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

  • #53,081
  • Dec 4, 2007 7:27am Dec 4, 2007 7:27am
Quoting karmostaji
We have also just hit a support level @ 225.90 as you can see

http://img510.imageshack.us/img510/2955/gjny7.gif
can i buy now? if so how many lots.

thanks for your help


TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,082
  • Dec 4, 2007 7:28am Dec 4, 2007 7:28am
Quoting Srikanth
There is a reason why i'm asking you guyz to reply here is..i got a PM from a newbie today..

"hi srikanth
i'm a beginner, and i've been reading in this thread for more than 2 months now..english is not my first language and some times i'm asking questions and some of them make fun of me.."

Hope you guyz understand what i'm trying to say
I always answer questions and help noobs and others, point me to this question and I'll write an essay.
Trade what you see, not what you think.
  • #53,083
  • Dec 4, 2007 7:28am Dec 4, 2007 7:28am
Quoting karmostaji
A newbie shouldn't ask where the pair is heading, but they should rather learn how to analyze the chart themselves.

This thread is to learn and not a service signal.
That is so true!!!!
  • #53,084
  • Dec 4, 2007 7:30am Dec 4, 2007 7:30am
Looking at the daily chart (price vs. time) its a good chance that price could reach/retest back to 229.15/20 in the next 2-3 days.

After that we may see GJ chop its way above 229.00 resistance and reach as high as 232.70/90's within the next week or so before retracing back 200-300 pips back below 229.00 resistance. . .

I know this is very specific but I'm trying out a new analysis, trying to determine where price could be based on higher TF charts at a give time (+/- 1 or 2 days). This analysis is based on price vs. time correlation.

I know this all depends on market conditions, news releases, etc, so rather than respond to this post lets see how it pans out and refer back to this post at the end of this week and next week. . .

Thanks in advance. . .

Good luck in your trading. . .
  • #53,085
  • Dec 4, 2007 7:32am Dec 4, 2007 7:32am
Nice work Q. Thanks for sharing your analysis people like you are whats needed in this forum.
  • #53,086
  • Dec 4, 2007 7:33am Dec 4, 2007 7:33am
Quoting karmostaji
IMO we will have a long trade soon, since I've been busy with life.. I'll just wait until the bears get tired (very soon) and then jump on the long trade.

Bullish pattern formed on 1H chart too btw, plus 1H QQE getting close to oversold area.

I'm just saying, trade your own chart.
  • #53,087
  • Dec 4, 2007 7:35am Dec 4, 2007 7:35am
By the way the great BUSH is speaking and thats why the market is heading north
  • #53,088
  • Dec 4, 2007 7:37am Dec 4, 2007 7:37am
I think I'm going to go sideways, with 10 lots.
Patience + Humility + Study = Success
  • #53,089
  • Dec 4, 2007 7:37am Dec 4, 2007 7:37am
that's an excellent analysis by Quecee..

Honestly he is the one who is helping the newbies directly/indirectly in this thread..
  • #53,090
  • Dec 4, 2007 7:41am Dec 4, 2007 7:41am
Quoting Srikanth
one thing for sure tht newbies are hesitate to ask questions in this thread coz of seniors behaviour ( not super seniors )

they are not able to approach you guyz coz you are simply making fun here with them
Hmmmmmmmmmm. I don't know why noobs would be afraid to ask questions in here because there really aren't any seniors left in the thread for them to tick off. Didn't you just read Karmo's post above, or didn't you get it? This used to be an analysis thread. I pop in from time to time to see if anything has changed and mostly all I see is a bunch of babbling. On average, I would estimate that there is one chart posted per page in this thread at this time, and that might be a generous estimate. Posted charts used to be the norm around here. Who cares what anybody thinks? Show me on your chart why you think the way you do and I'll entertain your thought. Otherwise you're just babbling. Like you, Sir. You still think we're gonna hit 230 or 233 today, or whatever sky high limit you postulated? Where is your #$%^&$%@*% analysis? Anybody can throw out numbers. Are you incapable of posting a chart, or are you just incapable of reading a chart? Go ahead and suck up to the super seniors, whoever you purport them to be, but at the end of the day you'll still just be another guesser out there hoping that someone will come along and tell you where to get in and where to get out. I have a five-year-old at home who butters me up the same way whenever he wants me to take him to the Dairy Queen. This ain't the Dairy Queen, Bub. This is Forex. Learn how to read charts and explain your position based upon charts or else go back to your day job and stop wasting all the other noobs time.

M2B

PS- No offense intended toward Karmo, Moneymagnet, and the other established traders who still attempt to help out here from time to time.
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  • #53,091
  • Dec 4, 2007 7:46am Dec 4, 2007 7:46am
Quoting vinesh2
Nice work Q. Thanks for sharing your analysis people like you are whats needed in this forum.


If it pans out I'll share it with the thread once I feel comfortable that I can predict it with a certain degree of accuracy. . .
  • #53,092
  • Dec 4, 2007 7:58am Dec 4, 2007 7:58am
..When M2buoys speaks, all u can do is listen..As they "A Picture is Worth a Thousand Words"
  • #53,093
  • Dec 4, 2007 8:06am Dec 4, 2007 8:06am
Quoting PTB
Looking at 4hr chart...I expect it to drop down to 50% fib at 225.30. ( 221.27/229.33)
Looking at that same chart we could see it test 61.8% fib @ 224.30/50 if support is broken. . .
  • #53,094
  • Dec 4, 2007 8:10am Dec 4, 2007 8:10am
Is this a bullish wedge reversal forming on 15M chart or not? What the other guys think?
Discipline + Patience - Fear - Greed = Success
  • #53,095
  • Dec 4, 2007 8:11am Dec 4, 2007 8:11am
I believe karmo said that the 50% fib is key...and I have found that he is right. This is the second attempt to reach the 50% fib...soooo maybe!
  • #53,096
  • Dec 4, 2007 8:12am Dec 4, 2007 8:12am
Quoting arezab
Is this a bullish wedge reversal forming on 15M chart or not? What the other guys think?
I dont see wedge on the 15. Cant type today.

Edit..I may not be seeing things right tho..lol
  • #53,097
  • Dec 4, 2007 8:19am Dec 4, 2007 8:19am
Quoting PipChick
I dont see wedge on the 15. Cant type today.

Edit..I may not be seeing things right tho..lol
I mean this formation ...
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Discipline + Patience - Fear - Greed = Success
  • #53,098
  • Dec 4, 2007 8:23am Dec 4, 2007 8:23am
Here's a novel idea. I'm going to post a chart with some written analysis to go along with it. This chart could be viewed as showing either a 100% retrace from the last move up or as a double-bottom around the 225.70 area. The 4H Stochastics still show room to move down before becoming OS, so I have also charted the Fibs from the previous larger move up. If price successfully breaches the 225.70 area it should at least reach the 225.30 area, which is the 50 Fib, before turning back up. My latest 4H Momentum, which just updated at 11AM EST, shows strong bullishness. Price has been contained within a 300 pip range from roughly 226 to 229. If the present area holds we will no doubt see price move back up to the top of its present range.

M2B
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  • #53,099
  • Dec 4, 2007 8:24am Dec 4, 2007 8:24am
hey guys that's wut i read in some other thread:

"The Bank of Canada decison to cut interest rates by 0.25% on Tuesday will increase speculation that the Bank of England will also cut rates this week to help contain the risks from a severe credit tightening and this will tend to weaken Sterling slightly in the near term."

so don't u think we're gonna have some bearish run downwards if gj breaks this 225.50 level, as there r chances of weaker sterling?
  • #53,100
  • Dec 4, 2007 8:26am Dec 4, 2007 8:26am
Quoting quecee5
Looking at that same chart we could see it test 61.8% fib @ 224.30/50 if support is broken. . .
Looking @ yet again the same chart, my confirmation 4 a long on the 4hr & 1hr. On the 1hr, expecting a bounce after QQE5 hits the 30 line
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