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Friday, August 28, 2009

GBP/JPY H1 Chart: At Resistance Trendline

GBP/JPY seems to find its support for now at 151.05. The pair has been retrace since and reach the upper trendline which give opportunity to sell again. Stop loss is limited to around 153.29 (current high & 50% retracement). First target is 151.05 and, hopefully, break that support until 146.8x :) See the chart and my previous post ok! Byee..

Wednesday, August 26, 2009

GBP/JPY : Break Below

Using my last chart setup, the pair has broken the trendline in Daily as well as in H4 candles. Below are the screenshots. Nothing change about the target, which still around the next support near 38.2% Fibonacci retracement at 145.86. Risk can be limited to yesterday high around 153.55. I think its about time to see a strong trend after sideway since August 17. I certainly hope so :) I'm off from my laptop for an internship interview until euro session I think. Ok, thats all. Happy trading guys!

Daily Chart

H4 Chart

Friday, August 21, 2009

GBP/JPY H1 Chart: Dare to Sell?

The pair touch the resistance trendline and seems like a good opportunity to sell. Target is around previous low with stop loss above the resistance trendline. The pair had broken the support but failed to sustain below it after a better than expected news series on Euro before on European session. Above the resistance would bring retest of 157.36 resistance.

Support & Resistance Indicator

Just want to make sure everyone seen this indicator. It's called "Support & Resistance (barry)" and I really don't know why what 'barry' means..hmm..maybe he is the owner..hmm..
Anyway, can you guess what this indicator can do? It is an indicator that shows.. support anndd.. that's right! it shows resistance too. Now, you might think that I'll give you only one file. Nooo...Instead of one Support & Resistance (Barry) indicator, you can have two. Yes! Two!
How to download the indicators?? I know you guys just can't wait to get these indicators, don't you? Don't you?? All you need to do is click the link below to download the files.


Ok that's all. I think I need to get some sleep. Happy trading guys!

Thursday, August 20, 2009

GBP/JPY H1 Chart: Going Down?

The pair reached the resistance trendline and could go down to the support trendline. 30 EMA also still below 50 EMA. You can also see that the QQE indicator crossed above and below 50 level in this kind of market movement. The range seems to tighten up in H1 chart, which is kind of exiting for me. Why? Because after this we can expect a breakout in either way and hope for a nice movement :) Meanwhile, lets enjoy the sideway shall we..

Tuesday, August 18, 2009

GBP/JPY Daily Chart: Reverse or Extent?

I drew trendlines on GBP/JPY Daily chart just now and got this as a result. I also tried to count the movement from the bottom and added 30 and 50 EMA to visualize the trend. 30 EMA has been above 50 EMA since March and I count 5 significant waves. For now, the pair formed double top with support at current low and 'wave 4' low. The selling point should be below the first support with target at the next support (wave 4 low). Or, buy the pair now with risk below the first support and target the upper channel or even the 161.8 extension of wave 3 and 4 Which one? Buy? Sell?? As for me, I would like to see the pair breaks that support and fall :) Well, lets wait and see! Bye..!