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Daily GBP/JPY analysis

  • #3,181
  • Apr 13, 2007 11:14am Apr 13, 2007 11:14am
Quoting Traex
There might be a last rally making new high later imo (testing 237 for real). After that it'll go down deep?
Yep, what I'm seeing is a little more down time and then a retest. I'll get in when I'm sure this down move is done and set a limit to 237.00 And then, very cautiously wait for the movement down although I think it will be starting on Sunday.
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,182
  • Apr 13, 2007 11:26am Apr 13, 2007 11:26am
I have a t/p on my short at 235.80. not sure if it will hit today.
  • #3,183
  • Apr 13, 2007 11:35am Apr 13, 2007 11:35am
Quoting bmwboyee
I have a t/p on my short at 235.80. not sure if it will hit today.
50% fibo on the hourly is the same figure I have.
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,184
  • Apr 13, 2007 11:42am Apr 13, 2007 11:42am
Quoting Sami7
Yep, what I'm seeing is a little more down time and then a retest. I'll get in when I'm sure this down move is done and set a limit to 237.00 And then, very cautiously wait for the movement down although I think it will be starting on Sunday.
Roger that!
Let's see where this upcoming 'mini' rally will take this thing up to. This pair really likes to make extensions over extensions in its 5th wave. Caution is much needed indeed.
Oh, and USD/JPY is in its 5th wave too in h1 chart btw.
Tra-X
  • #3,185
  • Apr 13, 2007 12:48pm Apr 13, 2007 12:48pm
I am ready for the bears to come and feed.

http://www.clarkvision.com/galleries...3544.b-700.jpg
  • #3,186
  • Apr 13, 2007 1:21pm Apr 13, 2007 1:21pm
Quoting bmwboyee
I am ready for the bears to come and feed.

http://www.clarkvision.com/galleries...3544.b-700.jpg
Great pic. Yep, ready on this end. Get ready to RUMBLE!http://www.forexfactory.com/images/icons/icon10.gif
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,187
  • Apr 13, 2007 3:54pm Apr 13, 2007 3:54pm
Quoting bmwboyee
I am ready for the bears to come and feed.
Maybe it's just me. But I think there's a reflection of a bull in this water....

These are my thoughts. Not gonna post them again here.

Nice weekend you all
  • #3,188
  • Apr 13, 2007 4:10pm Apr 13, 2007 4:10pm
Gain Capital Commentary: Anyone flying without their seatbelt on today likely slammed their head against the top of the aircraft..We expect more turbulence thru G-7 weekend.

Oh god am I drunk or Am I drunk?
  • #3,189
  • Apr 13, 2007 4:25pm Apr 13, 2007 4:25pm
I've posted this picture in this forum for many times already... Nobody seemed to care before... But that's what I see for quite sometime
Attached Image
  • #3,190
  • Apr 13, 2007 4:30pm Apr 13, 2007 4:30pm
hello, it's my first post ever here at forexfactory. I usually use calendar most of the time, but decided to join the forum.

Anyhow, i guess it's too late to say anything about G7 meeting now since the trading session is over but it's not a good idea to sell any yen pairs. We should not hope that they say something that will make yen strengthen. As always it's always much better to find a level to buy.
  • #3,191
  • Apr 13, 2007 4:40pm Apr 13, 2007 4:40pm
unless something totally unexpected happens during G7 which causes crazy YEN buying or GBP selling, BUY THE DIPS!!! i cant say this enough. dont fight the freakin trend.
  • #3,192
  • Apr 13, 2007 4:48pm Apr 13, 2007 4:48pm
[DOW and GBP/JPY]

Heres with Monthly DOW

http://www.kapteeni.org/iRMA/DOW0414.gif


and heres with the 4h shard

http://www.kapteeni.org/iRMA/gj0414.gif

Let see :o)
  • #3,193
  • Apr 13, 2007 5:08pm Apr 13, 2007 5:08pm
Quoting Sami7
Yep, what I'm seeing is a little more down time and then a retest. I'll get in when I'm sure this down move is done and set a limit to 237.00 And then, very cautiously wait for the movement down although I think it will be starting on Sunday.
Ok, in case anyone is not sure where my position is - see above. I've not traded today. I did not trade the retrace. I may not trade on Sunday. I am extremely cautious. I am however, planning on getting into a long and setting a safe limit of 237 if I feel the indications are right. 237 may be the top, however, it may not be. And then I will go from there. My avatar and bear sentiment can change at any time (and usually does). So, we shall see. I'm enjoying this thread and reading the great input. Have a great weekend!
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,194
  • Apr 13, 2007 5:08pm Apr 13, 2007 5:08pm
Quoting karma729
unless something totally unexpected happens during G7 which causes crazy YEN buying or GBP selling, BUY THE DIPS!!! i cant say this enough. dont fight the freakin trend.
The bright side of doing this is that you can catch the price really near of a short term support, thus the risk of the trend goes to minimal levels...

You set SL below this support and you have the whole move up to take profit. Allows you to increase your risk:reward ratio when trading multiple lots. 30 pips SL for 50-100 profit intraday in the minimum.

catching tops in an uptrend is the opposite. You don't know where the support is anymore for you to TP - may be 20 pips below, may be 2 pips below and your SL stays in a vulnerable area, since there's no trustoworthy resistance above you entry, since you are against a trend.

Risk down the hole, reward up the skies.
  • #3,195
  • Apr 13, 2007 6:57pm Apr 13, 2007 6:57pm
Man!

Had I Bought in the last Dip, I'd be 160+pips richer!!! :0

Sound Freakin' Advice in ANY pair, Dude.


Quoting karma729
unless something totally unexpected happens during G7 which causes crazy YEN buying or GBP selling, BUY THE DIPS!!! i cant say this enough. dont fight the freakin trend.
  • #3,196
  • Apr 13, 2007 7:58pm Apr 13, 2007 7:58pm
Quoting Linuxist
Man!

Had I Bought in the last Dip, I'd be 160+pips richer!!! :0

Sound Freakin' Advice in ANY pair, Dude.
This is called the "A-ha" moment...

Another soul saved from the counter-trend-for-small-pips devil

Well done karma

  • #3,197
  • Apr 14, 2007 4:23am Apr 14, 2007 4:23am
Quoting gagiul

wht do u mean by using abreviations?




is there anybody on the short side now? or still waiting?


LOL...abbreviation for currency pairs... i.e. GJ ... which actually means GBP/JPY currency pair.
  • #3,198
  • Apr 14, 2007 1:23pm Apr 14, 2007 1:23pm
Cesarnc Rules!!!, Thanks for your posts man,... Helped me a lot,...
  • #3,199
  • Apr 14, 2007 1:53pm Apr 14, 2007 1:53pm
Quoting ckny74
...this pair dropped 30 PIPs... Screw it! I'm buying more... This is how I lose money in Forex!
minutes later...

Quoting ckny74
...I did buy more... Kind of thinking that might have been a mistake (too much leverage now)...
I guess he lost more, because the pair drop below 235, probably more than 50 pips away from his entry and looking at his last post im guessing he didnt handled the pressure because he wrote the post at 6 pm EST and the pair only started to rise at 6 am EST next day, as widely expected.

He was right in having a long position on this pair but this is a lesson of having confidence in huge stops not in little ones because if you made a good entry the pair will never drop 200 pips bellow your entry AGAINST technicals and fundamentals screaming at you to go long.

So im curious, where is this guy to teach the comunity, the valuable lesson of "do not lose focus again"

PS: For the ppl who got short selling a currency clearly getting stronger at his time, just because the asian session started to take some profit, to be safe for one day, i just want to say, its good to be someone that is not you guys. Im winning 30 percent profit this month thanks to ppl who short pairs with "long" technicals and "long" fundamentals.

You are the persons who lose money AND make the good traders lose money a few times because they dont believe how can it be possible to see a pair drop against the logical sense of "the pair is getting stronger lets go long, not short" and then they(good traders) get their stops hit against the obvious trend.

I dont know yet if i will be sucessful in the future. I dont know if i will be one the the 90 or 95 that loses in forex.

2 things i know. If i do not make it... im sure that it will not be for going "against freaking trends" like karma729 said , or "Hulk strenght fundamentals" like you ppl desrespect.

The other thing is that i know for sure that you are the "90 percent" guys.

Thanks a lot for selling me cheap and buying me high! Please continue and i will send you a gift in 5 years... A foto of my new Lamborghini.
  • #3,200
  • Apr 14, 2007 5:48pm Apr 14, 2007 5:48pm
Quoting Warper
minutes later...



I guess he lost more, because the pair drop below 235, probably more than 50 pips away from his entry and looking at his last post im guessing he didnt handled the pressure because he wrote the post at 6 pm EST and the pair only started to rise at 6 am EST next day, as widely expected.

He was right in having a long position on this pair but this is a lesson of having confidence in huge stops not in little ones because if you made a good entry the pair will never drop 200 pips bellow your entry AGAINST technicals and fundamentals screaming at you to go long.

So im curious, where is this guy to teach the comunity, the valuable lesson of "do not lose focus again"

PS: For the ppl who got short selling a currency clearly getting stronger at his time, just because the asian session started to take some profit, to be safe for one day, i just want to say, its good to be someone that is not you guys. Im winning 30 percent profit this month thanks to ppl who short pairs with "long" technicals and "long" fundamentals.

You are the persons who lose money AND make the good traders lose money a few times because they dont believe how can it be possible to see a pair drop against the logical sense of "the pair is getting stronger lets go long, not short" and then they(good traders) get their stops hit against the obvious trend.

I dont know yet if i will be sucessful in the future. I dont know if i will be one the the 90 or 95 that loses in forex.

2 things i know. If i do not make it... im sure that it will not be for going "against freaking trends" like karma729 said , or "Hulk strenght fundamentals" like you ppl desrespect.

The other thing is that i know for sure that you are the "90 percent" guys.

Thanks a lot for selling me cheap and buying me high! Please continue and i will send you a gift in 5 years... A foto of my new Lamborghini.
You don't make any fu***** sense!!! I've been trading G/J long enough to know when to short and when not to. Friday I caught 100+ on the short and 100+ on the long. And I don't trade demo, micro or mini like 99% around here. Stick your new Lamborghini up your ass, MORON!! (In 5 years, HaHa)
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