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

  • #50,781
  • Nov 18, 2007 4:22pm Nov 18, 2007 4:22pm
Correct me if im wrong but dont we have a bullish entry signal on Aus's 4hr/1hr strat???
  • #50,782
  • Edited 5:08pm Nov 18, 2007 4:46pm | Edited 5:08pm
Quoting gau2902
228.43 already touched...
Bounced off of 227.31 which is 4hr S1, filled the opening gap and now looks to be headed toward 228.73.
Lets see what happens if/when it gets there. . .
  • #50,783
  • Nov 18, 2007 4:58pm Nov 18, 2007 4:58pm
Quoting quecee5
Bounced off of 227.31 which is 4hr S1, filled the opening gap and now looks to be headed toward 228.73.
Lets see what happens when it gets there. . .
Quecee..Hi..Whats up?
Do you still remain bulish on this pair?
I read a lot of threads saying more barish news...But my charts and other readings shows me up potential before ride south...
Pound made a breakout
Work smart not hard
  • #50,784
  • Nov 18, 2007 5:05pm Nov 18, 2007 5:05pm
Quoting sony
Quecee..Hi..Whats up?
Do you still remain bulish on this pair?
I read a lot of threads saying more barish news...But my charts and other readings shows me up potential before ride south...
Pound made a breakout
Sony - I think we'll see a short-term run higher. UJ and GU are both correcting from the down move.

If UJ get through 111.30 restistance then next stop is 112.00 which it may have a tough time breaking. GU could retest 2.0620 which is where the upward trendline was broken on the down move. I don't expect it to go much higher than that but if it breaks it then the next stop is 2.0800's (doubtful but could happen).

That means GJ could reach either 50% fib or 61.8% fib before it reverses. I think well see at least 50% fib in order to get us to a low of 219/220's. . .
  • #50,785
  • Nov 18, 2007 5:09pm Nov 18, 2007 5:09pm
Quoting auslanco
Good morning guys,

Daily Bar Momentum is updated on my new blog

http://auslanco-fx.blogspot.com
For all of you who are saying long... did you even look at this... look at where we are at and the momentum and think carefully
  • #50,786
  • Nov 18, 2007 5:10pm Nov 18, 2007 5:10pm
Quoting quecee5
Sony - I think we'll see a short-term run higher. UJ and GU are both correcting from the down move.

If UJ get through 111.30 restistance then next stop is 112.00 which it may have a tough time breaking. GU could retest 2.0620 which is where the upward trendline was broken on the down move. I don't expect it to go much higher than that but if it breaks it then the next stop is 2.0800's (doubtful but could happen).

That means GJ could reach either 50% fib or 61.8% fib before it reverses. I think well see at least 50% fib in order to get us to a low of 219/220's. . .
Thanks...
Work smart not hard
  • #50,787
  • Nov 18, 2007 5:12pm Nov 18, 2007 5:12pm
Quoting MoForce
For all of you who are saying long... did you even look at this... look at where we are at and the momentum and think carefully
That couldn't be any more clear, now could it?
Patience + Humility + Study = Success
  • #50,788
  • Edited 5:48pm Nov 18, 2007 5:22pm | Edited 5:48pm
Quoting MoForce
For all of you who are saying long... did you even look at this... look at where we are at and the momentum and think carefully
Weekly, daily, 4hr look to be bullish. However, lower TF are showing bearish signs. . .

I guess the question I have is if bearish, where would it go? GJ just fell from 232.39 down to 223.84 (double bottom) which wasn't enough momentum to make new lows with bad news. Wouldn't we have to go higher to generate enough momentum to break 224/223.80's resistance to make a new low????

I think we may see a slight pull back to gain momentum to overcome 5 EMA daily resistance. . . Right now GJ looks to be well supported above 227 at the moment. . .JMHO.

Lets see how this all plays out. . .
  • #50,789
  • Nov 18, 2007 5:30pm Nov 18, 2007 5:30pm
Quoting DutchTrader
That couldn't be any more clear, now could it?
True. Is the glass half full or half empty?
Humble Lifetime Member
  • #50,790
  • Nov 18, 2007 5:30pm Nov 18, 2007 5:30pm
Quoting DutchTrader
That couldn't be any more clear, now could it?
well what Aus was saying goes very well with my chart...I'm expecting a similar high as Aus showed. The yellow trend line G/J is nearing is very strong resistance so don't go long at that point especially without S/L. I'm aiming for the 23.6% level shown and next the bottom yellow trend line right below it.

G/J is also oversold at this point... I think there is enough momentum
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  • #50,791
  • Nov 18, 2007 5:33pm Nov 18, 2007 5:33pm
Quoting Ash
True. Is the glass half full or half empty?
  • #50,792
  • Nov 18, 2007 5:37pm Nov 18, 2007 5:37pm
Quoting MoForce
well what Aus was saying goes very well with my chart...I'm expecting a similar high as Aus showed. The yellow trend line G/J is nearing is very strong resistance so don't go long at that point especially without S/L. I'm aiming for the 23.6% level shown and next the bottom yellow trend line right below it.

G/J is also oversold at this point... I think there is enough momentum
Thxs!
  • #50,793
  • Nov 18, 2007 6:18pm Nov 18, 2007 6:18pm
:surprised.
Work smart not hard
  • #50,794
  • Nov 18, 2007 6:49pm Nov 18, 2007 6:49pm
Just for a consideration:

Autochartist shows, we've a 4H bullish continuous triangle with TP 0.768 to 0.78, as most of you are aware this is the heads up pair for carry trades, so we may have a bullish 4 hours.
Attached Image
  • #50,795
  • Nov 18, 2007 6:54pm Nov 18, 2007 6:54pm
There is a possible gap down after lunch on the nikkei
Boyy,trap money,like bear hunters.
  • #50,796
  • Edited 9:07pm Nov 18, 2007 8:24pm | Edited 9:07pm
Iranian President Mahmoud Ahmadinejad said Sunday that OPEC's members have expressed interest in converting their cash reserves into a currency other than the depreciating U.S. dollar, which he called a "worthless piece of paper."


http://abcnews.go.com/Business/wireStory?id=3883287

This would be really bad for the dollar if more of opec start to jump on board w/ this idea.

Arabs' Dollar Losses Increase Pressure to Sever Pegs (Update1)

By Matthew Brown and Aaron Pan
Nov. 19 (Bloomberg) -- When central bankers in the Middle East say they have no plans to end their fixed exchange rates to the dollar, the currency market hears the opposite.
Merrill Lynch & Co. predicts either the United Arab Emirates or Qatar will cut their dollar peg within half a year. Standard Chartered Plc says the six Gulf Cooperation Council nations need to raise the value of their currencies 20 percent. The difference between the price of the Saudi Arabian riyal and the cost of buying it in a year using forward contracts has widened 10-fold since October as traders bet the kingdom will sever its 21-year-old link to the dollar, according to data compiled by Bloomberg.

``The dollar peg is doomed,'' said Jim Rogers, chairman of New York-based Rogers Holdings and a former partner of hedge fund manager George Soros.

http://www.bloomberg.com/apps/news?p...currency_rates
  • #50,797
  • Nov 18, 2007 9:54pm Nov 18, 2007 9:54pm
Quoting gtt
Just for a consideration:

Autochartist shows, we've a 4H bullish continuous triangle with TP 0.768 to 0.78, as most of you are aware this is the heads up pair for carry trades, so we may have a bullish 4 hours.

gtt:

Well it may turn around this hour, but the last three hours have
been bearish.
  • #50,798
  • Nov 18, 2007 10:00pm Nov 18, 2007 10:00pm
Is it just me or it looks pretty obvious this thing is heading down to at least 226? It could be as low as 224. That's why we have multiple targets. Anywho, I think oanda will grant me my fxmanager acct tomorrow. Then I let everyone see my trades live. It's really easy to gain 5% weekly. Maybe I just have a natural ability to see GJ's movement. Well until then...
  • #50,799
  • Nov 18, 2007 10:06pm Nov 18, 2007 10:06pm
I agree, but I want to see it break 226.84 first. That H&S on weekly can't be ignored.
Quoting Pipsqueak
Is it just me or it looks pretty obvious this thing is heading down to at least 226? It could be as low as 224. That's why we have multiple targets. Anywho, I think oanda will grant me my fxmanager acct tomorrow. Then I let everyone see my trades live. It's really easy to gain 5% weekly. Maybe I just have a natural ability to see GJ's movement. Well until then...
FF journal: Peaks and Troffs
  • #50,800
  • Nov 18, 2007 10:22pm Nov 18, 2007 10:22pm
Quoting bogus
I agree, but I want to see it break 226.84 first. That H&S on weekly can't be ignored.
This is not my typical trade. I make most of profits from scalping shorter time frames. Normally after a big news release and this pair has made a big move, it will almost always follow by some consolidation. As a scalper, I take full advantage of these situations when I know this pair has gone into ranging mode. When you're scalping, ranging is your friend.
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