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

  • #57,501
  • Jan 7, 2008 1:59am Jan 7, 2008 1:59am
Quoting dagoods
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
Why 109.53 ? Monthly S1 109.30, 23.6 fib 109.49 taking hi 114.65 lo 107.9.
  • #57,502
  • Jan 7, 2008 2:00am Jan 7, 2008 2:00am
Quoting Pips_Cruiser
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.
Now just get that last leg over . . .
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  • #57,503
  • Jan 7, 2008 2:04am Jan 7, 2008 2:04am
Quoting forexnovice
Why 109.53 ? Monthly S1 109.30, 23.6 fib 109.49 taking hi 114.65 lo 107.9.

last 8 hour candle on my chart is that number ...if price gets rejected there she may reverse....is all i was thinking .... one possibility....
  • #57,504
  • Jan 7, 2008 2:06am Jan 7, 2008 2:06am
Quoting dagoods
last 8 hour candle on my chart is that number ...if price gets rejected there she may reverse....is all i was thinking .... one possibility....
Thanx .
  • #57,505
  • Jan 7, 2008 2:10am Jan 7, 2008 2:10am
If UJ retraces to 50 fib level (111.xx), and if GU stays pretty stable a day or two (there is a good support at 1.9655), that would mean at least a 200-300 upswing for GJ. So i'm long biased.

R
  • #57,506
  • Jan 7, 2008 2:15am Jan 7, 2008 2:15am
Quoting forexnovice
Thanx .
109.53 and 109.30 are basically same thing i was looking at it like a james 16 prior engulfing candle.... or if u pulled a fib from that last engulfing candle it would be the 0 or 100 level(depending on how u drew it) from that sr.... u can also see it as a test of the 109.30 level there is always possibility of penetration without a break.... many ways to see the same thing
  • #57,507
  • Jan 7, 2008 2:29am Jan 7, 2008 2:29am
Quoting Pips_Cruiser
I wouldn't mind seeing that, Mr D.


we're getting closer lol maybe...just maybe....lol
  • #57,508
  • Jan 7, 2008 2:31am Jan 7, 2008 2:31am
dagoods, have you drawn your fibs, what do they say? Is it time for a short retrace now?

Quoting dagoods
109.53 and 109.30 are basically same thing i was looking at it like a james 16 prior engulfing candle.... or if u pulled a fib from that last engulfing candle it would be the 0 or 100 level(depending on how u drew it) from that sr.... u can also see it as a test of the 109.30 level there is always possibility of penetration without a break.... many ways to see the same thing
  • #57,509
  • Jan 7, 2008 2:32am Jan 7, 2008 2:32am
Quoting Rocroy
If UJ retraces to 50 fib level (111.xx), and if GU stays pretty stable a day or two (there is a good support at 1.9655), that would mean at least a 200-300 upswing for GJ. So i'm long biased.

R

hey R nice to see ya again.... would love to see one of your charts with those pretty tls that u and i love so much?
  • #57,510
  • Jan 7, 2008 2:44am Jan 7, 2008 2:44am
yep, here we are again...

waiting for gj to climb to 220.80

R


Quoting dagoods
hey R nice to see ya again.... would love to see one of your charts with those pretty tls that u and i love so much?
  • #57,511
  • Jan 7, 2008 2:56am Jan 7, 2008 2:56am
Quoting Rocroy
yep, here we are again...

waiting for gj to climb to 220.80

R

I agree, but I would like to see a nice 4 hour candle open and close above the 216.50 first.

Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #57,512
  • Jan 7, 2008 3:07am Jan 7, 2008 3:07am
Quoting Rocroy
dagoods, have you drawn your fibs, what do they say? Is it time for a short retrace now?

methinkd forexnovice is a genius is all i have to say about that

if the uj can push past that 109.30 -109.53 area and up AND GU holds the line at her 1.965 support we are in business.... looks very possible...then my previous post targets are still at 216.32 and then possibly if she blows through there then 219.29 or thereabouts ..... but u never know with the beast shes a tricky one.... of course if these things dont happen.... then we all reevaluate..... fibs are not my specialty ask pc or someone else who is better at that i am still learning fibs.....
  • #57,513
  • Jan 7, 2008 3:19am Jan 7, 2008 3:19am
ok, i just thought that you've been practicing with fibs lately

R

Quoting dagoods
methinkd forexnovice is a genius is all i have to say about that

if the uj can push past that 109.30 -109.53 area and up AND GU holds the line at her 1.965 support we are in business.... looks very possible...then my previous post targets are still at 216.32 and then possibly if she blows through there then 219.29 or thereabouts ..... but u never know with the beast shes a tricky one.... of course if these things dont happen.... then we all reevaluate..... fibs are not my specialty ask pc or someone else who is better at that i am still learning fibs.....
  • #57,514
  • Jan 7, 2008 3:23am Jan 7, 2008 3:23am
Quoting Rocroy
ok, i just thought that you've been practicing with fibs lately

R

i have but......... lol......... like asking the lawyer that just passed his bar yesterday..... know what i mean.....

still trading trendlines and s/r trying to incorporate fibs as extra confirmation and for targets..... i could draw a million fibs but.......... lol
  • #57,515
  • Jan 7, 2008 3:28am Jan 7, 2008 3:28am
Thank you for the kind words Dagoods. I agree I am as much of a Genius as are you, Aus, M2b and all the other great traders that participate in this Forum.

Now dang it man! and get back to trading!

GU gave a nice bottom @1.9653. Missed my buy limit @1.9650 by 3 pips!!.
  • #57,516
  • Jan 7, 2008 3:35am Jan 7, 2008 3:35am
... but when you practice you'll notice that they very often give you the same result (not exactly but close), like for instance if you try to find out the target of gj's today's upmove (where the price is now, did not actually retrace much)

pick up the most obvious one of the previous price movements for drawing you fibs, switching to a higher tf is sometimes useful...

R

Quoting dagoods
i have but......... lol......... like asking the lawyer that just passed his bar yesterday..... know what i mean.....

still trading trendlines and s/r trying to incorporate fibs as extra confirmation and for targets..... i could draw a million fibs but.......... lol
  • #57,517
  • Jan 7, 2008 3:35am Jan 7, 2008 3:35am
Quoting jarroo
I agree, but I would like to see a nice 4 hour candle open and close above the 216.50 first.

Jim
Yep. Looking more like a bearish flag on 4hr so far.
  • #57,518
  • Jan 7, 2008 3:37am Jan 7, 2008 3:37am
Quoting forexnovice
Thank you for the kind words Dagoods. I agree I am as much of a Genius as are you, Aus, M2b and all the other great traders that participate in this Forum.

Now dang it man! and get back to trading!

GU gave a nice bottom @1.9653. Missed my buy limit @1.9650 by 3 pips!!.

bummer dude! i have nothing to trade right now....just waitng to collect more pips or get out....

hers a chart i havent done one of these in a while..... what this means? who knows!
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  • #57,519
  • Jan 7, 2008 3:41am Jan 7, 2008 3:41am
Quoting Rocroy
... but when you practice you'll notice that they very often give you the same result (not exactly but close), like for instance if you try to find out the target of gj's today's upmove (where the price is now, did not actually retrace much which could indicate a fairly strong upmove)

pick up the most obvious one of the previous price movements for drawing you fibs, switching to a higher tf is sometimes useful...

R

thanks r.... yeah i was noticing that the fib stuff always seemed to line up with the trendline trading very neatly.... its all the same s/r being used so different systems to same results i guess.... but still helpful to see confirmation and get more precise targets etc.... fibs are worth learning i think.... thanks for the tips!
  • #57,520
  • Jan 7, 2008 3:55am Jan 7, 2008 3:55am
Guppy and cable are both ranging without any real direction this morning so I'm looking to the technical aspects in USDJPY to provide some excitement. The horizontal(ish) blue line has been validated several times since Jan 2nd when the strengthening of the Yen stalled. The downward sloping TL was finally violated earlier today suggesting the downmove could be over and a retracement is on the cards but I'll be looking for the break of the horizontal line for confirmation. The upward sloping TL has held 3 times so far but if broken will signify that a short trade (at least in the v. short term) could yield pips.

Should see some action in the next couple of hours.
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