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

  • #79,621
  • May 9, 2008 2:53am May 9, 2008 2:53am
I'm holding for 150
  • #79,622
  • May 9, 2008 2:57am May 9, 2008 2:57am
I LOVE TRADING GJ, I ONLY TRADE GJ, I WILL TRADE GJ TILL I PISH

trading just got so easy
  • #79,623
  • May 9, 2008 2:57am May 9, 2008 2:57am
I think now that 202.30 is broken to the down side, 196.30 is the first target.

If we see any retrace from 210.20 support area, I expect first target to be around 203.15 and the second may be around 204.40 ...

I'm still keeping my shorts from 208.70 area open with 650+ moved my stops to 203.14 ... let's see what happens
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Discipline + Patience - Fear - Greed = Success
  • #79,624
  • May 9, 2008 2:59am May 9, 2008 2:59am
200.75/80 is 50% retrace of the whole up move started from 198.05 - 209.01

Food for thought!
  • #79,625
  • May 9, 2008 3:02am May 9, 2008 3:02am
with fall sushi we must see a large fall for GBP and AUD and NZD in the next week (more risk aversion )
  • #79,626
  • May 9, 2008 3:02am May 9, 2008 3:02am
Quoting jarroo
How nice was this Inside Bar on the 4 hour chart. I missed it, of course.
Inside bars are nice to trade. This fall started with an inside bar. The june/july 07 GJ's fall started with inside bar also.
  • #79,627
  • May 9, 2008 3:04am May 9, 2008 3:04am
Funny, UJ and GJ are moving at the same speed, do to GU bullishness.
  • #79,628
  • May 9, 2008 3:05am May 9, 2008 3:05am
Quoting arezab
I think now that 202.30 is broken to the down side, 196.30 is the first target.

If we see any retrace from 210.20 support area, I expect first target to be around 203.15 and the second may be around 204.40 ...

I'm still keeping my shorts from 208.70 area open with 650+ moved my stops to 203.14 ... let's see what happens
198 may be very tough to break on the 1st go ar'd if it makes it that far before a nice retrace, 200.75/80 may hold things up a bit. . .
  • #79,629
  • May 9, 2008 3:13am May 9, 2008 3:13am
Quoting quecee5
198 may be very tough to break on the 1st go ar'd if it makes it that far before a nice retrace, 200.75/80 may hold things up a bit. . .
Yes q you are absolutely right. 196 area is the long term target and of course there are many barriers on the way for price to reach there.

How knows what the beast will do ... may be we go down that far this very night
Discipline + Patience - Fear - Greed = Success
  • #79,630
  • May 9, 2008 3:19am May 9, 2008 3:19am
Like Quecee said, could just be a retrace from last month, on a Monthly UJ chart, you see them clear.
  • #79,631
  • May 9, 2008 3:24am May 9, 2008 3:24am
Quoting quecee5
200.75/80 is 50% retrace of the whole up move started from 198.05 - 209.01
Your 50% fib converges w/ a -38% extension of the fall from 206.90 to 202.40 yesterday, and just below S2 daily. I'm not sure tonite is the nite to push thru that.

And that's if it clears the current levels at M1 and -23%... Heading for bed.

Pip carefully all.
Attached Image
FUBAR...
  • #79,632
  • May 9, 2008 3:26am May 9, 2008 3:26am
I consider that we will go up now... we have to close the GAPS of the share market indices...

Further I you take a look at the DJI the retracement might be done as it currently reached the mid-term-support-line @ 12.767 (very important level since February 2007). I don't think that we can break this line at 1st attempt.
  • #79,633
  • May 9, 2008 3:26am May 9, 2008 3:26am
Whilst the Swissy holds its 1.0425 support, UJ is unlikely to break its 103 level. IF it does, then it has support off its 4 hour chart at 102.67 - at that level, we could expect GJ in the 200.50 - 201 area, assuming that cable remains in the 525 - 555 range....

At the moment its looking like coffee time.

Edit: The weekly S2 is at 201.29
Trading Levels with WRBs
  • #79,634
  • May 9, 2008 3:29am May 9, 2008 3:29am
I'll be Baaack...
Attached Image
FUBAR...
  • #79,635
  • May 9, 2008 3:33am May 9, 2008 3:33am
Weak Euro keeping this move tame. Weak Euro = Strong Dollar.
  • #79,636
  • May 9, 2008 3:34am May 9, 2008 3:34am
Found on 4hr. I think she'll hit and bounce. 200.50 a good bet. If she breaks this one...refer to picture above...
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  • #79,637
  • May 9, 2008 3:36am May 9, 2008 3:36am
BTW... when taking a look at DJ in addition the mentioned support line is also the neckline of an inverse H&S.

If it breaks this line, then we really go down... right now I am more long biased as we also don't have taken out the 50% fib level of the last up move from 192.52...
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  • #79,638
  • May 9, 2008 3:39am May 9, 2008 3:39am
Quoting ernesto
I consider that we will go up now... we have to close the GAPS of the share market indices...

Further I you take a look at the DJI the retracement might be done as it currently reached the mid-term-support-line @ 12.767 (very important level since February 2007). I don't think that we can break this line at 1st attempt.

Bro i feel thats just sentiments, i belive in trading what the charts say, and right now 12767 on dow is begging. we got as low as 12753. just my 2cents. My charts are screaming 200 or atleast 200.75 as quecce has pointed out.

Note it takes hours to reverse a trend do short have at least an hour to exit shorts before reversals
  • #79,639
  • May 9, 2008 3:41am May 9, 2008 3:41am
Quoting ak4x
Please Feed The Bears
hahahahahahaha!!!!
  • #79,640
  • May 9, 2008 3:44am May 9, 2008 3:44am
Quoting quecee5
198 may be very tough to break on the 1st go ar'd if it makes it that far before a nice retrace, 200.75/80 may hold things up a bit. . .
Hi Q!! Good to see you back again! Hope you enjoy the holiday and hope to hear more from you when you're back!!

All the best

Shakes
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