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

  • #55,801
  • Dec 20, 2007 12:27pm Dec 20, 2007 12:27pm
Looks like some profit taking going on with GJ
  • #55,802
  • Dec 20, 2007 12:36pm Dec 20, 2007 12:36pm
Quoting FX-Petra
Dow has turned negative and we seem to be finding a bottom/ bouncing slightly. Maybe equities are becomming a contra-indicator for this pair.
downtrend seems to have weakened substantially (thanks arezeb for the tool!) and i have now draw fibs(just learning) anyone agree?
Attached Image (click to enlarge)
Click to Enlarge Name: gj fibs weak dt.gif Size: 24 KB
  • #55,803
  • Dec 20, 2007 12:40pm Dec 20, 2007 12:40pm
Quoting dagoods
downtrend seems to have weakened substantially (thanks arezeb for the tool!) and i have now draw fibs(just learning) anyone agree?

then again still in big down trend so... anyone out there?
  • #55,804
  • Dec 20, 2007 12:45pm Dec 20, 2007 12:45pm
Quoting dagoods
then again still in big down trend so... anyone out there?
Looks like many are here according to the bottom of this page. . .
Anyway, I think we just saw "THE BOUNCE" now the downtrend will probably resume. . .

Any thoughts?????
  • #55,805
  • Dec 20, 2007 12:55pm Dec 20, 2007 12:55pm
Quoting quecee5
Looks like many are here according to the bottom of this page. . .
Anyway, I think we just saw "THE BOUNCE" now the downtrend will probably resume. . .

Any thoughts?????

uj is holding on by a thread..... if we break the lower TL then....well you know the deal... but it is holding on for now...thin ice though.....
Attached Image (click to enlarge)
Click to Enlarge Name: uj holding...barely.gif Size: 23 KB
  • #55,806
  • Dec 20, 2007 12:59pm Dec 20, 2007 12:59pm
Quoting quecee5
Looks like many are here according to the bottom of this page. . .
Anyway, I think we just saw "THE BOUNCE" now the downtrend will probably resume. . .

Any thoughts?????
I cut my teeth on this pair with Auslanco's daily 5SMA retrace. Maybe price will have to stay low for a while to pull the SMA close down, but these big moves are always followed by a retrace to some area associated with the 5SMA. This may happen today, or maybe next week, but it will happen. I am long and can at least gather intrest until the retrace happens. It could be worse and in could be short waiting for a retrace---paying intrest all the time!
  • #55,807
  • Edited 1:09pm Dec 20, 2007 12:59pm | Edited 1:09pm
Quoting quecee5
Looks like many are here according to the bottom of this page. . .
Anyway, I think we just saw "THE BOUNCE" now the downtrend will probably resume. . .

Any thoughts?????

uj now officially has more buyers than sellers...52% any thoughts quecee?

back to more sellers again.... back to buyers...back and forth back and forth...
  • #55,808
  • Dec 20, 2007 1:11pm Dec 20, 2007 1:11pm
Quoting dagoods
uj now officially has more buyers than sellers...52% any thoughts quecee?

back to more sellers again.... back to buyers...back and forth back and forth...
that indicator is not useful, it lags.
Trade what you see, not what you think.
  • #55,809
  • Dec 20, 2007 1:13pm Dec 20, 2007 1:13pm
Quoting karmostaji
that indicator is not useful, it lags.
CoT?
  • #55,810
  • Dec 20, 2007 1:14pm Dec 20, 2007 1:14pm
Quoting karmostaji
that indicator is not useful, it lags.

thanks karm sorry just learning as u know...appreciate the help i wont post bs no more...
  • #55,811
  • Dec 20, 2007 1:22pm Dec 20, 2007 1:22pm
In my opinion downplay is still on and we will see 223 area before any upward movement.
I see some of bros are hoping for 230 area in short period of time like 1 or 2 days. I doubt that to happen so soon because of the holidays but may be in new year we will return up so far if 221.16 area is not broken till that time.
Discipline + Patience - Fear - Greed = Success
  • #55,812
  • Dec 20, 2007 1:28pm Dec 20, 2007 1:28pm
Quoting bluerose
Here is the analysis from FXCM's Jamie Seattlele (spell)

research to Jamie
show details 11:57 AM (37 minutes ago) Reply

GBPJPY
GBPCHF
GBPAUD

Commentary – The GBPJPY is at a very interesting juncture. We have been looking to get bearish for some time, but not until a rally to 232.38/233.68 completes wave ii of C. That said, the GBPJPY rally from 221.27 was in 3 waves so it is very possible that wave ii is complete at 230.33. Still, subjectively speaking (COT data is the big one here), we would like to see a larger correction in wave ii test the 232.38/233.68 area before we commit to the bearish cause. A break of 221.27 would turn us bearish for the drop to 210.00.

Strategy – Get bearish near 232.38/233.68, against 241.35, target 210.00
Wow! I trade on FXCM's platform but I don't delve into their analysis stuff much any more. Almost sounds like I could have written that myself, though. I might have to start checking out what they have to say more often.

M2B
  • #55,813
  • Dec 20, 2007 1:33pm Dec 20, 2007 1:33pm
Quoting dagoods
uj is holding on by a thread..... if we break the lower TL then....well you know the deal... but it is holding on for now...thin ice though.....
dagoods,

bottom of uj channel comes @ 112.50 where it will be met with buyers. If UJ trades down there, which could be l8ter today we'll see GJ trade closer to 223. All in all I think we'll see GJ down in the 221 area before 230's. . .
  • #55,814
  • Dec 20, 2007 1:35pm Dec 20, 2007 1:35pm
Quoting birdt
CoT?
I don't know what it is called but the one that shows you how many % are buyers/sellers etc...
Trade what you see, not what you think.
  • #55,815
  • Dec 20, 2007 1:35pm Dec 20, 2007 1:35pm
Quoting karmostaji
Just wait until that big bullish pattern on GU (daily chart) gets triggered, and it should pull GJ up again.

Plus look at the QQE's
Karmo,

Seeing the big picture through the maze and minutia of smaller TFs.

Any clues on that "trigger" besides a tsunami?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4hr bullish trend.gif Size: 40 KB
  • #55,816
  • Dec 20, 2007 1:35pm Dec 20, 2007 1:35pm
Quoting arezab
In my opinion downplay is still on and we will see 223 area before any upward movement.
I see some of bros are hoping for 230 area in short period of time like 1 or 2 days. I doubt that to happen so soon because of the holidays but may be in new year we will return up so far if 221.16 area is not broken till that time.
1-2 days? I don't know about that but in the coming weeks possible
Trade what you see, not what you think.
  • #55,817
  • Dec 20, 2007 1:36pm Dec 20, 2007 1:36pm
Quoting quecee5
dagoods,

bpttom of uj channel comes @ 112.50 where it will be met with buyers. If UJ trades down there, which could be l8ter today we'll see GJ trade closer to 223. All in all I think we'll see GJ down in the 221 area before 230's. . .
yes I'm with you.
Discipline + Patience - Fear - Greed = Success
  • #55,818
  • Dec 20, 2007 1:37pm Dec 20, 2007 1:37pm
Quoting quecee5
dagoods,

bpttom of uj channel comes @ 112.50 where it will be met with buyers. If UJ trades down there, which could be l8ter today we'll see GJ trade closer to 223. All in all I think we'll see GJ down in the 221 area before 230's. . .
I agree with that statement now. Damn, market opinions are not good for traders. I just made that mistake earlier in the week by having an opinion on where the market will go. Don't do that. Trade it like there is no market, just a bunch of bars. Price action tells you what to do.
I dream, therefore I become.
  • #55,819
  • Dec 20, 2007 1:39pm Dec 20, 2007 1:39pm
Quoting quecee5
Looks like many are here according to the bottom of this page. . .
Anyway, I think we just saw "THE BOUNCE" now the downtrend will probably resume. . .

Any thoughts?????
After taking profits off a little earlier in the session, I am again reestablishing short positions. Like a few of you say, 223 is on the cards. Personally, over the next week i think we will see it even lower, maybe even through the big 'oll 220 level.
"If it bleeds ... we can kill it"
  • #55,820
  • Dec 20, 2007 1:40pm Dec 20, 2007 1:40pm
Quoting arezab
In my opinion downplay is still on and we will see 223 area before any upward movement.
I see some of bros are hoping for 230 area in short period of time like 1 or 2 days. I doubt that to happen so soon because of the holidays but may be in new year we will return up so far if 221.16 area is not broken till that time.
OK. I'll bite. I asked someone else earlier, it might have been Quecee, what EMA, Fib or other line was at the 223 "area" to cause you to think that price could "go there". I realize that you qualified this as just your opinion, but surely you must have a 'technical' reason for picking that 'area'. What am I missing at 223, because I don't see any support on any of my charts at that area. If price is going to go down further it's going to hit 221.27, which I am now convinced it will hit since we had both a 1H and 4H close beneath 223.70 on my charts. I'm not sure it's going to happen today. Price is OS out the wahzoo and needs to consolidate out of that condition. I do see 221.27 being hit by tomorrow. Then, next week, we see an 1100 pip jump up to 232.40, which, as I posted before on a chart, is the Monthly 5SMA close, the 100 Fib of a major move down on the Daily Chart, and the Weekly 50EMA.

M2B
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