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Daily GBP/JPY analysis

  • #1,721
  • Mar 15, 2007 8:12pm Mar 15, 2007 8:12pm
[quote=moonchild;245160]
Quoting smnitro1


Actually, I took that trade and got 58 pips. Almost what I was hoping for based on the formation, which was 69. I took the short when the neckline was broken.

After that it turned around and went up, but I already had my pips.
NICE Trade, It's hard for me to see the head and shoulders form using the chart bars. I usually use the Macd to see those kind of patterns.

I picked up another 58 pips on the 15min TF. Perfect Stoch setup.
I probably could have got more if I traded the other 2 jpy pairs.
Thanks for your insight moon.
  • #1,722
  • Mar 15, 2007 9:56pm Mar 15, 2007 9:56pm
Dear DRT, thank you very much for taking the time to post your charts on GBP/JPY. It is really much appreciated.

As I know that you do not trade this pair or any crosses, your input is very deeply appreciated.

I really like to be able to look at your river level and transition levels. According to me, they are very helpful for people that take the time to learn them

Wishing you a great evening and a lot of pips

Most sincerly

shreem
  • #1,723
  • Mar 15, 2007 10:16pm Mar 15, 2007 10:16pm
do we have any predictions for the next couple of hours? Or are we all sleeping? Just wanted to see what the consensus was....
I'm hoping for at least 22500 by morning
  • #1,724
  • Mar 15, 2007 10:29pm Mar 15, 2007 10:29pm
Quoting chokenyou
do we have any predictions for the next couple of hours? Or are we all sleeping? Just wanted to see what the consensus was....
I'm hoping for at least 22500 by morning
For what it is worth, I am short with a TP at 225.75. When we get close to there I will reevaluate and decide if I want to close the trade there or not. After that, at some point, I expect us to head for 241, although I doubt that we will stay there long.
  • #1,725
  • Mar 15, 2007 10:58pm Mar 15, 2007 10:58pm
Quoting moonchild
For what it is worth, I am short with a TP at 225.75. When we get close to there I will reevaluate and decide if I want to close the trade there or not. After that, at some point, I expect us to head for 241, although I doubt that we will stay there long.
241???
why take a short now then?
you should just put every bit of margin you have going long....

or was that a typo?

:-)
--post hoc ergo propter hoc--
  • #1,726
  • Mar 15, 2007 11:06pm Mar 15, 2007 11:06pm
Quoting Monk
241???
why take a short now then?
you should just put every bit of margin you have going long....

or was that a typo?

:-)
No typo. What I said was basically short now, long after. But of course that does not mean that I am right.
  • #1,727
  • Mar 15, 2007 11:14pm Mar 15, 2007 11:14pm
I like the way you think, 141 sounds like a good number. With tomorrow ending the week, I was hoping for a final shot south. The way things are going, it doesn't look good for my short at 226.25 either. We will just have to wait and see.

lookd like we're headed that way now......
  • #1,728
  • Mar 15, 2007 11:25pm Mar 15, 2007 11:25pm
Quoting moonchild
No typo. What I said was basically short now, long after. But of course that does not mean that I am right.
241 is a hell of a move north......what makes you think we are headed there in the short term?

231 maybe.
--post hoc ergo propter hoc--
  • #1,729
  • Mar 15, 2007 11:32pm Mar 15, 2007 11:32pm
it's nice to dream... But, last week we did move 1000 pips in 3 days (I think)
So, it is possible
  • #1,730
  • Mar 16, 2007 1:14am Mar 16, 2007 1:14am
Quoting FxJarhead
Hi Hazz,

I know of a few decent sites if you don't have the software:

www.mataf.net

www.forexinterbank.com has a calculator which you can update for any time frame you wish.

For a very good risk calculator if you need one: www.goforex.net and scroll down the left hand side for "forex resources" see: position size calculator.

One last one : www.actionforex.com Look around on the left hand side, not sure about this site ( what it offers ) though the S/R's and pivots are updated.....worth checking out.

Hope this Helps
Good Luck
Did I Break Rule #3 Here??....Just today I saw a few posts about "the rules", than I read the rules.... Suppose I forgot my 7 P's.
My apologies if I did....my intent was not to promote any site or company, only to help a gent with a question he had.
Proper Prior Planning Prevents Piss Poor Performance
  • #1,731
  • Mar 16, 2007 1:38am Mar 16, 2007 1:38am
Quoting Monk
241 is a hell of a move north......what makes you think we are headed there in the short term?

231 maybe.
I did not mention how long or short a time it would take to get to what I believe will be the upside target after a short excursion down (at least I think it will be short). The way we have been seeing moves of many hundred pips in a day lately, I would not venture to guess just how little time it might take to get to 241. In the past, I would have said weeks, now it could be just a few days, I have no idea any more just how fast this pair could move if it really tried.
  • #1,732
  • Mar 16, 2007 2:49am Mar 16, 2007 2:49am
Tightly ranging....tighter than yesterday... is it a lull before a storm...but which way will the storm go?
  • #1,733
  • Mar 16, 2007 4:21am Mar 16, 2007 4:21am
Quoting dragon77
does anyone use divergence on this pair as i can see this on my 15 min chart, just wondering if it is reliable
I don't use divergence on this pair but I do long term trade from the 4H charts.
Because I use long term the SL needed for this pair is BIG, at least 100pips anywhere upto 150pips. The bank obviously needs to be big enough to cope with the large SL.
This pair as you all know can take massive swings so you need to be prepared for the loss's it will inevitably bring, money management is definitely the name of the game with this pair.
I try to use support / Resistance lines of when to come out also candlestick analysis on the shorter time frame charts.
I will only go in when the setup I feel is right I can go all week without a trade if it's not a good setup.
Only my thoughts but as I say No1 with this pair is use the large SL but have the bank to cope otherwise a few losses and you will be losing the faith of your method and yourself.
Stay Lucky Mimas.
  • #1,734
  • Mar 16, 2007 4:54am Mar 16, 2007 4:54am
Quoting mimas

The bank obviously needs to be big enough to cope with the large SL.

...have the bank to cope otherwise a few losses and you will be losing the faith of your method and yourself.
Stay Lucky Mimas.
Wrong. Stay demo Mimas :
  • #1,735
  • Mar 16, 2007 5:07am Mar 16, 2007 5:07am
Quoting Miguel
Wrong. Stay demo Mimas :
Staying Demo is nice because you don't lose any money but you don't make any money.....either !
  • #1,736
  • Mar 16, 2007 5:28am Mar 16, 2007 5:28am
Quoting mimas
Staying Demo is nice because you don't lose any money but you don't make any money.....either !
The first part is good.
  • #1,737
  • Mar 16, 2007 7:41am Mar 16, 2007 7:41am
Some movement to the upside. Is anyone looking at DRT's chart for targets?
All hard work brings a profit, but mere talk leads only to poverty.
  • #1,738
  • Mar 16, 2007 8:06am Mar 16, 2007 8:06am
Quoting Sami7
Some movement to the upside. Is anyone looking at DRT's chart for targets?
its really choppy right now...

not sure if i will be trading until sunday
  • #1,739
  • Mar 16, 2007 8:22am Mar 16, 2007 8:22am
First attempt at posting a picture here, so hopefully it works.

Here's what I'm looking at. I'll wait for a bounce down and a cross of my MA's before entering.

http://img90.imageshack.us/img90/322...y031607qp6.jpg
The basis of a democratic state is liberty. ~ Aristotle
  • #1,740
  • Mar 16, 2007 8:27am Mar 16, 2007 8:27am
Quoting Sami7
Some movement to the upside. Is anyone looking at DRT's chart for targets?
I really liked DRT's analyses, hopefully its not the last time we will see it for this pair.
Would be nice to get to 229.35 today
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