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Daily GBP/JPY analysis

  • #2,201
  • Mar 30, 2007 11:50pm Mar 30, 2007 11:50pm
http://i130.photobucket.com/albums/p...fyter/c4-7.gif

expect a very large a wave to follow after wave 5 has finished forming
  • #2,202
  • Mar 31, 2007 11:05pm Mar 31, 2007 11:05pm
As I suspected..
Im starting to see more and more concerns over the tariffs imposed on china across the markets..Im expecting we should see a gap down at open on sunday..any thoughts???
  • #2,203
  • Mar 31, 2007 11:57pm Mar 31, 2007 11:57pm
would that not make it gap up?
  • #2,204
  • Edited 11:35am Apr 1, 2007 11:23am | Edited 11:35am
Quoting kcornod
As I suspected..
Im starting to see more and more concerns over the tariffs imposed on china across the markets..Im expecting we should see a gap down at open on sunday..any thoughts???
Tankan readings coming out of Tokyo later this evening will be Yen bearish if at or below expectations. Currently G/J is about 200 pips below Fridays close in the pre-open. That will be one hell of a gap to fill overnight if it opens there.
  • #2,205
  • Apr 1, 2007 11:35am Apr 1, 2007 11:35am
Quoting wep561
Tankan readings coming out of Tokyo later this evening will be Yen bearish if at or below expectations.
I am really confused by your comment...you say yen bearish....okay the figuere that you are looking for is 24....So if the figure comes say below 14 or above 34....(yeah right) Then could you explain in terms what you mean by bearish yen ie

USD/JPY=UP
GBP/JPY=UP
EUR/JPY=UP

Am I reading this right.....Please correct me if I am wrong...
Also I have read that the Tanken report is similar to NFP somewhere is this true..???
  • #2,206
  • Apr 1, 2007 11:52am Apr 1, 2007 11:52am
Quoting rav700
I am really confused by your comment...you say yen bearish....okay the figuere that you are looking for is 24....So if the figure comes say below 14 or above 34....(yeah right) Then could you explain in terms what you mean by bearish yen ie

USD/JPY=UP
GBP/JPY=UP
EUR/JPY=UP

Am I reading this right.....Please correct me if I am wrong...
Also I have read that the Tanken report is similar to NFP somewhere is this true..???
If the Japanese manufacturing sector starts to show signs of a slowdown and consumer price reports start to indicate that the economy has not in fact beaten deflation, the case for further rate hikes by the BOJ is severely damaged. The carry trade may possibly start to rewind back towards Febuary highs.
  • #2,207
  • Apr 1, 2007 7:10pm Apr 1, 2007 7:10pm
are you ready for another wild week ? and once again i broke my rules and went long ... since most of you agree that it will go up
  • #2,208
  • Apr 2, 2007 1:21am Apr 2, 2007 1:21am
The break out of this triangle should give a nice trade
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Trading Levels with WRBs
  • #2,209
  • Apr 2, 2007 4:29am Apr 2, 2007 4:29am
I guess the forth bounce of the 231.55 area with higher momentum gave the answer......now almost reached the 161.8 extension
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Trading Levels with WRBs
  • #2,210
  • Apr 2, 2007 5:10am Apr 2, 2007 5:10am
Carries are bid today... And NYSE futures are already up... Having no disaster with upcoming US news, we may have 233s here....

Thoughts?
  • #2,211
  • Apr 2, 2007 5:16am Apr 2, 2007 5:16am
shouldnt see why not. Not sure if ISM on the dollar is gonna trigger pound selling though (highly unlikely but heck the currency world is a wierd one).

Anyway im tanking on a long holding for this one...we should see 233 soon.
  • #2,212
  • Apr 2, 2007 7:12am Apr 2, 2007 7:12am
Quoting jest1081
shouldnt see why not. Not sure if ISM on the dollar is gonna trigger pound selling though (highly unlikely but heck the currency world is a wierd one).

Anyway im tanking on a long holding for this one...we should see 233 soon.
Faster than we thought... There are talks of Shadow MPC voted 8-1 for rate hike on Thursday. That will inspire new GBP buyers across the board.

I banked 70 in GJ already, ahead of the expected resistance at 233. But Cable breaching 9777 / stalling at 97 highs may take GJ 233.50 real quicky...

GBP uptrend is heavy now...
  • #2,213
  • Apr 2, 2007 9:27am Apr 2, 2007 9:27am
I'm out at 232.77 and watching for it to go down
  • #2,214
  • Apr 2, 2007 9:37am Apr 2, 2007 9:37am
Quoting karma729
http://i130.photobucket.com/albums/p...fyter/c4-7.gif

expect a very large a wave to follow after wave 5 has finished forming
You mean a very large wave towards the downside?
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #2,215
  • Apr 2, 2007 9:51am Apr 2, 2007 9:51am
Any projections for the peak of wave 5?
  • #2,216
  • Apr 2, 2007 9:54am Apr 2, 2007 9:54am
yep I will wait for the big waive down ... and it looks like it already going down ....maybe not but anyways i'm not taking any chances because it looks like on the edge of going down, anyways you can't get all pips in the world but u always can try
  • #2,217
  • Apr 2, 2007 9:55am Apr 2, 2007 9:55am
Quoting TradeStar
You mean a very large wave towards the downside?
no, i mean wave 'a'
  • #2,218
  • Apr 2, 2007 10:00am Apr 2, 2007 10:00am
Quoting yezbick
Any projections for the peak of wave 5?
i suspect that the majority of wave 5 has already been formed. it should continue on through the 233 level, but how strong this move will be is uncertain. however, we will know with 99% certainty that when 229 is breached in the near future, then there is sufficient evidence to indicate that wave 'a' has begun. wave 'a', imo, should be a fairly large one so be sure to catch it.
  • #2,219
  • Apr 2, 2007 10:04am Apr 2, 2007 10:04am
Crazy Yen session... But patience payed off... Partials @ 233 and 117.8. Looking tough to go through those levels...
  • #2,220
  • Apr 2, 2007 10:16am Apr 2, 2007 10:16am
Quoting cesarnc
Crazy Yen session... But patience payed off... Partials @ 233 and 117.8. Looking tough to go through those levels...
I have to go with you buddy, but I actually closed my entire position, If a dip finds some good support I might enter long again but not sure if that would be to hasty, I may wait until it hits some really strong support such as a trend line and see how it reacts around those price levels.
(107 pips profits on last trade)
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