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Daily GBP/JPY analysis

  • #2,501
  • Apr 3, 2007 11:13pm Apr 3, 2007 11:13pm
Hi Vitaliy,

How are things?

usually for things like this to move or really change direction, it will require a few things....

1. Fundamental news...(rates?)
2. Tragic news...(war?)
3. Some bigass selling...(oh blame the russians, hehehe)

Fundamentally, the pound should be stronger then the Yen...I dont have to give reasons. But really anything can happen.
  • #2,502
  • Apr 4, 2007 12:09am Apr 4, 2007 12:09am
yeah, but it can't go up forever .... if assuming that it will grow with the same rate aproximatly 80 pips in 24 hrs , by the end of the week we will be at 237-238 ? it can be possible but the second week and the highest point for the last 3 months is around 240 it doesn't look right .... at what point do you expect drop down ? what caused drop down on 2007.03.27 ? my strategy gives excelent entry points but I'm still strugling with exit point on time.
  • #2,503
  • Apr 4, 2007 12:33am Apr 4, 2007 12:33am
High 234.92 low 234.06 on 15 min charts

78.6 fibo @ 234.74 has been reached

Currently short frm 234.64 TP 233.90 SL 234.92
  • #2,504
  • Edited 12:48am Apr 4, 2007 12:46am | Edited 12:48am
Quoting Why Oh Why
At 234.85 for 26 pips. 5 lots still open. Half my original trade. And that's it for today.
At 234.68 for 60 pips. 3 lots still short.
Do not focus on making money; focus on protecting what you have.
  • #2,505
  • Edited 12:57am Apr 4, 2007 12:47am | Edited 12:57am
Try to look at the 4hr charts, how many time can you see a trend that goes > 500pips. I can guarantee u...PLENTY.

To add, its price we're talking abt. Logic does not transcend in trading. When we talk support and resistance, if price refuses to fall from grace when they are at the top, do you wonder where it will usually go? From what i can recall, the daily range for this pair usually exceeds 200pips so, an 80 pip consolidation in poundyen is a norm.

As for the dropdown, i sure din expect that but surely after that we knew why. When a bullet is shot, there has to be a trigger. And yes, exits are always the hardest.

Quoting Vitaliy
yeah, but it can't go up forever .... if assuming that it will grow with the same rate aproximatly 80 pips in 24 hrs , by the end of the week we will be at 237-238 ? it can be possible but the second week and the highest point for the last 3 months is around 240 it doesn't look right .... at what point do you expect drop down ? what caused drop down on 2007.03.27 ? my strategy gives excelent entry points but I'm still strugling with exit point on time.
  • #2,506
  • Apr 4, 2007 1:10am Apr 4, 2007 1:10am
Quoting forexnovice
High 234.92 low 234.06 on 15 min charts

78.6 fibo @ 234.74 has been reached

Currently short frm 234.64 TP 233.90 SL 234.92
Another failed attempt @ 234.74 followed by a sharp sell-off towards 234.31...looks like my target will be reached early
  • #2,507
  • Apr 4, 2007 1:10am Apr 4, 2007 1:10am
sl raised to 233.80.
BAM BAM BOOM! -bravado
  • #2,508
  • Apr 4, 2007 1:19am Apr 4, 2007 1:19am
Quoting forexnovice
Another failed attempt @ 234.74 followed by a sharp sell-off towards 234.31...looks like my target will be reached early
nice name by the way.
BAM BAM BOOM! -bravado
  • #2,509
  • Apr 4, 2007 1:22am Apr 4, 2007 1:22am
Quoting Vensik
Broker is back online and I am up 153 pips.
Hey Vensik .... aren't you glad that your account was just a Demo account from Royal Trader? When you start trading a live account, try Currenex, I have never been disconnected.

Good Luck
  • #2,510
  • Edited 2:19am Apr 4, 2007 1:26am | Edited 2:19am
The 3 year, 365, 200, 100, 50, 30 and 10 EMA's still looks like a long for the GBP/JPY. I am still long from 229.30 using my 4 hour chart.

The same applies to the GBP/CHF pair.
  • #2,511
  • Apr 4, 2007 1:26am Apr 4, 2007 1:26am
Quoting bravado
nice name by the way.
Market reminds me who I am every now & then...no use putting on a show of bravado another failed attempt @ 234.74.....
  • #2,512
  • Apr 4, 2007 1:32am Apr 4, 2007 1:32am
Quoting forexnovice
Market reminds me who I am every now & then...no use putting on a show of bravado another failed attempt @ 234.74.....
market reminds me to punch it in the face.
BAM BAM BOOM! -bravado
  • #2,513
  • Apr 4, 2007 1:33am Apr 4, 2007 1:33am
Too many attempts is not a good sign...it must just break it.

Quoting forexnovice
Market reminds me who I am every now & then...no use putting on a show of bravado another failed attempt @ 234.74.....
  • #2,514
  • Apr 4, 2007 1:36am Apr 4, 2007 1:36am
Quoting forexnovice
Market reminds me who I am every now & then...no use putting on a show of bravado another failed attempt @ 234.74.....
oh and by the way. just what is it?

what is it with you traders and your smilies? i mean seriously.
it makes me want to puke.
BAM BAM BOOM! -bravado
  • #2,515
  • Apr 4, 2007 1:36am Apr 4, 2007 1:36am
Quoting bravado
market reminds me to punch it in the face.
Have A Great Time Playing PunchBag with the Market the harder U hit it, the harder it will get back @ U :
  • #2,516
  • Apr 4, 2007 1:37am Apr 4, 2007 1:37am
Quoting bravado
oh and by the way. just what is it?

what is it with you traders and your smilies? i mean seriously.
it makes me want to puke.
Just a show of Emotions..
  • #2,517
  • Apr 4, 2007 1:37am Apr 4, 2007 1:37am
Quoting jest1081
Too many attempts is not a good sign...it must just break it.
jesus christ..
BAM BAM BOOM! -bravado
  • #2,518
  • Apr 4, 2007 1:42am Apr 4, 2007 1:42am
Quoting jest1081
Too many attempts is not a good sign...it must just break it.
If it does, I will live up to my name

Seriously, a breach above 234.80 & I manually close my Position
  • #2,519
  • Apr 4, 2007 1:47am Apr 4, 2007 1:47am
well at the rate price is going right now, you are sure not living up to your name...heh.
  • #2,520
  • Apr 4, 2007 1:49am Apr 4, 2007 1:49am
Quoting forexnovice
If it does, I will live up to my name

Seriously, a breach above 234.80 & I manually close my Position
you already have.

oh wait, what i really meant was---i wish you profits. happy trading, good luck to you etc,.

<<insert smileys here>>
BAM BAM BOOM! -bravado
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