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

  • #56,881
  • Jan 2, 2008 11:02am Jan 2, 2008 11:02am
Quoting quecee5
I see daily s3 @ 216.05, after that monthly s2 @ 214.87, then monthly s3 support @ 208.81 after that then

weekly supports have all been breached according to the pivots I'm looking at anyone else see anything different.

lets see what happens after 2 pm when the fed fomc meeting. on calendar..... but i noticed on eu that it has so far been unable to penetrate the latest 100 fib line....... if it is rejected at this 100 fib.... theory suggests the e/u may retrace down a bit and u/j may retrace up a bit as a possibility .... you seniors and fib guys would know better than me...anyone?????


PS. again though i would not be trying to pick a bottom...only being way of possibilities and hoping for a nice retrace to go short again when the time is right.... quec????
Attached Image (click to enlarge)
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  • #56,882
  • Jan 2, 2008 11:13am Jan 2, 2008 11:13am
qqe's on all tf are below 30
  • #56,883
  • Jan 2, 2008 11:18am Jan 2, 2008 11:18am
Quoting dagoods
lets see what happens after 2 pm when the fed fomc meeting. on calendar..... but i noticed on eu that it has so far been unable to penetrate the latest 100 fib line....... if it is rejected at this 100 fib.... theory suggests the e/u may retrace down a bit and u/j may retrace up a bit as a possibility .... you seniors and fib guys would know better than me...anyone?????


PS. again though i would not be trying to pick a bottom...only being way of possibilities and hoping for a nice retrace to go short again when the time is right.... quec????
EJ has broken significant supports, I'm looking for a daily close below 161.76 for a ride down to 160.90 1st target, then 160.30's where daily s2 and monthly s1 lie. As for GJ I'm not picking a bottom on this one either, going with the trend here, hard to say where the bottom is so I'll let the charts dictate that. . .What I do know is a UJ close below 109.50 isn't good for GJ and GU is probably headed towrd 1.96/95 so this couldn't be good for GJ either. . .
  • #56,884
  • Jan 2, 2008 11:22am Jan 2, 2008 11:22am
Quoting quecee5
EJ has brokken significant supports, I'm looking for a daily close below 161.76 for a ride down to 160.90 1st target, then 160.30's where daily s2 and monthly s1 lie. As for GJ I'm not picking a bottom on this one either, going with the trend here, hard to say where the bottom I'll let the charts dictate that. . .What I do know is a UJ close below 109.50 isn't good for GJ and GU is probably headed towrd 1.96/95 os this couldn't be good for GJ either. . .
I said it before and I'll say it again; Look to see the Usd/Jpy at lower levels than it had previously. We're in a clear downtrend and the retracement is over, which means we are headed back down. Over time, it will pan out and I look to see it to at leas 105 and lower.
I dream, therefore I become.
  • #56,885
  • Jan 2, 2008 11:25am Jan 2, 2008 11:25am
Quoting mike w
I said it before and I'll say it again; Look to see the Usd/Jpy at lower levels than it had previously. We're in a clear downtrend and the retracement is over, which means we are headed back down. Over time, it will pan out and I look to see it to at leas 105 and lower.
I agree!
  • #56,886
  • Jan 2, 2008 11:30am Jan 2, 2008 11:30am
I agree with and adhere to your signature
  • #56,887
  • Jan 2, 2008 11:32am Jan 2, 2008 11:32am
Quoting forexnovice
I agree with and adhere to your signature
Hey thanks Forexnovice. I thought it to be an altruism so I jsut put it in there. Alritey, here's what I'm seeing. It looks to me like the gbp/usd may be changing overall direction to bearishness. With that, if the usd/jpy stays on a bearish course, then gbp/jpy is still in for some large moves lower. I'm looking to see, actually, beyond 213 fairly soon.
Maybe I'm just saying that because I want that 1000 pips trade...lol
I dream, therefore I become.
  • #56,888
  • Jan 2, 2008 11:39am Jan 2, 2008 11:39am
Quoting Piters
Another one ?? C'mon mate go for 2000pips...

Cheers
Lol, one day when I trade solely on the weekly and monthly charts, that is a very big possibility. Right now, I'm still confined to day trading as I don't have the capital to make it worth a trade that would last for a few months at a time. In due time, I will though. Thanks for the support! lol

Anyways, 50 more pips and here she is... lol I'd like to get a hold on one in the opposite direction when the time comes for the longer term. I doubt that will happen for a few months to years though. The interest would be great!
I dream, therefore I become.
  • #56,889
  • Jan 2, 2008 11:40am Jan 2, 2008 11:40am
Well, I'm ditching 229.50, and the 231.50 50% fib line. With 219.30 violated it doesn't have much meaning left anyway. I am now looking for a retracre to get me out of this nightmare. Daily 5 sma near 223---Weekly 5sma near 225. Any thoughts out there about where a potential retrace would go to? I believe there must be a retrace soon, maybe triple intrest buying will spark it this afternoon.
  • #56,890
  • Jan 2, 2008 11:40am Jan 2, 2008 11:40am
Anyone watching EU as a possible trade? Looks like a great short opportunity to the downside @ 1.4750/1.4800. . .
  • #56,891
  • Jan 2, 2008 11:40am Jan 2, 2008 11:40am
GJ

short entered at 217.74 & 217.30 with tp at 216.42 and no s/l

after exit,

long from 216.42 with tp at 218.82 with tight stoploss and trailing stop.
  • #56,892
  • Jan 2, 2008 11:42am Jan 2, 2008 11:42am
Quoting FX-Petra
Well, I'm ditching 229.50, and the 231.50 50% fib line. With 219.30 violated it doesn't have much meaning left anyway. I am now looking for a retracre to get me out of this nightmare. Daily 5 sma near 223---Weekly 5sma near 225. Any thoughts out there about where a potential retrace would go to? I believe there must be a retrace soon, maybe triple intrest buying will spark it this afternoon.
yup, i believe so too that after FOMC stuff later and by 5pm EST, gj should be higher..im targeting for 218.82/219.30 and then re-short again..for now my tp is 216.42.
  • #56,893
  • Jan 2, 2008 11:43am Jan 2, 2008 11:43am
Happy New Year Everybody...

My server is at 0:00 GMT and my Pivots are different than the numbers I see referred to... would you please, when giving your S/R levels, also indicate what GMT they are at... ie: GMT 0:00 G/J MN-S2 @ 215.41... -Thanks!
  • #56,894
  • Jan 2, 2008 11:45am Jan 2, 2008 11:45am
Quoting quecee5
Anyone watching EU as a possible trade? Looks like a great short opportunity to the downside @ 1.4750/1.4800. . .
I'm not too sure if I would short it as it is still above support based on my charts. Check out the usd/cad though. We've hit the 61.8 retracement and are now heading back down. I think we'll eventually see .9000 again on that pair.
I dream, therefore I become.
  • #56,895
  • Jan 2, 2008 11:46am Jan 2, 2008 11:46am
Quoting quecee5
Anyone watching EU as a possible trade? Looks like a great short opportunity to the downside @ 1.4750/1.4800. . .

goes along with my earlier post with the fibs on eu (failed to break the 100)..... but its not how i trade...(YET) but if your wanted to be aggresive and it fits into your "system"... looks ok to me.... but the 2 pm news could have impact.... i am waiting for entries after 2 pm fomc minutes..... maybe you can catch a few in the meantime???? check that ...if YOU say so i wouldnt bet agaisnt you
  • #56,896
  • Jan 2, 2008 11:51am Jan 2, 2008 11:51am
Quoting dagoods
goes along with my earlier post with the fibs on eu (failed to break the 100)..... but its not how i trade...(YET) but if your wanted to be aggresive and it fits into your "system"... looks ok to me.... but the 2 pm news could have impact.... i am waiting for entries after 2 pm fomc minutes..... maybe you can catch a few in the meantime???? check that ...if YOU say so i wouldnt bet agaisnt you

not quite yet ready to scalp that baby quecee at least not for me.... still trading above the tl....multi time frame stochs still pointed way up no pa (psar) james 16 etc. to confirm yet check the 1 hour chart...but i see your thinking...it MAY happen..... not yet though IMO
Attached Image (click to enlarge)
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  • #56,897
  • Jan 2, 2008 11:56am Jan 2, 2008 11:56am
Do you think that Berni & guys will decide to cut the rates again tonight?
Discipline + Patience - Fear - Greed = Success
  • #56,898
  • Jan 2, 2008 12:01pm Jan 2, 2008 12:01pm
Quoting dagoods
not quite yet ready to scalp that baby quecee at least not for me.... still trading above the tl....multi time frame stochs still pointed way up no pa (psar) james 16 etc. to confirm yet check the 1 hour chart...but i see your thinking...it MAY happen..... not yet though IMO
Here is my thinking, you got daily, weekly and monthly resistance in EU ar'd 1.4807/45 area. Also, daily 5 sma is @ 1.4635 also, could go deeper to 1.45/1.44 area easily. . .
  • #56,899
  • Jan 2, 2008 12:03pm Jan 2, 2008 12:03pm
Quoting arezab
Do you think that Berni & guys will decide to cut the rates again tonight?
No but the market has priced in an 80% chance of a 25bps cut later this month. . .
  • #56,900
  • Jan 2, 2008 12:13pm Jan 2, 2008 12:13pm
Quoting arezab
Do you think that Berni & guys will decide to cut the rates again tonight?
tonight we have FOMC minutes not decision
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