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

Quoting mike w

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Once we hit 227, I'll be looking to post some shorts. Obvious reasons for why once you look at the chart. Well, I'll be posting shorts once we get solid PA to indicate a reversal back down.

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Quoting mike w

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Once we hit 227, I'll be looking to post some shorts. Obvious reasons for why once you look at the chart. Well, I'll be posting shorts once we get solid PA to indicate a reversal back down.

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Quoting fer

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Quote:
Originally Posted by fer http://www.forexfactory.com/images/buttons/viewpost.gif
im long a small position from 226.46. target- 227.36 and stop loss 226.15.

bye
fer




thanks for that input quecee. i feel very lucky that profit target got hit just shy of 1 pip. i was expecting it to go higher to 227.55, hence i had kept profit target at 227.36 for 90 pips. just glad it got hit.

fer

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Quoting quecee5

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Here's one simple reason, lower lows and lower highs on all lower TF's. . .

JMHO!

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Quoting mike w

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Yep. I agree entirely with that!
Right now, I'm just looking for a good price to jump in at. I'm watching the 15 minute timeframe to pinpoint an entry but nothing's happening at all.

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Quoting cancunkev

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I believe, from reading his posts, he is looking to go short.

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Quoting quecee5

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Quoting quecee5

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That's exactly what I'm saying. . .
In other words, we may see a UJ move up to challenge the 114/114.50 area which is part of the uptrend channel. If it fails I see possibly moving back down to the lower channel which is 112.50/60 area. . .

If there is a break above then UJ will have 38% fib support. The next target would be to take out 114.50 resistance for move toward 50% fib @ 115.60/70 and higher.

Currently I think it will move thru the channell which is typical however any significant move up with follow thru will probably be seen after the New Year with heavier volume. . . JMHO!

These are my thoughts, please trade what you see. I'm looking for constructive feedback to show why this isn't a possibility. I also would like feedback from any GU bulls why you feel it is not in a serious downtrend.

Thanks in advance. . .

Hope this helps. . .

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Quoting mike w

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Yeah I am looking for shorts. Sorry for the late reply.

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Quoting quecee5

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Quoting dagoods

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hey quecc.... i found a reason to be a gu bull on skunnys thread.... i'm not advocating it...just went looking for a reason as per your post here ya go.... 162 fib hit on weekly as per:
Today 3:30pm
kenneith
Member
Member Since Oct 2007
Posts: 80


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i was following my weekly candle for GBP/USD since last week and 162% (for last weekly candle)was exactly at 1.9931 where it bottomed for today (i hope so) as my weekly candle close on wednesday midight GMT. i dont know if i am correct or wrong as i am drawing fibs from last weekly candle and then i am following daily and 4hr flow in the direction of weekly flow. opinions appreciated as newbie here.
regards Quote:
Originally Posted by lowell http://forexfactory.com/images/buttons/viewpost.gif
This chart Skunny posted of his G/J trades supports my theory. If I am correct a new cycle started and the old one ended where his TP was @ the 138.2 line. I believe if price had reversed @ the 0.0 line and never dropped below it again the end of the cycle and his TP would have been @ the 161.8.

What do you think?

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#470 http://forexfactory.com/images/buttons/report.gif
http://forexfactory.com/images/statusicon/post_old.gif Today 3:38pm
lowell
Baby Pip!
Member Since Dec 2006
Posts: 131



I did the very same thing Kenneith, except my 161.8 is at 1.9927. I grabbed most of the pips from the 100.0 line to the bottom. My TP was hit TO THE PIP!!

No wonder I'm excited!
I've never projected a pinpoint target like this!
Never, Never, Never!!

I don't understand it all yet but thanks to Skunny, I will get there!!

P.S. - The 161.8 long target of the first 1hr bar that bounced from 1.9927 is @ 2.002! Price is currently @ 1.9978. Wanna' bet it makes it!

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Quoting quecee5

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forexnovice,

GJ may go higher longer term, my analysis was referring to the next couple of sessions, which I'm now convinced GJ will at least reached 227.18 at a minimal if it continues to trade above/near the 4hr pivot of 226.60. . .

The question is how we get there, thru an up move from UJ or GU or a combination of both. . . I think we'll see it mainly from a UJ up move.

Lets see how it plays out. . .

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Quoting arezab

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After some study about Moutek system, I found it is most of times useful.
Here is what I see on 4H chart. Since the lower trend line is broken the first target can be 233.20 and the second 221.06. In spite of being strictly in oversold condition, because we don't have any shocking news (except U.S GDP on Friday) I think we will see those targets soon.

Good to mention that DJI and GU are still both holding down too.

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Quoting dagoods

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I'm with you but...
i'm not sure we have had a significant enough break of lower trendlines yet...but i'm watching carefully... may need a daily candle held below the tl since we are looking at a major support that must be broken ...just my 2 cents... wouldnt suprise me if it bounced and we went to 227 neighborhood ... lets see

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Quoting arezab

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After some study about Moutek system, I found it is most of times useful.
Here is what I see on 4H chart. Since the lower trend line is broken the first target can be 233.20 and the second 221.06. In spite of being strictly in oversold condition, because we don't have any shocking news (except U.S GDP on Friday) I think we will see those targets soon.

Good to mention that DJI and GU are still both holding down too.

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Quoting arezab

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which major support do you mean? Do you mean 224.80 ?

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