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

  • #53,421
  • Dec 5, 2007 6:59am Dec 5, 2007 6:59am
Quoting winterwhite
forexnovice:

I use Oanda charts, my daily open was 226.48

Considerable difference isn't it? Even so, as you say
it was still below the 5sma daily close.

However, the 1C Daily momentum was up.
Even if u take that 40 pip difference, price was still below the 5smaC=227.09 And all the 3 momentum were pointing up
  • #53,422
  • Dec 5, 2007 7:08am Dec 5, 2007 7:08am
Time to get your longs, girls and boys
  • #53,423
  • Dec 5, 2007 7:16am Dec 5, 2007 7:16am
Quoting vinesh2
Having a really hard time penetrating 225 even though DOW is up 125pnts

it's the 23.6 fib of the last bear run, that same fibo sent it back 60 pips down like 4 hours ago, watch closely.
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  • #53,424
  • Dec 5, 2007 7:26am Dec 5, 2007 7:26am
According to my broker, a pennant has formed on the GJ hourly chart. A break of this can take us down to 223.65/75 area. If anyone who is familiar with this, confirm it.

Thanks, greatly appreciate it.
  • #53,425
  • Dec 5, 2007 7:28am Dec 5, 2007 7:28am
Thanks for pointing that out Zoheir, well worth noting. I must admit I got caught out today, thought it was going to be bullish for a couple of reasons but hadn't really factored in GBP devaluing so heavily. I'm sure there's a lesson to be learned in there.

Anyway, to the here and now; I'm seeing a possible reversal with a bullish tweezer on the 4H (DLHC) although this bar does not close for another 35 mins. The robots are also telling me so with this bullish Gartley on the 4H which those with the ZUP indicator will have already noticed. Best to wait for a solid signal first though, otherwise it's just guesswork.
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  • #53,426
  • Dec 5, 2007 7:28am Dec 5, 2007 7:28am
Quoting Loadthepips
Appreciate your detailed response. There are a lot of factors for it to move up.
Thanks Q for all your analysis. I find it very helpful.
Another factor today is its "triple interest day" so I'm sure bulls will find a way throughout the day to get price up to at least 38.1% and maybe 50% fib. level from the last move down. . .

You could see price start to climb @ or ar'd 11 a.m. (Fixing), before 12 noon (London packs it in for the day), or before IMM Close 3:00 p.m. all EST. . .

Lets see how this plays out. . .
  • #53,427
  • Dec 5, 2007 7:37am Dec 5, 2007 7:37am
There is a good chance to reach earlier highs of 229's but I cannot back that claim up
  • #53,428
  • Dec 5, 2007 7:42am Dec 5, 2007 7:42am
Quoting vinesh2
There is a good chance to reach earlier highs of 229's but I cannot back that claim up

.......why make it then? Has it advanced the collective welfare of the users of this forum in any way? No.

In future, please refrain from posting such nonsense,

Yours sincerely,


The Forum Police.
  • #53,429
  • Dec 5, 2007 7:51am Dec 5, 2007 7:51am
if you draw a trendline connecting the daily low of Nov 23 and Nov 26, you will see that price has been magnetically attracted to that line all morning, which is good as long as you want price to go up. I'm waiting for a move away from this line to determine how to manage my current long position, which I'm targeting to hit the 50% retrace of the last down move at about 225.50. After that is the trendline that got hit earlier this morning, a retest of that would occur at about 226.75
  • #53,430
  • Dec 5, 2007 7:51am Dec 5, 2007 7:51am
Quoting PipChick
Dow has breached a major resistance in the last five minutes, so it is very possible for the longs to be in play.

Edit..I think once the u/j breaks the 110.70 area it will bring the g/j with it.
Yeah, but GU is is keepin a lid on GJ's move up for now.
However, if GU retraces and UJ contines up I can see an uncoiling through resistance for GJ to get it back above 226/227. For some reason GJ it acting like a magnet to 225. . .
  • #53,431
  • Dec 5, 2007 7:54am Dec 5, 2007 7:54am
Price would probably test the lows again before any bounce up!
  • #53,432
  • Dec 5, 2007 7:57am Dec 5, 2007 7:57am
Quoting quecee5
Yeah, but GU is is keepin a lid on GJ's move up for now.
However, if GU retraces and UJ contines up I can see an uncoiling through resistance for GJ to get it back above 226/227. For some reason GJ it acting like a magnet to 225. . .
Here's what GU is testing now, the red line is a support zone since september, if that falls......longs are in danger .... I could be wrong .... it;s only what I see

GL all
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  • #53,433
  • Dec 5, 2007 8:09am Dec 5, 2007 8:09am
whats the current support? looking at all the TF and it hasn't bounce off any sma/ema that I have (100/5/200)....other then a little bounce of the fib line....thx
  • #53,434
  • Dec 5, 2007 8:14am Dec 5, 2007 8:14am
Quoting vinesh2
There is a good chance to reach earlier highs of 229's but I cannot back that claim up
Actually, I think there's an excellent chance that Dr. Phil and Ben Bernanke are actually the same person, but I have no way of backing that up either.

M2B
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  • #53,435
  • Dec 5, 2007 8:17am Dec 5, 2007 8:17am
Dow and Dax is going up strongly.


Should be good news for the carries.

G/U has started moving back up and if u/j can hold , then we can see g/j much more higher
  • #53,436
  • Dec 5, 2007 8:17am Dec 5, 2007 8:17am
Quoting ramrocket
Here we go...long from 226.01
I got stopped out @ +30 pips. I am starting to really learn Hukunas 50/100/200 MA arsenals. There were confluence of reverse indicators pivot, sma100,R around 227.10 where my trade reversed.

Price punch through 200 then 50 and finally was rejected by 100 and closed just below it - that was the clue. I should have closed it there but I went to sleep...zzzzzz $$$$ lost

Learn,learn,learn and pay atttention.

Anyways, it was a free trade.
  • #53,437
  • Dec 5, 2007 8:23am Dec 5, 2007 8:23am
Quoting my2buoys
Actually, I think there's an excellent chance that Dr. Phil and Ben Bernanke are actually the same person, but I have no way of backing that up either.

M2B
YOUR SICK M2B!!!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,438
  • Dec 5, 2007 8:23am Dec 5, 2007 8:23am
Almost every news item this morning was USD positive (FF has productivity as a red number, but it was good). Yesterday Fed Futures were pricing a 50 basis point cut at 50%! These good news numbers have given the market a moment of pause. Can the Fed continue to cut in the face of such strong data? The Dow is up today so that means traders think it will happen. If the cut were in doubt (in their mind) Dow would have fallen on the good news (crazy reverse thinking!). As long as nothing happens to reverse this cut expectation the Dow should be biased upward thorough Dec.11. They are in "goldilocks" land---solid numbers on the economy and a rate cut in the bag! Beware NFP if it comes in bad---ADP was super! These 2 have been at odds in the past, but not so much latley. All in all, risk for Dow is to the upside through Dec. 11 so, to some extent, GJ risk is also to the upside.
  • #53,439
  • Dec 5, 2007 8:25am Dec 5, 2007 8:25am
Quoting moneymagnet
YOUR SICK M2B!!!
Thanks, bro. Appreciate the compliment.

M2B
  • #53,440
  • Dec 5, 2007 8:30am Dec 5, 2007 8:30am
Very nice positive divergence on the 1 hr macd.
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