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Daily GBP/JPY analysis

  • #13,761
  • Oct 15, 2007 10:20am Oct 15, 2007 10:20am
Are you the same guy from GLOBAL-VIEW.COM?
"Timing Is Everything. Really I Swear It Is"
  • #13,762
  • Oct 15, 2007 10:29am Oct 15, 2007 10:29am
Quoting TexasforEX
Are you the same guy from GLOBAL-VIEW.COM?
No, not the same person - I´ve never heard of that site......and darn it, when´s GJ going to continue down - looks like cable´s 15 pip bounce is spoiling the party!
Trading Levels with WRBs
  • #13,763
  • Oct 15, 2007 10:34am Oct 15, 2007 10:34am
Quoting Islander
No, not the same person - I´ve never heard of that site......and darn it, when´s GJ going to continue down - looks like cable´s 15 pip bounce is spoiling the party!
I've been waiting for GU to go down for hours now, but it's just moving in a tight range, if it breaks upwards then it might really spoil the bear party.
Trade what you see, not what you think.
  • #13,764
  • Oct 15, 2007 10:39am Oct 15, 2007 10:39am
Quoting karmostaji
I've been waiting for GU to go down for hours now, but it's just moving in a tight range, if it breaks upwards then it might really spoil the bear party.

expecting 239.13 from geppy... but not so confident yet.
  • #13,765
  • Edited 11:18pm Oct 15, 2007 11:10am | Edited 11:18pm
Quoting Bernanke_Sr
expecting 239.13 from geppy... but not so confident yet.
When UJ finally breaks down I´m expecting it to test or even break its 117 level. This should put GJ under its 239 level and as its Asian DP is at 238.76 - thats my initial target for this session.

Edit: Additional short at 239.32 on break of recent lows

Edit: Closed at 239.28 on limit order on retest of lows
Trading Levels with WRBs
  • #13,766
  • Oct 15, 2007 11:18am Oct 15, 2007 11:18am
If Usd/Yen can close a couple of 4 hour candles under the 50 simple MA it could be the beginning of a larger move
"Timing Is Everything. Really I Swear It Is"
  • #13,767
  • Oct 15, 2007 11:34am Oct 15, 2007 11:34am
Quoting TexasforEX
If Usd/Yen can close a couple of 4 hour candles under the 50 simple MA it could be the beginning of a larger move
Fine, what´s the current level that you are looking at.....
Trading Levels with WRBs
  • #13,768
  • Oct 15, 2007 11:40am Oct 15, 2007 11:40am
Quoting Islander
Fine, what´s the current level that you are looking at.....
It's sitting on it currently at 117.17. good momentum for now but low volatility market hours upcoming might dissipate that.
"Timing Is Everything. Really I Swear It Is"
  • #13,769
  • Oct 15, 2007 12:45pm Oct 15, 2007 12:45pm
Quoting TexasforEX
It's sitting on it currently at 117.17. good momentum for now but low volatility market hours upcoming might dissipate that.
Thanks. If the Dow sells off into the close them we´ll get another push down, if it does not, then I guess a retrace towards the 240 level.
Trading Levels with WRBs
  • #13,770
  • Oct 15, 2007 11:39pm Oct 15, 2007 11:39pm
Yesterdays initial sell off in the Dow - caused by some bad company results - did not follow through, so GJ retested its lows at 239.17 and bounced again - up to the 240 level that I mentioned.

This morning, we have UJ and GJ under their Daily Pivots and cable above its DP - although it has just tested it at the FO. Thus we have UJ bearish and GU bullish = conflict = range trading - again!

For several weeks now, I have been talking about two daily Time Lines in GJ that were due around now - actually yesterday +/- a day and as such put GJ in a period where it is more susceptible to change - either by accelerating an existing move or by changing direction.

So far, yesterday is the high of the long and laboured move off the August 17 low, so it is possible that it could be the start of a new move down. Time will tell.
Trading Levels with WRBs
  • #13,771
  • Edited 12:54am Oct 16, 2007 12:38am | Edited 12:54am
WOW - so immediatly after LO the Brits sold UJ and cable.....they went -90 and -60....so GJ dropped 220 in 28 minutes....yeeks!!

Edit: That teaches me not to be too greedy....after M2 (239.40) held in the Frankfurt hour, I was looking to sell around the Daily Pivot at 239.78 and was away from my screen for a few minutes - expensive minutes! The move stopped at todays S3 -237.17.....now to watch the retrace to the fibbos and pivots, looking to get an entry
Trading Levels with WRBs
  • #13,772
  • Oct 16, 2007 12:56am Oct 16, 2007 12:56am
Quoting Islander
WOW - so immediatly after LO the Brits sold UJ and cable.....they went -90 and -60....so GJ dropped 220 in 28 minutes....yeeks!!
LOL Islander,

Morning,

Late start for me today, but an unexpected suprise when I fired up my PC, just in time to close my short from last night just above a t/l off the daily chart. Thought I might be a a little premature, but looks like perfect timing.

Had expected to see it stopped out as I thought we would still be ranging or even moving up.

Flat now until I try to work out were this is going.
  • #13,773
  • Oct 16, 2007 12:59am Oct 16, 2007 12:59am
Quoting Islander
WOW - so immediatly after LO the Brits sold UJ and cable.....they went -90 and -60....so GJ dropped 220 in 28 minutes....yeeks!!

Edit: That teaches me not to be too greedy....after M2 (239.40) held in the Frankfurt hour, I was looking to sell around the Daily Pivot at 239.78 and was away from my screen for a few minutes - expensive minutes! The move stopped at todays S3 -237.17.....now to watch the retrace to the fibbos and pivots, looking to get an entry
Just read your edit: Oh no I was sure you would be short, I was lucky leaving half my short open from last night and not getting stopped out.
  • #13,774
  • Oct 16, 2007 2:31am Oct 16, 2007 2:31am
too bad mate, Most people only need a week

Quoting yudi2006
iam agree with a duke statment (The Duke says if you're not trading GBP/JPY right now you need to start ) cause my money at forex up to 100% trade at g/j very naice
  • #13,775
  • Oct 16, 2007 2:33am Oct 16, 2007 2:33am
this morning i was checking on hourly chart and waiting for rebounce to 23850 to short again. i waited waited waited nothing happened!
I though what ......and then i realised the rebouncewas done in 15 mins chart!
fuck, can only pick some from 780.....shit!
  • #13,776
  • Oct 16, 2007 2:56am Oct 16, 2007 2:56am
i missed out on the great short (was at college). oh well, there will be other opportunities
Twitter: @forexpokerpro
  • #13,777
  • Oct 16, 2007 3:04am Oct 16, 2007 3:04am
Couple of interesting observations: price came up past the 38.2 and reversed at the magenta t/l from the daily on the close and also with the rising 4h t/l. The candle close/open happened right on the 38.2.

The dark blue lines belong to a 4h channel, the dashed being the centre, looked like a good short there. Didn't take it though.
Attached Image (click to enlarge)
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  • #13,778
  • Edited 3:47am Oct 16, 2007 3:36am | Edited 3:47am
The lower t/l (also 237, S3 area) being the reason I closed my short this earlier this morning.

May go either way from here but this level breaks the next serious support being 235.5.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 4h 161007.gif Size: 32 KB
  • #13,779
  • Oct 16, 2007 5:30am Oct 16, 2007 5:30am
Quoting Wolf.
Just read your edit: Oh no I was sure you would be short, I was lucky leaving half my short open from last night and not getting stopped out.
Just to add to my joy, my platform locked up for about 5 mins of the drop, keeping me out of entering.....I was not a happy bunny! Still, the 50% retrace / M1 provided a good entry as I had suggested.
Trading Levels with WRBs
  • #13,780
  • Oct 16, 2007 8:19am Oct 16, 2007 8:19am
Quoting Islander
Just to add to my joy, my platform locked up for about 5 mins of the drop, keeping me out of entering.....I was not a happy bunny! Still, the 50% retrace / M1 provided a good entry as I had suggested.
feel sorry for u, mate

still any position on this pair?
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