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GBP/JPY

  • #201
  • Aug 22, 2012 5:23am Aug 22, 2012 5:23am
looks like a slow night...could be opportunity for NY to make good move. G/Y neutral for now. Still upward momentum not to be dismissed. Yesterday and today high exactly same, watch out.
  • #202
  • Aug 22, 2012 7:47am Aug 22, 2012 7:47am
  •  Relaxx
  • | Joined Aug 2012 | Status: Cut the crap, trade live&make money | 35 Posts
Double top formation on GJ. The price stalled just before 125.50, faced overwhelming offers just before the round level. With FOMC meeting minutes ahead, it would not be strange to hit the high of the day. I guess there is an abundance of liquidity above the high right now. Maybe I 'll change my SL location. Let's see how things unfold.
If 125.50 is hit pending will be canceled.
********
Attached Image (click to enlarge)
Click to Enlarge Name: A3.png Size: 24 KB
Try to make the world around you a better place.
  • #203
  • Aug 22, 2012 7:59am Aug 22, 2012 7:59am
Yes, pretty clear picture.
  • #204
  • Edited 11:49am Aug 22, 2012 11:38am | Edited 11:49am
  •  Relaxx
  • | Joined Aug 2012 | Status: Cut the crap, trade live&make money | 35 Posts
Quoting Relaxx
Double top formation on GJ. The price stalled just before 125.50, faced overwhelming offers just before the round level. With FOMC meeting minutes ahead, it would not be strange to hit the high of the day. I guess there is an abundance of liquidity above the high right now. Maybe I 'll change my SL location. Let's see how things unfold.
If 125.50 is hit pending will be canceled.
********
Take profit hit.
********
I have to add that my scam broker executed my order 17 pips lower. As you can see in the pic.
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Click to Enlarge Name: A4.png Size: 19 KB
Try to make the world around you a better place.
  • #205
  • Aug 22, 2012 12:14pm Aug 22, 2012 12:14pm
Quoting Relaxx
Take profit hit.
********
I have to add that my scam broker executed my order 17 pips lower. As you can see in the pic.
Nice trade there buddy
Trade what you see, not what you think.
  • #206
  • Edited 8:19pm Aug 22, 2012 7:50pm | Edited 8:19pm
In my opinion, to remain bullish, this pair has to break and hold above the RED trendline ( and the weekly 50 ema ). Failure to break up may result in this sort of pattern.

Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 75 KB
  • #207
  • Aug 22, 2012 11:49pm Aug 22, 2012 11:49pm
The Fed scared us a lil bit yesterday, that's why we have to always use stops because GJ can turn against you any second.

Price bounced off 4h 50ema and it's still above daily gann hilo, but we have the 124.90 resistance and the weekly 50ema (resistance level) at 125.50 but I'll be looking for buy opportunities unless breaks below 4h 50ema

http://img824.imageshack.us/img824/9454/37549102.gif
Trade what you see, not what you think.
  • #208
  • Aug 23, 2012 3:46am Aug 23, 2012 3:46am
- G/J M15
Attached Image (click to enlarge)
Click to Enlarge Name: gj m15.gif Size: 18 KB
  • #209
  • Aug 23, 2012 4:47am Aug 23, 2012 4:47am
Quoting Ziko9o8
- G/J M15
What is your chart telling us?
Trade what you see, not what you think.
  • #210
  • Aug 23, 2012 4:54am Aug 23, 2012 4:54am
Quoting karmostaji
What is your chart telling us?
- Sell the high.
Attached Image (click to enlarge)
Click to Enlarge Name: 1 gj m15.gif Size: 20 KB
  • #211
  • Aug 23, 2012 4:56am Aug 23, 2012 4:56am
Quoting Ziko9o8
- Sell the high.
That's a nice double top there, good job & good luck
Trade what you see, not what you think.
  • #212
  • Aug 23, 2012 5:59am Aug 23, 2012 5:59am
Break above 125.5 would signal long run up. Below 124.5 long drop. now we wait and see.
  • #213
  • Aug 23, 2012 6:15am Aug 23, 2012 6:15am
Triple Bottom against Double Top ...maybe...
Attached Image (click to enlarge)
Click to Enlarge Name: 2012_0022.gif Size: 13 KB
  • #214
  • Aug 23, 2012 6:20am Aug 23, 2012 6:20am
Quoting IndigoPingvi
Triple Bottom against Double Top ...maybe...
Double top rules imho...

Olu
If you think you can or cannot do it you are correct
  • #215
  • Aug 23, 2012 6:27am Aug 23, 2012 6:27am
Quoting IndigoPingvi
Triple Bottom against Double Top ...maybe...
- Let me ask you this, does all G/J traders in the whole world open there M15 time frame and said to themselves "hi, G/J has double top on M15 chart let's all sell from here and all of us is going to make money!!!".

- What do u think of those words?
  • #216
  • Aug 23, 2012 6:38am Aug 23, 2012 6:38am
Quoting Ziko9o8
- Let me ask you this, does all G/J traders in the whole world open there M15 time frame and said to themselves "hi, G/J has double top on M15 chart let's all sell from here and all of us is going to make money!!!".

- What do u think of those words?
Of course not, why would they? I just made an observation on the pair in a funny way. I am known however as a guy with the strange humor.
  • #217
  • Aug 23, 2012 6:43am Aug 23, 2012 6:43am
I thought it was funny. actually it's more like 6 top, 6 bottoms


Quoting IndigoPingvi
Of course not, why would they? I just made an observation on the pair in a funny way. I am known however as a guy with the strange humor.
  • #218
  • Aug 23, 2012 9:05am Aug 23, 2012 9:05am
We had scary speeches and bad data, yet Price got back up in the range again. Possible Triangular formation.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012_0023.gif Size: 20 KB
  • #219
  • Aug 23, 2012 9:38am Aug 23, 2012 9:38am
Quoting IndigoPingvi
We had scary speeches and bad data, yet Price got back up in the range again. Possible Triangular formation.
I agree. I have been wondering why price hasnt collapsed more than this. This triangle, if indeed it is one should resolve to the downside as 'risk off' is in play

Olu
If you think you can or cannot do it you are correct
  • #220
  • Edited 4:27pm Aug 23, 2012 3:40pm | Edited 4:27pm
hi..interesting....put up a 4H chart with your 50 ema along with a CCI i use....cci on the 4hr is extremely OS so took a long here at 124.55, stop under the big wick low candle

looking over some recent history for this pair the CCI looks like a pretty good tech indicator so i am in for some long

with regard to yesterday's FOMC Minutes, i think the FED scare you mentioned is deceptive by design....#30750

thanks for the insights...this is a pair i want to learn more about





Quoting karmostaji
The Fed scared us a lil bit yesterday, that's why we have to always use stops because GJ can turn against you any second.

Price bounced off 4h 50ema and it's still above daily gann hilo, but we have the 124.90 resistance and the weekly 50ema (resistance level) at 125.50 but I'll be looking for buy opportunities unless breaks below 4h 50ema

http://img824.imageshack.us/img824/9454/37549102.gif
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