Auslanco - GBP/JPY and GBP/USD (newstrade)
- #81,841
- May 17, 2008 1:37am May 17, 2008 1:37am
- | Joined Dec 2007 | Status: Wish I had more capital !! ;-) | 1,050 Posts
- #81,842
- May 17, 2008 1:38am May 17, 2008 1:38am
- | Joined Apr 2008 | Status: You never know | 1,306 Posts
Expected the unexpected
- #81,843
- May 17, 2008 1:43am May 17, 2008 1:43am
- Joined Sep 2006 | Status: Collector | 9,833 Posts
Don't believe xe.com. I find their prices on the weekend unreliable. Check oanda.com. They allow trading on the weekend, so their prices are true real time even when most brokerage firms are closed.
- #81,846
- May 17, 2008 5:54am May 17, 2008 5:54am
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
- #81,847
- May 17, 2008 8:44am May 17, 2008 8:44am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
Do I see a head and shoulders appearing on the Daily??
Left Shoulder 4th April
Head 16th - 30th April
Right Shoulder 14th - 15th May
What do you think?
Cheers, have a good weekend everyone.
u did it again!!!!!!NEVER mention a head and shoulders formation, NEVER!!!!
u think i never noticed????????
everytime u do the neckline is never breached and the entire thing gets screwed up
- #81,848
- May 17, 2008 8:51am May 17, 2008 8:51am
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
NEVER mention a head and shoulders formation, NEVER!!!!
u think i never noticed????????
everytime u do the neckline is never breached and the entire thing gets screwed up
Opps! I'll get my hat...
- #81,849
- May 17, 2008 9:12am May 17, 2008 9:12am
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
Before I get my hat....The 4hr does look good for Shorts. I'll forget about the H+S thingy on daily till we get there
- #81,850
- May 17, 2008 9:30am May 17, 2008 9:30am
- Joined Sep 2006 | Status: Collector | 9,833 Posts
NEVER mention a head and shoulders formation, NEVER!!!!
u think i never noticed????????
everytime u do the neckline is never breached and the entire thing gets screwed up
- #81,851
- May 17, 2008 10:44am May 17, 2008 10:44am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Do I see a head and shoulders appearing on the Daily??
Left Shoulder 4th April
Head 16th - 30th April
Right Shoulder 14th - 15th May
What do you think?
Cheers, have a good weekend everyone.
Interesting you mention that .. .there is a very clear head and shoulders on the GBPUSD daily right now with a neck line at 1.9400. This is also a VERY strong support level on the GBPUSD on the weekly back from 2004 / 2005.
If this breaks it will also take the gj down with it.
Blogging daily now at www.volume.zone
- #81,852
- May 17, 2008 10:55am May 17, 2008 10:55am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
try with inverse H&S maybe it is going to work out
- #81,854
- May 17, 2008 11:24am May 17, 2008 11:24am
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #81,856
- May 17, 2008 11:39am May 17, 2008 11:39am
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
Interesting you mention that .. .there is a very clear head and shoulders on the GBPUSD daily right now with a neck line at 1.9400. This is also a VERY strong support level on the GBPUSD on the weekly back from 2004 / 2005.
If this breaks it will also take the gj down with it.
Attachment
We have a daily high probability Bearish reversal Candle pattern on U/J, normally G/J will be dragged long with it. But we have a daily high probability Bullish reversal candle pattern on G/U which was proceeded by 2 hammers. I think G/U may not test the neckline again and is about to rally.The daily Bearish Candle formations on U/J and G/J are almost identical.
The daily Bullish Candle formation on G/U is inverse to U/J and G/J.
Problem is which one will G/J decide to follow? There has been a stance from both Y and £ regarding alarm over inflation and the possibilty of interest rate rises again next year....But also the $ has concern over inflation too....I think we are at a major crossroads. My head is screaming "North" for G/J, but I'll stick to what my chart is saying (South) and see if it plays out this week...
BUT, if G/U breaks its neckline then I'll be keeping my Bermuda's on till 192
Thinking out aloud again...sorry but it helps me!!
- #81,857
- May 17, 2008 11:53am May 17, 2008 11:53am
- Joined Apr 2008 | Status: Trader | 7,674 Posts
Problem is which one will G/J decide to follow?
* GU and GJ can move in same direction if there is pound selling or buying, while UJ can stand still if there is no interest in the Yen or dollar.
* GJ and UJ can move in same direction if there is yen buying/ selling, while GU can stand still if there is no interest in the pound or dollar.
Please don't think too hard, and also I feel GJ is more likely to follow the other crosses, EJ, NJ, AJ. Especially EJ. Also remember your emotional feelings on where this pair will have no influence on the market.
- #81,858
- May 17, 2008 12:01pm May 17, 2008 12:01pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #81,859
- May 17, 2008 12:04pm May 17, 2008 12:04pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
The daily Bearish Candle formations on U/J and G/J are almost identical.
The daily Bullish Candle formation on G/U is inverse to U/J and G/J.
Problem is which one will G/J decide to follow? There has been a stance from both Y and £ regarding alarm over inflation and the possibilty of interest rate rises again next year....But also the $ has concern over inflation too....I think we are at a major crossroads. My head is screaming "North" for G/J, but I'll stick to what my chart is saying (South) and see if it plays out this week...
BUT, if G/U breaks its neckline then I'll be keeping my Bermuda's on till 192
Thinking out aloud again...sorry but it helps me!!
The other thought is when 2 year yields were this high recently the USDJPY was at 108 .... does that mean that the UJ has 300 pips of catch up to do and does the 2 year yield signify a major move in the currency to come ?
Blogging daily now at www.volume.zone
- #81,860
- May 17, 2008 12:04pm May 17, 2008 12:04pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts