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

  • #89,981
  • Jun 6, 2008 7:50am Jun 6, 2008 7:50am
sure it will toy.

I say sure....I mean..I think
  • #89,982
  • Jun 6, 2008 7:51am Jun 6, 2008 7:51am
lilmoe, here's how i see it: the actual move on h4 started at 203.96 and looks like an impulse so far, so it should have 5 subwaves: - 1: 203.96 - 207.12 - 2: 207.12 - 204.51 - 3: 204.51 - to now? looks to me like it is already matured. - 4: now - 206.80 area (4 should not break 1... which by my calculations is at 206.80 area), so that's why we saw that strong rebound of the spike. - and 5: above 209.31 IF i see 206.80 broken, then this scenario doesn't stand anymore. but until then, i'm still bullish.
Quoting lilmoe
i can't believe there were that many buyers at 206.80. (DP and lower TL)
Nihil Sine Deo.
  • #89,983
  • Jun 6, 2008 7:52am Jun 6, 2008 7:52am
Quoting toyboy tramp
If that PB stays valid I'm exiting all shorts
I don't us news related bars for Price Action.

If I did, that would be a Hanging Bar and it would signal a trend reversal (At least that how I have understood and played it). The H4 trend is Up thus I would think based on PA it would go down. I am sure Karmo will correct me if I am misunderstanding that, but it is how I have been playing them.
Que
  • #89,984
  • Jun 6, 2008 7:52am Jun 6, 2008 7:52am
Quoting shahroodi
bear trap or bull trap??http://qsmile.com/qsimages/73.gif http://qsmile.com/qsimages/73.gif
LOOL
No bro .. it was a bulls trap .. current future dow, us bond, gold, support the all yen cross pairs move to the down side.
  • #89,985
  • Jun 6, 2008 7:53am Jun 6, 2008 7:53am
Quoting shahroodi
bear trap or bull trap??http://qsmile.com/qsimages/73.gif http://qsmile.com/qsimages/73.gif
LOOL
Unemployment rate worst in last 20Y ???
-49000 for May..

"The economy has now lost 324,000 jobs over the last five months, and May was the first time since June 2003 that the economy lost jobs for five straight months.


HUH, I am no LONGING (anyway I am short all the time)

http://www.forexfactory.com/news.php?do=news&id=90454

gene, that is your answer.. reverse on 9june
  • #89,986
  • Jun 6, 2008 7:55am Jun 6, 2008 7:55am
of course there were that many buyers, it was not just former target and support, it was also stoploss anchor. they are ALL trapped, they just dont know yet . i'm still short.
  • #89,987
  • Jun 6, 2008 7:55am Jun 6, 2008 7:55am
Quoting mktjong
No bro .. it was a bulls trap .. current future dow, us bond, gold, support the all yen cross pairs move to the down side.
-----------
it's at the middle of the 4h channel
GJ1h
Attached Image
  • #89,988
  • Jun 6, 2008 7:56am Jun 6, 2008 7:56am

Prepared by: FX Solutions, LLC Saddle River Executive Centre, One Route 17 South, Suite 260, Saddle River, NJ 07458


FED GOV KROSZNER said at a speech in Boston said financial markets have
generally improved since the Spring but credit conditions remain tight
and a rebound in the housing market and repair of mortgage market will
take time. Corporate bond liquidity is faring better than nonagency MBS
he said.

6/6/2008 8:45:15 AM
  • #89,989
  • Jun 6, 2008 7:56am Jun 6, 2008 7:56am
wow this price looks familiar
  • #89,990
  • Jun 6, 2008 7:58am Jun 6, 2008 7:58am
Quoting Scrat
lilmoe, here's how i see it: the actual move on h4 started at 203.96 and looks like an impulse so far, so it should have 5 subwaves: - 1: 203.96 - 207.12 - 2: 207.12 - 204.51 - 3: 204.51 - to now? looks to me like it is already matured. - 4: now - 206.80 area (4 should not break 1... which by my calculations is at 206.80 area), so that's why we saw that strong rebound of the spike. - and 5: above 209.31 IF i see 206.80 broken, then this scenario doesn't stand anymore. but until then, i'm still bullish.

makes sense
  • #89,991
  • Jun 6, 2008 7:59am Jun 6, 2008 7:59am
1 hr chart, failed to close below TL
Attached Image (click to enlarge)
Click to Enlarge Name: jeff.gif Size: 13 KB
  • #89,992
  • Jun 6, 2008 8:00am Jun 6, 2008 8:00am
Yea, like I said, pretty decent pinbar.
NFP can have a decidely two way action, it's pretty likely it could even continue for a while.
  • #89,993
  • Jun 6, 2008 8:00am Jun 6, 2008 8:00am
Quoting frevd
of course there were that many buyers, it was not just former target and support, it was also stoploss anchor. they are ALL trapped, they just dont know yet . i'm still short.
i thought u ar close ur short ready
  • #89,994
  • Jun 6, 2008 8:01am Jun 6, 2008 8:01am
C'mon 204. I'm commited to my shorts already. I feel the bear's breath. Flusher lilmoe please.
  • #89,995
  • Jun 6, 2008 8:02am Jun 6, 2008 8:02am
EJ is bullish
AJ is bearish
GJ is confused.
Hmm.

This news doesn't change fact Yen was weak yesterday and still is today.
  • #89,996
  • Jun 6, 2008 8:04am Jun 6, 2008 8:04am
EJ is bullish but watch out! Euro is carzy!


Tim
http://www.learningsuccessinlife.com/
  • #89,997
  • Jun 6, 2008 8:05am Jun 6, 2008 8:05am
Quoting Ultraman
i thought u ar close ur short ready
i said that right after our little argument about reading brokers here on ff to check out if anything happens what of course didnt (even went on further).
no, i'm still in and didnt manage to take advantage of the spike down. this will now take a while i guess. i'll go for lunch, not too much to fear now.
  • #89,998
  • Jun 6, 2008 8:06am Jun 6, 2008 8:06am
Quoting Sheikh
C'mon 204. I'm commited to my shorts already. I feel the bear's breath. Flusher lilmoe please.
plz hands up ur hand who still in short..
bear will come to 206 very soon
it just playing ping pong with the bull
rite now bear 19 - bull 5
  • #89,999
  • Jun 6, 2008 8:08am Jun 6, 2008 8:08am
Quoting mktjong
No bro .. it was a bulls trap .. current future dow, us bond, gold, support the all yen cross pairs move to the down side.
It's neither a bear nor bull trap, it's price action, today GBP/JPY had 2 key levels, one was 207.60 and the other was 206.60, 207.60 level was easily broken and prices kept above this level even before the release of the NFP report by 1 min, so I placed a sell order @ 208 aiming 206.90 and accordingly a reverse order with SL @ the 206.60 level, then the report was out, so prices went down to try the other level 206.60, which was not touched since yesterday, this gave me an indication that prices won't break it or even touch it, for me it was very clear that this will be the scenario that will happen after the NFP, but I was shivering to do it on my live account, so I prefered playing it on my demo account
  • #90,000
  • Jun 6, 2008 8:08am Jun 6, 2008 8:08am
My position is Bear, but I am not happy with what I am seeing. And like the above poster, I did not take advantage of the spike.
Que
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