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GBPJPY scalpers

  • #1,241
  • Mar 27, 2008 9:50pm Mar 27, 2008 9:50pm
Wasn't able to jump in here this morning. The boss had other plans for me (wife). I see that every one is interested in longing this beast. I just wanted to agree with Malcomb about the pattern repetition thats been going on for the last month and a half. It's been fun to watch the thing make identical like moves. I plotted what I think could possibly happen again according to this pattern. I'm sitting out for now to see what she'll do. If she follows the ole pattern it will definitely be short pretty soon.

Scotty B
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  • #1,242
  • Mar 27, 2008 9:58pm Mar 27, 2008 9:58pm
Wow .. did u guys see that? What kind of move is that? It looks very bullish to me now ..
  • #1,243
  • Mar 27, 2008 10:03pm Mar 27, 2008 10:03pm
If she can make a decent move up out of the blue box, I would say the pattern is a no go this time around.
  • #1,244
  • Mar 27, 2008 10:05pm Mar 27, 2008 10:05pm
Quoting malcolmb14
I meant sell we are in a primary downtrend

going long increases your risk of a losing trade by 100%

The trend is your friend
I took less than 10 pips on three minis, I was going to sell it at the top but I had hoped it was going to have some more upward thrust. Oh Well.
Meager pips this evening. Until Asia comes in
  • #1,245
  • Mar 27, 2008 10:09pm Mar 27, 2008 10:09pm
Quoting malcolmb14
I meant sell we are in a primary downtrend

going long increases your risk of a losing trade by 100%

The trend is your friend
Trend is changing?
  • #1,246
  • Mar 27, 2008 10:12pm Mar 27, 2008 10:12pm
long wick on the last 15m candle, two dojis on the 5m, below the 50sma, RSI turning down but still above 50. Short time? It's killing me to stay out of scalping these long trades. Just what I need is a mentor to keep me from entering when I should not. Thanks Malcom and Scotty!
  • #1,247
  • Mar 27, 2008 10:16pm Mar 27, 2008 10:16pm
Wonder why we dont do as much analysis of cable?

Isnt GPB/JPY just the sum of the movements on the cable and USD/JPY?
Attached Image (click to enlarge)
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  • #1,248
  • Mar 27, 2008 10:22pm Mar 27, 2008 10:22pm
Quoting griz
long wick on the last 15m candle, two dojis on the 5m, below the 50sma, RSI turning down but still above 50. Short time? It's killing me to stay out of scalping these long trades. Just what I need is a mentor to keep me from entering when I should not. Thanks Malcom and Scotty!
No, this is a very bullish movement IMO. This could be a 700 pips move according to Malcolmb
  • #1,249
  • Mar 27, 2008 10:22pm Mar 27, 2008 10:22pm
I knew I should have got in lower or held on to those other LONGS.

Anyways I put my orders in and I'm going to bed.

Someone scalp during asia in my place please
  • #1,250
  • Mar 27, 2008 10:24pm Mar 27, 2008 10:24pm
We've got some important housing data out at the London open on the GBP.
That should give her a nice little kick in the knickers!
  • #1,251
  • Mar 27, 2008 10:26pm Mar 27, 2008 10:26pm
Quoting rrram2
I knew I should have got in lower or held on to those other LONGS.

Anyways I put my orders in and I'm going to bed.

Someone scalp during asia in my place please
make sure you have tight stops in. Remember it's Friday....anything can happen.:surprised

Bless
Patience + Discipline - Greed = Success
  • #1,252
  • Mar 27, 2008 10:26pm Mar 27, 2008 10:26pm
I can't sit on my hands and watch a 700 pip move happen. Do I have to really, or is there a safe long entry point?
  • #1,253
  • Mar 27, 2008 10:28pm Mar 27, 2008 10:28pm
I see a lot of resistance in 200.20 area on the 60 min
  • #1,254
  • Mar 27, 2008 10:29pm Mar 27, 2008 10:29pm
Quoting griz
long wick on the last 15m candle, two dojis on the 5m, below the 50sma, RSI turning down but still above 50. Short time? It's killing me to stay out of scalping these long trades. Just what I need is a mentor to keep me from entering when I should not. Thanks Malcom and Scotty!
Unless you are trying to lose yours
  • #1,255
  • Mar 27, 2008 10:32pm Mar 27, 2008 10:32pm
There's been a clear break of the channel we were trapped in the for the last 8 hours. Additionally, price has sustained itself about the psychological barrier that is the 200 price level. My 1H chart has the RSI primed to move up and, if I'm correct, one of M's 1-2-3 buy triggers.

I think that, at least for the time being, we're going to see some upwards movement. Will it prevail and stick around for a longer period? I'm not good enough to predict that yet.

I've got a buy order in with a TP at the 61.8 FE (~200.70) and a SL @ 199.70.

edit: 200.70 is also an area that will put up some good resistance, IMHO. If it manages to break that, I don't see much stopping it again until it gets to 201.60. Both the 100 FE and a 1H upwards trendline resistance level meet there.
  • #1,256
  • Mar 27, 2008 10:33pm Mar 27, 2008 10:33pm
Quoting FXStarShip
I see a lot of resistance in 200.20 area on the 60 min
. We will see. I aint getting in deep on this one.
I would like to be awake at 3am EDT when the housing data comes out,
so I need a few hours nap. But she has went up OVER 100 pips now over
what 150 minutes?. Shes busting North ATM ttyl
  • #1,257
  • Mar 27, 2008 10:38pm Mar 27, 2008 10:38pm
Quoting rrram2
. We will see. I aint getting in deep on this one.
I would like to be awake at 3am EDT when the housing data comes out,
so I need a few hours nap. But she has went up OVER 100 pips now over
what 150 minutes?. Shes busting North ATM ttyl
I think the trend has changed for sure and its going to continue up for now.
  • #1,258
  • Mar 27, 2008 10:49pm Mar 27, 2008 10:49pm
half naked chart.....

- Take a look at each of the month end daily candles for the past 3 months.
- We have had a bullish week this week, profit taking coming
- Dow is falling, us outlook not looking to improve anytime soon
- Pound looks set to fall anytime now
-
I think between now and Monday we will have a big fall with some noise in between.

201.5 will probably be the make or break point. I think it will go down but lets see what happens.

I'll be scalping in the interim.
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Patience + Discipline - Greed = Success
  • #1,259
  • Mar 27, 2008 10:50pm Mar 27, 2008 10:50pm
Quoting alearner
Wonder why we dont do as much analysis of cable?

Isnt GPB/JPY just the sum of the movements on the cable and USD/JPY?
I have analyzed the GU a little bit and am very bullish long term pending the housing daTA AT 3AM EDT. and UJ is stagnating in a tight range so it doesn't matter as much since its right at parity. As long as the GBP continue to rise ( and it will) GJ will rise as UJ stagnates. I expect GU to Sail up from current levels of 200.75 to test 201.80 before close tomorrow.

Just my 2 cents. I used to play GU ALOT and for the longest time that was my only pair. So lets see what she does.
  • #1,260
  • Mar 27, 2008 10:55pm Mar 27, 2008 10:55pm
Quoting rrram2
I think the trend has changed for sure and its going to continue up for now.
The Niki went from roughly 0% to 1% in a couple of minutes after their lunch which explains the spike...its calmed down since.
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