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

  • #85,401
  • May 29, 2008 7:09am May 29, 2008 7:09am
Quoting Islander
Dont you mean 208.75 ish? - that would be the T2 level on the chart that I just posted - the 1.618 extension....
i meany 206.75 ish ... and it was a joke. I was short earlier this morning waiting for the break at that level and it never came. the joke was on me - haha
  • #85,402
  • May 29, 2008 7:10am May 29, 2008 7:10am
Quoting rsharpe30
you did TP though didn't you? i could have sworn you said you would!! 30 to 40 pips in the bag at least?

i never close all my positions at once. i did close half of them at 40 pips last time i shorted... when i reach some profit in an undecided market, i usually set the rest at b/e
  • #85,403
  • May 29, 2008 7:13am May 29, 2008 7:13am
Quoting rsharpe30
i meany 206.75 ish ... and it was a joke. I was short earlier this morning waiting for the break at that level and it never came. the joke was on me - haha
ahem! i no meany, i nicey!

obviously "meany" should read "meant" ..... going short on the pound has given me a Japanese accent!!!!
  • #85,404
  • May 29, 2008 7:15am May 29, 2008 7:15am
GM all,

Wow .. look at the price. But this move can't go on without any significant retracement soon .. in other words, it's too way off its track
I think the max it would trend up is around 209.00...no more ..it may go down from here.. let's see..
  • #85,405
  • May 29, 2008 7:17am May 29, 2008 7:17am
Quoting mktjong
GM all,

Wow .. look at the price. But this move can't go on without any significant retracement .. in other words, it's too way off its track
I think the max it would trend up is around 209.00...no more ..it may go down from here.. let's see..
if it retraces down to 207.68 i'm buying!!!
  • #85,406
  • May 29, 2008 7:23am May 29, 2008 7:23am
Quoting rsharpe30
if it retraces down to 207.68 i'm buying!!!
ahh .. that is about at 4H 5 sma. It may bounce a bit from there but ain't sure if it would bounce a lot this time as because it has come quite a long way and probably needs more retracement if not completely reverse ..
  • #85,407
  • May 29, 2008 7:28am May 29, 2008 7:28am
Quoting mktjong
ahh .. that is about at 4H 5 sma. It may bounce a bit from there but ain't sure if it would bounce a lot this time as because it has come quite a long way and probably needs more retracement if not completely reverse ..

i think he had 1h 5sma in mind bro.
  • #85,408
  • May 29, 2008 7:29am May 29, 2008 7:29am
Quoting mktjong
ahh .. that is about at 4H 5 sma. It may bounce a bit from there but ain't sure if it would bounce a lot this time as because it has come quite a long way and probably needs more retracement if not completely reverse ..
Plus 4H bearish divergence on UJ and GJ. This b.d will play out sooner or later.
  • #85,409
  • May 29, 2008 7:30am May 29, 2008 7:30am
Quoting mktjong
ahh .. that is about at 4H 5 sma. It may bounce a bit from there but ain't sure if it would bounce a lot this time as because it has come quite a long way and probably needs more retracement if not completely reverse ..
I agree, I'm starting to scale in shorts slowly as all TF are starting to show bearish divergence, GJ at some point will retrace at least 300-500 pips if not more soon. . .
  • #85,410
  • May 29, 2008 7:30am May 29, 2008 7:30am
Quoting ukvipersden
gbp/yen and dow correlation has not been working for a while

oh well,time to brighten up this thread
there are different fluctuations in frequency and length of waves within period of congestion, thus the correlation is not obvious
  • #85,411
  • May 29, 2008 7:31am May 29, 2008 7:31am
a lot of news coming..
  • #85,412
  • May 29, 2008 7:32am May 29, 2008 7:32am
Quoting quecee5
I agree, I'm starting to scale in shorts slowly as all TF are starting to show bearish divergence, GJ at some point will retrace at least 300-500 pips if not more soon. . .
The US news came out. The unemployment increased a bit, not a good one to resume the up trend..imo.
  • #85,413
  • May 29, 2008 7:33am May 29, 2008 7:33am
Quoting samuel84
yo mate too much to drink earlier today huh?
i guess it means it opens up 208 and above..
next week we might see 206.75 IMHO
  • #85,414
  • May 29, 2008 7:34am May 29, 2008 7:34am
no good news... if this bull was betting on good news then i guess it's over for it.
  • #85,415
  • May 29, 2008 7:34am May 29, 2008 7:34am
Bearish harmonic pattern on GJ - Daily TF
Bearish harmonic pattern on UJ - 4h TF

They better play out or I'll have to kill em both
Trade what you see, not what you think.
  • #85,416
  • May 29, 2008 7:35am May 29, 2008 7:35am
Quoting lilmoe
no good news... if this bull was betting on good news then i guess it's over for it.
Agree bro .. it was a bull trap .. hehee
  • #85,417
  • May 29, 2008 7:37am May 29, 2008 7:37am
Shorted @ 208.30 1st target: 206
  • #85,418
  • May 29, 2008 7:37am May 29, 2008 7:37am
Quoting mktjong
The US news came out. The unemployment increased a bit, not a good one to resume the up trend..imo.
Great excuse to take profit for "months end" later today. . .
I'm short a small lot on average @ 208.25 and will continue to add as it goes higher. . . The retracement is forthcoming at this point it's just a matter of time for the momentum increases. . .

Happy trading to all today. . .
  • #85,419
  • May 29, 2008 7:37am May 29, 2008 7:37am
why the farkjlkjk aren't u responding to bearish DIVERGENCES????????????
  • #85,420
  • May 29, 2008 7:38am May 29, 2008 7:38am
Quoting karmostaji
Bearish harmonic pattern on GJ - Daily TF
Bearish harmonic pattern on UJ - 4h TF

They better play out or I'll have to kill em both
They will with a couple of your patient pills. . . LOL!
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