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Daily GBP/JPY analysis

  • #41
  • Edited 3:15pm Feb 7, 2007 3:02pm | Edited 3:15pm
Quoting Barry Huddlesto
I've been short GBP/JPY since 1/25 with about 12 trades off and on. I still like it short to about 234.00 I just sell on the bounce. I looking at about 250 pips.
Your short position is good goal
It fall about of 235.25 (a bit low/high) but 234 i do not think
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With Regards, MKTrader Not Risk Not Gain!
  • #42
  • Feb 7, 2007 3:06pm Feb 7, 2007 3:06pm
Quoting flareup
I don't know of any. If you know the extenstion that this program uses you can google

Bunnygirl *.ext

where ext is the extension. Google should return all sites that have that extension and bunnygirl mentioned. Should help you narrow it down if indeed it does exist.

Thanks for the tip Flare On
  • #43
  • Feb 7, 2007 3:15pm Feb 7, 2007 3:15pm
Quoting dukeofdents
The Duke says if you're not trading GBP/JPY right now you need to start. This is an incredibly high-yielding situation, but how long it will last, I don't know. I have copious analysis on this pair because I've been making silly money with it of late, but I wouldn't be surprised if others have as well. Let's get together and analyze it, for fun and profits.
You're absolutely right...
People I exchange information with, collect anything between $50-400 in interest daily on top of their trading..
I hope Japan never increase rates...
  • #44
  • Feb 7, 2007 3:45pm Feb 7, 2007 3:45pm
A good place to go long would be off of the blue support after it retraces back from the red trendline. Unless it breaks through the trendline without retracing first.
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  • #45
  • Feb 7, 2007 6:18pm Feb 7, 2007 6:18pm
This might be a sign that the price will be slowing its descent in the channel. It might just be the formation of a new downward channel, but with a slightly higher slope. Just food for thought. Of course, If the Bank of England raises rates tomorrow (I think another thread pegged it at 10% chance they do) the gbpjpy could be in for a huge gain.
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  • #46
  • Feb 7, 2007 7:14pm Feb 7, 2007 7:14pm
SpiderForex,
Thank you for your input.
Stan
  • #47
  • Feb 7, 2007 7:56pm Feb 7, 2007 7:56pm
I am looking to play the break one way or the other. It will be interesting to see what happens with the yen after this weekend of meetings.
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  • #48
  • Feb 7, 2007 8:12pm Feb 7, 2007 8:12pm
Days low so far has been 237.50 Its average daily range dating back from all of 2006 to present is 147 pips. My goal is to catch 60 pips in that daily range. Just started trading it the last few months and getting used to its big move. Here is a15 min chart show yesterdays and todays movement. Wanting to play a break of the support and resistance channel it is in.
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  • #49
  • Feb 7, 2007 8:21pm Feb 7, 2007 8:21pm
You're right. The price is pushing upwards, although it hasnt broken the trendline yet, so it might retrace first. Just have to wait and see I guess
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  • #50
  • Feb 7, 2007 8:23pm Feb 7, 2007 8:23pm
A bigger picture showing the upper trendline resistance and two lines of support..
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  • #51
  • Feb 7, 2007 8:25pm Feb 7, 2007 8:25pm
On the weekly its almost done a full retrace from it's low. The weekly range for the gbpjpy is 334 dating back to all of 2006 so far its low is 235.35 and the high is 238.15 for the weeks range of 280 pips.
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  • #52
  • Feb 7, 2007 8:27pm Feb 7, 2007 8:27pm
4hr chart showing how the gbpjpy has moved so far this week
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  • #53
  • Feb 7, 2007 8:59pm Feb 7, 2007 8:59pm
Well, it looks like it broke your upward line for a LONG position. Did you get in?
Show me the PIPS!
  • #54
  • Feb 7, 2007 8:59pm Feb 7, 2007 8:59pm
This is the first time I have traded this pair, I have a long in at 238.00, what with a sl at 129.50. Is that to close or should I be alright? What would be a good target to get out, or should I take the 30 pips and run?

Thanks
  • #55
  • Feb 7, 2007 9:10pm Feb 7, 2007 9:10pm
I have to back up and take in all the posts on this thread since last night when I started it. Thanks, folks! It seems like Cable gets all the attention when there are situations out there that can make crazy money, but nobody seems to be exploiting them. I've built an account on this pair alone, GBP/USD was a side thing while I did it. Here's the most f%$cked up part: I did it with 4 hour Vegas and candlestick analysis, combined with a Tom Demark thing I'm not ready to share yet...

Just 4hr Vegas would have had you rocking on this in the last 2 months, this son of a bitch is a yielder, trade what you see, not what you think!

Also, stay long for now. We have BOE coming out in the morning, U.S. CST 0600, and I'm a little worried about it, but I've got a rolling stop going that has me in profit already. I think I'll gamble on BOE, maybe raise the stop a little, not enough to get me stopped on a negative spike...
"The time to act is when others show signs of tire." --W.D. Gann
  • #56
  • Feb 7, 2007 9:19pm Feb 7, 2007 9:19pm
Quote
I have a long in at 238.00, what with a sl at 129.50. Is that to close or should I be alright


That s/l is definately NOT to close .... If its gets hit - were in big trouble!
  • #57
  • Feb 7, 2007 9:22pm Feb 7, 2007 9:22pm
S/L at 129.50?!!!? The last time I smoked crack I thought of something like that...
"The time to act is when others show signs of tire." --W.D. Gann
  • #58
  • Feb 7, 2007 9:24pm Feb 7, 2007 9:24pm
Quoting BigFace
That s/l is definately NOT to close .... If its gets hit - were in big trouble!
How long have you been trading? Seriously.
Mr. Trend
  • #59
  • Feb 7, 2007 9:24pm Feb 7, 2007 9:24pm
BTW, there is a spell check function that anyone can use when they reply. I don't need it, but please use it if you do need it. I'm dumb enough already...
"The time to act is when others show signs of tire." --W.D. Gann
  • #60
  • Feb 7, 2007 9:32pm Feb 7, 2007 9:32pm
This 4 hour bar is now insane. Mine opened at 00:00 GMT and started at 237.65, it's now 238.26, and no signs of immediate abatement. I'm telling everyone, this here is a high yielder, I'm making hundreds of pips all the time, and unless something silly happens it won't let up.

I am convinced that all of this has to do with disparate interest rates, i.e., big bank carry trades, over the mid- to long-term. Apparently AUD/JPY behaves the same way, even though I haven't used it because GBP/JPY is so tight. Any thoughts?
"The time to act is when others show signs of tire." --W.D. Gann
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