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

  • #77,601
  • May 1, 2008 12:55pm May 1, 2008 12:55pm
Quoting vinesh2
shakesfx price still needs to open above 1hr for it to be a bullish
I hear you Bro, thanks
  • #77,602
  • May 1, 2008 12:59pm May 1, 2008 12:59pm
Quoting shakesfx
No probs.
15mins shows me Slow Stochs, QQE and MACD in positive territory, Looks like price being conjested into breakout at end of triangle drawn on charts...thinking a little drop now (traders liquidating positions before news tom.) before last attempt at a breakout... Weekly pivot at 206.26 keeps being tested, but price drops less after each test...I think if we fail the next attempt we'll start to run out of momentum...Just MHO

Seems that this morning move down was a 61.8 fib retracement of the move from the bottom to the top of the falling wedge on the 60 min ,

We are forming lower highs on the 60 min chart currently , with the last few housr in an uptrend to test secondary channel top at 206.50 zone.

If we break out to the upside of the top of the triangle at 207 area then it seems reasonable that we will test 208.50 and see what the charts tell us from there

I am seeing the daily as being overbought right now and due for some form of pull back

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  • #77,603
  • May 1, 2008 1:00pm May 1, 2008 1:00pm
Quoting ephisi
thanks shake, i see it did my 4hr gann bouce trade, did you take it, im at my statiion now
Wouldv'e been nice to take the 4hr Gann bounce, but I didn't want to add to a losing position (been holding long in minus pips)...just waiting to see what happens now...if we go South again I'm dumping the Long and waiting out for a decent entry. IMHO I think we're going up...mind you I could be wrong...
  • #77,604
  • May 1, 2008 1:05pm May 1, 2008 1:05pm
Quoting malcolmb14
Smart money got the bulls where they want them ...lol

I think NFP is no good ..... ADP is a lie I think
NFP's going to be terrible, plus the data in the run up to NFP's been mixed at best.
Patience + Humility + Study = Success
  • #77,605
  • May 1, 2008 1:06pm May 1, 2008 1:06pm
Did everyone add longs on the dip

did anyone buy that break in Cad, i was picked up 1.0115
"Millionaires don't use astrology, billionaires do"
  • #77,606
  • May 1, 2008 1:07pm May 1, 2008 1:07pm
Quoting shakesfx
No probs.
15mins shows me Slow Stochs, QQE and MACD in positive territory, Looks like price being conjested into breakout at end of triangle drawn on charts...thinking a little drop now (traders liquidating positions before news tom.) before last attempt at a breakout... Weekly pivot at 206.26 keeps being tested, but price drops less after each test...I think if we fail the next attempt we'll start to run out of momentum...Just MHO
Thanks bro.
  • #77,607
  • May 1, 2008 1:08pm May 1, 2008 1:08pm
Quoting OrionsWay
Did everyone add longs on the dip

did anyone buy that break in Cad, i was picked up 1.0115
Yep, looking to break 1.0275
Patience + Humility + Study = Success
  • #77,608
  • May 1, 2008 1:10pm May 1, 2008 1:10pm
Quoting OrionsWay
Did everyone add longs on the dip

did anyone buy that break in Cad, i was picked up 1.0115
I picked up some shorts on the GJ Rally.
J/k
  • #77,609
  • May 1, 2008 1:10pm May 1, 2008 1:10pm
Quoting malcolmb14
Seems that this morning move down was a 61.8 fib retracement of the move from the bottom to the top of the falling wedge on the 60 min ,

We are forming lower highs on the 60 min chart currently , with the last few housr in an uptrend to test secondary channel top at 206.50 zone.

If we break out to the upside of the top of the triangle at 207 area then it seems reasonable that we will test 208.50 and see what the charts tell us from there

I am seeing the daily as being overbought right now and due for some form of pull back

Attachment
I see daily is overbought too, but RSI is neutral...indicators are in a bit of a mess after the last 24hrs IMHO...I think there may be another crafty move during tonight seeing as there is no volume, and high volatility can be achieved...I'm thinking another blitz at stops before news tomorrow. If this was going to drop South I'm sure it would've done it by now...It wouldn't be sitting at this level if everyone was Shorting this afternoon, or would it? Just talking out loud...
  • #77,610
  • May 1, 2008 1:12pm May 1, 2008 1:12pm
Quoting DutchTrader
Yep, looking to break 1.0275

Nice DT, thats a keeper for good long while me thinks
"Millionaires don't use astrology, billionaires do"
  • #77,611
  • May 1, 2008 1:15pm May 1, 2008 1:15pm
Quoting Clouds
I picked up some shorts on the GJ Rally.
J/k

thats great if you mean the 3am est rally LOL
"Millionaires don't use astrology, billionaires do"
  • #77,612
  • May 1, 2008 1:21pm May 1, 2008 1:21pm
Looks like smart money spoke today
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"Millionaires don't use astrology, billionaires do"
  • #77,613
  • May 1, 2008 1:28pm May 1, 2008 1:28pm
We'll be trading well above 105 UJ by NFP time, if that's cooked then 107/108 if not back to 102. GJ will follow accordingly
Patience + Humility + Study = Success
  • #77,614
  • May 1, 2008 1:31pm May 1, 2008 1:31pm
Quoting OrionsWay
Looks like smart money spoke today

Like the look of that
  • #77,615
  • May 1, 2008 1:35pm May 1, 2008 1:35pm
Quoting DutchTrader
We'll be trading well above 105 UJ by NFP time, if that's cooked then 107/108 if not back to 102. GJ will follow accordingly
Load of buy orders just above 104.55 right through to 104.85

G/J is making a run for 207 right now, should accelerate like a "rocket" when the U/J orders are tiggered too....
  • #77,616
  • May 1, 2008 1:35pm May 1, 2008 1:35pm
Buy Buy Buy!!!!

Blastoff!
  • #77,617
  • May 1, 2008 1:36pm May 1, 2008 1:36pm
Quoting OrionsWay
Looks like smart money spoke today
Yep, it has been interesting to see dollar index trending up and Geppy is aligned with it. Swiss Franc & JPY have been used for carry trades borrowing. If Chf weaken, the Jpy is most likely weaken too. Look at Usd/Chf today, is sky-rocketting.
Buying dip on Geppy is a winning strategy lately
  • #77,618
  • May 1, 2008 1:38pm May 1, 2008 1:38pm
Quoting shakesfx
Load of buy orders just above 104.55 right through to 104.85

G/J is making a run for 207 right now, should accelerate like a "rocket" when the U/J orders are tiggered too....
25 min to market close. I can't believe GJ still had momentum to breakthrough the weekly pivot. WOW.
  • #77,619
  • May 1, 2008 1:47pm May 1, 2008 1:47pm
We still need to close above Daily Pivot which will be updated in 10 minutes
  • #77,620
  • May 1, 2008 1:49pm May 1, 2008 1:49pm
I traded that down move this morning for 80 pips on a day trade and closed a swing trade for another 120 pips.

I mentioned double bottom on the 5 min in my trading room at 205 ish. but did not trade it as i did not have that much time to watch the markets today. On the 5 min it was a sweet inverted head and shoulders pattern.

5 min is sitting on its 50 sma ( forming great support for now)

30 min might form another pivot at 206.50 area if this channel holds.(sell trigger if this happens)

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