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

  • #79,201
  • May 7, 2008 10:16pm May 7, 2008 10:16pm
Quoting DutchTrader
Not till NY after the rate decisions
I agree. It may not even happen tomorrow at all, but it may happen soon.
Patience + Discipline - Greed = Success
  • #79,202
  • May 7, 2008 10:18pm May 7, 2008 10:18pm
last 2 times we hit 203.33 zone the gj bounced right away .. this time nothing ... no buyers in this zone. If it consolidates in tight range at this level would signify a breakdown .Simple price action .
Blogging daily now at www.volume.zone
  • #79,203
  • May 7, 2008 10:19pm May 7, 2008 10:19pm
Quoting malcolmb14
last 2 times we hit 203.33 zone the gj bounced right away .. this time nothing ... no buyers in this zone. If it consolidates in tight range at this level would signify a breakdown .Simple price action .

Absolutely correct. Nice conclusion
  • #79,204
  • May 7, 2008 10:22pm May 7, 2008 10:22pm
Quoting malcolmb14
last 2 times we hit 203.33 zone the gj bounced right away .. this time nothing ... no buyers in this zone. If it consolidates in tight range at this level would signify a breakdown .Simple price action .
Same thing's happening with UJ, measly 20 pips. Out of my small long in UJ going to bed. G'night gents.
Patience + Humility + Study = Success
  • #79,205
  • May 7, 2008 10:23pm May 7, 2008 10:23pm
Quoting malcolmb14
last 2 times we hit 203.33 zone the gj bounced right away .. this time nothing ... no buyers in this zone. If it consolidates in tight range at this level would signify a breakdown .Simple price action .
Was that during Asian Session?
  • #79,206
  • May 7, 2008 10:24pm May 7, 2008 10:24pm
look at way macd crossed on daily .. histogram down thru 0 , rsi down thru 50 (last time she did this was 1000 pip drop) , and rapid rsi under 70.

all VERY bearish

Attached Image (click to enlarge)
Click to Enlarge Name: gj daily.jpg Size: 233 KB
Blogging daily now at www.volume.zone
  • #79,207
  • May 7, 2008 10:25pm May 7, 2008 10:25pm
like scrat said, there IS a massive bearish divergence showing on all oscillators on the h4 chart.

Quoting Infinity
no.....maybe not immediate future, but I do see the pound going back up to 1.98 and the eur may well test 1.59 not too long from now. I think the yen wants to go to 108 and the geppy wants above 210....lets see what happens...
  • #79,208
  • May 7, 2008 10:26pm May 7, 2008 10:26pm
Quoting malcolmb14
look at way macd crossed on daily .. histogram down thru 0 , rsi down thru 50 (last time she did this was 1000 pip drop) , and rapid rsi under 70.

all VERY bearish

Attachment
On the chart, it looks like it got very close to cross the last time, or maybe touched, but went up.
  • #79,209
  • May 7, 2008 10:27pm May 7, 2008 10:27pm
Quoting Infinity
I agree. It may not even happen tomorrow at all, but it may happen soon.

Keep hope alive I'd say.
  • #79,210
  • May 7, 2008 10:27pm May 7, 2008 10:27pm

u're gonna miss out on all the fun!

Quoting DutchTrader
Same thing's happening with UJ, measly 20 pips. Out of my small long in UJ going to bed. G'night gents.
  • #79,211
  • May 7, 2008 10:30pm May 7, 2008 10:30pm
8 hour chart ... no sign of reversal ... rsi has lots of room to downside...macd histogram getting taller ....

I see 200.8

Attached Image (click to enlarge)
Click to Enlarge Name: jpy8hour.png Size: 268 KB
Blogging daily now at www.volume.zone
  • #79,212
  • May 7, 2008 10:31pm May 7, 2008 10:31pm
Quoting malcolmb14
last 2 times we hit 203.33 zone the gj bounced right away .. this time nothing ... no buyers in this zone. If it consolidates in tight range at this level would signify a breakdown .Simple price action .
I noticed that.... but I just don't see the yen breaking down right now and the pound and euro are due a retrace soon. If I see a daily close below 203.5, I will be looking to short, until then, we are at the bottom of this 2 month long range and I don't see anything significant right now to cause a major breakdown i.e unwinding of carry trades.

Bless
Patience + Discipline - Greed = Success
  • #79,213
  • May 7, 2008 10:35pm May 7, 2008 10:35pm
Quoting sifoorex
Keep hope alive I'd say.
I'd say....
Patience + Discipline - Greed = Success
  • #79,214
  • May 7, 2008 10:35pm May 7, 2008 10:35pm
Quoting Clouds
Was that during Asian Session?
1st time on 4 hour was 1600 pst , 2000 to midnight finished at 204.74 and then up from midnight to 4m pst it moved up

this time nothing. .......

The price is 'stepping ' on the 2 hour .. moved down .. 3 consolidation bars .. then move down . Right now 15 min is a simple bear flag
Blogging daily now at www.volume.zone
  • #79,215
  • May 7, 2008 10:40pm May 7, 2008 10:40pm
Quoting Infinity
I noticed that.... but I just don't see the yen breaking down right now and the pound and euro are due a retrace soon. If I see a daily close below 203.5, I will be looking to short, until then, we are at the bottom of this 2 month long range and I don't see anything significant right now to cause a major breakdown i.e unwinding of carry trades.

Bless
Today I think was the biggest down day we have since April in dj-30 and s&p finished under 1400 ....

last two time gj touched on this level YM was in an UP trend.... just a an observation

Carry trade unwinding may be just beginning

I see it across ALL jpy crosses
Blogging daily now at www.volume.zone
  • #79,216
  • May 7, 2008 10:44pm May 7, 2008 10:44pm
what is the hurry to go long ?

15 min is still under its 20 and 50 sma..... for true reversal confirmation I would not go long till it broke thru at least 50 sma on 15 min.

Bear flag on 15min

Attached Image (click to enlarge)
Click to Enlarge Name: gj15 min.png Size: 213 KB
Blogging daily now at www.volume.zone
  • #79,217
  • May 7, 2008 10:46pm May 7, 2008 10:46pm
Quoting malcolmb14
what is the hurry to go long ?

15 min is still under its 20 and 50 sma..... for true reversal confirmation I would not go long till it broke thru at least 50 sma on 15 min.

Bear flag on 15min

Attachment
I trade with good reward , low risk, so If I'm wrong 70% of the time, I am still ok.... I don't wait to see signals to go long. Just see previous lows/resistance/support
  • #79,218
  • May 7, 2008 10:47pm May 7, 2008 10:47pm
Closed 2 of my short and bank 1000 pips at 203.50.. now already open 1 long post and aim 207.50 as my 1st tp

http://img390.imageshack.us/img390/7899/gjzz111ht1.gif
  • #79,219
  • May 7, 2008 10:51pm May 7, 2008 10:51pm
Quoting Clouds
I trade with good reward , low risk, so If I'm wrong 70% of the time, I am still ok.... I don't wait to see signals to go long. Just see previous lows/resistance/support
good attitude .. let the winners run and cut the losers short
Blogging daily now at www.volume.zone
  • #79,220
  • May 7, 2008 10:54pm May 7, 2008 10:54pm
Quoting malcolmb14
good attitude .. let the winners run and cut the losers short
That's how I like to roll too, he he...
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