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Daily GBP/JPY analysis

  • #2,521
  • Apr 4, 2007 1:51am Apr 4, 2007 1:51am
Quoting jest1081
well at the rate price is going right now, you are sure not living up to your name...heh.
good soldier. peel more potatoes.
BAM BAM BOOM! -bravado
  • #2,522
  • Apr 4, 2007 1:54am Apr 4, 2007 1:54am
Quoting bravado
you already have.

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

<<insert smileys here>>
I wish U Losses...I mean failures r the stepping stones 2 success
  • #2,523
  • Apr 4, 2007 2:01am Apr 4, 2007 2:01am
Quoting forexnovice
I wish U Losses...I mean failures r the stepping stones 2 success
fair enough.
BAM BAM BOOM! -bravado
  • #2,524
  • Apr 4, 2007 2:24am Apr 4, 2007 2:24am
As per 00:00hrs GMT, G/U has made a new high @ 1.9760 but G/J is still stuck in 234.74-234.31...breakout is due but 2 upside or downside? comments any1 ?
Looking 4 trading signals....
  • #2,525
  • Apr 4, 2007 2:39am Apr 4, 2007 2:39am
price is consolidation...small breakouts can consider scalping...
Attached Image
  • #2,526
  • Apr 4, 2007 2:42am Apr 4, 2007 2:42am
Quoting forexnovice
As per 00:00hrs GMT, G/U has made a new high @ 1.9760 but G/J is still stuck in 234.74-234.31...breakout is due but 2 upside or downside? comments any1 ?
Looking 4 trading signals....
Signal: down to 233.60 then up to 237.00. Believe me. *devil's laugh*
Tra-X
  • #2,527
  • Apr 4, 2007 2:44am Apr 4, 2007 2:44am
G/J has completed 68 pips as per GMT time. Maybe London Open will provide the impetus 4 breakout...
  • #2,528
  • Apr 4, 2007 2:49am Apr 4, 2007 2:49am
wHeee atm i really dont know... i just gonna wait and see where it wants to go befour acting.

no one wants be be first in a party.
  • #2,529
  • Apr 4, 2007 2:50am Apr 4, 2007 2:50am
Quoting Traex
Signal: down to 233.60 then up to 237.00. Believe me. *devil's laugh*
I Believe ya....shorted 100 lots......on my demo
  • #2,530
  • Apr 4, 2007 2:54am Apr 4, 2007 2:54am
come one everybody,
look like the basket is open again!

have your egg in it!
  • #2,531
  • Apr 4, 2007 2:59am Apr 4, 2007 2:59am
Quoting forexnovice
G/J has completed 68 pips as per GMT time. Maybe London Open will provide the impetus 4 breakout...
London Open was the same as the Frankfurt....moved sideways around short tf 200 ema; Euro, cable and GJ all around 62% retrace of yesterday afternoons pull back.

GJ has stalled at 234.77, 76, 74 then 73....in a less volatile pair I´d be going short....guess I´ll stay flat till after the UK services PMI at 4:30
Trading Levels with WRBs
  • #2,532
  • Apr 4, 2007 3:07am Apr 4, 2007 3:07am
Jest1081-Thanx 4 the chart

Islander-I agree with ur post. Closed my short 4 +3 pips..Will wait 4 better entry signal
  • #2,533
  • Apr 4, 2007 3:25am Apr 4, 2007 3:25am
Short frm 234.35 TP 233.95 SL 234.74 RRR 1:1
Attached Image
  • #2,534
  • Apr 4, 2007 3:41am Apr 4, 2007 3:41am
Quoting forexnovice
Short frm 234.35 TP 233.95 SL 234.74 RRR 1:1
SL hit -40 pips
  • #2,535
  • Apr 4, 2007 3:45am Apr 4, 2007 3:45am
Hi Forexnovice,

That was a good analysis but maybe my chart below could probably help you pin point better entry points...

You might say it is risque but i call it getting bargain value.

In trading usually these 3 things will happen whe u trade breakout...
1. Price breakout of TL or SR, retraces and hit ur SL or just consolidates...(you lose)
2. Price breakout of TL or SR and retraces to SR or TL then go down again. (You win, and you win more if u short at retracement point, it sometimes gives u up to 10pip more)
3. Price breaks out of TL and SR and move wildly...(U miss trade since u wait for retracement, in this case i usually wait for some retracement to a short term sma and take the trade from there.)

just my 2pips.

PS: the red dots are breakoput points, the blue dots are your possible entry points.

regards
jest
Attached Image
  • #2,536
  • Apr 4, 2007 3:51am Apr 4, 2007 3:51am
Its always advisable not to take TL or SR breakouts on a whim...patience is e key, usually the strategising begins after the breakout happens.
  • #2,537
  • Apr 4, 2007 3:56am Apr 4, 2007 3:56am
Looks like guys out here look for every reason to enter a trade.
I didn't know a sign of overbought (or oversold) is a trade signal!!
How about about waiting for the market to convince u to enter a trade.
Unless u are scalping I don't see any trade on G/J. those who were long should either be exiting or tightening the stops.
Nobody should be thinking of a short until we get to around 232.05 (according to my style)

My 2 cents
Money: Bad Master, Best Slave
  • #2,538
  • Apr 4, 2007 3:58am Apr 4, 2007 3:58am
OK boys, looks like a standard hiccup in the daily chart, nothing to worry about - merely a correction. If it goes back down to 234.00 though, then it could be serious about going south. I have my SL on 234. My TP remains on 253.30, but the chart will probably end up much higher.

Now for those looking at US/JP what is going on there? Sudden surge downward, no news, nothing. Very fishy, and its affecting EUR/US as well. Any ideas anyone? It's not a JP thing, becuse the EU/JP (which is moving with us) has recovered from its own hiccup and is now bullish again.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #2,539
  • Apr 4, 2007 4:02am Apr 4, 2007 4:02am
Hi,

you cant critise, others trade like that...each of them proly have their own system and they act on it. Sure ur system does not have any trade calls but you cant blame others for taking their trade. Its theirs to take and its up to them on how they should assess it. May it be a winner or a loser, at the end of the day they will definitely learn something from it.

What those who wanna help can do is try to coach and help re-define certain things. Trade assessment is up to the trader himself at the end of the day its his/her money. Gd day emurithi.

regards
jest

Quoting emurithi
Looks like guys out here look for every reason to enter a trade.
I didn't know a sign of overbought (or oversold) is a trade signal!!
How about about waiting for the market to convince u to enter a trade.
Unless u are scalping I don't see any trade on G/J. those who were long should either be exiting or tightening the stops.
Nobody should be thinking of a short until we get to around 232.05 (according to my style)

My 2 cents
  • #2,540
  • Apr 4, 2007 4:03am Apr 4, 2007 4:03am
SHORT @234.74

MY 4 LOTS
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