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

  • #56,481
  • Dec 28, 2007 1:58am Dec 28, 2007 1:58am
Quoting dagoods
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????
Haven't looked at EU, EJ or any other pair for quite some time. Trade GU or UJ when a nice setup with low risk/high reward appears...otherwise its just GJ all the way. Highlighted words are obvious I guess...I am long with 100pip SL (on demo).
  • #56,482
  • Dec 28, 2007 1:59am Dec 28, 2007 1:59am
I was late and didnīt get in till 226.25, but I just got back in at 226.00. I think we will see at least 225.10 and perhaps 224.30.

Anyone else short?
  • #56,483
  • Dec 28, 2007 2:00am Dec 28, 2007 2:00am
Quoting ak4x
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 July-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...
hey good to hear from ya! what u guys all think of this possible scenario..... gj forms a new channel which looks an awful lot like a pitchfork....hmmmmmmmmmmmm
Attached Image (click to enlarge)
Click to Enlarge Name: gj channel pos.gif Size: 26 KB
  • #56,484
  • Dec 28, 2007 2:06am Dec 28, 2007 2:06am
Quoting mike w
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.

great analysis mike... i like it alot.... you convinced me to see it your way...uj down will outweigh any gu up on bad gdp news.... simple common sense..... i'm braindead duh duh duh lol i'm going with that theory because it supports the earlier technical anaysis too
  • #56,485
  • Dec 28, 2007 2:18am Dec 28, 2007 2:18am
Quoting dagoods
can u please post your chart so i can see the support/resistance of those dates you refer to????

looking towards 224.73 and 223.57
Attached Image
  • #56,486
  • Dec 28, 2007 2:22am Dec 28, 2007 2:22am
Quoting speedcash
looking towards 224.73 and 223.57

thank u ....the lower daily chart supports i see now.... In your view you think we head straight down there?????
  • #56,487
  • Dec 28, 2007 2:23am Dec 28, 2007 2:23am
Quoting speedcash
looking towards 224.73 and 223.57
Fo sho'. I like the targets. I'm looking to see that initial 223 area too. I'm not sure what I'll do once we get there. Long term, I'm looking to see a large drop on the Usd/Jpy and so that will drag the gbp/jpy with it. I'm looking to see at least 105 as a longer term target for usd/jpy. Time will tell, I guess.
I dream, therefore I become.
  • #56,488
  • Dec 28, 2007 2:25am Dec 28, 2007 2:25am
Quoting speedcash
looking towards 224.73 and 223.57

my original demark td anaysis was targeting 224.77 and now i just drew fibs and see 61 fib at that level.... maybe that fib supplies resistance???? anyone have thoughts... ( i am not a fib guy so.....)
  • #56,489
  • Dec 28, 2007 2:26am Dec 28, 2007 2:26am
Quoting dagoods
thank u ....the lower daily chart supports i see now.... In your view you think we head straight down there?????
chart
Attached Image (click to enlarge)
Click to Enlarge Name: gj fibs.gif Size: 26 KB
  • #56,490
  • Dec 28, 2007 2:27am Dec 28, 2007 2:27am
Quoting dagoods
my original demark td anaysis was targeting 224.77 and now i just drew fibs and see 61 fib at that level.... maybe that fib supplies resistance???? anyone have thoughts... ( i am not a fib guy so.....)
Not a fib guy?!?! Learn it! Trust me, you'll be happy you did! You won't feel in the dark anymore with your trades.
I dream, therefore I become.
  • #56,491
  • Dec 28, 2007 2:29am Dec 28, 2007 2:29am
Quoting dagoods
my original demark td anaysis was targeting 224.77 and now i just drew fibs and see 61 fib at that level.... maybe that fib supplies resistance???? anyone have thoughts... ( i am not a fib guy so.....)
Neither am I. Yes you have drawn the fibs correctly from the swing hi to swing lo.
  • #56,492
  • Dec 28, 2007 2:30am Dec 28, 2007 2:30am
Quoting mike w
Not a fib guy?!?! Learn it! Trust me, you'll be happy you did! You won't feel in the dark anymore with your trades.

i am confident you will teach me seriously though i really want to.... but one thing at a time.... i just dont sem to get it yet.. sometimes it passes right through the fibs sometimes not... i am not yet seeing how to use them.... will read up soon when i get a chance...
  • #56,493
  • Dec 28, 2007 2:31am Dec 28, 2007 2:31am
IMHO unless i see the breakout of the channel.. looking at it to test the support levels... i cant deteremine whether is this the wave down...
  • #56,494
  • Dec 28, 2007 2:37am Dec 28, 2007 2:37am
Quoting dagoods
hi ramy welcome!
hey dagoods .. thanks for the warm welcome First time for me to trade G/J .. but i think its too late for me to digest the relation that u mentioned so i'm gonna call it a night .. but thanks for pointing that out and good luck everyone
  • #56,495
  • Dec 28, 2007 2:39am Dec 28, 2007 2:39am
Quoting dagoods
i am confident you will teach me seriously though i really want to.... but one thing at a time.... i just dont sem to get it yet.. sometimes it passes right through the fibs sometimes not... i am not yet seeing how to use them.... will read up soon when i get a chance...
I understand, it took me about 1 year or so to learn how to use them and ven then it was just basic knowledge. I've just really gotten the hang of them recently and my trading is much better because I have. I'll look for some good reading and send it to you sooner or later.
I dream, therefore I become.
  • #56,496
  • Dec 28, 2007 2:45am Dec 28, 2007 2:45am
Quoting ramy
hey dagoods .. thanks for the warm welcome First time for me to trade G/J .. but i think its too late for me to digest the relation that u mentioned so i'm gonna call it a night .. but thanks for pointing that out and good luck everyone

ok tune in again many awesome traders hang out here... i know nothing compared to them... they can teach us mucho...
  • #56,497
  • Dec 28, 2007 2:48am Dec 28, 2007 2:48am
Quoting mike w
I understand, it took me about 1 year or so to learn how to use them and ven then it was just basic knowledge. I've just really gotten the hang of them recently and my trading is much better because I have. I'll look for some good reading and send it to you sooner or later.

awesome thanks mike! youre the best... there is so much out there even here on ff.... too much to read it all..... like amillion posts on fibs ...daunting.... so if u know the good stuff that would be very cool....
  • #56,498
  • Dec 28, 2007 3:35am Dec 28, 2007 3:35am
Anyone still short? This thing is going crazy....as is the norm the past 10 days or so
  • #56,499
  • Dec 28, 2007 3:49am Dec 28, 2007 3:49am
Still waiting for e/j to form a double top at 166.50 to 167.00

Will short around that area with small lots.

Depends on whether there will be any valid sell signals.

E/J wanna form a hanging man on the daily charts.

Notice the triple top forming on the daily chart too.
Attached Image (click to enlarge)
Click to Enlarge Name: ej daily.gif Size: 32 KB
  • #56,500
  • Dec 28, 2007 3:51am Dec 28, 2007 3:51am
Quoting cancunkev
Anyone still short? This thing is going crazy....as is the norm the past 10 days or so
Yes, so far still short from 26.83, and also 26.00.

I have a weekly S/R trendline at 26.28. If it breaks and holds above that, then I would wonder.

Right now, I think the market is so thin, a couple guys on demo accounts could probably move the market...
FUBAR...
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