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Daily GBP/JPY analysis

  • #3,781
  • Apr 23, 2007 7:01pm Apr 23, 2007 7:01pm
Somebody is buying yen in Sydney. Positive news for the Japanese as well. Im short GJ, off to bed, VERY conservative stop loss and we'll see how this fix ends up.

I am NOT going to watch Tokyo today. Few pips is not worth my blood pressure. See you guys in London
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #3,782
  • Apr 23, 2007 7:06pm Apr 23, 2007 7:06pm
Quoting cesarnc
H&S forming in the Daily
Cesar,
Can you add some comment to this chart you post?
I don't have very much neckline education, yet.
  • #3,783
  • Apr 23, 2007 7:11pm Apr 23, 2007 7:11pm
Quoting bmwboyee
i am still buying that dip we just went through. maybe a bad thing. we will see. bought at .85, .90 and .95
i'm with you my friend ... but I will get rid of my longs whenever I will have a chance to close it in profit
  • #3,784
  • Apr 23, 2007 7:19pm Apr 23, 2007 7:19pm
Quoting trader8686
Cesar,
Can you add some comment to this chart you post?
I don't have very much neckline education, yet.
It's a Head and Shoulder formation... suggests a trend reversal. The neckline is the "point of no return" in theory. Once below it, goodbye blue skies.
  • #3,785
  • Apr 23, 2007 7:28pm Apr 23, 2007 7:28pm
i just got stopped out with my long few hours ago the best would be to stay aside like most of you say but couldnt do so went also short with tight sl
see you
  • #3,786
  • Apr 23, 2007 7:58pm Apr 23, 2007 7:58pm
20:52Tokyo fix coming up. So far JPY remains bid.

I think the fix is not in my favor
  • #3,787
  • Apr 23, 2007 8:00pm Apr 23, 2007 8:00pm
Quoting cesarnc
It's a Head and Shoulder formation... suggests a trend reversal. The neckline is the "point of no return" in theory. Once below it, goodbye blue skies.
Yah, but the neckline of this pair (USD/JPY) is still far far away.
  • #3,788
  • Apr 23, 2007 8:04pm Apr 23, 2007 8:04pm
from last two days i learned .... once your order goes in the profit LOCK IT WITH SL .... went short now ...
  • #3,789
  • Apr 23, 2007 8:09pm Apr 23, 2007 8:09pm
Quoting 4x_Trader
Absolutely my friend trade like a big boys and not with a crowd because majority decision is always wrong (only in FOREX )
No problem, go fot it mate!
Im still tanking on bearish reversal. Im keeping my technicals simple and fundamentals simple. 2.000 is just too expensive, for the economy to remain bullish or stop the british economy to overheat like US. Devaluation of currency is needed to re-fuel trade and gdp growth. US is a large trade partner and when they refuse to buy, you can never get a soft landing, esp with Britian being US closest ally. The Feds are doing a good job at controlling the heating US economy which i believe was induced with too much media hype, i believe the situation in US is not as bad as it really seems. Down trend in the dollar has been going on for 5 years, even at the backs of a good economy a few years back, further de-valuation? or a Springboard?
  • #3,790
  • Apr 23, 2007 8:10pm Apr 23, 2007 8:10pm
hi cable/yen target 235.50 or 234.00 have a nice deal 4u & bibi
  • #3,791
  • Apr 23, 2007 8:52pm Apr 23, 2007 8:52pm
Was short from 237.00 (I'm impatient), out again now.
  • #3,792
  • Apr 23, 2007 9:07pm Apr 23, 2007 9:07pm
Quoting forexenator
Do u trade monthly charts in UJ? and if so, backtestng ema20/ema100 cross is not so promising, at least in the last three or 4 crosses.
Nope, I don't have that much capital yet to trade monthly lol. Yea you're right it's not so promising, but at least they crossed for many months first before crossing back. If it happens again this time, at least we'll see UJ testing 122 again or even passing it in a near future.
Tra-X
  • #3,793
  • Apr 23, 2007 9:12pm Apr 23, 2007 9:12pm
its all so very clear...its GJ short atleast in the short term...all indicators on my charts are pointing down....
  • #3,794
  • Apr 23, 2007 9:20pm Apr 23, 2007 9:20pm
don't believe to your indicators .... in 3 hrs or in 20 pips everything can change from the top to bottom .... i already experienced it with indicators .... and I was using like 3 different system ... doesn't really help when this dragon decides to screw around with you
  • #3,795
  • Apr 23, 2007 9:24pm Apr 23, 2007 9:24pm
i will have to say i am getting hosed tonight. but i still have my trades open. were do we see this bouncing if at all? is this the sign of the true reversal?
  • #3,796
  • Apr 23, 2007 9:27pm Apr 23, 2007 9:27pm
Watch for GU to stall or turn around in the 1.9940/30s, gotta take out those stops around 1.9950. My opinion.

Quoting bmwboyee
i will have to say i am getting hosed tonight. but i still have my trades open. were do we see this bouncing if at all? is this the sign of the true reversal?
  • #3,797
  • Apr 23, 2007 9:28pm Apr 23, 2007 9:28pm
Quoting bmwboyee
i will have to say i am getting hosed tonight. but i still have my trades open. were do we see this bouncing if at all? is this the sign of the true reversal?
really I wouldn't excpect a bounce up .... it just goes down too crazy ..... I gave up in long so now i'm just trying to get my pips back ....
  • #3,798
  • Apr 23, 2007 9:33pm Apr 23, 2007 9:33pm
Then again, looks like the 20MA is holding as resistance on the daily chart.
  • #3,799
  • Apr 23, 2007 9:46pm Apr 23, 2007 9:46pm
Quoting bmwboyee
i will have to say i am getting hosed tonight. but i still have my trades open. were do we see this bouncing if at all? is this the sign of the true reversal?
Look at the charts....or ask someone who knows nuts abt charting

My fiancee know nuts abt trading...so when im lost i just show her a naked chart and asked her...up or down? Most of the time she gets it right.
  • #3,800
  • Apr 23, 2007 9:51pm Apr 23, 2007 9:51pm
Let's see whether an 'upbump' will occur soon, followed by a nearly double bottom.
Tra-X
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