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

  • #57,061
  • Jan 3, 2008 6:39am Jan 3, 2008 6:39am
on H1 chart, we have a downward channel
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  • #57,062
  • Jan 3, 2008 6:46am Jan 3, 2008 6:46am
15 min till NY session. Will we chop or drop?
  • #57,063
  • Jan 3, 2008 6:50am Jan 3, 2008 6:50am
GM Quecee5. Your thoughts for today?
  • #57,064
  • Jan 3, 2008 6:55am Jan 3, 2008 6:55am
Quoting PipChick
15 min till NY session. Will we chop or drop?
IMHO, DJIA is going to test 12700 soon
  • #57,065
  • Jan 3, 2008 7:01am Jan 3, 2008 7:01am
Quoting PipChick
lol..Thats a lot of posts. I dont know whether we will have a retrace or not. When the NL on the Weekly was broken at 221.10 it is good for at least a 1000-1500 pips. Just my opinion.
The 07:00 est candle looked like a reversal to me, I went long 1 lot and grabbed 50 pips.
  • #57,066
  • Jan 3, 2008 7:26am Jan 3, 2008 7:26am
Quoting forexnovice
GM Quecee5. Your thoughts for today?
GM forexnovice =
Its been a very good few days. . .
Give me a sec and I will take a lookie to see whats going on. . .
  • #57,067
  • Jan 3, 2008 7:29am Jan 3, 2008 7:29am
Quoting Mysticdiver
The 07:00 est candle looked like a reversal to me, I went long 1 lot and grabbed 50 pips.
Is it a reversal or just short covering?????
Hard to believe we would be in a reversal so soon. I'm actually looking for a good place to place some shorts myself. Shortig on any rallies going up!
  • #57,068
  • Jan 3, 2008 7:34am Jan 3, 2008 7:34am
Check out the hourly gbp/usd forming. It's forming away from resistance and all fib levels. We're moving lower again in my opinion. I've been in for a while now and adding more shorts as we go along.
I dream, therefore I become.
  • #57,069
  • Jan 3, 2008 7:49am Jan 3, 2008 7:49am
Title: GBP/JPY intraday: rebound before a drop Summary: Update on supports and resistances. Story: Pivot: 216.5

Our preference: Short positions below 216.5 with targets @ 214.5 & 213.6 in extension.

Alternative scenario: Above 216.5 look for further upside with 217.4 & 218.2 as targets.

Comment: the RSI is rebounding, the pair should post a slight rebound and should bang against its resistance.
http://www.tradingcentral.com/chart/...0103135917.GIF
  • #57,070
  • Jan 3, 2008 7:49am Jan 3, 2008 7:49am
Well, it looks like I may have to add shorts on this hours close. It's dropping steadily again with only 10 minutes to go. With that, I plan to see at least the previous lows touched again and further. One trade will go to the previous low and the others will go further.
I dream, therefore I become.
  • #57,071
  • Jan 3, 2008 7:55am Jan 3, 2008 7:55am
On GJ, 1hr gann providing resistance so far. Also note the PinBar developing on GU hourly with a bounce from Weekly Pivot S1. Shorted GJ @ 1hr gann, GU @ weekly S1 & UJ @ Monthly S1. All with 100pip SL.
  • #57,072
  • Jan 3, 2008 7:57am Jan 3, 2008 7:57am
Quoting forexnovice
On GJ, 1hr gann providing resistance so far. Also note the PinBar developing on GU hourly with a bounce from Weekly Pivot S1. Shorted GJ @ 1hr gann, GU @ weekly S1 & UJ @ Monthly S1. All with 100pip SL.
Lookin good to me FN. Best of luck to you.
I dream, therefore I become.
  • #57,073
  • Jan 3, 2008 8:02am Jan 3, 2008 8:02am
I plan on adding in at 216.16. That's the 50% of this last small move down.
I dream, therefore I become.
  • #57,074
  • Jan 3, 2008 8:02am Jan 3, 2008 8:02am
Quoting mike w
Lookin good to me FN. Best of luck to you.
Thanx Mike w. Good luck on your shorts also Looks like the carry trades are unwinding as pointed out by Quecee5 & Pipchick earlier.
  • #57,075
  • Jan 3, 2008 8:09am Jan 3, 2008 8:09am
Mike/Forexnovice,

I'm with you guys on this but can someone explain why 4 hr and daily mom's are pointing up? Also, we just got a close above the 5 sma on the 1hr chart could we see a bit more upside before reversing back down. . .

Your opinion please?
  • #57,076
  • Jan 3, 2008 8:09am Jan 3, 2008 8:09am
fyi...

14:02 GMT FX OPTIONS: GBP/JPY Talk of a Big 213.00 Digital In Play London, January 3.

There is talk that a big 213.00 exotic Digital option is in play. We presume that GBP/JPY will need to be trading below 213.00 to warrant a payout on the option when it expires. GBP/JPY last traded at/below 213.00 in August 2006. GBP/JPY plumbed 17-month lows within a yen of 213.00 earlier today (during the London morning). [email protected]
  • #57,077
  • Jan 3, 2008 8:11am Jan 3, 2008 8:11am
by mouteki strategy there is a buy signal
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  • #57,078
  • Jan 3, 2008 8:13am Jan 3, 2008 8:13am
sorry, but you have not applied the method properly. On the 4h chart there is no trendline break!
Consistency and patience is everything
  • #57,079
  • Jan 3, 2008 8:13am Jan 3, 2008 8:13am
Its trading very choppy now, we might see some upside as Dow futures are up, however the data was mixed so that might preclude a lot of longs from being initiated as the charts are still bearish. Particularly the daily/weekly.
Patience + Humility + Study = Success
  • #57,080
  • Jan 3, 2008 8:13am Jan 3, 2008 8:13am
Quoting forexnovice
On GJ, 1hr gann providing resistance so far. Also note the PinBar developing on GU hourly with a bounce from Weekly Pivot S1. Shorted GJ @ 1hr gann, GU @ weekly S1 & UJ @ Monthly S1. All with 100pip SL.
yes, same as 5sma on the 4H. I'm short with you from 216.11 with aggressive SL (just a little above the 1H Gann).
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