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

  • #56,501
  • Dec 28, 2007 3:52am Dec 28, 2007 3:52am
I am still short on GJ as on the longer term TFs it still seems bearish.
  • #56,502
  • Dec 28, 2007 4:04am Dec 28, 2007 4:04am
Quoting ak4x

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

Guess now is a good time to short 1,000 lots each on my demos. Thanks for the suggestion...
  • #56,503
  • Dec 28, 2007 4:11am Dec 28, 2007 4:11am
Quoting ak4x
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...
Joke of the Day
  • #56,504
  • Dec 28, 2007 4:24am Dec 28, 2007 4:24am
Quoting moneymagnet
i see that 225.50 area as a possible buy target area on the 4hr at the 5 sma as some have mentioned but with that said the geppy is known for wicking through then closing above the 5sma so just looking at this 1hr chart(if 226.43 remains the high) i am kind of looking at the 225-225.30 area (38.2% and 50% fib of move up) as a poss entry for a long if the set up is right. also we had a 3 wave retracement move up which could be a 3 wave move of a bigger wave 1 then wave 2 down to that 225 area then big wave 3 up to the 229-230 area as some are calling for. i am no elliotician but i do know moves happen in 3 and 5 wave patterns so we shall see.
good morning all. looks like that trailing stop i added was good for 120 pips, glad i did it. if we start to get closes above the 4hr 50 ema we could possibly be in wave 3 up as i mentioned on the 23rd. unfortunately it missed my buy entry by a few pips so i will sell a break of the low (unless i get a 15 min strategy) or wait to buy a break above the 50 ema. IMO
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  • #56,505
  • Edited 4:48am Dec 28, 2007 4:30am | Edited 4:48am
Goodnite all, going to snooze till the nooze...

ooops, spoke too soon! Went to brush my teeth, take one last little peek, and 50 pips!
FUBAR...
  • #56,506
  • Dec 28, 2007 4:34am Dec 28, 2007 4:34am
the 4H 5sma is acting as a good resistance so far.
  • #56,507
  • Dec 28, 2007 4:42am Dec 28, 2007 4:42am
momentum on almost all TFs is pointing down, MACD on 4H has just crossed down. and on the monthly chart (because today is the last trading day in this month/year), the price is way above 50sma, 100sma, 200sma, 50ema, 100ema and 200ema.

I think there is still a room for GJ to go south.
  • #56,508
  • Dec 28, 2007 4:50am Dec 28, 2007 4:50am
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.

nice call mike
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  • #56,509
  • Dec 28, 2007 4:53am Dec 28, 2007 4:53am
Quoting jacobtrader
My Study tells me
USD/JPY will go towards 112.76 and then bounce from there..

Booked..
  • #56,510
  • Dec 28, 2007 5:50am Dec 28, 2007 5:50am
Any idea why GJ wont go up even when GU is heading to 2.000? Looks like UJ is dragging GJ down!
  • #56,511
  • Dec 28, 2007 6:04am Dec 28, 2007 6:04am
Good morning all!
  • #56,512
  • Dec 28, 2007 6:08am Dec 28, 2007 6:08am
Quoting quecee5
Good morning all!
good morning quecee
  • #56,513
  • Dec 28, 2007 6:15am Dec 28, 2007 6:15am
Quoting PipChick
good morning quecee
GJ looks very tempting as a buy what do you think?
  • #56,514
  • Dec 28, 2007 6:16am Dec 28, 2007 6:16am
Quoting quecee5
GJ looks very tempting as a buy what do you think?
You really mean that ? I was looking for a nice peak for going short...
  • #56,515
  • Dec 28, 2007 6:20am Dec 28, 2007 6:20am
Quoting quecee5
GJ looks very tempting as a buy what do you think?
I was thinking the same but I think we need a little more confirmation. I will wait till 7:30 est to see where it opens.
  • #56,516
  • Dec 28, 2007 6:22am Dec 28, 2007 6:22am
Quoting PipChick
I was thinking the same but I think we need a little more confirmation. I will wait till 7:30 est to see where it opens.
The 5 ema on the 1 hr is holding it down.
  • #56,517
  • Dec 28, 2007 6:32am Dec 28, 2007 6:32am
Quoting PipChick
The 5 ema on the 1 hr is holding it down.
for my trading style, i am in a no trade zone. we have been bouncing from my DS1 and DS2 (225.20ish to 226.10ish) levels for a couple hours now. i am waiting for a brak above the 4hr 50 ema or below today's low. conservative i know, but just my style
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  • #56,518
  • Dec 28, 2007 6:41am Dec 28, 2007 6:41am
Quoting moneymagnet
for my trading style, i am in a no trade zone. we have been bouncing from my DS1 and DS2 (225.20ish to 226.10ish) levels for a couple hours now. i am waiting for a brak above the 4hr 50 ema or below today's low. conservative i know, but just my style
That's a very good approach. . .
  • #56,519
  • Dec 28, 2007 6:59am Dec 28, 2007 6:59am
Quoting MMTom
You really mean that ? I was looking for a nice peak for going short...
Yes, I'll explain my reasoning in a few.
But I will say this. . .I mentioned in earlier post that if GJ was to get to the top of the daily channel it would be GU that would get it there. Also, until I see a close below 224.50 on a daily, GJ has the potential to touch the top of the daily channel which happens to be that 50% fib everyone has been talking about. Now heres what could happen, it could go back and touch the daily pivot @ 226.50's then down to 224.50 and bounce from there back up or. . .

More later. . .
  • #56,520
  • Dec 28, 2007 7:38am Dec 28, 2007 7:38am
man what an active friday
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