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Daily GBP/JPY analysis

  • #1,821
  • Mar 18, 2007 7:29pm Mar 18, 2007 7:29pm
retrace to the short side could be coming watch the candle on the daily chart could get a retrace from the first 2 hourly bars on mt4 for today. retrace possible to 78% before completion of move up this hourly bar will tell the story...

Quoting trader8686
Look at what it is doing,
I totally agree with you, now.
Plus, if a spike happened before market opened, it should be retraced back, too. That will make it look like a fill up of the gap.
  • #1,822
  • Mar 18, 2007 7:37pm Mar 18, 2007 7:37pm
Quoting fixme1too
retrace to the short side could be coming watch the candle on the daily chart could get a retrace from the first 2 hourly bars on mt4 for today. retrace possible to 78% before completion of move up this hourly bar will tell the story...
Ok, the first 2 hourly bars is only as high as 226.00 ???? http://www.forexfactory.com/images/icons/icon5.gif
  • #1,823
  • Mar 18, 2007 7:40pm Mar 18, 2007 7:40pm
you would have to wait until completion of the 2nd bar

Quoting trader8686
Ok, the first 2 hourly bars is only as high as 226.00 ???? http://www.forexfactory.com/images/icons/icon5.gif
  • #1,824
  • Mar 18, 2007 7:42pm Mar 18, 2007 7:42pm
i'm hoping for a retrace.....thats for sure.
went short just a little to soon i think

short from 226 and also low of 225.60

ick
--post hoc ergo propter hoc--
  • #1,825
  • Mar 18, 2007 7:42pm Mar 18, 2007 7:42pm
Quoting fixme1too
you would have to wait until completion of the 2nd bar
I see, you mean the second bar from bounced back. http://www.forexfactory.com/images/icons/icon7.gif
  • #1,826
  • Mar 18, 2007 7:45pm Mar 18, 2007 7:45pm
right

Quoting trader8686
I see, you mean the second bar from bounced back. http://www.forexfactory.com/images/icons/icon7.gif
  • #1,827
  • Mar 18, 2007 7:59pm Mar 18, 2007 7:59pm
so we've covered the price up till the close of friday.....now what?
--post hoc ergo propter hoc--
  • #1,828
  • Mar 18, 2007 8:01pm Mar 18, 2007 8:01pm
Quoting Monk
so we've covered the price up till the close of friday.....now what?
Short at a better price!
  • #1,829
  • Mar 18, 2007 8:05pm Mar 18, 2007 8:05pm
Quoting trader8686
Short at a better price!
funny
--post hoc ergo propter hoc--
  • #1,830
  • Mar 18, 2007 8:08pm Mar 18, 2007 8:08pm
wait and hope this 4 wave do not go much pass this 61.8 level for fear of a wave 5 failure...

Quoting Monk
so we've covered the price up till the close of friday.....now what?
  • #1,831
  • Mar 18, 2007 8:09pm Mar 18, 2007 8:09pm
lets see if EWT will be nice to us and get GBPYEN to retrace.....
  • #1,832
  • Mar 18, 2007 8:10pm Mar 18, 2007 8:10pm
OR....from DRT 227.04, then to 229.35/230.03 and up to 233?
All hard work brings a profit, but mere talk leads only to poverty.
  • #1,833
  • Mar 18, 2007 8:13pm Mar 18, 2007 8:13pm
Quoting Sami7
OR....from DRT 227.04, then to 229.35/230.03 and up to 233?
looks like the move from friday down will be retraced completly in a few.
--post hoc ergo propter hoc--
  • #1,834
  • Mar 18, 2007 8:14pm Mar 18, 2007 8:14pm
monk 4 wave is extending not leads to less chance of 5 wave completion....

Quoting fixme1too
lets see if EWT will be nice to us and get GBPYEN to retrace.....
  • #1,835
  • Mar 18, 2007 8:15pm Mar 18, 2007 8:15pm
the daily move is arounf 200 if not more pips, I have been focusinf in this currency for the last 4 months, it went all the way down to around 221.60 and bounced backup, the long term trend is downward but for short term gains I would say it should go up to around 229.
  • #1,836
  • Mar 18, 2007 8:16pm Mar 18, 2007 8:16pm
Quoting DownRiverTrader
Our next directional move in this cross will come from resolution of the 225.88/227.04 area.

In Friday's analysis, I recommended that traders establish longs on a push through River in front of 225.88. The market gave you the opportunity to establish longs.

If you are long, stay long with your risk well below 225.88. I continue to look for a move back above River at 227.04, then to 229.35/230.03 and up to 233.

A significant close below 225.88 would cancel my upside view in the short term.

Remember to review the price distribution analysis for this pair located her in the forum to get a better view of overall value.


NEUTRAL UNTIL RIVER IS RESOLVED AT 227.04

http://www.theviewdownriver.com/pics...y3-19-2007.PNG
Shouldn't we be looking at this scenario?
All hard work brings a profit, but mere talk leads only to poverty.
  • #1,837
  • Mar 18, 2007 8:18pm Mar 18, 2007 8:18pm
I just came back to my trading station to see if all my longs to fill the gap were still OK. +248 and with 2 lots that's +496. I love gaps.
  • #1,838
  • Mar 18, 2007 8:22pm Mar 18, 2007 8:22pm
So, from now on, it's long better or short better?
  • #1,839
  • Mar 18, 2007 8:22pm Mar 18, 2007 8:22pm
Closed my position at 226.25 and have just reentered at 227.75.

Also shorted the USD/JPY at the same time 117.33, but that's a different thread.
The basis of a democratic state is liberty. ~ Aristotle
  • #1,840
  • Mar 18, 2007 8:26pm Mar 18, 2007 8:26pm
Quoting Vensik
Closed my position at 226.25 and have just reentered at 227.75.

Also shorted the USD/JPY at the same time 117.33, but that's a different thread.
Did you read message #1838 ?
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