Breeze....Update on GBP/JPY

i'm still learning uncle Breeze.....last yr i lost $5k.....what a teribble yr for me.now i just got little money in my acct to practise.....anyone want to give free money to me......hahahahahaha just kidding.....

What exactly is your sistem, Breeze? Would you share?


@40

Looks like we're going for the 204.50 price retest from January 23rd.

Good luck all.

TrevA

TrevA,

I would love to agree with you on the testing 204.50 again....but the fact of the matter is this....look at the daily candle....hello 214.00 here we come

Thanks Breeze, and it look like patience paid off for you. 32 lots!! wow,Did i read that right???

Hopefully our boat can reach 214 this time........

PearsonFX....

I must admit that price predictions are not my strong point so you are probably right about it hitting 214 rather than retesting 204.5.

However, having said that, I'm still very bearish on the cross. From December until mid Jan 2008 we were in a strong downtrend channel. On the 24th of Jan we had a very strong breakout of around 500 pips over two days... how can we forget those couple of days!!!

The price then formed another down trending channel which we are still in. Additionally, the cross has been in a clear downtrend since early October last year and it has not changed trend.

I'm looking at the daily candle but don't see what you see. Can you show me what you see that tells you 214 is immediate?

I see 204.50 or lower. Take a look at the chart attached.

Prediction
1. Bullish - only if price forms three consecutive highs above the red channel. Next Tuesday the 12 will be a very important day for GBP as the CPI figures will be released. The forecast is 2.3% up from 2.1%. If hit, this will increase interest rates and drive up prices, possibly causing a channel breakout to the upside.

2. Bearish - we are in a downtrending channel and have been in a downtrend since October last year. Retest of 204.5 next week... possibly Thursday or Friday session. On Wed 13th we receive the GBP BOE inflation report from the Bank of England. It's released quarterly and the last report in October projected a continued weakening of GBP against all other currences, namely the EUR, JPY and USD. Their prediction was correct. If they predict further weakening then we can expect the currency to continue it's downward slide into the middle of this year. The BOE inflation report is very important and it takes a few days for the markets to digest the mass of information released. That is why I predict a continued channel downtrend around Thursday or Friday once the markets fully comprehend the report.

Sorry for the lengthy analysis but I felt it was important to qualify my flippant 204.5 retest statement.

TrevA

TrevA,

Let me explain a little bit more about what I mean. I trade G/J on every swing that I get a signal, candlesticks are big no brainers as to where the market is going currently. I suggested 214.00 because that was the resistance that held a double top last week i believe, its very possible that it wont reach that though.

I do agree with you however that overall, the trend is down, I have U/J heading down to 102.00 area, its going to be a very choppy ride, it already has been, but it will continue. I also heard that BoJ is camping out at 106.00, which means it will hold higher for a little while, but eventually it will break.

the daily candle and the 4 hour gave me buy signals that I was able to get about 200 pips on. its a short term move, Im not expecting it to lead us back to 220.00 based on that. just a nice temporary move up.

In addition to that, my last trade on friday was a short from 209.80....good for 100+ pips, it may keep going as i speculate it will.

I try not to predict the future but I agree with your overall downtrend

Zack

Zack

I see your perspective now. Thanks for explaining it for me.

I tend to agree with your view about the price continuing to go down on Monday. Take a look at the ascending triangle on Thursday which resulted in an upside breakout. Now, look at the descending triangle for Friday... is this a high probability downside breakout formation or what! I think your 100+ pips will grow to 200+!!!!

Good luck and may you make thousands of pips.

TrevA
P.S. Breeze, i'm not hijacking your thread, just trying to share my view with your loyal followers and yourself. I hope it's useful.

Attached is my one minute chart for the next 2 days. Most of my calculations are time based. This is one of numerous charts that I have running.
You can have a look here for some results from last week. I have actually been running these charts for many many months.
http://www.fxsurfer.com/forums/showt...p?t=19&page=20

I use other charts for market direction, this is just something I run for some time points.

It needs to be put on a GMT server as all times were calculated using GMT time. Attached is ODL if you don't have a GMT server. This is for GBP/JPY but also works well on GBP/USD.
Would be happy if someone had a GMT server that was more consistent with data and no holes.

Hi Treva....keep doing a great job.....I like your style.

Breeze

long @

209.05...................active
209.10...................active
209.05 X 32............active
208.00...................active.....set a protective stop @ 208.50...Profits booked
208.20...................active

I was on Holidays everyone and no change in position....Good to be back.

Breeze

looks like a tempo sup @ 206.90

Yes those lots were the ones hedged last time.........its all mini lots...$1 per lot

long @

209.05...................active
209.10...................active
209.05 X 32............active
208.00...................active.....set a protective stop @ 208.50...Profits booked
208.20...................active
208.50...................waiting activation


Breeze

Good to see you back Breeze, I'm with you on the long boat, I'm expecting 217-223 in the coming weeks , patience will pay off hopefully

I HAVE A TARGET PROJECTION @ 214.00

long @

209.05...................active
209.10...................active
209.05 X 32............active
208.20...................active
208.50...................active
207.10...................active

Breeze

Goodmorning all.....I have just

Damn power loss....Ok heres what I did below...