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GBP/JPY, GBP/USD, and EUR/USD (technical analysis)

  • #2,421
  • Jun 30, 2011 4:41am Jun 30, 2011 4:41am
Quoting ghuisthefirs
everybody should buy at this low point. This is the bottom for a few months. After a few months we are going to crash again but for now buy with full leverage
hi! sorry, talking about .. which pair?
  • #2,422
  • Jun 30, 2011 4:43am Jun 30, 2011 4:43am
sorry, talking about gbp/jpy
  • #2,423
  • Jun 30, 2011 4:45am Jun 30, 2011 4:45am
Quoting ghuisthefirs
sorry, talking about gbp/jpy
oh! thanks! I was thinking for a second you were about the EURUSD.. I was kind of surprised!!
  • #2,424
  • Jun 30, 2011 4:48am Jun 30, 2011 4:48am
i think buy is a really good move right now. For the next 2 or 3 months 138 is a target. After it hit that we are going for a new all time low.
  • #2,425
  • Edited 6:51am Jun 30, 2011 4:53am | Edited 6:51am
Quoting cohiba pips
your trigger what you saying now thats your sl or what

i see minor fail my apologies
hi--

yes 14524 was only an untest ress (minor) - its only a scalping trade -normally it spike upto that level then closed way below- so SL can set @ BE

we already drop 50 pips and high was 14522 and not 24 - you should used 5 pips below for an entry-

i missed it - did not used 5 pips below for an entry mine was set at 14524

minor supp sit now @ 1.4440 and untest just below it @ 1.4397 (1hr and 1.4383- 30 min chart )
  • #2,426
  • Jun 30, 2011 5:01am Jun 30, 2011 5:01am
next major supp on GJ is 127.40 where we should bounce -

shyyt--perfect selling level was 130.00 -yesterday

hope some get some of this drop-

im flat

im watching 127.40
  • #2,427
  • Edited 5:16am Jun 30, 2011 5:04am | Edited 5:16am
Quoting ghuisthefirs
i think buy is a really good move right now. For the next 2 or 3 months 138 is a target. After it hit that we are going for a new all time low.

Just a little caution. We've hit the classic wave b retrace of 88.6 and divergence is coming in at very low timeframes. Can always go for double bottom or below. BUY from you? ... i thought you were always bearish
  • #2,428
  • Jun 30, 2011 5:07am Jun 30, 2011 5:07am
Quoting Geppy
I see it too... I just don't think technicals are aligning with reality. Again, I'm not a huge fundi guy, and I know you aren't either, but times like these are when we really need to consider fundamentals. E/U has a tendency to push trends, with little to no retracement, further than the technicals would ever suggest.

Summary: I'm not shorting in the face of this current trend. I'll wait for some sort of confirmation (either direction).

yes geppy- shorting euro is tough one- our key supp is surely @ 1.4000 (OBV)

so keep watch it,we can range between 1.48 and 1.42 for couple more weeks/months before we finally go a direction -

i tihnk up to 1.5 and 1.5 plus- dont know

thats the big picture-

i am playing intraday for now - if we can get as low as 1.4300 ( preferably 1.4284-untest) then i will look for buys again

or sell again somewhere at a level
  • #2,429
  • Jun 30, 2011 5:28am Jun 30, 2011 5:28am
Quoting bogus
I don't understand your chart.15424? Please explain, are those numbers correct? Also I don't see the reason you have drawn the line there.
Cheers, Bogus

lol ye--srry it was a typo 15424 instead of 14524 - but the lines was shown at the right place -

14524 was on a minor untest level - the bigger ones is higher @ 14560 and 1.4606 - those 2 are huge ones -

here is the right chart

the TL's are on the right place ? what dont you understand ?
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  • #2,430
  • Jun 30, 2011 6:22am Jun 30, 2011 6:22am
GJ is very far from bullish- we need to break both these channels to say " WE ARE BULLISH"

until then choppy sideways down moves to 125/126 -

i zoom into that huge drop to get a untest supp and its 125.76 - did post it before - and that level might be inline with both those 2 channels- so i am watching it

125.76 is not just picking a random number at the cross of those TL - i found it and then draw those Tl's
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  • #2,431
  • Jun 30, 2011 6:44am Jun 30, 2011 6:44am
intraday e/u - if bullish,then 1.4440/45 is supp & TL - if we break -->1.43xx
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  • #2,432
  • Jun 30, 2011 8:27am Jun 30, 2011 8:27am
I just took a long position in G/U this morning at 1.6010

I don't have time to include a chart, but I think there is a medium term bottom in place. If nothing else, we've been ranging since February and I'm looking for 1.6350 as a target if I can get it. Obviously, I'll cut it loose if I think it's going to take a long time to get there. I don't have time to babysit positions these days so I usually set a target, feel things out as they develop and cut trades loose when it feels appropriate.
check out my blog: forexmademillionaire dot com
  • #2,433
  • Jun 30, 2011 9:44am Jun 30, 2011 9:44am
End of the month rally. Maybe this is the move that will reverse the trend and begin a new uptrend towards 140. Still a bit early to tell but I think as soon as 130 is broken, we may see at least 134 the 50% retracement.
  • #2,434
  • Jun 30, 2011 9:57am Jun 30, 2011 9:57am
already 100% in profit, read my previous post . just trading according to plan
  • #2,435
  • Jun 30, 2011 11:25am Jun 30, 2011 11:25am
Quoting Geppy
I see it too... I just don't think technicals are aligning with reality. Again, I'm not a huge fundi guy, and I know you aren't either, but times like these are when we really need to consider fundamentals. E/U has a tendency to push trends, with little to no retracement, further than the technicals would ever suggest.

Summary: I'm not shorting in the face of this current trend. I'll wait for some sort of confirmation (either direction).
Agree! :nerd:

trading is not only ability to draw a Trend Lines..
  • #2,436
  • Jun 30, 2011 12:32pm Jun 30, 2011 12:32pm
weekly close now important on geppy.... below 130.00 important for bears, below 129.32 even more pressure to the downside.

overall trend bearish for me, aiming for 126.00 area again (peachpuff box on the h4).

132 area interesting to the upside,between some space for some lovely moves...

how about a monthly close below ~125.30 or above ~ 137.80 this year? ^^ would make this whole setup a way easier and clearer to trade imho....dont like geppy action last weeks...


lets c Jonas


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Hero calls followed by margin calls...
  • #2,437
  • Jun 30, 2011 2:05pm Jun 30, 2011 2:05pm
I'm flat for the time being. No shorts apart from scalps until 1.4445 is taken out.
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FF journal: Peaks and Troffs
  • #2,438
  • Jun 30, 2011 3:48pm Jun 30, 2011 3:48pm
for anyone who followed my trading plan. My account has doubled twice in the last 6 hours. look back at my previous posts for the trading plan
  • #2,439
  • Jun 30, 2011 6:25pm Jun 30, 2011 6:25pm
Quoting ghuisthefirs
for anyone who followed my trading plan. My account has doubled twice in the last 6 hours. look back at my previous posts for the trading plan
double in 6hrs...?
hope you are using proper mm...

btw, congrats, but don't ever post about your account info again. thanks.
  • #2,440
  • Jun 30, 2011 8:34pm Jun 30, 2011 8:34pm
So, I decided to scrap my GBP/USD long after the failure to sustain a break above 1.6100 Things just aren't feeling right.

Take a look at the following GBP/JPY chart. It seems ripe for a short. I think I would look for a run down to 128.00 initially (or thereabouts) and then look for a potential pullback before further drop.

Thoughts, ideas, suggestions?
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check out my blog: forexmademillionaire dot com
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