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Daily GBP/JPY analysis

  • #81
  • Feb 8, 2007 5:32am Feb 8, 2007 5:32am
Quoting BigFace
Dont really know what you mean... Does any pair exist in reality then? All prices can be multiplications/divisions of other ccy pairs



?? ..Please show me this calculation




Change brokers....They're taking rubbish... OK the GBP/JPY price is related/derived/calculated from GBP/USD+USD/JPY... but you're not placing two trades.



Correct...It will go up




UJ = USD/JPY




If you did that you would be LONG GBP / SHORT USD
and LONG JPY / SHORT USD

you wouldn't have a GBP/JPY position
Oops, my mistake. Buying for both.
  • #82
  • Feb 8, 2007 6:26am Feb 8, 2007 6:26am
Yesterday i told you about of fall gbr/jpy today it's started to fall about 235.25.

go jpy gooo
With Regards, MKTrader Not Risk Not Gain!
  • #83
  • Feb 8, 2007 6:55am Feb 8, 2007 6:55am
Quoting MKTrader
Yesterday i told you about of fall gbr/jpy today it's started to fall about 235.25.

go jpy gooo
MKTrader, would be glad to know the reason behind your analysis - why you expect it to go to 235?
  • #84
  • Feb 8, 2007 6:59am Feb 8, 2007 6:59am
Quoting forex3e
I have a "weak" (short term) sell signal on GBPJPY 23867, EURJPY 15779, AUDJPY 9462 .. "weak" implies signal could be wrong
So you have signals that can't be wrong? That's nice
Try hard, think fast, die young
  • #85
  • Feb 8, 2007 7:04am Feb 8, 2007 7:04am
Soon on this pair...
Nice time to set-up another carry trade... good sound.
  • #86
  • Feb 8, 2007 7:19am Feb 8, 2007 7:19am
so im long again lets see (there is no SL ! )
  • #87
  • Edited 8:19am Feb 8, 2007 7:23am | Edited 8:19am
Quoting pipSeeker
MKTrader, would be glad to know the reason behind your analysis - why you expect it to go to 235?

Sure,
Look at H4 chart
It's a W position.
A to B equal C to D (a bit low and high)
C,D line gained to fibo 78.6 so time to breakout.
Although C,D breakout in 234.60~70 but my T/P is 235.25 becuase of GBR/JPY growth this month(Look at your D1 chart and compare with Jan 2007)
Attached Image
With Regards, MKTrader Not Risk Not Gain!
  • #88
  • Feb 8, 2007 7:42am Feb 8, 2007 7:42am
Resistance on the 100 and 200 sma, as well as my 34 low EMA. I'm long scaled down.
  • #89
  • Feb 8, 2007 7:59am Feb 8, 2007 7:59am
Quoting MKTrader
Sure,
Look at H4 chart
It's a W position.
A to B equal C to D (a bit low and high)
C,D line gained to fibo 78.6 so time to breakout.
Although C,D breakout in 234.60~70 but my T/P is 235.25 becuase of GBR/JPY browth this month(Look at your D1 chart and compare with Jan 2007)
Thank you, for the explanation, MK.
  • #90
  • Feb 8, 2007 9:00am Feb 8, 2007 9:00am
I've just taken a geppy long primarily due to the bounce off the daily pivot line and the Gbp/Usd hitting a trendline - if that goes up it'll probably drag geppy up with it. Stops are at 235, no t/p.

The trade's a bit risky obviously as I'm trying to pick a bottom and we've also got the G7 coming up but geppy always has that beautiful trend.....

http://picnac.com/images/2933Untitled 2.jpg
  • #91
  • Feb 8, 2007 9:36am Feb 8, 2007 9:36am
Quoting spiderforex
OK I being trading GBPJPY from past couple of years.

Here are some tips.

1. Trade only Tokyo and London times. 90% of the time the trend from Asia continues through Europe unless you have some big news on GBP.

rarely the trend reverses like his elder bro GBPUSD, who loves to flirt all day and eat our balences away by the time we reach US time.

2. GBPJPY have a habit of turning back upto 40-50-60 PIPS, considering it has a spread of 8-9, its normal, BUT if you are newbie..you will be scared and will never come back to trading GBPJPY, so always set your stop loss above 100 PIPS AND trade with the money you would be prepared to loose.

The 40-50-60 PIPS turning back you see is not reversal of trend..just relax..probably some big guys unloading the trades etc..again 90 percent of the time..the trend will follow up.

3. Play with the pyramids..if the pip goes 50 to 60 PIPS know that it will hold the position..so built on a nice pyramid to make up the lost PIPS.

4. EXIT by US afternoon as most the trade will be slow till the market open for a new day in Tokyo.

5 Be a day trader, I would at the most if i see a big trend hold for 2-3 days..I have carry trade in other accounts.

6. If you play intraday..you will make 10 to 15 K PIPS..If you go carry trade you would make 3 to 4 K per annum..both are nice. depends on how much you got.

Probably the biggest thing in trading is confidence, which you get with experience ..so keep your arse grinding untill you say..ohh yeah..i can do it

thanks for these tips Spider! They are twice as valuable for this crazy, volatile pair, hehe It went past my stops at 238.25-238.30 and kept on for another 40-50pips before the plunge.
  • #92
  • Feb 8, 2007 10:02am Feb 8, 2007 10:02am
With all the contradictory positions being promoted on this pair right now in this forum, can you give us your opinion of the next 2 days movement?
  • #93
  • Feb 8, 2007 10:38am Feb 8, 2007 10:38am
Quoting Pipkingdom
With all the contradictory positions being promoted on this pair right now in this forum, can you give us your opinion of the next 2 days movement?

I think this beast is going to range between 235.80 and 237.80. I am short at 238.14 with a TP of 236.00. Should my TP be filled, I have a buy order at 236.25. Unfortunately, I have a lot catch up to do. I was short yesterday at 237.38 and got stopped at 238.38.
I am addicted to chaos. That's why I trade forex.
  • #94
  • Feb 8, 2007 10:42am Feb 8, 2007 10:42am
Quoting Pipkingdom
With all the contradictory positions being promoted on this pair right now in this forum, can you give us your opinion of the next 2 days movement?
Yes, rise soon but now fall about 235.25 you can check my old post in this thread.
With Regards, MKTrader Not Risk Not Gain!
  • #95
  • Feb 8, 2007 11:40am Feb 8, 2007 11:40am
Quoting MKTrader
Yesterday i told you about of fall gbr/jpy today it's started to fall about 235.25.

go jpy gooo
So you are saying its going 'to' continue to 235.25.

Thanks again
  • #96
  • Feb 8, 2007 4:03pm Feb 8, 2007 4:03pm
So I'm curious where everyone is today? I figured this thread would be going crazy...
Mr. Trend
  • #97
  • Feb 8, 2007 4:05pm Feb 8, 2007 4:05pm
I got stopped out last night with a profit on both lots. I'm itching to get back in but am holding off since the G7 meeting this weekend. I'm afraid if I enter now and something crass comes out this weekend I'll be facing a 200 pip gap or some crap and it won't be in my favor.
  • #98
  • Feb 8, 2007 4:37pm Feb 8, 2007 4:37pm
Does anyone have any open short trades? If so, what is your target TP?
I am addicted to chaos. That's why I trade forex.
  • #99
  • Feb 8, 2007 4:40pm Feb 8, 2007 4:40pm
shorted gbp/jpy at 238.21. limit is 235.80

Kingmaker
  • #100
  • Feb 8, 2007 4:52pm Feb 8, 2007 4:52pm
Entry 237.38 TP 235.88 (no reason on TP just trying to get 150 PIPS!) It may go on down to the 235.40 area. We shall see.............
Show me the PIPS!
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