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

  • #88,161
  • Jun 3, 2008 3:53pm Jun 3, 2008 3:53pm
Quoting quecee5
I think we will drop to at least to 203/202.90 later 2day and then back up to challenge the dalily pivot before heading to 200 or below by the end of the week. . .
what is today for you?
  • #88,162
  • Jun 3, 2008 3:57pm Jun 3, 2008 3:57pm
Quoting quecee5
Bro, agreed with the Fed remarks but I've seen intervention happen time and time again but it never works long-term. . . The market has to ultimately go thru it's own cycle not be forced - JMHO. . .

Below is my take on the current situation. . .

I see divergence on the ZL MACD on all TF's posted except 4hr chart which could start to reverse soon. . .

I think eventually the daily chart divergence will play out and we will see a big fall back toward 198. . .

The reason I say this is, lower hi from a rejection @ 209, also the uptrend chanell on 4hr chart was broken ealier this a.m. suggesting that a short-term top is in place. . .

I think we will drop to at least to 203/202.90 later 2day and then back up to challenge the dalily pivot before heading to 200 or below by the end of the week. . .

My strategy is to sell all rallies. . .
My two cents. . .

1hr, 4hr, daily chart for u
You are not alone on this one..... thanx for sharing your thoughts!!!
  • #88,163
  • Jun 3, 2008 4:01pm Jun 3, 2008 4:01pm
New daily momentum is BEARISH

S H O R T S r ON
Trade what you see, not what you think.
  • #88,164
  • Jun 3, 2008 4:04pm Jun 3, 2008 4:04pm
Quoting karmostaji
New daily momentum is BEARISH

S H O R T S r ON
Just realized, got carried away again with shorts like last friday... One MAD short position I have!!!!
  • #88,165
  • Jun 3, 2008 4:05pm Jun 3, 2008 4:05pm
I think price will be stuck in this area between the 1h 200ema and the 100sma for a little while.....
Attached Image (click to enlarge)
Click to Enlarge Name: 1hg.GIF Size: 17 KB
Patience + Discipline - Greed = Success
  • #88,166
  • Jun 3, 2008 4:05pm Jun 3, 2008 4:05pm
If we ignore the spikes and look just at the opening and closing prices, we will notice that a perfect 50% fibo retracement happened and failed to brake the top.Today I would expect at least the retest of 204.00...
http://img441.imageshack.us/img441/8...jpy4mj9.th.gif
  • #88,167
  • Jun 3, 2008 4:12pm Jun 3, 2008 4:12pm
Quoting Küster
If we ignore the spikes and look just at the opening and closing prices, we will notice that a perfect 50% fibo retracement happened and failed to brake the top.Today I would expect at least the retest of 204.00...
http://img441.imageshack.us/img441/8...jpy4mj9.th.gif
204 won't hold this time. . .
Price will see 202.90 area 1st target, daily chart will start to play out sooner than later. . . I think we'll start to see price slide ar'd the Tokyo fix which happens ar'd 9 pm EST or in about 4 hrs. . .
  • #88,168
  • Jun 3, 2008 4:12pm Jun 3, 2008 4:12pm
Quoting karmostaji
New daily momentum is BEARISH

S H O R T S r ON
So, if trade based on this indicator .. most likely on Friday you would hear the ding ding ding sound ..
  • #88,169
  • Jun 3, 2008 4:14pm Jun 3, 2008 4:14pm
Quoting quecee5
204 won't hold this time. . .
Price will see 202.90 area 1st target, daily chart will start to play out sooner than later. . . I think we'll start to see price slide ar'd the Tokyo fix which happens ar'd 9 pm EST or in about 4 hrs. . .
I also think it wont hold...It's just my TP...
  • #88,170
  • Jun 3, 2008 4:17pm Jun 3, 2008 4:17pm
Breaking NEWS:

3 hours ago
California Housing: Buy One Home, Get One Free! Really!
Posted By:Diana Olick
Topics:Interest Rates | Housing | Real Estate
Sectors:Financial Services | Construction and Materials

http://media.cnbc.com/i/CNBC/Section...get1_free1.jpg

CNBC.com

Buy One House, Get One Free
I would say this is a shocker, but frankly nothing in the real estate market shocks me anymore.
Apparently a developer in San Diego is offering a “Buy One, Get One Free” deal on homes, yes homes (the offer was supposed to expire 5/31 but they extended it to 6/30).
If you buy one of Michael Crews Development’s luxury homes, priced at around $1.6m, you get a 2,000 square-foot cityscape row-home worth $400,000 for free. The luxury home is in San Pasqual Valley, the row-home in Escondido. Oh, and the row homes last year were selling for around $529,000.
The sales staff at Michael Crews claims there are no hidden costs, no gimmicks, nothing. It’s just the builder’s way of dealing with the down times, which in California are way way down times. “The market is what it is,” Dawn Berry, of Michael Crews, told me this morning.
So far nobody has taken the deal, although Berry says there are more than a few handfuls of people in “serious talks” with their sales associates. In any case, “we’re just happy to see more traffic coming through,” she adds. Berry refused to call it a “desperate” move.

LOL

And the story goes on.........

But I still have the better solution. You should try it sometime.

Dr. D.
  • #88,171
  • Jun 3, 2008 4:20pm Jun 3, 2008 4:20pm
Quoting karmostaji
New daily momentum is BEARISH

S H O R T S r ON
But if short based on divergence, then you'd probably never hear the ding ding ding sound .. j/k
Seriously, on 4H chart, if you ask Scrat, he would probably tell u, there is a 'hidden bearish' divergence .. am watching it as well
  • #88,172
  • Jun 3, 2008 4:20pm Jun 3, 2008 4:20pm
Anyone agree that we see 203 and then bounce back to challange 209 area and then back to 200. I say this cause 203.50 is a significant s/r level and a a bounce from there is inevitable.
  • #88,173
  • Jun 3, 2008 4:21pm Jun 3, 2008 4:21pm
Not too sure about that.
  • #88,174
  • Jun 3, 2008 4:25pm Jun 3, 2008 4:25pm
Quoting fourxtrader
Breaking NEWS:

3 hours ago
California Housing: Buy One Home, Get One Free! Really!
Posted By:Diana Olick
Topics:Interest Rates | Housing | Real Estate
Sectors:Financial Services | Construction and Materials


http://media.cnbc.com/i/CNBC/Section...get1_free1.jpg

LOL

And the story goes on.........

But I still have the better solution. You should try it sometime.

Dr. D.
Amazing .. unbelievable .. hope those homeless people in CA can have a shelter soon or at least can afford a rent. This news would hopefully slash the renting fees or the opposite (?)
  • #88,175
  • Jun 3, 2008 4:27pm Jun 3, 2008 4:27pm
Quoting vinesh2
Anyone agree that we see 203 and then bounce back to challange 209 area and then back to 200. I say this cause 203.50 is a significant s/r level and a a bounce from there is inevitable.
Nope, if we get that low that means we would have broken thru the daily pivot and the Daily chart divergence would be playing out so I would expect a lower high so a re-test of resistance @ DP 205.80 would be the high IMO, then down to 202.50/200 area. . . Just depends on how sharp the drop.
  • #88,176
  • Jun 3, 2008 4:31pm Jun 3, 2008 4:31pm
I see the formation we have now as a bull flag of todays move up.

On the 30 min we will likely get a retracement to 205.5 ( 50% fib of move up ) and then buyers may enter there , forming a 1-2-3 buy formation on A 30 min that we draw fib extensions for targets to the upside.

These lead to possible upside targets of :

206.70
207
207.45
208
208.65
and 209.30

These are the fib levels.
I close my shorts this morning at 205.50 locking in 200 pips in profit.

I am in a sell right now on a 5 min with downside target 205.5

Attached Image (click to enlarge)
Click to Enlarge Name: gj.png Size: 160 KB
Blogging daily now at www.volume.zone
  • #88,177
  • Jun 3, 2008 4:36pm Jun 3, 2008 4:36pm
i see the same thing. down, then up again.

Quoting malcolmb14
I see the formation we have now as a bull flag of todays move up.

On the 30 min we will likely get a retracement to 205.5 ( 50% fib of move up ) and then buyers may enter there , forming a 1-2-3 buy formation on A 30 min that we draw fib extensions for targets to the upside.

These lead to possible upside targets of :

206.70
207
207.45
208
208.65
and 209.30

These are the fib levels.
I close my shorts this morning at 205.50 locking in 200 pips in profit.

I am in a sell right now on a 5 min with downside target 205.5

Attachment
Nihil Sine Deo.
  • #88,178
  • Jun 3, 2008 4:40pm Jun 3, 2008 4:40pm
have you recognized that there is no net change for the recent 30 days on gj? this means monthly trend will be predominating. assuming we made the low for the month its all up now. just a minor chance of aligning that low to around 203. it's been fast, so it plans to reach high too.
connecting the highs it reaches straightly to 213.70, amazing.
  • #88,179
  • Jun 3, 2008 4:42pm Jun 3, 2008 4:42pm
Quoting vinesh2
Anyone agree that we see 203 and then bounce back to challange 209 area and then back to 200. I say this cause 203.50 is a significant s/r level and a a bounce from there is inevitable.



but not 209
  • #88,180
  • Jun 3, 2008 4:46pm Jun 3, 2008 4:46pm
Hmmm.. we have conflicting analysis here. Malc is saying we are going to 205.50 and then up. Q and Karmo are saying 203 and lower.
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