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

  • #73,601
  • Apr 17, 2008 10:12am Apr 17, 2008 10:12am
Vinesh chk your pm bro!
  • #73,602
  • Apr 17, 2008 10:13am Apr 17, 2008 10:13am
Quoting $teve
Price couldn't close below 198 all week long. I suspect it is due to the monthly 100 sma down by 197. Monthly momentum is bullish. There's a "high probability" that we may finally break out of the daily channel and get a big push up. A break of the daily 50 ema would confirm this. I'm still very bullish for this week.
  • #73,603
  • Apr 17, 2008 10:18am Apr 17, 2008 10:18am
Quoting quecee5
Picking tops in a clear bull run can cause many to lose lots of money. . . That's all I've been hearing over the last couple days and GJ has manage to gain 500 pips up and counting.

It's clear that the market has a risk appetite for some risky assets and this will probably go on until the market closes 2morrow. . .

Why not just go with the trend instead of trying to pick a top????? Look what happened the last time price closed above the daily gann hi/lo and 5 SMA, it went from 196 to 205. . .

Only some really bad news today or 2morrow will change the course of GJ. Those waiting for a plunge to 190 2day or 2morrow will probably be waiting for a while. . .

Food for thought!
There may be some form of retracemewnt back into 202 .. that is the sell I am waiting for , with a sell stop at 202.85. It is a 5 min chart trade.

I see 204 or higher in the cards for a swing trade.

It seems the market cannot be slowed down for now. The bulls have firm control and investors have a big appetite for risk right now
Blogging daily now at www.volume.zone
  • #73,604
  • Apr 17, 2008 10:23am Apr 17, 2008 10:23am
Quoting lilmoe
yup

sl hit!!!
  • #73,605
  • Apr 17, 2008 10:26am Apr 17, 2008 10:26am
Quoting lilmoe
sl hit!!!
Now price will start to retrace, bouncing off daily 50ema
Trade what you see, not what you think.
  • #73,606
  • Apr 17, 2008 10:26am Apr 17, 2008 10:26am
I'm long AJ, not trading GJ but there is demand from Japanese Life insurers and Toshin bonds. FWIW
Patience + Humility + Study = Success
  • #73,607
  • Apr 17, 2008 10:32am Apr 17, 2008 10:32am
Quoting DutchTrader
I'm long AJ, not trading GJ but there is demand from Japanese Life insurers and Toshin bonds. FWIW
Same here dutch, that daily was too nice 2 days ago with the confirmation bar. I'm long that and the eur/jpy. Any dips are good to me IMO. Got burnt again on the gbp/jpy yesterday. lol
Today may be the closng factor for the aud/jpy long though if a pin comes out. I would then probably reverse and go short.
I dream, therefore I become.
  • #73,608
  • Apr 17, 2008 10:33am Apr 17, 2008 10:33am
Price hit through the weekly 5 sma high and retraced. It looks like a tough resistance to break plus Dow is negative

Very good time to short? :-)
  • #73,609
  • Apr 17, 2008 10:36am Apr 17, 2008 10:36am
It looks like we might get a daily candle closed outside of the channel. There's still about 5 more hours until my daily candle closes. The daily 50 ema is currently at 204.53, which happens to be that strong support turned resistance level. The trendline is currently sitting on 201.56. A retest of that trendline would be ideal for long entry.
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  • #73,610
  • Apr 17, 2008 10:40am Apr 17, 2008 10:40am
Quoting karmostaji
Now price will start to retrace, bouncing off daily 50ema

not sure about that, with current price action, price should find resistance at 204.0x
  • #73,611
  • Apr 17, 2008 10:41am Apr 17, 2008 10:41am
Quoting mktjong
Price hit through the weekly 5 sma high and retraced. It looks like a tough resistance to break plus Dow is negative

Very good time to short? :-)

4 hr resistance 204.40 area maybe the max for the day .. let's see if it has that booster rocket to burn gettting there
  • #73,612
  • Apr 17, 2008 10:42am Apr 17, 2008 10:42am
Quoting lilmoe
not sure about that, with current price action, price should find resistance at 204.0x
but keep an eye on daily 50ema, price hasn't been able to close above it since Nov 2007 so it's a tough resistance to break

A couple of hours to go for the daily candle to close
Trade what you see, not what you think.
  • #73,613
  • Apr 17, 2008 10:44am Apr 17, 2008 10:44am
Quoting karmostaji
but keep an eye on daily 50ema, price hasn't been able to close above it since Nov 2007 so it's a tough resistance to break

A couple of hours to go for the daily candle to close
what platform are u using??
  • #73,614
  • Apr 17, 2008 10:45am Apr 17, 2008 10:45am
Quoting karmostaji
Now price will start to retrace, bouncing off daily 50ema
Looks true. But isn't it at 204.25?
  • #73,615
  • Apr 17, 2008 10:45am Apr 17, 2008 10:45am
Quoting karmostaji
but keep an eye on daily 50ema, price hasn't been able to close above it since Nov 2007 so it's a tough resistance to break

A couple of hours to go for the daily candle to close

daily 50ema breached on my chart
  • #73,616
  • Apr 17, 2008 10:45am Apr 17, 2008 10:45am
Ok its time for me to bring out the hammer. My shorts are bleeding again! Karmo here's to you. Remember what happened last time I brought the hammer?
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  • #73,617
  • Apr 17, 2008 10:47am Apr 17, 2008 10:47am
gbpusd carrying gj up.

Heading towards 1st target at 204. This reminds me of yesterdays chart where we drifted in this upward channel all day .

I still have that sell order sitting there at 202.85 , just in case things come down. But at this point I see no reason that they should .
Blogging daily now at www.volume.zone
  • #73,618
  • Apr 17, 2008 10:48am Apr 17, 2008 10:48am
Quoting lilmoe
what platform are u using??
InterbankFX
Trade what you see, not what you think.
  • #73,619
  • Apr 17, 2008 10:49am Apr 17, 2008 10:49am
mikew,

96 was rejected, the retracement of the move down was around 95.77ish and that's been holding the high was 95.91 so i think the long's petering out as you say.
Patience + Humility + Study = Success
  • #73,620
  • Apr 17, 2008 10:50am Apr 17, 2008 10:50am
Quoting Banker
Looks true. But isn't it at 204.25?
I use ibfx and fxdd. Ibfx has it at 203.47. Fxdd has it at 204.53. I'll go with the higher on just to be safe.
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