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The Experts Zone: GBPJPY

  • #241
  • Apr 20, 2009 7:37am Apr 20, 2009 7:37am
Since the last post, the support level had been taken out & dragon had been spiralling, perhaps to the next support which is highlighted on the attached charts. No sign of this beast turning atm except small pullbacks. Those who went short should prolly just lock it in instead of pulling out, because if the next support gets taken out, it's gonna be a fun ride back to the abyss.
Anyway, good luck
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  • #242
  • Apr 20, 2009 1:02pm Apr 20, 2009 1:02pm
We're getting there ...
Doesn't matter if dragon breaks or bounce off this level, one thing for sure, the next ride will be wild
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  • #243
  • Apr 20, 2009 10:40pm Apr 20, 2009 10:40pm
A firm break of 141.70 is required to turn the outlook bearish, but overall the uptrend from 118 is still in progress and Monday's trade was a minor retrace.

A break of 145 and further 145.80 will t urn the outlook bullish towards the medium term resistance at 155.87.

I am better off on longer term charts, I give up scalping for good.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 15 KB
  • #244
  • Apr 20, 2009 11:00pm Apr 20, 2009 11:00pm
wormboy, please correct me if i have drawn the middle trendline on 4 hour wrongly.
Attached Image (click to enlarge)
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  • #245
  • Apr 20, 2009 11:35pm Apr 20, 2009 11:35pm
Quoting forexlion
wormboy, please correct me if i have drawn the middle trendline on 4 hour wrongly.
Good morning lion.

I have my midline drawn from the 14th November 08 on the 4hour close @145.5. That's the same line till what I'm looking at today.
I do however think there is a waning buying interest as you can see there is a line in the sand at the tail end of 142 level and that when London opens later it could well push and test the 141 lows again. I could be wrong, but it's only possible for me to change direction and go long from here on if I see strength.

Good luck brother
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Click to Enlarge Name: gy1.JPG Size: 86 KB
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  • #246
  • Apr 21, 2009 12:13am Apr 21, 2009 12:13am
By the way, we were here before not too long ago. Think I'll wait for the London bus to decide.
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  • #247
  • Apr 21, 2009 12:06pm Apr 21, 2009 12:06pm
With the momentum to the upside as the breakout had occured on my hourly and the old tl (line2) is respected on the 6hourly, the correction is behind us.
I am however keeping an eye on the 145 resistance, a successful break would most likely take us back to the previous high.
Trade safe & good luck
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  • #248
  • Apr 21, 2009 12:25pm Apr 21, 2009 12:25pm
posted this earlier #246.
That one's gone too.
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  • #249
  • Apr 21, 2009 8:52pm Apr 21, 2009 8:52pm
Quoting forexlion
A firm break of 141.70 is required to turn the outlook bearish, but overall the uptrend from 118 is still in progress and Monday's trade was a minor retrace.

A break of 145 and further 145.80 will t urn the outlook bullish towards the medium term resistance at 155.87.

I am better off on longer term charts, I give up scalping for good.
same old chart

we went up and bounced on the march high 145.05, and are now headed back down to the march close 142.59

should we actually reach the march close, then it might turn into a longer downtrend.

but if we bounce from the 143.50 area then we might see a retest of 145 and a possible break into 150 area.

traditionally there is a dumping before nfp, so lets see how far we go.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 15 KB
  • #250
  • Apr 21, 2009 11:55pm Apr 21, 2009 11:55pm
stupid range, when are we gonna break out from this

wednesday is triple swap rate and should see some strong buying just before the day ends
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 15 KB
  • #251
  • Apr 22, 2009 8:07am Apr 22, 2009 8:07am
well

that move caught me totally off guard
Attached Image (click to enlarge)
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  • #252
  • Apr 22, 2009 8:30am Apr 22, 2009 8:30am
Quoting forexlion
well

that move caught me totally off guard
That makes the both of us my friend
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  • #253
  • Apr 24, 2009 8:11am Apr 24, 2009 8:11am
I went on a small vacation till 26rh April and the thread dies out.

And surprisingly PandoraBox who had in the very first instance suggested starting a thread like this vanished into thin air.
  • #254
  • Apr 24, 2009 10:12am Apr 24, 2009 10:12am
Quoting forexlion
I went on a small vacation till 26rh April and the thread dies out.

And surprisingly PandoraBox who had in the very first instance suggested starting a thread like this vanished into thin air.
1. Mate, as I mentioned before I like this thread open to all traders and not limit to who have 10V.

2. I'm suggesting to you to open this thread???? What i can remember, somebody asked my opinion. Never mind...

I will try to post my analysis...relax mate....this thread still alive
  • #255
  • Apr 24, 2009 11:19am Apr 24, 2009 11:19am
Quoting PandoraBox
1. Mate, as I mentioned before I like this thread open to all traders and not limit to who have 10V.

2. I'm suggesting to you to open this thread???? What i can remember, somebody asked my opinion. Never mind...

I will try to post my analysis...relax mate....this thread still alive
Changed from 10v to 1v.
  • #256
  • Apr 24, 2009 12:14pm Apr 24, 2009 12:14pm
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 17 KB


  • #257
  • Apr 24, 2009 2:54pm Apr 24, 2009 2:54pm
even though we do not have any real bodies under the trendline, just the wicks

i am still not convinced for an uptrend.
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  • #258
  • Apr 25, 2009 1:41am Apr 25, 2009 1:41am
I am looking for a break and possibly a retest of the immediate red trendline, as confirmation of GJ continuation of an upmove to the Daily up channel line. Trendlines and SnR lines above it is place for possible take profit as well as potential reversal zone.

Attached Image (click to enlarge)
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  • #259
  • Apr 25, 2009 4:44am Apr 25, 2009 4:44am
Quoting hartnet
I am looking for a break and possibly a retest of the immediate red trendline, as confirmation of GJ continuation of an upmove to the Daily up channel line. Trendlines and SnR lines above it is place for possible take profit as well as potential reversal zone.

Attachment
What we can conclude from COT report - GBP Futures 21 April 2009

Hedge Fund - They want GBP down

Commercial Bank - They want GBP Up

Retail Traders - They want GBP down

Buying power now from commercial bank.

p/s: Just take a look at net long position contracts.
  • #260
  • Apr 26, 2009 3:31pm Apr 26, 2009 3:31pm
GJ will gap down, opening around 142.30

and the focus this week will be on 135 / 136 levels

enjoy your charts
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