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

  • #54,301
  • Dec 11, 2007 9:35am Dec 11, 2007 9:35am
I'm out, got my 100 pips. Daily pivot (calculated at end of NY yesterday) is at 227.86 and I believe this could offer significant support for the time being, and at the very least we're due to retrace back to 1H5sma.
  • #54,302
  • Dec 11, 2007 9:45am Dec 11, 2007 9:45am
Quoting birdt
I'm out, got my 100 pips. Daily pivot (calculated at end of NY yesterday) is at 227.86 and I believe this could offer significant support for the time being, and at the very least we're due to retrace back to 1H5sma.
  • #54,303
  • Dec 11, 2007 9:46am Dec 11, 2007 9:46am
Quoting uncleforex
This is getting nasty.

E/J should break 164 soon and head down to 163s soon.

Don't try to catch a falling knife.
fyi UJ USD?JPY) pitchfork is out of (minor)buy zone and into sell zone(major) targetng 110.30 110.50 or so.... (may wait till after news of course to get better price possibly and see if it returns to buy zone with strength but i doubt it will since interest rate is priced in IMO

if anyone cares to comment its much appreciated
Attached Image (click to enlarge)
Click to Enlarge Name: uj pf h4.gif Size: 13 KB
  • #54,304
  • Dec 11, 2007 9:50am Dec 11, 2007 9:50am
woOHoo getting nasty by the minute.

I think u/j will test the bottom 107s and maybe 105 this month or next.

I think below 110s would happen this week though. I maybe wrong.
  • #54,305
  • Dec 11, 2007 9:50am Dec 11, 2007 9:50am
Quoting uncleforex
Don't try to catch a falling knife.
Learned that lesson all too often. I only have 3 fingers left on my right hand.
Indicators show the past. Price Action "Indicates" the future.
  • #54,306
  • Dec 11, 2007 9:58am Dec 11, 2007 9:58am
DP is in rear view mirror now. So much for that theory......
  • #54,307
  • Dec 11, 2007 9:58am Dec 11, 2007 9:58am
Be carefull people this is profit taking going on with some stop running before the news, whether we will get a continuation down or a whipsaw up to 230-232 area than back down is yet to be seen
  • #54,308
  • Dec 11, 2007 9:59am Dec 11, 2007 9:59am
hello mate, is anyone who can tell if gj is going to reach 223xx and when is it likely to reach
  • #54,309
  • Dec 11, 2007 10:01am Dec 11, 2007 10:01am
did i not tell you guys YESTERDAY that this thing is gonna fall....queece my indicators are still 100% reliable
  • #54,310
  • Dec 11, 2007 10:02am Dec 11, 2007 10:02am
Quoting gene22
Be carefull people this is profit taking going on with some stop running before the news, whether we will get a continuation down or a whipsaw up to 230-232 area than back down is yet to be seen
  • #54,311
  • Dec 11, 2007 10:02am Dec 11, 2007 10:02am
Looks like price is running to the daily 5 sma (227.10ish) for comfort before the Interest Rate Statement
Indicators show the past. Price Action "Indicates" the future.
  • #54,312
  • Dec 11, 2007 10:04am Dec 11, 2007 10:04am
Quoting dagoods
fyi UJ USD?JPY) pitchfork is out of (minor)buy zone and into sell zone(major) targetng 110.30 110.50 or so.... (may wait till after news of course to get better price possibly and see if it returns to buy zone with strength but i doubt it will since interest rate is priced in IMO

if anyone cares to comment its much appreciated
My knowledge of Pitchforks is next to nil...Any Pitchforkers out there?
  • #54,313
  • Dec 11, 2007 10:05am Dec 11, 2007 10:05am
Karmo, just want to say THANKS for your concern about newbies. I am a newbie and I gotta tell ya your patience pill are very helpful I took a couple yesterday and have been feeling better about myself. Thanks for your insight and analysis though I have noticed you dont them as much as you use to before but thats cool. Thanks to all the seniors here for sharing their analysis and comments. You guys rock! If it wasn't for you guys I would have easily blown my account. Still learning the game and I know one day I will master it. Just curious do any of the senior have other jobs or do they do this full time. Would you recommend going full time on this? I have a job that earns me six figures however I dont like it here and I have caught the FX bug and want to try to make this as a career. What do you guys think? I am pretty conservative trading wise and hate seeing my account going below my initial investment. I take out profits as soon as I reach a certain mark. I started trading in Sept with about 22K as my margin have managed to make back about 3400. I think thats pretty good return of investment. I trade mini account
  • #54,314
  • Dec 11, 2007 10:06am Dec 11, 2007 10:06am
Quoting karmostaji
.
hey karmo, if you get a chance ,please post a chart with fibs on it. I am trying to learn and would like to see what the master has on his charts. Thanks Blunt
  • #54,315
  • Dec 11, 2007 10:08am Dec 11, 2007 10:08am
Quoting victa123
hello mate, is anyone who can tell if gj is going to reach 223xx and when is it likely to reach
Why? Have you got a short open from that price? If you have, use a stop loss next time.

Nobody knows what's going to happen, less still when things are going to happen. But, gene22 has been in the game awhile and has made some accurate predictions - go and take a look at his thread in the journal section.
  • #54,316
  • Dec 11, 2007 10:08am Dec 11, 2007 10:08am
Quoting Squidster
did i not tell you guys YESTERDAY that this thing is gonna fall....queece my indicators are still 100% reliable
Thxs but wasn't that after it touched almost 230 this a.m.. . .
Also, the session is not over yet this is news day and anything could happen. Doesn't matter to me because either or I trade both ways and never trade more than my account can afford to lose on days like this. . .

Besides geppy can run 200/300 pips in second up or down so lets see how this all plays out. .

Good trading my friend. . .
  • #54,317
  • Dec 11, 2007 10:11am Dec 11, 2007 10:11am
Quoting vinesh2
Karmo, just want to say THANKS for your concern about newbies. I am a newbie and I gotta tell ya your patience pill are very helpful I took a couple yesterday and have been feeling better about myself. Thanks for your insight and analysis though I have noticed you dont them as much as you use to before but thats cool. Thanks to all the seniors here for sharing their analysis and comments. You guys rock! If it wasn't for you guys I would have easily blown my account. Still learning the game and I know one day I will master it. Just curious do any of the senior have other jobs or do they do this full time. Would you recommend going full time on this? I have a job that earns me six figures however I dont like it here and I have caught the FX bug and want to try to make this as a career. What do you guys think? I am pretty conservative trading wise and hate seeing my account going below my initial investment. I take out profits as soon as I reach a certain mark. I started trading in Sept with about 22K as my margin have managed to make back about 3400. I think thats pretty good return of investment. I trade mini account
U should just keep your day job and trade using higher TFs.

Trading full time is a very boring thing to do.
  • #54,318
  • Dec 11, 2007 10:16am Dec 11, 2007 10:16am
Here's a copy of my pitchfork. Still learning though, sticking with old proven methods until comfortable
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 22 KB
  • #54,319
  • Dec 11, 2007 10:26am Dec 11, 2007 10:26am
Quoting gene22
Be carefull people this is profit taking going on with some stop running before the news, whether we will get a continuation down or a whipsaw up to 230-232 area than back down is yet to be seen

Man when is it likely to bounce back
  • #54,320
  • Dec 11, 2007 10:31am Dec 11, 2007 10:31am
This week could be a very important week for the geppy, we had a bullish outside candle on the week of 11/25, last week we retraced and came back up, (expected) this week is trying to extend to the upside to validate the candle, so far today looks like it could be a sign of a reversal, but we won't know till it's over, if we manage to close below 228.45 today that would be a first sign of weakness and would indicate a minimum target of 223.50, if we mange to close the week below that level than the next significant target would be somewhere between 211 and 208.50 area, that would also mean that we will be sliding next year all the way to 180 area and if that area will be taken out, than god help the carry, 140 would be it. But that's a very long term view, for now I'd like to see 227 taken out on the geppy and 111.30 on the j/u for the slide to accelerate.
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