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Daily GBP/JPY analysis

  • #3,381
  • Apr 19, 2007 1:35am Apr 19, 2007 1:35am
additional buy @ 235.83 il be with you gbp/jpy additional buy every time it change the big figure "Plant Now Harvest Later"
  • #3,382
  • Apr 19, 2007 1:48am Apr 19, 2007 1:48am
Quoting trader8686
Did anyone see the head and shoulder formed on the 1H chart?
yes I saw it last night. At least it was the only reason for which I was happy after that shitty recovery up to 238.30.

Well, instead of complaining because I missed this wonderful down move, I should start looking for an entry.
We leave no soldier behind.
  • #3,383
  • Apr 19, 2007 1:49am Apr 19, 2007 1:49am
now what was this just now? 225.24 as i speak...
the chinese news hasn't come out yet, right? 3 am EST? it's now 2.45 am EST... or has it?
i'm still in short though..
  • #3,384
  • Apr 19, 2007 1:49am Apr 19, 2007 1:49am
Wow, bears are much more fun than bulls I see. Shorted at 236.35 & picked up 100 pips quick! This thing is dropping it like it's hot!
  • #3,385
  • Apr 19, 2007 2:03am Apr 19, 2007 2:03am
I'm not so sure.
  • #3,386
  • Apr 19, 2007 2:06am Apr 19, 2007 2:06am
I told you guys you have to hold on to your buying position who told you that forex is a difficult game making money, making money go up up in away gbp/jpy!
  • #3,387
  • Apr 19, 2007 2:07am Apr 19, 2007 2:07am
07:00 CNY ECON: Q1 GDP +11.1% y/y. March CPI +3.3% y/y] The 3.3% CPI number matches pre-release rumours.
  • #3,388
  • Apr 19, 2007 2:07am Apr 19, 2007 2:07am
Ok, I'm out. This thing has moved 100 pips both ways in a half hour, this is insane!
  • #3,389
  • Apr 19, 2007 2:08am Apr 19, 2007 2:08am
100pip move in 7 minutes - looking a bit choppy today
  • #3,390
  • Apr 19, 2007 2:09am Apr 19, 2007 2:09am
Dippie buyers unite! Did the news come out yet? What was the annoucement by the Chineses? I wish I knew what was going on. I'm thinking of dipping at 236.
  • #3,391
  • Apr 19, 2007 2:12am Apr 19, 2007 2:12am
haha, im such a noob...
i thought the news were out prematurely so i didnt close at 5 minutes before 3...
i should have known these people are damn strict about timing, oh well...
at least i got the retracement back down..
  • #3,392
  • Apr 19, 2007 2:13am Apr 19, 2007 2:13am
Looks like it got rejected like Dikembe Mutombo off the 23.6 fib from 221 to the most recent swing high. Unfortunately it reversed 6 pips from my take profit.
  • #3,393
  • Apr 19, 2007 2:17am Apr 19, 2007 2:17am
I think longs with SLs on the opposite side of 235 are safe for the moment.
  • #3,394
  • Apr 19, 2007 7:45am Apr 19, 2007 7:45am
Getting a bounce up now? Everyone what's your thoughts?
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,395
  • Apr 19, 2007 7:47am Apr 19, 2007 7:47am
Quoting Sami7
You know, I'd say, we would be heading toward a reversal. B/C of all those fibo levels. I could see us going to 234.72, but not much further down. Not sure. Wish I could say I've had a good week trading, can't though.
Sami7, my reversal and your reversal sounds different.
If it is stop at 234.72, then it would be just a retracement.
Now, I am a little confused. Can you give me a good definition of reversal and retracement?
  • #3,396
  • Apr 19, 2007 7:51am Apr 19, 2007 7:51am
Quoting trader8686
Sami7, my reversal and your reversal sounds different.
If it is stop at 234.72, then it would be just a retracement.
Now, I am a little confused. Can you give me a good definition of reversal and retracement?
You know I'm glad your on this thread (I mean that) I need a refresher course in terminology. Let me think about this. The original trend is long. The retracement is short. If it continues down it is still a retracement. If it bounces up then hmmm....it's a reversal b/c it is going back to the original trend. Someone feel free to correct me if I'm mixing it up.
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,397
  • Apr 19, 2007 7:55am Apr 19, 2007 7:55am
See, Sami7, retracement to me is temperarily out of trend and goes the opposite then comes back to the trend. Where reversal is the trend going totally opposite direction.

Somebody in this room correct us or give us a confirmation here, please..................
  • #3,398
  • Apr 19, 2007 7:57am Apr 19, 2007 7:57am
Big fix in 2. Gonna shake USD only, imo. But wide SL will be nice
  • #3,399
  • Apr 19, 2007 7:59am Apr 19, 2007 7:59am
what big fix are you talking about cesar???
  • #3,400
  • Apr 19, 2007 8:00am Apr 19, 2007 8:00am
i am with you trader, but hey, i am new and i could be wrong.
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