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GBPJPY scalpers

  • #1,561
  • Mar 30, 2008 11:08pm Mar 30, 2008 11:08pm
Quoting malcolmb14
Bottom dropped out of futures and NIkkei
Just out of curiosity, will you post some of the other charts that you use on your new web site when it starts?
All that is left in FF is just plain garbage. "Cloggie"
  • #1,562
  • Mar 30, 2008 11:15pm Mar 30, 2008 11:15pm
Quoting tonyo524
Just out of curiosity, will you post some of the other charts that you use on your new web site when it starts?
Tony

It will be live trading .. with complete transparency of what i am doing and why , the charts will be shared , there will be market commentary and all members will be advised of what I am doing.

Could not resist a little 15 pips scalp before bed.

But I think this has alot more to go yet

198.82
198.43 (50% fib retrace)
and `198.05 (61.8% fib retracement) are likely targets
Blogging daily now at www.volume.zone
  • #1,563
  • Mar 30, 2008 11:20pm Mar 30, 2008 11:20pm
Quoting malcolmb14
Tony

It will be live trading .. with complete transparency of what i am doing and why , the charts will be shared , there will be market commentary and all members will be advised of what I am doing.

Could not resist a little 15 pips scalp before bed.

But I think this has alot more to go yet

198.82
198.43 (50% fib retrace)
and `198.05 (61.8% fib retracement) are likely targets
Ok thanks. my daily r1 says 198.45 I'm in short from 199.19
All that is left in FF is just plain garbage. "Cloggie"
  • #1,564
  • Mar 31, 2008 3:04am Mar 31, 2008 3:04am
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

scotty b is da man!!!!!!!!!!
  • #1,565
  • Mar 31, 2008 5:09am Mar 31, 2008 5:09am
Bouncing back to 198.50/80 before diving?Is it possible?
  • #1,566
  • Mar 31, 2008 5:13am Mar 31, 2008 5:13am
FYI

GBP/JPY Daily Outlook

Daily Pivots: (S1) 196.78; (P) 198.63; (R1) 199.72; More
No change in GBP/JPY's outlook. The cross continues to be bounded in choppy consolidation inside established range of 195.06 and 201.84. The structure of the price actions from 192.60 low so far suggests that this consolidation is set to extend further. Nevertheless, upside is still expected to be limited by 203.47 support turned resistance. On the downside, below 195.06 will be the first signal that such consolidation has completed. retest of 192.60 low should then be seen and break will confirm down trend from 241.35 has resumed for next downside target of 190.00 psychological level.
In the bigger picture, whole up trend from 148.19 should have ended at 251.09 already. Down trend from there is still in progress. Sustained break of 190 psychological level, which is close to 161.8% projection of 251.09 to 219.32 from 241.35 at 189.94, will set the stage for further decline towards the long term rising trend line support (now at 174.16).
However, above 203.47 resistance zone will indicate that fall from 241.35 has possibly completed. Retest of short term channel resistance (now at 206.13) should be seen first. Break will confirm this case and indicate that a medium term bottom is already in place.
  • #1,567
  • Mar 31, 2008 6:00am Mar 31, 2008 6:00am
Quoting Küster
Bouncing back to 198.50/80 before diving?Is it possible?
I am thinking that is where I want to get short for the ride down to 195.

Say sell one at 198.50, 198.65 and 198.80
Or if you can wait for it to hit 198.80 sell all your shorts there.

But let's wait and see how it pans out.

I also think the USD is in the trash this morning and am buying Kiwi long in the dips.

Elijah
  • #1,568
  • Mar 31, 2008 6:07am Mar 31, 2008 6:07am
The bull is getting weak at 198.30 50% fibo line that could be a good sign.
  • #1,569
  • Mar 31, 2008 6:36am Mar 31, 2008 6:36am
Quoting Küster
The bull is getting weak at 198.30 50% fibo line that could be a good sign.
This is what is drawing down GJ ATM.

I am playing GU long now waiting for small bounce back up so I can short GJ.

Elijah
  • #1,570
  • Mar 31, 2008 6:40am Mar 31, 2008 6:40am
Quoting rrram2
This is what is drawing down GJ ATM.

I am playing GU long now waiting for small bounce back up so I can short GJ.

Elijah
What would be a safe GJ target?
  • #1,571
  • Mar 31, 2008 6:50am Mar 31, 2008 6:50am
I think around 196.00
  • #1,572
  • Mar 31, 2008 6:56am Mar 31, 2008 6:56am
guys do not forget the financial stimulus package today coming up in 2 hours.

seems that gj is finding support on 50 sma on 5min
Blogging daily now at www.volume.zone
  • #1,573
  • Mar 31, 2008 6:59am Mar 31, 2008 6:59am
15 min has inside bar forming .. this is a bullish candle
Blogging daily now at www.volume.zone
  • #1,574
  • Mar 31, 2008 7:01am Mar 31, 2008 7:01am
Quoting Küster
What would be a safe GJ target?
I just got out of my GU long for a small profit.

I think GU has bottomed out and holding support at 198.10/20.
I think the trend is up for a short bit and as I said my plan is to short GJ when it hits 198.50 and again short at 198.65 and short again at 198.80

That way I will be short on 3 10K lots at 198.65.

As far as target I am looking down to 195, but will leave the target open for now if I am able to get in short.

I got tired of waiting for GU to come up, I still think GU will come up 100 pips+ which should draw GJ up to my planned short levels, Then I think once the bottom falls out of GU.

But I have no confirmations yet and have hardly looked at the charts.
  • #1,575
  • Mar 31, 2008 7:03am Mar 31, 2008 7:03am
Quoting malcolmb14
guys do not forget the financial stimulus package today coming up in 2 hours.

seems that gj is finding support on 50 sma on 5min
do u think that will bring GJ up ??


Thanks
Goodbadmas
  • #1,576
  • Mar 31, 2008 7:07am Mar 31, 2008 7:07am
Malcom, I am new to forex but have been watching your thread for some time. If I understand right the g/j tends to move w/ the ym. I see a uptrend since 3 am est. Good for g/j today if news is OK??
  • #1,577
  • Mar 31, 2008 7:10am Mar 31, 2008 7:10am
Puzzling?

Quoting rrram2
I

But I have no confirmations yet and have hardly looked at the charts.
Trade what you see - Not what you think
  • #1,578
  • Mar 31, 2008 7:20am Mar 31, 2008 7:20am
Quoting malcolmb14
guys do not forget the financial stimulus package today coming up in 2 hours.

seems that gj is finding support on 50 sma on 5min
And will carry GJ up?
  • #1,579
  • Edited 7:38am Mar 31, 2008 7:27am | Edited 7:38am
M, hi again.
Just want to let you know that the 50 sma added to my charts has made a huge difference to trend change confirmation and my profits.

I was always aware of MA's being favourites to FX traders.
Always hard to know which one for which time frame. You have been mentioning it a lot lately for the 5M so finally decided to listen.
Thanks.

Looking forward to visiting your new site.

regards,
Damo
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where thought goes energy flows
  • #1,580
  • Mar 31, 2008 7:39am Mar 31, 2008 7:39am
Hi all, I have been following and trading this thread quietly for the last few weeks with my mini account, and thanks first of all to Malcomx for the sharing of your analysis and thoughts, the long trade from this morning moved my account back into the black.

My one pips worth of thought is that this current congestion range, now 13 days old (all opens and closes within the 13/03 candle) is still relatively safe to trade and currently could favour an upside break if any, of the triple top of 201.78 due to the reluctance to test the earlier lows of the range.

In reality the only way we are going to know other than hindsight and no money, is by pulling the trigger (clicking the accept button) and putting your money where your view is - its either right or wrong.

I am currently favouring a short scalp while watching a 123 reversal failing on the 5 min.
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