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GBP/JPY for QQE Traders!

  • #601
  • Jan 24, 2008 11:14pm Jan 24, 2008 11:14pm
We haven't had a 4hr 5sma retrace in quite awhile. It's about 100 pips below current price. Have a great London session. My shift is over!
  • #602
  • Jan 24, 2008 11:26pm Jan 24, 2008 11:26pm
thanks cruiser.. =) i made an additional 50+ pips with your advise on london open.. lets hope the bull will go on till 215.. =p thanks man.. cya.
  • #603
  • Jan 25, 2008 12:50am Jan 25, 2008 12:50am
Current price is 213.50

The bulls have just hit an intraday high of 214.04 (bid). There is heavy resistance from 214.10 - 214.50. On my 5M charts I can see bears starting to move down.

15M QQE5 has just crossed down (bears). Bear Zone starts from 212.50 - 213.00. Keep an eye on this area if bears move down.
  • #604
  • Jan 25, 2008 1:24am Jan 25, 2008 1:24am
Current price is 213.31

QQE5 is still crossed up (bullish) and price is above 5sma on 1H charts. If price moves to the 212.30 - 212.50 range you may see price getting bearish on the 1H. More likely than not we may see a bears TWINs trade in this zone. In the meantime 1H Charts is still bullish.

1H Momentum (10) is still bullish. Keep an eye on Momentum - if it turns down and pass 50% the bulls are losing strength in the short-term.
  • #605
  • Jan 25, 2008 1:35am Jan 25, 2008 1:35am
any chance GJ will go down? coz i am 2 lots in short
  • #606
  • Jan 25, 2008 1:37am Jan 25, 2008 1:37am
Hi lyy.sg. I've just written some analysis above - hope that helps you. What do your charts tell you?

I'm short from 213.80 and in a free trade (stop loss at breakeven).

Quoting lyy.sg
any chance GJ will go down? coz i am 2 lots in short
  • #607
  • Jan 25, 2008 1:58am Jan 25, 2008 1:58am
down to 210, maybe lower.
short from 213 to 210 TP, 3 lots.

in profit, SLs set to BE.

1H QQE is about to cross down and my Zero Lag Stoch has already crossed down...... we're sliding..... hopefully to at least 210.

DP is 210.36 and 100 SMA is 208.36
Daily 5SMA is 209.73 and also the 61.8 Fib retracement line.

So, I think my 210 will be hit and I'll be happy.

Another 3am night and up at 7am......damn.... at least I sleep for 2 days after tomorrow......
  • #608
  • Edited 2:14am Jan 25, 2008 2:13am | Edited 2:14am
it must go below 212.70 to go down ... and short confirmation is 211.86 otherwise its still long and we can buy from dip
  • #609
  • Jan 25, 2008 2:35am Jan 25, 2008 2:35am
Current price is 213.30

My 1H QQE5 is still bullish (crossed up). Price has been in a 50pip range for nearly two hours. The bulls are strong in the 213.00 area and not giving up a fight. I think any move down is a retracement and not a reversal (yet).


Quoting kujo17
1H QQE is about to cross down and my Zero Lag Stoch has already crossed down...... we're sliding..... hopefully to at least 210.
  • #610
  • Jan 25, 2008 2:36am Jan 25, 2008 2:36am
Quoting deboooo2005
it must go below 212.70 to go down ... and short confirmation is 211.86 otherwise its still long and we can buy from dip
what is the 212.70 significance ?
  • #611
  • Jan 25, 2008 2:39am Jan 25, 2008 2:39am
Quoting Sith Lord
Current price is 213.30

My 1H QQE5 is still bullish (crossed up). Price has been in a 50pip range for nearly two hours. The bulls are strong in the 213.00 area and not giving up a fight. I think any move down is a retracement and not a reversal (yet).
the Zero Lag Stochastics indicator I have has always crossed over just a touch before the QQE has, but it always follows.........

But nothing would suprise me with this pair, after this week.
  • #612
  • Jan 25, 2008 2:40am Jan 25, 2008 2:40am
Here is my scenario :
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 25 KB
  • #613
  • Jan 25, 2008 2:40am Jan 25, 2008 2:40am
I've got 212.40 - 212.50 for any strong moves down. We are currently 100pips away from there. I'm only (short-term) bearish because price has broken below an inner trend line. Bears need to break 213.00 for any action.

Quoting deboooo2005
it must go below 212.70 to go down ... and short confirmation is 211.86 otherwise its still long and we can buy from dip
  • #614
  • Jan 25, 2008 2:44am Jan 25, 2008 2:44am
Quoting Pirin
Here is my scenario :
What's the interpretation on your daily chart Pirin ? I can see your bear channel and QQE5 is bullish on daily. What else are you trying to share?
  • #615
  • Jan 25, 2008 2:52am Jan 25, 2008 2:52am
Quoting Sith Lord
I've got 212.40 - 212.50 for any strong moves down. We are currently 100pips away from there. I'm only (short-term) bearish because price has broken below an inner trend line. Bears need to break 213.00 for any action.
is that a fib?
R1 is at 212.21
What else is around there for support ?
  • #616
  • Jan 25, 2008 2:52am Jan 25, 2008 2:52am
long @ 212.83 ... sl 212.65 ... tp 215
  • #617
  • Jan 25, 2008 2:55am Jan 25, 2008 2:55am
Quoting Sith Lord
What's the interpretation on your daily chart Pirin ? I can see your bear channel and QQE5 is bullish on daily. What else are you trying to share?
I see this and next week as a retracement. On the weekly chart the gbp/jpy fell 2032 pips for 5 weeks in a row, and what we see now is the gbp using the markets calm to get a breath. The fact that BoE didn't cut the rates and the FED doing it with 0,75 was the trigger for it. As I see it, there are no news that would stop the rally until Wednesday, where I do expect negative forecast on the GDP, but even by neutral stance, the next rate cut by the FED will trigger the next drop. I'm only using the QQE5 with some EMA's to find the entry points, my forecast is not based entirely on it. But USA is entering a recession and there is no way that the gbp will continue growing in the long term. That's my opinion.
  • #618
  • Jan 25, 2008 3:00am Jan 25, 2008 3:00am
Quoting kujo17
is that a fib?
R1 is at 212.21
What else is around there for support ?
Real simple. The 5sma on the 1H chart is my bias. Price above = bullish. Price below = bearish.

Two hours ago price had to be below 212.60 for any bullish bias to shift to bears. I add in 20 pips "buffer" to get a bear zone of 212.40-212.50. No pivots.
  • #619
  • Jan 25, 2008 3:01am Jan 25, 2008 3:01am
Good luck deboooo. What was your entry trigger ?

Quoting deboooo2005
long @ 212.83 ... sl 212.65 ... tp 215
  • #620
  • Jan 25, 2008 3:03am Jan 25, 2008 3:03am
good stuff. keep up the analysis.

Quoting Pirin
I see this and next week as a retracement. On the weekly chart the gbp/jpy fell 2032 pips for 5 weeks in a row, and what we see now is the gbp using the markets calm to get a breath. The fact that BoE didn't cut the rates and the FED doing it with 0,75 was the trigger for it. As I see it, there are no news that would stop the rally until Wednesday, where I do expect negative forecast on the GDP, but even by neutral stance, the next rate cut by the FED will trigger the next drop. I'm only using the QQE5 with some EMA's to find the entry points, my forecast is not based entirely on it. But USA is entering a recession and there is no way that the gbp will continue growing in the long term. That's my opinion.
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