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  • #14,681
  • Sep 26, 2014 7:46am Sep 26, 2014 7:46am
Moved SL to break even, although I am still bearish anything can happen. 177.86 seems like a dam but the more price gets there the weaker. So let's see
  • #14,682
  • Sep 26, 2014 9:46am Sep 26, 2014 9:46am
hi all,

Nice trade 50 pip plus...

cheers
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  • #14,683
  • Sep 26, 2014 10:00am Sep 26, 2014 10:00am
Quoting mrhb30jr
hi all, Nice trade 50 pip plus... cheers {image}
Great! That was easy 50 pips!
Money never sleeps I can hear the dollar calling me
  • #14,684
  • Sep 26, 2014 10:05am Sep 26, 2014 10:05am
Quoting mrhb30jr
hi all, lfxjpy, gbplfx and gbpjpy ..... at same direction ..time to going down ... cheers {image} {image} {image}
Hi all,

nothing change the direction ..... time to short

cheers
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  • #14,685
  • Sep 26, 2014 10:06am Sep 26, 2014 10:06am
Quoting shivam332
{quote} Great! That was easy 50 pips!
  • #14,686
  • Sep 26, 2014 10:10am Sep 26, 2014 10:10am
To strike a balance between fear and greed, I always close out a trade by 12pm est. that way you don't get caught out there when the big boys close out their positions. Gl
  • #14,687
  • Sep 26, 2014 10:13am Sep 26, 2014 10:13am
Quoting mrhb30jr
{quote}
I think GJ is slowly turning long term bearish. Just my view, just waiting for confirmation to sell on H4.
Money never sleeps I can hear the dollar calling me
  • #14,688
  • Sep 26, 2014 10:35am Sep 26, 2014 10:35am
Quoting shivam332
{quote} I think GJ is slowly turning long term bearish. Just my view, just waiting for confirmation to sell on H4.
Might legitimately have to wait till next week for that unless your have a high capacity for pain. If today's close is in the 177.00/10 levels...then much sooner. But seems institutions/traders are using this last liquidity to close out their positions so price is going to go up right now. Might get that 4hrly sell opportunity late Tuesday
  • #14,689
  • Sep 26, 2014 10:54am Sep 26, 2014 10:54am
It's in an oval shaped, very narrow and highly compressed consolidation with a centre at 177.6. Furthermore, it could even be running along a rounding bottom. It's spent nearly all its time in the upper half of the consolidation- which, by the way, just happens to be exactly where the monthly 200sma sits. And each time it falls below centre it quickly returns.

Without further data, I don't get this whole bearish thing right now.
  • #14,690
  • Sep 26, 2014 10:59am Sep 26, 2014 10:59am
Quoting IveGotQuads
{quote} Might legitimately have to wait till next week for that unless your have a high capacity for pain. If today's close is in the 177.00/10 levels...then much sooner. But seems institutions/traders are using this last liquidity to close out their positions so price is going to go up right now. Might get that 4hrly sell opportunity late Tuesday
Yes, I agree with you But once sell is on this is going to give us huge pips!
Money never sleeps I can hear the dollar calling me
  • #14,691
  • Sep 26, 2014 11:08am Sep 26, 2014 11:08am
Quoting shivam332
{quote} I think GJ is slowly turning long term bearish. Just my view, just waiting for confirmation to sell on H4.
i.m agree with you shivam,....

it's better if GJ another test the high 1st before going down....

cheers
  • #14,692
  • Sep 26, 2014 11:11am Sep 26, 2014 11:11am
Quoting Mpt
It's in an oval shaped, very narrow and highly compressed consolidation with a centre at 177.6. Furthermore, it could even be running along a rounding bottom. It's spent nearly all its time in the upper half of the consolidation- which, by the way, just happens to be exactly where the monthly 200sma sits. And each time it falls below centre it quickly returns. Without further data, I don't get this whole bearish thing right now.
.

I'm at work so I can't elaborate with charts and diagrams but when you look at the daily charts you see the bearish candle from yesterday that closes below the preceding candle. It confirms the entry for that bigger bearish candle from couple of days ago. Today with the retracement and downward pressure occurring if it wasn't Friday I wouldn't mind holdind the trade overnight.
  • #14,693
  • Sep 26, 2014 11:18am Sep 26, 2014 11:18am
on that note gbp/jpy is bullish on a longer term but midterm its bearish as its going through a retracement down to the 50 SMA. ( I don't use that tho but trend traders do) and it actually is in confluence with the fib
  • #14,694
  • Sep 26, 2014 9:34pm Sep 26, 2014 9:34pm
Good reading here....Why do I feel a big market surprise up-move coming right up?...

I non't know.....He He Don't really know when but Sunday is heads-up....
  • #14,695
  • Edited 10:59pm Sep 26, 2014 10:39pm | Edited 10:59pm
Quoting Gbp/jpy
Good reading here....Why do I feel a big market surprise up-move coming right up?... I non't know.....He He Don't really know when but Sunday is heads-up....
​​It's already Saturday afternoon here, so I'll be sure to get up early tomorrow morning and wait. But seriously, I still think it will break up. Where it gets to and what happens then is the really big question. Does it fall back aggressively, or does it sustain above 178.7/179.2 and go on to break 180.6?

​​As long as it holds over the recent low, it could turn very bullish, but if it falls even a pip below there and recovers, it might not make it over the high ( b wave ).

​​Using chart pattern analogies, an attempt at only double top, or that old family favorite the cup and handle thing.
  • #14,696
  • Sep 26, 2014 11:32pm Sep 26, 2014 11:32pm
I'll be watching for charts drawing pics.....cup and handle must be London doing the Drawing.
Also, I love it when they draw profiles of human faces or the Texas shape, I swear it.
  • #14,697
  • Edited Sep 27, 2014 12:22am Sep 26, 2014 11:37pm | Edited Sep 27, 2014 12:22am
Quoting Gbp/jpy
I'll be watching for charts drawing pics.....cup and handle must be London doing the Drawing. Also, I love it when they draw profiles of human faces or the Texas shape, I swear it.
Or Jesus in a cloud or on a piece of toast, or gophers on Mars.

​​edit But it did close below the centre, so the slow fade argument can't be ruled out either. It could be predictive as share markets fall back and the Japanese, from the pm down are questioning the overly weak Yen. Anyone for a reverse intervention?
  • #14,698
  • Sep 27, 2014 12:48pm Sep 27, 2014 12:48pm
So on the weekly we see that it is bullish, and even if this drops or retraces 700 pips we would still be in a bullish trend till otherwise. We can also see that the 50 SMA (red line) coincides with the 61.8 fib and 170.00 round number zone (psychological resistance). which brings about multiple confluences of support. With this in mind we can ascertain potential biases and make better judgments in both Long term, mid term and short term trends. In conclusion Up market and down market patterns are ALWAYS present, merely one is more dominant. Good luck !!!
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  • #14,699
  • Sep 29, 2014 2:52am Sep 29, 2014 2:52am
Quoting mrhb30jr
{quote} i.m agree with you shivam,.... it's better if GJ another test the high 1st before going down.... cheers
Hi All,

GJ now going up 1st before continue going down ...patience

cheers
  • #14,700
  • Oct 1, 2014 2:54am Oct 1, 2014 2:54am
Wow, almost 50 hrs and this thread has remain dormant. Not surprising since this pair is hard to tame with so many moving parts, but this isn't the time to be idling as there is a HUGE opportunity in the books for the Gbp/Jpy ....
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