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

  • #67,101
  • Mar 10, 2008 11:57am Mar 10, 2008 11:57am
Quoting jarroo
Perfect setup short : Price Action, Gann, trendline break, break of the QQE.

DBHLC:
yes we are very close to go down
  • #67,102
  • Mar 10, 2008 11:59am Mar 10, 2008 11:59am
hey guys
got some pips from my short after all !
does auslanco not post in here anymore?
kim
  • #67,103
  • Mar 10, 2008 11:59am Mar 10, 2008 11:59am
Quoting mike w
Yeah, I'm in bounce mode for u/j, and a target I have for it is around 105-106. The daily are surely exhausting on this downmove now, and with that pin showing up, that just adds to my thoughts of this. I'm waiting for a pullback on g/u to around 1.99 before adding to there again as I'm thinking price will keep heading higher. That monthly is primed. To me, that spells out 213 again for g/j, but we just have to wait for PA to let us know what's up.

Good to hear on both! Thanks too!
your analysis is right on target. . . I'm actually looking for UJ up near 104.50/105 which should bring GJ up with it. My target is ar'd 209.50/210 area on a break above 208.50. . . I'll have to see how price reacts up above 208.50 before adding. . . Why are you think 213 if u don't mind me asking?
  • #67,104
  • Mar 10, 2008 11:59am Mar 10, 2008 11:59am
Quoting moneymagnet
where you long from mike?
Everywhere lol

Just about all over the map. I have longs from this area and up to the 209's still from a while back (Interest is stacking up now, otherwise I probably would have gotten out of those for a loss). I never added from lower at 203, even though I should have.

Do you have any positions MM?
I dream, therefore I become.
  • #67,105
  • Mar 10, 2008 12:02pm Mar 10, 2008 12:02pm
Quoting quecee5
your analysis is right on target. . . I'm actually looking for UJ up near 104.50/105 which should bring GJ up with it. My target is ar'd 209.50/210 area on a break above 208.50. . . I'll have to see how price reacts up above 208.50 before adding. . . Why are you think 213 if u don't mind me asking?
Come on now! it's that magic number! lol I just think about it this way, 208's couldn't break down price, 210's couldn't break down price. I'mthinking it will take the 213's in order for it to break down that 199 area. That's just a hypothetical though. In any case, if price gets rejected from around 209.50-210, like you said, I plan on shorting from there for another long haul downwards.
I dream, therefore I become.
  • #67,106
  • Mar 10, 2008 12:05pm Mar 10, 2008 12:05pm
GJ8h
http://www.tradingrooms.com/chartpos...1020081768.png
  • #67,107
  • Mar 10, 2008 12:05pm Mar 10, 2008 12:05pm
Quoting Jerry
yes we are very close to go down
I beat you to it, my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #67,108
  • Mar 10, 2008 12:06pm Mar 10, 2008 12:06pm
Quoting mike w
Come on now! it's that magic number! lol I just think about it this way, 208's couldn't break down price, 210's couldn't break down price. I'mthinking it will take the 213's in order for it to break down that 199 area. That's just a hypothetical though. In any case, if price gets rejected from around 209.50-210, like you said, I plan on shorting from there for another long haul downwards.

I see, I see. . .
Hope u are right on 213, would be very good pips to bag!
LOL!
  • #67,109
  • Mar 10, 2008 12:09pm Mar 10, 2008 12:09pm
Quoting kimmy
hey guys
got some pips from my short after all !
does auslanco not post in here anymore?
kim
Yes, every now and then. . .
  • #67,110
  • Mar 10, 2008 12:11pm Mar 10, 2008 12:11pm
Quoting quecee5
I see, I see. . .
Hope u are right on 213, would be very good pips to bag!
LOL!
For sure man! That would end up paving the way down to 199 IMO too, which would be realllllyyyy nice. If this weekly plays up, 213 would be solid resistance and after that would be Karmo's 217 IF we would get a clear break. I'm just talking hypotheticals now though, and the only real determining factors at the moment for me are the weekly pin and trendlines, which I think are still going to be good.
I dream, therefore I become.
  • #67,111
  • Mar 10, 2008 12:18pm Mar 10, 2008 12:18pm
Quoting mike w
Everywhere lol

Just about all over the map. I have longs from this area and up to the 209's still from a while back (Interest is stacking up now, otherwise I probably would have gotten out of those for a loss). I never added from lower at 203, even though I should have.

Do you have any positions MM?
just one small from 205.20 but looking to add as we start getting closes above 205. 35 targeting 208.50 but will watch price action in the 207-207.50 area
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #67,112
  • Mar 10, 2008 12:20pm Mar 10, 2008 12:20pm
The recent move down by GJ was due to the selling of GU. GU has been very strong through its current uptrend. It seems to have hit strong resistance at the 2.02 area. Currently for GU, the 4H qqe5 has crossed down and the candle is below the 4H gann. If it's confirmed, I think there will be more downside to GJ. Dow is stalling and UJ is still holding at support so this is not a news-related move.
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  • #67,113
  • Mar 10, 2008 12:20pm Mar 10, 2008 12:20pm
Quoting moneymagnet
just one small from 205.20 but looking to add as we start getting closes above 205. 35 targeting 208.50 but will watch price action in the 207-207.50 area
if we get there! lol
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #67,114
  • Mar 10, 2008 12:20pm Mar 10, 2008 12:20pm
Quoting moneymagnet
just one small from 205.20 but looking to add as we start getting closes above 205. 35 targeting 208.50 but will watch price action in the 207-207.50 area
Definitely looks like a solid plan to me! I may end up doing the same and unloading a few earlier on to be on the safe side.
I dream, therefore I become.
  • #67,115
  • Mar 10, 2008 12:20pm Mar 10, 2008 12:20pm
I am expecting a bounce at 204. I am bullish for this week.
Attached Image (click to enlarge)
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  • #67,116
  • Mar 10, 2008 12:24pm Mar 10, 2008 12:24pm
very simple h4 chart showing the breakout. the bias is down, not up.
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Nihil Sine Deo.
  • #67,117
  • Mar 10, 2008 12:24pm Mar 10, 2008 12:24pm
Quoting kimmy
hey guys
got some pips from my short after all !
does auslanco not post in here anymore?
kim
Check out his thread: http://www.forexfactory.com/showthread.php?t=43255
Indicators show the past. Price Action "Indicates" the future.
  • #67,118
  • Mar 10, 2008 12:26pm Mar 10, 2008 12:26pm
Quoting pipdiddy
I am expecting a bounce at 204. I am bullish for this week.
Nice chart pipdiddy, simple and effective. I love the way you use those simple indicators ..
Discipline + Patience - Fear - Greed = Success
  • #67,119
  • Mar 10, 2008 12:29pm Mar 10, 2008 12:29pm
Quoting Scrat
very simple h4 chart showing the breakout. the bias is down, not up.
looking at that as well but my stochs are approaching oversold levels ( i know that doesnt mean alot with the pj) but i am expecting a possible retest of that breakout TL at least. we shall see
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #67,120
  • Mar 10, 2008 12:30pm Mar 10, 2008 12:30pm
Quoting $teve
The recent move down by GJ was due to the selling of GU. GU has been very strong through its current uptrend. It seems to have hit strong resistance at the 2.02 area. Currently for GU, the 4H qqe5 has crossed down and the candle is below the 4H gann. If it's confirmed, I think there will be more downside to GJ. Dow is stalling and UJ is still holding at support so this is not a news-related move.

Nice analysis Steve! What do you see as a retracement for G/U? I'm looking at daily charts and drew out a fib from around 1.9717 to around 2.0225 roughly. THat plots out a 50% retracement at around 1.9960-70. The daily 5 sma is at 2.0010 or so and the weekly is way down there around 1.9860-70. That's spelling out a solid retracement possibility for the short term (upcoming days) IMO.

Now, add u/j to the mix, where we could very well be seeing a bounce soon (next coming days) and that gives us probably another 100 pips down overall before continuing upwards. I have higher targets for U/J at 105-106 for the bounce, which is about 300 pips from here. Once G/u finishes that retracement, I'm looking to see 2.04 and possibly higher. Looking longer term, the monthlies are beauties for bullishness.
Overall, that would land g/j a good bit higher from here to at least 210 IMO before any other movements would happen.

What do you think? Or am I just stupid lol
I dream, therefore I become.
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