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Daily GBP/JPY analysis

  • #2,961
  • Apr 10, 2007 7:02am Apr 10, 2007 7:02am
Quoting Traex
Even better. Good lady luck there.
Thanks Tra-x miss those charts your so famous for!
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,962
  • Apr 10, 2007 7:19am Apr 10, 2007 7:19am
USD sellout is pulling back now, Americans getting patriotic. But I still have faith in the 235 breach (went long at 235.10), although the GJ seems to have no will of it's own. Movements are being dictated by the dollar. What happened to the GJ traders? Are we really this few?
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #2,963
  • Apr 10, 2007 7:33am Apr 10, 2007 7:33am
Quoting bmwboyee
my suggestion to all : do not trade against the trend. I see a lot of people doing that in this thread. Just one of the lessons i learned the hard way.
Second you.... Soooo much easier....

I don't care about not making the pips when the pair is moving against the trend, because trading the bottom/top gives you much better risk:reward ratio!

For instance, It will be much safer to long GJ again if it comes down to 233 than shorting it now, that it can still go to 236 in a spike...

Same for GU. We already know where the supports are, but we can't be sure at which price the buyers will vanish at this high level. Can be 9725 but it can be 9820 again... Shorting now is just too risky, no matter what the rocket science based technological NASA developed indicators TRY to say...
  • #2,964
  • Apr 10, 2007 7:36am Apr 10, 2007 7:36am
Quoting Sami7
Thanks Tra-x miss those charts your so famous for!
Sorry, got an ambiguous count in this pair currently. Just ride it out for now.
Tra-X
  • #2,965
  • Apr 10, 2007 8:18am Apr 10, 2007 8:18am
We seem to be holding at the 38.2% fibo (1H) chart. I'm not seeing heading back down to 233.
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,966
  • Apr 10, 2007 8:34am Apr 10, 2007 8:34am
Took the opportunity to add to my shorts @ 235.10
"Millionaires don't use astrology, billionaires do"
  • #2,967
  • Apr 10, 2007 8:50am Apr 10, 2007 8:50am
Quoting OrionsWay
Took the opportunity to add to my shorts @ 235.10
Nice trade. I'm short from 234.95.
  • #2,968
  • Apr 10, 2007 8:56am Apr 10, 2007 8:56am
Quoting cesarnc
No reason for admiration... Save it for the day I make a miliion out of this dreaded market.

...

But my blood was chilling with all bears calling for GU at 9550 (or lower). This time I stood with my view, since I've lost money before jumpping in other people's.
informative post. as always.

as for myself, still out of the market until wednesday.
BAM BAM BOOM! -bravado
  • #2,969
  • Apr 10, 2007 8:57am Apr 10, 2007 8:57am
now where is my popcorn?
BAM BAM BOOM! -bravado
  • #2,970
  • Apr 10, 2007 9:50am Apr 10, 2007 9:50am
im still long since 234.45
  • #2,971
  • Apr 10, 2007 10:18am Apr 10, 2007 10:18am
bought more on the dip at 234.70. i don't understand why some of you guys are going against the trend. so be it.
  • #2,972
  • Apr 10, 2007 10:52am Apr 10, 2007 10:52am
because it really looks like the trend will change very soon.
  • #2,973
  • Apr 10, 2007 11:00am Apr 10, 2007 11:00am
Is the trend going down on the GP because the GU is going down? Will GU continue to go down?
  • #2,974
  • Apr 10, 2007 11:01am Apr 10, 2007 11:01am
Wouldn't it be better to wait for the trend to change than try to predict a change?
Illegitimi Non Carborundum
  • #2,975
  • Apr 10, 2007 11:05am Apr 10, 2007 11:05am
Quoting Choopyaz
Wouldn't it be better to wait for the trend to change than try to predict a change?
Well, there were strong short signals and then it reversed and shot up and it has lost 40 pips in the last several hours. I am new so would that constitute a change in and unexpected trend?
  • #2,976
  • Apr 10, 2007 11:06am Apr 10, 2007 11:06am
well my indicators already showed two time trend change on 4H ... so i have to 2 orders in opposite directions ....
  • #2,977
  • Apr 10, 2007 11:21am Apr 10, 2007 11:21am
Quoting Big P
Well, there were strong short signals and then it reversed and shot up and it has lost 40 pips in the last several hours. I am new so would that constitute a change in and unexpected trend?
a trend change for this pair could be up to a 200 pip swing. I will continue to buy every 50 pips until we break 233. that is just me though.
  • #2,978
  • Apr 10, 2007 11:42am Apr 10, 2007 11:42am
Quoting bmwboyee
a trend change for this pair could be up to a 200 pip swing. I will continue to buy every 50 pips until we break 233. that is just me though.
What do you see happening to GU?
  • #2,979
  • Apr 10, 2007 11:51am Apr 10, 2007 11:51am
I think there is pretty strong support at 1.97 range. I am going to look more to U/J during the asian session to see what G/J will do.
  • #2,980
  • Apr 10, 2007 11:56am Apr 10, 2007 11:56am
Quoting bmwboyee
I think there is pretty strong support at 1.97 range. I am going to look more to U/J during the asian session to see what G/J will do.
Well, I went short at 9716 fairly heavy. IYO, do you see GU dipping back to the day's low or lower today? Thanks for your opinions...
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