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Daily GBP/JPY analysis

  • #1,481
  • Mar 14, 2007 2:18am Mar 14, 2007 2:18am
Quoting im7i4z
Stop hunters. $_$
whats a stop hunter?
  • #1,482
  • Mar 14, 2007 2:22am Mar 14, 2007 2:22am
Quoting im7i4z
Which broker u r using? I got that spike as well.
I'm using NorthFinance
  • #1,483
  • Mar 14, 2007 2:26am Mar 14, 2007 2:26am
Quoting ssotiro
I'm using NorthFinance
I ve their demo acct and got that lame "fake" spike. I got 2 fake spikes from them in last 24 hours. Very bad practice.
  • #1,484
  • Mar 14, 2007 2:27am Mar 14, 2007 2:27am
I did not see the other one you say. What time was that? I might have been asleep. My time is GMT+2
  • #1,485
  • Mar 14, 2007 2:48am Mar 14, 2007 2:48am
Quoting trader8686
zawodowiec,
Can you explain why market is so undetermined direction tonight?
It looks not undetermined to me.....In my chart, the price still stay in the Pitchfork channel lasting for 30 hours, I won't be nerves unless it breakout the upper edge.

What I consecrated is the Stoch window in my chart, if the stoch[100,10,30] (grey line) go below 20, or it begin to turn direction up, that is time to exit my short position....
Attached Image
- Ray Tracy - Novice forex trader from GMT+8
  • #1,486
  • Mar 14, 2007 2:51am Mar 14, 2007 2:51am
The way it spiked up (hope its not fake!) we might have a double bottom in that case 232.80-233.10 should be the next big thing! the candle have to close above the 100 line though!
Attached Image
  • #1,487
  • Mar 14, 2007 4:47am Mar 14, 2007 4:47am
It seems the buzz is over
  • #1,488
  • Mar 14, 2007 4:53am Mar 14, 2007 4:53am
Its not over until the fat lady sings. In this case, 4 hour chart. I give it another 100 pips.
  • #1,489
  • Mar 14, 2007 5:44am Mar 14, 2007 5:44am
I know the trick, I won't fall for it again :
And I hope I'm not wrong about this, ELSE there will be KAPUT
  • #1,490
  • Mar 14, 2007 5:54am Mar 14, 2007 5:54am
Even I am still estimate another 150 pips down, I will suggest that DO NOT JUMP IN SHORT ANYMORE at this time if you have no position in hands. The following move down is only a bonus to exist short, not for new comer.

We may sit ready for potential up trend or sideway in next 2 day.
- Ray Tracy - Novice forex trader from GMT+8
  • #1,491
  • Mar 14, 2007 5:57am Mar 14, 2007 5:57am
doing a whole lot of not much at the moment...
  • #1,492
  • Mar 14, 2007 6:06am Mar 14, 2007 6:06am
Quoting raytracy
Even I am still estimate another 150 pips down, I will suggest that DO NOT JUMP IN SHORT ANYMORE at this time if you have no position in hands. The following move down is only a bonus to exist short, not for new comer.

We may sit ready for potential up trend or sideway in next 2 day.
Agreed, that's the picture I see at the moment
  • #1,493
  • Mar 14, 2007 6:08am Mar 14, 2007 6:08am
This is going to be another huge down day. The FX market has recently taken its direction from US stock market when it is experiencing very bad days. Today is going to be one of those because General Motors (GM) is expected to come out with some really bad news during their earnings conference call about the subprime loan market. They are tied into that in a big way. It starts around 9:30am est.

DOWN WE GO............................
  • #1,494
  • Mar 14, 2007 6:14am Mar 14, 2007 6:14am
Quoting southernmind
This is going to be another huge down day. The FX market has recently taken its direction from US stock market when it is experiencing very bad days. Today is going to be one of those because General Motors (GM) is expected to come out with some really bad news during their earnings conference call about the subprime loan market. They are tied into that in a big way. It starts around 9:30am est.

DOWN WE GO............................
Is this what you talking about?

(Bloomberg)

General Motors fell 15 cents to $30.37 in Germany. The company is scheduled to release fourth-quarter earnings before the open of U.S. exchanges.
The carmaker has said it will report a profit, only its second since the end of 2004. Analyst estimate earnings of $1.22 a share, according to a Bloomberg survey.


Y'day move wiped out last 3 days gains. This may well be a day to recover, in case no further subprime loan market events (gossips, news, whatever) come up. Subprime loan companies already priced in to bankruptcy, as I read about.
  • #1,495
  • Mar 14, 2007 7:17am Mar 14, 2007 7:17am
Takisd I think I know you :-)

How is the weather over the Mediterranean sea today?
  • #1,496
  • Mar 14, 2007 7:52am Mar 14, 2007 7:52am
Market is buying USD after news event. Carry trader did not show up, all JPY cross are up, I exited my short @ 223.95 although it looks like a little early but sounds safe.

Then, continue to pray GU down through 1.9200 for my another short in hands.......
- Ray Tracy - Novice forex trader from GMT+8
  • #1,497
  • Mar 14, 2007 8:01am Mar 14, 2007 8:01am
Quoting raytracy
Market is buying USD after news event. Carry trader did not show up, all JPY cross are up, I exited my short @ 223.95 although it looks like a little early but sounds safe.

Then, continue to pray GU down through 1.9200 for my another short in hands.......
My system is almost giving me secondary long signal on H4
  • #1,498
  • Mar 14, 2007 8:04am Mar 14, 2007 8:04am
resistance broken at 223.85 ,, who is long with me to 225?
Whatever you do, just keep doing it in a dicipline manner.
  • #1,499
  • Mar 14, 2007 8:39am Mar 14, 2007 8:39am
Quoting zazafamily
resistance broken at 223.85 ,, who is long with me to 225?
Nice ride up. Caught it.
All hard work brings a profit, but mere talk leads only to poverty.
  • #1,500
  • Mar 14, 2007 8:54am Mar 14, 2007 8:54am
I think it might go even higher
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