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

  • #62,081
  • Feb 17, 2008 3:31pm Feb 17, 2008 3:31pm
Quoting fx4life
Do anyone have this gap I see on my chart? The one GU is even bigger.
On Metatrader the gap is there but Oanda gives you a clearer view of what happens on the weekend. I have an Oanda demo account to see what happens before the open on Sunday.
Attached Image (click to enlarge)
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  • #62,082
  • Feb 17, 2008 3:32pm Feb 17, 2008 3:32pm
Quoting kujo17
yes, it opened lower than the close on Friday.
Closed 211.35 opened 210.99
Thanks, I was thinking I was the only one seeing it.
  • #62,083
  • Feb 17, 2008 3:57pm Feb 17, 2008 3:57pm
Quoting kujo17
I'm in total agreement with your karmo.
I just think we'll see the mid 208's on this push down, before turning around, early to mid week.
Im thinking short also. Maybe to 209.15 or lower depending on the pending pattern.
  • #62,084
  • Feb 17, 2008 4:06pm Feb 17, 2008 4:06pm
Quoting jarroo
One thing that good S/R levels have in common is a good history. That history can be on the weekly, Daily, 4 hour or even the hourly. Higher the time frame the better.
Check out the 211.15-25 level on the weekly. Just something to keep in mind.

Jim
Just a reminder, S/R level 211.15-25ish area has a good history.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #62,085
  • Feb 17, 2008 4:08pm Feb 17, 2008 4:08pm
4hr GBP/USD.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hrgbp.gif Size: 22 KB
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #62,086
  • Feb 17, 2008 4:09pm Feb 17, 2008 4:09pm
Quoting PipChick
Im thinking short also. Maybe to 209.15 or lower depending on the pending pattern.
209.7 is my initial TP from 213, 212, 211.

But, as price gets closer to that, I may move TP to 208.80, which is just above S2 and also the 161.8 fib extension of that last push down.

208.45 was a strong S/R area.
  • #62,087
  • Feb 17, 2008 4:23pm Feb 17, 2008 4:23pm
Quoting moneymagnet
4hr GBP/USD.
Yes mm..I see that too. We may have some fun this week!! Gbp/chf looks good too.
  • #62,088
  • Feb 17, 2008 4:48pm Feb 17, 2008 4:48pm
Quoting PipChick
Yes mm..I see that too. We may have some fun this week!! Gbp/chf looks good too.
GBP/CHF is one I've been looking at the last two weeks as well.
For right now, I'm still committed to only the Beast, but may branch over there well for some different scenery....
  • #62,089
  • Feb 17, 2008 4:55pm Feb 17, 2008 4:55pm
yea right, budgetary constraints. Sort of like it was just too damn expensive to let people know what the M3 money supply numbers were.

Due to budgetary constraints, the Economic Indicators service (http://www.economicindicators.gov) will be discontinued effective March 1, 2008.
  • #62,090
  • Feb 17, 2008 7:05pm Feb 17, 2008 7:05pm
I hope nobody loses pips today
Trade what you see, not what you think.
  • #62,091
  • Edited 8:01pm Feb 17, 2008 7:09pm | Edited 8:01pm
Quoting karmostaji
I hope nobody loses pips today
Its unfortunate that some people will have to.

You and I are on the same train, however. So...good luck to you!!

You still use Interbank FX??
  • #62,092
  • Feb 17, 2008 8:24pm Feb 17, 2008 8:24pm
Quoting PipChick
Yes mm..I see that too. We may have some fun this week!! Gbp/chf looks good too.
GBP/CHF A.K.A. BEAST II
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #62,093
  • Feb 17, 2008 8:31pm Feb 17, 2008 8:31pm
Quoting JasonGuillen
Its unfortunate that some people will have to.

You and I are on the same train, however. So...good luck to you!!

You still use Interbank FX??
Yep
Trade what you see, not what you think.
  • #62,094
  • Feb 17, 2008 10:56pm Feb 17, 2008 10:56pm
Quoting Pip Dream
If the Rightmove UK house prices (announced tonight 00:01 GMT) confirm the recent RICS survey which reported housing prices falling for the sixth straight month, we may see a sell off of the Pound. If there are signs that prices are stabilizing, investors may feel that the total UK economic picture may not be as bad and restore price action in the pounds favor. Either way, I do think this will have an influence on the direction tonight.

UK house prices are up a surprise 3.2% for Feb. With no other major UK/Japan/US economic news today I think this could possibly strengthen the pound during UK trading hours. We may see some down movement before 9am GMT but I think we could be moving up today. Not sure if the announcement of nationionalising Northern Rock will have any bearish effect though. Also, major UK banks begin announcing their 2007 results this week, starting with Barclays today. Again whether these results, good or bad, will have an effect I'm not sure, but I think overall there could be a move up today.
  • #62,095
  • Feb 17, 2008 11:37pm Feb 17, 2008 11:37pm
Quoting Pip Dream
UK house prices are up a surprise 3.2% for Feb. With no other major UK/Japan/US economic news today I think this could possibly strengthen the pound during UK trading hours. We may see some down movement before 9am GMT but I think we could be moving up today. Not sure if the announcement of nationionalising Northern Rock will have any bearish effect though. Also, major UK banks begin announcing their 2007 results this week, starting with Barclays today. Again whether these results, good or bad, will have an effect I'm not sure, but I think overall there could be a move up today.

After doing some further research on the Northern Rock nationalisation, it appears it could have more of a negative effect on sterling than I had first thought. I'm not so confident in a move up anymore, please ignore my previous view on todays movement as this could overshadow the positive house price news.
  • #62,096
  • Edited 11:57pm Feb 17, 2008 11:39pm | Edited 11:57pm
This is going to be text book as posted earlier.
After the 5 wave cycle down GJ should move up in 3 waves.

Cheers. . .
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  • #62,097
  • Feb 17, 2008 11:50pm Feb 17, 2008 11:50pm
Nice plan, Q.

This is what I'm looking at: A break of Support (210.90) or a break of Resistence (212.00).
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #62,098
  • Feb 17, 2008 11:55pm Feb 17, 2008 11:55pm
Quoting jarroo
Nice plan, Q.

This is what I'm looking at: A break of Support (210.90) or a break of Resistence (212.00).
Short at 210.88. Let's see what happens.
Indicators show the past. Price Action "Indicates" the future.
  • #62,099
  • Feb 18, 2008 12:01am Feb 18, 2008 12:01am
Quoting jarroo
Short at 210.88. Let's see what happens.
look 200 ema on hourly.
  • #62,100
  • Feb 18, 2008 12:03am Feb 18, 2008 12:03am
there is a strong barrier @ 210.60/50 level
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