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  #81 (permalink)  
Old 04-15-2008, 06:25 PM
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I would tp around 199.65. I am a short term trader myself. I think price can still push higher. If I was entering now, I would start building my shorts with my tp in mind. Even though it will probably fall even a little more past my tp. I don't trade this pair, but that is my opinion. I may and could be wrong. We will find out.
The wick on the 15min just hit my tp advice.
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  #82 (permalink)  
Old 04-15-2008, 06:34 PM
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Originally Posted by mytwopips View Post
I would tp around 199.65. I am a short term trader myself. I think price can still push higher. If I was entering now, I would start building my shorts with my tp in mind. Even though it will probably fall even a little more past my tp. I don't trade this pair, but that is my opinion. I may and could be wrong. We will find out.

Thanks mytwopips

I agree with you and think we are going South from here. If we go straight down I will be happy though. 15,30 mins, 1Hr at oversold, Slow Stochs starting to turn down from above 80-100(or about to), CCI peaked...

I hope we get through 199.50ish fairly quickly, but have allowed for a bounce back to 200.20-80 ish just in case...I will build more Shorts after my first 2 negative ones are OK. Tonight could be when this drops like a brick (mind you that'll only happen when I leave the screens for 30 secs for a coffee as usual ). Being a bit intense with the trading at the mo because when it goes I'll be leaving it for a few weeks to run the course...mind you I could be wrong too
Attached Images
File Type: jpg gbp-jpy 15min 15-04.jpg (44.9 KB, 5 views)
File Type: jpg gbp-jpy 30min 15-04.jpg (43.3 KB, 4 views)
File Type: jpg gbp-jpy 1hr 15-04.jpg (43.2 KB, 5 views)
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  #83 (permalink)  
Old 04-15-2008, 06:36 PM
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The wick on the 15min just hit my tp advice.
Good stuff! Didn't see the above as I was writting the post with the charts and did'nt refresh the page again!

Lets see if we bounce from here or straight South...
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  #84 (permalink)  
Old 04-15-2008, 07:16 PM
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Hi cadarkitek ,

Which strategy are you using? Sounds quite good.
It includes candle formations, Stoch., RSI, TLs and BB on 1H charts. I'm still testing it, its working out quite well so far. Look out for a thread with the details soon. I never traded GJ, but its now getting my attention since i test my strat. on it and the results looks great.
Last edited by cadarkitek; 04-15-2008 at 07:19 PM.
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  #85 (permalink)  
Old 04-15-2008, 08:13 PM
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Price kept going after my tp suggestion. Now it is resting in a support zone with a doji. Lets see what it wants to do next.
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  #86 (permalink)  
Old 04-15-2008, 08:23 PM
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Default 4 hr g/j
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Originally Posted by mytwopips View Post
Price kept going after my tp suggestion. Now it is resting in a support zone with a doji. Lets see what it wants to do next.
Good evening everyone. Looks like the 4 hr H/S is still in tact and we now have a nice little triangle. The 50 ema on the 4 hr seems to be propping the price up for now. I am wondering if we may get a little more to the upside looking at the 1 hr chart. Maybe I will have a chance to get on board.
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  #87 (permalink)  
Old 04-15-2008, 08:30 PM
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Default 1 hr chart
Price is still above the 50 ema (red)on the 1 hr also. I think maybe it wants the 200 ema (yellow) again which would be a good shorting point if I can get it. Have to keep my eye on the u/j just in case it wants to pull the g/j higher with it. I really appreciate everyones contributions. Group analysis is always best and makes trading a lot more fun.
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  #88 (permalink)  
Old 04-15-2008, 08:36 PM
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Price kept going after my tp suggestion. Now it is resting in a support zone with a doji. Lets see what it wants to do next.
It bounced up. Classic doji on support leads to a reversal.

By the way. I am only following on 15 mins and not trading this pair right now.

Happy trading to all!
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  #89 (permalink)  
Old 04-15-2008, 09:54 PM
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Originally Posted by PipChick View Post
Price is still above the 50 ema (red)on the 1 hr also. I think maybe it wants the 200 ema (yellow) again which would be a good shorting point if I can get it. Have to keep my eye on the u/j just in case it wants to pull the g/j higher with it. I really appreciate everyones contributions. Group analysis is always best and makes trading a lot more fun.
Hi Pip,

Posted a chart earlier showing what I think might happen - its below (1hr). So far its playing out - here's another chart of the 15min in a triangle against resistance - this could result in a fast breakout North - but I don't think so this time.

I think the resistance will hold - this is the second test, if we rebound of here again I think we are South. 200ema seems to be holding on 1hr too...

IF we pass North, gains will be limited/slown down by a major sell off on the E/J at 161.10 -20.

I would say here is a good point to join Short with a tight stop above the 1hr 200 ema - BUT I could be wrong

Doji appearing on 1hr at resistance - maybe you want to wait until this hourly candle completes in 8 mins...

Happy Trading

Edited - posted wrong 15 chart
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File Type: jpg gbp-jpy 15min 1 16-04.jpg (39.8 KB, 4 views)
File Type: jpg gbp-jpy 1hr 15-04.jpg (43.2 KB, 3 views)
Last edited by shakesfx; 04-15-2008 at 10:01 PM.
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  #90 (permalink)  
Old 04-15-2008, 10:09 PM
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Here's another 15mins, if we break the triangle South were down fast...
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