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GBP/JPY

  • #461
  • Edited 12:28am Nov 8, 2012 12:17am | Edited 12:28am
is it my computer but i can no longer see traders names at the bottom of the threads
  • #462
  • Nov 8, 2012 12:18am Nov 8, 2012 12:18am
I moved the Lower Trendline of suppose to be new channel, the third bounce on 1H/4H was to the pip. Now the distance between the upper and lower Trendline is more even.
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  • #463
  • Nov 8, 2012 12:19am Nov 8, 2012 12:19am
Quoting SmallPaul
is it my computer but i can no longer see trades names at the bottom of the threads
I can't see it either and the "Post" (for quick post) button is gone.
  • #464
  • Nov 8, 2012 1:03am Nov 8, 2012 1:03am
The people on line are now down the left side and the "reply to thread" at the top right is instead of "new post"
  • #465
  • Nov 8, 2012 1:08am Nov 8, 2012 1:08am
Quoting IndigoPingvi
I moved the Lower Trendline of suppose to be new channel, the third bounce on 1H/4H was to the pip. Now the distance between the upper and lower Trendline is more even.

I suggest you don't move your trendline. Just draw an even parallel channel. At some stage the bottom will be hit. Also, never forget that of all pairs, GJ is VERY observant of channels/ trendlines. Unlike cable and others. It will RARELY break out by more than a pip or so, except maybe during NFP and the like. If it breaks your TL, you just had it drawn in the wrong place.
  • #466
  • Nov 8, 2012 1:28am Nov 8, 2012 1:28am
Quoting Mpt
I suggest you don't move your trendline. Just draw an even parallel channel. At some stage the bottom will be hit. Also, never forget that of all pairs, GJ is VERY observant of channels/ trendlines. Unlike cable and others. It will RARELY break out by more than a pip or so, except maybe during NFP and the like. If it breaks your TL, you just had it drawn in the wrong place.
I agree, but now is actually parallel, before it wasn't. There also seem to be a small descending channel...bull flag?
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  • #467
  • Nov 8, 2012 1:37am Nov 8, 2012 1:37am
hi

looks there are nice chanel for scalping
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email me : pipspro88@gmail
  • #468
  • Nov 8, 2012 1:47am Nov 8, 2012 1:47am
Quoting IndigoPingvi
I agree, but now is actually parallel, before it wasn't. There also seem to be a small descending channel...bull flag?
Yes, possible bullish sign. I think GU will move up a bit and that would probably take it a fair distance. I see GU getting up to maybe 1.61 or 1.62.

But beyond 129.6 ???????????

Another day of waiting.
  • #469
  • Nov 8, 2012 6:06am Nov 8, 2012 6:06am
OK, GJ broke out of its channel by about 10 pips and eventually broke back in. That often indicates that the channel is no longer valid and won't offer support/resistance next time.. Look at where the 61.8 retracement to TOP of channel sits:

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  • #470
  • Nov 8, 2012 6:17am Nov 8, 2012 6:17am
Yap, we would need something significant to overcome that area. Plus there will be Ecb press conference in a bit more then 1H...
  • #471
  • Nov 8, 2012 6:23am Nov 8, 2012 6:23am
Quoting IndigoPingvi
Yap, we would need something significant to overcome that area. Plus there will be Ecb press conference in a bit more then 1H...
So you think your mate Draghi might help you out for once!!??

The previous two moves up have taken about 80 hours.
  • #472
  • Nov 8, 2012 6:31am Nov 8, 2012 6:31am
Quoting Mpt
So you think your mate Draghi might help you out for once!!??

The previous two moves up have taken about 80 hours.
ROFL, I hate that guy. It's nothing personal.

Well the price bounced from important Descending trendline and price droped almost 250 pips, 4H momentum went to Hell, the recent Bullish Trendline is broken, no one is buying here just selling,... BUT we reached 127 area and bounced from it. A waiting game
  • #473
  • Edited 1:14pm Nov 9, 2012 1:12pm | Edited 1:14pm
Quoting IndigoPingvi
I care, but can't figure out how you got to that level/ how you draw that trendlines.
my trend line goes way back, see attachment. I got the number right but missed by which looks to be 2 days or so. Still working on the timing of it all. your thoughts?
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  • #474
  • Nov 9, 2012 2:08pm Nov 9, 2012 2:08pm
Quoting jphotdeals
my trend line goes way back, see attachment. I got the number right but missed by which looks to be 2 days or so. Still working on the timing of it all. your thoughts?
Now I understand. Based on your chart/trendlines I redraw my weekly chart. Since I have several small charts at the same time on the screen I failed to see the Trendlines go way back and because of that I underestimated their importance. Both the Green and the Violet Trendlines (on my chart) are important. I f*** up! I need another monitor... But anyway, Price hit 20/53 EMA on weekly chart to the pip, at the same time it was a Trendline (Violet). My general view is still Bullish (if the Violet Trendline holds) and we'll see some fighting or another bounce from the Green Trendline maybe even next week. Job well done JpHotdeals!
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  • #475
  • Nov 9, 2012 2:45pm Nov 9, 2012 2:45pm
One more thing, Price has been in the weekly True range between 110-300 pips for the last 20 weeks. This week price crossed this number (by 11 pips). It looks like Price is getting some speed. Will we see next week 450 pip move?
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  • #476
  • Nov 9, 2012 2:48pm Nov 9, 2012 2:48pm
Quoting IndigoPingvi
Now I understand. Based on your chart/trendlines I redraw my weekly chart. Since I have several small charts at the same time on the screen I failed to see the Trendlines go way back and because of that I underestimated their importance. Both the Green and the Violet Trendlines (on my chart) are important. I f*** up! I need another monitor... But anyway, Price hit 20/53 EMA on weekly chart to the pip, at the same time it was a Trendline (Violet). My general view is still Bullish (if the Violet Trendline holds) and we'll see some fighting or another...
I have to say this is pure comedy, now with the realization that your chart is wrong and realize that we just bounced off a major trendline, and you're still bullish, is pure comedy.

If you want te be successful in trading start learning how to ride the waves of the charts and not go against it. The best advice is if you are still unsuccessful in trading, just do the opposite, when your gut tells you to buy go and sell and vice versa.
  • #477
  • Nov 9, 2012 4:21pm Nov 9, 2012 4:21pm
Quoting mrroboto
I have to say this is pure comedy, now with the realization that your chart is wrong and realize that we just bounced off a major trendline, and you're still bullish, is pure comedy.

If you want te be successful in trading start learning how to ride the waves of the charts and not go against it. The best advice is if you are still unsuccessful in trading, just do the opposite, when your gut tells you to buy go and sell and vice versa.
I came here to learn, express my view and debate about other people views. I don't understand why would you mock me? I don't mock anyone. If someone gives a setup I ask for a reason. That is not mocking. That is trying to see a different view. We all see things differently, a lot of things, not just charts. And I am trying to understand why people make decisions they do.

At the start of the week I told that my Bullish view is until 127 area. This has been broken but it hit the 2 things, the Trendline which I didn't see and I think it is important and the 20/53 EMA at the same time. So until this is broken my view is Bullish. This is my view and those are my reasons. Now you can have a different view and I am willing to listen to anyone having a different view and debate about it and reconsider things! But it is a hit below the waist to mock someone just because of his view when he is just trying to learn!

If your intentions were pure you would explain your view in detail, recommend some books or just debate, but not mock!
  • #478
  • Nov 10, 2012 4:48am Nov 10, 2012 4:48am
Quoting IndigoPingvi
I came here to learn, express my view and debate about other people views. I don't understand why would you mock me? I don't mock anyone. If someone gives a setup I ask for a reason. That is not mocking. That is trying to see a different view. We all see things differently, a lot of things, not just charts. And I am trying to understand why people make decisions they do.

At the start of the week I told that my Bullish view is until 127 area. This has been broken but it hit the 2 things, the Trendline which I didn't see and I think it is important...
I'm sorry if you feel that I am mocking you, but that is not my intention at all, I may sound harsh because that is the reality of trading, this market will eat you alive. I found it funny that you already had realized that the trend had reversed but you still insist on being bullish, I myself have fallen into that trap before and understand now that you cannot go against the market, you will need to understand how to go with it and take the pips. This is what I'm trying to point out, I too had theses demons in me a long time ago and I would always fight against the market because I wanted to force my will into it. I see your mistakes and I've done them before thats why I am just trying to point it out to you. I hope this makes sense because, I had my aha moment when I kept repeating my mistakes and kept loosing money so I reversed my trades, if I felt like buying I would sell and vice versa, so there is some truth to my statement, because I was so good at losing money then that, when I reversed what I used to do then I became successful.
  • #479
  • Nov 10, 2012 6:11am Nov 10, 2012 6:11am
Quoting mrroboto
I'm sorry if you feel that I am mocking you, but that is not my intention at all, I may sound harsh because that is the reality of trading, this market will eat you alive...
I understand what you are saying, but no, i've been there and I overcome stuburness, I have exact level for stop and belive me or not it is 125.930 (0.3 pips less then price descent). Stop was put under weekly emas but it should have ben put under Daily 153 (20 pip diference). From my point of view 3 consequtive falling days does not mean a (weekly) trend change. Should price owercome this level I will acknoledge weekly trend change and swallow the loss
  • #480
  • Edited 7:20am Nov 10, 2012 6:54am | Edited 7:20am
Umm, everyone seems to think that this wave (C) has finished at 125.9. It may well have. But c waves can also travel to the BOTTOM of wave 2, being at 125.5. And it's possible that it could even move down to the bottom of wave 1 at 124.7 ... albeit unlikely.

GJ has now shown which way it's going and this wave is likely to be wave 1 to the downside. Meaning that wave 2 will probably occur over the next few days ... and with no further data at this time I would suggest that 128.6 ~129 is an appropriate target.

Thereafter, down for wave 3.

With the whole sequence probably stopping back at at 118.8

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