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Daily GBP/JPY analysis

  • #15,101
  • Sep 14, 2009 11:06pm Sep 14, 2009 11:06pm
At this moment, I'm looking forward market to perform another bearish continuation trend scenario refering towards the subwave count in aqua. Otherwise, please be careful for any breakout to the upper green trendline and the white/yellow critical line that would indicate that the scenario is already invalid. Good luck.
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  • #15,102
  • Sep 14, 2009 11:56pm Sep 14, 2009 11:56pm
Daily TF, price touch ascending trendline and confluence with pin bar there.

I have long position at 150.93
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  • #15,103
  • Sep 15, 2009 7:18am Sep 15, 2009 7:18am
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  • #15,104
  • Sep 15, 2009 8:51am Sep 15, 2009 8:51am
really long inverted hammer in EUR/JPY 30min - target 130,00-15 - sell from 133,40

and buy EUR/USD - target 1,4710-17
Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
  • #15,105
  • Sep 15, 2009 9:58am Sep 15, 2009 9:58am
support and resistance for gbpjpy, use for SL, Tp.
cci12
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  • #15,106
  • Sep 15, 2009 2:10pm Sep 15, 2009 2:10pm
the Queen rules
  • #15,107
  • Sep 15, 2009 11:37pm Sep 15, 2009 11:37pm
At this moment, I believed market will perform another bearish continuation trend either refering to the alt counts in yellow or aqua. A breakout towards the bearish continuation critical line 2 would bolster to this scenario. Otherwise, please be careful for any breakout to the R3 critical line that would indicate that perhaps market in progress to perform a bullish retracement trend refering to the alt count in magenta. Good luck.
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  • #15,108
  • Sep 16, 2009 10:56pm Sep 16, 2009 10:56pm
My opinion clearly differs from that of the last poster. In my opinion GBP/JPY has done its monthly low and we should be heading for 160 region within the next 22 trading days. Traders are advised to maintain a long bias all through the next 22 days. For this week, GBP/JPY should continue northwards having touched all of the supports (from S1 to S3) this week. I expect to see some good resistance at 151.6x region today after which traders can sell and look for another opportunity to go long again. Happy trading!
  • #15,109
  • Sep 16, 2009 11:42pm Sep 16, 2009 11:42pm
At this moment, please be careful for any strong bullish retracement trend either to perform wave 2 in magenta or yellow. A true breakout towards the S3 and the bearish continuation critical line 3 would bolster towards the subwave count in aqua. "Saya juga ingin ambil kesempatan ini untuk mengucapkan Selamat Menyambut Hari Raya Aidilfitri dan maaf zahir batin sekiranya selama ini ada menyinggung atau terkasar bahasa".
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  • #15,110
  • Sep 17, 2009 8:53am Sep 17, 2009 8:53am
Hi Yen traders. I am following the bullish trend of the GBPJPY right now. I had bullish reading in the London open. A few hours ago, before the NY open, all my indicators went divergent while the GBPJPY gyrated above and below the 150 level. Any veterans know what happened? Is this unusual for the pair?
  • #15,111
  • Sep 17, 2009 11:14pm Sep 17, 2009 11:14pm
yep, it's a wild ride on this, the most volatile of all pairs
  • #15,112
  • Sep 18, 2009 7:27am Sep 18, 2009 7:27am
Hi all, i suggest taking a buy position at 149.00 and holding the long till 151.00
Happy trading!
  • #15,113
  • Sep 19, 2009 10:12am Sep 19, 2009 10:12am
I think gbp/jpy will pull up next week after consecutive days down
Vedanta - The End Of Knowledge. ~ J. Krishnamurti ~
  • #15,114
  • Sep 21, 2009 11:04am Sep 21, 2009 11:04am
Quoting rossiya
Hi Yen traders. I am following the bullish trend of the GBPJPY right now. I had bullish reading in the London open. A few hours ago, before the NY open, all my indicators went divergent while the GBPJPY gyrated above and below the 150 level. Any veterans know what happened? Is this unusual for the pair?
What bullish trend? Are you looking at a lower time frame? The only bullish trend was on the daily until approximately 2 months ago when the trend line was broken.
Gone to a better place
  • #15,115
  • Sep 21, 2009 8:58pm Sep 21, 2009 8:58pm
quickly, man find a place to get short on this pair
  • #15,116
  • Sep 22, 2009 1:00am Sep 22, 2009 1:00am
Quoting rossiya
A few hours ago, before the NY open, all my indicators went divergent while the GBPJPY gyrated above and below the 150 level. Any veterans know what happened? Is this unusual for the pair?
Sorry if I was a bit curt there. Now that I have read your post properly I realise that you were looking at trading long on the hourly.

I don't know what indicators you are using but I have been burned to the nth degree trading off oscillators on the lower time frames on this pair. I have been so right looking at oscillators it hurts to think about it. The market proved me wrong just long enough hang me out to dry and then say "there, you were right all along!".
Gone to a better place
  • #15,117
  • Sep 22, 2009 3:40am Sep 22, 2009 3:40am
Quoting smikester
Sorry if I was a bit curt there. Now that I have read your post properly I realise that you were looking at trading long on the hourly.

I don't know what indicators you are using but I have been burned to the nth degree trading off oscillators on the lower time frames on this pair. I have been so right looking at oscillators it hurts to think about it. The market proved me wrong just long enough hang me out to dry and then say "there, you were right all along!".
Yes I was going daily timeframe on EURUSD trading 15 minute, which held an ideal pattern since it's birth from the DM years ago until October. $80 into $800 in a week no problem. Then it crumbled. I couldn't feed a goldfish. It's funny I can hold my own on the GPBJPY, but not make any profit so far. With 200 pip drawdowns in mere seconds, it feels more like the "Andrea Gail" in The Perfect Storm.

So far I'm following along, but place a limit order about 100 pips the other way. I can't say I'm using strict oscillators or momentum indicators. I wrote some of my own and thus have no idea about their trendworthiness. To me everything is a cycle, and a trend is just a big cycle. Dominant cycle is another question entirely. I got into markets because the dominant cycle stuck out like the Washington Monument. As soon as I entered, however, the markets evolved several cycles none dominant. So for me it's uncharted waters and strictly Lewis&Clark for the moment.
  • #15,118
  • Sep 22, 2009 8:01am Sep 22, 2009 8:01am
I can only say this: I have had the most success trading this pair off break outs from trend lines/channels and moving averages. Sometimes an inside bar. Each trade I stick to one time frame, usually H4. I only trade in the direction of the daily trend, usually off H4 trend line or ma breaks. I trade small lots with a high R:R ratio and a stop loss which reflects the current ATR which can vary a lot. Additionally I sometimes look at various oscillators and I'm pleased if I see divergence to confirm my trade, but I don't trade it per se - oh and the DOW. Then I go to the park and drink a bottle of Pernod.
Gone to a better place
  • #15,119
  • Sep 22, 2009 8:16am Sep 22, 2009 8:16am
Quoting smikester
I can only say this: I have had the most success trading this pair off break outs from trend lines/channels and moving averages. Sometimes an inside bar. Each trade I stick to one time frame, usually H4. I only trade in the direction of the daily trend, usually off H4 trend line or ma breaks. I trade small lots with a high R:R ratio and a stop loss which reflects the current ATR which can vary a lot. Additionally I sometimes look at various oscillators and I'm pleased if I see divergence to confirm my trade, but I don't trade it per se - oh and...
exactly the pair sticks to the trend and it isn't as loony as they claim..
if you do the correct technical analysis than your on your way to stackin pips, also the oscillators show the right thing if your on a long period trade like daily weekly, but in the hourly charts it may fool you. The H4 trading has been positive for my trade account too, I've been trading the pair for two weeks and yet one of my trades hasn't fail me. With the right tech analysis and the correct economic data observations you can achieve success. (My average pip earn is like 40-30 in the H4 chart)
  • #15,120
  • Sep 22, 2009 12:21pm Sep 22, 2009 12:21pm
very good reading,men i like the input
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