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GBP/JPY

  • #21
  • Aug 6, 2012 6:32am Aug 6, 2012 6:32am
And somewone said it is going to be a quiet range day, lol It looks like some support is forming...
  • #22
  • Aug 6, 2012 12:42pm Aug 6, 2012 12:42pm
Looking at 4H chart that would be 8H Bullish pin bar...if price breaks that and the trendline which is very close the pair migh fly...
  • #23
  • Aug 7, 2012 2:28am Aug 7, 2012 2:28am
Price was compresing in a triangle, making lower higs and higher lows (clearly seen on 1H), now price broke up, it might fly, who knows
  • #24
  • Aug 7, 2012 2:53am Aug 7, 2012 2:53am
Great to see this thread. I do like GBPJPY pair as well.
  • #25
  • Aug 7, 2012 4:38am Aug 7, 2012 4:38am
Price closed above 1h gann, 50ema, and 4h 50ema, they are good bullish signs..

http://img546.imageshack.us/img546/8039/38325151.gif
Trade what you see, not what you think.
  • #26
  • Aug 7, 2012 1:02pm Aug 7, 2012 1:02pm
4h QQE crossed upwards and we have a 4h candle close above gann hilo, price is above WP and MP, and price is flirting with a TL and just above it is the daily 50ema, if price can pass (I expect it to pass) those 2 hurdles then GJ should head to the 50%/61.8% fibo levels I spoke of earlier

http://img834.imageshack.us/img834/667/95650636.gif
Trade what you see, not what you think.
  • #27
  • Aug 7, 2012 1:17pm Aug 7, 2012 1:17pm
I agree, some test of 123 round number can be expected, but othervise I think bull is a way to go.
  • #28
  • Aug 7, 2012 4:36pm Aug 7, 2012 4:36pm
Retrace complete (I hope )...
Attached Image (click to enlarge)
Click to Enlarge Name: 2012_0009.gif Size: 17 KB
  • #29
  • Aug 8, 2012 1:52am Aug 8, 2012 1:52am
Test of a previous trendline...I didn't think it is going to fell that much... I guess the only thing left for London open is long. If trendline won't hold, but probably will, this will go down...Bullish mode until then.
  • #30
  • Aug 8, 2012 2:44am Aug 8, 2012 2:44am
karmostaji
  • #31
  • Aug 8, 2012 3:04am Aug 8, 2012 3:04am
Quoting IndigoPingvi
Test of a previous trendline...I didn't think it is going to fell that much... I guess the only thing left for London open is long. If trendline won't hold, but probably will, this will go down...Bullish mode until then.
GJ is having a mind of it's own, we might be stuck between these 2 TL's for a while until a breakout..

http://img17.imageshack.us/img17/3552/29635826.gif
Trade what you see, not what you think.
  • #32
  • Aug 8, 2012 3:11am Aug 8, 2012 3:11am
As far as I know the pair usually doesn't stay very long in a 100 pip chanell, I would give it 3 days at most... but then again, I am still learning...
  • #33
  • Aug 8, 2012 5:07am Aug 8, 2012 5:07am
Quoting IndigoPingvi
As far as I know the pair usually doesn't stay very long in a 100 pip chanell, I would give it 3 days at most... but then again, I am still learning...
Maybe less..

http://img196.imageshack.us/img196/9606/84942168.gif
Trade what you see, not what you think.
  • #34
  • Aug 8, 2012 5:18am Aug 8, 2012 5:18am
... so it looks like it was a Bear trap...price up on BoE... almost peed my pants
  • #35
  • Aug 8, 2012 12:51pm Aug 8, 2012 12:51pm
Quoting IndigoPingvi
... so it looks like it was a Bear trap...price up on BoE... almost peed my pants
Price got back above 4h gann and 4h 50ema which is good for the bulls, but that TL is in the way again, if GJ can break the 123.20 area then we shall see 124.50-125 otherwise back to wild ranging

http://img715.imageshack.us/img715/3624/15733556.gif
Trade what you see, not what you think.
  • #36
  • Aug 8, 2012 1:20pm Aug 8, 2012 1:20pm
Yap! I don't like the current situation on the chart, but it is still 3 hours until market closes, so we'll see... What does worry me is tomorrow's calendar:

Tentative JPY Monetary Policy Statement
Tentative JPY Overnight Call Rate
Tentative JPY BOJ Press Conference

Anything can happen...
  • #37
  • Aug 9, 2012 12:47am Aug 9, 2012 12:47am
For now Bullish momentum looks steady
  • #38
  • Aug 9, 2012 12:55am Aug 9, 2012 12:55am
Quoting IndigoPingvi
For now Bullish momentum looks steady
Yeah, just gotta clear that annoying 123.20 area!

http://img215.imageshack.us/img215/8254/99110023.gif
Trade what you see, not what you think.
  • #39
  • Aug 9, 2012 7:58am Aug 9, 2012 7:58am
Price making higher lows is another bullish sign...we'll see...
  • #40
  • Aug 9, 2012 8:59am Aug 9, 2012 8:59am
Quoting IndigoPingvi
Price making higher lows is another bullish sign...we'll see...
Yep, and it's getting squeezed between those TL's, let's see a nice big breakout now.. I'm getting bored watching it bounce up n down

http://img36.imageshack.us/img36/1606/42699481.gif
Trade what you see, not what you think.
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