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

  • #93,561
  • Jun 13, 2008 3:42pm Jun 13, 2008 3:42pm
Quoting ovaforty
TY for explaining that. I was wondering why you were holding a short position and not crying from the pain of the swap.
Discipline + Patience - Fear - Greed = Success
  • #93,562
  • Jun 13, 2008 3:44pm Jun 13, 2008 3:44pm
Weekly Geppy shows a close above resistance of that green 250 sma. Bullish candle. Bullish moms all pointing up in agreement and above 100. Zigzag indicator shows 4th corrective up from 192. Wave 5 will take her down whenever that comes. She penetrated the 50 fib and first upside target is the 38 fib at 212.75, then possibly the red 200 sma at 213.50 area, before meeting strong resistance. She will meet resistance along the way and we can expect choppy trading ahead.

Risk aversion will cancel this view.
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  • #93,563
  • Jun 13, 2008 3:53pm Jun 13, 2008 3:53pm
As of this moment bulls are in control of geppy until bears make their counter attack.
  • #93,564
  • Jun 13, 2008 3:55pm Jun 13, 2008 3:55pm
If the monthly candles remain about same size for EU fall and UJ climb, and if EU was 1.5 and UJ was 120, then EJ 180. It also fits into last 3 candles of EJ.
  • #93,565
  • Jun 13, 2008 3:58pm Jun 13, 2008 3:58pm
Quoting lilmoe
i'm not sure if my statement is right, but i really don't think that closing on a low or a high is that big of the deal. the movement will take either way. we DID close at a high back in may 30th, only to find a 150 gap downwards. we are having the same price action now (only there wasn't a range), and the price set new highs the last hour of trading, just like now.

so don't worry big guy. u do have a chance

good night

no it's not going to close on a high, and no FE 100 was not taken out

price went down 40 pips in 5 mins
  • #93,566
  • Jun 13, 2008 4:01pm Jun 13, 2008 4:01pm
Quoting lilmoe
no it's not going to close on a high, and no FE 100 was not taken out

price went down 40 pips in 5 mins

now it's back up 40 pips


who woke her up?

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  • #93,567
  • Jun 13, 2008 4:04pm Jun 13, 2008 4:04pm
Next week preview photo
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  • #93,568
  • Jun 13, 2008 4:04pm Jun 13, 2008 4:04pm
Quoting lilmoe
now it's back up 40 pips


who woke her up?

Attachment

ok, this time i'm really done. bye bye
  • #93,569
  • Jun 13, 2008 4:05pm Jun 13, 2008 4:05pm
Geppy monthly tells a bit different story. As of this post we see 3 bull candles in a row, although the current candle is not complete. Moms are diverging and point in different directions, indicating a possible loss of steam. Current price is barely above the 5 sma high, and approaching the brown 55 sma. the top most green sma is the 22 sma and it is showing signs of rolling over. However the 5 sma high and are showing a possible cross up. the weekly chart 5 sma high/low has already crossed up. That brown 55 sma is sitting at 211.38.

At this point it is a correction to the downtrend, and not a reversal of trend. That may or may not change.
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  • #93,570
  • Jun 13, 2008 4:08pm Jun 13, 2008 4:08pm
Quoting Clouds
If the monthly candles remain about same size for EU fall and UJ climb, and if EU was 1.5 and UJ was 120, then EJ 180. It also fits into last 3 candles of EJ.
Sounds reasonable. What is the all time high for EJ?
  • #93,571
  • Jun 13, 2008 4:10pm Jun 13, 2008 4:10pm
Quoting ovaforty
Sounds reasonable. What is the all time high for EJ?
169, other highs were 167.75, and 166.75, we at 167 high now
  • #93,572
  • Jun 13, 2008 4:12pm Jun 13, 2008 4:12pm
I just did another of my silly trades in my high risk account....

Short geppy 210.77 stop 211.10 target 209.......

I did this based on the similarities to the price action two weeks ago.....

low risk high reward....

Have a great weekend guys.......and as usual......don't forget to party!!!!.....
Attached Image
Patience + Discipline - Greed = Success
  • #93,573
  • Jun 13, 2008 4:14pm Jun 13, 2008 4:14pm
Quoting Clouds
169, other highs were 167.75, and 166.75, we at 167 high now
If EU goes to 1.70 and UJ to 125, then EJ 212. It's possible... All-time high of GJ 600.
  • #93,574
  • Jun 13, 2008 4:17pm Jun 13, 2008 4:17pm
Quoting Infinity
I just did another of my silly trades in my high risk account....

Short geppy 210.77 stop 211.10 target 209.......

I did this based on the similarities to the price action two weeks ago.....

low risk high reward....

Have a great weekend guys.......and as usual......don't forget to party!!!!.....
good luck on your trade.

I am buying above 211 and selling below 209 for now. I have limit orders stradding geppy's range.
  • #93,575
  • Jun 13, 2008 4:22pm Jun 13, 2008 4:22pm
Quoting ovaforty
good luck on your trade.

I am buying above 211 and selling below 209 for now. I have limit orders stradding geppy's range.
Thanks.....it is a very small position as this is more of a "casinoesque" trade thus the tight stop.....I know we may have a gap either way..but I have a gut feeling we will have a gap down on gu, geppy and possibly uj too..
I don't stand to lose much if I am wrong so let's see what happens Sunday....



Bless
Patience + Discipline - Greed = Success
  • #93,576
  • Jun 13, 2008 4:25pm Jun 13, 2008 4:25pm
Quoting Infinity
Thanks.....it is a very small position as this is more of a "casinoesque" trade thus the tight stop.....I know we may have a gap either way..but I have a gut feeling we will have a gap down on gu, geppy and possibly uj too..
I don't stand to lose much if I am wrong so let's see what happens Sunday....



Bless
I was kinda surprised to see no profit taking ahead of the weekend. Monday will be interesting.
  • #93,577
  • Jun 13, 2008 4:30pm Jun 13, 2008 4:30pm
I did a study 2 years ago and found an interesting pattern. I noticed trend changes for eur/usd occurred around certain holidays. easter and memorial day she lost her upward bias. Summertime range trade was prevalent then after labor day she changed until thanksgiving. after new years she changed again. For what that's worth.
  • #93,578
  • Jun 13, 2008 4:36pm Jun 13, 2008 4:36pm
The 2 hour shows that the correct entry for the GJ is to buy on the dips.

Until the 50 sma on the 2 hour is broken GJ is in a strong up trend with upper targets 213 and higher.

Just need some patience for GJ to play out.

Once she gets above 210.8 she will move up to 212.8 with ease.

Now , depending on what happens in G8 meeting ( oil will be a great conversation item and the weak USD) may have some kind of gap on Sunday

I am seeing potential gap up in usdchf and gap down in eurusd if they talk about the weak USD and wanting to make it stronger. Both of these pairs are on trend lines right nowo n the 4 hour charts

Have a great weekend all

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Blogging daily now at www.volume.zone
  • #93,579
  • Jun 13, 2008 4:39pm Jun 13, 2008 4:39pm
Quoting malcolmb14
The 2 hour shows that the correct entry for the GJ is to buy on the dips.

Until the 50 sma on the 2 hour is broken GJ is in a strong up trend with upper targets 213 and higher.

Just need some patience for GJ to play out.

Once she gets above 210.8 she will move up to 212.8 with ease.

Now , depending on what happens in G8 meeting ( oil will be a great conversation item and the weak USD) may have some kind of gap on Sunday

I am seeing potential gap up in usdchf and gap down in eurusd if they talk about the weak USD and wanting to make it stronger. Both of these pairs are on trend lines right nowo n the 4 hour charts

Have a great weekend all

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I concur.
  • #93,580
  • Jun 13, 2008 4:44pm Jun 13, 2008 4:44pm
hello all, i'm back i had great small weekly vacation, but non good week for UJ -54
and i have 4 opened lots @ 108.09 108.09 108.10 108.13 now 1 target 107.31
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