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

  • #52,061
  • Nov 28, 2007 7:09pm Nov 28, 2007 7:09pm
this just doesnt want to break lower
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #52,062
  • Nov 28, 2007 7:12pm Nov 28, 2007 7:12pm
Quoting moneymagnet
this just doesnt want to break lower
Appears to have support ar'd 228 for some reason. . .
But I see GU has worked itself lower now if UJ follows then we will break 228 and down to 38% fib level. . .
  • #52,063
  • Nov 28, 2007 7:14pm Nov 28, 2007 7:14pm
Quoting moneymagnet
this just doesnt want to break lower

agreed maybe resistance will become support.... what u think? i closed all my short and tp for now ...can always short again if called for....but the bulls are so strong its ridiculous even on jpy good news didnt really make a dent..... whats the deal today? is there no end in sight?
  • #52,064
  • Nov 28, 2007 7:18pm Nov 28, 2007 7:18pm
Quoting dagoods
agreed maybe resistance will become support.... what u think? i closed all my short and tp for now ...can always short again if called for....but the bulls are so strong its ridiculous even on jpy good news didnt really make a dent..... whats the deal today? is there no end in sight?
I think 228 will break soon enough.
Eventually it will touch a major fib level 38%, 50% or even 68.1%.
Right now it can't go any higher,not enough buyer and indicator are over bought, therefore it has to pick up more buyer at a lower level to break resistance up above so for now its just ranging in a 70 pip spread, well maybe I spoke to soon. . .
  • #52,065
  • Nov 28, 2007 7:23pm Nov 28, 2007 7:23pm
Quoting dagoods
agreed maybe resistance will become support.... what u think? i closed all my short and tp for now ...can always short again if called for....but the bulls are so strong its ridiculous even on jpy good news didnt really make a dent..... whats the deal today? is there no end in sight?
looks like i should have, we shall see
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #52,066
  • Nov 28, 2007 7:31pm Nov 28, 2007 7:31pm
Quoting dagoods
agreed maybe resistance will become support.... what u think? i closed all my short and tp for now ...can always short again if called for....but the bulls are so strong its ridiculous even on jpy good news didnt really make a dent..... whats the deal today? is there no end in sight?

Well done getting out of the trade when it turned against you - I was 80+ a minute ago, just hit my stop at +10 which is irritating.

About the news, positive figures (better than expectations) does not necessarily imply bearishness in the Yen crosses. In fact I'd say the opposite is true. The Yen crosses are a function of the carry trade, and the carry trade thrives in times of economic prosperity, so if news comes out that indicates that all is well after all, risk appetite increases and investors jump back into the carry trade and GBP/JPY goes up. It is also worth noting that the Asian markets are faring well after the gains in the US yesterday, so they may be feeling pretty optimistic right now and taking a punt on the carry. I think most will be expecting a retrace after the big gains yesterday so may look for a better price a little lower down. If no bad news comes in today that effects the carry then I don't expect a huge retrace of 61.8% (I'd love to see 50 though!).
  • #52,067
  • Nov 28, 2007 8:01pm Nov 28, 2007 8:01pm
looks like we got a 15 min bullish strategy, CRAP!!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #52,068
  • Nov 28, 2007 8:25pm Nov 28, 2007 8:25pm
Quoting moneymagnet
looks like we got a 15 min bullish strategy, CRAP!!
No 15 min strategy long yet. The QQE60 is still crossed bearish (no bullish dot). Luckily . . .

  • #52,069
  • Nov 28, 2007 8:27pm Nov 28, 2007 8:27pm
The Nikkei stock market is rallying. 4hr 100sma support has repeatedly held price up. But when the time is ripe, price will cut through it like a hot knife through butter.

http://www.coping.org/growth/patient.htm

http://www.quotationspage.com/subjects/patience/

http://www.youtube.com/watch?v=pEzuC5UoM8g


  • #52,070
  • Nov 28, 2007 8:32pm Nov 28, 2007 8:32pm
What, you mean it'll fall..............like November Rain?

Inserted Video
  • #52,071
  • Nov 28, 2007 8:38pm Nov 28, 2007 8:38pm
Quoting birdt
What, you mean it'll fall..............like November Rain?

http://www.youtube.com/watch?v=n-cBbLz225o
Very nice!

Inserted Video
  • #52,072
  • Nov 28, 2007 8:41pm Nov 28, 2007 8:41pm
Quoting quecee5
I think 228 will break soon enough.
Eventually it will touch a major fib level 38%, 50% or even 68.1%.
Right now it can't go any higher,not enough buyer and indicator are over bought, therefore it has to pick up more buyer at a lower level to break resistance up above so for now its just ranging in a 70 pip spread, well maybe I spoke to soon. . .

thank u queecee your advice is dabombdiggety! we all apreciate it whilst we try to learn and get better in trading and in life.... I think maybe mike was on target calling out the resistance retrace at 229.30 level and taking his short there for retracing trade.... i am thinking of short again since this thing seems unable to break that resistance so far and its been a while.... maybe back to 227.50? any thoughts?
  • #52,073
  • Nov 28, 2007 8:42pm Nov 28, 2007 8:42pm
looking at the chart ,price made that 100 pip spike after touching the weekly trendline at 228.19. However, we have the 38.2 fib from the fall from 241 to 221 at 229.12 which I hope to hold.
  • #52,074
  • Nov 28, 2007 8:42pm Nov 28, 2007 8:42pm
Quoting moneymagnet
looks like i should have, we shall see

hang in there buddy i'm pulling for ya... i still beleive in the resistance ...but then aain what do I know
  • #52,075
  • Nov 28, 2007 8:44pm Nov 28, 2007 8:44pm
Quoting Pips_Cruiser
No 15 min strategy long yet. The QQE60 is still crossed bearish (no bullish dot). Luckily . . .

i had gotten the arrow
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #52,076
  • Nov 28, 2007 8:44pm Nov 28, 2007 8:44pm
Just back in now and seeing that we had a small selloff after the triple interest got out of the way and now we are right back to where we started; testing resistance. I'm still looking for price to move lower in the immediate future.
I dream, therefore I become.
  • #52,077
  • Nov 28, 2007 8:45pm Nov 28, 2007 8:45pm
Quoting moneymagnet
i had gotten the arrow
The arrow is only one part of the strategy, and probably the least important.

Inserted Video
  • #52,078
  • Nov 28, 2007 8:48pm Nov 28, 2007 8:48pm
[quote=Pips_Cruiser;1735865]The Nikkei stock market is rallying. 4hr 100sma support has repeatedly held price up. But when the time is ripe, price will cut through it like a hot knife through butter.

http://www.coping.org/growth/patient.htm

http://www.quotationspage.com/subjects/patience/

http://www.youtube.com/watch?v=pEzuC5UoM8g



i hope so.... i am waiting to jump on that gravy train! the price has not even come close to breaking 229.30 in past 12 hours since it hit 229.31 high this price action would seem to be indicating the bears are coming ... no???
  • #52,079
  • Nov 28, 2007 8:51pm Nov 28, 2007 8:51pm
Do any of you guys ever sleep?????
  • #52,080
  • Nov 28, 2007 8:52pm Nov 28, 2007 8:52pm
[quote=dagoods;1735909]
Quoting Pips_Cruiser
The Nikkei stock market is rallying. 4hr 100sma support has repeatedly held price up. But when the time is ripe, price will cut through it like a hot knife through butter.

http://www.coping.org/growth/patient.htm

http://www.quotationspage.com/subjects/patience/

http://www.youtube.com/watch?v=pEzuC5UoM8g



i hope so.... i am waiting to jump on that gravy train! the price has not even come close to breaking 229.30 in past 12 hours since it hit 229.31 high this price action would seem to be indicating the bears are coming ... no???
That seems very reasonable to me.

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