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

  • #94,541
  • Jun 17, 2008 5:34am Jun 17, 2008 5:34am
i took proft on my short gbp/usd at the 1.95 area.
  • #94,542
  • Jun 17, 2008 5:35am Jun 17, 2008 5:35am
Channel
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  • #94,543
  • Jun 17, 2008 5:35am Jun 17, 2008 5:35am
Quoting gene22
First it was profit taking, now there is a systematic weak selling going on, if it manages to close below 210.60, we are looking for a quick move to 206.80-90, where it will stall, that would be it for this week if it manages that far, momentums are weak though, no risk aversion yet, let's see what happens
I agree on your points. . .
Looks to be a shake out of weak longs to clear the way for an attack on 213.50/214.60 area. . .
I'm looking to buy if the base holds (210.30/60). If not, I'll hold a small short for the ride down. . .
  • #94,544
  • Jun 17, 2008 5:39am Jun 17, 2008 5:39am
Quoting Clouds
Possible target
Attachment
204 ~ 205 may be....let see - Monthly 5sma
  • #94,545
  • Jun 17, 2008 5:39am Jun 17, 2008 5:39am
Quoting quecee5
I agree on your points. . .
Looks to be a shake out of weak longs to clear the way for an attack on 213.50/214.60 area. . .
I'm looking to buy if the base holds (210.30/60). If not, I'll hold a small short for the ride down. . .
I am standing aside for geppy but looking for a buy.
  • #94,546
  • Jun 17, 2008 5:42am Jun 17, 2008 5:42am
Quoting ovaforty
I am standing aside for geppy but looking for a buy.
Good approach, I still think it has further to go looking at the 1hr/4hr chart but have taken 2/3'rds profit on this move down. . . My 210.80/90 target is holding for the moment if I continue to see this move stall I'll close my position and sit aside. . .

Congrats bro, that 200 pip move was niccccccccccccccce =
  • #94,547
  • Jun 17, 2008 5:45am Jun 17, 2008 5:45am
i can see 206.8x, but i would say that if it manages a close below the trend line (208.20 for tomorrow... ) then the bias turns bearish.

Quoting gene22
First it was profit taking, now there is a systematic weak selling going on, if it manages to close below 210.60, we are looking for a quick move to 206.80-90, where it will stall, that would be it for this week if it manages that far, momentums are weak though, no risk aversion yet, let's see what happens
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Nihil Sine Deo.
  • #94,548
  • Jun 17, 2008 5:53am Jun 17, 2008 5:53am
Iran has withdrawn around $75 billion of its foreign assets from European banks. This withdrawal was ordered by Iranian President Mahmoud Ahmadinejad in order to protect those assets from European threats to impose new sanctions .

http://www.thetrumpet.com/index.php?q=5238.3526.0.0
  • #94,549
  • Jun 17, 2008 5:53am Jun 17, 2008 5:53am
Quoting quecee5
Don't see much reasoning for a huge drop, nothing driving it for a huge fall. . .

maybe this Q Vix
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"Millionaires don't use astrology, billionaires do"
  • #94,550
  • Jun 17, 2008 5:54am Jun 17, 2008 5:54am
Guys look at weekly 50 and 200 sma on GBPJPY.Lol
  • #94,551
  • Edited 6:13am Jun 17, 2008 5:58am | Edited 6:13am
i am watching to see if price respects this daily 22 sma. I do have a buy at the brown 55 sma waiting.

oops, that is the 4 hour chart 22 sma....my bad....
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  • #94,552
  • Jun 17, 2008 6:03am Jun 17, 2008 6:03am
I learned a long time ago that limit orders give a more precise entry. Indicators are lagging.
  • #94,553
  • Jun 17, 2008 6:05am Jun 17, 2008 6:05am
Even if we have seen the top on GJ, price must go back up to 212 area to make a lower high before falling.
  • #94,554
  • Jun 17, 2008 6:06am Jun 17, 2008 6:06am
lilmoe,

did you got stopped by that GU up move ? i think it was just a manipulation to eat SL
  • #94,555
  • Jun 17, 2008 6:07am Jun 17, 2008 6:07am
As long as geppy trades above this support, i will have a bullish bias, buying on dips when i see rejections.
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  • #94,556
  • Jun 17, 2008 6:08am Jun 17, 2008 6:08am
Quoting Srikanth
lilmoe,

did you got stopped by that GU up move ? i think it was just a manipulation to eat SL

yea....
  • #94,557
  • Jun 17, 2008 6:10am Jun 17, 2008 6:10am
Quoting lilmoe
yea....

exactly it went to that SL area and came down.. that was a scary move.. right now dollar gaining strength across all pairs..
  • #94,558
  • Jun 17, 2008 6:10am Jun 17, 2008 6:10am
Hourly chart shows the 100 sma has held so far, for what that is worth.
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  • #94,559
  • Jun 17, 2008 6:12am Jun 17, 2008 6:12am
a maybe chart of the wicked one

50% offset on the andrews fork
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"Millionaires don't use astrology, billionaires do"
  • #94,560
  • Jun 17, 2008 6:12am Jun 17, 2008 6:12am
true. at least 212.45, if not higher in the 213.70/214.10 area. but not now... there is more room to go down.
on the other hand, as i said, a daily close below 208.20 would mean a change towards bearish side.
we'll see.

Quoting good
Even if we have seen the top on GJ, price must go back up to 212 area to make a lower high before falling.
Nihil Sine Deo.
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