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GBPJPY scalpers

  • #2,281
  • Apr 8, 2008 11:23pm Apr 8, 2008 11:23pm
Quoting malcolmb14
30 min this is a bear flag

assuming that the low of Sunday is not going to be broken to the upside ( 202.3) , which also forms the 50 sma on the 30 min down side targets are

201.03
200.65
200.3
199.7 (78.6)
199
198.14(if 78.6% this broken this could be target)

Attachment
opps wrong chart and bear flag broken

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyflag01.png Size: 208 KB
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  • #2,282
  • Apr 8, 2008 11:59pm Apr 8, 2008 11:59pm
Quoting malcolmb14
opps wrong chart and bear flag broken

Attachment

i think GJ will drop to 199.
expecting GJ weak like yesterday
  • #2,283
  • Apr 9, 2008 12:29am Apr 9, 2008 12:29am
Quoting ak4x
Malcolmb, for clarification if you don't mind, do you calculate dailys for each session, or for the 24 hr period and if so, beginning when?

Hi - as Malcolmb has clarified that his pivots are calculated on a daily basis, you might find the attached pivot indicator useful.

For good info on the use of pivots, go to the UJ thread, about last July and look up the posts by Dove Alliance - he gave some great explainations on their use....http://www.forexfactory.com/images/icons/icon12.gif
Attached File(s)
File Type: mq4 SDX-TzPivots.mq4   23 KB | 310 downloads
Trading Levels with WRBs
  • #2,284
  • Apr 9, 2008 6:19am Apr 9, 2008 6:19am
I got longer overnight at 201.30 and 201.39 which I have already sold.
I am still long on 10 others and nothing here is showing down.

ITs steeply going very north ATM.

Where are the shorts?
  • #2,285
  • Apr 9, 2008 6:24am Apr 9, 2008 6:24am
Quoting rrram2
Where are the shorts?
They remembered that it is Triple Interest Wednesday
  • #2,286
  • Edited 7:26am Apr 9, 2008 6:33am | Edited 7:26am
The new break out above 202.25 changes everything I think.
It looks like it is going to be a bullish day for GJ. There is no more significant GBP or JPY news coming out.

I don't know why or how she is continueing up, but she is.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ60MIN.JPG Size: 199 KB
  • #2,287
  • Apr 9, 2008 6:35am Apr 9, 2008 6:35am
Don't know why I always forget about triple interest wednesdays.
Patience + Humility + Study = Success
  • #2,288
  • Apr 9, 2008 6:40am Apr 9, 2008 6:40am
Quoting DutchTrader
Don't know why I always forget about triple interest wednesdays.
As soon as I see bulls gaining a foothold on Wednesdays I jump with reckless abandonment. And the 1hr divergence was all I needed to get long. Obviously it doesn't always pan out, but it sure is nice when it does.
  • #2,289
  • Apr 9, 2008 6:42am Apr 9, 2008 6:42am
Its crazy that the double bottom on the 2 MIN from yesterday held at 201.47, and the hourly had a low of 201.47 too, which obviously ran up 100+ pips.

I am targeting 204 next on my longs, then 205.

Good luck with those shorts!
  • #2,290
  • Apr 9, 2008 6:42am Apr 9, 2008 6:42am
Quoting txfx
As soon as I see bulls gaining a foothold on Wednesdays I jump with reckless abandonment. And the 1hr divergence was all I needed to get long. Obviously it doesn't always pan out, but it sure is nice when it does.
Good call, might get 203 today
Patience + Humility + Study = Success
  • #2,291
  • Apr 9, 2008 7:19am Apr 9, 2008 7:19am
when bernanke speaks dont the markets usually tumble. my charts say bullish but with him speaking i dont want to be whipsawed
  • #2,292
  • Apr 9, 2008 7:35am Apr 9, 2008 7:35am
DJIA headed down
Patience + Humility + Study = Success
  • #2,293
  • Apr 9, 2008 11:12am Apr 9, 2008 11:12am
Malcolmb is MIA today?

Update on the room?
  • #2,294
  • Apr 9, 2008 1:58pm Apr 9, 2008 1:58pm
Last week I forecast that Gbpjpy would hit 198.

I was short from 204 and I just closed my 4 shorts - might be a mistake but I don't want to get too greedy.

I still think it'll go to 198 and I may short again if it pulls back.
  • #2,295
  • Apr 9, 2008 8:03pm Apr 9, 2008 8:03pm
According to 3 mirror images, including one on a 4 hour chart, it looks like the Jp, at 18:00 PDT, at 200.13, is about as low as it will go for now.

I have support at 199.73, according to the JNR, but some of you may have other targets.

Now, I will use Uncle M's technique of waiting for a visual confirmation before jumping on

My 2c again..
  • #2,296
  • Apr 9, 2008 8:56pm Apr 9, 2008 8:56pm
Its looking like you're right.

But Uncle M uses that esignal RSI trigger and enters 15 pips above the high of the trigger bar.
  • #2,297
  • Apr 9, 2008 9:10pm Apr 9, 2008 9:10pm
That short trigger worked well earlier. I closed for 45 pips.

Now on a 5 min chart we have 71.8% fib extension at 199.84.

Should it break down 199.80 , the fib extension level, 198.97 is a likely target.

However the 60 min does look like a doji is forming and may signal a retracement up to 200.76 / 201.11

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy25.png Size: 175 KB
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  • #2,298
  • Apr 9, 2008 9:11pm Apr 9, 2008 9:11pm
Quoting zebra7860
According to 3 mirror images, including one on a 4 hour chart, it looks like the Jp, at 18:00 PDT, at 200.13, is about as low as it will go for now.

I have support at 199.73, according to the JNR, but some of you may have other targets.

Now, I will use Uncle M's technique of waiting for a visual confirmation before jumping on

My 2c again..
Would you mind posting some charts or a link so I could read up on what you are referring to?
  • #2,299
  • Apr 9, 2008 10:17pm Apr 9, 2008 10:17pm
Cotoho,

I am using a method developed by Mike Jenkins. He says that at various junctures of the market, you will get a mirror image where the left side of the foldback pivot on a chart will equal the right side, but sometimes it may invert and most of the time it is in a 3D format. If it were as simple as measuring left = right side, we would all be millionaires.

There are ways to calculate this foldback point because there is a cause and effect in everything in life, and that cause and effect is especially relevant in the market, but that cause and effect is esoteric and not easily discussed.

Nonetheless, if you look over your charts over and over you will see such foldback points. They usually, but not always, occur at tops and bottoms, and many times in the middle of such a formation such as a "M" or "W" pattern. I will try to post more examples as time goes by, but apologize for not doing so this time because I was lazy.

Al
  • #2,300
  • Apr 10, 2008 5:13am Apr 10, 2008 5:13am
Hey M, Would like to give your room a spin. Any room left?
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