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Daily GBP/JPY analysis

  • #3,561
  • Apr 20, 2007 7:42am Apr 20, 2007 7:42am
Quoting smikester
Really respect your views, cesar, just down get blown off the forums...

By the way, please remind me where you get your news feeds?

Regards.
Sorry 'bout that...

Good news is that I didn't cut the trade out and it's back to biz already... But I fear for the 20 pips SLers

News here. http://masterforex.co.uk/Html/FXStation/FXToolz.html

click Live Market Commentary - menu on the left.
  • #3,562
  • Apr 20, 2007 8:00am Apr 20, 2007 8:00am
08:58reverse head and shoulders pattern on the 60 minute dollar yen chart. The target is 119.50

didn't check...
  • #3,563
  • Apr 20, 2007 8:12am Apr 20, 2007 8:12am
Quoting cesarnc
08:58reverse head and shoulders pattern on the 60 minute dollar yen chart. The target is 119.50

didn't check...
119.00/10 to be toppish today
09:11Dow could be the story of the NY morning, up 92 and raging higher today despite the gloomy growth prospects from the brokerage houses. Who needs growth to drive the stock market!!liquidity reigns supreme!
  • #3,564
  • Apr 20, 2007 8:30am Apr 20, 2007 8:30am
you guys have a great day. i am not going to be trading but will be popping in and out. made a huge chunk yesterday so it is better to just take a break!
  • #3,565
  • Apr 20, 2007 8:31am Apr 20, 2007 8:31am
watchout

[MORE ON US EMBASSY THREAT] A German newspaper says that an Iraqi group is planning such attacks (on the US embassy in Germany). If true, it seems the "insurgency" is now broadening its horizons and looking to hit US interests outside of Iraq. Since, the [USD] has ticked lower, but there has been no real selloff. The Iraqi group's plans caused the US to raise the threat level in Germany.
  • #3,566
  • Apr 20, 2007 8:36am Apr 20, 2007 8:36am
Quoting cesarnc
119.00/10 to be toppish today
09:11Dow could be the story of the NY morning, up 92 and raging higher today despite the gloomy growth prospects from the brokerage houses. Who needs growth to drive the stock market!!liquidity reigns supreme!
How about this TRICHET?

Sorry, just venting.... His BS took my trade -20 drawdown and now I was TP for + 20...
  • #3,567
  • Apr 20, 2007 8:38am Apr 20, 2007 8:38am
Whee what a morninig. my friday the 13th came in delay. monitor sad final NAKS and nindedo memoryes passed tru my mind. and broke headphones in the action.. but seem i got in right time there is some move happening.


watch out 238.25/30 barrier. if it gets there
  • #3,568
  • Apr 20, 2007 8:38am Apr 20, 2007 8:38am
Dow Jones +140 by the bell... Good for carries... Watch on the US Embassy rumors...

I'm all-out already...
  • #3,569
  • Apr 20, 2007 8:45am Apr 20, 2007 8:45am
It all ties together? Doesn't seem to hurting USD/JPY. Ichimoku says all systems go. Unfortunately doesn't tell me where to get off.
Gone to a better place
  • #3,570
  • Apr 20, 2007 8:57am Apr 20, 2007 8:57am
Quoting smikester
It all ties together? Doesn't seem to hurting USD/JPY. Ichimoku says all systems go. Unfortunately doesn't tell me where to get off.
EURO got offered across the board and USD shorts left the building by the threat... Apparent USD buyout was actually all-European longs running for cover...

UJ longs jumpped in the bandwagon for the ride only to gun stops at 118.95...

I'm all-out today... thank God. Survived and profited another Friday...
  • #3,571
  • Apr 20, 2007 9:36am Apr 20, 2007 9:36am
grrrr had to wake at 4.30 today just to close 2 orders in loss ..... now i'm mad .... at least i made long order which is in some profiit now, how do u determine the size of the move down ??? because I could prevent my loss my applying TS and would be fine with 70-80 pips in + from this move down
  • #3,572
  • Apr 20, 2007 9:45am Apr 20, 2007 9:45am
Quoting Vitaliy
grrrr had to wake at 4.30 today just to close 2 orders in loss ..... now i'm mad .... at least i made long order which is in some profiit now, how do u determine the size of the move down ??? because I could prevent my loss my applying TS and would be fine with 70-80 pips in + from this move down
my suggestion is to stop trading against the trend!!! why will people not understand this? the trend has still not been broken. You WILL!! continue to lose if you trade against this trend. It is worth it to me to miss 250 pips and it just reverse back on me. when this thing changes trends, it runs 1,000's of pips. so stop trading against it!
  • #3,573
  • Apr 20, 2007 9:52am Apr 20, 2007 9:52am
Quoting bmwboyee
my suggestion is to stop trading against the trend!!! why will people not understand this? the trend has still not been broken. You WILL!! continue to lose if you trade against this trend. It is worth it to me to miss 250 pips and it just reverse back on me. when this thing changes trends, it runs 1,000's of pips. so stop trading against it!
how you will define trend change ? it went down 250 that looked like pretty much like a retracement ...
just trying to understand when the trend change happens ...
  • #3,574
  • Apr 20, 2007 9:56am Apr 20, 2007 9:56am
Quoting Vitaliy
grrrr had to wake at 4.30 today just to close 2 orders in loss ..... now i'm mad .... at least i made long order which is in some profiit now, how do u determine the size of the move down ??? because I could prevent my loss my applying TS and would be fine with 70-80 pips in + from this move down
Vitaliy,

A couple of suggestions. First and foremost, do not trade against the trend which was and has been long. The Retracement we saw was only that, and fibos would have helped tell you where the currency would have retraced to. Draw fibos on every chart you have. I would suggest you set up your charts with some emas to help you identify the trend to begin with. Also, remember support and resistance as the currency respects those. There are other things also that would help, such as not doing swing trading if you are not making consistent profit. Go for the short-term trading until you feel comfortable and leaving a position on overnight is dangerous, in any scenario - so proper money mgmt for those kinds of trades is impt. Best of Luck.
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,575
  • Apr 20, 2007 10:06am Apr 20, 2007 10:06am
Does anyone see the GBP/JPY topping out and looking like it may favor shorts soon????


B.
"Skills pay the bill's!"
  • #3,576
  • Apr 20, 2007 10:09am Apr 20, 2007 10:09am
Quoting Vitaliy
how you will define trend change ? it went down 250 that looked like pretty much like a retracement ...
just trying to understand when the trend change happens ...
IMO a trend change at this point would be a break of 233 range.
  • #3,577
  • Apr 20, 2007 10:28am Apr 20, 2007 10:28am
Closed out for the week, 100 Pips GBPJPY, 50 PIPS USDJPY, trends are beautiful. Hope you guys did good.

End of fridays (last 4 hours or more) usually see a dip as ppl cash in on the trades. Sunday evening we should shoot back up again. I suggest ppl pull out either now or max 3-4 hours from now. See you all in the next dip
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #3,578
  • Apr 20, 2007 10:33am Apr 20, 2007 10:33am
tension is breaking up between the fibos. might give a bull sign.
  • #3,579
  • Apr 20, 2007 10:42am Apr 20, 2007 10:42am
Easy money, I managed to pick up a few lots around 2.0000 , Now have another long order up 70 pips on GJ. Cable has saved this week from being alot worse than it could have for me.

Quoting cesarnc
I've seen news coming bad, pushing against the trend just to give the bulls a very good price to go back in... And this 9990s were awesome prices to buy.
  • #3,580
  • Apr 20, 2007 10:45am Apr 20, 2007 10:45am
Wow, glad I was asleep on this. I see the spike down, would have been pissed lol

Quoting cesarnc
I have to quit trading this FUCKING currency JUST because of those fucking bastards poppin in out of their shitholes to SCREW with the market .... FUCKING BASTARD!!!!!!!!!!!!!!!!!!!

YEN close to 119 and "should reflect economy" crap appears to DRIVE THE CURRENCY AS THEY WISH, not how the market perceives!!!!!!!!!!
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