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

  • #73,221
  • Apr 15, 2008 7:10am Apr 15, 2008 7:10am
Quoting naatha
GJ15m
can you give me your "cross" indicator
Thx
  • #73,222
  • Apr 15, 2008 7:11am Apr 15, 2008 7:11am
Quoting DutchTrader
Anyone watching the GU? Broke thru the fibo at 1.9658 which is now resistance next leg down looks to be 1.9578 then to 1.9300ish
Ive been trading it since last week. Trend has been a lot more clear on this pair (GU) lately. I only traded gj for 30-50 pips at a time since last week. GU is going down to the gutter.

Bless
Patience + Discipline - Greed = Success
  • #73,223
  • Apr 15, 2008 7:20am Apr 15, 2008 7:20am
Quoting Infinity
Ive been trading it since last week. Trend has been a lot more clear on this pair (GU) lately. I only traded gj for 30-50 pips at a time since last week. GU is going down to the gutter.

Bless
nothing goes down for everrrrrrrrr

it is the rebound in gu which will drive gj againnnnnnnnn
  • #73,224
  • Apr 15, 2008 7:33am Apr 15, 2008 7:33am
Quoting ife
Hey Q,
sorry this off topic but i know u trade EU too..will like to know what your view is ...i entered a long on the last down move at 1.5788..i'm thinkin the trend is still up...Wat your thots..will really appreciate a reply ..thanx...
ife, I think you are spot on with your analysis of EU. . . It looks like its in a triangle formation that could result to the upside, target set at 1.59 then 1.61. . . Also, all indication looks to have lots of room to the upside if you're patient.

Here is a daily charty for u. . .
Attached Image (click to enlarge)
Click to Enlarge Name: daily eu chart.gif Size: 23 KB
  • #73,225
  • Apr 15, 2008 7:40am Apr 15, 2008 7:40am
infinity, Q

The problem with the GU is that it should be going down more except for the USD weakness. Technically this should be at 1.93 already.
Patience + Humility + Study = Success
  • #73,226
  • Apr 15, 2008 7:42am Apr 15, 2008 7:42am
Quoting quecee5
ife, I think you are spot on with your analysis of EU. . . It looks like its in a triangle formation that could result to the upside, target set at 1.59 then 1.61. . . Also, all indication looks to have lots of room to the upside if you're patient.

Here is a daily charty for u. . .
Hi quecee

Be VERY careful...The ECB wants the Euro below where it is.

Don't stand still when the elephants start dancing.


.
  • #73,227
  • Apr 15, 2008 7:42am Apr 15, 2008 7:42am
Quoting forexlion
nothing goes down for everrrrrrrrr

it is the rebound in gu which will drive gj againnnnnnnnn
I didnt say it will go down forever. It will just die a slow death before resurrection.
Patience + Discipline - Greed = Success
  • #73,228
  • Apr 15, 2008 7:43am Apr 15, 2008 7:43am
Quoting DutchTrader
infinity, Q

The problem with the GU is that it should be going down more except for the USD weakness. Technically this should be at 1.93 already.
PPI double what it should be ... no weakness on USD if inflation goes up = interest rate hikes ..... at a fast rate of speed.
Blogging daily now at www.volume.zone
  • #73,229
  • Apr 15, 2008 7:46am Apr 15, 2008 7:46am
Quoting DutchTrader
infinity, Q

The problem with the GU is that it should be going down more except for the USD weakness. Technically this should be at 1.93 already.
Hi DutchTrader,

With respect, I don't understand what you are saying here.

If the US is weak, the GBP will go up.

If the US is strong, the GBP will go down.

The GBP is not going down simply BECAUSE the USD is weaker.


.
  • #73,230
  • Apr 15, 2008 7:48am Apr 15, 2008 7:48am
Ah a farkin' type, I meant USD strength of course. Sorry
Patience + Humility + Study = Success
  • #73,231
  • Apr 15, 2008 7:49am Apr 15, 2008 7:49am
Quoting DutchTrader
infinity, Q

The problem with the GU is that it should be going down more except for the USD weakness. Technically this should be at 1.93 already.
I think it is well on the way down. All this latest data is confirming it. I think we will see 9300 area this week or next. As you said, the very weak and fragile usd is delaying the fall.

Bless
Patience + Discipline - Greed = Success
  • #73,232
  • Apr 15, 2008 7:53am Apr 15, 2008 7:53am
careful with shorts at this point. keep your SL above the daily trendline (201.80 for today)
this is a daily chart showing regular divergences on stochastic and macd (note that macd is showing divergence on both the histogram and the lines). if/when we see a break of that daily trendline, you don't want to be caught with a short position.
Attached Image (click to enlarge)
Click to Enlarge Name: gjd.gif Size: 24 KB
Nihil Sine Deo.
  • #73,233
  • Apr 15, 2008 7:54am Apr 15, 2008 7:54am
Quoting jacko
Hi DutchTrader,

With respect, I don't understand what you are saying here.

If the US is weak, the GBP will go up.

If the US is strong, the GBP will go down.

The GBP is not going down simply BECAUSE the USD is weaker.


.
As Lewis Black said in his stand up- It's like voting for two bowls of shit. lol They both smell pretty bad.
I dream, therefore I become.
  • #73,234
  • Apr 15, 2008 7:55am Apr 15, 2008 7:55am
Posible scenario Before Bounce from 197.50

http://www.doske.com/fx/ew-76.png
  • #73,235
  • Apr 15, 2008 7:56am Apr 15, 2008 7:56am
Quoting mike w
As Lewis Black said in his stand up- It's like voting for two bowls of shit. lol They both smell pretty bad.
yeah my typo threw everyone off, I thought it was pretty self explanatory what I meant. Ahhh the internets.
Patience + Humility + Study = Success
  • #73,236
  • Apr 15, 2008 7:58am Apr 15, 2008 7:58am
Quoting mike w
As Lewis Black said in his stand up- It's like voting for two bowls of shit. lol They both smell pretty bad.
Patience + Discipline - Greed = Success
  • #73,237
  • Edited 8:17am Apr 15, 2008 7:59am | Edited 8:17am
Quoting jacko
Hi quecee

Be VERY careful...The ECB wants the Euro below where it is.

Don't stand still when the elephants start dancing.


.
I agree - however EU will probably complete this wave cycle (5 of 5) before reversing - I see at least another attempt @ above 1.59 to 1.60/1.6050 area then back down to 1.5340 eventually. . .

I'm not in any EU nor GJ trade - waiting for the right set-up before entering.
  • #73,238
  • Apr 15, 2008 8:02am Apr 15, 2008 8:02am
EU needs to complete the cycle towards 1.60 before a massive selloff. These dips have been just a taste of what's to come after we hit 1.60
Patience + Humility + Study = Success
  • #73,239
  • Apr 15, 2008 8:08am Apr 15, 2008 8:08am
Dow heading down on State Street concerns.
Patience + Humility + Study = Success
  • #73,240
  • Apr 15, 2008 8:16am Apr 15, 2008 8:16am
Quoting Scrat
careful with shorts at this point. keep your SL above the daily trendline (201.80 for today)
this is a daily chart showing regular divergences on stochastic and macd (note that macd is showing divergence on both the histogram and the lines). if/when we see a break of that daily trendline, you don't want to be caught with a short position.
Yep been watching this set-up as well. . .
I don't have a position right now, I'm waiting for further confirmation to go short or long but I'd like to at least see a rejection or a bounce off of the falling trendline or a fib or a daily close above it. . .
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