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

  • #55,861
  • Dec 20, 2007 3:20pm Dec 20, 2007 3:20pm
LOL
Quoting quecee5
Yeah I hear ya. . .
I decided to ride UJ up to 113.50/114 instead of GJ to make life easier
I'll catch GJ going down once I see it has topped out. Better to sit over there and watch while making pips
FF journal: Peaks and Troffs
  • #55,862
  • Dec 20, 2007 3:21pm Dec 20, 2007 3:21pm
http://www.forexfactory.com/showthre...t=57822&page=4

Take a look at SeekingLight GJ chart near the bottom of this page. Very detailed and enlightening. . . (this is from Gene22's LAzy thread. . )
  • #55,863
  • Edited 3:47pm Dec 20, 2007 3:23pm | Edited 3:47pm
Quoting MMDealer
A little too much? Hell yeah... i cant see it getting down there in a hurry. I would love to see it to 1.96 though!

dont see a tl to stop gus fall ???/ seems to be headed to next lwest daily support levels of 1.9731 and if that breaks (probaly not) then 1.9534 = see chart
Attached Image (click to enlarge)
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  • #55,864
  • Dec 20, 2007 3:31pm Dec 20, 2007 3:31pm
To all of the "TOPNOTCH" individuals here...

I have been working 14-16 hour days and I finally got off early and saw the G/U had tubed. Could anyone help me understand why? The last I recalled, the FED cut interest rates, G/Y reacted very well for 10+ minutes, and from what it looked like everything was going to go back to normal.

I apologize for being lazy, but there was over 70+ pages of forum to catch up on but I'm not reading as fast as the prices are changing.

Thank you in advance.

B
  • #55,865
  • Dec 20, 2007 3:42pm Dec 20, 2007 3:42pm
Quoting JDAMv3
To all of the "TOPNOTCH" individuals here...

I have been working 14-16 hour days and I finally got off early and saw the G/U had tubed. Could anyone help me understand why? The last I recalled, the FED cut interest rates, G/Y reacted very well for 10+ minutes, and from what it looked like everything was going to go back to normal.

I apologize for being lazy, but there was over 70+ pages of forum to catch up on but I'm not reading as fast as the prices are changing.

Thank you in advance.

B
This should pretty much explain it!

http://www.actionforex.com/forex_ana...2007122033853/
  • #55,866
  • Dec 20, 2007 3:48pm Dec 20, 2007 3:48pm
Quoting dagoods
dont see a tl to stop gus fall ???/ seems to be headed to next lwest daily support levels of 1.9731 and if that breaks (probaly not) then 1.9534 = see chart

sorry all there it is.....
Attached Image (click to enlarge)
Click to Enlarge Name: gu tl is there.gif Size: 36 KB
  • #55,867
  • Dec 20, 2007 3:52pm Dec 20, 2007 3:52pm
we just got that 5 sma retrace. I think there is more downside in the mix before we would move up.
I dream, therefore I become.
  • #55,868
  • Dec 20, 2007 3:54pm Dec 20, 2007 3:54pm
Quoting quecee5
This should pretty much explain it!

http://www.actionforex.com/forex_ana...2007122033853/

WOW!! Great web site!

Thank you very much!
  • #55,869
  • Dec 20, 2007 4:12pm Dec 20, 2007 4:12pm
Quoting JDAMv3
To all of the "TOPNOTCH" individuals here...

I have been working 14-16 hour days and I finally got off early and saw the G/U had tubed. Could anyone help me understand why? The last I recalled, the FED cut interest rates, G/Y reacted very well for 10+ minutes, and from what it looked like everything was going to go back to normal.

I apologize for being lazy, but there was over 70+ pages of forum to catch up on but I'm not reading as fast as the prices are changing.

Thank you in advance.

B
The biggest development was the release of the BOE minutes which showed the vote to cut rates was 9-0. Market saw this as signaling more BOE rate cuts and the sent the pound into a tailspin. GU sell off has been big, dragging GJ down with it. However, this extreme move is more about perception than reality. BOE has given no real hint that another rate cut is comming. Doubtless something will happen in the comming days to alter that perception and we will be back off the the topside again. Also, forget looking at Dow and Nikkei for direction, right now the is no positive correlation between equities and GJ.
  • #55,870
  • Dec 20, 2007 4:19pm Dec 20, 2007 4:19pm
Quoting FX-Petra
The biggest development was the release of the BOE minutes which showed the vote to cut rates was 9-0. Market saw this as signaling more BOE rate cuts and the sent the pound into a tailspin. GU sell off has been big, dragging GJ down with it. However, this extreme move is more about perception than reality. BOE has given no real hint that another rate cut is comming. Doubtless something will happen in the comming days to alter that perception and we will be back off the the topside again. Also, forget looking at Dow and Nikkei for direction, right now the is no positive correlation between equities and GJ.
thanks you always seem to have the bigger picture....
  • #55,871
  • Dec 20, 2007 4:19pm Dec 20, 2007 4:19pm
well, it is happening. Price is not bouncing up to 5SMA close...5SMA close is being drug down to meet price. At present 5SMA close is @ 226.40 and falling. Maybe when they get a little closer price will shoot up for a touch.
  • #55,872
  • Dec 20, 2007 4:24pm Dec 20, 2007 4:24pm
Quoting quecee5
This should pretty much explain it!

http://www.actionforex.com/forex_ana...2007122033853/

gj just ran into the 23 fib..... any thoughts????
Attached Image (click to enlarge)
Click to Enlarge Name: gj fibs all.gif Size: 44 KB
  • #55,873
  • Dec 20, 2007 4:26pm Dec 20, 2007 4:26pm
Quoting dagoods
gj just ran into the 23 fib..... any thoughts????
Yeah bro, i noticed that as well. Usually i wouldnt pay much attention to it. Maybe it holds more credence with the significant downward momentum we have seen...

Are you holding a position dagoods?
"If it bleeds ... we can kill it"
  • #55,874
  • Dec 20, 2007 4:38pm Dec 20, 2007 4:38pm
Quoting MMDealer
Yeah bro, i noticed that as well. Usually i wouldnt pay much attention to it. Maybe it holds more credence with the significant downward momentum we have seen...

Are you holding a position dagoods?

check your pm brother
  • #55,875
  • Dec 20, 2007 4:40pm Dec 20, 2007 4:40pm
My system is very basic, I wait for the 5 SMA to cross the 10 SMA, wait for the next bar and act accordingly. I am using AUS's strategies on demo until I get the hang of it. So my positions are quite small and very safe.

I don't like being a bottom feeder and using everyone's time and effort for my own gain. Babypips is teaching me a lot, I really want to get the hang of drawing these Fib lines. But practice is the best practice.

Thanks again for everyone's imputs, you have no idea how much it helps.

B
  • #55,876
  • Dec 20, 2007 4:57pm Dec 20, 2007 4:57pm
Freakin net mafia is after me!!! Keep losing internet connection. M2B...still long with me? Im going to try to hold onto to it until the 50% and hopefully the 61.8. May sell at that point.Good luck on trades everyone....I have to get ready for daughters bday party.
  • #55,877
  • Dec 20, 2007 5:11pm Dec 20, 2007 5:11pm
Quoting PipChick
Freakin net mafia is after me!!! Keep losing internet connection. M2B...still long with me? Im going to try to hold onto to it until the 50% and hopefully the 61.8. May sell at that point.Good luck on trades everyone....I have to get ready for daughters bday party.
You really think it will move all the way to 227? That's a long shot off. I'm just wondering as to what would cause that large of an upmove and why you could see it being a realistic target. Thanks!
I dream, therefore I become.
  • #55,878
  • Dec 20, 2007 5:13pm Dec 20, 2007 5:13pm
Quoting mike w
You really think it will move all the way to 227? That's a long shot off. I'm just wondering as to what would cause that large of an upmove and why you could see it being a realistic target. Thanks!
225.30 is the 61.8 of todays move down.
Edit...sorry, I should have clarified that.
  • #55,879
  • Dec 20, 2007 5:16pm Dec 20, 2007 5:16pm
Quoting PipChick
225.30 is the 61.8 of todays move down.
Edit...sorry, I should have clarified that.
Ok, thanks Pipchick. I noticed earlier M2B said he was looking to see 227...or maybe it was Karmo? I'm not really sure now. Thanks again and good luck in your trades.
I dream, therefore I become.
  • #55,880
  • Dec 20, 2007 5:26pm Dec 20, 2007 5:26pm
Quoting PipChick
225.30 is the 61.8 of todays move down.
Edit...sorry, I should have clarified that.

looks good to me but 50 fib may be safer target ????
Attached Image (click to enlarge)
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