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

  • #40,521
  • Oct 16, 2007 11:17am Oct 16, 2007 11:17am
Quoting Zoran
How can it be a perfect head and shoulders when the right should has not even fully formed? The perfect H&S will also need to break the NL and I have my doubts it will.
no neckline break = no good
  • #40,522
  • Oct 16, 2007 11:18am Oct 16, 2007 11:18am
Quoting markam
I don't. The US stock market is not going to rebound today. The yen is continuing to strengthen against the dollar, so I would expect another down day with the Nikkei.

I am fairly confident that GJ will drop at least to the 235.5 area before the next European session.
Ohh .. Markam .. Markam .. you are born to doom or what .. sorry, can't help

j/k
  • #40,523
  • Oct 16, 2007 11:20am Oct 16, 2007 11:20am
Quoting zoheir
no neckline break = no good
zoheir, nice to see you back. stay awhile.
  • #40,524
  • Oct 16, 2007 11:20am Oct 16, 2007 11:20am
Quoting my2buoys
Agreed. Things are too skittish to enter short around the 237 area. 4H 5SMA on my chart is now around 237.75 and 4H 50EMA is still around 238.25. The 4H Momentum on my chart has turned slightly bullish. I know 237.75 was hit earlier twice but I was looking for 238.30 at that time. Would like to see either of these two prices to re-enter short.

M2B
I see a H&S on the 4hr and the return to 237.75 was a retest of the broken NL. Both times it failed to stay above so that could indicate 234.5 is the next target.
  • #40,525
  • Oct 16, 2007 11:23am Oct 16, 2007 11:23am
Quoting zoheir
no neckline break = no good
Exactly.
  • #40,526
  • Oct 16, 2007 11:23am Oct 16, 2007 11:23am
silly 5m chart.
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  • #40,527
  • Oct 16, 2007 11:25am Oct 16, 2007 11:25am
Quoting karmostaji
I don't think that was enough retracement for another push down, if DOW doesn't selloff/crash, this pair is going to remain to act funny and then retrace maybe.
You know what's gonna' happen. It will finally reach a good retrace point at 4PM EST, the time the DOW closes, and then it will meander around for another 4 to 8 hours before plunging down again. I hate entering this market at the DOW close because you just know it's not going to do anything until Asia opens, and sometimes Asia doesn't want to do anything with it, so it ends up on London's shoulders. Ahhhh. The cycle of the spot Forex market.

M2B
  • #40,528
  • Oct 16, 2007 11:26am Oct 16, 2007 11:26am
Quoting mktjong
Ohh .. Markam .. Markam .. you are born to doom or what .. sorry, can't help

j/k
Naw. If I was in doom mode right now, I would be fondling my gold and planning the party for GJ hitting 210.

I expect to continue the ranging movement until the next fed meeting. I will just ride the down waves and silently swear at the up waves until then.
  • #40,529
  • Oct 16, 2007 11:27am Oct 16, 2007 11:27am
Quoting bmwboyee
zoheir, nice to see you back. stay awhile.
thanks mate, will sure stay
  • #40,530
  • Oct 16, 2007 11:27am Oct 16, 2007 11:27am
Quoting my2buoys
You know what's gonna' happen. It will finally reach a good retrace point at 4PM EST, the time the DOW closes, and then it will meander around for another 4 to 8 hours before plunging down again. I hate entering this market at the DOW close because you just know it's not going to do anything until Asia opens, and sometimes Asia doesn't want to do anything with it, so it ends up on London's shoulders. Ahhhh. The cycle of the spot Forex market.

M2B
lol, and we all know. about 75% of the time, if the dow closes red, gbp/jpy will follow suit over night. I do not like having open positions going against how the DOW closes. JMO.
  • #40,531
  • Oct 16, 2007 11:28am Oct 16, 2007 11:28am
Quoting my2buoys
You know what's gonna' happen. It will finally reach a good retrace point at 4PM EST, the time the DOW closes, and then it will meander around for another 4 to 8 hours before plunging down again. I hate entering this market at the DOW close because you just know it's not going to do anything until Asia opens, and sometimes Asia doesn't want to do anything with it, so it ends up on London's shoulders. Ahhhh. The cycle of the spot Forex market.

M2B
lol very true.....but admit it ..... we love it
  • #40,532
  • Oct 16, 2007 11:29am Oct 16, 2007 11:29am
Quoting Zoran
I see a H&S on the 4hr and the return to 237.75 was a retest of the broken NL. Both times it failed to stay above so that could indicate 234.5 is the next target.
HI MY BUDD
CAN YOU POST YOUR CHART THAT INDICATE H/S PATTERN??
JUST WANT TO LEARN.
TKS
  • #40,533
  • Oct 16, 2007 11:30am Oct 16, 2007 11:30am
Quoting my2buoys
You know what's gonna' happen. It will finally reach a good retrace point at 4PM EST, the time the DOW closes, and then it will meander around for another 4 to 8 hours before plunging down again. I hate entering this market at the DOW close because you just know it's not going to do anything until Asia opens, and sometimes Asia doesn't want to do anything with it, so it ends up on London's shoulders. Ahhhh. The cycle of the spot Forex market.

M2B
That's exactly what's running through my head keep it up bro
Trade what you see, not what you think.
  • #40,534
  • Oct 16, 2007 11:34am Oct 16, 2007 11:34am
as the chairman of FED i see a great short coming soon

mid american daily pivot support is making me angry though...
  • #40,535
  • Oct 16, 2007 11:37am Oct 16, 2007 11:37am
Quoting Zoran
How can it be a perfect head and shoulders when the right should has not even fully formed? The perfect H&S will also need to break the NL and I have my doubts it will.
Yeah..I was thinking the same thing Zor but didnt wanna cause a rukus..lol
  • #40,536
  • Oct 16, 2007 11:37am Oct 16, 2007 11:37am
Quoting Zoran
I see a H&S on the 4hr and the return to 237.75 was a retest of the broken NL. Both times it failed to stay above so that could indicate 234.5 is the next target.
True, Bro. But remember, this thing likes to touch that 5SMA every few candles, and the 4H has already gone two candles (on my chart) with no touches. I think one of the the next 4H candles has to go and touch that 5SMA wherever it might be at the time of the touch. If it happens within this candle it would be around 237.75, which is also the backside of the broken neckline (again), as you pointed out. I do think, as I posted earlier, that this thing is gonna' go down another few hundred pips, to 235.50, and possibly as low as 233.50. But as Karmo pointed out, for this to happen it has to go back up a bit and collect some more sellers. Most TF's are in or near oversold status right now and need to breathe a bit anyway.

M2B
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  • #40,537
  • Oct 16, 2007 11:40am Oct 16, 2007 11:40am
Quoting Bernanke_Sr
as the chairman of FED i see a great short coming soon

mid american daily pivot support is making me angry though...
In light of your 'position', just curious, are you lawfully participate in any kinds of trading since you know most of data if not all before hand http://www.forexfactory.com/images/icons/icon10.gif http://www.forexfactory.com/images/icons/icon10.gif
  • #40,538
  • Oct 16, 2007 11:41am Oct 16, 2007 11:41am
Quoting shahroodi
HI MY BUDD
CAN YOU POST YOUR CHART THAT INDICATE H/S PATTERN??
JUST WANT TO LEARN.
TKS
The right shoulder is higher than the head as the NL is on an ascending angle.
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  • #40,539
  • Oct 16, 2007 11:47am Oct 16, 2007 11:47am
And JPY appreciating, it's not on the right track I'd say, (Some payments are being done in JPY but Japan is heavy user but no resource of theirs)

Please guys who says this pair will go down provide some reasoning? Zoran's graph shows way deep target, but why would it fall sooo deep? Isn't this fall is taking some risk off their positions before G7 meeting? Brits has good resource, and big guys were predicting 2.11 USD per GBP in long term (heard on Bloomberg over the weekend)

Made a good pips today with the fall, but don't see a reason to fall further than the Daily uptrend line (on current bar around 236.62)
  • #40,540
  • Oct 16, 2007 11:47am Oct 16, 2007 11:47am
Quoting mktjong
In light of your 'position', just curious, are you lawfully participate in any kinds of trading since you know most of data if not all before hand http://www.forexfactory.com/images/icons/icon10.gif http://www.forexfactory.com/images/icons/icon10.gif

yeahh I am... It is always good to know what numbers will become so i take my position accordingly.

I also adore speculating..

I hope i can still be the chairman of FED in the coming years.

So dont vote for Hillary cause she would never make me the chairman
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