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

  • #59,241
  • Jan 15, 2008 5:59pm Jan 15, 2008 5:59pm
Quoting PipChick
You guys know me..lol..Sell the RALLIES!! I learned that the hard way.
Here are some prices to keep in mind that may stop any longs or even be a place to short. 209.97 was the bottom where it turned and ran up 200 pips, 210.73 and 211.94.These hard bounces will prolly act as pretty strong resistance.
  • #59,242
  • Jan 15, 2008 6:04pm Jan 15, 2008 6:04pm
Quoting PipChick
Here are some prices to keep in mind that may stop any longs or even be a place to short. 209.97 was the bottom where it turned and ran up 200 pips, 210.73 and 211.94.These hard bounces will prolly act as pretty strong resistance.

thanks pc.... will watch those areas!
  • #59,243
  • Jan 15, 2008 6:09pm Jan 15, 2008 6:09pm
Quoting dagoods
thanks pc.... will watch those areas!
Time to walk the fib on the 1 hr. Leave the old one and add todays hi to lo.
  • #59,244
  • Jan 15, 2008 6:15pm Jan 15, 2008 6:15pm
Quoting PipChick
Time to walk the fib on the 1 hr. Leave the old one and add todays hi to lo.

hey pc thanks for helping me with fibs.... do you fib the prior weekly candle or do u fib swing? and daily also...do you work fo yeterdays candle or a swing? and then you move the one hour now becasue of why? thanks in advance
  • #59,245
  • Jan 15, 2008 6:29pm Jan 15, 2008 6:29pm
auslanco said we are supposed to have a large correction from this area,....what do you all think about that?
  • #59,246
  • Jan 15, 2008 6:30pm Jan 15, 2008 6:30pm
Quoting dagoods
hey pc thanks for helping me with fibs.... do you fib the prior weekly candle or do u fib swing? and daily also...do you work fo yeterdays candle or a swing? and then you move the one hour now becasue of why? thanks in advance
I only fib swings. I fib todays swing on the hr chart and I leave the daily and weekly fibs alone until I run out and then I will fib the most recent swing.
  • #59,247
  • Jan 15, 2008 6:32pm Jan 15, 2008 6:32pm
Quoting doughboi
auslanco said we are supposed to have a large correction from this area,....what do you all think about that?
If we get a swing lo on the 4 hr chart when the next candle opens then you can fib the 4 hr from the hi on 1/8 to todays lo.
  • #59,248
  • Jan 15, 2008 6:33pm Jan 15, 2008 6:33pm
Quoting doughboi
auslanco said we are supposed to have a large correction from this area,....what do you all think about that?
A large correction to where?

I can see it possibly getting to the 61.8 of todays move at 210.80 then maybe coming back to the 38.2 to form an abc pattern for a larger move up.

Depends on the news too.
  • #59,249
  • Jan 15, 2008 6:37pm Jan 15, 2008 6:37pm
Quoting doughboi
auslanco said we are supposed to have a large correction from this area,....what do you all think about that?
Could be...off of that support area, we could easily get a large correction. Did he say anything else, or just that we should see a correction? In any case, that's just a better price to short again from
I dream, therefore I become.
  • #59,250
  • Jan 15, 2008 6:38pm Jan 15, 2008 6:38pm
Quoting mike w
Could be...off of that support area, we could easily get a large correction. Did he say anything else, or just that we should see a correction? In any case, that's just a better price to short again from
Im with you there Mike.
  • #59,251
  • Jan 15, 2008 6:40pm Jan 15, 2008 6:40pm
A possibility. . .
Attached Image (click to enlarge)
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  • #59,252
  • Jan 15, 2008 6:43pm Jan 15, 2008 6:43pm
Quoting PipChick
A large correction to where?

I can see it possibly getting to the 61.8 of todays move at 210.80 then maybe coming back to the 38.2 to form an abc pattern for a larger move up.

Depends on the news too.
well, he said usd/jpy is expected to hit 108.48

he did not say anything about where he though gbp/jpy was headed,

but he did say he expected a large correction from both of these pairs at this level.
  • #59,253
  • Jan 15, 2008 6:46pm Jan 15, 2008 6:46pm
Quoting doughboi
well, he said usd/jpy is expected to hit 108.48

he did not say anything about where he though gbp/jpy was headed,

but he did say he expected a large correction from both of these pairs at this level.
Excellent, more opportunity. Life is gooood!
I dream, therefore I become.
  • #59,254
  • Jan 15, 2008 6:49pm Jan 15, 2008 6:49pm
Quoting mike w
Excellent, more opportunity. Life is gooood!
lol,.....yea, regardless to where this thing goes, i will be shorting the hell out of it,.....now all is left is to pick the best areas to do so.
  • #59,255
  • Jan 15, 2008 6:53pm Jan 15, 2008 6:53pm
Quoting doughboi
well, he said usd/jpy is expected to hit 108.48

he did not say anything about where he though gbp/jpy was headed,

but he did say he expected a large correction from both of these pairs at this level.
TY doughboi!
  • #59,256
  • Jan 15, 2008 6:54pm Jan 15, 2008 6:54pm
Quoting doughboi
lol,.....yea, regardless to where this thing goes, i will be shorting the hell out of it,.....now all is left is to pick the best areas to do so.
I agree. But I was going to go to bed tonight..lol
Looks like I better keep an eye open for a short opportunity.
  • #59,257
  • Jan 15, 2008 6:56pm Jan 15, 2008 6:56pm
Quoting doughboi
lol,.....yea, regardless to where this thing goes, i will be shorting the hell out of it,.....now all is left is to pick the best areas to do so.
Yep, and Pipchick gave us a pretty solid set of areas that would make for good shorting opportunities. Thanks for that Pipchick! Personally, 212 looks like it would be the absolute top, but then again this is FX so we'll just see if and when we get there.
I dream, therefore I become.
  • #59,258
  • Jan 15, 2008 6:56pm Jan 15, 2008 6:56pm
Another thing to be reminded of is that we are still in a downwards channel and so we could just test the top of it and then drop again.
I dream, therefore I become.
  • #59,259
  • Jan 15, 2008 6:57pm Jan 15, 2008 6:57pm
just fibbing the last week candle this is what i see

yu all be the judge...but 213.96 would be a 38 retrace? possible? i dont know but i will watch 209.58 38 retrace of current candle and then 211.63 61 retrace and if we break above that then maybe.... but these are only possibilities trade your own plans PS weekly target was reached and bounced from... (i think, still learning fibs) ....well see
Attached Image (click to enlarge)
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  • #59,260
  • Jan 15, 2008 7:01pm Jan 15, 2008 7:01pm
Quoting dagoods
just fibbing the last week candle this is what i see

yu all be the judge...but 213.96 would be a 38 retrace? possible? i dont know but i will watch 209.58 38 retrace of current candle and then 211.63 61 retrace and if we break above that then maybe.... but these are only possibilities trade your own plans PS weekly target was reached and bounced from... (i think, still learning fibs) ....well see
Interresting. I will keep those prices in mind. The weekly fib seems to work nicely from what I have read.
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