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

  • #54,941
  • Dec 13, 2007 9:43am Dec 13, 2007 9:43am
Quoting quecee5


Yep once it gets through ranging up/down,, up/down looks like it could go to the next level of price which is @ 229.72/ then 230.40 if it gets above 229.30.

However in the midst of it ranging, we might see it go back to 228.61 (already bounced from there once) and even 228.20/25 before getting up there depending on Dow. . .

Just another side to look at to understand what prices is doing while you're holding your longs. . .

Have a good system = GREAT!
Undsertanding why the system works = PRICELESS!
Agreed, looks like we will see 228.28 at least before we continue to rise up. None of the times frames a jiving in an upward direction right now.
  • #54,942
  • Dec 13, 2007 9:44am Dec 13, 2007 9:44am
Quoting quecee5
Yep, but UJ is testing 112.40 resistance, if it breaks and GU reverses upward then GJ will see 231.60's real fast. . .

JMHO!
But what if UJ bounced off 112.40 while GU is bearish, I think I'll keep my shorts for now.
  • #54,943
  • Dec 13, 2007 9:48am Dec 13, 2007 9:48am
shorts are looking good right now, unforntunately
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #54,944
  • Dec 13, 2007 9:49am Dec 13, 2007 9:49am
The market is too volatile!!!!
did you see the drop now?
I fear my head
  • #54,945
  • Dec 13, 2007 9:50am Dec 13, 2007 9:50am
Quoting DollaBill
Agreed, looks like we will see 228.28 at least before we continue to rise up. None of the times frames a jiving in an upward direction right now.
Agreed, or it could continue to bounce off 4hr pivot @ 228.61. . . If it breaks thru 228.28 support should hold for now. . .

  • #54,946
  • Dec 13, 2007 9:50am Dec 13, 2007 9:50am
Be careful with your longs, euro is dropping like a stone, and taking cable with it, UJ has not got much room to move up, in fact it needs a correction down -> geppy going down

R

Quoting Dior
I m still in favor of the longs, I going to proceed with the plan come rain or come shine.
  • #54,947
  • Dec 13, 2007 9:50am Dec 13, 2007 9:50am
Quoting Rustyyy
Sorry...lack of sleep !
Weekly R3
Ok..if thats how you want to put it
  • #54,948
  • Dec 13, 2007 9:54am Dec 13, 2007 9:54am
Quoting quecee5
Agreed, or it could continue to bounce off 4hr pivot @ 228.61. . . If it breaks thru 228.28 support should hold for now. . .

Pivot is looking like a dam in the Katrina epidemic, she could give at any minute......
  • #54,949
  • Dec 13, 2007 9:54am Dec 13, 2007 9:54am
Quoting Rocroy
Be careful with your longs, euro is dropping like a stone, and taking cable with it, UJ has not got much room to move up, in fact it needs a correction down -> geppy going down

R
I agree with you
  • #54,950
  • Dec 13, 2007 9:54am Dec 13, 2007 9:54am
Quoting moneymagnet
shorts are looking good right now, unforntunately
For the moment, might not last to much longer. I think we'll see at least 228.28 then back up or it may just continue to bounce off the 4hr pivot @ 228.61. Another senario is it could go back and retest the low for today @ 227.43, have to wait and see what it does if it goes down to 228.28. . .

All and all the way GJ bounced off the 50% fib line and shot back up to 228 is a good sign that the upward trend should continue. Probably going to be a choppy ride though. . .
  • #54,951
  • Dec 13, 2007 9:55am Dec 13, 2007 9:55am
Quoting kdoubled01
The market is too volatile!!!!
did you see the drop now?
I fear my head
If you have drawn the uptrend channel properly, we are bouncing off the lower TL, I won't worry unless it breaks to the downside of the channel.
Trade what you see, not what you think.
  • #54,952
  • Dec 13, 2007 9:56am Dec 13, 2007 9:56am
GOLD just dropped USD20
  • #54,953
  • Dec 13, 2007 9:57am Dec 13, 2007 9:57am
another crazy day for this pair! I really have no clue what it will do in the short term
  • #54,954
  • Dec 13, 2007 9:58am Dec 13, 2007 9:58am
as i said earlier. we will see: 227.30 first according to the fib channels.
  • #54,955
  • Dec 13, 2007 9:58am Dec 13, 2007 9:58am
Long DOJI forming on the 4H chart
  • #54,956
  • Dec 13, 2007 10:00am Dec 13, 2007 10:00am
Quoting karmostaji
If you have drawn the uptrend channel properly, we are bouncing off the lower TL, I won't worry unless it breaks to the downside of the channel.

Always good to understand downside risk in any trade.
Good comment!
  • #54,957
  • Dec 13, 2007 10:01am Dec 13, 2007 10:01am
how is your indicator, has it been able to keep that 100% reliability? could you let us see a sample?

R

Quoting Squidster
as i said earlier. we will see: 227.30 first according to the fib channels.
  • #54,958
  • Dec 13, 2007 10:08am Dec 13, 2007 10:08am
Quoting karmostaji
Bullish harmonic pattern on GU 1H
Yup but I dont see any reversal yet .

Could be made invalid easily.

Might even drop 100pips later.
  • #54,959
  • Dec 13, 2007 10:10am Dec 13, 2007 10:10am
Quoting karmostaji
If you have drawn the uptrend channel properly, we are bouncing off the lower TL, I won't worry unless it breaks to the downside of the channel.
  • #54,960
  • Dec 13, 2007 10:13am Dec 13, 2007 10:13am
Quoting peterM
another crazy day for this pair! I really have no clue what it will do in the short term
It's simple. . .
"Big boys" will take it back down then up then down for the moment and buy it at the low, Then right before Xmas they'll shoot it up to the moon. . .

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