Daily GBP/JPY analysis

I strongly believe shorting here... Mr Fibonacci says I have to, can't be helped then I guess
Shorted @ 229.91, SL: 231.00

Would you mind elaborating on what Senor Fibonacci says? I know that 231.50/60 area is the 61.8 fib line. But I'm unclear on what the short aspect of that is.

Thanks.

As anticipated in yesterday's analysis, we did get our move up through 229.35 where I recommended longs should cover and take profit. We captured the entire Zone from 225.88 to 229.35 on this trade!.

I stated that if we push through this area we would reset longs on a retrace back to the 229.35 Level. This scenario did develop and we got the pullback intraday.

This continues to be our strategy. The market gave you the opportunity to set up longs today, so if you are long stay long. Traders can continue to establish longs in the 229.35 area. Your risk should be beow River at 228.17. Targets to the upside are 231.73 and 234.11 where all longs should exit

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


SHORT TERM BULLISH WHILE ABOVE RIVER AT 228.17

http://www.theviewdownriver.com/pics...y3-21-2007.PNG

Thanks DRT!

Thanks DRT

It's overextended, wait for it to go sideways or short...

Who invented dynamic fibonaccis, anyway? Maybe somebody will come out of the woodwork and take credit.

I never reccommend recommending anything, I wait to see what it will do and react accordingly within a frame of reference. Remember, we have the Fed tomorrow. The rate will be even, but the announcement will be overanalyzed. It may be quite dovish considering recent developments, which may in turn lead to further strength in the Yen...

Good Lord, this thread took off while I was on the political correctness ban. I hope everyone made as much $$ as I did on the "crash".

hello Duke...were you able to catch both the spike up and spike down? or just the crash? did you use any analysis on it or just from what you saw? thx

DRT that information is priceless and timely,thanks for been on the forum.
Great respect to the Duke who started this.

true...just follow & react accordingly...till now nothing showing down except small divergence from short term CCI...just my 2 cent.

Really trade gbp/jpy with analysis and news make more satisfaction ...More analysis make you get more profit. But, don't forget to read news.

Some Old Hand that can explain a newbie what has happened here at 5 hours before and after 00:00 GMT of 21st march 07?

Thanks, AP.

Please refer to the G/U chart, then you will know why.....

For me that dear friend meant to go short sterling... i am short 230.91

I still long since early monday (227.30) , my indicators still looking good, but im feeling thats time for a short. but all of my indicators still long so is just a bet.

Just closed my short @ 230.65

mmm ... thanks.

Thanks ... DRT for your great analysis.

I believe Japan had a holiday