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Daily GBP/JPY analysis

  • #841
  • Mar 1, 2007 5:38pm Mar 1, 2007 5:38pm
Quoting drcole1
Not to be contrarian, but why would anyone be in a long position right now?

Other than a carry trade (which does NOT cover losses) I see some more consolidation and more down movements possible.

Not to cause problems, I just was wondering.


DC
I am short but I wish that on the short term this afternoon I was long because I would be making pips.
I agree with you that on the longer term I will profit, but I am certainly not right now. In addition, with the exception of the unemployment numbers, the other numbers are worse than expected and one as expected.
  • #842
  • Mar 1, 2007 5:39pm Mar 1, 2007 5:39pm
I'm long... by all means!
  • #843
  • Mar 1, 2007 5:51pm Mar 1, 2007 5:51pm
good night see you tommorow...there are no reasons for this pair its just bouncing
  • #844
  • Mar 1, 2007 9:50pm Mar 1, 2007 9:50pm
Currently Im watching these levels on the upside, they can possibly be good short term reversal points once the price fails to break through.
Attached Image
  • #845
  • Mar 1, 2007 9:53pm Mar 1, 2007 9:53pm
And here are some support levels in red that may come into play sooner or later.
Attached Image
  • #846
  • Mar 2, 2007 5:11am Mar 2, 2007 5:11am
Looks like it is heading down to S1 228.60
  • #847
  • Mar 2, 2007 5:11am Mar 2, 2007 5:11am
Going into an abyss!!!
  • #848
  • Mar 2, 2007 5:14am Mar 2, 2007 5:14am
I keep it around 225......if it crosses 228.10...
  • #849
  • Mar 2, 2007 5:46am Mar 2, 2007 5:46am
If any body has kept their short entry open from the starting of this week, then it must be 1000 pip jackpot for him/her!!!
  • #850
  • Mar 2, 2007 5:52am Mar 2, 2007 5:52am
This is a case when less is better. The lower the price goes, the happier I am.
  • #851
  • Mar 2, 2007 5:54am Mar 2, 2007 5:54am
Quoting moonchild
This is a case when less is better. The lower the price goes, the happier I am.
Great! Great! Great! Moonchild...you should be on moon then!!!
  • #852
  • Mar 2, 2007 6:03am Mar 2, 2007 6:03am
At the moment Japan is my favourite country and I hope that their economy prospers, that way it will keep dropping.

Today seems to be a day to short everything in sight. Most of the pairs are dropping. I am short GJ, UG and UJ.

I would like to also be able to short kiwi, but I do not have a large enough account for that also. With the way the others are dropping I really cannot complain.
  • #853
  • Mar 2, 2007 6:19am Mar 2, 2007 6:19am
Quoting simplecoders
If any body has kept their short entry open from the starting of this week, then it must be 1000 pip jackpot for him/her!!!
yeap. I am close to paying off my mortgage, with the help of my GBP/USD and EUR/USD shorts too ;-)

Like I said last night, do not go bottom picking on the yen now, you will be sorry
  • #854
  • Mar 2, 2007 6:26am Mar 2, 2007 6:26am
I knew that living in the UK for three years and buying all these high-tech japanese stuff would pay out sometime.

I've been short since this morning GMT.
  • #855
  • Mar 2, 2007 6:33am Mar 2, 2007 6:33am
I will be closing my JPY longs at the end of the day today. I would not be surprised to see G/J and E/J climb back all the way to the highs from which they fell (only to fall again) ;-)

Besides, i want to load up more on my Cable and E/U shorts :-]
  • #856
  • Mar 2, 2007 6:33am Mar 2, 2007 6:33am
what woudl be a good support, to go long?
  • #857
  • Mar 2, 2007 6:35am Mar 2, 2007 6:35am
I just closed at 227.40.
Don't really like holding positions over the weekend. After all, many pips made, so I wanted to secure them and leave.

That;s it for me for this week. Best of luck to all guys
  • #858
  • Mar 2, 2007 7:29am Mar 2, 2007 7:29am
I just realised that the GBP/JPY is down around 1100 pips this week!!! Has anyone here ever seen a move like that in one week??

WOW!!!
  • #859
  • Mar 2, 2007 7:32am Mar 2, 2007 7:32am
Quoting moonchild
I am short but I wish that on the short term this afternoon I was long because I would be making pips.
I agree with you that on the longer term I will profit, but I am certainly not right now. In addition, with the exception of the unemployment numbers, the other numbers are worse than expected and one as expected.
Moonchild,

you are stating two different approaches to trading. If you are in a swing trade short in the guppy, you should be very happy about now.

And there will certainly be a time when we should go long again. But when the market tells us to.

If you are are short term trading then just keep your stops for protection.

All I know is that I just closed out 2 lots @ +400 pips, and I am now riding 3 more Lots with +350 and much of it locked in. Who could be unhappy about missing a short term move?

DC
"There is MORE Happiness in giving than receiving"
  • #860
  • Mar 2, 2007 7:34am Mar 2, 2007 7:34am
in the week of 4-10-98 it drop down !!!!!!!!!!!!!!!!!!!!!!!!!!!!

3070 pips

If you count on hope in any trade ……. Get out of it
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