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

...hard to break it

Price should retreat from resistances , not hang around them, if it does there is a good chance the resistance will be broken.

It is this chart that has me watching the 205 area very closely. I think if this area holds and tomorrow's data is bad, the downtrend will resume. I am currently flat until after data. If the data is good and the trendline is broken convincingly, we should have a nice ride up IMHO.

Bless

Volumes are low right now, not ideal trading, but can anyone confirm whether this is Auslanco's 4hr / 1hr trade setup?

I will go long if an hr bar closes convincingly above 204.60

usually, asia brings a drop in yen pairs. this time it didn't, price is just slowly crawling higher and higher and higher. weird.

Anyone consider that this was simply a news spike based on the negative AUD news an hour ago (carry trade currency as well)?

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I think we will get fake signals until news tomorrow. Bulls look very strong right now and have been all week but I think we are at a critical level. It can go either way after the news. That said, daily 50ema is at 206.1 and is also reachable.

Bless

the way i see it market is playing right into harmonic parameter 1.618*

link:
http://bp1.blogger.com/_soa35Q8-2NA/...h/7.44,1gj.gif

GodfreyH

My view is as follows:

Looking at the 4HR/1HR strategy I would say no to the ideal set up for 4hr/1hr strategy. The reasons are as follows

(1) Price Bars on both 4hr and 1hr are not fresh crosses on Gann. Price has been above Gann on both TF for quite some time now.

(2) Cross on QQE5 on 4hr TF is also not a fresh cross but does show bullish price action for quite some time now.

The 1hr cross on QQE5 is a recent cross and I would say that if this 1 hr bar when it closes still shows QQE5 cross entry price would be at 1HR 5sma during the next bar. Note: Hour has closed and cross held...entry price would be for me 5sma on this 1 hr bar)

Just a side note. When my daily bar closed today at 5 EST, momentum on 1c was down and 10c and 14 c was up. 14c had a very very strong line pointing up. That said to me price action could be bullish today. Also at the beginning of the week momentum showed a bull run for the week

Further confirmation of a bullish day today for me was the closing of the last three daily candles.... not the ideal setup for "Three White Soldiers" pattern since today's candle was not a long bullish candle. However, open and close prices the last 3 days, and price action so far today since 5 EST is enough for me to confirm that yes today could be a bull run. Take a read at the following site: http://www.candlestick.com

This is the ending of wave c in regards to elliot wave....a run up in price then the fall would occur in my opinion next week or NFP numbers would start it today.

NFP I think would surprise us all and come in better than expected, negative number but a better negative number (if that is at all possible).

Like Jaroo always says news is price and price is news....I wonder if that applies to NFP days!!!!!


Take care. sw

, Thanks, good analysis.

GBP/JPY fell from 213.46 (27 Feb high) to complete a multi-week bear triangle. A 203.45-207.96 range then preceded a sharp drop to 192.52 (17 Mar low). Higher lows have followed, and Wed's break above 201.76-80 has completed a base. Next target lies at 205.50 (61.8% retrace of 213.46-192.52), a breach of which opens 207.95. Yesterday"s spike low at 202.70 now buoys advance.

Just an info and not a reco!

I smell blood for the "BEARS" 205.50-207 will do for the coming sessions, 208-210 by monday!

Just an info and not a reco!

i dont if i get signal for selling i'll sell

No my friend it is called a "Bull Trap"

only time will tell

price does not travel in a straight line. It has to come down. For the last 3 days we are seeing a +ve close on daily.

unless we get a closing daily candle above the daily 50ema, i'm guessing there won't be any more upward movement. as most of the guys here said, we've been trading under 50ema for a long time now. i don't think it's ready to get broken just yet...

i do not see hw the bears wiil be smeared today.have you taken a look at the daily trend line down,.yesterdays action couldnt beat it.once that trend line is broken , then there will be a shift in sentiment.remember,that the bias is stil bearish with the us equity market in trouble,expecting further losses to be revealed.the only info traders are waiting on nw will be the nfp coming soon,. according to ifr and merrylynch, they are expecting a drop.if the price action cannot beat the trendline, and the news comes bad for the dollar. what the hell will u be waiting for to go bearish again.
in summary i think you should wait on the news to give u a sense of direction

agreeing with that!

wait and see!!