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Breeze....Update on GBP/JPY

  • #641
  • Nov 23, 2007 5:20am Nov 23, 2007 5:20am
I was wondering of that as well. Even though i cant make an analysis myself, i make it up by reading analysis and analyse them again before entering a trade. So far, Ive been convinced that GJ is going north, as it just break the support level at 222.xx .

Ele, its better if you post your analysis here so that we can share and make something out of it with everyone else.
  • #642
  • Nov 23, 2007 5:33am Nov 23, 2007 5:33am
Quoting sony
How downward is over?
Maybe we hit the bottom of the bottom of channel on the monthly chart and possibly a bounce may happen? Who knows
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  • #643
  • Edited 11:58pm Nov 24, 2007 10:29pm | Edited 11:58pm
Quoting ele
Now we can LONG GBP/JPY,target 232, a new up move starts.
Hope Breeze has not hedged all positions,downward is over,ok?

regards,
Ele

I have 231.08
But thats on the Daily and down the road.
Near term I have resistance we just passed at 223.03, MACD has crossed up including histogram. I have the next resistance marked at 223.92 and then 224.26 followed by 224.53 then a big one at 225.02.

We'll just have to wait and see if this new uptrend holds since it's still in its infantsy.
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #644
  • Nov 25, 2007 5:42pm Nov 25, 2007 5:42pm
Quoting TraderJoe
I have 231.08
But thats on the Daily and down the road.
Near term I have resistance we just passed at 223.03, MACD has crossed up including histogram. I have the next resistance marked at 223.92 and then 224.26 followed by 224.53 then a big one at 225.02.

We'll just have to wait and see if this new uptrend holds since it's still in its infantsy.
What are you reading my mind? Ha im expecting a bounce from your last level for one more steam down this week, at least to get some more legs. USD/JPY is looking way too overbought on the stoc for my liking. But we both know this market doesnt always follow logic!
Lemming Forex! The Way to Trade....
  • #645
  • Edited 7:11pm Nov 25, 2007 6:41pm | Edited 7:11pm
Quoting Putto
What are you reading my mind? Ha im expecting a bounce from your last level for one more steam down this week, at least to get some more legs. USD/JPY is looking way too overbought on the stoc for my liking. But we both know this market doesnt always follow logic!

Well... we have a reverse hidden diver on usdjpy to help carry its current trend higher, then there is good support at 108.48 which will probably hold so I would not count out the possibility that this OB is a uptrend what could carry jpy into the 109.25 (correction 109.09) area. But then again, anything could happen well have to watch closely.

Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #646
  • Nov 25, 2007 8:35pm Nov 25, 2007 8:35pm
long @
227.50................active
226.50................active
227.00................active
226.22................active
226.50................active
226.75................active
227.25................active
226.40 X 5...........active
226.00.................waiting activation
225.00................active
224.15................active
222.90................active......set a protective stop @ 224.00

target projection @ 230.00 - 231.00.....we have hit the low of 222.80 where we made a "U" turn.......thus making the upside potential towards 229.00 the next stop.....a break above here will lead us to 231.00.....where we will make another stop for a "U" turn according my projection......I'll be here 24/7 during these week....as I have to make up for lost time.....

Profitable trading
Breeze

Breeze
  • #647
  • Nov 25, 2007 8:38pm Nov 25, 2007 8:38pm
Quoting Mr. G.
The 224 level has been penetrated. I assume your hedges have been activated. What would be the TP for those hedges?

How and when do you neutralize those hedges? I have blown a few accounts in the past by getting overextended in a hedge situation by taking hedge profits at the wrong time and re-entering them again at bigger extension, those increasing the distance between long and short to the point where I had no more room to maneuver...

I am long @
227.39 and
224.44

hedged all my longs @ 223.91.

I would love to learn proper hedge management from you

Thanks
Unfortunately my hedges were cancelled @ 224.00....i only hedged @ 223.60....and closed all hedges @ 222.90....where I added one more long position....I should have kept my plan....

Breeze
  • #648
  • Edited 8:42pm Nov 25, 2007 8:40pm | Edited 8:42pm
Quoting O'Zeeke
Maybe we hit the bottom of the bottom of channel on the monthly chart and possibly a bounce may happen? Who knows
Good analysis there O'Zeeke.........iits acutually good to look at all time frames....cause they're all have a meaning of some sort in the market....keep it up.

Breeze
  • #649
  • Nov 25, 2007 8:43pm Nov 25, 2007 8:43pm
Quoting Breeze
Unfortunately my hedges were cancelled @ 224.00....i only hedged @ 223.60....and closed all hedges @ 222.90....where I added one more long position....I should have kept my plan....

Breeze
Nice to see you back man.

The next few hours will tell alot about the next day or so. Lets see how we are going to make money....

FYI i am Bearish short term (although this is borderline at the moment)...Bull mid term...Bearish long term
Lemming Forex! The Way to Trade....
  • #650
  • Nov 25, 2007 8:46pm Nov 25, 2007 8:46pm
Quoting TraderJoe
Well... we have a reverse hidden diver on usdjpy to help carry its current trend higher, then there is good support at 108.48 which will probably hold so I would not count out the possibility that this OB is a uptrend what could carry jpy into the 109.25 (correction 109.09) area. But then again, anything could happen well have to watch closely.

......tell AF to come over we need he's chart and analysis for the USD/JPY.

Breeze
  • #651
  • Nov 25, 2007 8:49pm Nov 25, 2007 8:49pm
Quoting Breeze
Unfortunately my hedges were cancelled @ 224.00....i only hedged @ 223.60....and closed all hedges @ 222.90....where I added one more long position....I should have kept my plan....

Breeze
Thanks, Breeze. I have closed my headge @ 222.50, but I have initiated another one @ 224.13 as the price is bounced off a strong down trend line on the 30 min. chart... If it breaks the down trend - I will close the headge
  • #652
  • Nov 25, 2007 8:50pm Nov 25, 2007 8:50pm
Quoting Putto
Nice to see you back man.

The next few hours will tell alot about the next day or so. Lets see how we are going to make money....

FYI i am Bearish short term (although this is borderline at the moment)...Bull mid term...Bearish long term
I'm soooooooooooo mad I could'nt stick to my plan.....I watched it go down helplessly....and when I hedged was too late....now I remember that I have to stick to my plan and trade my plan.....Damn I could have made a killing by now

Breeze
  • #653
  • Nov 25, 2007 8:52pm Nov 25, 2007 8:52pm
Quoting Mr. G.
Thanks, Breeze. I have closed my headge @ 222.50, but I have initiated another one @ 224.13 as the price is bounced off a strong down trend line on the 30 min. chart... If it breaks the down trend - I will close the headge
I'm glad you sticked to the plan.....I should have done the same.....keep up the good work.

Breeze
  • #654
  • Nov 25, 2007 8:59pm Nov 25, 2007 8:59pm
hedged @ 224.00

Breeze
  • #655
  • Nov 25, 2007 9:01pm Nov 25, 2007 9:01pm
Quoting Breeze
long @
227.50................active
226.50................active
227.00................active
226.22................active
226.50................active
226.75................active
227.25................active
226.40 X 5...........active
226.00.................waiting activation
225.00................active
224.15................active
222.90................active......set a protective stop @ 224.00

target projection @ 230.00 - 231.00.....we have hit the low of 222.80 where we made a "U" turn.......thus making the upside potential towards 229.00 the next stop.....a break above here will lead us to 231.00.....where we will make another stop for a "U" turn according my projection......I'll be here 24/7 during these week....as I have to make up for lost time.....

Profitable trading
Breeze

Breeze
222.90.....protective stop hit @ 224.00....profits booked....Now hedged all @ 224.00.

Profitable trading
Breeze
  • #656
  • Nov 25, 2007 9:04pm Nov 25, 2007 9:04pm
GJ just dropped a 100 pip any idea on what triggered the dip
  • #657
  • Nov 25, 2007 9:07pm Nov 25, 2007 9:07pm
Quoting vinesh2
GJ just dropped a 100 pip any idea on what triggered the dip
God smacking me in the face.

Seriously... that was one of the strangest dips I've seen on no news. All of the JPY pairs took a dip in 5 minutes and some of the pairs already regained the losses in the next 2-3 mins.
  • #658
  • Nov 25, 2007 9:10pm Nov 25, 2007 9:10pm
theres a minor lvl of support @ 108.20 on USD/JPY that has held very firmly if that lvl gets hit then we have a target of 222.00 on GBP/JPY.....strong suport comes in @ 107.90...lets see if bears target this lvl too.

Breeze
  • #659
  • Nov 25, 2007 9:11pm Nov 25, 2007 9:11pm
Quoting Mr. G.
...I have initiated another headge @ 224.13 as the price is bounced off a strong down trend line on the 30 min. chart... If it breaks the down trend - I will close the headge
GJ retraced 38.2% protective stop +3 @ 224.10 with a trailing stop for each 100 pips down
  • #660
  • Nov 25, 2007 9:12pm Nov 25, 2007 9:12pm
Quoting vinesh2
GJ just dropped a 100 pip any idea on what triggered the dip
Turn on the news, just becuase there's no announcement, news always happens. or CNN, Fox news, etc.
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