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

  • #57,481
  • Jan 6, 2008 9:55pm Jan 6, 2008 9:55pm
Quoting dagoods
QUEECEE!!!!!!!!!!!!!

  • #57,482
  • Edited Jan 7, 2008 1:54am Jan 6, 2008 11:21pm | Edited Jan 7, 2008 1:54am
Hi everyone. Here’s a 1H G/J chart. I see a trend line leading upwards and holding well. I also see a bullish 1H QQE, and consistent closes above the 1H Gann. I expect this to bring price up to the 4H Gann and the 1H 50ema in the 215.50 area, where there is also a 50% retracement fib from the Thursday and Friday high / low.

This seems like a reasonable and conservative target for London session.

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  • #57,483
  • Jan 6, 2008 11:24pm Jan 6, 2008 11:24pm
Quoting Pips_Cruiser
Hi everyone. Here’s a 1H G/J chart. I see a trend line leading upwards and holding well. I also see a bullish 1H QQE, and consistent closes above the 1H Gann. I expect this to bring price up to the 4H Gann and the 1H 50ema in the 215.50 area, where there is also a 50% retracement fib from the Thursday and Friday high / low.

This seems like a reasonable and conservative target for London session. At 10AM EST there is a US Housing news report. Anything could happen just before or after that, so be cautious with open trades.


i think i am going to bail early and keep them pips by moving my stop losss to plus 50 now....as u never know with the geppy..... i dont like being against the overall long term trend so... 50 pips is 50 pips to me...... great chart!
  • #57,484
  • Jan 6, 2008 11:29pm Jan 6, 2008 11:29pm
Quoting dagoods
i think i am going to bail early and keep them pips by moving my stop losss to plus 50 now....as u never know with the geppy..... i dont like being against the overall long term trend so... 50 pips is 50 pips to me...... great chart!
I wouldn't blame you one bit for closing it out . . . this is my first long in quite awhile, and I'm a little hesitant about it.

  • #57,485
  • Jan 6, 2008 11:38pm Jan 6, 2008 11:38pm
Quoting Pips_Cruiser
Here's a look at the monthly chart with this decade's fibs and trends, and an emphasis on where price could be heading. Drew some fibs from low to high, and it looks like we've hit the 38.2% retrace fib already. Found three viable trend lines for lows pointing to areas above 200 and below 210. If the fundamental situation gets worse I see us heading for the mid to low 200's, where there's a confluence of the trend lines and the next fib line.
Good Morning All

PC good chart there. Why have you set the 100 fib a bit higher on the monthly chart. Thanx.

Good Trading All
  • #57,486
  • Jan 6, 2008 11:43pm Jan 6, 2008 11:43pm
Quoting forexnovice
Good Morning All

PC good chart there. Why have you set the 100 fib a bit higher on the monthly chart. Thanx.

Good Trading All
That's true, it is different. What I'm doing here is "drilling down" on a lower time frame, looking for a potential target during the next few hours. I want the target to be hit before US news (and even before pre-news price action starts up).
  • #57,487
  • Jan 6, 2008 11:58pm Jan 6, 2008 11:58pm
Quoting Pips_Cruiser
That's true, it is different. What I'm doing here is "drilling down" on a lower time frame, looking for a potential target during the next few hours. I want the target to be hit before US news (and even before pre-news price action starts up).
US News for Pending Home Sales is not until Tuesday 10:00 a.m. EST. Only fundy event for US tomorrow is Paulson speaking at 2:00 pm EST.
  • #57,488
  • Jan 7, 2008 12:01am Jan 7, 2008 12:01am
Quoting Rustyyy
US News for Pending Home Sales is not until Tuesday 10:00 a.m. EST. Only fundy event for US tomorrow is Paulson speaking at 2:00 pm EST.
Thanks Rustyyy. I did read that wrong. This makes me feel more confident about the target.
  • #57,489
  • Jan 7, 2008 12:16am Jan 7, 2008 12:16am
Quoting forexnovice
Good Morning All

PC good chart there. Why have you set the 100 fib a bit higher on the monthly chart. Thanx.

Good Trading All
For me, most of the weekly and monthly charts coming out during the weekend are just for looking at the larger picture. I don't take trades that last more than a day, and prefer ones that end within hours. So I look for cycles within the larger cycles. We haven't had a decent retrace lately and it looks like the time might be ripe. But I'm not as optimistic about a large retrace as some of the others seem to be.
  • #57,490
  • Jan 7, 2008 12:27am Jan 7, 2008 12:27am
Quoting Pips_Cruiser
For me, most of the weekly and monthly charts coming out during the weekend are just for looking at the larger picture. I don't take trades that last more than a day, and prefer ones that end within hours. So I look for cycles within the larger cycles. We haven't had a decent retrace lately and it looks like the time might be ripe. But I'm not as optimistic about a large retrace as some of the others seem to be.
Same here. Think long term, trade short term, ie, keep long term targets and trade towards them taking profits along the way.
  • #57,491
  • Jan 7, 2008 12:32am Jan 7, 2008 12:32am
Quoting Pips_Cruiser
For me, most of the weekly and monthly charts coming out during the weekend are just for looking at the larger picture. I don't take trades that last more than a day, and prefer ones that end within hours. So I look for cycles within the larger cycles. We haven't had a decent retrace lately and it looks like the time might be ripe. But I'm not as optimistic about a large retrace as some of the others seem to be.
PC,

GJ looks short to me, 2-3 failed attempts to break through and hold above the daily pivot (114.89). I'm actually short with tight stops (25 pips) @ 215 targeting 213 1st target. . . If it break above 215 I'll continue to look for better shorts @ a better price.

Good luck all in your trading this week.
  • #57,492
  • Jan 7, 2008 12:33am Jan 7, 2008 12:33am
Quoting forexnovice
Same here. Think long term, trade short term.
  • #57,493
  • Jan 7, 2008 12:36am Jan 7, 2008 12:36am
Quoting quecee5
GE Quecee.
  • #57,494
  • Jan 7, 2008 12:36am Jan 7, 2008 12:36am
Quoting quecee5
PC,

GJ looks short to me, 2-3 failed attempts to break thru and hold above the daily pivot (214.89). I'm actually short with tight stops @ 215 targeting 213 1st target. . .

Good luck all in your trading this week.
I was just thinking about the pivot. I show it at 214.78, but that's not a very big difference. Price definitely still needs to get over that hurdle.
  • #57,495
  • Jan 7, 2008 1:36am Jan 7, 2008 1:36am
quecee why u thinking short? besides the pivot? uj looks suported and gu looks to poassibly start to be as well? I know its not good to pick a bottom and dont try to catch a falling knife and all that but...... I just am confused cause i dont see any signs of short again just yet...if anything i see neutral......just curious what i am missing.... thanks q!
  • #57,496
  • Jan 7, 2008 1:43am Jan 7, 2008 1:43am
Dagoods GU well supported around 1.9680. UJ good resistance around 109.13, GJ

edit-both broken after I posted
  • #57,497
  • Jan 7, 2008 1:44am Jan 7, 2008 1:44am
..my indicator more bias to retracement...what make you think it will bearish quecee?...
  • #57,498
  • Jan 7, 2008 1:46am Jan 7, 2008 1:46am
Quoting forexnovice
Dagoods GU well supported around 1.9680. UJ good resistance around 109.13, GJ


ok
  • #57,499
  • Edited 1:53am Jan 7, 2008 1:49am | Edited 1:53am
Quoting dagoods
ok

gu may have just taken a dump... broke her previous 4 hour low at 73 where is her next support? lol uj looks good though! we'll see

If uj fails to close above 109.53 (4 hour) she may take a dump too and then....well you know! (we can all bow to queecee as usual) lol
  • #57,500
  • Jan 7, 2008 1:58am Jan 7, 2008 1:58am
this is the real test for gu...she just hit that 1.9650 and bounced a bit....will it hold?????
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