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

  • #57,521
  • Jan 7, 2008 3:55am Jan 7, 2008 3:55am
Quoting dagoods
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!
Similar to what Jarroo said, an open and close out of this channel and a close above 23.6 fib will be good for longs till 50 fib imo.
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  • #57,522
  • Jan 7, 2008 3:58am Jan 7, 2008 3:58am
Quoting birdt
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.

so basically we want this baby to close above 109.5(3) and we are good to go? thanks birdt!
  • #57,523
  • Jan 7, 2008 4:00am Jan 7, 2008 4:00am
Quoting forexnovice
Similar to what Jarroo said, an open and close out of this channel and a close above 23.6 fib will be good for longs till 50 fib imo.


i'm with ya there just got there a bit different! (had a previous chart with a fib on it imagine that!)
  • #57,524
  • Jan 7, 2008 4:12am Jan 7, 2008 4:12am
Quoting dagoods
so basically we want this baby to close above 109.5(3) and we are good to go? thanks birdt!
Long or short it makes no difference to me, as long as it's not sideways! GBPUSD is moving down and USDJPY is rallying, cancelling eachother out on GBPJPY.

A retrace does appear likely for GBPJPY, after a 4.4% drop last week and certain fib extension targets have been hit suggesting significant support exists at 213.45.

USDJPY is on the brink.............
  • #57,525
  • Jan 7, 2008 4:13am Jan 7, 2008 4:13am
Quoting forexnovice
Similar to what Jarroo said, an open and close out of this channel and a close above 23.6 fib will be good for longs till 50 fib imo.

my spidey senses tell me more and more to just follow forexnovice advice

check it dude like u said earlier 1.9680 loks like strong support for gu...well NOW finally later after u said it...my chart shows me that!

and uj looks to me like shes gonna break up more to 111.25 area.... i think we may be good to go....but your 50 fib target is a bit aggressive for me.... i still like my 219.x (38 fib on monthly from my previous chart) but you are the psychic so.... lol of course i could be wrong.... but it certainly looks good from where i am sitting.....
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  • #57,526
  • Jan 7, 2008 4:23am Jan 7, 2008 4:23am
Quoting dagoods
my spidey senses tell me more and more to just follow forexnovice advice

check it dude like u said earlier 1.9680 loks like strong support for gu...well NOW finally later after u said it...my chart shows me that!

and uj looks to me like shes gonna break up more to 111.25 area.... i think we may be good to go....but your 50 fib target is a bit aggressive for me.... i still like my 219.x (38 fib on monthly from my previous chart) but you are the psychic so.... lol of course i could be wrong.... but it certainly looks good from where i am sitting.....
My Fibonacciman senses tell me GJ should be a good sell around 61.8 - 78.6 fib on 4hr. Just bought GU as it bounced off the 50 fib on 15min charts.
  • #57,527
  • Jan 7, 2008 4:27am Jan 7, 2008 4:27am
just my 2 cents.

UJ is capped by a 109.75 line (very obvious on the 30mins charts). For GJ to rally, UJ has to break to the upside, through 109.75.

However, theres a chance UJ to break into bearish mode. (if it breaks the ascending trendline)
  • #57,528
  • Jan 7, 2008 4:27am Jan 7, 2008 4:27am
Quoting forexnovice
My Fibonacciman senses tell me GJ should be a good sell around 61.8 - 78.6 fib on 4hr. Just bought GU as it bounced off the 50 fib on 15min charts.

y u gots to tease me like that? u know i am still learning fibs! can i see the chart? ( ithought u meant 50 fib on monthly! i am condused on your fibs

please share!

PS bought gu too! lol
  • #57,529
  • Jan 7, 2008 4:31am Jan 7, 2008 4:31am
Quoting dagoods
my spidey senses tell me more and more to just follow forexnovice advice

check it dude like u said earlier 1.9680 loks like strong support for gu...well NOW finally later after u said it...my chart shows me that!

and uj looks to me like shes gonna break up more to 111.25 area.... i think we may be good to go....but your 50 fib target is a bit aggressive for me.... i still like my 219.x (38 fib on monthly from my previous chart) but you are the psychic so.... lol of course i could be wrong.... but it certainly looks good from where i am sitting.....

telll me tom demark is not a genius look at that bounce!
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  • #57,530
  • Edited 4:38am Jan 7, 2008 4:33am | Edited 4:38am
Quoting dagoods
y u gots to tease me like that? u know i am still learning fibs! can i see the chart? ( ithought u meant 50 fib on monthly! i am condused on your fibs

please share!

PS bought gu too! lol
Sorry Bro! I was referrring to the Daily GJ chart posted earlier. Right now I am scalping GU for 15-40 pips on the long side. One GU long is open from last week with 1.99 as target. Here is the 15min GU chart.
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  • #57,531
  • Jan 7, 2008 4:34am Jan 7, 2008 4:34am
Quoting anyhowtrade
just my 2 cents.

UJ is capped by a 109.75 line (very obvious on the 30mins charts). For GJ to rally, UJ has to break to the upside, through 109.75.

However, theres a chance UJ to break into bearish mode. (if it breaks the ascending trendline)
i see a pinbar on 30 min but that just means she will realod for her push up to me..... i can handle the 30 min drawdown.... can i see YOUR chart if you see something diffrent please
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  • #57,532
  • Jan 7, 2008 4:39am Jan 7, 2008 4:39am
Quoting forexnovice
Sorry Bro! I was referrring to the 4hr GJ chart posted earlier. Right now I am scalping GU for 15-40 pips on the long side. One GU long is open from last week with 1.99 as target. Here is the 15min GU chart.




iEXCELLENT but know that there is a monthly 38 fib at 219.3 so target of 219.15 on your chart would be a double whammy......
  • #57,533
  • Jan 7, 2008 4:39am Jan 7, 2008 4:39am
This chart helps confirm what I posted last night (#57473). 4H bullish divergence has crossed on the MACD. I have posted in the past that divergence on the 4H chart yields anywhere from 300 to 1000 pips. The average range is 500 to 700 pips on this kind of setup. 700 pips from the recent low at 213.47 would take us to 220.47 which is right around the 38.2 Fib of the last major move down as shown on the 4H chart, and is also right at the 50EMA on the 4H chart. Notice also that Stochastics is only at the 50 line which means it has lots of room to move up before becoming OB. I would be very surprised if we didn't see 220 this week. Gotta run. I'll be back later.

M2B
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  • #57,534
  • Jan 7, 2008 4:41am Jan 7, 2008 4:41am
the uptrend has been capped by a 109.75 resistance line that has been tested a couple of times. however a upward rising trendline acting as support can also be seen.

comments pls!
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  • #57,535
  • Jan 7, 2008 4:44am Jan 7, 2008 4:44am
Quoting dagoods



iEXCELLENT but know that there is a monthly 38 fib at 219.3 so target of 219.15 on your chart would be a double whammy......
There is some confusion here. Could you post GJ chart with fibs drawn.
  • #57,536
  • Jan 7, 2008 4:58am Jan 7, 2008 4:58am
Quoting forexnovice
There is some confusion here. Could you post GJ chart with fibs drawn.

every fib i could find from monthly to 4 hour! lmao!

:
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  • #57,537
  • Jan 7, 2008 5:07am Jan 7, 2008 5:07am
Quoting birdt
Long or short it makes no difference to me, as long as it's not sideways! GBPUSD is moving down and USDJPY is rallying, cancelling eachother out on GBPJPY.

A retrace does appear likely for GBPJPY, after a 4.4% drop last week and certain fib extension targets have been hit suggesting significant support exists at 213.45.

USDJPY is on the brink.............
uj trying to trick us now! comon uj u can do it! you are a trooper! dont drop below that 109.53 level you know u want to close above that! go uj go!
  • #57,538
  • Jan 7, 2008 5:12am Jan 7, 2008 5:12am
gj needs to break this here tl ..... if not we range or go down... bummer.... if she does get through then its smooth sailing!
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  • #57,539
  • Jan 7, 2008 5:35am Jan 7, 2008 5:35am
eh, imo you could try to reduce a little those fibs...

here's the 161 fib level (the st target) i was referring to in my earlier post... and one longer tf fib - that's all you need, i think ... and a couple of tls

R

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Quoting dagoods
every fib i could find from monthly to 4 hour! lmao!

:
  • #57,540
  • Jan 7, 2008 5:36am Jan 7, 2008 5:36am
Quoting dagoods
every fib i could find from monthly to 4 hour! lmao!

:
Took me some time to figure out that Jungle of Fibs. Seriously though, take a look at PC's Monthly GJ chart posted earlier and the daily I posted.
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