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GBP/JPY Trendline Traders

  • #41
  • May 1, 2008 10:51pm May 1, 2008 10:51pm
yaaaaaaaawnn, when do we see a break here.
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  • #42
  • May 2, 2008 2:59am May 2, 2008 2:59am
Quoting forexlion
New Signal received at 3 GMT

1 hour uptrend
excellent !!!
  • #43
  • May 2, 2008 3:35am May 2, 2008 3:35am
Quoting forexlion
yaaaaaaaawnn, when do we see a break here.
patience pays.

Most speculation is Wave 4 will complete at 211-214 area, that would mean the triangle breaks UPward, what do you think?
Money & Pain Respect the market, protect your capital, be patient
  • #44
  • May 2, 2008 3:50am May 2, 2008 3:50am
Quoting toyboy tramp
patience pays.

Most speculation is Wave 4 will complete at 211-214 area, that would mean the triangle breaks UPward, what do you think?
methinks 218 if breaks

just follow ur long with SL and let fly.

this is 4H
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  • #45
  • May 2, 2008 4:12am May 2, 2008 4:12am
but then i am gonna close before nfp and sleep

i am not taking chances with nfp

i am tired, i have not slept in over a 100 years, cya on monday.
  • #46
  • May 2, 2008 4:28am May 2, 2008 4:28am
USDJPY broke 15min td line short. Be careful. I know it's thin trading but this looks short.
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It really is that easy.
  • #47
  • May 2, 2008 5:50am May 2, 2008 5:50am
1 way to measure potential/approximately targets with TL. High/low inside pattern added to breakout-outlevel;
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Measure twice, cut once
  • #48
  • May 2, 2008 5:51am May 2, 2008 5:51am
Despite the poor UK housing data earlier this morning, cable has rallied strongly and is leading GJ up.

So far UJ has failed to break above its resistance in the 105 area, BUT IF the NFP is bullish, then we can expect UJ to break out to the upside and take GJ up with it, even to break GJs 209 resistance.

A negative NFP and we could see UJ testing the lower side of its wedge and green rising gann line - that would drop GJ several hundred pips.

Time Will Tell
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Trading Levels with WRBs
  • #49
  • May 2, 2008 5:56am May 2, 2008 5:56am
Quoting Islander
Despite the poor UK housing data earlier this morning, cable has rallied strongly and is leading GJ up.

So far UJ has failed to break above its resistance in the 105 area, BUT IF the NFP is bullish, then we can expect UJ to break out to the upside and take GJ up with it, even to break GJs 209 resistance.

A negative NFP and we could see UJ testing the lower side of its wedge and green rising gann line - that would drop GJ several hundred pips.

Time Will Tell
We have been driven by strong pound today. As you say, the outcome of todays news should be interesting for how the next leg develop.
Measure twice, cut once
  • #50
  • Edited 1:38am May 4, 2008 12:51am | Edited 1:38am
Greetings all! Great thread so far. Just found it while looking for a hideout from all the trade hunters on the aus thread.

I'd usually rather listen and learn than yap away, but I've just updated a daily and weekly chart in progress since early April for UJ that I'm hoping may help to "track the beast" next week. The daily looks one way (a bit bullish), but the weekly is giving me a very bearish pause for both pairs.

Things seem just a bit clearer to me on that pair right now, and I'm pondering how much and if the current resistance levels that UJ is at will drag on GJ or no. Unless GJ just tears off and pulls everything with it of course. Thoughts?

For a longer term overview, can also check out http://i25.tinypic.com/33p3s4m.png
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FUBAR...
  • #51
  • May 4, 2008 6:28am May 4, 2008 6:28am
Quoting ak4x
Greetings all! Great thread so far. Just found it while looking for a hideout from all the trade hunters on the aus thread.

I'd usually rather listen and learn than yap away, but I've just updated a daily and weekly chart in progress since early April for UJ that I'm hoping may help to "track the beast" next week. The daily looks one way (a bit bullish), but the weekly is giving me a very bearish pause for both pairs.

Things seem just a bit clearer to me on that pair right now, and I'm pondering how much and if the current resistance levels that UJ is at will drag on GJ or no. Unless GJ just tears off and pulls everything with it of course. Thoughts?

For a longer term overview, can also check out http://i25.tinypic.com/33p3s4m.png
Nice work - its good to see some else looking at GJ's pairs to help analyse GJ's action.

My daily chart shows Friday as a green candle, with a higher close, rather than the red candle on your chart. Either way, I view January's Lows around the 105.60 level as the current must break level - a daily close above this would be bullish and if it fails to break this level, then this would be the first signs of an impending retracement.

With cable currently looking bearish after Friday afternoon's sell off it looks as if any up move in GJ will have to come from UJ - lets see what Monday brings - remember that Japan is closed until Wednesday and the UK closed on Monday.
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Trading Levels with WRBs
  • #52
  • May 4, 2008 5:22pm May 4, 2008 5:22pm
Quoting Islander
Nice work - its good to see some else looking at GJ's pairs to help analyse GJ's action.

My daily chart shows Friday as a green candle, with a higher close, rather than the red candle on your chart.
Yeah, should have added that this is an accucharts set to give new daily candles and pivots at 2100 gmt or 5 pm est. It also opens an hour earlier on sunday and closes an hour later on Friday, which is the reason for your comment. I often compare the difference between my mt4 broker chart (ibfx) and my "real" chart to get both perspectives. It really does change things...

Have to run off for a bit and will update everything later with the new 5 pm data. And thanks for Japan market reminder, had forgotten that!!
FUBAR...
  • #53
  • May 5, 2008 2:32am May 5, 2008 2:32am
Enjoy the ride all the way to 220 area

This is daily chart.
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  • #54
  • May 5, 2008 1:07pm May 5, 2008 1:07pm
As I consider price action or lack thereof today, I'd like to offer these 2 charts.

The 20m UJ shows an inability to break out of that 20-30 pip channel. Look at this in context of previous Uj charts I posted yesterday.

The GY looks like it wants to go, and should have plenty of headroom to do so, but... still looking for the catalyst. Various market closures today maybe skewing things?

My current position on GY is pictured on the chart, sidelined until I see it get loose of that pivot, one way or the other. I mostly think when price is ranging, they are very effective. When GY really wakes up, less so.

So... Patiently waiting.
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FUBAR...
  • #55
  • May 5, 2008 1:13pm May 5, 2008 1:13pm
hi ak4x (http://www.forexfactory.com/member.php?u=45026)
what is your platform?..its nice, colourfull
  • #56
  • May 5, 2008 1:25pm May 5, 2008 1:25pm
charting package is accucharts, very powerful, very tedious.

Everything else is added from a great little screen capture program called snagit from techsmith. It's invaluable for many other things I do.
FUBAR...
  • #57
  • Edited 2:36pm May 5, 2008 2:24pm | Edited 2:36pm
Quoting forexlion
Enjoy the ride all the way to 220 area

This is daily chart.
I'd love to take that ride!

In the spirit of this thread about GY trendlines, not sure we have the solid fundies for that tho. Even good US news seems cooked and increasingly suspect these days judging by recent reactions.

Comments on chart regarding FIBS and TL's assume it actually gets back to those levels... at this point it has a ways to go.
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FUBAR...
  • #58
  • Edited 5:33pm May 5, 2008 3:40pm | Edited 5:33pm
Quoting ak4x
...current position on GY is pictured on the chart, sidelined until I see it get loose of that pivot, one way or the other. So... Patiently waiting.
Got my new 4hr candle below M2 but still waiting as I have no confidence in price action due to market closures today. Strong bearish bias obviously, but costs me nothing to wait. New pivots and whatnot in an hour anyway.

Barring an Asia/London surpise, we may need NY open to seal this thing.
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FUBAR...
  • #59
  • May 5, 2008 3:49pm May 5, 2008 3:49pm
Quoting FX
This is what I'm seeing (http://financialworldmarketsmart.blogspot.com/)
sorry i've already deleted my local images.
It really is that easy.
  • #60
  • May 5, 2008 5:48pm May 5, 2008 5:48pm
hello fxorce

would it be possible to get the stochastic indifrom you .
thx
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