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

Quoting damonl

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It is funny that you mention this. Here is a chart that shows D1 TL in Red and W1 TL in blue.

I was thinking about placing a short around 203.5 - 203, somewhere in that vacinity (can anyone narrow it down closer?), with a ATR s/l or so and then taking that down to the W1 TL at around 197 or so. This looks like a pretty good trade to me. Then wait for the Bullish Divergent bar off W1 TL on the D1 chart and take it back up again.

Sounds like winner to me. Anyone else.....

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Quoting lilmoe

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big time winner if u as me. 1000 pips either way at least.

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Quoting damonl

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Sounds like it...I am thinking of also when the short is triggered to then place a couple orders with price action (assuming it does go back south) at the low of Friday's bar and compound some pips after already in some nice profit.

Also lilmoe....would you then place abuy order at your S/L setting for the short that would have triggered, is that the way you are thinking about playing this out?

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Quoting lilmoe

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well actually. even if my shorts' SLs were hit. i wont "jump" in to the long trades. i will wait a couple more days and see how things will play out. if the TL was breached upwards, u wont see a 1000 pip upwards movement as fast as two days, at least that's what i think.

here's a weekly chart that would describe my targets for either shorts or longs. this Fibo Extension has been playing out really nicely for the past 9 months. take a look.

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Quoting lilmoe

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btw, i'm not into fundies too darn much. but i think i have a very humble opinion concerning the yen.

japan is one of the biggest exporters and manufacturers in the world. lately, lots of Japanese manufacturers have been outsourcing their assembly lines to china, tailand, and other countries where labor is "cheaper" just like what the US was doing a long time ago. now if u look at it from a local manufacturing perspective. a japanese car that used to cost 10K sterning pounds back in july of last year, now it costs around 13K at least. that's one of the major reasons they have outsourced their assembly lines. HOWEVER, these manufacturers still consider their annual profits in terms of Yen, which has made a major draw down in annual profit margins. i truly don't think they will allow more of that in the near future.

yes, history repeats itself. BUT, people do learn from previous mistakes. and i don't think the 9300 point drop of GJ in 1998, and the other 15600 drop in 1990 will happen any time soon.

here's another "stupid" theory
our drop from 251 to 192 is a total of 5900 pips so far.

here's a bit of math (i have no idea where i got from, but i made sense for a bit for me)

15600 / 9300 = 1.68

9300 / 5900 = 1.57

close enough number to be a fibo level, right?
conclusion: this MIGHT be the "Bottom".

no i'm nothing special, and i have been WAYYYY wrong in the past.
this is just personal conclusions, didn't get from anywhere, and i don't have any technical or fundamental proof.

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Quoting lilmoe

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btw, i'm not into fundies too darn much. but i think i have a very humble opinion concerning the yen.

japan is one of the biggest exporters and manufacturers in the world. lately, lots of Japanese manufacturers have been outsourcing their assembly lines to china, tailand, and other countries where labor is "cheaper" just like what the US was doing a long time ago. now if u look at it from a local manufacturing perspective. a japanese car that used to cost 10K sterning pounds back in july of last year, now it costs around 13K at least. that's one of the major reasons they have outsourced their assembly lines. HOWEVER, these manufacturers still consider their annual profits in terms of Yen, which has made a major draw down in annual profit margins. i truly don't think they will allow more of that in the near future.

yes, history repeats itself. BUT, people do learn from previous mistakes. and i don't think the 9300 point drop of GJ in 1998, and the other 15600 drop in 1990 will happen any time soon.

here's another "stupid" theory
our drop from 251 to 192 is a total of 5900 pips so far.

here's a bit of math (i have no idea where i got from, but i made sense for a bit for me)

15600 / 9300 = 1.68

9300 / 5900 = 1.57

close enough number to be a fibo level, right?
conclusion: this MIGHT be the "Bottom".

no i'm nothing special, and i have been WAYYYY wrong in the past.
this is just personal conclusions, didn't get from anywhere, and i don't have any technical or fundamental proof.

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Quoting DutchTrader

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Very nice conjecture and could very well be true. Good stuff

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Quoting DutchTrader

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One must also keep a close eye on the UJ

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Quoting lilmoe

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again. it's all about perspective big guy

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Quoting DutchTrader

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One must also keep a close eye on the UJ

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Quoting DutchTrader

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One must also keep a close eye on the UJ

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Quoting lilmoe

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Quoting DutchTrader

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You know what I'm gonna post, you know what I'm gonna post. Don't make me post it, dont' make me!!

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Quoting mktjong

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Speaking of UJ, I see a bearish divergence on 4 hour chart. This in fact co-relates with Geppy to retrace up to daily 5 sma (hopefully)

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Quoting mktjong

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Sorry.. I meant a bullish divergence

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Quoting DutchTrader

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Look at the daily/weekly UJ

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