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

  • #32,661
  • Sep 26, 2007 12:48pm Sep 26, 2007 12:48pm
Quoting imransait
M2B, with the rate this is falling, 230 may be reached before NY Closes
I said earlier today that this might be the last time we come to the upper TL, hence I'm saying good-bye to 233 LOL
Trade what you see, not what you think.
  • #32,662
  • Sep 26, 2007 12:48pm Sep 26, 2007 12:48pm
Quoting karmostaji
I would like to say 'Good-bye' to 233 because I think we won't see it for quiet a while, just my opinion.
Yes, Karmo, we may come back and retest upto 232 max, its down from here on...we will break the bottom trendline by tomm or max by friday convincingly.
  • #32,663
  • Sep 26, 2007 12:48pm Sep 26, 2007 12:48pm
This is for my friend Zoran.
Regards
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  • #32,664
  • Sep 26, 2007 12:50pm Sep 26, 2007 12:50pm
I closed most of my shorts for retracement and to see what the dow does starting at 2 eastern time.
  • #32,665
  • Sep 26, 2007 12:51pm Sep 26, 2007 12:51pm
There is a Fib at 232.42 ... looks like we may have a temporary support there....
  • #32,666
  • Sep 26, 2007 12:51pm Sep 26, 2007 12:51pm
Quoting my2buoys
You're right! Thanks for catching that PC. It has been corrected.

M2B
That was a nice bounce up off of the 4HR 5sma @ 232.32 Anyone take
some profit and get back in again 20 pips higher?

Got to respect those ma's.
  • #32,667
  • Sep 26, 2007 12:52pm Sep 26, 2007 12:52pm
Quoting pipped oFF
M2B at this point it seems like it would take another rate cut in order for us to break this channel. Technically we aren't even near the end of this pennant so i don't see a "real" breakout happening.
Perhaps. But remember, price can break out of a pennant/wedge at any point. It doesn't have to reach the apex before something happens. I don't have time or space to explain it here but Peter Bain has some great info on wedge breakouts. Just google his name. I don't want to post his website here and cause a conflict of interest.

M2B
  • #32,668
  • Sep 26, 2007 12:54pm Sep 26, 2007 12:54pm
small retracement to 232.75 area before shooting down again
Trade what you see, not what you think.
  • #32,669
  • Sep 26, 2007 12:54pm Sep 26, 2007 12:54pm
Quoting BlueTrance
What do you think?
Two nice examples of APFs - be interesting to see how they pan out over the next few days.....
Trading Levels with WRBs
  • #32,670
  • Sep 26, 2007 12:56pm Sep 26, 2007 12:56pm
Quoting fourxtrader
That was a nice bounce up off of the 4HR 5sma @ 232.32 Anyone take
some profit and get back in again 20 pips higher?

Got to respect those ma's.
I locked in my profit. The dow is at its post-opening low, so I expect it to move up and move GJ up, possibly to the channel top again.

If the dow continues down, I jump back in.
  • #32,671
  • Sep 26, 2007 12:57pm Sep 26, 2007 12:57pm
Quoting karmostaji
small retracement to 232.75 area before shooting down again
I guess not, bears are getting stronger
Trade what you see, not what you think.
  • #32,672
  • Sep 26, 2007 12:58pm Sep 26, 2007 12:58pm
60 EMA provding support at 15m chart and 200 ema at 5 min chart..once it goes below..next stop is 231.80
  • #32,673
  • Sep 26, 2007 12:59pm Sep 26, 2007 12:59pm
Quoting my2buoys
You're right! Thanks for catching that PC. It has been corrected.

M2B
I've been using the pattern of ups and downs, and the pattern of lower highs and higher lows, as a general guide since late last week. Gives a nice "large picture" overview of what's going on.

Right now price is probably following another repeating pattern, and that's doing a 50% (roughly) retrace from the recent climb. All this great action, with plenty of pips! Then it will start ranging for awhile, and everyone will claim they're bored and the beast is dead. Then it will proceed south to meet support near the bottom of the trend line.

Of course, you never know for sure what to expect. This pattern can't hold up forever. But I've enjoyed it so far.

Ron
  • #32,674
  • Sep 26, 2007 1:00pm Sep 26, 2007 1:00pm
We will head down to test the 229.75 area again from a few days ago imo...
  • #32,675
  • Sep 26, 2007 1:00pm Sep 26, 2007 1:00pm
Karm or Markam, if one of you guys has Aus's new e-mail you might want to alert him since his main system is close to setting up. I don't have his new e-mail. I don't want him getting upset because no one notified him of a potential set up. Thanks.

M2B
  • #32,676
  • Sep 26, 2007 1:03pm Sep 26, 2007 1:03pm
Quoting karmostaji
I guess not, bears are getting stronger
It looks like it might bounce a bit now, maybe only to the 15M 5SMA. Watcha' think, Bro.?

M2B
  • #32,677
  • Sep 26, 2007 1:03pm Sep 26, 2007 1:03pm
Quoting my2buoys
Karm or Markam, if one of you guys has Aus's new e-mail you might want to alert him since his main system is close to setting up. I don't have his new e-mail. I don't want him getting upset because no one notified him of a potential set up. Thanks.

M2B
on his 15m strategy? coz if you're talking about 4hr/1hr then it's not coz 4hr QQE is crossed upwards
Trade what you see, not what you think.
  • #32,678
  • Sep 26, 2007 1:03pm Sep 26, 2007 1:03pm
Currently, "bear" pressure is intense. Additionally, 4HR wedge, RSI, and Stoch all pointing lower.

Good 15mn signal (price bouncing at 50ema) Might see small retrace to 15 mn 5sma (232.70)

Overall, looks to be a good opportunity for short to lower 4HR TL

IMO
  • #32,679
  • Edited 1:23pm Sep 26, 2007 1:04pm | Edited 1:23pm
Quoting karmostaji
I would like to say 'Good-bye' to 233 because I think we won't see it for quiet a while, just my opinion.
Karmostaji.... hailing from Dubai... I imagine English is not your first language
yet you and others write grammatically better English than many of us who
claim it as our native tongue... admittedly some of us Yanks destroy the
Queen's form of diction as well... and do so out of historic rebellion. LOL

I only hope it isn't QUIET for a while... and fully understand your meaning as
quite a while before we happen to visit the ~233.30 TL.

I continually stand amazed at the respect GJ and currencies have for such
key indicators.

spellcheckinginadumpster
  • #32,680
  • Sep 26, 2007 1:05pm Sep 26, 2007 1:05pm
Quoting my2buoys
It looks like it might bounce a bit now, maybe only to the 15M 5SMA. Watcha' think, Bro.?

M2B
we are at 50ema 15m, we 'might' consolidate a little here and touch some 5sma on different TF's, or if this bear is too strong.. it will go without any retracements lol
Trade what you see, not what you think.
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