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

Quoting mike w

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Your in the middle of a hill. Which way is easier to go, up or down? lol I really have no idea, I just let it roll and I roll with it. Some things are questionable, but I don't let that get in between me and profit. I've wondered this for a long time too, an explanation would be dandy. I think it's because there is more selling pressure than there is buying pressure (for this pair), and that is why it happens like that. The big players are more than likely still short from the top. Big players move the market so that's the only way I could see that happening.

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Quoting arezab

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I've been watching the movement pattern of this pair for a while. There is an interesting point I noticed that GJ moves down much faster and sharper than moving up. I'm curious to know the reason behind it and what causes that this pair raises comparatively slower and it happens in longer time but when it wants to fall, it falls like a waterfall.

Is it because of Risk Aversion, Carry Trade Unwinding or because of weakness of Yen compared to Cable and the huge difference between the value of these two currencies?

Can someone enlighten me about that?

Thanks

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Quoting arezab

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Thanks mike ...

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Quoting alsup1955

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Well, think about it. Is it easier to walk up hill or down hill. Gravity man!
Look at it like a giant egg. Pushing it up on its end would be tough, but once u got past the verital plane graivty takes over and it falls like a rock thru a wet paper bag.....................

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Quoting mike w

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Your in the middle of a hill. Which way is easier to go, up or down? lol I really have no idea, I just let it roll and I roll with it. Some things are questionable, but I don't let that get in between me and profit. I've wondered this for a long time too, an explanation would be dandy. I think it's because there is more selling pressure than there is buying pressure (for this pair), and that is why it happens like that. The big players are more than likely still short from the top. Big players move the market so that's the only way I could see that happening.

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Quoting arezab

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I've been watching the movement pattern of this pair for a while. There is an interesting point I noticed that GJ moves down much faster and sharper than moving up. I'm curious to know the reason behind it and what causes that this pair raises comparatively slower and it happens in longer time but when it wants to fall, it falls like a waterfall.

Is it because of Risk Aversion, Carry Trade Unwinding or because of weakness of Yen compared to Cable and the huge difference between the value of these two currencies?

Can someone enlighten me about that?

Thanks

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Quoting arezab

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My point of view is this:

I see a bearish bat forming and completing on H4 chart. Right now GJ is consolidating around 213 - 213.20 area. If 213.20 (which is top of H4 inside bar) is breached, then the D point of this pattern (213.70) will be available soon. From there I expect a sharp fall down to two points. 1st retracement target sits around 211.80 (first fib confluence area as in my chart) and the second retracement target could be around %50 fib ret (which is 211.20) of this large move up, from 208.70 to 213.70. This area is the second fib confluence zone.

I think a bounce or finding support of this areas will give GJ enough momentum to shoot up and pass through tough 214 resistance area and then 217.40 - 50 which is famous %50 retracement of this major down movement that everyone is waiting for, will be available.

Let's see what happens. Currently no position and staying on sidelines.

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Quoting alsup1955

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Well, think about it. Is it easier to walk up hill or down hill. Gravity man!
Look at it like a giant egg. Pushing it up on its end would be tough, but once u got past the verital plane graivty takes over and it falls like a rock thru a wet paper bag.....................

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Quoting mike w

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This is true, but we aren't necessarily talking about gravity. If this were a stock, I would consider this to be an altruism, but with currencies, each economy wants theirs to be considerably well. It's like a tug of war with each economy trying to make theirs worth more, thus creating a better economy for themselves. With that, I would think that the gravity thought isn't really valid- although it's the best I can think of...

Maybe warren buffett has a personal vendetta against this pair and wants it to fall miserably. Who knows. Soros is back? lol

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Quoting arezab

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My point of view is this:

I see a bearish bat forming and completing on H4 chart. Right now GJ is consolidating around 213 - 213.20 area. If 213.20 (which is top of H4 inside bar) is breached, then the D point of this pattern (213.70) will be available soon. From there I expect a sharp fall down to two points. 1st retracement target sits around 211.80 (first fib confluence area as in my chart) and the second retracement target could be around %50 fib ret (which is 211.20) of this large move up, from 208.70 to 213.70. This area is the second fib confluence zone.

I think a bounce or finding support of this areas will give GJ enough momentum to shoot up and pass through tough 214 resistance area and then 217.40 - 50 which is famous %50 retracement of this major down movement that everyone is waiting for, will be available.

Let's see what happens. Currently no position and staying on sidelines.

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Quoting karmostaji

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Karmo 217 v/s 203 Aus

The battle is on

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Quoting vinesh2

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Congrats Q!!!! you are da man on EU patience WINS. KARMO you should develop a patience INDICATOR DUDE!!!!!!

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Quoting vinesh2

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Congrats Q!!!! you are da man on EU patience WINS. KARMO you should develop a patience INDICATOR DUDE!!!!!!

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Quoting quecee5

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hope u still holding EU, u should be way in profit right now. . .
I still have it from 1.4470 area. . .

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