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Thread: GBP and JPY Pairs

  1. #70681
    Ikee's Avatar
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    Cool

    Still sticking to my 1,3600 retrace call of a month ago. In reality 1.3550 to 1.3630 is likely. Depending how long it takes to get there.
    stryker, FXTA and captester like this.
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  2. #70682
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    My outlook on E/U.....

    30 min: looks like bearish div on eu 30, a move back down to the daily pivot is expected before any up move, 30 min closein above 3150 will confirm a move up to the R1 n extended to R2,


    4Hr: price is stuck in between the 55 ma n 100 ma S n R levels, close above 3150 or the 55 ma will confirm the move up to the R 1 n extended to the R2 same as 30, i see minor bearish div on 4hr, which suggest a touch of pivot or 3100 before any move up,

    My only concern is daily which is not favorin the up move,
    will see how it plays out..... i ve a long from 1.3044 n still holdin almost at 85 pips + now, will bail out soon,

    Gud Luck all n Happy Trading
    ~ chaudhry ~
    รูปขนาดเล็ก รูปขนาดเล็ก GBP and JPY Pairs-17-2-2012-9-44-34-am-looner.jpg  

    GBP and JPY Pairs-17-2-2012-9-57-31-am-eu-4hr.jpg  

    รูป รูป    
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  3. #70683
    Arumi is offline Member
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    While other currency are up again the US Dollar, why USD/JPY keep jumping without any sign of retrace.
    Both 4H (and daily) RSI and Stoch. show extrem over bought signals.

    I'm in short positions for both aud/usd and usd/jpy and watching both pair climbing up with horror in my heart (

  4. #70684
    FXTA's Avatar
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    Quote Originally Posted by Ikee View Post
    Still sticking to my 1,3600 retrace call of a month ago. In reality 1.3550 to 1.3630 is likely. Depending how long it takes to get there.
    Im with you there Ikee. IMO 3600+ is in view again.
    “There are no limitations to the mind except those we acknowledge.”

  5. #70685
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    After today's power move up, My weekly chart has 3600+ back in focus and im looking to buy on dips. Im trying to buy back in at 3080 and add on a break 3157 level. Weekly chart shows we may head to the trendline which is around 36xx'ish maybe even extend to 37xx. The Bull could be charging up for the weeks to come. Anyway some of my views on possible plays going into the coming week.
    รูปขนาดเล็ก รูปขนาดเล็ก GBP and JPY Pairs-euro.jpg  

    GBP and JPY Pairs-qq.jpg  

    Last edited by FXTA; 02-16-2012 at 11:42 PM.
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  6. #70686
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    im with you on this, i was able to grab long at 3014 but have my stop now at 3063. i'm debating to take profit here 3125 and try and buy lower or wait and see if this move is fake or just risk the gain with the stop already in profit....

    What i would like to see is a bullish/flattish weekly close .. it's is possible only 90 pips from here( 3126 to around 3208) . i would also like to see a fast move and close above 3230 within the next few trading sessions. Im not sure if we can make the break this time around and we keep fluttering in the range like before

    Quote Originally Posted by FXTA View Post
    After today's power move up, My weekly chart has 3600+ back in focus and im looking to buy on dips. Im trying to buy back in at 3080 and add on a break 3157 level. Weekly chart shows we may head to the trendline which is around 36xx'ish maybe even extend to 37xx. The Bull could be charging up for the weeks to come. Anyway some om my views on possible plays going into the coming week.
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  7. #70687
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    Quote Originally Posted by Arumi View Post
    While other currency are up again the US Dollar, why USD/JPY keep jumping without any sign of retrace.
    Both 4H (and daily) RSI and Stoch. show extrem over bought signals.

    I'm in short positions for both aud/usd and usd/jpy and watching both pair climbing up with horror in my heart (
    Bank of Japan has tried intervention, stealth intervention. But they always do this when USD/JPY is at the bottom of the channel. So it only has a temporary effect. After major exporting Japanese companies continue to report losses. Which they blame on the high value of the YEN. The BOJ has taken a page from the US central bank (FED). The BOJ is engaged in a QE , buying an additional 10 trillion Yen worth of bonds. I would be careful shorting the AUD/USD it is correlated with the US stock market. The S&P just closed today at 1,358
    Possible Greek deal will send it higher.
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  8. #70688
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    Quote Originally Posted by TAfool View Post
    Absolutely no currently open gaps. Longed e/u on the second 38% retrace approach just after point "Y", too early, and rode the draw. Bailed the long at point (i) and now awaiting for point (ii) to reload longs.
    (ii) may only creep along the channel line and not do a deep retrace, be prepared to jump in.

    Big chart:
    http://www.tafool.com/Charts/usd0216121hGapChart.png
    Took some small change chasing a retrace but not a lot of energy that way - seems that long downward triangle of Wednesday, Thursday did the job, now just perhaps the move upwards is not going to let them hopeful buyers back in or more significantly, the shorts out!? The retrace was in fact 23.6% on my calcs, so technically, the ABC has done something. Move back to pivot and regression channel seems about it perhaps, so I am back in long here but taken target off for now to see what energy is in the next move up after 1.3158 taken out.
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  9. #70689
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    EU 8 hrs Descending Wedge

    8 hr is showing a nice descending wedge and have a projection coming into early 34XX..
    second chart shows the red TL with 3235-40 has bull objective for today as it is the breakout lvl of earlier drop...
    PS::: I know I wrote ascending wedge on the chart, but its a descending wedge which normally break to the north side.....

    GL..
    รูปขนาดเล็ก รูปขนาดเล็ก GBP and JPY Pairs-eu-8-hrs-ascending-wedge.jpg  

    GBP and JPY Pairs-eu-8-hrs-ascending-wedge-play-have-34xx-tgt.jpg  

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    Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us—
    The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
    Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...

  10. #70690
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    EURUSD

    The purple channel is the regression channel for the move up from 1.2623 and the yellow one was the recent move down. These are both locked in place and are not be affected by new prices. The exit from the yellow channel signals a change in trend until price falls back into it again.

    Until then, I have been playing the white channel to see what happens. This takes the pivot marked '1 as its anchor, which was the end of wave 3 in the purple channel. I have not manually created this channel - this is the price action determining the best fit for a mean line at its centre and then plonked a high low deviation bars around it. Ths far then, we have a lateral channel - neutral if you will. However, as prices continue to rise here, the channel will tilt up.

    The exit at the top of this channel is 1.3317 at present (and possible target for today), which also will hit the underbelly of the purple channel. If it breaks back in to that purple channel rather than a Kiss goodbye, it will target the central dashed line bringing the 1.3500-1.3600 level into play.

    Just got to get rid of the head and shoulders scenario first though!! Have a great day everyone.
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  11. #70691
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    Hello Traders! This is a high risk setup (a move against the trend) but as long as we trade below 1.3160 then I will be bearish EUR/USD

  12. #70692
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    Quote Originally Posted by Alejandro Zambrano View Post
    Hello Traders! This is a high risk setup (a move against the trend) but as long as we trade below 1.3160 then I will be bearish EUR/USD
    Cool! Is there an uptrend?

    Sorry if I cannot answer you immediately. I'm busy moving the market in the opposite direction...

  13. #70693
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    EUR/USD February 17 - 2012
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    EUR/USD and S&P500 are overbought today and a correction is warranted. However betting on correction for the EUR/USD is a high risk as proper resistance is in the height of 1.32 and the high of 1.3160 is not considered to be resistance until we trade below 1.3115. This is also a corrective move and not in line with the short term trend.

    The S&P500 is however overbought and really close to resistance and the tendency of stock market traders to short on highs is much higher than for FX traders, with this in mind there is a case for the EUR/USD trading to 1.3090 and 1.3070 as long as we trade below 1.3060.


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  14. #70694
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    EURUSD

    My momentum indicators are in shock - can't tell anything from them that is not cantradicting price action, so latter is king.

    If that sidewards slide was wave 2 and not 5 of 1 (if this is 1 and not A up) then the 100% projection is 1.3299 and the 1.618 projection is 1.3413. The regression channel I posted first thing this morning has a gap on the bottom right hand side where price action has not formed to the downside to complete the traverse. If price is going up, a move to the first target area would 'pull' the boundary lines into allignment. This would then make the move look like an ABC. Obviously a deeper retrace would have been preferred and if this is 5 of 1 or A, then it is coming but that would be.......well, obvious.

    I am learning very very slowly, to keep my options open and try (oh how I try) and follow the waves as they form, not try and tell them what they should do. For now, the 1.3158 has been taken out by a few pips and my Hull Moving Average is telling me up. My stop is at no loss and I am going to follow this one, not lead. Honest!!
    Last edited by Clivewaverider; 02-17-2012 at 05:18 AM.
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  15. #70695
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    Lightbulb quick chart....

    lil change in plan.. 30 min showin div.. n a possible pivot touch is wht im expectin now....... any mvoe higher to the R1 wud also be a sell.............ImO.....
    รูปขนาดเล็ก รูปขนาดเล็ก GBP and JPY Pairs-17-2-2012-6-22-21-pm-change-plan.....jpg  

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