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

  • #82,561
  • May 20, 2008 5:26am May 20, 2008 5:26am
Quoting quecee5
4hr hour chart looks fairly bullish IMO. . .

As mentioned yesterday, 202.60/70 was good support and it should have bounced there and it did. I'm loking at 205.40 as a next target which was also strong resistance, if breached then back to 208.99 area. . .

If it fails up there then back to 204.10 then 203.50. . . A breach of 203.50 then back to 202.60/70. . .

Right now I'm long with tight stops until the charts tell me different. . .

Thanks Bro, It was a good bounce off 202.60, should have placed a long there...but it looked like the momentum was going to carry it through...Never mind. Very Bullish price action today, but wondering if this will be reversed during NY.... In all honesty I havent got a clue, and the 4hr cross-overs, QQE and Gann have let me down again, wondering if this Bullish cross-over will also uncross....
  • #82,562
  • May 20, 2008 5:28am May 20, 2008 5:28am
Quoting forexmoments
Morning, just woke up eh.
Naw, been up just watching the action and positioning myself for a trade. . .
How r u this morning bro?
  • #82,563
  • May 20, 2008 5:34am May 20, 2008 5:34am
It should not trade thru 205.xx, but of course I could be wrong as well. Heavily bearish divergence on 4 hr as well ..am short now ..it could possibly trade down to 202.xx area again.
  • #82,564
  • May 20, 2008 5:39am May 20, 2008 5:39am
Quoting mktjong
It should not trade thru 205.xx, but of course I could be wrong as well. Heavily bearish divergence on 4 hr as well ..am short now ..it could possibly trade down to 202.xx area again.

Syndicates have shaken out all weak shorts and made everyone believe the breakout is on the upside.

It's time for the real move. imho.
I AM NOT AGAINST ANY RETARD. I AM JUST AGAINST ANY WRONG/LOSING TRADES.
  • #82,565
  • May 20, 2008 5:39am May 20, 2008 5:39am
Quoting mktjong
It should not trade thru 205.xx, but of course I could be wrong as well. Heavily bearish divergence on 4 hr as well ..am short now ..it could possibly trade down to 202.xx area again.
i hope that
  • #82,566
  • May 20, 2008 5:41am May 20, 2008 5:41am
Quoting WarrenBuffet
Syndicates have shaken out all weak shorts and made everyone believe the breakout is on the upside.

It's time for the real move. imho.
Agreed.
Dow is down, US 30yr bond is up, gold is up ..all bearish recipes are lining up ..
  • #82,567
  • May 20, 2008 5:41am May 20, 2008 5:41am
DJIA futures off about 70. Looks like we are headed to 100+ down day.
  • #82,568
  • May 20, 2008 5:42am May 20, 2008 5:42am
but after my friends graduation parties I feel like this bear:

http://anitacaty.blogs.sapo.pt/arqui...ver%20copy.jpg

Good morning all
Patience + Humility + Study = Success
  • #82,569
  • May 20, 2008 5:43am May 20, 2008 5:43am
Quoting drewg
DJIA futures off about 70. Looks like we are headed to 100+ down day.


coz Karmo can call u newbies if yours is different from his.
I AM NOT AGAINST ANY RETARD. I AM JUST AGAINST ANY WRONG/LOSING TRADES.
  • #82,570
  • May 20, 2008 5:44am May 20, 2008 5:44am
Quoting DutchTrader
but after my friends graduation parties I feel like this bear:

http://anitacaty.blogs.sapo.pt/arqui...ver%20copy.jpg

Good morning all

Hahhaa .. I love that DT
  • #82,571
  • May 20, 2008 5:48am May 20, 2008 5:48am
Quoting WarrenBuffet
coz Karmo can call u newbies if yours is different from his.
I could care less what he says. I mostly trade the stock market and I am just learning how to apply that to the GBP/JPY since they frequently move the same way.
  • #82,572
  • May 20, 2008 5:49am May 20, 2008 5:49am
UJ trying to break down through the 103.64 area
Patience + Humility + Study = Success
  • #82,573
  • May 20, 2008 5:53am May 20, 2008 5:53am
Retracement to 4H 5sma is almost for sure now .. we may try to secure some pips there
  • #82,574
  • May 20, 2008 5:53am May 20, 2008 5:53am
Dow down 40 since the news and UJ the same. I hedged my position before the news and closed my longs in the small news spike and now just have bermudas....I'll watch what happens around UJs earlier lows / support in the 103.60 area...
Trading Levels with WRBs
  • #82,575
  • May 20, 2008 6:03am May 20, 2008 6:03am
It is buying time or what .. lol..
  • #82,576
  • May 20, 2008 6:05am May 20, 2008 6:05am
Cable's just making new highs for the day, but its not being supported by the euro. If it turns and UJ continues its fall I can see GJ down another 100 pips early in the US session.....the NY open will be interesting....
Trading Levels with WRBs
  • #82,577
  • May 20, 2008 6:05am May 20, 2008 6:05am
Quoting Islander
Dow down 40 since the news and UJ the same. I hedged my position before the news and closed my longs in the small news spike and now just have bermudas....I'll watch what happens around UJs earlier lows / support in the 103.60 area...
DJIA may have formed a double top yesterday. If so, we could see 12,500 in the near future.

Looks similar to the two Feb highs.

http://bigcharts.marketwatch.com/cha...ck=1&rand=3283
  • #82,578
  • May 20, 2008 6:06am May 20, 2008 6:06am
a simple chart ...
Attached Image (click to enlarge)
Click to Enlarge Name: sell2.gif Size: 50 KB
Discipline + Patience - Fear - Greed = Success
  • #82,579
  • May 20, 2008 6:07am May 20, 2008 6:07am
Looking for 103 in the near term, i.e. this session in UJ
Patience + Humility + Study = Success
  • #82,580
  • May 20, 2008 6:09am May 20, 2008 6:09am
Quoting mktjong
Retracement to 4H 5sma is almost for sure now .. we may try to secure some pips there

I have a temporarily target set to 199.xx area ..let's see
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