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

  • #59,541
  • Jan 17, 2008 10:04am Jan 17, 2008 10:04am
Quoting Rustyyy
Hey queen of Head and Shoulders ! Is that an inverse H/S in process on 4 HR ?

You are the best at these setups.

By the way what happened to your thread...I think "technical analysis" ???
Well TY Rusty! I just did some analysis. I will post it.
  • #59,542
  • Jan 17, 2008 10:07am Jan 17, 2008 10:07am
last 4 hour candle closed a bit bullish looking......
  • #59,543
  • Jan 17, 2008 10:10am Jan 17, 2008 10:10am
This has the potential of moving to high 212 region based on MA but 212.48 is a pivot resistence so we'll see. I got out of my trade with negative pips sucks but oh well thats life.
  • #59,544
  • Jan 17, 2008 10:12am Jan 17, 2008 10:12am
double top formed earlier at 212.37. looks like a triple top is possible now.....
Standing aside here......
  • #59,545
  • Jan 17, 2008 10:14am Jan 17, 2008 10:14am
There is an upward 300 pip channel on the 1 hr chart. The NL on the inverse h/s was barely breached. On the 4 hr we also have an inverse h/s with the rt shoulder at 209.41 which is where price bounced hard from during London. The channel is a 500 pip downward sloping channel.(4 hr) Problem with this inverse is that the NL is sloping upwards instead of downwards which makes this a little less reliable.

The price may keep pulling back to the 209.41 area or a little higher as the 1 hr channel rises in order to give enough steam to break the 4 hr NL and also the 213.41 consolodation period on the daily chart. If it breaks the 209.41, then it is possible for the price to gravitate to the bottom of the 4 hr channel.

I would tend more to buying at the bottom of the 1 hr channel anticipating the NL break ont he 4 hr. If we buy there and the price penetrates the 209.41 then we know to exit and reverse. Lo risk trade.

If we dont get the opportunity to buy off the bottom of the channel, we can wait for a break of 213.41 then a pullback to the 200 ema on the 1 hr to buy.
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  • #59,546
  • Jan 17, 2008 10:26am Jan 17, 2008 10:26am
Quoting mike w
212 is still holding as resistance. Nothing has changed from a couple days back.

spidey senses say it 212.2 may not hold and 213.42 (original mouteki/demark target) may be in play

of course spidey is often wrong lol
  • #59,547
  • Jan 17, 2008 10:43am Jan 17, 2008 10:43am
Quoting dagoods
spidey senses say it 212.2 may not hold and 213.42 (original mouteki/demark target) may be in play

of course spidey is often wrong lol
Thats what I am thinking dagoods
  • #59,548
  • Jan 17, 2008 10:45am Jan 17, 2008 10:45am
Quoting mike w
212 is still holding as resistance. Nothing has changed from a couple days back.
Continuing to build shorts on any rally in this bear market. . .
  • #59,549
  • Jan 17, 2008 10:56am Jan 17, 2008 10:56am
Yen is showing strength right now due to risk aversion---but this cannot last in my opinion. Why? Because just like US and Britian, Japan's econonmy stinks!! They would cut rates if they could....but since they are at .50 right now they have to keep their powder dry until it gets really bad!!! Right now yen has joined the dollar and pound in competition for the worlds least desirable currency. While I am not calling a GJ bottom, I will be a buyer If we go under 208 again. From a fundamental perspective, I believe we will see 220 area before we break 200. There is an incredible amount of bad news, gloom, and doom baked into these prices.
  • #59,550
  • Jan 17, 2008 10:59am Jan 17, 2008 10:59am
hope u guys stops are above 13.10 ish area cuz here it comes
"Millionaires don't use astrology, billionaires do"
  • #59,551
  • Jan 17, 2008 11:43am Jan 17, 2008 11:43am
Quoting OrionsWay
hard to say, once through 8 have to see the action (daily) at the 21 ema, my guess it wont be much trouble for to me it seems like accumulation going on atm, could probably target the 89 sma safely enough LIKE u said. the reactions are the key at these points me thinks to give further insights. My belief is this is a LONG for some time like end of Feb at least, but need to watch how it unfolds. the wave pattern isnt very clear to me. Long from bottom and booked a ton already so gonna just letter rip. Add of the daily signs and see what happens. Could become very short lived as well. Just never know the psychology which is forever changing

thanks for the insight!
Fear's for the other guy
  • #59,552
  • Jan 17, 2008 11:46am Jan 17, 2008 11:46am
Quoting PipChick
Thats what I am thinking dagoods

wish bernakke would shut up already lol he ruins everything!
  • #59,553
  • Jan 17, 2008 11:52am Jan 17, 2008 11:52am
Do You People Sleep. Geesh!:d
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #59,554
  • Jan 17, 2008 11:53am Jan 17, 2008 11:53am
Quoting dagoods
wish bernakke would shut up already lol he ruins everything!
1000% right
  • #59,555
  • Jan 17, 2008 11:55am Jan 17, 2008 11:55am
Quoting lepiricus
Not sure bro, I thought we would bounce from 208 yesterday so I bought from 208 with a stop below 205. I thought we might get to 205 before 210, but I am not complaining. I did change my 1st tp to 212.20 instead of 213 and have locked in +100 so far.

My u/j target of 107.60 hit today where I bought from 106.20. It was unfortunately only $0.10 pips though. My money management wouldn't allow for more risk. As I have a ton of open trades at the moment.
Well my TP hit and I banked 420 pips on that one, I am without position now, but looking for buys. 210.00 area is looking mighty tasty to buy at a discount as I think this ship is turning bullish. I am not ruling out 205 though.
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  • #59,556
  • Jan 17, 2008 11:58am Jan 17, 2008 11:58am
Awesome Lep!
  • #59,557
  • Jan 17, 2008 1:51pm Jan 17, 2008 1:51pm
Looks like DOW is no longer controlling GJ today. Its down -229 and GJ is still around 211.00. Correlation is gone again. Might see 213 later based on Daily Pivot. price may reach 5 SMA high on Daily once NY session is out of the way
  • #59,558
  • Jan 17, 2008 2:25pm Jan 17, 2008 2:25pm
A couple of charts for you. . .
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  • #59,559
  • Jan 17, 2008 2:33pm Jan 17, 2008 2:33pm
Thanks, Q looks at the price action right now looks like we might be heading south before heading up again maybe to the 5SMA low area. Is my analysis correct about the price action or am I completely off track?
  • #59,560
  • Jan 17, 2008 2:50pm Jan 17, 2008 2:50pm
Quoting vinesh2
Thanks, Q looks at the price action right now looks like we might be heading south before heading up again maybe to the 5SMA low area. Is my analysis correct about the price action or am I completely off track?

That's what I see = , That's why I'm short up top @ 212.30. . .
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