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Daily GBP/JPY analysis

  • #16,561
  • Jan 29, 2013 3:15pm Jan 29, 2013 3:15pm
Preferably, I am looking for an opportunity of bearish continuation trend scenario to perform subwave iii, iv and v refering to the alt count in white. A breakout toward the bearish continuation critical line 1 would bolster to this scenario. Otherwise, please be careful since market also have potential to perform another bullish rally to complete a bull trap of wave v/5 in yellow. Good luck.
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  • #16,562
  • Jan 30, 2013 2:59pm Jan 30, 2013 2:59pm
At the moment, please be noted that yesterday alt count in white was already invalid. Favourably I am still looking toward for a potential of major bearish retracement trend scenario refering to the latest alt om white. Otherwise, I believe market will perform another bull trap pattern in yellow before start to bearish. Good luck.
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  • #16,563
  • Jan 31, 2013 2:16pm Jan 31, 2013 2:16pm
At the moment, the continued bullish rally indicate that market still in progress to consolidate which I believe to complete an exhausted of wave v/5 either referring to the alt counts in white or yellow. A valid diagonal triangle pattern later would bolster to this scenario. Good luck and happy weekend.
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  • #16,564
  • Feb 4, 2013 3:02pm Feb 4, 2013 3:02pm
Preferably, I am looking forward for a major bearish retracement trend scenario in white. A breakout toward the lower yellow trendline and bearish continuation critical line 1 & 2 would bolster to this scenario. Otherwise, please be extra careful since market may bounce back and go further up. Good luck.
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  • #16,565
  • Feb 13, 2013 6:05am Feb 13, 2013 6:05am
Good morning, fellow traders. By the looks of it, this thread is populated with level-headed investors, unlike Geppy's GBP/JPY thread for suckers -- what a joke (150?) lol. Looking to test 144-143 levels soon, perhaps?

Best of luck to you all, gentlemen.
  • #16,566
  • Feb 19, 2013 8:44pm Feb 19, 2013 8:44pm
Waiting for the result of Claimant Count Change today....
MAKE SURE you still can TRADE tomorrow
  • #16,567
  • Mar 17, 2013 4:11pm Mar 17, 2013 4:11pm
At the moment, market have a good potential to complete a bearish reversal "Head and Shoulder" pattern refering to the alt count in yellow. Otherwise, we may see another bullish rally either to complete a "double top" pattern in white or major wave 5 in aqua. Good luck.
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  • #16,568
  • Mar 20, 2013 4:23am Mar 20, 2013 4:23am
I was also looking for a head and Shoulder formation, but the close of yesterday bear candle (mid-close bear) and the filling of the huge gap on monday are making me doubting. I guess how today will close will be important.
  • #16,569
  • Apr 17, 2013 6:25pm Apr 17, 2013 6:25pm
made a lot of pips today on GBP/JPY. turned short again. I am targeting 148.00 atm.... i may hold for a futher break lower but will wait until then to decide..
  • #16,570
  • Apr 17, 2013 11:54pm Apr 17, 2013 11:54pm
Attachment
Quoting muneeflo
made a lot of pips today on GBP/JPY. turned short again. I am targeting 148.00 atm.... i may hold for a futher break lower but will wait until then to decide..
Will be looking for some longs just below there if it makes it that far.

However right now there does seem to be a nice inverse head and shoulders pattern which needs to break its neckline to be valid, which could mean we go up from here rather than down.

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  • #16,571
  • Apr 18, 2013 3:20am Apr 18, 2013 3:20am
you were right blobsaudio. nIce call! usd/jpy stronger today as well, i am going to try and add some higher today,( short)
  • #16,572
  • Apr 18, 2013 5:46am Apr 18, 2013 5:46am
Quoting muneeflo
you were right blobsaudio. nIce call! usd/jpy stronger today as well, i am going to try and add some higher today,( short)
Hasn't crossed the black line yet but looking good so far.
  • #16,573
  • Apr 19, 2013 3:20am Apr 19, 2013 3:20am
i got stopped out -50 pips. standing aside for now.
  • #16,574
  • Apr 19, 2013 4:29am Apr 19, 2013 4:29am
Took the long from 150.62 to 152.03 Wasn't very sure of it reaching 152.50 and now not convinced of it making any new high today, maybe it will fall from here.
I'll stand aside for now and wait a retrace, some 151.50 may enter a long.
Trade according to current market condition, not what you think would be.
  • #16,575
  • Apr 19, 2013 4:38am Apr 19, 2013 4:38am
Quoting J.Clinton
Took the long from 150.62 to 152.03 Wasn't very sure of it reaching 152.50 and now not convinced of it making any new high today, maybe it will fall from here. I'll stand aside for now and wait a retrace, some 151.50 may enter a long.
It should make double top or marginal new highs (153.8 area) shortly UNLESS it's in a very large triangle pattern, wherein it may stop at 152.8~9
  • #16,576
  • Apr 19, 2013 4:45am Apr 19, 2013 4:45am
Quoting Mpt
It should make double top or marginal new highs (153.8 area) shortly UNLESS it's in a very large triangle pattern, wherein it may stop at 152.8~9

You are very right. Just wanted to add a comment and saw your reply.
It can go to 154 from 152.50 but am out of that game for today. Acceptable pips from this pair today. Better wait for a retrace to buy lower(some 151.50)
Trade according to current market condition, not what you think would be.
  • #16,577
  • Apr 19, 2013 4:55am Apr 19, 2013 4:55am
Buy Position= 152.07 S/L= 151.93 T/P1=152.28 T/P2=152.66 T/P3=153.450 Just be patient gets back on support Levels for Entry
Current Level =152.34
Don’t follow someone else’s trading advice blindly
  • #16,578
  • Apr 19, 2013 5:37am Apr 19, 2013 5:37am
1hr Gartley Pattern. Enjoy!!
Attached Image (click to enlarge)
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Don't follow me! You can and most likely will LOSE all your money!!!!
  • #16,579
  • Apr 19, 2013 9:36am Apr 19, 2013 9:36am
Quoting CNTrader
1hr Gartley Pattern. Enjoy!! {image}
Lovely. Back to 150.79 Tp, not far 150.40 Tp and LONG.
Trade according to current market condition, not what you think would be.
  • #16,580
  • Apr 19, 2013 11:10am Apr 19, 2013 11:10am
My only trade to hold through weekend. Entered LONG 151.08 Tp 153.7 Sl 150.77 Good Day All
Trade according to current market condition, not what you think would be.
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