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Daily GBP/JPY analysis

  • #2,441
  • Apr 3, 2007 11:18am Apr 3, 2007 11:18am
Some selling pressure starting to build in profit taking. Think I'll hold my shorts into the Tokyo session.
  • #2,442
  • Apr 3, 2007 11:20am Apr 3, 2007 11:20am
Quoting Sami7
Cesar, Thinking it is getting time to SHORT!


Just waiting for UJ start PT......
  • #2,443
  • Edited 11:48am Apr 3, 2007 11:23am | Edited 11:48am
Quoting Why Oh Why
But this was a factor for me in going short. Well spotted. But it's a way off yet. Watch this space.
Dow is about to take the intraday profit too......

That is what may trigger the rest of the selloff - maybe througout the whole Asian session
  • #2,444
  • Apr 3, 2007 11:53am Apr 3, 2007 11:53am
Quoting bravado
longed GJ: 1st position @ 234.75
exit 1st position -10 pips. will look for a better position for long.
BAM BAM BOOM! -bravado
  • #2,445
  • Apr 3, 2007 11:57am Apr 3, 2007 11:57am
Quoting cesarnc


Just waiting for UJ start PT......
Remaining short out at B/E.... Didn't like how this bounce off 234.50 smells... And too many talks of 119.00 and barrier at 119.40 for my nerves to take...

This SOB GJ is likely to go north overbought or not. Dow holding way too high yet...
  • #2,446
  • Apr 3, 2007 12:05pm Apr 3, 2007 12:05pm
Quoting Why Oh Why
At 234.65 for 28 pips. 9 more to go.
At 234.83 for 10 pips. 8 to go.
Do not focus on making money; focus on protecting what you have.
  • #2,447
  • Apr 3, 2007 12:09pm Apr 3, 2007 12:09pm
buy limit set @ 234.35
BAM BAM BOOM! -bravado
  • #2,448
  • Apr 3, 2007 12:16pm Apr 3, 2007 12:16pm
gj is setting up for a flag pattern until late asian session(?)
early projection of the flag - slow dive to 234.30 area.

still expecting a climb to 235.50 area.
BAM BAM BOOM! -bravado
  • #2,449
  • Apr 3, 2007 12:17pm Apr 3, 2007 12:17pm
Cesar are you still feeling 119 on the UJ limit? I know your going to pull the trigger if not, it just might get there right at Asian open if it keeps this pace. That would be a text book play right there fellas. I worry about round numbers but some stop losses could be triggered on top of sell limits which could cause this thing to pull back more i suppose. It's getting dicey.
"Only when the tide goes out will we know who is swimming naked."
  • #2,450
  • Apr 3, 2007 12:35pm Apr 3, 2007 12:35pm
Quoting Why Oh Why
At 234.83 for 10 pips. 8 to go.
At 234.78 for 15 pips.
Do not focus on making money; focus on protecting what you have.
  • #2,451
  • Apr 3, 2007 12:43pm Apr 3, 2007 12:43pm
Quoting pipped oFF
Cesar are you still feeling 119 on the UJ limit? I know your going to pull the trigger if not, it just might get there right at Asian open if it keeps this pace. That would be a text book play right there fellas. I worry about round numbers but some stop losses could be triggered on top of sell limits which could cause this thing to pull back more i suppose. It's getting dicey.
USD longs are not retracing across the board so far... USDCHF, UJ and NZDUSD, for instance... EU and GU back for new lows...

We'll have to "see" the resistance acting to realize where it is now...

Oil down + Iran concerns decreasing + better than f/c housing data (read it but I didn't see that at FF calendar (?!?!?!)) are told to be the dollar up main drivers...

I'm out searching for GBP dips opportunities.... May stay aside until GJ out of overbought in the 4hr...

I'm with bravado on this one... We might see a slow retracement until Frankfurt open......
  • #2,452
  • Apr 3, 2007 12:46pm Apr 3, 2007 12:46pm
Hey - what's everyone's targets for the drip, oh did I say drip, I meant drop....

On the Most Recent Movement up on the DAILY: rounded off:

23.6% 232.00
38.2% 230.00
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,453
  • Apr 3, 2007 12:49pm Apr 3, 2007 12:49pm
Quoting Why Oh Why
233.12 & 232.45 as targets. We'll see.
Posted 4 hours ago. 7 lots remaining and I'll lock in on the way down.
Do not focus on making money; focus on protecting what you have.
  • #2,454
  • Apr 3, 2007 12:52pm Apr 3, 2007 12:52pm
Quoting Why Oh Why
Posted 4 hours ago. 7 lots remaining and I'll lock in on the way down.
So far. But it could still all go tits up.
Do not focus on making money; focus on protecting what you have.
  • #2,455
  • Apr 3, 2007 1:03pm Apr 3, 2007 1:03pm
Would you guys call me insane if I say this damn GJ is going above 235 before Tokyo session to solve the overbought issue there???

  • #2,456
  • Apr 3, 2007 1:07pm Apr 3, 2007 1:07pm
Quoting Sami7
Thinking we'll be testing 235.00 say it with me...one more time
Hmmm....
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,457
  • Apr 3, 2007 1:09pm Apr 3, 2007 1:09pm
Quoting Sami7
Hmmm....
exactly...
  • #2,458
  • Apr 3, 2007 1:12pm Apr 3, 2007 1:12pm
Quoting Why Oh Why
So far. But it could still all go tits up.
And this is why.

http://www.tradingcentral.com/chart/...0403205128.GIF

Do not focus on making money; focus on protecting what you have.
  • #2,459
  • Apr 3, 2007 1:21pm Apr 3, 2007 1:21pm
Quoting Why Oh Why
At 234.78 for 15 pips.
At 234.85 for 16 pips. 5 lots still open. Half my original trade. And that's it for today.
Do not focus on making money; focus on protecting what you have.
  • #2,460
  • Apr 3, 2007 1:28pm Apr 3, 2007 1:28pm
Hi out there. Im long from 233.28 with stopp at 234.20 (still favour long side for some pips)
just thinking to short U/J with stopp at 119.20/25 but this would not compare with my long in G/J . what do you think about this some comments would be nice, thanks.

7:15am USDADP Nonfarm Employment Change http://www.forexfactory.com/images/m...mpact_high.gif
125K57K

jsut dont know if there will be much reaction....
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