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

  • #73,081
  • Apr 13, 2008 11:39pm Apr 13, 2008 11:39pm
Quoting Dmac
Does this make sense to anyone. I'm seeing possible 200.50ish and then new leg down.


So much for that theory. Looks like we are headed back to 198.50 now.
  • #73,082
  • Apr 13, 2008 11:40pm Apr 13, 2008 11:40pm
This is it fellas
Patience + Humility + Study = Success
  • #73,083
  • Apr 13, 2008 11:41pm Apr 13, 2008 11:41pm
Lets see if she breaks the 198.5 this time. No pressure here. Just watching. Should be interesting though.
  • #73,084
  • Apr 13, 2008 11:44pm Apr 13, 2008 11:44pm
Quoting Dmac
Lets see if she breaks the 198.5 this time. No pressure here. Just watching. Should be interesting though.
I don't think it will happen until we get more weight on top of it. I have my entries set so I'm heading to bed. I'll be here tomorrow and posting if anything is looking good. Good luck in your trades tonight everyone!
I dream, therefore I become.
  • #73,085
  • Apr 13, 2008 11:57pm Apr 13, 2008 11:57pm
O.K fella's, time to sleep. I'm not ready to trade yet anyway. I was curious to see what would happen tonight but that's enough time watchin. I've got a lot of reading to do tommorow so I got to get some good sleep. Good Luck everyone.
  • #73,086
  • Apr 13, 2008 11:59pm Apr 13, 2008 11:59pm
Quoting mike w
I don't think it will happen until we get more weight on top of it. I have my entries set so I'm heading to bed. I'll be here tomorrow and posting if anything is looking good. Good luck in your trades tonight everyone!
hire some sumo wretlers to add weight
  • #73,087
  • Apr 14, 2008 12:32am Apr 14, 2008 12:32am
Quoting forexlion
hire some sumo wretlers to add weight


i would say a hammer would do a way better job
  • #73,088
  • Apr 14, 2008 12:44am Apr 14, 2008 12:44am
lets see if we get that 198 thingy and also manage that march month close

once the march month close goes then it is 196.09
  • #73,089
  • Apr 14, 2008 12:58am Apr 14, 2008 12:58am
I'm waiting for a break of 199.43 (monthly pivot) to go long. Otherwise, I will go long half at daily S1 (197.60) and half at weekly S1 (196.50).
  • #73,090
  • Apr 14, 2008 1:09am Apr 14, 2008 1:09am
Quoting forexlion
hire some sumo wretlers to add weight
LOL
  • #73,091
  • Apr 14, 2008 1:24am Apr 14, 2008 1:24am
Price ranging between pivot and support1, from Friday. I was hoping to short with a close below the red line or below support-1, but it looks like Frankfurt spoiled the party. ah well , c'est la vie.

Shifting focus to possible long but I won't take any trade till after London.
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  • #73,092
  • Apr 14, 2008 1:34am Apr 14, 2008 1:34am
Quoting GodfreyH
Price ranging between pivot and support1, from Friday. I was hoping to short with a close below the red line or below support-1, but it looks like Frankfurt spoiled the party. ah well , c'est la vie.

Shifting focus to possible long but I won't take any trade till after London.
I see price "could" go down as low as the weekly S1 at 196.50 but with monthly 100 sma lurking around 197, I think price could turn up at any moment. I don't think price will go too far below 196 this month. Maybe it will next month after another bad NFP but the 100 sma is very strong. I wouldn't short down here. Just like I wouldn't long up at 204.50.
  • #73,093
  • Apr 14, 2008 1:36am Apr 14, 2008 1:36am
The market's reacting really choppy to the G7 issue. Euro back up 80 pips off the opening low. I'm going to wait to take a trade till US Retail Sales at 830am. See you gents later.
Patience + Humility + Study = Success
  • #73,094
  • Apr 14, 2008 1:48am Apr 14, 2008 1:48am
As you can see from the chart, prior to the previous two large fall (1000+ pips), there's a period of consolidation which lasted for about 7 or 8 weeks. We are only in the 4th week of consolidation after that fall from 205 to 192 area. So we got a few more weeks to go before another large fall, that is if history repeats itself.
Attached Image (click to enlarge)
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  • #73,095
  • Apr 14, 2008 1:56am Apr 14, 2008 1:56am
So far we got a bull run from 197 to 205, then a bear run from 205 to 198 currently 198ish. That's why I'm eager to get in a long from 197 area for a ride back up to 205.
  • #73,096
  • Apr 14, 2008 1:59am Apr 14, 2008 1:59am
Quoting tonyo524
An hour late, but I can see the headlights.

hope ur not missing out on ur train buddy!
  • #73,097
  • Apr 14, 2008 2:10am Apr 14, 2008 2:10am
Quoting lilmoe
hope ur not missing out on ur train buddy!
I was stuck in the tunnel for a little while
http://www.forexfactory.com/images/icons/icon10.gif

But I'm waiting for the first op to abandon ship. This ride was not as fast as I anticipated.
All that is left in FF is just plain garbage. "Cloggie"
  • #73,098
  • Apr 14, 2008 2:12am Apr 14, 2008 2:12am
from the this week we must monitor consumption index in the USA
  • #73,099
  • Apr 14, 2008 2:29am Apr 14, 2008 2:29am
Quoting tonyo524
I was stuck in the tunnel for a little while
http://www.forexfactory.com/images/icons/icon10.gif

But I'm waiting for the first op to abandon ship. This ride was not as fast as I anticipated.

there are lots of blocks in the way though, the price is bouncing hard on each support. but i think we have good force downwards. we should also find good support at last week's low, if breached, 197.50 should be hour first target.
  • #73,100
  • Apr 14, 2008 2:30am Apr 14, 2008 2:30am
this is what i call, "pinbar-mania"
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