Trend of the Day - Page 51

jcole252 · #**751** (**permalink**) 07-21-2009, 03:34 AM

Quote:

Originally Posted by Izumi

I sent you an e-mail last Sunday with entry and stoploss. Only thing I can add is that I'm expecting GBP to get hit on Friday.

Hi Izumi,

I read everything you post. I really appreciate your analysis... much better than my own, most of the time.

I think I've noticed the last few weeks a lot of yen buying on Fridays. Have you noticed anything similar?

Thanks,

jcole252

Izumi · #**752** (**permalink**) 07-21-2009, 04:05 AM

Quote:

Originally Posted by jcole252

Hi Izumi,

I read everything you post. I really appreciate your analysis... much better than my own, most of the time.

I think I've noticed the last few weeks a lot of yen buying on Fridays. Have you noticed anything similar?

Thanks,

jcole252

Thank you, but I'm not so good.

I didn't observe the yen buying on Friday as a rule. I will keep an eye on it from now on.

I remember that you were right about AUD/USD and AUD/JPY. AUD fell like a rock few days after you said it will. You should post more!

jcole252 · #**753** (**permalink**) 07-21-2009, 04:26 AM

Quote:

Originally Posted by Izumi

Thank you, but I'm not so good.

I didn't observe the yen buying on Friday as a rule. I will keep an eye on it from now on.

I remember that you were right about AUD/USD and AUD/JPY. AUD fell like a rock few days after you said it will. You should post more!

I've been in Japan so long that I've picked some Japanese traits. Some bad, but some good... like nodding my head, smiling, listening more, and letting people who like to talk, talk as much as they like. I was early on the AUD drop, and that's my main problem. Good analysis, but too eager.

By the way, what do you think of the down trend line on the attached chart? You could draw a similar line on AUD and probably NZD pairs also, Is the line stronger because it's more "mature"? Or is it outdated and irrelevant? I haven't been able to pin down any instructor on this question.

Izumi · #**754** (**permalink**) 07-21-2009, 04:53 AM

Quote:

Originally Posted by jcole252

I've been in Japan so long that I've picked some Japanese traits. Some bad, but some good... like nodding my head, smiling, listening more, and letting people who like to talk, talk as much as they like. I was early on the AUD drop, and that's my main problem. Good analysis, but too eager.

By the way, what do you think of the down trend line on the attached chart? You could draw a similar line on AUD and probably NZD pairs also, Is the line stronger because it's more "mature"? Or is it outdated and irrelevant? I haven't been able to pin down any instructor on this question.

I thought you are Japanese. During the last years I've been in Japan only to visit my parents and sustain some exams.

I think that GBP/JPY will go down and might fall under 1.50 during the next period (days or weeks). I don't rule out 1.57 in the meantime, but I think that the trend is down, as you describe it.

For some reason I was disconnected from the FXCM Trading Server and I can't connect back, therefore I can't upload any chart right now.

Xiao · #**755** (**permalink**) 07-21-2009, 05:05 AM

Quote:

Originally Posted by Izumi

I sent you an e-mail last Sunday with entry and stoploss. Only thing I can add is that I'm expecting GBP to get hit on Friday.

YES I do Know that Izumi I Also Re mail You!!!

and Talking about Trade I do Believe....

HELP COME's FROM YOUR OWN.LISTEN YOUR OWN THEN TRADE!!!

Becoz If you Do this You Get Knowledge That you Can count On It..

Xiao · #**756** (**permalink**) 07-21-2009, 05:15 AM

Quote:

Originally Posted by Gregory McLeod

No worries. You can call me Greg! Sir is not necessary we are all friends here!
Those were good short-term trades as you had a stop and a Limit. You got caught up in the indicator as opposed to keeping your eye on price. EUR/JPY did get down to the 133.12 area. Now the trade set ups that we look at in this forum are a little longer in scope. These are counter trend trades that are in the opposite direction of the trend. Usually, the moves in the direction of the trend yield more pips than the counter trend moves. Thanks for posting your profitable trades.

Okay Greg!!!

So gbp/jpy Just Pushing Back Down.. But I will Wait Some Correction Then I will Sell To Get Some Pips!! now in the Mean Time I will See what Is Happening In USD/JPY Pair. I have seen Some SITE NEWs About this Pair USD/JPY. I am talking about Elliot wave And I Think when It Touch About his (2) Rarely Then That Pair will Short Down and Talking With Gbp/jpy Eur/jpy With It...

have a look the Chart I think It Will Go Below 90 Level..

Name: 2009072011.png
Views: 273
Size: 17.2 KB

Name: 2009072011.png
Views: 273
Size: 17.2 KB

USD/JPY Elliott Wave Analysis - Forex Trading, Currency Forecast, FX Trading Signal, Forex Training Course, Education, Tutorial, FX Book, Forex ebook, Learn to Trade Forex, FX Guide, Pivot Points, Currency Rates, Forex Secret, Forex Brokers, Currency

Xiao · #**757** (**permalink**) 07-21-2009, 05:30 AM

Quote:

Originally Posted by Xiao

Okay Greg!!!

So gbp/jpy Just Pushing Back Down.. But I will Wait Some Correction Then I will Sell To Get Some Pips!! now in the Mean Time I will See what Is Happening In USD/JPY Pair. I have seen Some SITE NEWs About this Pair USD/JPY. I am talking about Elliot wave And I Think when It Touch About his (2) Rarely Then That Pair will Short Down and Talking With Gbp/jpy Eur/jpy With It...

have a look the Chart I think It Will Go Below 90 Level..

Attachment 33926

USD/JPY Elliott Wave Analysis - Forex Trading, Currency Forecast, FX Trading Signal, Forex Training Course, Education, Tutorial, FX Book, Forex ebook, Learn to Trade Forex, FX Guide, Pivot Points, Currency Rates, Forex Secret, Forex Brokers, Currency

And Also Just View on the 4 hour Chart..

Name: gbpjpy -4h.jpg
Views: 227
Size: 74.2 KB

Izumi · #**758** (**permalink**) 07-21-2009, 06:54 AM

Quote:

Originally Posted by jcole252

I've been in Japan so long that I've picked some Japanese traits. Some bad, but some good... like nodding my head, smiling, listening more, and letting people who like to talk, talk as much as they like. I was early on the AUD drop, and that's my main problem. Good analysis, but too eager.

By the way, what do you think of the down trend line on the attached chart? You could draw a similar line on AUD and probably NZD pairs also, Is the line stronger because it's more "mature"? Or is it outdated and irrelevant? I haven't been able to pin down any instructor on this question.

I could finally connect back to my Trading Station and I can post a GBP/JPY chart now.

Somebody asked me on Sunday about a possible GBP/JPY trade and I recommended a sell position above 156 with a stoploss at 157.5. My recommendation was against the uptrend that we saw during the last days, because I believe that GBP/JPY is pointing south on the bigger picture. The resistance line, that you are showing on your chart, intersects the 61.8% Fibonacci retracement (of the 162.583-146.741 interval) a little above 157, therefore I'm expecting this area to act as a strong resistance.

I have a waiting short on AUD/USD at 0.8240 that I will keep on long term, because I'm expecting a drop till at least 0.75. Gregory convinced me that 0.81 is too soon to short the pair and Mostly Harmless gave me a good tip about a possible entry point.

I don't know what to say about NZD. I'm not familiar with that currency.

Kimaki · #**759** (**permalink**) 07-21-2009, 07:36 AM

Thanks Greg, I am going to keep an eye on it.

Quote:

Originally Posted by Gregory McLeod

To avoid the whipsaws and to make sure that prices are moving in the direction that you want, a full-bodied candle is desirable. We have light holiday trading and a lot of false breakouts. However, waiting for this to materialise, you may miss a few pips and your stop has to be little wider. One solution for this is to wait for a retest of the break out area after you can see a full-bodied candle break out. It takes a little patience to watch it runaway from you and eventually come back with a better entry. Remember, there is always a risk that it can run completely away and not retest the breakout zone. At the point, we would pass and look for a pair that was better behaved.

Kimaki · #**760** (**permalink**) 07-21-2009, 07:51 AM

Whats that, the grave yard shift? or the THRILLER shift? Enjoy it. CHF/JPY bit me again only to show so much gain after. Within the past two weeks again I have lost more than I have gained. I have some money management question for you but I know this forum is not the place for it. I am convinced money management, is key. I see too many big numbers before reaching midway only to retrace and stop out.

Quote:

Originally Posted by Gregory McLeod

Good morning or evening to you. I am on the Asia/Euro shift so my postings are going to be a little bit earlier than usual. I hope all is well with you. Were you able to hold on to that CHFJPY pair. It got up above the trend line momentarily before backing off.

Xiao · #**761** (**permalink**) 07-21-2009, 09:33 AM

Quote:

Originally Posted by Izumi

I could finally connect back to my Trading Station and I can post a GBP/JPY chart now.

Somebody asked me on Sunday about a possible GBP/JPY trade and I recommended a sell position above 156 with a stoploss at 157.5. My recommendation was against the uptrend that we saw during the last days, because I believe that GBP/JPY is pointing south on the bigger picture. The resistance line, that you are showing on your chart, intersects the 61.8% Fibonacci retracement (of the 162.583-146.741 interval) a little above 157, therefore I'm expecting this area to act as a strong resistance.

.

Hi Izumi

Frankly Speaking I See Daily Chart Very less mean, But I View On it when I am making some Trade To Confume is any Crosses or Some Extra Indicator is Gone Against with My Position. Becoz I do Trade as Conform My Position As I do in My Thoughts And then Trade!!!

And If I am Talking about Gbp/jpy It is beautiful Currency!!

And just have a Look about The Weekly chart It showing the Bullish Harami Pattern So It would be conclusive Move to go Up!!!
Name: harami.jpg
Views: 210
Size: 3.1 KB

Name: harami.jpg
Views: 210
Size: 3.1 KB

May be this isn't a pure Harami Pattern..But If you Consider The Weekly Chart so in Week there is 6 days of Trading and the candle Go UP AND DOWN!!! We here to make our trade Daily Basis I dont know Many Are Here To Do and Forget there Deal , but I just Trade to Think About MY MM OR RISK M...

And The ALL BLESSES COME FROM GREG HAND OF MY TRADING!!THANK YOU GREG

Mike in Japan · #**762** (**permalink**) 07-21-2009, 12:46 PM

Quote:

Originally Posted by Izumi

I could finally connect back to my Trading Station and I can post a GBP/JPY chart now.

Somebody asked me on Sunday about a possible GBP/JPY trade and I recommended a sell position above 156 with a stoploss at 157.5. My recommendation was against the uptrend that we saw during the last days, because I believe that GBP/JPY is pointing south on the bigger picture. The resistance line, that you are showing on your chart, intersects the 61.8% Fibonacci retracement (of the 162.583-146.741 interval) a little above 157, therefore I'm expecting this area to act as a strong resistance.

I have a waiting short on AUD/USD at 0.8240 that I will keep on long term, because I'm expecting a drop till at least 0.75. Gregory convinced me that 0.81 is too soon to short the pair and Mostly Harmless gave me a good tip about a possible entry point.

I don't know what to say about NZD. I'm not familiar with that currency.

Hi Izumi,

Looks like your chart played out exactly re GBP/JPN

- I have some shorts in play now between 155 and 156, and just wondered what your thoughts are regarding any limits I should put on them? - Where do you see this bottoming out please?..

Many thanks..

Izumi · #**763** (**permalink**) 07-21-2009, 12:47 PM

Quote:

Originally Posted by Xiao

Hi Izumi

Frankly Speaking I See Daily Chart Very less mean, But I View On it when I am making some Trade To Confume is any Crosses or Some Extra Indicator is Gone Against with My Position. Becoz I do Trade as Conform My Position As I do in My Thoughts And then Trade!!!

And If I am Talking about Gbp/jpy It is beautiful Currency!!

And just have a Look about The Weekly chart It showing the Bullish Harami Pattern So It would be conclusive Move to go Up!!!
Attachment 33942

May be this isn't a pure Harami Pattern..But If you Consider The Weekly Chart so in Week there is 6 days of Trading and the candle Go UP AND DOWN!!! We here to make our trade Daily Basis I dont know Many Are Here To Do and Forget there Deal , but I just Trade to Think About MY MM OR RISK M...

And The ALL BLESSES COME FROM GREG HAND OF MY TRADING!!THANK YOU GREG

Hi Xiao,

This is a much bigger picture that you are referring to. Yes, you are right! I'm prepared to buy if GBP falls somewhere under 145. I can't say now exactly when I will buy, but it must go down a lot before I buy it. In the meantime, shorting from above 156 is profitable, as you see. You could have kept your position longer.

Next month will be my last month of trading, therefore I'm interested in price action based on a 6 weeks timeframe.

Izumi · #**764** (**permalink**) 07-21-2009, 01:20 PM

Quote:

Originally Posted by Mike in Japan

Hi Izumi,

Looks like your chart played out exactly re GBP/JPN

- I have some shorts in play now between 155 and 156, and just wondered what your thoughts are regarding any limits I should put on them? - Where do you see this bottoming out please?..

Many thanks..

I think that it almost bottomed, for today. If you want to keep your position longer, then you can try 150, depending on your risk/award settings . On my chart you can see the dotted line of the limit I placed (under 145.86). If you plan a much longer trade, you can try it too. Anything can happen till 145.86, even a pullback to 157. Friday will be an interesting day for GBP!!

Please don't take any risks based on what I'm saying, because my field is Business/Economics, not trading. Take the final decision by yourself.

Xiao · #**765** (**permalink**) 07-21-2009, 01:40 PM

Quote:

Originally Posted by Xiao

And Also Just View on the 4 hour Chart..

Attachment 33928

Hi Greg

for some Correction I just Had Two possition becoz I just want to Enter and Close my Deal As my Satisfaction!!

And Greg Do you have any Good Opinion about Gbp/jpy Or Eur/jpy.

have a look Hourly Chart Of gbp/jpy

Grey line = Sold

Red line = Stop

Blue line = Close

thank