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Daily GBP/JPY analysis

  • #16,501
  • Dec 20, 2012 10:28am Dec 20, 2012 10:28am
Quoting 4rextrader
nice man...i think ill be out until the second week of january. plan to get in asap, to ride the major moves we could be seeing in the weakening yen in the near future.
Same here im down to roughly 25% of my orginal positions on all yen crosses & adjusting stops accordingly based on the daily closes. I was going to start piling in again lastnight on the weakness it was clearly profit taking & a stop hunt in a low volume market, just punishing weak longs & shaking them out before the run continues, but my plan so to take 2 weeks off for the holidays & I had a great year so there was no reason to chance it. If Abe gets his way he will ease till Japan is way beyond safe levels of debt & the yen is practically worthless. I mentioned this in one of these other yen threads that I believe in 2013 buying the dips on weakness & booking profits into any nice pushes upward should provide a simple yet very profitable strategy.
It works till it doesn't
  • #16,502
  • Dec 20, 2012 6:08pm Dec 20, 2012 6:08pm
At the moment, I am looking forward for a potential of "bull trap" pattern refering to the alt count in yellow. Another an exausted of bullish rally and follow by a pullback/breakout toward the lower yellow trendline would bolster to this scenario. Happy Christmas Holidays and good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 1h.gif Size: 17 KB
  • #16,503
  • Dec 22, 2012 8:34am Dec 22, 2012 8:34am
Quoting DaEdge
Same here im down to roughly 25% of my orginal positions on all yen crosses & adjusting stops accordingly based on the daily closes. I was going to start piling in again lastnight on the weakness it was clearly profit taking & a stop hunt in a low volume market, just punishing weak longs & shaking them out before the run continues, but my plan so to take 2 weeks off for the holidays & I had a great year so there was no reason to chance it. If Abe gets his way he will ease till Japan is way beyond safe levels of debt & the yen is practically worthless....

nice brother...happy holidays...can't for next year!!!
  • #16,504
  • Dec 22, 2012 12:48pm Dec 22, 2012 12:48pm
Quoting Jebatfx
At the moment, I am looking forward for a potential of "bull trap" pattern refering to the alt count in yellow. Another an exausted of bullish rally and follow by a pullback/breakout toward the lower yellow trendline would bolster to this scenario. Happy Christmas Holidays and good luck.
ya, we should have at least one red week, the 8h charts in eurjpy and gbpjpy are completely vertical...
I'll shop after the drop
  • #16,505
  • Dec 22, 2012 1:51pm Dec 22, 2012 1:51pm
Quoting 4rextrader

nice brother...happy holidays...can't for next year!!!
Thank you sir. Hope you did well on this move as well. Happy holidays to you & the family. I look forward to a lot more learning & sharing with the many great traders like yourself that FF has to offer. I have only been a member here for a short time but there are definitely many amazing people here to share ideas with & sharpen the skills on this never ending learning curve of the markets.
It works till it doesn't
  • #16,506
  • Dec 22, 2012 7:04pm Dec 22, 2012 7:04pm
I don't like the new layout
New voice message: Why are you calling me? If I need you, I'll call you!
  • #16,507
  • Dec 23, 2012 6:05pm Dec 23, 2012 6:05pm
At the moment, a valid falling wedge pattern in aqua would bolster to either alt counts in white or aqua. Otherwise, a breakout toward the bearish continuation critical line 1 would indicate that market may already in a bearish reversal trend in yellow. Merry Christmas and Happy New Year.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 1h.gif Size: 17 KB
  • #16,508
  • Dec 24, 2012 8:36am Dec 24, 2012 8:36am
Time to pump more longs soon. on GBP/JPY as well.
Abe said wants USD/JPY 90+ levels, which is helpful to exporters
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #16,509
  • Dec 25, 2012 12:47pm Dec 25, 2012 12:47pm
my view in gbp/jpy............
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  • #16,510
  • Dec 25, 2012 8:22pm Dec 25, 2012 8:22pm
Quoting avijitpyne
my view in gbp/jpy............
Looks like its consolidating again I think the continuation move starts from the break of 138.00, if 138.00 goes we could see 141.50 before years end. Doesn't seem like there going to let these pairs pullback. PA has been straight moves up followed by consolidation & more up moves & it appears its doing the same thing again.
It works till it doesn't
  • #16,511
  • Dec 25, 2012 9:32pm Dec 25, 2012 9:32pm
The main trend is up and we can catch some pips if price retrace.

This week one trade at -80 pips closed(Monday daily) and another leg at +40 pips(still alive).Will see what will happen.

Happy trading

Regards
Prakash
I am a hunter...i kill both bulls and bears...
  • #16,512
  • Dec 26, 2012 6:50pm Dec 26, 2012 6:50pm
Hi guys..

This pair is trending up without any retrace.Hope every one participating in the market.

Here is my daily chart.

Regards
Prakash
Attached Image (click to enlarge)
Click to Enlarge Name: daily 27thdec.(gbp-jpy).gif Size: 28 KB
I am a hunter...i kill both bulls and bears...
  • #16,513
  • Jan 4, 2013 5:29pm Jan 4, 2013 5:29pm
hello all,

hope everyone had a good holiday and new year. Ill be getting into the yen as soon as next week begins and looking forward to it! any ideas on where gj is going since it just broke it's weekly resistance. From what I can tell, i don't see on my chart the next resistance point, any ideas?
  • #16,514
  • Jan 4, 2013 7:28pm Jan 4, 2013 7:28pm
Quoting 4rextrader
hello all,

hope everyone had a good holiday and new year. Ill be getting into the yen as soon as next week begins and looking forward to it! any ideas on where gj is going since it just broke it's weekly resistance. From what I can tell, i don't see on my chart the next resistance point, any ideas?
To the moon. No seriously though if you look at the monthly there's resistance roughly every 500 pips starting from 140.00 going all the way to 165.00, 145.00 might slow it down a bit but the bigger one comes at 150.00. I Woundnt consider a short until 150.00 shows failure & even then I have zero interest being the first one the party I'd rather wait for it confirm the momentum has changed. For now its all about buying on weakness & booking profits into bursts of strength.
It works till it doesn't
  • #16,515
  • Jan 4, 2013 7:49pm Jan 4, 2013 7:49pm
Quoting oathbreaker
Hi guys..

This pair is trending up without any retrace.Hope every one participating in the market.

Here is my daily chart.

Regards
Prakash
v. impressive
what are the MAs you used?
Trade As A Sniper
  • #16,516
  • Jan 4, 2013 9:34pm Jan 4, 2013 9:34pm
Quoting DaEdge
To the moon. No seriously though if you look at the monthly there's resistance roughly every 500 pips starting from 140.00 going all the way to 165.00, 145.00 might slow it down a bit but the bigger one comes at 150.00. I Woundnt consider a short until 150.00 shows failure & even then I have zero interest being the first one the party I'd rather wait for it confirm the momentum has changed. For now its all about buying on weakness & booking profits into bursts of strength.
ya after reading your comment i looked, and i saw 144.4 and then possibly 150, according to the monthly i saw 165, is that where you saw it, or did i miss it on the weekly..... if it opens flat come sunday, ill be opening a position. if it gaps up, i may wait to see if it drop first before i get in. we will see...
  • #16,517
  • Jan 4, 2013 11:44pm Jan 4, 2013 11:44pm
Quoting 4rextrader
ya after reading your comment i looked, and i saw 144.4 and then possibly 150, according to the monthly i saw 165, is that where you saw it, or did i miss it on the weekly..... if it opens flat come sunday, ill be opening a position. if it gaps up, i may wait to see if it drop first before i get in. we will see...
Yes it missed 165.00 on the weekly. I bought a little yesterday's London session in front of NFP just a small amount around 140.70 area to start so I'm watching Sunday open & will buy small pieces on weakness & hopefully again at some point monday during us session anywhere near 141.00 to 140.25 that range seems like a good spot to buy. Looking to keep average price below 141.00 Risk is clearly defined with stop around 139.60 incase the try to run stops in 140.00 & a little below area then first target 145.00 then 150.00 by early February.
.
It works till it doesn't
  • #16,518
  • Jan 5, 2013 7:24am Jan 5, 2013 7:24am
Quoting DaEdge
Yes it missed 165.00 on the weekly. I bought a little yesterday's London session in front of NFP just a small amount around 140.70 area to start so I'm watching Sunday open & will buy small pieces on weakness & hopefully again at some point monday during us session anywhere near 141.00 to 140.25 that range seems like a good spot to buy. Looking to keep average price below 141.00 Risk is clearly defined with stop around 139.60 incase the try to run stops in 140.00 & a little below area then first target 145.00 then 150.00 by early February.
.
  • #16,519
  • Jan 5, 2013 10:04am Jan 5, 2013 10:04am
Hello all I am new to the forum and found this thread through twitter when looking for analysis on the GBP/JPY. I use ichikoku and candlestick analysis and little else and have been long since 135.615 on 17th December 2012.

I'm still bullish on this pair and im keeping a little journal here: http://benlawsfx.weebly.com/1/post/2...-ichimoku.html for just myself and a couple of people who are following my progress etc.

I have moved my stop up to 139 to protect some profits but other than that I'm in an "up to the moon" stance all the way. I definately feel an assault on 145.000 coming along soon.
  • #16,520
  • Jan 5, 2013 10:37am Jan 5, 2013 10:37am
hmmmm, different reply format...
great reading on this thread, men. Can you tell there's secrets being played on the price action...global fundamental secrets.
then we have the retracements ratios...the math of elliot wave analysis still rules, it can be affected slightly by the big wealth funds somewhat. but the nature's fibonacci increments can be found. God is good all the time to us retail traders, huh!! it's as if He has given us the power to create wealth.! I read that somewhere....OH!!!....duet. 8:18

Impulse or corrective....is the first determination, then will wave 3 be 176.4% or 376.4%.....then we must be aware of the end-of-the-year major reversal or thrust (that one is easy), of the last four.....the first two were dead-on.....then last year was off a little calendar-wise....then this year it was.....it was........aarrrggghgghhhghh....(falls dead)(before he could post the whole dang picture).....
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