GBP/JPY Trendline Traders

Sbrickman, please narrow your charts so they don't mess up the thread. As you are already aware, autoloading a chart by linking to tinypic creates that problem, with no decent way to quote something w/o further cluttering the thread.

Also, please take the time to read and respect post #1 from the thread author. This is a GY and related issues trendline thread, not just another generic GY thread/chat room where anybody with a passing thought or comment on GY should be making tracks all over the place. It's already assumed we all know what a 1 hr double bottom here is, and our charts all show it as well.

You already know all of this, and have been asked before by several very senior members to act accordingly regarding your posts and charts on other threads.

Forexlion, as this is your thread, it's ultimately your call, but I know you're a busy guy. If this is out of line, say so, and I will apologize.

Wow that is a busy chart.
Those automated trendline indicators are a waste IMO.

Also I think if you save images as PNG you'll end up posting a thumbnail instead of a massive image. It's really efficient to use PNG files.

It really looks like a choppy move up from here on GJ. Also it's late in the day for trends so this is my last update before 7am London time tomorrow.

Trade Well and I'll see you fellas tomorrow.

I hope the below image is appropriate for everyones' screens.

no worries fxorce, he already knows all that, he just won't do it.

agreed - the guy is a complete pain in the ar*e - he even posts trendline only charts elsewhere - must need the attention.....

Now we're cookin with Crisco. My earlier 15min td line was very weak and the market told me so. Now we have something real and it's breaking long. 1hr shows similar and looks like the base of the td line contains 204 pips of upside if you listen to Tom DeMark. That would put us up against that major 1hr td line around 204.95. I measure the base of the triangle and then forecast from the break point. I will confirm with an ABC pattern to mark the end of the move. If the C wave is muted and we break south again through a trendline line it would be very bearish.

edit: yellow dash lines are 50% of intraday move
td lines=trendlines or Tom DeMark lines.

With one trading session each left in the week for the markets, and not a lot out of the US today except higher oil, and a lousy AIG earnings report for the financials, the weekly candle (inset) may not see too much change to the upside.

Both the daily and weekly are knocking up against their lower trendlines. The daily broke it's primary TL yesterday (in green) and is now testing it's secondary TL (pink). Additionally, the daily has breached it's 50% fib for the first time since breaking and holding above it back in mid april on it's way up to 209.

As Fridays can be weird, I'm looking at anything that happens in these final 3 sessions with a hairy eyeball as the books are closed out, but probably won't take it too seriously yet as indicating longer term market direction from here, unless the moves exceed what's reasonable.

Summary: Charts are tellin me up for a bit or more from a TL bounce, but shorts are locked, loaded and ready to go at first call. I'd actually rather short from a couple hundred pips higher than from here.

To confirm, the td lines are the yellowish horizontal dashed lines?

I like this statement a lot. There is a 1hr trendline coming down from Friday last week that looks prime to be hit just above 205 area.

I too am worried about AIG earnings but they don't come out until NY session.

The yellow dashed horizontal lines on my charts are 50% of the intraday candle. You'd be suprised how easy scalps are off that line.

http://i25.tinypic.com/2j3193a.gif

Sellers hammering away at support.

ak4x, the force, islander i heartily appreciate your efforts, keep up the good work

ssb please keep the chart sizes below forum width


ok here is 30 min Contiuation descending triangle received at 02 GMT


and below that is the 15 min triple bottom reversal

a full chance to see a breakout for 204.41 or higher

I hope I did not enter the long too early

204.41 is the 61.8% monthly line and yesterday's BOE news bounce level

204.79 is the weekly pivot and wednesday's balancing level

The trendline did not break yet, so better wait until there is a clear breakout. Could go to 138 fib and take a bounce from there?

On the other hand price broke the lower channel (trend) line which indicates a bigger move to the south.

R

my sl got triggered at lower trendline and the ea opened a short at 202, glad for it.

Daily Channel Down

60 min channel valid for 199 bars

Time to gang bang GJ

60 min GJ trendline with indicator attached for anybody who wants it

Just started playing with a fib fan for the first time on the daily. Not too familiar with them yet, but after changing the 62% to a 23%, I found that there was a very close correlation betwen my existing TL's, a green one exactly under the 50% fan line, and a pink one very close to the 38% fan.

The convergence of the 23% fan and white TL is very close to a projected downside target zone around the 200 area.

More fodder to ponder.

I guess that you've already looked at Orions Way's thread - loads of gann fans there - lol too many!

http://www.forexfactory.com/showthread.php?t=72196&page=26

My vision of intermediate term movement.

Thread's been quiet, lots of sideways does that I spose.

In context of previous post and charts, 207.70 resistance level is back in play after hard TL break.

Break defined as a daily close and price established above it, vs penetration only as in previous PA from late April and early May.

Lacking that, I'm keeping the shorts warmed up, locked and loaded. I would then expect retest of lower TL at mid 202ish level or lower to 200.