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

  • #88,781
  • Jun 4, 2008 1:57pm Jun 4, 2008 1:57pm
Quoting mktjong
Man .. first is testing the water, just like spying to gather all the info, then second time it comes with all the required armors to bomb there and here, in a matter of seconds, all become ashes.. not including me I hope ..

be prepared to get in your shelter
  • #88,782
  • Jun 4, 2008 1:58pm Jun 4, 2008 1:58pm
Dow down 60 points support at 13162 but GJ not moving hmmm. Q stop buying!
  • #88,783
  • Jun 4, 2008 1:58pm Jun 4, 2008 1:58pm
Quoting ak4x
Or not!!

I present to you the...." Bernake talkamucho spikeyupper " candle pattern on 3m
That didn't do anything but confirm the bearishness on this pair for the moment. Just have to wait for the close now to see what happens. I'm thinking it will close bearishly.
Attached Image (click to enlarge)
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I dream, therefore I become.
  • #88,784
  • Jun 4, 2008 1:59pm Jun 4, 2008 1:59pm
Quoting toyboy tramp
U/J, G/J, USD index are all pushing against the mid-term down trend channel after a three month bearish flag...Cable is heading back to 1.944, major support. Oil and Gold have seen a sell off. But the big boys are still holding dollars as they think its bottomed, is this why the DJIA decline hasn't been mirrored in forex?

I'm no economist but maybe there is no big fall coming? On the G/J long term, March's low could easily be a bottom on the multi-year up trend...G/J's recent behaviour favours a break out to the upside IMVHO, but I'm still learning her moves, and the bear in me wants that drop to 192 as much as you do, but what if there isn't one?

GJ going back to test 207.60's/208.40's before heading back toward 198. . .
  • #88,785
  • Jun 4, 2008 2:00pm Jun 4, 2008 2:00pm
The spikes aren't what they used to be in the old days (yesterday).
  • #88,786
  • Jun 4, 2008 2:02pm Jun 4, 2008 2:02pm
Quoting vinesh2
Dow down 60 points support at 13162 but GJ not moving hmmm. Q stop buying!
LOL!

Actually I've been trading/scalping EU and UJ all day with nice lot sizes collecting anywhere from 30-50 pips each trade. . . Had to do something to pass time will GJ up/down, up/down/ up/down. . .
  • #88,787
  • Jun 4, 2008 2:03pm Jun 4, 2008 2:03pm
h4 chart for lilmoe. this is why i am not short big time. yet.
but we're going there, slowly and surely.

p.s. later edit: i put the trendline using the swings indicated by white arrows. now, if you look at the last test, you can see that last swing reached trendline BUT the oscillators were already extremely oversold (compare price and indicators indicated by white hands...). this is not the way a breakout should look.

Quoting lilmoe
mixed feelings

we are going to have lots of these feelings, trust me. they want all the small fry out of the market before the drop

hold on bro, hold on. be patient, and ready
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #88,788
  • Jun 4, 2008 2:06pm Jun 4, 2008 2:06pm
Quoting lilmoe
be prepared to get in your shelter
ehem ..ehem .. whatt .. I cannn't heaaarrr youuu .. wwhhhattt .. aggaaiinn.

  • #88,789
  • Jun 4, 2008 2:12pm Jun 4, 2008 2:12pm
Hmmm....is it going to 206.40 or higher?......

got small long @ 205.26 with + 40 pip trailing stop
  • #88,790
  • Jun 4, 2008 2:12pm Jun 4, 2008 2:12pm
So what about the daily candle which looks like it may turn into a bearish spinning top? To me this is all bs price action...not real and I'm not taking it into account. BOE meeting tomorrow will sort this pair out. 1 day ranging after a drop and what? everyone is going long because it didn't go South another 500pips? Anyone heard of consolidation/bear flag/etc etc?

I'll get my hat (yes, I am holding Short )
  • #88,791
  • Jun 4, 2008 2:15pm Jun 4, 2008 2:15pm
Quoting shakesfx
So what about the daily candle which looks like it may turn into a bearish spinning top? To me this is all bs price action...not real and I'm not taking it into account. BOE meeting tomorrow will sort this pair out. 1 day ranging after a drop and what? everyone is going long because it didn't go South another 500pips? Anyone heard of consolidation/bear flag/etc etc?

I'll get my hat (yes, I am holding Short )
I'm with you for the moment Shakes. I have a tight stop in place however, but in reality, it's just a businessman's risk. It would have been stupid not to take the trade due to the high reward for the low risk. I've added another at this level and have my stop at 205.90. Price action will lead the way if we are to see a reversal and if not, then I'll be stopped out.
I dream, therefore I become.
  • #88,792
  • Jun 4, 2008 2:18pm Jun 4, 2008 2:18pm
break and close above 205.81 is bullish short term....the next bar closing in 42 minutes will be crucial.....we should keep our eyes on it...:nerd:
Patience + Discipline - Greed = Success
  • #88,793
  • Jun 4, 2008 2:19pm Jun 4, 2008 2:19pm
Arggg!! who's buying the Pound this late in the afternoon
  • #88,794
  • Jun 4, 2008 2:19pm Jun 4, 2008 2:19pm
Quoting shakesfx
So what about the daily candle which looks like it may turn into a bearish spinning top? To me this is all bs price action...not real and I'm not taking it into account. BOE meeting tomorrow will sort this pair out. 1 day ranging after a drop and what? everyone is going long because it didn't go South another 500pips? Anyone heard of consolidation/bear flag/etc etc?

I'll get my hat (yes, I am holding Short )

pay up x3 for a what if it might go south, they have been buying since the LO. tomorrow is a sell day= rally day after that is a short sell day= rally and liquidation only to step into a buy day on monday which should be releif me thinks for the bleeding. MAYBE
"Millionaires don't use astrology, billionaires do"
  • #88,795
  • Jun 4, 2008 2:19pm Jun 4, 2008 2:19pm
Quoting Infinity
break and close above 205.81 is bullish short term....the next bar closing in 42 minutes will be crucial.....we should keep our eyes on it...:nerd:
I agree with you 100%. That's why my stop is jsut above there. We could easily see a touch of it but I doubt a close above. If so, I'm flat for the moment and waiting for a better opportunity.
I dream, therefore I become.
  • #88,796
  • Jun 4, 2008 2:20pm Jun 4, 2008 2:20pm
Quoting Infinity
break and close above 205.81 is bullish short term....the next bar closing in 42 minutes will be crucial.....we should keep our eyes on it...:nerd:
If u notice, the bullish divergence on Dow is even more severe now ..
  • #88,797
  • Jun 4, 2008 2:22pm Jun 4, 2008 2:22pm
Yen is gonna tear the top to pieces observe
"Millionaires don't use astrology, billionaires do"
  • #88,798
  • Jun 4, 2008 2:26pm Jun 4, 2008 2:26pm
I recommend a good article (theres also a link to audio at the beginning of the article) for a better understanding of our markets.

Enjoy

http://www.scoop.co.nz/stories/HL0405/S00268.htm
  • #88,799
  • Jun 4, 2008 2:27pm Jun 4, 2008 2:27pm
re-entry is a sell limit at M3 (105.30) pivot on UJ w/ Upper BB just above that, and SL just a bit above that at 53
Attached Image
FUBAR...
  • #88,800
  • Jun 4, 2008 2:32pm Jun 4, 2008 2:32pm
Quoting mike w
I'm with you for the moment Shakes. I have a tight stop in place however, but in reality, it's just a businessman's risk. It would have been stupid not to take the trade due to the high reward for the low risk. I've added another at this level and have my stop at 205.90. Price action will lead the way if we are to see a reversal and if not, then I'll be stopped out.

I think you'll prob. get spiked with a SL that tight bro.

These are my feelings about this pair at the moment to everyone else and is NOT directed at you, I just need to state it:

I am bored with the bank action at the moment, and every trader saying "well if it goes here, then it will do this, or that, blah blah blah."

I'm also bored with the 100pip swing mentality of "oh, its gone up 100pips...BULL market"..."Oh its gone down 100 pips BEAR market" blah blah blah. Maybe I'm dealing with 20-30 pip or demo traders...and frankly i can't be arsed.

I see patterns, strong patterns, and I will not be swayed, these patterns are PA and they are not to be ignored (by me anyway, I have a living to make). Yes, I am married to my Shorts, if they get stopped then so be it. But I do not intend to stare at a monitor for the next 2 years, I intend to "sell in May, Go away" and then next year "April and May - stay away LOL". I said the same in 2006 when G/U was at 1.975...BUY BUY BUY...everyone said "bollocks" never mind 3000pips later at £20 per pip.

Good analysis just isn't here anymore (apart from a few of the dedicated, you know who you are bros,..many thanks)) and is starting to piss me me off.

Good night.
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