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

  • #63,761
  • Feb 27, 2008 3:20pm Feb 27, 2008 3:20pm
hey q good to see u! i am with q and kujo and karm mike w etc... still more shortside


uj will have to stay put or retrace up and then get rejected back down....for shorts to hold and provide more pips but gu is poised for a LOT more down side IMO

holding shorts for now...


210 or 209.5 seems ok

possible 208 207.8

then 214 at least, 217 possible then 221-223 unlikely but possible

then 204.5 triple bottom and then if broken lower still very possible as well.....

how it all happens well thats the the tricky part lol

but for now

gu seems like the easier pair to trade........ here is same chart from last night...

therefore holding shorts for now..... gl e1


i see uj retesting the 1 hour trendline then dropping again IMO

trade what YOU see

gl e1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 20 KB
Click to Enlarge Name: uj1 hr.gif Size: 18 KB
Click to Enlarge Name: gjk4.gif Size: 20 KB
  • #63,762
  • Feb 27, 2008 3:22pm Feb 27, 2008 3:22pm
Quoting jarroo
Let's try this again. Looking to go long at the break of the 211.48 with confirmation of that long position with the a break of the 211.94.
Price totally rejected 212.00. Got out of the 211.48 trade with handful of pips. Now looking for Price Action opportunities around S/R levels.
(insert patient pill now)

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #63,763
  • Edited 3:48pm Feb 27, 2008 3:32pm | Edited 3:48pm
just my 20c
GJ1d
http://www.tradingrooms.com/chartpos...2008213132.png
GJ4h
http://www.tradingrooms.com/chartpos...2008214910.png

NIKKEI 225 INDEX
http://quotes.ino.com/chart/history....w=15&a=50&v=d6
  • #63,764
  • Feb 27, 2008 3:40pm Feb 27, 2008 3:40pm
Quoting naatha
just my 20c
http://www.tradingrooms.com/chartpos...2008213132.png
dont understand ur chart ... lot of indicators
  • #63,765
  • Feb 27, 2008 3:55pm Feb 27, 2008 3:55pm
Quoting naatha
just my 20c
http://www.tradingrooms.com/chartpos...2008213132.png

NIKKEI 225 INDEX
http://quotes.ino.com/chart/history....w=15&a=50&v=d6
Looks like your buy target is ar'd the weekly pivot. . .

I can see that if support holds. . .

Daily Chart 4 u!
Attached Image (click to enlarge)
Click to Enlarge Name: daily chart.gif Size: 26 KB
  • #63,766
  • Feb 27, 2008 3:58pm Feb 27, 2008 3:58pm
Quoting quecee5
Looks like your buy target is ar'd the weekly pivot. . .

I can see that if support holds. . .

Daily Chart 4 u!

q is that a 200 ema in yellow?

if so wouldnt we see more downside usually???? thanks in advance

also wouldnt we be in abc of the 123 i see on your chat setting up(we are in b leg down right???) therefore down then up???
  • #63,767
  • Edited 4:12pm Feb 27, 2008 4:01pm | Edited 4:12pm
Quoting dagoods
q is that a 200 ema in yellow?

if so wouldnt we see more downside usually???? thanks in advance

also wouldnt we be in abc of the 123 i see on your chat setting up(we are in b leg down right???) therefore down then up???
It's a 55 ema on a daily. . .

If price holds above weekly pivot and daily hi/lo gann then we could see GJ consolidate here for a few then back up to the top of the range. If price breaks down then price will head back toward the lows in a choppy manner IMO. . .
  • #63,768
  • Feb 27, 2008 4:36pm Feb 27, 2008 4:36pm
Did anyone notice that the market ignored Triple Interest Wednesday?

Bears have conviction to the price action.


Don't forget that March is Yen Repatriation for about 3 weeks. That means that Japanese Investors must swap their currencies back to the Yen from wherever it was.
  • #63,769
  • Feb 27, 2008 4:40pm Feb 27, 2008 4:40pm
Does this mean that some Japanese who are long carry trades may be selling some and buying yen? To me, this sounds like it may get choppy both ways for a while.

Time for dip buying and rally selling short term soon.
  • #63,770
  • Edited Feb 28, 2008 11:46am Feb 27, 2008 4:46pm | Edited Feb 28, 2008 11:46am
ovaforty posted
Bears have conviction to the price action.
--------
illustration
http://www.tradingrooms.com/chartpos...2008222022.png

http://www.tradingrooms.com/chartpos...8200817471.png

http://www.tradingrooms.com/chartpos...2008221957.png
  • #63,771
  • Feb 27, 2008 4:48pm Feb 27, 2008 4:48pm
Quoting naatha
ovaforty posted
Bears have conviction to the price action.
--------
illustration
http://www.tradingrooms.com/chartpos...2008222022.png

http://www.tradingrooms.com/chartpos...2008221957.png

  • #63,772
  • Feb 27, 2008 4:51pm Feb 27, 2008 4:51pm
Who do you think has been selling the USD across the board?

A lot of Japanese investors, is my guess.


Yen repatriation will weaken the USD until Easter time, at least. But it presents a nice buying opportunity for a cheap Dollar.

It is going to get volatile soon.
  • #63,773
  • Feb 27, 2008 4:54pm Feb 27, 2008 4:54pm
Quoting naatha
ovaforty posted
Bears have conviction to the price action.
--------
illustration
http://www.tradingrooms.com/chartpos...2008222022.png

http://www.tradingrooms.com/chartpos...2008221957.png
That's a funny pic!
  • #63,774
  • Feb 27, 2008 4:56pm Feb 27, 2008 4:56pm
Quoting naatha
ovaforty posted
Bears have conviction to the price action.
-
nice one!
  • #63,775
  • Feb 27, 2008 5:00pm Feb 27, 2008 5:00pm
Quoting naatha
ovaforty posted
Bears have conviction to the price action.
--------
illustration
http://www.tradingrooms.com/chartpos...2008222022.png

http://www.tradingrooms.com/chartpos...2008221957.png
yeah ... get em bulls ! lol nice one
  • #63,776
  • Edited 5:17pm Feb 27, 2008 5:00pm | Edited 5:17pm
Quoting naatha
ovaforty posted
Bears have conviction to the price action.
--------
illustration
http://www.tradingrooms.com/chartpos...2008222022.png

http://www.tradingrooms.com/chartpos...2008221957.png
I hope somebody makes an avatar from that pic. hehehehhehe


That is one ultra-bearish pic!
  • #63,777
  • Feb 27, 2008 5:21pm Feb 27, 2008 5:21pm
Quoting ovaforty
I hope somebody makes an avatar from that pic. hehehehhehe


That is one ultra-bearish pic!
Presently.....bull should be behind! LOL
  • #63,778
  • Feb 27, 2008 5:30pm Feb 27, 2008 5:30pm
Quoting chris747
Presently.....bull should be behind! LOL
I think the bulls and bears will be swapping positions a couple of times in the near term.
  • #63,779
  • Feb 27, 2008 5:53pm Feb 27, 2008 5:53pm
Quoting ovaforty
I think the bulls and bears will be swapping positions a couple of times in the near term.

Think 2000 pips ... DOWN

This bear got on the bull wagon for one day only. Look back in Feb of last year .. will history repeat itself ??? The next 2 days will tell ..we could be at 190 next week.

I see it in MACD , RSI... even just in the daily price bars themselves there is a lot more selling pressure than buying.

There is bearish hidden divergence in RSI14 on the daily ... price formed a lower high and rsi14 formed a higher high.
Blogging daily now at www.volume.zone
  • #63,780
  • Feb 27, 2008 6:00pm Feb 27, 2008 6:00pm
Quoting malcolmb14
It almost seems that the weekly chart is consolidating ready for the next leg down. The last leg was 2000 pips.

Although we are getting higher lows the last three weeks we need this for the RSi to come up a little , to give it room to move to the downside once more.

If the markets (American) do drop as expected and there is no disconnet between DJ-30 and GBPJPY then 190 would be next target based on monthly trend line. (low of 1995 to low of 2000 forms trend line). This also happens to be zone of 61.8% fib retracement of 148.29 (2000 low ) to high 251.10 (2007 high).

If you look back at last consolidation zone NOv / Dec 2007 the very same higher lows with a flat top pattern could be seen on the weekly. It lasted for 6 weeks.

This consolidation zone has been for 6 weeks also. As chart patterns have a history of repeating themsevles.

Does that mean next week the markets will go down? Just something to be aware of YM (DJ-30) futures traders are expecting a 11900 dow soon , and maybe lower.





Still unable to post chart otherwise I would post the chart for this one.
Wonder is this will play out .. something is brewing
Blogging daily now at www.volume.zone
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