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Daily GBP/JPY analysis

  • #3,421
  • Apr 19, 2007 9:31am Apr 19, 2007 9:31am
I think we just experienced a retracement to the 23.6 fib level & this thing is still a Bull, where the next 4 hour bar closes will tell alot. This week & next week will definitely let me know if I'm cut out to trade forex.

Quoting black06
Looks like it got rejected like Dikembe Mutombo off the 23.6 fib from 221 to the most recent swing high.
  • #3,422
  • Apr 19, 2007 9:35am Apr 19, 2007 9:35am
This monster is awaken up, with its nature behaviour. 300++ down, now 200+ up, in less than 16 hours. Got excited...guys?
  • #3,423
  • Apr 19, 2007 9:37am Apr 19, 2007 9:37am
Quoting black06
I think we just experienced a retracement to the 23.6 fib level & this thing is still a Bull, where the next 4 hour bar closes will tell alot. This week & next week will definitely let me know if I'm cut out to trade forex.
Like that most recent terminology Looks like we're hitting the most recent move down retracement (50% fibo on the 1H) or reversal or whatever anyone wants to call it.
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,424
  • Apr 19, 2007 9:37am Apr 19, 2007 9:37am
10:32US stocks have gained a bit since we last checked, but there is more to it than just that. The market is geared up for a falling dollar versus yen, crosses to take a bath, and high yielders to get hit. We are seeing the results of a market gettting carried away, too much too fast. Closing rates will be key today
  • #3,425
  • Apr 19, 2007 11:03am Apr 19, 2007 11:03am
Demonic indeed. Good thing I used a demo account for this untidy day, multiple hundred pip movements in several directions...ouch.

Anyhow, the latest bounce is off a very clear trendline (2nd , 14th, 28th March), so this may be the one. I would still not buy now until we see clear directions, maybe another candlestick north.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #3,426
  • Apr 19, 2007 11:23am Apr 19, 2007 11:23am
At the moment it appeas really strong up movement . when 237.25/30 barrier is broken and founded support. its all heads up.
  • #3,427
  • Apr 19, 2007 11:27am Apr 19, 2007 11:27am
Quoting Mother
At the moment it appeas really strong up movement . when 237.25/30 barrier is broken and founded support. its all heads up.
Dow another remarkable session, got out of a -60 swamp at open and now trades in the green +5 points... This is likely to inspire carry trades back, since the risk perception after China GDP seemed not affect NYers...

Damn it... Had to turn all my positions up side down with this last development....

Back to trades inline with the major trend though... this is the good news..
  • #3,428
  • Apr 19, 2007 11:28am Apr 19, 2007 11:28am
Well, at least wasn't just me

12:26 Market giving most traders a headache today
  • #3,429
  • Apr 19, 2007 11:49am Apr 19, 2007 11:49am
Quoting cesarnc
Back to trades inline with the major trend though... this is the good news..
indeed!

might give now a 3th try on the 25/30 barrier.
  • #3,430
  • Apr 19, 2007 11:52am Apr 19, 2007 11:52am
Camparing charts: daily, 4H, 1H, my instinct says this monster is heading south. After today exhaustic try south, it resurface (now 1H, 4H soon) for some breath, then subsequently another 800++ pips south, before come back to its original voyage north... (Daily). Any fortune teller here..
  • #3,431
  • Apr 19, 2007 11:57am Apr 19, 2007 11:57am
Quoting mohdzul2001
Camparing charts: daily, 4H, 1H, my instinct says this monster is heading south. After today exhaustic try south, it resurface (now 1H, 4H soon) for some breath, then subsequently another 800++ pips south, before come back to its original voyage north... (Daily). Any fortune teller here..
i have to disagreed. i todays bounce from 235.20 was holding the current trend togeather nicely. but will it find support soon is another question.

its starting to gather pressure there so i think soon might see some happening.
  • #3,432
  • Apr 19, 2007 11:58am Apr 19, 2007 11:58am
Quoting cesarnc
Well, at least wasn't just me

12:26 Market giving most traders a headache today
Actually, I've had a headache since yesterday.
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,433
  • Apr 19, 2007 12:04pm Apr 19, 2007 12:04pm
what does 'chart' mean ?

;D

-decca
  • #3,434
  • Apr 19, 2007 12:16pm Apr 19, 2007 12:16pm
Quoting mohdzul2001
Camparing charts: daily, 4H, 1H, my instinct says this monster is heading south. After today exhaustic try south, it resurface (now 1H, 4H soon) for some breath, then subsequently another 800++ pips south, before come back to its original voyage north... (Daily). Any fortune teller here..
The answer today seems to be "just pick one"

13:01 The US stock market is setting the stage for a reversal of last nights Asia/european equity dump. If you think the States represent the way forward, buying dollar yen, or maybe better, buying the crosses, is the smart play. If you think that the States are independent of the global equity market, and higher interest rates in China(if they raise rates as the Global economy thinks they will)then this is a great selling opportunity for the above 2 products.

I'm feeling like I have travelled back in time and London is opening in 5 min today
  • #3,435
  • Apr 19, 2007 12:16pm Apr 19, 2007 12:16pm
Quoting Mother
At the moment it appeas really strong up movement . when 237.25/30 barrier is broken and founded support. its all heads up.
I hope so cause I have been shorting the hell out of some yen this morning.
  • #3,436
  • Apr 19, 2007 12:16pm Apr 19, 2007 12:16pm
Quoting cesarnc
Well, at least wasn't just me

12:26 Market giving most traders a headache today
One day I'm going to find that analyst and shake his hand. I believe he's from efxnow or something, and it's not just one guy (24h coverage) unless he lives on coffee.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #3,437
  • Apr 19, 2007 12:28pm Apr 19, 2007 12:28pm
Seems now might come 237.25/30 break. it failed. might resolve some shorting.
  • #3,438
  • Apr 19, 2007 12:37pm Apr 19, 2007 12:37pm
t
Quoting Mother
Seems now might come 237.25/30 break. it failed. might resolve some shorting.
Talks of "Eastern Europeans" are big GBP sellers - check all of the whipsaws in your M15.

They have to run out of GBPs some time....

I'm needing to shout a big one fat bad word out loud now... be back later.
  • #3,439
  • Apr 19, 2007 12:48pm Apr 19, 2007 12:48pm
Cesar, I think it is beach time. Might look at the asian session.
  • #3,440
  • Apr 19, 2007 12:49pm Apr 19, 2007 12:49pm
As long as those pesky Russians don't start selling we should be fine. They seem to be able to move the market big time when they pull the trigger.

Cable still above 2.0 with all the selling going on.
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