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

  • #60,941
  • Feb 4, 2008 8:01pm Feb 4, 2008 8:01pm
Quoting dagoods
hey q i am eargerly awaiting your charts you promised to post earlier for FN

Hello dagoods =
Congrats on your 1k status my friend =

As for chart posting, hardly seems worth it in this thread anymore.

Cheers my friend. . .
  • #60,942
  • Feb 4, 2008 9:45pm Feb 4, 2008 9:45pm
I am taking a short here for 209.80, those in favour, raise your tails
  • #60,943
  • Feb 4, 2008 10:15pm Feb 4, 2008 10:15pm
I always look forward to your analysis and your reasoning behind it. If you stopped posting, I for one would miss it.
Regards, Bogus
Quoting quecee5
Hello dagoods =
Congrats on your 1k status my friend =

As for chart posting, hardly seems worth it in this thread anymore.

Cheers my friend. . .
FF journal: Peaks and Troffs
  • #60,944
  • Feb 4, 2008 10:30pm Feb 4, 2008 10:30pm
Quoting bogus
I always look forward to your analysis and your reasoning behind it. If you stopped posting, I for one would miss it.
Regards, Bogus
Bogus,

Thxs for your kind words I really appreciate it. . .

There are so many talented traders that frequent this thread, a lot of them whom I really look up to and enjoy their analysis.

However, as of late it seems that the thread has lost its focus. I would love to see this thread go back to what its best and widely known for and that's great discussion, analysis, teaching, learning and on occasion post that exhibit great sense of humor. . .

Sad to see such a great thread in the current state. . .

Just my 2 cents -

Cheers!

1st chart is a 1hr, 2nd is a 4hr chart. . .
If one takes the daily pivot in consideration a break and close below would see 209.28, which is daily s1 based on 4hr chart (bottom of the channel. . .)
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 4hr chart updated.gif Size: 26 KB
  • #60,945
  • Feb 4, 2008 10:43pm Feb 4, 2008 10:43pm
Really not much happening since market open, unless you like watching paint dry.

I am still short on one position will open another at 212.30 if we get there, as I think bulls will be limited to 212.30. 210.50 is tough support, we will break this wedge sometime. I am biased for a downward break once 210.50 gives. We did complete a 50% retrace of the last significant down thrust. That is bear food boys I want to see them lows retested.

I am still looking for only short trades, a close above 214.25 will change my mind though. A close above that and 217 is inevitable. 217 is the 50% retrace on this downtrend on the daily. We have completed the 38.2% retrace though.
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  • #60,946
  • Feb 4, 2008 10:55pm Feb 4, 2008 10:55pm
Quoting lepiricus
Really not much happening since market open, unless you like watching paint dry.

I am still short on one position will open another at 212.30 if we get there, as I think bulls will be limited to 212.30. 210.50 is tough support, we will break this wedge sometime. I am biased for a downward break once 210.50 gives. We did complete a 50% retrace of the last significant down thrust. That is bear food boys I want to see them lows retested.

I am still looking for only short trades, a close above 214.25 will change my mind though. A close above that and 217 is inevitable. 217 is the 50% retrace on this downtrend on the daily. We have completed the 38.2% retrace though.
this is great lep thanks! please post more often...some of us still learning need the help and we all start somewhere...and every thread has its silly arguements and such... i just ignore that sstuff and focus on the analysis.... i dont know how great this thread was in the beginning but i know i have learned a ton from quecee forexnovice fxpetra pipchick m2b aus himself...etc etc...mike w, karmo, etc etc all f you know who you are....

so big thanks to all of you

LETS KEEP THIS THREAD GREAT!!!
  • #60,947
  • Feb 5, 2008 12:29am Feb 5, 2008 12:29am
Hi Lep and others,

I'm starting to think that instead of going south, maybe it is time for GJ upmove...

GJ hit channel bottom, and is now moving up, though the current trendline probably gives a little bit too optimistic view of the uprise speed.

UJ has also come down a long way, without any decent retrace, and if it now retraces to 50 fib line, GJ will go up 500-600 pips. And if take a look at cable on daily chart, you'll notice that it is in a similar situation as UJ...

211.0 might be a good spot to go long?

Just my cents.

Quoting lepiricus
Really not much happening since market open, unless you like watching paint dry.

I am still short on one position will open another at 212.30 if we get there, as I think bulls will be limited to 212.30. 210.50 is tough support, we will break this wedge sometime. I am biased for a downward break once 210.50 gives. We did complete a 50% retrace of the last significant down thrust. That is bear food boys I want to see them lows retested.

I am still looking for only short trades, a close above 214.25 will change my mind though. A close above that and 217 is inevitable. 217 is the 50% retrace on this downtrend on the daily. We have completed the 38.2% retrace though.
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #60,948
  • Feb 5, 2008 12:30am Feb 5, 2008 12:30am
Seems to be respecting the downtrend line. It's been a long boring day so far. I'm waiting for a meaningful break, whichever way it decides to go.
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FF journal: Peaks and Troffs
  • #60,949
  • Feb 5, 2008 2:24am Feb 5, 2008 2:24am
Quoting bill77
Hi pip dream i only came back to this thread to see if my old mates are back. no intentions on staying. My intensions were not to ofend but say my thoughts (and mabe used bad words or examples). But this thread is called auslanco-gbp/jpy thread. Now he has left and the rest are taking over asuming using his teachings. that is kind of what hyinas do after the lion has finished with there kill. (oops bad example again) but guys, you need thicker skin. but enough said on this, and no mater what you reply to this no more would be said from me. good luck in your trading pip and the most important thing is i sincerely hope you all, succeed and live hapy lives.

just remember, God loves you no mater what others think.
God Bless you too mate!

I disagree on the scavenger bit. This post on Skunny's thread aptly sums up my thoughts http://www.forexfactory.com/showpost...postcount=3139 .

Back to GJ, there seems to be a valid long signal based on AUS' 4hr/1hr strategy. Daily QQE 5 & 4hr QQE 5 have crossed up. 1hr QQE 5 crossed up 2 hrs ago with the 1hr candle forming above the Gann HiLo. Since all three are pointing north, TP can be set to 300 pips & SL 100pips. Now where are my Patience pills
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Attached Images
  • #60,950
  • Feb 5, 2008 2:25am Feb 5, 2008 2:25am
What is it that keeps this thread going? Are you people racking up the pips, or still looking for a way to trade?
  • #60,951
  • Feb 5, 2008 3:06am Feb 5, 2008 3:06am
upon aus startegy we should buy now with 200-300 pips tp and 100 pips sl.
but see the below chart:
we are in down ward channel yet.

p.s:i appreciate any one give opinions
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  • #60,952
  • Feb 5, 2008 3:23am Feb 5, 2008 3:23am
Quoting shahroodi
upon aus startegy we should buy now with 200-300 pips tp and 100 pips sl.
but see the below chart:
we are in down ward channel yet.

p.s:i appreciate any one give opinions
I would consider the downtrend channel drawn using the pink lines as valid since price was trading within the Support/resistance zones of the channel. Channel drawn using aquamarine lines is invalid imo.
  • #60,953
  • Feb 5, 2008 3:29am Feb 5, 2008 3:29am
Quoting forexnovice
I would consider the downtrend channel drawn using the pink lines as valid since price was trading within the Support/resistance zones of the channel. Channel drawn using aquamarine lines is invalid imo.
tks mate
appreciated
but a question??
why aqua channel is unvalid???
form 25/01/008 price ranged between this channel's lines.
tks again
  • #60,954
  • Feb 5, 2008 3:43am Feb 5, 2008 3:43am
Quoting shahroodi
upon aus startegy we should buy now with 200-300 pips tp and 100 pips sl.
but see the below chart:
we are in down ward channel yet.

p.s:i appreciate any one give opinions

There may be 4h correction up to 1d-chnl's upper line
http://www.tradingrooms.com/chartpos...5200894051.png
  • #60,955
  • Edited 4:00am Feb 5, 2008 3:44am | Edited 4:00am
Quoting shahroodi
tks mate
appreciated
but a question??
why aqua channel is unvalid???
form 25/01/008 price ranged between this channel's lines.
tks again
Price made a clear breakout from the aquamarine lines and traded below it for some time. That is why we cant call it a channel.

Definition of channel: The technical range between support and resistance levels that price has traded in for a specific period of time.
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  • #60,956
  • Feb 5, 2008 3:50am Feb 5, 2008 3:50am
Quoting forexnovice
Price made a clear breakout from the 4hr channel.
Price made a clear breakout from the 4hr channel.
but on 1d chart it bounced frm 4h chnl lower line

http://www.tradingrooms.com/chartpos...5200894942.png
  • #60,957
  • Feb 5, 2008 4:04am Feb 5, 2008 4:04am
Quoting shahroodi
upon aus startegy we should buy now with 200-300 pips tp and 100 pips sl.
but see the below chart:
we are in down ward channel yet.

p.s:i appreciate any one give opinions
We're still in a downtrend. See my post:

The following chart shows GBP/JPY at the top of channel from 27th December (when we were already in a downtrend).

http://www.forexfactory.com/attachme...1&d=1202204539

GBP .25 rate cut due. It should be 0.5 but they're keeping their powder dry and anti inflationary. There will be more.

Add to this - Japan has no room to cut rates - who will be the next US president? - and we don't have a recipe for a souffle. LOL...
Gone to a better place
  • #60,958
  • Feb 5, 2008 5:05am Feb 5, 2008 5:05am
IMO

Technically GJ should go up
Fundamentally GJ should continue downwards

who will win? nobody knows.
Trade what you see, not what you think.
  • #60,959
  • Feb 5, 2008 5:42am Feb 5, 2008 5:42am
Won't you guys have longs at 1 hr 5 SMA?
go go go
  • #60,960
  • Feb 5, 2008 5:44am Feb 5, 2008 5:44am
Quoting karmostaji
IMO

Technically GJ should go up
Fundamentally GJ should continue downwards

who will win? nobody knows.
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