a quick view before going long
the 50% fibo retracement of 207.97 - 193.52 is at the same level as the 61.8% fibo retracement of 205.04 - 193.52 both at @ 200.26 so i will wait for a clear break above this level before going long, besides we just need another bad news to turn things over so a tight stop will be wise
here's the chart
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12536&stc=1&thumb=1&d=1205871817
Gap filled So you think you know how forex works?
Somebody needs to remind me..duh
We just filled the gap down on sunday night! Leave no gap unfilled I always say!
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12545&stc=1&d=1205881593
Alternative outcome Let's just say for now that we have bottomed at 192.60. All factors seem to be in place. We had a capitulation, we have some dramatic dynamics in all markets, dollar may be stabalizing. And the carry may be back as a result.
Yesterdays price action if viewed from this perspective, suggests that Wave 5 of C did end at 192.60. The price expansion yesterday was significant, and the reversal after the fed looks to me as a possible trend change signal.
If THIS is the case then shorting may be very, very deadly. Perhaps we had a minor wave 1 or A up (60 min) to 201.77. We could be currently correcting in a wave B or 2 which may have already finished at 195.78. If so we should study the move off of this mornings lows to look for possible clues as to whether we are moving impulsively or correctively. Going down to the 5 min chart, it is possible that new lows are already off the table. If price holds on a closing basis above 196.50, look for long opportunities
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Bearish Pattern
this pattern should be successful as ratios are precise. we will have to see what happens
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Update
Divergence is there vividly, as the pattern matures I am almost certain we will see the decline
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technical analysis daily gbpjpy
Hi all
i see a potential pullback till 202 ( fibo retracement 61.8%)
before a new move down till 190/189.50 area (fibo extension 138.2)
see attached chart
kr
jer
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12638&stc=1&thumb=1&d=1206095165
GBPJPY daily
Point & Figure
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12655&stc=1&d=1206120309
Dilly,
From a Wave perspective, I think you are right on. Posted is the weekly chart. Price has exceede the 161.8 % of 1 and the RSI is way Oversold, so I think 3 may be over. Just a guess!!
Happy Trading.Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12654&stc=1&thumb=1&d=1206119011
Gbpchf / Gbpjpy
Interesting relationship... ,may pull the gbpjpy higher in nitro-like fashion.
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12709&stc=1&d=1206368743
gbpjpy daily - updated daily technical analysis
update of post 4972 ; 2008 March 24 20 PM GMT
______________________
see screen attached
kr
Jer
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12712&stc=1&thumb=1&d=1206389152
Update to Post #4977
This is an update from Post #4977. I posted a weekly chart then. Below is a 240min chart. Went long at 196.00. Since moved stop to break even. Looking for a return to 208 - 210 before the next leg down.
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12714&stc=1&thumb=1&d=1206395857
Dear Dilly,
The only thing that I see is we are near a nice big breakout....wish I knew which direction! http://www.learncurrencytrading.com/fxforum/images/smilies/wink.gif
Though the chances of an upside breakout are slightly more than the downside if we stay out of the bad news...the upside may be shaky beyond 204, but if UK news comes good on Friday, we very well might shift to 205+ area.
But, I've this feeling that we will briefly touch 204+ (get all longs roped in) and then crash like crazy to 190 or lower...
So, staying out for the time being...why try to make a trade where one doesn't exist? Long on a break of 201 w 203.50 target is a possibility and short at 203.50 w 190 target on failure at 204 is another possibility...on the lower side, long at bounce off 199 w 203.50 target and a short on break of 196 w 190 target are possibilities..but no clear signal at the moment...
Here is what I see as of now...
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12761&stc=1&thumb=1&d=1206516673
gbpjpy H4 technical analysis
Hi all
new possible correction underway till low of march, 14th (203.00 level)
- we tested low channel today
- gbpusd will certainly outperform usdjpy
see attached chart
kr
jerome
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12771&stc=1&thumb=1&d=1206547928
here it goes again
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12777&stc=1&thumb=1&d=1206555610
gbpjpy H4 updated
Tomas
I agree with U
either 200/70 level is holding and back down
either it breaks and go till rf61.8% at 202.06 and 203.80( loaw march 11)
Kr
jerome
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12781&stc=1&thumb=1&d=1206560252
http://www.learncurrencytrading.com/fxforum/images/attach/doc.gifDAILY.doc (85.0 KB, 44 views)
GBPJPY 5 minute
Bearish Bat
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12802&stc=1&d=1206575358
GBPJPY 5 minute
Bearish AB = CD
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12806&stc=1&d=1206588772
Dear Mara,
b/e is break-even... http://www.learncurrencytrading.com/fxforum/images/smilies/smile.gif I think the pair needs to leave 198 handle to create some move either way...197.50 and 198.50 would be the levels that need to be breached for some follow-through...
I'm looking for a long if 198.50 is broken, otherwise will wait for 197.50 breach for a short...
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12808&stc=1&thumb=1&d=1206594665
Volume Charts P&F
Each of these time frames is bullish (for now)
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12809&stc=1&d=1206596411
GBPJPY 60 minute
The one hour chart appears quite bearish. even though shorter time frames are bullish
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12810&stc=1&d=1206596551
careful if u are long, it may be about to reverse....
I am attaching a 120 minute chart showing that direction is south.. although my shorter time frames are still rising, there is Macd divergence on each
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12811&stc=1&d=1206598889
Maratha......
She will not make us cheese cake if you tell her you have re entered long........!!!!!!!
She is going to try to get 300 pips tonight.....
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12817&stc=1&d=1206606020
Maratha, you were correct about the 200 mark....!!!
Attached Imageshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12818&stc=1&d=1206607472
gbpjpy H1
see comments on chart
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12877&stc=1&thumb=1&d=1206732876
This pair is extremely tricky. It can reverse any direction very quickly so both longs and shorts must be careful with it. My expectation is that the pair will attempt to reach the upper band as shown below before it retraces back to lower 198's
Attached Thumbnailshttp://www.learncurrencytrading.com/fxforum/attachment.php?attachmentid=12813&stc=1&thumb=1&d=1206601408