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

I am new at this but is it a head and shouldes on daily or triple up and what iti meens for trade?Please help

Price also stopped on the 50% fibo line of the fall from 206.7 to 204.6...It could be the continuation of the down trend with the next targec set to 203.60.Only time will tell...

here's what i'm looking at right now. there's a nice bearish pennant on my 4h chart (couldn't get the same thing to show on ibFX, but it's clear on my broker's platform (gmt+3))

i also mentioned if price closes above 205.81-90 (different on other brokers) then we might be heading to FE 78.6 again (on the same chart) which would be a very hard breach (again not to pierce through, but actually close above). usually i've been noticing GJ to give lots and lots of false breaks here and there. but the basics come to rule out those false breaks. this IS called a bearish pennant. coinciding with the upper TL is a fibo fan level. the line in green is the daily TL.

if this is breached upwards then the daily will be in the way. otherwise, FE 78.6 (206.68) will block the sucker. the other FE level are pretty good resisntance too.

i mentioned 4-5 hours earlier that this thing will keep ranging for the week until oil reaches the lows it needs to reach. i have lots of things in mind to think that way. would share it with u guys if it actually works, otherwise it's not worth sharing. i'm pretty positive this won't be going up much (if it ever did).

the daily TL u pointed it is destined to get breached. sooner or later. but 213? maybe, a week or before, but now? i don't think so. it's harder than before. i don't even see actually price going above 207.20... have i been wrong before? yes. actually i said yesterday that we will arrive at 203.5 - 204... i missed by 50 pips. and i was wrong again. i said it would bounce and make a 61.8 retracement from there, again, i was wrong. it has only made 50%

so i really don't see where u guys have proved me wrong. i was simply talking about dow jones today and yes dow closed on a low, but didn't breach yesterday's low.


here's my chart
goodnight everyone, have a nice asian session.

Well slap me! Closed higher than I expected, but only by a couple dozen pips from original post. Original short closed earlier today at profit, and even better re-entry at 5.30 on a limit hit, courtesy of Ben I think. So still in the Uj short.

EU long should be good and wouldn't be surprised to see the tight stops taken out first after sitting for 32 hours... Todays S1 and yesterdays low are both at 5410...

Here is a chart with an important bearish pattern...
http://img341.imageshack.us/img341/1...jpy5fl1.th.gif

lilmoe dont wory.Let them be.You just expres your thinking.If somebody dont like it so what.If he dont understand so what.You can explane or not.Keep with work.Personaly i learn a lot by you and i thank you for that.Lol

Looks like crude oil has some serious to catch up to the upside. Good for EU long (?)

dang, convincing. talking about catchup we better take ucad, no?

Please if oil goes down how currencies react.I am not kiding this is seriously question.

that last dip in stochs will make a another then hit it

actuall and bounce buy that retrace of that bounce on lo volume

really depends on the commodity and the involved currencies in the industry. for oil there is cad, pound and some others afaik. generally not good for usd.

Thanks

closed geppy and reversed short YEN

#88,888

me off, cu later

short yen or UJ?

Usd/Cad and Eur/Cad are good candidate for short due to Canada as oil producer. Historically, Eur would also benefit more than Usd when oil is up and it's a bit complicated subject as to why. In short: World oil prices are quoted in U.S. Dollars. Therefore, appreciation in OPEC's energy assets has been more than offset in Dollar deterioration.

I apologized if I can hardly understand your language. Could u please explain it a bit more plainly? Thanks OrionsWay

this is to slow for me.See you in London sesion.Lol

Sell:

Price: 205.75
Stop: 206.25
Profit: 204.75

2% Risk
4% Potential Gain

1 : 2 ---- Risk : Reward

Neither talk EURCAD ......moves like gj .... just a lot nicer. In a long with 200 pips right now.