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

  • #65,561
  • Mar 5, 2008 9:42am Mar 5, 2008 9:42am
Hi Q no i closed out my EU a long time ago i know idiot!. But looking to short it now looks like its running out of steam but will wait. Currently short on EJ and long on AU and Kiwi. Keeping my portfolio diversified and only trading the currency that are trending. GJ is way too risky right now so trading only small lots. Yo da man! and Karmo is the mac daddy of them all.
  • #65,562
  • Mar 5, 2008 9:43am Mar 5, 2008 9:43am
Quoting quecee5
Look at this chart and tell what u see. . .

Lets' discuss. . .

Daily chart 4 u. . .
This is what I see on the daily chart

5SMA Line cross 21 day EMA Line and both cross GANN HI/LO....which means sell trigger around Feb 29 at price range 210.85 -210.95. Therefore, the max this retracement can reach is no more than above mentioned price range or else the down trend will be negated.

I am a newbie so go easy on me if my interpretation is not correct.
Thanks sw
The Will is Greater than the Skill
  • #65,563
  • Mar 5, 2008 9:43am Mar 5, 2008 9:43am
Quoting mike w
Well I woke up to see my 204.50 triggered, which was excellent

Looking on the dailies, we'll probably see a retracement to 206.50 before another run up. 208.50 is definitely in the cards now and we'll see how price reacts there.
Seems that the 207 area support is getting weaker and weaker, am not surprised if it downs to 206.50 area before up again
  • #65,564
  • Mar 5, 2008 9:43am Mar 5, 2008 9:43am
A question. Some of you seem to have known (or been pretty sure) before the US news today that it would be positive and bring price up.
How did you know? Or is it that the forecast was better than the previous number, and it would have been enough if the actual number matched the forecast that would have been good news too and brought the price up?
  • #65,565
  • Mar 5, 2008 9:45am Mar 5, 2008 9:45am
Quoting vinesh2
Hi Q no i closed out my EU a long time ago i know idiot!. But looking to short it now looks like its running out of steam but will wait. Currently short on EJ and long on AU and Kiwi. Keeping my portfolio diversified and only trading the currency that are trending. GJ is way too risky right now so trading only small lots. Yo da man! and Karmo is the mac daddy of them all.
EU is headed to 1.55/1.58 - IMO. . . And we'll see UJ below 100 soon. . .

Cheers mate!
  • #65,566
  • Mar 5, 2008 9:45am Mar 5, 2008 9:45am
Quoting vinesh2
Hi Q no i closed out my EU a long time ago i know idiot!. But looking to short it now looks like its running out of steam but will wait. Currently short on EJ and long on AU and Kiwi. Keeping my portfolio diversified and only trading the currency that are trending. GJ is way too risky right now so trading only small lots. Yo da man! and Karmo is the mac daddy of them all.

I am shorting it for a few pips run from the high minutes ago http://www.forexfactory.com/images/icons/icon10.gif
Geez .. I gotta go . thanks everyone.
  • #65,567
  • Mar 5, 2008 9:46am Mar 5, 2008 9:46am
Quoting SimonJ
A question. Some of you seem to have known (or been pretty sure) before the US news today that it would be positive and bring price up.
How did you know? Or is it that the forecast was better than the previous number, and it would have been enough if the actual number matched the forecast that would have been good news too and brought the price up?
I;m also looking for an answer. Hope some1 could enlighten us. Thx in advance
  • #65,568
  • Mar 5, 2008 9:47am Mar 5, 2008 9:47am
Quoting SimonJ
A question. Some of you seem to have known (or been pretty sure) before the US news today that it would be positive and bring price up.
How did you know? Or is it that the forecast was better than the previous number, and it would have been enough if the actual number matched the forecast that would have been good news too and brought the price up?
I don't know about news nor really care unless it's an interest rate statement or something, otherwise I just watch news for the fun of it. At the end of the day I follow my chart and trade my chart and indicators, they speak to me. News can sometimes be the trigger for some moves, that's just forex I guess.
Trade what you see, not what you think.
  • #65,569
  • Mar 5, 2008 9:51am Mar 5, 2008 9:51am
Quoting karmostaji
I don't know about news nor really care unless it's an interest rate statement or something, otherwise I just watch news for the fun of it. At the end of the day I follow my chart and trade my chart and indicators, they speak to me. News can sometimes be the trigger for some moves, that's just forex I guess.
you are right karmo , i hate news too
  • #65,570
  • Mar 5, 2008 9:52am Mar 5, 2008 9:52am
Quoting comeinvest
I;m also looking for an answer. Hope some1 could enlighten us. Thx in advance
Fundamentals always play out in technical analysis. You can see price gearing up for a move just based on the price action that it shows.
I dream, therefore I become.
  • #65,571
  • Mar 5, 2008 9:54am Mar 5, 2008 9:54am
Quoting mktjong
Seems that the 207 area support is getting weaker and weaker, am not surprised if it downs to 206.50 area before up again

To me, that would be more prime "real estate" before heading back up. I plan to add another position there, then I'm done adding lol
I dream, therefore I become.
  • #65,572
  • Mar 5, 2008 9:55am Mar 5, 2008 9:55am
Weekly pivot @ 207.50
Monthly pivot @ 208.70
Trade what you see, not what you think.
  • #65,573
  • Mar 5, 2008 9:56am Mar 5, 2008 9:56am
Quoting mike w
Fundamentals always play out in technical analysis. You can see price gearing up for a move just based on the price action that it shows.
lol mike dont forget the CHANCE too ... sometimes
  • #65,574
  • Mar 5, 2008 9:59am Mar 5, 2008 9:59am
Quoting karmostaji
Weekly pivot @ 207.50
Monthly pivot @ 208.70
السلام عليكم سيد karmostaji
  • #65,575
  • Mar 5, 2008 10:07am Mar 5, 2008 10:07am
Quote
Weekly pivot @ 207.50
Monthly pivot @ 208.70
207.50/80 may prove to be a strong resistance. There is a 50 EMA on the 4 Hour and 200 EMA on the 1 Hour as well as the Monthly pivot as Karmo pointed out. A clear break would open the way for 208.70/209.00.

Otherwise we may see a retrace, keep in mind the fundamentals are still pretty bad right now..
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  • #65,576
  • Mar 5, 2008 10:09am Mar 5, 2008 10:09am
Quoting smmcintyre
207.50/80 may prove to be a strong resistance. There is a 50 EMA on the 4 Hour and 200 EMA on the 1 Hour as well as the Monthly pivot as Karmo pointed out. A clear break would open the way for 208.70/209.00.

Otherwise we may see a retrace, keep in mind the fundamentals are still pretty bad right now..
Yeah. I'm definitely looking to see at least a small bounce from this area in order to buy back in at a better price to break through it.
I dream, therefore I become.
  • #65,577
  • Mar 5, 2008 10:12am Mar 5, 2008 10:12am
Quoting mike w
Yeah. I'm definitely looking to see at least a small bounce from this area in order to buy back in at a better price to break through it.
i think the 207.00 will be a nice point to buy
  • #65,578
  • Mar 5, 2008 10:12am Mar 5, 2008 10:12am
Quoting smmcintyre
207.50/80 may prove to be a strong resistance. There is a 50 EMA on the 4 Hour and 200 EMA on the 1 Hour as well as the Monthly pivot as Karmo pointed out. A clear break would open the way for 208.70/209.00.

Otherwise we may see a retrace, keep in mind the fundamentals are still pretty bad right now..

It's always good to see the glass half empty and half full! =
  • #65,579
  • Mar 5, 2008 10:13am Mar 5, 2008 10:13am
Quoting karmostaji
I don't know about news nor really care unless it's an interest rate statement or something, otherwise I just watch news for the fun of it. At the end of the day I follow my chart and trade my chart and indicators, they speak to me. News can sometimes be the trigger for some moves, that's just forex I guess.
Analyzing my 4 hr chart I could see something building since Monday. After the big move down and it goes flat like it did it's like shaking a bottle of champagne, lol! I did get a long signal on my chart last night around midnight to go long at 205.20, so I took it. I'm glad I did.
  • #65,580
  • Mar 5, 2008 10:19am Mar 5, 2008 10:19am
Quoting warta
i think the 207.00 will be a nice point to buy

I agree with that too, as a good conservative target if price weren't to reach any lower. Good stuff man!


Looking at my charts right now on the 30 minute (I know I know), we should see a 3 wave pattern down before any continuation upwards. We're beginning number 2 right now, so your target of 207 could possibly be all we get Warta.
I dream, therefore I become.
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