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

  • #2,821
  • Mar 1, 2012 5:18am Mar 1, 2012 5:18am
GJ might go 130.8 area (next Resistance)

Cheers !
Trading Forever !!!
  • #2,822
  • Mar 1, 2012 5:26am Mar 1, 2012 5:26am
If nothing else, it's great to see this thread coming back from the dead. Now, if only guicci would return ...
  • #2,823
  • Edited 2:16pm Mar 1, 2012 7:58am | Edited 2:16pm
Quoting Nachiket
its failing to cross 129.40. I have sold @129.25. Have I sold at a good price?

i am not an expert in this pair. rest of the pairs I understand, not this one to be frank.
It works exactly the same as all other pairs, only a bit more volatile which makes it dangerous for brginners.
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  • #2,824
  • Mar 1, 2012 11:17am Mar 1, 2012 11:17am
http://s18.postimage.org/5vuj5sq9z/targetgj.png
  • #2,825
  • Mar 1, 2012 3:13pm Mar 1, 2012 3:13pm
It looks like a triple top. Correction to 128 may be done soon.
Attached Image (click to enlarge)
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  • #2,826
  • Mar 1, 2012 9:23pm Mar 1, 2012 9:23pm
An illustration of where I anticipate GJ might be heading in the short to medium term.

Red lines are trendlines (obviously)
Blue lines show a channel that it's been in place since between 140 and 117.
Green channel is its current rising channel.
Purple line may be bottom of the major rising channel.

Break above blue channel at 131.2~3 (and thereby negating that channel at long last) would see it run head-long into TL and green channel resistance at 131.5 ~132. Then down for wave 4.

Significant break above 132 would change things again.

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  • #2,827
  • Mar 1, 2012 10:47pm Mar 1, 2012 10:47pm
I wonder if yen is still fair play or maybe Japan is continuing intervening every day a bit.
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  • #2,828
  • Mar 1, 2012 11:02pm Mar 1, 2012 11:02pm
Quoting KillerWhale
I wonder if yen is still fair play or maybe Japan is continuing intervening every day a bit.
I think it was the stealth intervention at first. Maybe it continues (until the credit card goes bang), but from what I've read lots of other major players have been jumping on as well recently.
  • #2,829
  • Mar 2, 2012 7:52am Mar 2, 2012 7:52am
Imho, there´s a potential pinbar + fakey scenario forming in geppy, what do you guys think? Of course, we have to wait till proper close to confirm this, but as Friday develops, I think this might be very playable...

Looking for reading some comments.
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  • #2,830
  • Mar 2, 2012 2:48pm Mar 2, 2012 2:48pm
We'll see, next week
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  • #2,831
  • Mar 3, 2012 6:05pm Mar 3, 2012 6:05pm
Quoting FXMastermind
Imho, there´s a potential pinbar + fakey scenario forming in geppy, what do you guys think? Of course, we have to wait till proper close to confirm this, but as Friday develops, I think this might be very playable...

Looking for reading some comments.
Good short setup, IMHO. However, ma is angling up. So the target should be the daily ma. I would look for immediate support around that area and look for bullish setup, but that's just me. Nice chart.
  • #2,832
  • Mar 4, 2012 9:00pm Mar 4, 2012 9:00pm
This week outlook my opinion.

http://desmond.imageshack.us/Himg10/...png&res=medium
  • #2,833
  • Mar 5, 2012 12:06am Mar 5, 2012 12:06am
After making my demo 4x I got sick of it and decided to go life

All the physiological fears didn't materialize perhaps because I gambled sports for 5yrs so losing or risking money does not scare me.

I am happy to report to FF that my 1st day trading live is killing it
Sold GBP/JPY
At 129.194
again at
129.071
again at
128.885

I had 3 glasses of Irish whiskey and I am partying.I have not closed any positions yet.Why close its getting bigger and bigger by the minute
Happy profitable trading from Davit!

PS I don't use indicators nor I believe in them.My charts are bare naked! I do follow economic news pertaining currency pair I am interested.
In case if you are not aware GBP is directly correlated to EUR and same with Swiss
When Euro tanks expect GBP and Swiss to tank as well.
These kinds of relationship is more valuable then historical indicator data.
Cheers Make MONEY!
In trading, you have to be defensive and aggressive at the same time
  • #2,834
  • Mar 5, 2012 12:58am Mar 5, 2012 12:58am
Quoting Davit
After making my demo 4x I got sick of it and decided to go life

All the physiological fears didn't materialize perhaps because I gambled sports for 5yrs so losing or risking money does not scare me.

I am happy to report to FF that my 1st day trading live is killing it
Sold GBP/JPY
At 129.194
again at
129.071
again at
128.885

I had 3 glasses of Irish whiskey and I am partying.I have not closed any positions yet.Why close its getting bigger and bigger by the minute
Happy profitable trading from Davit!

PS I don't use indicators...

You might want to at least consider setting your stop losses to break even on those trades
  • #2,835
  • Mar 5, 2012 1:03am Mar 5, 2012 1:03am
I love to trade in EURUSD . The Indicator i use are Pivot points , RSI and stochastic . I also sometime use MACD.

For now I think EURUSD is in Downtrend , it will touch the support 1.3170 and from now it can go upward.

there is chance to gain 40 pips quick at this stage.
  • #2,836
  • Mar 5, 2012 1:25am Mar 5, 2012 1:25am
Quoting Mpt
You might want to at least consider setting your stop losses to break even on those trades
Why think even when I am up 70+pips
I am watching it now.Added more on the position.I hate SL because one tiny spike can cost you $$$$ only to rebound within seconds
In trading, you have to be defensive and aggressive at the same time
  • #2,837
  • Mar 5, 2012 1:26am Mar 5, 2012 1:26am
Quoting Davit
Why think even when I am up 70+pips
I am watching it now.Added more on the position.I hate SL because one tiny spike can cost you $$$$ only to rebound within seconds

Fair enough
  • #2,838
  • Edited 2:02am Mar 5, 2012 1:32am | Edited 2:02am
Quoting Mpt
You might want to at least consider setting your stop losses to break even on those trades
watch EUR it is tanking now
You may want to buy it up
USD/EUR once it hits 1.3150's or 60's

Kudos positiveness to you
Just an exercise place EUR/USD next to GBP/jpy
You'll find amazing similarities.Question is how can one make $$$$
Answer is obvious
Everytime EUR makes a come back so does GBP
Watch both next to each other....
up 150+ pips still going strong
In trading, you have to be defensive and aggressive at the same time
  • #2,839
  • Mar 5, 2012 2:22am Mar 5, 2012 2:22am
GBP / USD — Long-term forecast
Long - from 1,3502 to 2,100

GBP / USD — Medium-term forecast
Short - from 1,6744 to 1,4200
correction at 1.5000

GBP / USD — Short-term forecast
Long - input 1,5700 output 1,6050
  • #2,840
  • Mar 6, 2012 5:35am Mar 6, 2012 5:35am
So far, rejection from the TL 163 ~140 ~127.4. At this stage it hold significance.
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