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Daily GBP/JPY analysis

  • #2,241
  • Apr 2, 2007 2:52pm Apr 2, 2007 2:52pm
Quoting cesarnc
2nd time failing 233 since 03.26 is what worries me the most...
I'd set your stops tighter....
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,242
  • Apr 2, 2007 3:15pm Apr 2, 2007 3:15pm
Quoting cesarnc
2nd time failing 233 since 03.26 is what worries me the most...

Just noticed that current 4hr candle opened 233.01.... I like that... But that brings "mixed indicators" to the table... Now I'm OFFICIALLY Lost
We may be starting a move down now??
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,243
  • Apr 2, 2007 3:25pm Apr 2, 2007 3:25pm
Quoting Sami7
We may be starting a move down now??
I am short @ 94 I think we should see the drop in the next 20 mins My stop is @ 20
  • #2,244
  • Apr 2, 2007 3:28pm Apr 2, 2007 3:28pm
Quoting Sami7
We may be starting a move down now??
There was a bounce at 232.50s that was an intraday high (resistance) turned into support - that was 14:30 GMT M15.

With Cable so bid right now and biased up backed on expected hike, I would consider a buy limit at the 233.50 area (still to think this through with spreads to avoid the "missed by 1 pip") and then buy limts every 100 pips below that in case the Crazy Russians decide to take profit to buy more Vodka.

Now my concern is where to place a buy stop above 233 to get triggered in case of breakout towards new highs.... What I don't want is long at 233.20 to see it sinking to 230... Tought call right now..

But I'm gonna wait for Tokyo open to build that minefield of orders...
  • #2,245
  • Apr 2, 2007 3:31pm Apr 2, 2007 3:31pm
i wouldn't rush going short now ... its too early to say anything, my indicators don't show anything at this moment ... so i'm staying out untill the situation becomes clearer... i have seen the same story many time with this pair doesn't move doesn't move and when it starts moving it's moving a lot
  • #2,246
  • Apr 2, 2007 3:33pm Apr 2, 2007 3:33pm
New York Session Update 4/2/2007 The NY session saw a spill-over from London trading which was inspired by the “Carry Trade”. Traders began to put back on the high yielder’s at lofty levels, which put pressure on the JPY specifically. GBP had a nice run as momentum players got all bulled up buying GBP/USD only to run into very strong offers into 1.9800.

This level of resistance had GBP/USD trade back into 1.9760/65 level that has become good short term support by way of profit taking. EUR/USD has been a pawn to GBP and the crosses so far and more of the same follow up trading for this pair is expected as this carry trade begins to gain strength again.

It was also noted that a large player in the secondary mortgage arena* had filed for chapter 11 bankruptcy. This put pressure on the dollar as the US stock markets took a quick hit before rebounding and trading with a neutral bias for a better part of the session so far.

* - New Century filed for bankruptcy... That big subprime mortgage lender that was hit hard during the Chinese selloff, guess you remember...
  • #2,247
  • Apr 2, 2007 3:46pm Apr 2, 2007 3:46pm
Quoting Vitaliy
i wouldn't rush going short now ... its too early to say anything, my indicators don't show anything at this moment ... so i'm staying out untill the situation becomes clearer... i have seen the same story many time with this pair doesn't move doesn't move and when it starts moving it's moving a lot
I have a short @ 94 currently sitting at breakeven.hmmmm might take it out and wait
  • #2,248
  • Apr 2, 2007 3:59pm Apr 2, 2007 3:59pm
Quoting cesarnc
There was a bounce at 232.50s that was an intraday high (resistance) turned into support - that was 14:30 GMT M15.

With Cable so bid right now and biased up backed on expected hike, I would consider a buy limit at the 233.50 area (still to think this through with spreads to avoid the "missed by 1 pip") and then buy limts every 100 pips below that in case the Crazy Russians decide to take profit to buy more Vodka.

Now my concern is where to place a buy stop above 233 to get triggered in case of breakout towards new highs.... What I don't want is long at 233.20 to see it sinking to 230... Tought call right now..

But I'm gonna wait for Tokyo open to build that minefield of orders...
233.50 or 232.50 (232.50 sounds pretty good, I'm looking at 232.65 at least)
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,249
  • Apr 2, 2007 4:18pm Apr 2, 2007 4:18pm
Quoting Sami7
233.50 or 232.50 (232.50 sounds pretty good, I'm looking at 232.65 at least)
Damn it... It was a typo... 232.50 not buy limit at 233.50... sorry..
  • #2,250
  • Apr 2, 2007 4:25pm Apr 2, 2007 4:25pm
Quoting cesarnc
Damn it... It was a typo... 232.50 not buy limit at 233.50... sorry..
No problem. I hope it goes down first b/c I don't trust the movement over 233 - as it stands now. Like you said, get into a long only to have it turn into a short.
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,251
  • Apr 2, 2007 4:34pm Apr 2, 2007 4:34pm
might make a move here. you guys going short at 233.50?
  • #2,252
  • Apr 2, 2007 4:38pm Apr 2, 2007 4:38pm
Quoting bmwboyee
might make a move here. you guys going short at 233.50?
- not sure, waiting for indicators to tell me when and not in a long.
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,253
  • Apr 2, 2007 4:41pm Apr 2, 2007 4:41pm
Quoting Sami7
No problem. I hope it goes down first b/c I don't trust the movement over 233 - as it stands now. Like you said, get into a long only to have it turn into a short.
above 233.10 already...go figure...
  • #2,254
  • Apr 2, 2007 4:47pm Apr 2, 2007 4:47pm
Quoting cesarnc
above 233.10 already...go figure...
Do you think there is enought momentum to push it up mate???
  • #2,255
  • Apr 2, 2007 4:49pm Apr 2, 2007 4:49pm
I am sure this good news for JPY will help it go down to 233.40 atleast
  • #2,256
  • Apr 2, 2007 4:51pm Apr 2, 2007 4:51pm
Quoting jaree
I am sure this good news for JPY will help it go down to 233.40 atleast
Down to 233.40 or 232.40
  • #2,257
  • Apr 2, 2007 4:51pm Apr 2, 2007 4:51pm
Quoting rav700
Do you think there is enought momentum to push it up mate???
I want UJ to break above this stinking 117.85 compulsive seller first.
  • #2,258
  • Apr 2, 2007 5:03pm Apr 2, 2007 5:03pm
No Market reaction, so far

Quoting rav700
Down to 233.40 or 232.40
  • #2,259
  • Apr 2, 2007 5:08pm Apr 2, 2007 5:08pm
breaking north right now.
  • #2,260
  • Apr 2, 2007 5:14pm Apr 2, 2007 5:14pm
Quoting bmwboyee
breaking north right now.
more like stairstepping
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