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Daily GBP/JPY analysis

  • #13,881
  • Oct 31, 2007 4:55am Oct 31, 2007 4:55am
Hopefully it can hit my next resistance at 239.23
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  • #13,882
  • Oct 31, 2007 5:02am Oct 31, 2007 5:02am
Quoting DollaBill
Hopefully it can hit my next resistance at 239.23
Yep I hope so too R2 should be strong resistance now, not far to go mine is at 239.17.

After this move 239 may be a stumbling point.

Your chart looks like a windy day in GJ land.
  • #13,883
  • Oct 31, 2007 5:07am Oct 31, 2007 5:07am
Quoting Wolf.
Yep I hope so too R2 should be strong resistance now, not far to go mine is at 239.17.

After this move 239 may be a stumbling point.

Your chart looks like a windy day GJ land.
I guess the auto pivot indicator is a bit overkill Looks alot better without it, but looks like the downward spiral has started.
  • #13,884
  • Oct 31, 2007 5:17am Oct 31, 2007 5:17am
Quoting Wolf.
See how the price has climbed up this rising t/l this morning providing plenty of buying opportunities.

A break of this t/l may signal a retrace.
Wolf,

Just wondering what those indicators are that you use? Would you be able to pass those on?

Thanks
  • #13,885
  • Oct 31, 2007 5:57am Oct 31, 2007 5:57am
Quoting GerryV
Wolf,

Just wondering what those indicators are that you use? Would you be able to pass those on?

Thanks
Hi Gerry,

I am busy today so if you can bear with me I will get back to you.

Please point out any in particular you are interested in.

Cheers.
  • #13,886
  • Oct 31, 2007 10:14am Oct 31, 2007 10:14am
Here's the UJ bearish gartley 4h chart

http://img526.imageshack.us/img526/1083/ujzw4.gif
Trade what you see, not what you think.
  • #13,887
  • Oct 31, 2007 11:03am Oct 31, 2007 11:03am
Bearish Bat complete (as posted yesterday). I entered short at 239.45 for a retrace down. Playing this with strict MM.
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  • #13,888
  • Oct 31, 2007 11:16am Oct 31, 2007 11:16am
Quoting Zoran
Bearish Bat complete (as posted yesterday). I entered short at 239.45 for a retrace down. Playing this with strict MM.
Hi Zoran,

I think 240 is attainable before it goes south, I may be wrong it just seems such a good target and a lovely round number.

If it gets there I don't think it would go much higher in the short term.

Favouring the short side H5 is at 239.64 and price has just touched a rising t/l on the daily chart (close price), so this may provide resistance here.

If it goes south I will be joining you, still long from yesterday morning at the moment.
  • #13,889
  • Oct 31, 2007 11:23am Oct 31, 2007 11:23am
Title: GBP/JPY intraday: caution Summary: Update on supports and resistances. Story: Pivot: 238.53

Our preference: Long positions above 238.53 with targets @ 239.71 & 240.48 in extension.

Alternative scenario: Below 238.53 look for further downside with 237.74 & 236.84 as targets.

Comment: the pair and its intraday RSI lack upward momentum, a pull back could not be ruled out.

[IMG]file:///C:/Users/Mase/AppData/Local/Temp/moz-screenshot.jpg[/IMG]
  • #13,890
  • Oct 31, 2007 11:24am Oct 31, 2007 11:24am
I am still thinking up but I suspect this will retrace first so I am playing it tight. Cable seems to be stopping the fall at the moment.
  • #13,891
  • Oct 31, 2007 11:26am Oct 31, 2007 11:26am
it broke 200 ema and 100 sma on the daily today and all indicators are pointing up...
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  • #13,892
  • Oct 31, 2007 11:36am Oct 31, 2007 11:36am
I'll be taking one off around 239.10 and setting stop to be+1 on remaining
  • #13,893
  • Oct 31, 2007 11:42am Oct 31, 2007 11:42am
Seems to be a confluence of trend lines around here....gotta provide some resistance .
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  • #13,894
  • Oct 31, 2007 11:52am Oct 31, 2007 11:52am
Quoting Wolf.
Seems to be a confluence of trend lines around here....gotta provide some resistance .
Nice one. Some more walls in the way to hurt the bull's head.
  • #13,895
  • Oct 31, 2007 11:56am Oct 31, 2007 11:56am
Quoting Wolf.
Seems to be a confluence of trend lines around here....gotta provide some resistance .
makes sence - we are getting bounced off 239.59 - 239.67... maybe 239.50 is a good target for the longs? Openions are welcome
  • #13,896
  • Oct 31, 2007 12:54pm Oct 31, 2007 12:54pm
I might exit these trades as there is no clear direction now. I'll wait until after FOMC.
  • #13,897
  • Oct 31, 2007 2:21pm Oct 31, 2007 2:21pm
As Bravado would say

Cha-Ching!

240 a lovely number

What has happened to Bravado anyway?
  • #13,898
  • Oct 31, 2007 2:25pm Oct 31, 2007 2:25pm
Quoting Wolf.
As Bravado would say

Cha-Ching!

240 a lovely number

What has happened to Bravado anyway?

He became a pro .....
  • #13,899
  • Oct 31, 2007 3:25pm Oct 31, 2007 3:25pm
Does anyone see a retrace? Everything looks overbought
  • #13,900
  • Oct 31, 2007 4:21pm Oct 31, 2007 4:21pm
still looks bullish..i would be very careful with any shorts at this point.
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