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Daily GBP/JPY analysis

  • #1,261
  • Mar 12, 2007 12:28pm Mar 12, 2007 12:28pm
Quoting raczekfx
that's what I meant. Don't forget I used word 'aggressive'.

GJ might very well test the previous lows, who knows, but my trading is based on here and now, not what will happen tomorrow...
Also take partial profit off the table and move the rest to BE once in profit and you have no worries..
Racz....do you believe its repeating itself from last week? after that inital 3-400 pip down swing it swung back up to around 229?
  • #1,262
  • Mar 12, 2007 12:56pm Mar 12, 2007 12:56pm
Quoting raczekfx
that's what I meant. Don't forget I used word 'aggressive'.

GJ might very well test the previous lows, who knows, but my trading is based on here and now, not what will happen tomorrow...
Also take partial profit off the table and move the rest to BE once in profit and you have no worries..
I will watch for a while. And, what is BE ?I guess it is Buy Entry.
  • #1,263
  • Mar 12, 2007 1:00pm Mar 12, 2007 1:00pm
im so lucky..i shorted GJ @ 226.16 last friday before the NFP release amd the pair shoot up above until i had almost a margin call with -300 plus pips ....

ti put my TP break even..and i hit /...
  • #1,264
  • Mar 12, 2007 1:04pm Mar 12, 2007 1:04pm
trader 8686...BE stand for break even
  • #1,265
  • Mar 12, 2007 1:09pm Mar 12, 2007 1:09pm
Quoting nikim
trader 8686...BE stand for break even
Oh, another culture gap, I guess. http://www.forexfactory.com/images/icons/icon7.gif
  • #1,266
  • Mar 12, 2007 1:14pm Mar 12, 2007 1:14pm
Quoting khmr
Racz....do you believe its repeating itself from last week? after that inital 3-400 pip down swing it swung back up to around 229?
khmr:

I don't let beliefs rule my trading (that'd be silly). I simply trade probabilities and trying to pick the best ones... that's all. If you're asking me for bias then ...well, based on dailies, I'd say short, but I'd wait for tokyo and beijing markets to open before deciding. Based on that big, weekly wick, I'd say long with stop below 224.70

t86:
BE = break even
  • #1,267
  • Mar 12, 2007 1:19pm Mar 12, 2007 1:19pm
k..thx...was the major move around 4am Pacific time this morning? stayed up till 2am but just couldn't get any read on the pair I knew it was hitting that resistance around 229.5-70...hoping to at least catch one of these big swings sooner or later....keep getting in on it just a bit to late...
  • #1,268
  • Mar 12, 2007 1:25pm Mar 12, 2007 1:25pm
Quoting khmr
k..thx...was the major move around 4am Pacific time this morning? stayed up till 2am but just couldn't get any read on the pair I knew it was hitting that resistance around 229.5-70...hoping to at least catch one of these big swings sooner or later....keep getting in on it just a bit to late...
those are the standard tactics of boj.
after good numbers (news out of japan) they sell yen (buy yen crosses) and when everyone jumps in, they quickly buy yen back with large $$$ causing havoc and snowball effect. Japan hates speculators; remember that before trading yen.
Simply speaking: what was happening during time you mentioned, was another, typical bull trap..
  • #1,269
  • Mar 12, 2007 1:43pm Mar 12, 2007 1:43pm
Quoting raczekfx
those are the standard tactics of boj.
after good numbers (news out of japan) they sell yen (buy yen crosses) and when everyone jumps in, they quickly buy yen back with large $$$ causing havoc and snowball effect. Japan hates speculators; remember that before trading yen.
Simply speaking: what was happening during time you mentioned, was another, typical bull trap..
Man, thats good analysis. I never thought about it like that. Thanks
  • #1,270
  • Mar 12, 2007 2:18pm Mar 12, 2007 2:18pm
Hello Dear Raczekfx, thank youvery much for great input on the tactics of the BOJ regarding speculation on the Yen. It is very explanatory when understanding the sharp turnaround that we see form time to time.

Again, thank very much for this input.

I really like this pair

Good piping to all

Shreem
  • #1,271
  • Mar 12, 2007 2:52pm Mar 12, 2007 2:52pm
Quoting zawodowiec
Man, thats good analysis. I never thought about it like that. Thanks
Some people call it a conspiracy theory, but who really knows or cares..
Yen trading is and always been the most profitable for me, thanks to respecting boj ...
  • #1,272
  • Mar 12, 2007 4:01pm Mar 12, 2007 4:01pm
Quoting raczekfx
Some people call it a conspiracy theory, but who really knows or cares..
Yen trading is and always been the most profitable for me, thanks to respecting boj ...
This is what I like.. no matter how many books on trading I read, noone will teach me things like that. I can learn about technical analysis, fundamentals, money mgmt, psychology, etc etc, but nobody tells whats really going on in between the big players and how they play this game. After all, if you have insight as to their strategies and psychology, you are way ahad of everyone else. I wish there was a place to read more about things like that.
  • #1,273
  • Mar 12, 2007 5:04pm Mar 12, 2007 5:04pm
Is anyone going short?

I'm in again
  • #1,274
  • Mar 12, 2007 5:07pm Mar 12, 2007 5:07pm
im short from friday at 228.78, i think it will go down to 222 again.
i usually scalp but im swingin with this one
  • #1,275
  • Mar 12, 2007 5:18pm Mar 12, 2007 5:18pm
Quoting spiderforex
Is anyone going short?

I'm in again
What's your target ?
  • #1,276
  • Mar 12, 2007 5:33pm Mar 12, 2007 5:33pm
Quoting trader8686
What's your target ?

It is right now at a crazy point and threatening to break all resistance point below...I think it is the begining of some kind of major fall or something..not sure though.

im looking at something below 220 level or worse to 212 level..I know its crazy..but it is trying to get up..but the top resistance are very hard and its to early to go up..so either it will flirt for a while , go down and come back up later in the month....i hate flirting..im ok with losses..but no flirting around business and so far GBPJPY has kept a good boy image lets hope it keeps it that way.

Any other inputs will strengthen the take...Good Luck.
  • #1,277
  • Mar 12, 2007 5:39pm Mar 12, 2007 5:39pm
Quoting spiderforex
It is right now at a crazy point and threatening to break all resistance point below...I think it is the begining of some kind of major fall or something..not sure though.

im looking at something below 220 level or worse to 212 level..I know its crazy..but it is trying to get up..but the top resistance are very hard and its to early to go up..so either it will flirt for a while , go down and come back up later in the month....i hate flirting..im ok with losses..but no flirting around business and so far GBPJPY has kept a good boy image lets hope it keeps it that way.

Any other inputs will strengthen the take...Good Luck.
I'd like to see it at 220 - 212 level, as you said.
But, look at this 226.87 level, I've met it couple of times today, it is hard to break down, too.
I'm tired of this support level.
  • #1,278
  • Mar 12, 2007 5:53pm Mar 12, 2007 5:53pm
Quoting trader8686
I'd like to see it at 220 - 212 level, as you said.
But, look at this 226.87 level, I've met it couple of times today, it is hard to break down, too.
I'm tired of this support level.

Ohh boy ! Just was squeezing over the resistance level and just couldn't belive..it may be my over stretched imagination combined with greed..so any expert eyes could shed in more light..

im seeing another big head and shoulders in 4h, day and week ..boy if its true..we are going all the way down

Is this correct..or its my greedy eyes..trying to make a figure to convince my greed.
Attached Image
  • #1,279
  • Mar 12, 2007 5:54pm Mar 12, 2007 5:54pm
i think its going to fall below 220 in the next month
  • #1,280
  • Mar 12, 2007 5:55pm Mar 12, 2007 5:55pm
Quoting spiderforex
Ohh boy ! Just was squeezing over the resistance level and just couldn't belive..it may be my over stretched imagination combined with greed..so any expert eyes could shed in more light..

im seeing another big head and shoulders in 4h, day and week ..boy if its true..we are going all the way down

Is this correct..or its my greedy eyes..trying to make a figure to convince my greed.
What's that? 194:30 on the chart right side next to the white arrow.
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