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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #8,701
  • Aug 15, 2007 6:00pm Aug 15, 2007 6:00pm
Quoting Richardj
MA170 on weekly chart is my interim (MEDIUM-TERM) target - currently 211.66.

Scary, certainly - and any newbies, please don't take ANY notice of this, because it's based on very long-term charts, and is emphatically not for you to even consider in your trading... however, it does fit together with my other thoughts - e.g., on GU, which as I've said, I'm expecting a massive drop in.

i agree on the Gu bit
  • #8,702
  • Aug 15, 2007 6:05pm Aug 15, 2007 6:05pm
Auslanco-GBP/JPY Strength Indicator strategy post Number 74
Warning, lack of trading is dangerous to your survival......
  • #8,703
  • Aug 15, 2007 6:10pm Aug 15, 2007 6:10pm
Quoting markam
Oh I am serious. 17 pips profit so far from my screw it analysis.

Didn't you see my mesa analysis a couple of weeks ago. That one was exactly right also
http://farm2.static.flickr.com/1105/...b836b65b55.jpg

Yes, I remember you posting this, Markam! Well done! So not all's doom and gloom, eh?! Have you been short throughout the drop?

What is your target?
  • #8,704
  • Edited 6:15pm Aug 15, 2007 6:12pm | Edited 6:15pm
i think the trend line we used as support has turned into resistence... price isn't getting above it
  • #8,705
  • Aug 15, 2007 6:13pm Aug 15, 2007 6:13pm
Quoting markam
My analysis. I said screw it and clicked the buy button.

23 pips towards my million pip goal.
Did you think we've reached the bottom of your mountain?
  • #8,706
  • Aug 15, 2007 6:16pm Aug 15, 2007 6:16pm
Hopefully we only retrace up to 1H 5SMA.
  • #8,707
  • Aug 15, 2007 6:19pm Aug 15, 2007 6:19pm
32 pips towards my million pip goal!!!!!!
  • #8,708
  • Aug 15, 2007 6:24pm Aug 15, 2007 6:24pm
Quoting Richardj
Did you think we've reached the bottom of your mountain?
The mesa analysis was weeks ago. Here was the chart a couple of hours later. As you can see, the mesa analysis predicts GJ direction perfectly.

http://farm2.static.flickr.com/1407/...b8caede8b3.jpg
  • #8,709
  • Aug 15, 2007 6:25pm Aug 15, 2007 6:25pm
Quoting markam
32 pips towards my million pip goal!!!!!!
Markam,

How do you think about the Asian market open today?
  • #8,710
  • Aug 15, 2007 6:27pm Aug 15, 2007 6:27pm
auslancooooo!!! karmostajiiiii!!!! help! markam is screwing our trades!!!!!!!!


  • #8,711
  • Aug 15, 2007 6:28pm Aug 15, 2007 6:28pm
Quoting trader8686
Markam,

How do you think about the Asian market open today?
I am sure it will be down. And to be serious, I have a stop on my GJ long, so I keep some profit, because I wouldn't be surprised if it started down as soon as the asian market opened.
  • #8,712
  • Aug 15, 2007 6:29pm Aug 15, 2007 6:29pm
Quoting lilmoe
auslancooooo!!! karmostajiiiii!!!! help! markam is screwing our trades!!!!!!!!



This thread is open to all analysis methods, even insane ones.
  • #8,713
  • Aug 15, 2007 6:30pm Aug 15, 2007 6:30pm
Quoting markam
I am sure it will be down. And to be serious, I have a stop on my GJ long, so I keep some profit, because I wouldn't be surprised if it started down as soon as the asian market opened.
Thanks one million pips to you!
  • #8,714
  • Aug 15, 2007 6:31pm Aug 15, 2007 6:31pm
Quoting markam
32 pips towards my million pip goal!!!!!!

Don't be Sorry,

All the time is YOURS!!!
  • #8,715
  • Aug 15, 2007 6:31pm Aug 15, 2007 6:31pm
Quoting markam
This thread is open to all analysis methods, even insane ones.
well it was insane but a dam good call mate
  • #8,716
  • Aug 15, 2007 6:33pm Aug 15, 2007 6:33pm
Quoting lilmoe
do you guys think the bottom of this daily channel is possible?? i mean the rest of the trendlines and channels where broken...

i thought it would be heighly unlikely, but considering the force of this downmovement i think the bottom at about 230.05 is possible...

plz share me your openions..


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lilmoe,

Great eye to pick out this potential channel (we have to say potential until it hits the bottom line and bounces up). Just looking at it does make technical sense though. I remember your post a ways back on another channel you picked out. I believe it was a 1H 250 pip channel. Keep up the good channel work. GBP/JPY respects channels almost religiously, especially channels that run in 250 pip increments. Just in the last couple of weeks we have seen it respect a 250, a 500, and a 1000 pip channel, which it is presently trying to break beneath. If this new channel is fulfilled GBP/JPY could go just beneath 230 for now which many have already speculated would happen. Let's see what happens.

M2B
  • #8,717
  • Aug 15, 2007 6:37pm Aug 15, 2007 6:37pm
Quoting my2buoys
lilmoe,

Great eye to pick out this potential channel (we have to say potential until it hits the bottom line and bounces up). Just looking at it does make technical sense though. I remember your post a ways back on another channel you picked out. I believe it was a 1H 250 pip channel. Keep up the good channel work. GBP/JPY respects channels almost religiously, especially channels that run in 250 pip increments. Just in the last couple of weeks we have seen it respect a 250, a 500, and a 1000 pip channel, which it is presently trying to break beneath. If this new channel is fulfilled GBP/JPY could go just beneath 230 for now which many have already speculated would happen. Let's see what happens.

M2B

at least someone appreciates!!!!

thanks my2buoys! i'm trying my best here... i will try to share the thoughts i think are worth sharing here!
  • #8,718
  • Aug 15, 2007 6:43pm Aug 15, 2007 6:43pm
Guys wait for signs of a reversal. So what if you don't get 500 pips of a 3000 pip move, or what if you jump in long and the thing shoots off short like a race horse. Its not worth the risk. Just a warning. Been there done that. With move this large we're going to get a sign that says hey I'm going long. Let the market talk.
  • #8,719
  • Aug 15, 2007 6:47pm Aug 15, 2007 6:47pm
I think GJ should fall (or stay stable - yeah right) until the BOJ meets next week to decide on interest rates. I am sure all this subprime talk has them worried about the dramatic appreciation of the Yen. They might not raise rates.. or if they really want the markets to calm down, they might reduce rates.. this will bring GJ back with a vengeance.. guaranteed.

Let's see what UK retail sales are tomorrow - if they are really terrible - phew.. GJ drop another 100 pips (or more)

Edit - I am not surprised that GJ dropped massively at 10.30am (approx) PST.. that's when all the homebuilder reports came out - really negative reports and increased foreclosure reports - obviously spooked the markets more.. dragging DOW and GJ with it. So keep an eye out on fundamentals, news reports.. as well as tech strategies.
  • #8,720
  • Aug 15, 2007 6:50pm Aug 15, 2007 6:50pm
Quoting HeavensGate
Guys wait for signs of a reversal. So what if you don't get 500 pips of a 3000 pip move, or what if you jump in long and the thing shoots off short like a race horse. Its not worth the risk. Just a warning. Been there done that. With move this large we're going to get a sign that says hey I'm going long. Let the market talk.

agreed
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