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Daily GBP/JPY analysis

  • #3,301
  • Apr 18, 2007 10:08am Apr 18, 2007 10:08am
Quoting Sami7
Thinking we will see 236.xx. Not shorting. Will long on a bounce up.
I would be careful, as it might only be a retracement. I will probably buy only when I will see a downside limited move and higher swing highs and lows, as the story says. Im praying to see 236.50 and for the damn dollar to go under 118 for god sake.
We leave no soldier behind.
  • #3,302
  • Apr 18, 2007 10:17am Apr 18, 2007 10:17am
Quoting gagiul
I would be careful, as it might only be a retracement. I will probably buy only when I will see a downside limited move and higher swing highs and lows, as the story says. Im praying to see 236.50 and for the damn dollar to go under 118 for god sake.
Think I'll have a cup of tea.
Gone to a better place
  • #3,303
  • Apr 18, 2007 11:02am Apr 18, 2007 11:02am
Quoting smikester
Think I'll have a cup of tea.
Between going long or short, whatever the pair, you're decision is what will reward better
  • #3,304
  • Apr 18, 2007 11:06am Apr 18, 2007 11:06am
Quoting cesarnc
Between going long or short, whatever the pair, you're decision is what will reward better
I think my brain is frying. Do you know why my EUR/USD is going against me?
Gone to a better place
  • #3,305
  • Apr 18, 2007 11:07am Apr 18, 2007 11:07am
Righty Oh!

G/Y is heading south as most predicted.

On the 30 min: It broke through 200sma and the daily S1 (almost at the exact same time @ 237.24) As well it dropped below the 100sma on the 1hr.

Yes, I'll buy the dips all the way down. Looking further, I'm guessing this is a retrace, and expect a BIG bounce off the the 236.38. where the Monthly R1, the Weekly pivot and the 61.8% Fibo all converge within 30pips of each other!

But if it squeezes past all these points of resistance, are we in a reversal.


Thoughts?
  • #3,306
  • Apr 18, 2007 11:11am Apr 18, 2007 11:11am
Quoting Linuxist
Righty Oh!

G/Y is heading south as most predicted.

On the 30 min: It broke through 200sma and the daily S1 (almost at the exact same time @ 237.24) As well it dropped below the 100sma on the 1hr.

Yes, I'll buy the dips all the way down. Looking at the 4hr., I'm guessing this is a retrace, and expect a BIG bounce off the the 236.38. where the Monthly R1, the Weekly pivot and the 61.8% Fibo all converge within 30pips of each other!

But if it squeezes past all these points of resistance, are we in a reversal.


Thoughts?
One more time - I am buying the bounce at 236.53. Again, I think this is a retracement. That is my plan. And coffee sounds really good right now. Oh- and if it goes down further, I'll take a small loss.
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,307
  • Apr 18, 2007 11:15am Apr 18, 2007 11:15am
I was just warned of a possible H&S forming in the Daily USDJPY, nackline 115s and target 105.

OF COURSE it's not for the upcoming days, but we have to be aware of this pattern in formation....

at 117.80-118.00 a shorter-term trendline is under testing. It gives away, the neck line is exposed.

Japan econ. recovery and another rate hike may prop this move.

USD-index also under heavy and apparently endless pressure, putting new lows after new lows. It's about to reach Jan 2005 bottom, after which (and below 80 mark) things will get ugly for the greenback.

This pattern is not emerging in GJ.
  • #3,308
  • Apr 18, 2007 11:16am Apr 18, 2007 11:16am
Quoting Sami7
I am buying the bounce at 236.53.
This looks like another coolly calculated Fibonacci trace?
Gone to a better place
  • #3,309
  • Apr 18, 2007 11:20am Apr 18, 2007 11:20am
Quoting smikester
I think my brain is frying. Do you know why my EUR/USD is going against me?
I quit trading EU a long time ago. I'll file suit against EURUSD for mental abuse, account rape, stalking. Hope it to get the chair.
  • #3,310
  • Apr 18, 2007 11:23am Apr 18, 2007 11:23am
Quoting smikester
This looks like another coolly calculated Fibonacci trace?
yep, you are so right. 61.8% fibo number
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,311
  • Apr 18, 2007 11:27am Apr 18, 2007 11:27am
Quoting cesarnc
I quit trading EU a long time ago. I'll file suit against EURUSD for mental abuse, account rape, stalking. Hope it to get the chair.
The first currency I ever traded and the Worse currency I ever traded. Never moved, I called it "old nellie".
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,312
  • Apr 18, 2007 11:28am Apr 18, 2007 11:28am
Quoting cesarnc
I quit trading EU a long time ago. I'll file suit against EURUSD for mental abuse, account rape, stalking. Hope it to get the chair.

ROFL too funny but have to agree, i hate that slug
"Millionaires don't use astrology, billionaires do"
  • #3,313
  • Apr 18, 2007 11:29am Apr 18, 2007 11:29am
Quoting cesarnc
I quit trading EU a long time ago. I'll file suit against EURUSD for mental abuse, account rape, stalking. Hope it to get the chair.
LOL, but now, a long time later, you´re a big strong bull with big b*lls, so you can take your revenge and take thousands of pips back!!

http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #3,314
  • Apr 18, 2007 11:36am Apr 18, 2007 11:36am
Not wishing to be known for trading a stalking slug called Old Nellie, I think I'll close my position. I have a reputation to build here...

Better get back on the Dragon
Gone to a better place
  • #3,315
  • Apr 18, 2007 11:36am Apr 18, 2007 11:36am
You bulls should get another chance to liquidate around the 37.70-80 area or there abouts, last chance before you get crushed me thinks
"Millionaires don't use astrology, billionaires do"
  • #3,316
  • Apr 18, 2007 11:44am Apr 18, 2007 11:44am
Orion: you have been trying to short this thing for a long time. but i do think it is very close to the time.
  • #3,317
  • Apr 18, 2007 11:54am Apr 18, 2007 11:54am
Yes have a terrible problem of being early, surely the cause of stress.
"Millionaires don't use astrology, billionaires do"
  • #3,318
  • Apr 18, 2007 12:10pm Apr 18, 2007 12:10pm

starting to thing that it was a good idea to buy at 236.85, for a quick scalping profits. Seems the bears crushed their head against the wall.

We leave no soldier behind.
  • #3,319
  • Apr 18, 2007 12:25pm Apr 18, 2007 12:25pm
Quoting gagiul

starting to thing that it was a good idea to buy at 236.85, for a quick scalping profits. Seems the bears crushed their head against the wall.

Don't speak to soon. This is could be a trend breaking drop, if you look at the wider view (H4). A small hesitation as people take in profits is not necessarily a bounce up. I'm still bullish, but staying out right now.

I will only buy if I see solid candles all the way back to 238 (should be 2 candlesticks if this "dip" is over).
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #3,320
  • Apr 18, 2007 12:48pm Apr 18, 2007 12:48pm
Quoting Plutonite
Don't speak to soon. This is could be a trend breaking drop, if you look at the wider view (H4). A small hesitation as people take in profits is not necessarily a bounce up. I'm still bullish, but staying out right now.

I will only buy if I see solid candles all the way back to 238 (should be 2 candlesticks if this "dip" is over).
Thanx for ur insight Plutonite. I was thinking actually about a kind of hedge - a long at 237 could have easily brought 50 pips it seems while still keeping the short. Anyway, Im still short and waiting for 236.50 to be touched.
I read that a very famous broker is short too, dont know if this helps.
We leave no soldier behind.
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