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

  • #91,381
  • Jun 9, 2008 8:23pm Jun 9, 2008 8:23pm
another reason....

"CHINA: The People's Bank of China set the yuan's central parity rate at
a new record high 6.9199. The market was closed Monday for the Dragon
Boat Festival. On Friday, the yuan was set at a record high 6.9238 to
the dollar.

Provided by: Market News International

"

how many times do i read this? about every week...

n hmm gee wat sounds like yuan!! oh !! yen!! we're going to see record highs for the yen within 20 days as well
that is a fact, 100% guarunteed and confirmed
  • #91,382
  • Jun 9, 2008 8:24pm Jun 9, 2008 8:24pm
Quoting lilmoe
lots of people fall in the same trap mike.

that's how it's drawn me thinks...

Attachment
hmm...I think we need to have a trendline discussion in a thread somewhere. Yours could be a possibility, but then again so could mine. I wouldn't rule out either, but I've always drawn mine from the highest high. I'll get right on that thread or look for another already solid thread on the subject. Thanks for the thought provoker lilmoe.
I dream, therefore I become.
  • #91,383
  • Jun 9, 2008 8:26pm Jun 9, 2008 8:26pm
Quoting mike w
hmm...I think we need to have a trendline discussion in a thread somewhere. Yours could be a possibility, but then again so could mine. I wouldn't rule out either, but I've always drawn mine from the highest high. I'll get right on that thread or look for another already solid thread on the subject. Thanks for the thought provoker lilmoe.
I go with inner/outer T/Ls where inner is drawn along CONGESTION and outer is drawn along highs/lows.
Money & Pain Respect the market, protect your capital, be patient
  • #91,384
  • Jun 9, 2008 8:26pm Jun 9, 2008 8:26pm
Quoting Clouds
Bull flag, should break 126 , and soar
Attachment

that's a broadening top bro.
  • #91,385
  • Jun 9, 2008 8:30pm Jun 9, 2008 8:30pm
here is how today shud play out..

in 2 minutes weak AUD data = carry liquidation = yen up
in 4.5 hour, strong jpy data = yen up
2 hours later disasterous gbp data = carry liquidation = yen up
2 hours later, earthquake in britain...
ho ho ho get short now or ull miss the snake!!
  • #91,386
  • Jun 9, 2008 8:31pm Jun 9, 2008 8:31pm
Quoting mike w
hmm...I think we need to have a trendline discussion in a thread somewhere. Yours could be a possibility, but then again so could mine. I wouldn't rule out either, but I've always drawn mine from the highest high. I'll get right on that thread or look for another already solid thread on the subject. Thanks for the thought provoker lilmoe.

i'm feeling u've got a bit offended. none meant. sorry.

but here are other possibilities. yours is the only one showing a breakout, and it's the same trendline that was posted as chart of the week last week.

here's more.
Attached Image (click to enlarge)
Click to Enlarge Name: uj_daily.gif Size: 18 KB
  • #91,387
  • Jun 9, 2008 8:33pm Jun 9, 2008 8:33pm
Quoting RonPaul2008
here is how today shud play out..

in 2 minutes weak AUD data = carry liquidation = yen up
in 4.5 hour, strong jpy data = yen up
2 hours later disasterous gbp data = carry liquidation = yen up
2 hours later, earthquake in britain...
ho ho ho get short now or ull miss the snake!!
We have to watch out for the guys with the famous names in here....
Patience + Discipline - Greed = Success
  • #91,388
  • Jun 9, 2008 8:34pm Jun 9, 2008 8:34pm
Quoting lilmoe
news, news news...

read any book and it will tell u when a fake breakout occurs.

we've been thinking that GJ was in a channel....

the TRUE form of GJ with a FALSE breakout:

Attachment

we've been thinking that GJ was inside a daily bullish flag that started with a bottom at 192. the post i'm quoting shows something that we might have overlooked, and yet is very clear now.

check that out for me mike, plz tell me what u think.
  • #91,389
  • Jun 9, 2008 8:34pm Jun 9, 2008 8:34pm
Quoting Infinity
We have to watch out for the guys with the famous names in here....
I was just thinking the same thing.
  • #91,390
  • Jun 9, 2008 8:36pm Jun 9, 2008 8:36pm
i have discovered a new technique for identifying, with 100% accuracy the beginning of a reversal on the 1h charts

needless to say... get short now!!
  • #91,391
  • Jun 9, 2008 8:37pm Jun 9, 2008 8:37pm
I'm using just recent daily TL, but I see possible target 207
Attached Image
  • #91,392
  • Jun 9, 2008 8:37pm Jun 9, 2008 8:37pm
Quoting RonPaul2008
i have discovered a new technique for identifying, with 100% accuracy the beginning of a reversal on the 1h charts

needless to say... get short now!!
Care to share that 100% accurate reversal sign ?
  • #91,393
  • Jun 9, 2008 8:41pm Jun 9, 2008 8:41pm
I think we might see Continuation Bullish pattern at GC 15M.
  • #91,394
  • Jun 9, 2008 8:42pm Jun 9, 2008 8:42pm
Quoting Rustyyy
Care to share that 100% accurate reversal sign ?
well ive thought about releasing it but if many people used it i think it would destroy itself.. as it is so successful, people would start shorting earlier than necessary on seeing the GO and it just get too competitive
so sorry about that

but now im going to go to sleep feeling fine about my short positions and knowing that i shall have much pips when i wake up ) nn
  • #91,395
  • Jun 9, 2008 8:43pm Jun 9, 2008 8:43pm
A chart for you to ponder through your perceptual prejudices and private inclinations
Attached Image
Money & Pain Respect the market, protect your capital, be patient
  • #91,396
  • Jun 9, 2008 8:45pm Jun 9, 2008 8:45pm
Im long gbp/cad and short gbp/jpy, but im not so confident in my short, forget UJ, but the pound is really strong against all currencies, so we'll see , but I should be ok, ttyl
  • #91,397
  • Jun 9, 2008 8:48pm Jun 9, 2008 8:48pm
Quoting lilmoe
i'm feeling u've got a bit offended. none meant. sorry.

but here are other possibilities. yours is the only one showing a breakout, and it's the same trendline that was posted as chart of the week last week.

here's more.
Attachment
No Not at all bro! lol Believe me, if there is a chance for me to learn from someone something that I don't know or am confused on, then I am damn happy to learn it. I really am just interested in learning more and becoming a better trader. Thanks for the reply and notes on them too, it's much appreciated man!

Like Toyboy said, I've read in numerous books that some people take the congestion zone, while in other readings people take the outer extremes of price. I've always used the outer extreme as it is easier to read and IF a breakout would be happening, I would be limiting my risk, whereas if I had put it inthe congestion zone, I'd already be in a trade that could possibly fail.
I dream, therefore I become.
  • #91,398
  • Jun 9, 2008 8:50pm Jun 9, 2008 8:50pm
RonPaul, sorry to hijack your chart, but only way to show this... 2 questions.

1.) In that we just reached the 38% retrace of the total move down from '07 high, why is 50% retrace (or close to it) out of the question from a technical perspective? That's one way to see +109-110 w/o too much strain.

2.) If you look at the dotted pink lines I drew on your monthly chart, (sorry again!) are they not at least as valid as the red ones you drew? I'm actually a little unclear as to how you got them, as there's like 16-18 months of PA above that red line of yours, but no matter. I just don't know what to do with that much PA taken out of the equation...

Just my 1.618 pips worth.
Attached Image (click to enlarge)
Click to Enlarge Name: uj HIJACK.png Size: 174 KB
Attached Image
FUBAR...
  • #91,399
  • Jun 9, 2008 8:50pm Jun 9, 2008 8:50pm
Well it looks like the Japanese aren't buying into this smokescreen initiated by US talking heads.
Nikkei just went negative.
Though the G/Y has disconnected from equities so may be meaningless.
  • #91,400
  • Jun 9, 2008 8:50pm Jun 9, 2008 8:50pm
Quoting Infinity
We have to watch out for the guys with the famous names in here....
The guy surely did send a spine chilling message ..

But we have a divergence now. If you notice, divergence is also a very reliable volume indicator in Forex. The world may not agree with the move, so, can any company, broker, or hedge funds win against the world? hmm .. it may for a little while but ...
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