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

  • #56,461
  • Dec 28, 2007 1:02am Dec 28, 2007 1:02am
Quoting forexnovice
Hi Dagoods..Keep those creative juices flowing . I was looking at the pin on 15min followed by pin on 30min. Awaiting hourly close b4 pinching any bottoms

i have been reading tom demarks books... very very cool... highly recomend them... tough reading though..... i cant wait to read his latest ( i started with the first 2) but i hear the latest is all you really need to read as it is supposedly much easier to read...... tom demark is a friggin genius IMHO if you read his books he says what he presents is not a system but an outline i guess you would call it.... and he as much as says that any one of his TD's is not a signal by itself... but in combo friggin awesome IMO.....td sequential is awesome if you combine it with td trendlines or pa or whatever else you use... very friggin cool ... so far so good...
  • #56,462
  • Dec 28, 2007 1:05am Dec 28, 2007 1:05am
Quoting forexnovice
Hi Dagoods..Keep those creative juices flowing . I was looking at the pin on 15min followed by pin on 30min. Awaiting hourly close b4 pinching any bottoms

news looks bearish to me ... lets see
  • #56,463
  • Dec 28, 2007 1:10am Dec 28, 2007 1:10am
Quoting dagoods
i have been reading tom demarks books... very very cool... highly recomend them... tough reading though..... i cant wait to read his latest ( i started with the first 2) but i hear the latest is all you really need to read as it is supposedly much easier to read...... tom demark is a friggin genius IMHO if you read his books he says what he presents is not a system but an outline i guess you would call it.... and he as much as says that any one of his TD's is not a signal by itself... but in combo friggin awesome IMO.....td sequential is awesome if you combine it with td trendlines or pa or whatever else you use... very friggin cool ... so far so good...
Good going I am sticking to just basic TLs and fibs, looking to explore Naked Trading when time permits. The educational material available on FF is worth its weight in Gold , to say the least. Way to go FF
  • #56,464
  • Dec 28, 2007 1:12am Dec 28, 2007 1:12am
First time posting here so hey everyone

Now, news looks bearish to me too .. but why are GBP/USD and GBP/JPY both going up?
  • #56,465
  • Dec 28, 2007 1:15am Dec 28, 2007 1:15am
Quoting forexnovice
Good going I am sticking to just basic TLs and fibs, looking to explore Naked Trading when time permits. The educational material available on FF is worth its weight in Gold , to say the least. Way to go FF

i really want to learn fibs but i'm dyslexic for real...keep drawing the upside down and backwards and i just dont see them yet.... they just look like yellow lines with mubers like 38 and 61 on them... i just dont get it..... wish i had a mentor but if i were using fibs and i did understand them i would definitely be tuning in to skunnys indicator free trading thread for a read as he has some crazy backwards fib ideas that all on that thread seem to be really excited about... but its all greek to me so far still.... on my list to learn though
  • #56,466
  • Dec 28, 2007 1:19am Dec 28, 2007 1:19am
Guess it just pushed up from 225.17, some resistance there?
  • #56,467
  • Dec 28, 2007 1:22am Dec 28, 2007 1:22am
Quoting speedcash
Guess it just pushed up from 225.17, some resistance there?
what resistance? i dont see much resistance ther... they probably just running stops to clear out the sukers
  • #56,468
  • Dec 28, 2007 1:22am Dec 28, 2007 1:22am
Quoting ramy
First time posting here so hey everyone

Now, news looks bearish to me too .. but why are GBP/USD and GBP/JPY both going up?


The market is still analysing the news, the major take is what it will do to the propose interest rate cut. For now till when the rate decision is made GU will be most influence by how the market percieve the news will affect rate cut.
  • #56,469
  • Dec 28, 2007 1:25am Dec 28, 2007 1:25am
Quoting speedcash
Guess it just pushed up from 225.17, some resistance there?

my broker is running some metion of "fixing" could that be price fixing???? would explain it... or could be that the down cycle ended where predicted and the news is basically a boring nothing and the techinicals are in control....
  • #56,470
  • Dec 28, 2007 1:25am Dec 28, 2007 1:25am
Quoting dagoods
i really want to learn fibs but i'm dyslexic for real...keep drawing the upside down and backwards and i just dont see them yet.... they just look like yellow lines with mubers like 38 and 61 on them... i just dont get it..... wish i had a mentor but if i were using fibs and i did understand them i would definitely be tuning in to skunnys indicator free trading thread for a read as he has some crazy backwards fib ideas that all on that thread seem to be really excited about... but its all greek to me so far still.... on my list to learn though
No mentor for me except ofcourse some of the seniors on this forum. Spending countless hours reading, reading and more reading, searching the forums (priceless), googling around etc. Still have difficulty understanding the fundies...I had better shut up now or one of those Pictures is bound to Pop up
  • #56,471
  • Dec 28, 2007 1:26am Dec 28, 2007 1:26am
Quoting ramy
First time posting here so hey everyone

Now, news looks bearish to me too .. but why are GBP/USD and GBP/JPY both going up?

hi ramy welcome!
  • #56,472
  • Dec 28, 2007 1:29am Dec 28, 2007 1:29am
Quoting forexnovice
No mentor for me except ofcourse some of the seniors on this forum. Spending countless hours reading, reading and more reading, searching the forums (priceless), googling around etc. Still have difficulty understanding the fundies...I had better shut up now or one of those Pictures is bound to Pop up

(you are so right though ff absolutely RULES and all you guys on this thread especially and you all know who you are are my mentors and i wuv you all so very much!
  • #56,473
  • Dec 28, 2007 1:38am Dec 28, 2007 1:38am
Quoting dagoods
my broker is running some metion of "fixing" could that be price fixing???? would explain it... or could be that the down cycle ended where predicted and the news is basically a boring nothing and the techinicals are in control....

off the same support levels on 24th and 25th, overall im still bearish..
  • #56,474
  • Dec 28, 2007 1:42am Dec 28, 2007 1:42am
Quoting speedcash
off the same support levels on 24th and 25th, overall im still bearish..

can u please post your chart so i can see the support/resistance of those dates you refer to????
  • #56,475
  • Dec 28, 2007 1:46am Dec 28, 2007 1:46am
Quoting forexnovice
Hi Dagoods..Keep those creative juices flowing . I was looking at the pin on 15min followed by pin on 30min. Awaiting hourly close b4 pinching any bottoms

i see retreat to the safe eu happening... e/u long may = u/j short.....lets see...but gu seems stcuk where it is for now....eur since news has been going up big..... so lets see how it affects us... i think gj drops again if uj drops what u think fn????
  • #56,476
  • Dec 28, 2007 1:47am Dec 28, 2007 1:47am
We just saw that retracement that Dagoods and I were talking about earlier. A fantastic entry point to add to short positions on the way down.
I dream, therefore I become.
  • #56,477
  • Dec 28, 2007 1:48am Dec 28, 2007 1:48am
Quoting mike w
We just saw that retracement that Dagoods and I were talking about earlier. A fantastic entry point to add to short positions on the way down.

maybe so i was thinking the same but e/u up just like yesterday us session and then g/u up and uj down = gj confused again lol what u think??? could be same scenario....
  • #56,478
  • Edited 1:58am Dec 28, 2007 1:50am | Edited 1:58am
Quoting speedcash
Guess it just pushed up from 225.17, some resistance there?
Guess I better say hey to all, first post on this thread, altho I've been lurking around on it for awhile highgrading all the good stuff. Thanks to all the old heads for that.

Concerning the support/ "resistance" at 25.17, it's actually within a few pips of a 23% fib line on my weekly chart, running from the trading lows of August-Sept 2006 to the high of July 07. So i would not wonder at it pausing there. I'm still short from 26.83 in any event.

I trade GY now and then after my neck heals up from the whiplash...
FUBAR...
  • #56,479
  • Dec 28, 2007 1:58am Dec 28, 2007 1:58am
Quoting jacobtrader
My Study tells me
USD/JPY will go towards 112.76 and then bounce from there..
As expected.
  • #56,480
  • Dec 28, 2007 1:58am Dec 28, 2007 1:58am
Quoting dagoods
maybe so i was thinking the same but e/u up just like yesterday us session and then g/u up and uj down = gj confused again lol what u think??? could be same scenario....
The downmove in the Usd/Jpy is going to greatly outweigh any move up on the gbp/usd. This would bring down the gbp/jpy.

By the way, the hour is closing as a bearish pin or close to it. It is off of fib levels at that. I'll post a 30 minute chart to show my reasoning for more downside on this chart. It went up to the 61.8 fib and now we'll see a drop from here. The hourly is the same deal, Just a higher timeframe.
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I dream, therefore I become.
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