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Daily GBP/JPY analysis

  • #1,281
  • Mar 12, 2007 6:01pm Mar 12, 2007 6:01pm
Quoting trader8686
What's that? 194:30 on the chart right side next to the white arrow.
Nothing.....just a candle time..when the bars gonna end..put it long time back...now it does not bother much
Attached File(s)
File Type: mq4 EJ_CandleTime.mq4   2 KB | 392 downloads
  • #1,282
  • Mar 12, 2007 6:06pm Mar 12, 2007 6:06pm
Quoting spiderforex
Nothing.....just a candle time..when the bars gonna end..put it long time back...now it does not bother much
What's the attached file for? candle time?
  • #1,283
  • Mar 12, 2007 6:10pm Mar 12, 2007 6:10pm
Quoting spiderforex
Nothing.....just a candle time..when the bars gonna end..put it long time back...now it does not bother much
spider what price did you short at? thx
  • #1,284
  • Mar 12, 2007 7:21pm Mar 12, 2007 7:21pm
I see a big short definetly, but the problem is if that right shoulder will go up any higher. I'm having trouble figuring that out, but otherwise, I think it's gonna drop big time also.
  • #1,285
  • Mar 12, 2007 7:41pm Mar 12, 2007 7:41pm
Quoting yungdannyboy
I see a big short definetly, but the problem is if that right shoulder will go up any higher. I'm having trouble figuring that out, but otherwise, I think it's gonna drop big time also.
Really? I see it is trying to go up, of course the resistance is too tough, however, the 236.87 is hard to breakdown, too.
Anyway, I hope it is going down big time same as your openion, not try to sing a different song.
  • #1,286
  • Mar 12, 2007 7:50pm Mar 12, 2007 7:50pm
Quoting trader8686
Really? I see it is trying to go up, of course the resistance is too tough, however, the 236.87 is hard to breakdown, too.
Anyway, I hope it is going down big time same as your openion, not try to sing a different song.
Does anyone see this as the retracement of the move down? If so, shouldn't the target be around 232 area??
All hard work brings a profit, but mere talk leads only to poverty.
  • #1,287
  • Mar 12, 2007 7:51pm Mar 12, 2007 7:51pm
Quoting Sami7
Does anyone see this as the retracement of the move down? If so, shouldn't the target be around 232 area??
Here you go, I like to hear this!
  • #1,288
  • Mar 12, 2007 7:52pm Mar 12, 2007 7:52pm
it already has retraced to the 38.2 fib, a move to the 50 fib at this time seems unlikely.
  • #1,289
  • Mar 12, 2007 8:01pm Mar 12, 2007 8:01pm
I am guessing here. Does your head and shoulders have a very wide flattened head? I guess it is possibly a head and shoulders on 4H and daily., since the figure does not need to be horizontal but can be slanted. If it breaks the neck line, which will be somewhere around 219, we are in business. I have drawn in a red line at the neck line.

I certainly hope so because I am short and aiming for around 219, I hope. If we break 221.07 we go down a great deal further than my 219.
Attached Image
  • #1,290
  • Mar 12, 2007 8:06pm Mar 12, 2007 8:06pm
Quoting trader8686
Here you go, I like to hear this!
Apparently the currency is heading in a direction finally.
All hard work brings a profit, but mere talk leads only to poverty.
  • #1,291
  • Mar 12, 2007 8:10pm Mar 12, 2007 8:10pm
get your shorts in, its goin down
  • #1,292
  • Mar 12, 2007 8:11pm Mar 12, 2007 8:11pm
Quoting karma729
get your shorts in, its goin down
After break 226.70 better
  • #1,293
  • Mar 12, 2007 8:13pm Mar 12, 2007 8:13pm
WE all have a sell on for this pair, so its not a question of where the pair is going anymore, but when. When will this pair start to plumet? Answer?
nobody knows. Just sit tight and wait. and take profit when it comes your way

happy tradin all

P.S.i know we all want to see a break of that annoying 226.85 support area.
  • #1,294
  • Mar 12, 2007 8:14pm Mar 12, 2007 8:14pm
I told you 226.87 is so tough to break down.
  • #1,295
  • Mar 12, 2007 8:33pm Mar 12, 2007 8:33pm
Quoting trader8686
I told you 226.87 is so tough to break down.
Its really annoying me right now. ITs coming reallly soon though. 30mins ago it flew down 30pips, then back up 35. ITs now trading towards the lower 1/2 of the box (227.50- 226.87). SO i think we are in a good position and should hopefully see a penetration of that support soon.
  • #1,296
  • Mar 12, 2007 8:38pm Mar 12, 2007 8:38pm
Quoting nikim
Its really annoying me right now. ITs coming reallly soon though. 30mins ago it flew down 30pips, then back up 35. ITs now trading towards the lower 1/2 of the box (227.50- 226.87). SO i think we are in a good position and should hopefully see a penetration of that support soon.
I hope so, I have already lost couple hundred dollars for this position.
  • #1,297
  • Mar 12, 2007 8:40pm Mar 12, 2007 8:40pm
Now, anyone can provide the next couple support level information and post it?
  • #1,298
  • Mar 12, 2007 8:53pm Mar 12, 2007 8:53pm
Quoting trader8686
I hope so, I have already lost couple hundred dollars for this position.

So... you are risking hundreds of dollars on a single position, and you cannot find important support/resistance levels on your chart?? Now, what is wrong with this picture?
  • #1,299
  • Mar 12, 2007 8:54pm Mar 12, 2007 8:54pm
The move this morning formed a pennant and although this does not guarantee the direction of the subsequent movement, a follow up move in the same direction as the flag pole is the most likely-- thus down.

When we clear 225.80 we should be able to expect at least 85 pips or more.
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  • #1,300
  • Mar 12, 2007 8:57pm Mar 12, 2007 8:57pm
Quoting trader8686
Now, anyone can provide the next couple support level information and post it?
Watch for the break of this channel. In metatrader, you can create it yourself, it's called equidistant channel. There seem to be some support areas at 225.80 and 225.00. Below that.... 221.00 Good luck!
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