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

  • #2,781
  • Feb 26, 2012 2:57am Feb 26, 2012 2:57am
Quoting Mpt
You're not talking to yourself. Appreciate your input.
Am heading out, but will post a couple of ideas after that.

ps My chart close at 128.922
My Oanda chart closes @ 128.89, the posted one is MT4 closing an hour earlier on Friday but I use it only for charting.
My broker is Oanda.
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  • #2,782
  • Feb 26, 2012 4:10am Feb 26, 2012 4:10am
Quoting KillerWhale
Looks like I'm only talking to myself here, but hey nothing wrong with that. It clears my mind.

If you look at the 4 hr chart then the whole drop from 126.81 to 125.44 was nothing more than an normal bull flag.
But the effects should be reached by now.

So I favor a retrace to 1.272x at the moment but would prefer 126.65 at he next low point. I need to have a conference call with Yazumi and Noda about that.
I saw this formation form fairly fast and was really happy to get in on it considering it was the pound/yen! I have not traded this pair for months and now its fast moves are calling me back
  • #2,783
  • Feb 26, 2012 4:35am Feb 26, 2012 4:35am
Quoting jdogg4000
I saw this formation form fairly fast and was really happy to get in on it considering it was the pound/yen! I have not traded this pair for months and now its fast moves are calling me back
Right the same here pal, haven't traded it in months but current PA is calling me back.
There are great pips just for grabs here.
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  • #2,784
  • Feb 26, 2012 4:39am Feb 26, 2012 4:39am
Quoting KillerWhale
Right the same here pal, haven't traded it in months but current PA is calling me back.
There are great pips just for grabs here.
I agree setting up the charts and going to keep it in my focus for now. It was actually my first bullish flag and seeing on the pound/yen made me even happier. Going to keep an eye to see if the speed keeps up!
  • #2,785
  • Feb 26, 2012 5:13am Feb 26, 2012 5:13am
Quoting jdogg4000
I agree setting up the charts and going to keep it in my focus for now. It was actually my first bullish flag and seeing on the pound/yen made me even happier. Going to keep an eye to see if the speed keeps up!
Go for it, I've made killers in GJ and I've left it for months because yen was just boring at that moment.
But hey, its back in play now and I'm very happy about that.

Still hesitating to take trades in UJ though.
Last trade I took in UJ was long @ 76.50, it went down from there to 76.15 and I was happy to close when it got to 76.65 for 15 pip gain.
Shit could I know it would be trading 81 now?

One thing is for sure, yen is heavily manipulated at the moment, but lets take profit of that as far as we can!

Fxck Noda and Yazimu because they fuck us at the same time if they can get away with it.
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  • #2,786
  • Feb 26, 2012 5:50am Feb 26, 2012 5:50am
Quoting KillerWhale
Go for it, I've made killers in GJ and I've left it for months because yen was just boring at that moment.
But hey, its back in play now and I'm very happy about that.

Still hesitating to take trades in UJ though.
Last trade I took in UJ was long @ 76.50, it went down from there to 76.15 and I was happy to close when it got to 76.65 for 15 pip gain.
Shit could I know it would be trading 81 now?

One thing is for sure, yen is heavily manipulated at the moment, but lets take profit of that as far as we can!

Fxck Noda and Yazimu because...
Hmmm...I will watch the UJ closely too
  • #2,787
  • Feb 26, 2012 10:24am Feb 26, 2012 10:24am
Quoting KillerWhale
Go for it, I've made killers in GJ and I've left it for months because yen was just boring at that moment.
But hey, its back in play now and I'm very happy about that.

Still hesitating to take trades in UJ though.
Last trade I took in UJ was long @ 76.50, it went down from there to 76.15 and I was happy to close when it got to 76.65 for 15 pip gain.
Shit could I know it would be trading 81 now?

One thing is for sure, yen is heavily manipulated at the moment, but lets take profit of that as far as we can!

Fxck Noda and Yazimu because...
long till 131.000
Attached Image (click to enlarge)
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Daytrader
  • #2,788
  • Feb 26, 2012 2:14pm Feb 26, 2012 2:14pm
Quoting mahimahi
long till 131.000
I hope you are right pal, then extremely heavy short from there, and I mean $50 per pip if I'm there at the right time.

No doubt though I won't be there at that right time. Shit I can't spend 24/7 on this screen. I wish I could but ......................
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  • #2,789
  • Feb 26, 2012 2:17pm Feb 26, 2012 2:17pm
Quoting KillerWhale
I hope you are right pal, then extremely heavy short from there, and I mean $50 per pip if I'm there at the right time.

No doubt though I won't be there at that right time. Shit I can't spend 24/7 on this screen. I wish I could but ......................
1.31 could be the way to prosperity !!!!!!!!!!!!!!!
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  • #2,790
  • Feb 26, 2012 2:33pm Feb 26, 2012 2:33pm
My spread is down to 12 now, still way too high.

So: waiting !!
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  • #2,791
  • Feb 26, 2012 2:48pm Feb 26, 2012 2:48pm
Quoting mahimahi
long till 131.000
just to let you know GBP is fundamentally a sell, they probably will lower rates soon.
  • #2,792
  • Feb 26, 2012 3:03pm Feb 26, 2012 3:03pm
Quoting sidhujag
just to let you know GBP is fundamentally a sell, they probably will lower rates soon.
That would be real funny
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  • #2,793
  • Feb 26, 2012 3:15pm Feb 26, 2012 3:15pm
Quoting KillerWhale
That would be real funny
inflation is a concern because of qe but jpy is junk too so might be buy still i prefer aj or nj
  • #2,794
  • Feb 26, 2012 4:42pm Feb 26, 2012 4:42pm
Has anyone noticed that this major weekly trendline is being broken. If this week's candle closes about 129.50, I think we're in for some serious bull run. Just buy GJ and hold with tp at 140 or come back in a few months.
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  • #2,795
  • Feb 26, 2012 6:00pm Feb 26, 2012 6:00pm
Quoting $teve
Has anyone noticed that this major weekly trendline is being broken. If this week's candle closes about 129.50, I think we're in for some serious bull run. Just buy GJ and hold with tp at 140 or come back in a few months.
Ever heard of pull-backs? Your trendline has to be tested and rejected first before you can make such a statement.

You state in your profile that you never take advice blindly.
If so, please then don't give it blindly too.
Thanks.
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  • #2,796
  • Feb 26, 2012 6:08pm Feb 26, 2012 6:08pm
Quoting $teve
Has anyone noticed that this major weekly trendline is being broken. If this week's candle closes about 129.50, I think we're in for some serious bull run. Just buy GJ and hold with tp at 140 or come back in a few months.
I have several sell orders on this and it is falling already.Highly inflated.I believe this is partly due 7pm ET only Jap/Aus markets are open and Japs love damping JPY
I suspect once London opens price will come down even more. I expect around 127 next 12hrs
In trading, you have to be defensive and aggressive at the same time
  • #2,797
  • Feb 26, 2012 6:10pm Feb 26, 2012 6:10pm
Quoting $teve
Has anyone noticed that this major weekly trendline is being broken. If this week's candle closes about 129.50, I think we're in for some serious bull run. Just buy GJ and hold with tp at 140 or come back in a few months.
already at 129.11 and falling
made 400 bought at 129.49. This is a huge buble ready to get busted
In trading, you have to be defensive and aggressive at the same time
  • #2,798
  • Feb 26, 2012 6:37pm Feb 26, 2012 6:37pm
IF it's going to remain bullish, this is my take on GJ. It's now approaching the 131 area, being the weekly 100 and the 61.8 of the prior downmove. With all TFs being stretched, there's not much doubt (in my mind) that GJ will see a retracement starting there.

If it continues up following that retracement, the daily 800ema is sitting at 136 right now.

A retracement to the 125 area initially, following by the next retracement shown on the chart as wave (2) may, indeed, end up being effectively a first then second test of the famous trendline.



Attached Image (click to enlarge)
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  • #2,799
  • Feb 26, 2012 10:56pm Feb 26, 2012 10:56pm
So far so good, sl @ 1.29
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  • #2,800
  • Feb 26, 2012 11:26pm Feb 26, 2012 11:26pm
Quoting KillerWhale
So far so good, sl @ 1.29
I with you
Fill 129.33 sl 129.16
Fill 129.06 sl 128.96
Fill 128.86 sl 128.91

risk 5 pips waiting Brits to reassess
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