I expect the GJ pair to go even lower and test 17/03/08 low of 192.60 technically. The monthly chart shows a clear picture of an overhang formation like waterfalls ... lol. A very good advantage for the bears, over longterm. Besides, the target for years to come would be to test 148.5 levels. But, that would take years!. and is very obvious from the chart that it`s going to happen and also the fact that there`s surely going to be a rate hike by BOJ and rate cuts by BOE.
Hi,
I ask you to add your name to my buddy list.
I wish to have your help in a many case from now.
First, Gbp/Jpy please suggest me how can I do if I believe your forecast. How big of fund I must put to my account , my needs is 1 pip = $10 . If from now Gbp/Jpy is at 203.56 and I prefer profit at only this year end. Please advise.
Regards,
piakcm54 Wrote:Hi,
I ask you to add your name to my buddy list.
I wish to have your help in a many case from now.
First, Gbp/Jpy please suggest me how can I do if I believe your forecast. How big of fund I must put to my account , my needs is 1 pip = $10 . If from now Gbp/Jpy is at 203.56 and I prefer profit at only this year end. Please advise.
Regards,
Well, you might wait for some time and go short, when GbpUsd starts continuing it`s downfall. Until then, it`s better to remain on the safe side. But the decline of GBPJPY in the near future, is overwhelmingly confirmed. Well, if you are trading with a $10/pip, then you must be advised that you have atleast $10,000 in your trading account to escape margin calls which are easy as long as this pair is concerned. the pair might travel back to 205-206 levels, later, next month in the name of retrace. So, you must be ready to face all that. If you are planning over long term trades, i would suggest you to go slow and steady way, by shorting 1 lot when you see the price shooting a high every time. so, if the price moves up and down for 10 times, you have distributed your risk. I`m not sure how your plans are, since you have to take some decisions as some things are personal.
Well, today`s candle seems special since the open and close prices are so close for a pair that has high spread and volatility. The candle says that there are as many buyers as there are sellers for the day. But the sellers, however outweigh the buyers by about 5 pips. So, you might consider a 49:51 probability for the pair to be bullish or bearish in the comming week. I suggest GBPJPY traders to watch over GBPUSD, as this has been causing some major changes in the pair for the past few days, from my view point. Also look for USDJPY changes. But i expect GU has more impact than UJ for GJ. Anything can happen!.
Very very thanks for your best suggestion.
My plan is I am look down at 197 for next 1 or 2 weeks , so I willing to place short 1 lot on every 100 pips and will put trailing stop 50 points every lot. Have anything else I should do more.
I have one doubt to ask you a little bit. I like to ask that if GU up/down 10 pips and UJ stable or GU stable and UJ up/down 10 pips which case make GJ up/down rapidly.
Someone forecast that before end of this year GJ will move down to 16x.xx , do you agree with this forecast? If you agree my plan will continuing to so.
piakcm54 Wrote:Someone forecast that before end of this year GJ will move down to 16x.xx , do you agree with this forecast? If you agree my plan will continuing to so.
I think that's quite possible. The GBP has been getting a bashing lately. It hinges on Japan raising rates a bit though and we know how reluctant they are for that. Raising rates would kill off some of the carry trade which sent gbp/jpy soaring in the first place.
I was expecting a falling trend just when i saw 2 bearish weeks, emerging out. The place where i have marked with a red circle is where i got the doubt. Then i immediately turned on the D1 and H4 charts, to see a lot of inverted candles!. Though the pair bounced back to an extent, i knew that it`s going to get a dip. There was a steeper fall than the rise, which could mean that the bears are more hungry than the bulls!.
I feel very happy from all of you FxLoser, RebateFX.
Your idea and your suggestion give me more confident to trade.
Another one question, Can you comment me about hedging. And have you a best way to
make profit from hedging?
piakcm54 Wrote:I feel very happy from all of you FxLoser, RebateFX.
Your idea and your suggestion give me more confident to trade.
Another one question, Can you comment me about hedging. And have you a best way to
make profit from hedging?
well, lol, not yet. But you need more money than you might want to invest, if you want returns from hedging. If you invest about a 50 to 100k, you might expect a fair ROI. Most strategies include the co-relation between 2 pairs like for example, comparing EURJPY and GBPJPY. Buying one pair and selling the other... i`m not sure, but heard of such systems...
piakcm54 Wrote:I feel very happy from all of you FxLoser, RebateFX.
Your idea and your suggestion give me more confident to trade.
Another one question, Can you comment me about hedging. And have you a best way to
make profit from hedging?
Do you mean hedging and earning from the interest? It's not easy to do, and I never learned because I'm a Muslim and interest is forbidden to me
