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

Quoting ahmadj77

Disliked

I'm new here ... i was learning a lot today
Thanks all and have a nice weekend

Ignored

Quoting Geldmeister

Disliked

*** Monday is also a public holiday in UK ***

Ignored

Quoting uplink

Disliked

overslept before closing my position..have to paid extra swap now...
i prefer not leaving my short goes into intraday...


anyone still short, other then this guy?

(i hope you don't mind Infinity..)

Ignored

Quoting Infinity

Disliked

No worries uplink

I hope you got a good entry and have stops in place because this thing can gap either way. I see a double bottom on the 1h chart with stoch pointing up and all this is happening after a bounce off the 1h 100sma. I expected this area to be tough support but just how tough will be seen early next week. I guess all you can do now is hope for a gap south or no gap at all....
I closed all my positions early today and will look to start fresh next week. Good luck and have a good weekend....

Bless

Ignored

Quoting samclider

Disliked

Wow Good Analaysis

GJ Reversal .

Ignored

Quoting malcolmb14

Disliked

OK so let's have a look at what went on last week..... gj consolidated for days then had a very impulsive move up to 206.6 zone. Since then it has dropped back under that psychological whole number 205 , with ease I might add, adding to the bearish bias.

Here is the 8 hours chart ... there is a bearish divergence in the rapid rsi , and we tested the bottom of the flag on the daily.

I have made the assumption that the trend on the 8 hour is still down due to the lower high we set this week when compared to May 2nd. I plotted a fib extension on a 1-2-3 sell pattern on the 8 hour ( pink line) , and have plotted a 2 sd linear regression channel ( down ward sloping one).

Lets just assume that the gbpusd uptrend is weakening as , for the 1st time in days , we got a lower high on the daily , not just that but on a 60 min we have a double top at 1.9800 zone with bearish div on macd , and regular rsi . The strength in the GBPUSD is what has been keeping gj afloat.

So if the gu trend breaks down and in fact the high of 206.64 this week was a lower high on the 8 hour I have applied a downward projection for the gj for next week ( blue line from 205 down to 199).

From my analysis I have good reason to think the gj is going to collapse next week , and that we may see 199.5 by June 3rd or earlier. That would be onyl the 1st target , as looking back in late 2007 on the weekly there is a 10 week pattern , VERY similar to the one that is completing now. The drop of the gj after that pattern was completed was 4000 pips over the next few months.

Attachment

Ignored

Quoting warta

Disliked

it was a good move after the gartley bullish pattern

Attachment

Ignored

Quoting malcolmb14

Disliked

OK so let's have a look at what went on last week..... gj consolidated for days then had a very impulsive move up to 206.6 zone. Since then it has dropped back under that psychological whole number 205 , with ease I might add, adding to the bearish bias.

Here is the 8 hours chart ... there is a bearish divergence in the rapid rsi , and we tested the bottom of the flag on the daily.

I have made the assumption that the trend on the 8 hour is still down due to the lower high we set this week when compared to May 2nd. I plotted a fib extension on a 1-2-3 sell pattern on the 8 hour ( pink line) , and have plotted a 2 sd linear regression channel ( down ward sloping one).

Lets just assume that the gbpusd uptrend is weakening as , for the 1st time in days , we got a lower high on the daily , not just that but on a 60 min we have a double top at 1.9800 zone with bearish div on macd , and regular rsi . The strength in the GBPUSD is what has been keeping gj afloat.

So if the gu trend breaks down and in fact the high of 206.64 this week was a lower high on the 8 hour I have applied a downward projection for the gj for next week ( blue line from 205 down to 199).

From my analysis I have good reason to think the gj is going to collapse next week , and that we may see 199.5 by June 3rd or earlier. That would be onyl the 1st target , as looking back in late 2007 on the weekly there is a 10 week pattern , VERY similar to the one that is completing now. The drop of the gj after that pattern was completed was 4000 pips over the next few months.

Attachment

Ignored

Quoting hussin naiji

Disliked

hi warta
you are in bull camp ?

Ignored

Quoting hussin naiji

Disliked

also
in the daily candle chart GJ we see a kabuse pattern
attention to daily open this candle

Ignored

Quoting warta

Disliked

hi dear hussein hows u bro hope u r fine
sure no bro am not am bear camp but there is no bear before bull move hahah
have a nice day bro keep in touch

Ignored