Thread: GBP and JPY Pairs H1 2013

Nothing is clear right now, its more of a wait and watch situation so far. 1.3428 is an importat level to watch, if we break this the next support will come at 1.3184 …

Originally Posted by asherewt

I’ve finally booked the profits for my EURUSD Short Trades. If I’m booking my profits, its by no means a suggestion that the Trend is over … it may be very much alive and we may even see 1.3184 as the possible Low. However for me, this was a decent profit Target area and I needed the money so that I can re-invest it in some other trades …

I once again urge everyone to start looking at the Ichimoku and its MTF (multiple time-frame) Analysis approach, trust me you will have a hard time finding anything better than this ...

Have a great weekend to everyone and Trade Smart …

Hello!

Is there a declining triangle developing on the eur/usd 4hr chart?

The chart is making lower highs but seems unable to break the 1.3450 level.

Originally Posted by alican2000

Hi guys ! I have open position for this weekend and I was 2 short trading from 1.3500 1.3510 in eur/dolar.I am still holding my position but I am afraid about on sunday morning.Can anybody give me an advice what will happen ? are you waiting will it see 1.3740 ? because I will loose all of my money if it see 1.3740.I made a mistake about short and I couldn't turn back.I lost my strategy thats way I am waiting an advice with the reason.I lost half of my money and I am confused should I close my position or not !!! because I can not see sunday news.Thanks I am waiting for your opinions.

It's really unclear right now, however it does appear that we may get a dip to the 1.3540 level (61.8% Fibo of 1.3450>1.3683 & Monday's Daily S1), even if this is the start of a larger correction up.

It maybe a good idea to take one of your postions off at that level and then watch 1.35 (78.6 Fibo of same range & psych level) for support to decide on the second lot. Good luck.

With the huge sell off in the Euro i think we might see some more profit taking over the next few days, so we may then be presented with another selling opportunity. Trying to predict where me might see some big selling interest,the major downward trendline may be hit around the 1.3720 area over the next few days, if this gets taken out the 1.4090 area is the next one i'd look at as this would be the .38 Fib off the November 1.5143 high to recent low and the 50 day SMA would be close enough to this too to act as further resistance. Long term short target 1.2715 which would be the 261.8 from the November high to 22nd December low sell-off. The 161.8 area of 1.3650 certainly attracted the markets interest.
On the other hand, an even simpler view would be the bounce last week from 1.3440 or so may be a solid bounce at the .61 Fib of March '09 low to high and we may go on to test last years high,time will tell.
Any thoughts?

Hey guys ! I am short with eur/usd from 1.3500 but something is going wrong with it! what is your opinion about the currency.I lost my diciplin.I need advice should I wait or not I will all if it come to 1.3740. I am waiting for your opinion what will happen in these days ? or will it see 1.3700 with the reason.Thank you for your opinion answers.

Steve thank you so much I am just learning new this forum I didn't see your answer thanks for your opinion.I am thinking about that to close my one position off and waiting to watch !

Originally Posted by alican2000

Hey guys ! I am short with eur/usd from 1.3500 but something is going wrong with it! what is your opinion about the currency.I lost my diciplin.I need advice should I wait or not I will all if it come to 1.3740. I am waiting for your opinion what will happen in these days ? or will it see 1.3700 with the reason.Thank you for your opinion answers.

My advice to you (and I do not know how much leverage you have in your account) is to close the shorts positions (both) why? because the market is slowly showing support (eur/gbp is moving since last week) eur/aud (did not break the 150 mark) eur/jpy which usually an indication is not falling, because any news about greece (positive news) will rock this thing up 200-300 pips (it will be opportunity to short once it gets to 142-144) and it can get there.

I am waiting to short too, but not here, the market showed support at 13450 twice last week, and it is at over sold territory at this level, very dangerous to short and or stay short here.

Sorry, to be negative...but it is the wrong trade here...if it does not take 13450 it will rock up. too many shorts...juicy to take it up a little and squeeze them. if you can survive the bounce, stay short, but no one knows how far it will go.

Originally Posted by Padawan

Prediction from beyond the grave. Turns out I'm a much more successful trader when I don't pay so much attention to the forums. Or at least my only real slump in the past 2 years was when I was watching it religiously. It seems I second guess myself too much when I read the opinion of others.

91 is where you will short? or .9240?

I may be wrong but on longer term basis, I'm more inclinded towards a Bullish Bias for EURGBP. However few things needs to happen first:

1. Chikou Span should break the Kijun Sen Resistance
2. 9033 should be broken with a good confidence to confirm the Bullish Kumo Breakout on Daily and Weekly TF
3. 8877 needs to take responsibility and act as a Strong Kumo Support

If allt his happens then the TP can go as high as 9277 (short term) and 0.9766 (long term) ...

Originally Posted by adam6655nyc

91 is where you will short? or .9240?

Originally Posted by asherewt

I may be wrong but on longer term basis, I'm more inclinded towards a Bullish Bias for EURGBP. However few things needs to happen first:

1. Chikou Span should break the Kijun Sen Resistance
2. 9033 should be broken with a good confidence to confirm the Bullish Kumo Breakout on Daily and Weekly TF
3. 8877 needs to take responsibility and act as a Strong Kumo Support

If allt his happens then the TP can go as high as 9277 (short term) and 0.9766 (long term) ...

8845 will be the support, 9050, then 9120/9140 will be resistance, then 9220, 9360, 9400 (above that will test the top) but tough to survive the 9400 mark. but going that high would be bullish as you mention. (200-700 pips from here)

Originally Posted by adam6655nyc

8845 will be the support, 9050, then 9120/9140 will be resistance, then 9220, 9360, 9400 (above that will test the top) but tough to survive the 9400 mark. but going that high would be bullish as you mention. (200-700 pips from here)

Sorry to be such a newb... I have been trying to work out what your numbers represent, where does 9220 come from and what does that actually mean on the chart as the price is 1.36259 now how can I work out what levels you are mentioning.

Thanks for the help I hope I won't be such a newb for long

Originally Posted by blackduke77

Sorry to be such a newb... I have been trying to work out what your numbers represent, where does 9220 come from and what does that actually mean on the chart as the price is 1.36259 now how can I work out what levels you are mentioning.

Thanks for the help I hope I won't be such a newb for long

That is eur/gbp not eur/usd...sorry I should have mentioned that.

Originally Posted by adam6655nyc

That is eur/gbp not eur/usd...sorry I should have mentioned that.

Thanks Adam, still does nto makes sense as that is at 1.5155, would you mind explaining it if poss. if you don't have time I will find out later when I start my course

Thanks

Originally Posted by blackduke77

Thanks Adam, still does nto makes sense as that is at 1.5155, would you mind explaining it if poss. if you don't have time I will find out later when I start my course

Thanks

It is EUR/GBP NOT gbp/USD...

Originally Posted by adam6655nyc

It is EUR/GBP NOT gbp/USD...

lol,.... thanks