

So far GJ is attempting to rally after a 1 min double bottom at 237.58 - a little above its monthly R1 and Daily S1 both around 237.40.....will it get back to its DP at 238.60? Lets see what the Brits decide to do....

Edit: S1 hit - I´ve taken a half position long at 237.53 with a stop at 237.33
Trading Levels with WRBs
  • #13,719
  • Oct 12, 2007 3:02am Oct 12, 2007 3:02am
Not the best bullish bat, but the confluence of support in the 237.40 / 50 area does make me happier with my long. We do need to see UJ above its DP of 117.35 AND cable moving up from its M1 at 2.0254 to get a decent rally going. The 238 level is my first target, then the DP at 238.62
Attached Image (click to enlarge)
Click to Enlarge Name: oct 12 1hr 0350.gif Size: 16 KB
Trading Levels with WRBs
  • #13,720
  • Edited 3:52am Oct 12, 2007 3:39am | Edited 3:52am
Quoting Islander
Not the best bullish bat, but the confluence of support in the 237.40 / 50 area does make me happier with my long. We do need to see UJ above its DP of 117.35 AND cable moving up from its M1 at 2.0254 to get a decent rally going. The 238 level is my first target, then the DP at 238.62
Morning Islander,..... I'm with you long, nothing to do woth the bullish bat although its nice confirmation. I closed my short from last night and longed from the lower trend line and with the confluence of support you mention it would be silly not to take a long here even if it didn't end up working out.

I have reservations though and think this just may go lower, nothing I can put my finger on, after a small rally we may see it drop, Hope I'm wrong.

Its the first touch of the t/l since formation so that is encouraging, also I have similar targets in mind.

Edit: Just broken a declining t/l on the 5m chart, looking better, coming up to a stronger? one now.
5 traders viewing now