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

  • #16,121
  • Aug 27, 2007 12:03pm Aug 27, 2007 12:03pm
Quoting brok
Close is the answer but you may want to check the first post of the other thread to get a clear understanding.
Thanks, I will re-read through everything again, sorry for the redundant question!
  • #16,122
  • Aug 27, 2007 12:06pm Aug 27, 2007 12:06pm
My observations lead me that ever since the price got rejected from 250 levels, the pair is in a middle term downtrend... I was expecting the pair to hot 237 before going south, but 234.40 could be the resistance i was waiting for further southern action...
So the short term downtrend might be over... or would go until 237 before we can conclude if the pair will follow the medium term downtrend or continue as an uptrend.

232.50 is my short term target since I am keeping my short positions open.. And depending on that level, i might target 231.90 and perhaps 229.23.
Of course in a close above 234.40, i will target 237 once more.

P.S.
the uptrend line of the 4H graph has been broken down. But we will need few more candle closes to confirm it.
give me my pips back...
  • #16,123
  • Aug 27, 2007 12:07pm Aug 27, 2007 12:07pm
Quoting tywe
Thanks, I will re-read through everything again, sorry for the redundant question!

That is okay... afterall we are all learning this strategy together.. But the basics of the strategy is explained well on the other thread
  • #16,124
  • Aug 27, 2007 12:08pm Aug 27, 2007 12:08pm
Quoting Richardj
I think we will shortly have a big fall in GJ.





1st TP (233.90) from 235.32: Target reached.

2nd TP: 229.50 (> fib confluence + SMA indications).

3rd TP: 227.60 (> fib confluence + SMA indications)

4th TP: 225.70 (> fib confluence)

5th TP: 212.30 (weekly SMAs)
  • #16,125
  • Aug 27, 2007 12:08pm Aug 27, 2007 12:08pm
Quoting my2buoys
Ovidiu,

How did you get your charts to post full size? FF has changed something and I can't get my charts to post that big anymore. People are forced to click on the chart to enlarge it which is more time consuming. Did you adjust something or is it just your charting platform?

M2B
I haven't donne anything else than normal attached the pictures from imageshack.us
  • #16,126
  • Aug 27, 2007 12:10pm Aug 27, 2007 12:10pm
dow nearing positive
  • #16,127
  • Aug 27, 2007 12:15pm Aug 27, 2007 12:15pm
Quoting Richardj
1st TP (233.90) from 235.32: Target reached.

2nd TP: 229.50 (> fib confluence + SMA indications).

3rd TP: 227.60 (> fib confluence + SMA indications)

4th TP: 225.70 (> fib confluence)

5th TP: 212.30 (weekly SMAs)

I still do have Markam's post and the graph in #15623 on my mind
  • #16,128
  • Aug 27, 2007 12:18pm Aug 27, 2007 12:18pm
Quoting markam
When you need a trillion dollars/year of inflow into your country just to support government spending and the trade deficit, you are not fundamentally strong. You are one shock away from currency collapse.

No country in history has ever been able to operate such a distorted currency. We have only been able to because the dollar is the global commodity currency. Because of the governments 35 year mishandling of our economy/currency, this advantage is about to disappear. When it does, watch out.
The question is: Why America can attract so many inflows into the country? It's because it's infrastucture is solid and giving confidence to foreign investors to keep coming in. The 'Subrime issues" is one of the examples, Europe has invested heavily on this. So far, haven't seen any country to lose interest with business in America (Well, maybe only a few countries who are enemies at the moment but secretly I would agree they admire the economy here)
As long as the world economy is growing, America has a part of it, China is definitely catching up soon. If America's economy is going doomed, don't think other parts would do good too.
Well, that's my take, not because I live in US and always say good things about it .. still very optimistics
  • #16,129
  • Aug 27, 2007 12:20pm Aug 27, 2007 12:20pm
Quoting ovidiu
I haven't donne anything else than normal attached the pictures from imageshack.us
Thanks. I'll check out Imageshack.

M2B
  • #16,130
  • Aug 27, 2007 12:39pm Aug 27, 2007 12:39pm
233.53 long
  • #16,131
  • Aug 27, 2007 12:41pm Aug 27, 2007 12:41pm
Quoting brok
I still do have Markam's post and the graph in #15623 on my mind

Sorry - but what is 15623?
  • #16,132
  • Aug 27, 2007 12:46pm Aug 27, 2007 12:46pm
Quoting Richardj
Sorry - but what is 15623?
That's the post # in this thread.
  • #16,133
  • Aug 27, 2007 12:46pm Aug 27, 2007 12:46pm
Quoting Richardj
Sorry - but what is 15623?

Look at page 1042, post number 15623 of this thread.
  • #16,134
  • Aug 27, 2007 12:49pm Aug 27, 2007 12:49pm
It would make sense that yesterday would be the top of the retracement from the big drop (apart from fib indications, which I'm just starting to learn, thanks to Karmo!)

- because, as this daily chart shows, GJ retraced back up to its earlier support line, which is now resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ retracement hitting earlier daily support.JPG Size: 63 KB
  • #16,135
  • Aug 27, 2007 12:51pm Aug 27, 2007 12:51pm
Quoting brok
Look at page 1042, post number 15623 of this thread.

Thanks.
  • #16,136
  • Aug 27, 2007 12:56pm Aug 27, 2007 12:56pm
Quoting 59fender
233.53 long
Most defenitely. Well said. I assume many people here have not yet lost their faith in the August phenomenon of the Japaneese Yen. Do not be scared guys to enter long now, before its too late . The J is going back where it belongs.
  • #16,137
  • Aug 27, 2007 1:02pm Aug 27, 2007 1:02pm
Quoting Richardj
It would make sense that yesterday would be the top of the retracement from the big drop (apart from fib indications, which I'm just starting to learn, thanks to Karmo!)

- because, as this daily chart shows, GJ retraced back up to its earlier support line, which is now resistance.
Actually, I would like to see it the other way on weekly, retracement off 61.8 and 50 Fibo back to close above upward trend line and currently testing the 50 Fibo in its way up again:

Attached Image (click to enlarge)
Click to Enlarge Name: aaa.JPG Size: 158 KB
  • #16,138
  • Aug 27, 2007 1:03pm Aug 27, 2007 1:03pm
Well, my 4H candle just closed almost right on my trendline. So, now it has to make up it's mind. Either it's going down for a clean break, or up to battle the fib confluence at the 231.60 level it hasn't been able to break yet. It's running out of room to breathe now.
Attached Image
  • #16,139
  • Aug 27, 2007 1:04pm Aug 27, 2007 1:04pm
Good ne bro, i saw your post and i was caught by it. We both are on thesame currency pairs. so if you wouldn`t mind, in will like to follow you up in the thread, im a newbie on this particular thread and even in forex trading. so please let share the love of forex trading. what ever you have as chart on GBP/USD you can post it in for me to see...thank one love...take care...

Quoting turn1to100
SOLD at 2.0170 like I said yesterday 40pips easy.
  • #16,140
  • Aug 27, 2007 1:17pm Aug 27, 2007 1:17pm
Current US 10 yr treasuries Notes is at -0.35. It is almost sure this pair is going down further.
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