Daily GBP/JPY analysis

hey pipped off, can u be more specific or give an example? for ex, if u take as period the last day range, which was say 230 pips, u put 230 as value at RSI for daily? I guess not....

Also, if I use hourly chart, I need to calculate the previous hour range and use it as value for indicators on the hourly chart.?

Thanx

i personaly just adjust the Level(help) Lines . how they seems bouncing. TOP bottom, bearish line bouncing. and Bull line bouncing. if you look carefully you can see when market is bull it dosent drop(not allways tru) in some level. and when market is bearish it never seem to get tru high enought. so look and adjust your own lines. and when time moves by adjust your lines how the market moves. every market seem to move diffrent in RSI. i use 4 help lines. both in RSI and Stoch.

oh and one more thing. wel iquess itsallso personal teast. but put FIXED. parameters. i use 0 - 100 but you ca play aroud and what seems to you to tell you the most how market is movid. when you just play around the setups and perios . and when the indicator start telling you most clear way to YOU how marked is moveing then you have found your own setup.

Wow, not much movement for the GBPJPY. Anyone have any ideas on when it will start to move like it normally does 150-250 pips a day? Or reasons why its not moving and hasn't since last Wednesday?

easter holidays, UK trading session will be very slow.

Are the UK or EUR trading floors closed today?

n_aftab,

Thank you for your reply. I just found out that London is closed today. This explains a lot about the lack of movement. Thanks again,

yezbick

I thing we will see 233.50 and then a blast to the 235 on the intrest rate dec tonight when the carry trades will kick in.....

Gotta check US Equity market today, since it didn't trade the NFP. All indexes are likely to start strong today. This WILL reflect in carry trades. Question is when. Throughout the session, late NYC/pre-Tokyo or tomorrow...

I'd like to see mid-233 in the minimum to go long... Don't like to trade GJ for small pips since the SL must always be wide.

shorted gj @ 233.80

How you enter your trades??

just want it to hold this level for 1 more hour.

Hi

I believe that it is a bank holiday (public holiday) both europe and UK trading floors. US should be trading as usual though so there should be some volitility then

he flips a coin. heads, he goes long. tails, he goes short.

LOL

Bravado, low volume rallies are a good thing suck in more longs to kick in the head, so when they bail they enter a sell order adding to the offer

Yeah...they are...I am in one right now

exit gj trade.

why don't you start your own trading journal rather than do it in this thread.

Careful boyee - he'll hit you.

actually, it was good entry for a short entry. but the best. but a good one.

seems like his account is getting hit harder.