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GBPJPY scalpers

  • #1,461
  • Mar 30, 2008 7:32pm Mar 30, 2008 7:32pm
Quoting malcolmb14
199.08 close , but rsi getting very overbought on 5 min

Think she is running out of steam
will we continue the bearish trend or it's just a retraction?
  • #1,462
  • Mar 30, 2008 7:35pm Mar 30, 2008 7:35pm
Nikkei dropping , ym dropping, gj going up.

Retracement coming ?

50 % of todays move would be 197.89
61.8% would be 197.64

If i take the short I will keep you all posted. Right now i do not have trigger on the 5 min
Blogging daily now at www.volume.zone
  • #1,463
  • Mar 30, 2008 7:37pm Mar 30, 2008 7:37pm
Quoting PandoraBox
Just wait 1 minute more
lol i should listen to u to wait for 1 more min... hit my SL -15pips
Sometimes in order to see the light, you have to risk the dark
  • #1,464
  • Mar 30, 2008 7:38pm Mar 30, 2008 7:38pm
Quoting malcolmb14
Nikkei dropping , ym dropping, gj going up.

Retracement coming ?

50 % of todays move would be 197.89
61.8% would be 197.64

If i take the short I will keep you all posted. Right now i do not have trigger on the 5 min
thanks malcolmb
  • #1,465
  • Mar 30, 2008 7:38pm Mar 30, 2008 7:38pm
Quoting dagoods
hey malcomb...jkeep up the good work..... no need to stress bro....





here is a scotty b experiment for ya'll to consider


if i did this right.... we may hit those bottm yellow lines at some point...but who knows...you will have to ask scotty



cheers
Those are all legitimate, The one you have drawn with the three lines worked out great! Isn't fascinating to see the market follow lines YOU draw? My only critique would be to flatten those angles a little bit. If things get to steep, price can have a really hard time catching up and inevitably won't. Try drawing a trend line from a low to another low and draw your ellipse on that as a guide; it's size is up to you!

Scotty B
  • #1,466
  • Mar 30, 2008 7:38pm Mar 30, 2008 7:38pm
Quoting PandoraBox
So where are we going now...M15 pointing up...H1 potentially pointing up...
YEar ends for Japanese makes for lots of yen selling or something
  • #1,467
  • Mar 30, 2008 7:42pm Mar 30, 2008 7:42pm
30 min there is 50 sma overhead

60 min gann fann and 20 sma overhead

Good resistance overhead here
Blogging daily now at www.volume.zone
  • #1,468
  • Mar 30, 2008 7:43pm Mar 30, 2008 7:43pm
U/J not giving up any - might be a run to 100
History is written by the victors.
  • #1,469
  • Mar 30, 2008 7:43pm Mar 30, 2008 7:43pm
Quoting rrram2
YEar ends for Japanese makes for lots of yen selling or something
Year end is scary in Japan . The banks took on a lot of sub prime loans. They have to report soon.
Blogging daily now at www.volume.zone
  • #1,470
  • Mar 30, 2008 7:44pm Mar 30, 2008 7:44pm
Quoting malcolmb14
30 min there is 50 sma overhead

60 min gann fann and 20 sma overhead

Good resistance overhead here
Is 50 sma the one you watch the most?
  • #1,471
  • Mar 30, 2008 7:45pm Mar 30, 2008 7:45pm
the 62EMA on the 60 minute chart....stopped dead on it.

If it does not break this it is going back down 198.95 is the break point
  • #1,472
  • Mar 30, 2008 7:48pm Mar 30, 2008 7:48pm
61.8% of march 28th high to Todays low is 199.09 ,

the fe 161,8 is 199.09

there is major resistance at 199.20

retest of bottom of the symmetrical triangle on the 2 hour

Some pretty good resistance to over come here.
Blogging daily now at www.volume.zone
  • #1,473
  • Mar 30, 2008 7:49pm Mar 30, 2008 7:49pm
Hi everyone, I like this thread a lot and here's my view on the gbp/jpy. We are still in the down channel from last October. Based on previous price movement I expect volatile market in the next days, with risk to the downside. Arrows 1 and 2 are pointing to two scenarios and I'm expecting something similar to happen. Looking for short entry around 201.80 which is double top in current rectangle. However, If price breaches 202 I will get very concerned (see horizontal lines).

Happy trading to all!
  • #1,474
  • Mar 30, 2008 7:49pm Mar 30, 2008 7:49pm
Hello traders,

Looks like GJ bounced nicely off the 197.16, that 50% retrace from the low to that peak at 201.80 couple weeks ago. Wouldn't that be neat if we go up from here... Comments?
  • #1,475
  • Mar 30, 2008 7:49pm Mar 30, 2008 7:49pm
Quoting cotoho
Is 50 sma the one you watch the most?
yes some traders use the 50 ema

but the 50 period moving average is the most talked about
Blogging daily now at www.volume.zone
  • #1,476
  • Mar 30, 2008 7:50pm Mar 30, 2008 7:50pm
Ellipse drawn with market angle. A close below the trend line..She'll be back with a vengeance to touch that middle yellow line. Because I used a low market angle it should not be a problem for this line to be touched. I like the down sloped trend lines because the longer it takes to happen the more pips you make. It's an angry trend line that charges interest!
Attached Image (click to enlarge)
Click to Enlarge Name: mal.gif Size: 15 KB
  • #1,477
  • Mar 30, 2008 7:50pm Mar 30, 2008 7:50pm
Becareful who going for short because H1 candle so strong. GJ already break ALL hourly resistance. London open will push GJ higher
  • #1,478
  • Mar 30, 2008 7:50pm Mar 30, 2008 7:50pm
Who lit a fire under this thing???
Price does what price wants , I just need to be prepared.
  • #1,479
  • Mar 30, 2008 7:52pm Mar 30, 2008 7:52pm
Quoting malcolmb14
61.8% of march 28th high to Todays low is 199.09 ,

the fe 161,8 is 199.09

there is major resistance at 199.20

retest of bottom of the symmetrical triangle on the 2 hour

Some pretty good resistance to over come here.


GJ already brreak the major resistance.
  • #1,480
  • Mar 30, 2008 7:52pm Mar 30, 2008 7:52pm
oops, forgot to attach the graph
Attached Image (click to enlarge)
Click to Enlarge Name: trend12.gif Size: 23 KB
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