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

  • #54,641
  • Dec 12, 2007 8:50am Dec 12, 2007 8:50am
Quoting moneymagnet
i havent had a drink in many, many, years but these last 3 trades i have made got me thinking!!!LOL
Lol
  • #54,642
  • Dec 12, 2007 8:54am Dec 12, 2007 8:54am
Quoting quecee5
Carry trade looks to be back in play, however GJ is definitely due for a significant retrace from the agressive move. . .
So are you short or looking to go short ? Just curious
  • #54,643
  • Dec 12, 2007 8:57am Dec 12, 2007 8:57am
I'm a bit skeptical of a short right now as GJ is pointing directly toward 50% fib drawn from 241 high, 221 low. . . on a daily. . .

Your thoughts?
  • #54,644
  • Dec 12, 2007 9:00am Dec 12, 2007 9:00am
Quoting quecee5
I'm a bit skeptical of a short right now as GJ is pointing directly toward 50% fib drawn from 241 high, 221 low. . . on a daily. . .

Your thoughts?
U already know them from my earlier posts
  • #54,645
  • Dec 12, 2007 9:00am Dec 12, 2007 9:00am
Quoting moneymagnet
now where was this yesterday. guess my analysis was a day off as well
It bothered me also that price never went up to hit that 50 Fib line yesterday. I never did get into yesterdays fall because of that. Even when I saw price had hit the 50 EMA on the Daily it still seemed like price was just kind of hanging out there. It's common to see price bounce off of the 50 EMA on the lower TFs, but when you get into the Daily chart, you usually look for price to hit a Fib line or perhaps the 100 SMA or the 200 EMA. Yesterday's news came out right around the time price hit the Daily 50 EMA. It's plain to see now in hindsight that the Daily 50 EMA was not adequate, and that price will probably go to at least the 50 Fib at 231.30. So why did price tumble so far yesterday? Could be that after the news, some of the big dogs jumped in to drive price down, which excited the hedge funds into selling it down even further, so that the big dogs could get a better buy price to take this thing back up to the Fib levels it needs to complete. Certain EMAs and SMAs are powerful in this market, but nothing can beat Fibs from what I have seen. I'm learning that more and more every day. Trust the Fibs over all other lines.

M2B

PS- Looking at this chart a little more closely tells me that I wouldn't be surprised to see price go all the way up to the 61.8 Fib around 233.64, which is where the 200 EMA is also lurking, forming a nice confluence.
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  • #54,646
  • Dec 12, 2007 9:03am Dec 12, 2007 9:03am
Well the Andrews theory worked this time. Price hit the median and went up. Doing more research to determine what next
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  • #54,647
  • Dec 12, 2007 9:12am Dec 12, 2007 9:12am
Quoting my2buoys
It bothered me also that price never went up to hit that 50 Fib line yesterday. I never did get into yesterdays fall because of that. Even when I saw price had hit the 50 EMA on the Daily it still seemed like price was just kind of hanging out there. It's common to see price bounce off of the 50 EMA on the lower TFs, but when you get into the Daily chart, you usually look for price to hit a Fib line or perhaps the 100 SMA or the 200 EMA. Yesterday's news came out right around the time price hit the Daily 50 EMA. It's plain to see now in hindsight that the Daily 50 EMA was not adequate, and that price will probably go to at least the 50 Fib at 231.30. So why did price tumble so far yesterday? Could be that after the news, some of the big dogs jumped in to drive price down, which excited the hedge funds into selling it down even further, so that the big dogs could get a better buy price to take this thing back up to the Fib levels it needs to complete. Certain EMAs and SMAs are powerful in this market, but nothing can beat Fibs from what I have seen. I'm learning that more and more every day. Trust the Fibs over all other lines.

M2B

PS- Looking at this chart a little more closely tells me that I wouldn't be surprised to see price go all the way up to the 61.8 Fib around 233.64, which is where the 200 EMA is also lurking, forming a nice confluence.
That was my original analysis 230/231/233, but I'm a day late and a dollar short. . . Oh well, thought process was correct execution was off. . .
  • #54,648
  • Dec 12, 2007 9:13am Dec 12, 2007 9:13am
Quoting Holypendant
caught about 500 pips since long yest... n it touches my 50ema daily chart. so i close my long n open a short position with stoploss 150pips.. tis pair will go downwards unless it break 232.


woohoo... rite on track... tis pair goin dwn.. currenlty up 50pips... any1 here oso shorting?
  • #54,649
  • Dec 12, 2007 9:15am Dec 12, 2007 9:15am
crazy cpl of hours! I think anything is possible, though still a pennant pattern on the weekly chart
  • #54,650
  • Dec 12, 2007 9:16am Dec 12, 2007 9:16am
Quoting quecee5
That was my original analysis 230/231/233, but I'm a day late and a dollar short. . . Oh well, thought process was correct execution was off. . .
Same here---but from a more fundamental perspecitive.
  • #54,651
  • Dec 12, 2007 9:18am Dec 12, 2007 9:18am
Quoting peterM
crazy cpl of hours! I think anything is possible, though still a pennant pattern on the weekly chart
By "pennant pattern' you mean Bearish right?
  • #54,652
  • Dec 12, 2007 9:18am Dec 12, 2007 9:18am
well shorted from 230.20 reason been price has hit weekly 5 sma high.. it's too early too know but SL is already in profit so it's a no loos trade
  • #54,653
  • Dec 12, 2007 9:22am Dec 12, 2007 9:22am
Quoting forexnovice
By "pennant pattern' you mean Bearish right?
ya, it's a bearish pennant pattern.. on the weekly..
  • #54,654
  • Dec 12, 2007 9:23am Dec 12, 2007 9:23am
Quoting Holypendant
woohoo... rite on track... tis pair goin dwn.. currenlty up 50pips... any1 here oso shorting?
Be careful. . .
If it keeps bouncing off 229.63 R2 resistance turned support GJ could see a run up to the daily R2 @ 231.59. . .

It's already bounced off of it twice so far. However, if it makes it through then the next support is 229 area. . .

I think this pair is bullish to the end of the NY session, I don't expect a retrace until the Asian session possibly or they could run it to 233 area if NY session doesn't. . .

Just my two cents!
  • #54,655
  • Dec 12, 2007 9:26am Dec 12, 2007 9:26am
Quoting peterM
ya, it's a bearish pennant pattern.. on the weekly..
Thanx..
  • #54,656
  • Dec 12, 2007 9:27am Dec 12, 2007 9:27am
Quoting quecee5
Be careful. . .
If it keeps bouncing off 229.63 R2 resistance turned support GJ could see a run up to the daily R2 @ 231.59. . .

It's already bounced off of it twice so far. However, if it makes it through then the next support is 229 area. . .

I think this pair is bullish to the end of the NY session, I don't expect a retrace until the Asian session possibly or they could run it to 233 area if NY session doesn't. . .

Just my two cents!
thanks.. i had move stoploss to bk profit so is a sure win trade.
  • #54,657
  • Dec 12, 2007 9:29am Dec 12, 2007 9:29am
Quoting Holypendant
thanks.. i had move stoploss to bk profit so is a sure win trade.
  • #54,658
  • Dec 12, 2007 9:34am Dec 12, 2007 9:34am
Quoting forexnovice
Thank you Pyramid Your Good Wishes have borne fruition.
I hope you got enough PIPs , I just lost 100 Pips...
Imagination is more important than knowledge. -- Albert Einstein
  • #54,659
  • Dec 12, 2007 9:37am Dec 12, 2007 9:37am
I think since today is Wednesday and specially after this nice rally, it's better to keep up till 5 EST which is the time big boys will take their interests and party.

I also think that price may reach 50% fib around 231.30 and then down again.
Yesterday and today was a miss for me since I was out of the market and no trade at all. I just arrived after big movements and so ... not a single dime ... may be tomorrow ...
Discipline + Patience - Fear - Greed = Success
  • #54,660
  • Dec 12, 2007 9:39am Dec 12, 2007 9:39am
Quoting tranium
Gents,
Been seeing the ADX 8 at all TFs in addition to Aus's other indicators, help to understand current momentum of the price movement. Just use ADX 8 and level 40. When the ADX line (ignore +d1 & -d1) cross 40 and pointing some degrees UP, the price normally continues with the current trend. Continue using existing aus's indicators for entry and exit.
Happy trying. cheers!!!

good filter thanks
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