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

  • #98,221
  • Jul 1, 2008 9:52am Jul 1, 2008 9:52am
Quoting karmostaji
I posted this on 26th June and someone also made fun that it will be broken easily, but if anyone goes back and looks at the daily chart, you'll understand what that level means.

Keep it simple
Oh that sounds familiar! I think I was that someone, cause I love cookies! LOL

As soon as the market showed me signs of..indigestion for the 213.50s, I bailed out, posting it here..problem is many people where actually taking the other way at that exact time.. I do not trade on convictions, I just react

I still see more reasons to believe that 213.50 will be broken, and hard, to the upside. For example, those 209 levels that you had said seemed to be "rejected" again, when in fact it was just consolidation before it plowed right through them, now seem to be acting as support. So long as they hold, they add credence to the bulls who have their eyes on the 213s and beyond. If, of course, they are broken convincingly, then we look for other moves
  • #98,222
  • Jul 1, 2008 10:00am Jul 1, 2008 10:00am
Karmo, do you agree that 4hr Momentum look exhausted maybe a trip to 4hr GANN will resume the downtrend again maybe break 209.40 region and head to 209 as first stop?
  • #98,223
  • Jul 1, 2008 10:02am Jul 1, 2008 10:02am
my UJ long and euro shorts are looking really good

GJ's DP is one tough ass though. can't wait to see that cookie crumble
  • #98,224
  • Jul 1, 2008 10:02am Jul 1, 2008 10:02am
Its possible the 4 hr is just now starting into a long.
  • #98,225
  • Jul 1, 2008 10:04am Jul 1, 2008 10:04am
Quoting vinesh2
Karmo, do you agree that 4hr Momentum look exhausted maybe a trip to 4hr GANN will resume the downtrend again maybe break 209.40 region and head to 209 as first stop?
The 4h momentum looks exhausted? how do you figure that..
Trade what you see, not what you think.
  • #98,226
  • Jul 1, 2008 10:06am Jul 1, 2008 10:06am
Ok never mind now that I look at it its angled up so not exhausted I guess I am exhausted hahaha
  • #98,227
  • Jul 1, 2008 10:08am Jul 1, 2008 10:08am
Quoting vinesh2
Ok never mind now that I look at it its angled up so not exhausted I guess I am exhausted hahaha
Just started , will accelerate uptrend.
Anway, already booked 300 pips total still leaving GY LONG and EU shorts
  • #98,228
  • Jul 1, 2008 10:08am Jul 1, 2008 10:08am
Quoting lilmoe
my UJ long and euro shorts are looking really good

GJ's DP is one tough ass though. can't wait to see that cookie crumble

I hope my G.Y , e/y, u/chf, G/CHF longs will buy me a lot of luxury cookies

They are bloody expensive!

  • #98,229
  • Jul 1, 2008 10:08am Jul 1, 2008 10:08am
I dont see Yen going to sleep anytime soon and as long as deman remains carry goes up
"Millionaires don't use astrology, billionaires do"
  • #98,230
  • Jul 1, 2008 10:11am Jul 1, 2008 10:11am
Quoting pr0spero
I hope my G.Y , e/y, u/chf, G/CHF longs will buy me a lot of luxury cookies

They are bloody expensive!

Im looking for a target of 212.45 but the 1 hr 200 ema may be tough.
  • #98,231
  • Jul 1, 2008 10:17am Jul 1, 2008 10:17am
Quoting lilmoe
my UJ long and euro shorts are looking really good

GJ's DP is one tough ass though. can't wait to see that cookie crumble
15 min left for "LIGHT" to shine the way.
  • #98,232
  • Jul 1, 2008 10:21am Jul 1, 2008 10:21am
But 217 by Friday? I wonder if we can get past 214.50/60 by then.
GJ is not going to just run past that point as if it wasn't there.
More good USD news is coming no doubt but nothing is in the works that I see which will cause a 600 pip surge up by friday. I mean the head fed himself would have to come out and say he sold all his US dollars and traded them for YEN or something.

Quoting Austin168
yes and it is very conservative, my guess is that due to US holiday this week and given that some additional good news on US data, we can expect GY go aobve 217 figure by Friday.
  • #98,233
  • Jul 1, 2008 10:24am Jul 1, 2008 10:24am
Quoting rmrf
But 217 by Friday? I wonder if we can get past 214.50/60 by then.
GJ is not going to just run past that point as if it wasn't there.
More good USD news is coming no doubt but nothing is in the works that I see which will cause a 600 pip surge up by friday. I mean the head fed himself would have to come out and say he sold all his US dollars and traded them for YEN or something.
Don't forget that due to light volume on holiday, check history on price movement during major holiday (light volume)
  • #98,234
  • Jul 1, 2008 10:26am Jul 1, 2008 10:26am
looks like the price is getting rejected at dp.
  • #98,235
  • Jul 1, 2008 10:27am Jul 1, 2008 10:27am
Quoting PipChick
Im looking for a target of 212.45 but the 1 hr 200 ema may be tough.

i'm thinking 213.11 then 214.12
216 - 216.80 ultimately
  • #98,236
  • Jul 1, 2008 10:27am Jul 1, 2008 10:27am
Quoting MykeFX
Can you give more analysis on this pair? Its been ranging and now a break upward a bit... I am hoping for a big downward movement soon.
Sorry to be off topic...

mYKE sorry, I just saw your message now as I was browsing past posts to see my cookies post ;-)

You probably figured out why it was a swing long trade, just by looking at the charts, but here goes. I had three entries: 1. which got stopped out quickly, then 2. and 3. Position 2. closed about at the prior swing highs, and 3. I closed it on the last "spike" high

Posting the chart here even though it's not G/Y related, just as an example of a swing trade that had a good R/R..though don't know if swing trading is your thing (or the thing of many here..looks like scalping is more popular)

There are good books out if you wanna read out on swing trading

cheershttp://img383.imageshack.us/img383/7...auswingsy3.jpg
  • #98,237
  • Jul 1, 2008 10:27am Jul 1, 2008 10:27am
Quoting lilmoe
i'm thinking 213.11 then 214.12
216 - 216.80 ultimately
That sounds even better
  • #98,238
  • Jul 1, 2008 10:28am Jul 1, 2008 10:28am
Quoting pkimnyc
15 min left for "LIGHT" to shine the way.
wait for confirmation
if this candle closes as a doji, i'll wait for price to close above 1h 50ema.
  • #98,239
  • Jul 1, 2008 10:29am Jul 1, 2008 10:29am
The more things seem to change the more they really stay the same.
I don't see the unwind, and Yen demand is NOT likely to decrease.

Quoting OrionsWay
I dont see Yen going to sleep anytime soon and as long as deman remains carry goes up
  • #98,240
  • Jul 1, 2008 10:29am Jul 1, 2008 10:29am
Watch out for this downward sloping (thick blue) Andrews pitchfork energy point, price showed it some respect.
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