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I have a Analysis on the Gbp/Jpy that I think you will enjoy. Please leave your comments so I can get some feedback from you all about this trade. This is called being patient which is what I talked about last night in this post. I waited for the setup to play out and I am still waiting for the 8 hr candle to close.

The candle is going to close around 9 am est Time. Follow me on Twitter to see if I make the trade or not. I will broadcast my entry on twitter for everyone that follows me.

This is a counter trend trade but I am looking at it because of a strong Double Top Chart Pattern.

INTRA-DAY GBP/USD: 1.5933

Last Update At 03 Aug 2010 09:24 GMT

Although cable has retreated after intra-day rise to a fresh 6-month high of 1.5865 n sideways trading wud be seen, as long as 1.5895 holds, upside bias remains for gain twds dynamic res at 1.5968 (62% r of 1.7044-1.4228).

Buy again on dips with stop as indicated n only
below 1.5862 wud risk weakness to 1.5838/43.

Range Forecast
1.5915 / 1.5950


Resistance/Support
R: 1.5968/1.5990/1.6050
S: 1.5862/1.5803/1.5749

http://www.acetraderfx.com

INTRA-DAY USD/JPY:

Last Update At 03 Aug 2010 07:09 GMT

Range Forecast
86.20 / 86.45


Resistance/Support
R: 86.65 / 86.89 / 87.10
S: 86.20 / 85.95 / 85.86

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INTRA-DAY EUR/USD:

Last Update At 03 Aug 2010 07:08 GMT

Range Forecast
1.3165 / 1.3196


Resistance/Support
R: 1.3196/1.3228/1.3267
S: 1.3146/1.3107/1.3090

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INTRA-DAY USD/CHF:

Last Update At 03 Aug 2010 06:38 GMT

Range Forecast
1.0365 / 1.0400


Resistance/Support
R: 1.0428/1.0455/1.0477
S: 1.0348/1.0338/1.0317 ...

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.3150

Late Update At 03 Aug 2010 06:17 GMT

Although euro has retreated after faltering
below y'day's 3-month 1.3196 high n consolidation wud be seen, reckon 1.3140/43 wud hold n a rebound is still likely, however, breach of said res needed
to confirm upmove has once again resumed, 1.3228.


Buy on dips with stop as indicated, break wud
risk stronger pullback to 1.3107.


Range Forecast
1.3150 / 1.3180


Resistance/Support
R: 1.3196/1.3228/1.3267
S: 1.3143/1.3107/1.3090

http://www.acetraderfx.com