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

Quoting moneymagnet

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who made that short call again? hope u used good moneymanagement. i am in no position as i am at work but i agree with pipchick or should we call her safechick! made good pips this week and don't want to risk them on risky trades. to all who went long at the bottom, excellent job. i traded the gbp/usd and went short right b4 the announcement and banked the pips. i may not trade again until next week (nah, i probably will)

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Quoting quecee5

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I decided to sit on the sideline as of yesterday for the rest of the week. I've made really good pips this week and won't let greed allow me to risk profits.

I will be studing the market and GJ moves to try to determine which way GJ is ultimately headed in the long run. That will be key in mind how I trade it.
With all the news releases its pretty much a toss up which way GJ is headed. . .

Oh, btw, I did scalp a profit this a.m. on the news release. . . Shorted @ 224.85 and sold @ 224.05 for a quick 80 pips not back for 20 minutes work.

Trade safe and trade wise. . .

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Quoting mijamoto

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i am bullish on GBP/USD. ANYONE WITH ME!

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Quoting moneymagnet

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aus called this move earlier this morning. he analyzed a move to 226-226.19 area then a continuation of the bearish movement. just wanted to remind all. but please trade your plan, things could have changed. i am not in any trades just observing right now

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Quoting moneymagnet

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u da bomb quecee. why dont u just start making trade calls so i dont have to analyze and i can just trade when u do. pretty please

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Quoting ramrocket

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I agree man. In 1H, we also have 200 & 100 to overcome. Price just retreated as it approached the 200 but we are above the pivot point now.

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Quoting Pyramid

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GDP q/q (r) less than Estimation , 0.4% is 0.2% lower than Last month, It means Weaker Yen !!! ? Am I correct or not .... so GJ , Still should have power to go up more and more.!!!!

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Quoting Pyramid

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GDP q/q (r) less than Estimation , 0.4% is 0.2% lower than Last month, It means Weaker Yen !!! ? Am I correct or not .... so GJ , Still should have power to go up more and more.!!!!

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Quoting MMDealer

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Hey quecee,

Nice, i love your work. Bit of a continuation pattern developing on GU at the moment! Im long round the figure so ill look to close that out i think. As you said... a lot of risk at the moment.

GJ looks bearish at the moment. I would like to see a retest of 226.30/35 and then i think shes done on the upside in the short term> Have a look at my charts and see what you think. (trendlines were posted up in a very similar fashion by MM i think? Cheers for ur perspective).

Took a pretty massive hit earlier this week on GJ over the bad data, and cable crash. So chasing profts a little bit. Still managed to squeeze a return of 120% for the month. Hmmm beginners luck?

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Quoting quecee5

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MMDealer,

From a fundamental standpoint I don't see anything that would drive GJ up any further esp. since BOE have cut rates which they might have more in store in the near future due to credit crisis. . . I believe they are in the same situation as the US which trying to put bandaids on this situation which will probably get worst before it gets better. . .

From technical standpoint; 4hr

Stoch look OB at tthis point
MACD under the 0 line, look to be weak going up much further but has room
RSI looks to be stalling but appears to have some room to move up
GJ facing resistance @ 21 EMA and 55 EMA, looksto have failed to get abobe and hold twice at this point. . .
A close below 5 SMA would add to the resistance it has to chop thru to get much higher.
Trend line looks to have room to move a bit higher a break above would still have 55 EMA to get through which is tough without anything driving it then it and the dwonward trend line resistance it has to chop thru

Without significant goos news I'm not sure what would drive it to much higher levels. . .

With GU facing lots of resistance up above @ 2.0350 (I think its a sell on any up movement) consider recent broken trendlines, and UJ facing resistance @ 111.60 and 112.00's I ask thread members (anyone) what would drive GJ up much further. GU is closer to breaking lower support than making in further runs higher. . .

JMHO, mixing fundamental with technicals and price movement trying make sense out of why it woul go up but it keeps coming back to GJ is making lower lows and lower highs since reaching 229.30's. Also, weekly candle is very bearish and momentum are turning over headed south. . .

Sorry for the long winded message but I'm talking myself thru why others see GJ as bullish. .

These are my thoughts please don't trade based on this its merely for discussion purposes. . .

Feedback welcomed

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Quoting quecee5

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MMDealer,

From a fundamental standpoint I don't see anything that would drive GJ up any further esp. since BOE have cut rates which they might have more in store in the near future due to credit crisis. . . I believe they are in the same situation as the US which trying to put bandaids on this situation which will probably get worst before it gets better. . .

From technical standpoint; 4hr

Stoch look OB at tthis point
MACD under the 0 line, look to be weak going up much further but has room
RSI looks to be stalling but appears to have some room to move up
GJ facing resistance @ 21 EMA and 55 EMA, looksto have failed to get abobe and hold twice at this point. . .
A close below 5 SMA would add to the resistance it has to chop thru to get much higher.
Trend line looks to have room to move a bit higher a break above would still have 55 EMA to get through which is tough without anything driving it then it and the dwonward trend line resistance it has to chop thru

Without significant goos news I'm not sure what would drive it to much higher levels. . .

With GU facing lots of resistance up above @ 2.0350 (I think its a sell on any up movement) consider recent broken trendlines, and UJ facing resistance @ 111.60 and 112.00's I ask thread members (anyone) what would drive GJ up much further. GU is closer to breaking lower support than making in further runs higher. . .

JMHO, mixing fundamental with technicals and price movement trying make sense out of why it woul go up but it keeps coming back to GJ is making lower lows and lower highs since reaching 229.30's. Also, weekly candle is very bearish and momentum are turning over headed south. . .

Sorry for the long winded message but I'm talking myself thru why others see GJ as bullish. .

These are my thoughts please don't trade based on this its merely for discussion purposes. . .

Feedback welcomed

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Quoting dagoods

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for anyone interested check it: MySpaceTV Videos: Median Line trading tim morge trendline forex by Antonio a powerful addition to your trading arsenal IMO

it definitely helps me define more precise entries exits etc. as with anything else only as good as the trader using it and experience practicing it but its ez and helpful for me maybe u all would use it to help filter your own systems and make them even better

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Quoting quecee5

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Here's a 4hr chart of what I'm seeing. . .

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Quoting mike w

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I'm not seeing it as bullish either Quecee. We just had the upmove to 226 earlier which created the retrace and now I think we are going to move lower again. We just had a pin on the 4 hour bar right at resistance and so I think that's enough to put me in a short position. Plus the current downtrend helps too.

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Quoting mike w

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well, if your taking them as you see them, that's a hammer on your chart there. That's usually a sign of exhaustion of a movement.

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