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

  • #99,081
  • Jul 3, 2008 1:15pm Jul 3, 2008 1:15pm
Quoting Clouds
My opinion is that it's just healthy up trend. It was over bought, needed buyers, and needed to re-visit the lower TL sometime, sooner or later it would have had too... AND Fundamentally speaking, Trichet signaled that it was the only rate increase for a while or something.
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as long as 1.45 holds, we would still be in an uptrend
  • #99,082
  • Jul 3, 2008 1:19pm Jul 3, 2008 1:19pm
Quoting hussin naiji
yes my friend agree with u
but you can say to me why EURUSD have fall today ?
It's really tough to figure out how the news will effect the markets right out of the gate. I've noticed that news, mainly the big reports have a tendancy to move the markets in a fundamental way over longer time frames. I will usually play the news by looking at the longer trend and then setting up buys or sells that take advantage of dips or peaks. For example, today I had two positions xecute after news. One at 1.58 and one at 1.57.
  • #99,083
  • Jul 3, 2008 1:21pm Jul 3, 2008 1:21pm
Quoting lilmoe
as long as 1.45 holds, we would still be in an uptrend
it will, but not so fast

first dow has to reach 10800-10500 territory, which is...you might guess...

the break of the yellow channel (okay its not a true channel) and the 161.8 extension of
the (not so true) channel.

also trendline matches there.
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  • #99,084
  • Jul 3, 2008 1:24pm Jul 3, 2008 1:24pm
Quoting lilmoe
as long as 1.45 holds, we would still be in an uptrend
Yeah, but I keep telling myself the last 4 years the EUR/USD was in an up trend, it's averaged 4 pips up a day, so have to take 1 week at a time. Though I agree 1.45 would not be unusual, even 1.35.
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  • #99,085
  • Jul 3, 2008 1:40pm Jul 3, 2008 1:40pm
Some hope for my EU long.
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  • #99,086
  • Jul 3, 2008 1:43pm Jul 3, 2008 1:43pm
Quoting Clouds
Yeah, but I keep telling myself the last 4 years the EUR/USD was in an up trend, it's averaged 4 pips up a day, so have to take 1 week at a time. Though I agree 1.45 would not be unusual, even 1.35.
Attachment
ok, lol, let's say that we do reach 1.45, what effect can this have on GJ? no idea here, lol, might be irrelevant.

according to FEs, this uptrend cycle should end, or at least reverse for a mid-period on the monthlies at 1.70xx. take a look at the areas marked in blue, those were 1200+ pip drops that DID NOT affect that uptrend that started since that euro was introduced in 1999-2000. so what's the problem of it going back to 1.4x area? no problem IMO. it is currently at FE 78.6, the level i always make a fuss about.

i'm no Elliot wave expert, but here's a stupid guess from a EW newbie..
1.7 by jan next year, and 2 dollars by 2013. according to fib timezones.

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  • #99,087
  • Jul 3, 2008 1:48pm Jul 3, 2008 1:48pm
Quoting lilmoe
ok, lol, let's say that we do reach 1.45, what effect can this have on GJ? no idea here, lol, might be irrelevant.

according to FEs, this uptrend cycle should end, or at least reverse for a mid-period on the monthlies at 1.70xx. take a look at the areas marked in blue, those were 1200+ pip drops that DID NOT affect that uptrend that started since that euro was introduced in 1999-2000. so what's the problem of it going back to 1.4x area? no problem IMO. it is currently at FE 78.6, the level i always make a fuss about.

i'm no Elliot wave expert, but here's a stupid guess from a EW newbie..
1.7 by jan next year, and 2 dollars by 2013. according to fib timezones.

Attachment
i added a fibo fan, with a level i keep for myself
just a tip for those who like fibo fans

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  • #99,088
  • Jul 3, 2008 1:48pm Jul 3, 2008 1:48pm
Lilmoe

Can you attach your FE please ?

Thanks for your comment in this thread !
  • #99,089
  • Jul 3, 2008 1:51pm Jul 3, 2008 1:51pm
Quoting lilmoe
ok, lol, let's say that we do reach 1.45, what effect can this have on GJ? no idea here, lol, might be irrelevant.

according to FEs, this uptrend cycle should end, or at least reverse for a mid-period on the monthlies at 1.70xx. take a look at the areas marked in blue, those were 1200+ pip drops that DID NOT affect that uptrend that started since that euro was introduced in 1999-2000. so what's the problem of it going back to 1.4x area? no problem IMO. it is currently at FE 78.6, the level i always make a fuss about.

i'm no Elliot wave expert, but here's a stupid guess from a EW newbie..
1.7 by jan next year, and 2 dollars by 2013. according to fib timezones.

Attachment
That could happen. But ALSO, just from looking at that chart, the down trend was in 2 waves. The up trend has had 2 waves, could we go down 2 waves below parity? Economies aside, and just charts, it seems possible. A book I read, someone that worked for BMW, that's hedging Euros for Dollars since 02' is going buy dollars in 09', and expects it to go back to fair value at 1.1. They do a LOT of fundamental data, and spend months making a decision based on many many years back. [edit] In the book I read about forex, the guy that worked for bmw is not a trader, but relies on making good decisions so that their company will survive.
  • #99,090
  • Jul 3, 2008 1:53pm Jul 3, 2008 1:53pm
Quoting lilmoe
ok, lol, let's say that we do reach 1.45, what effect can this have on GJ? no idea here, lol, might be irrelevant.

according to FEs, this uptrend cycle should end, or at least reverse for a mid-period on the monthlies at 1.70xx. take a look at the areas marked in blue, those were 1200+ pip drops that DID NOT affect that uptrend that started since that euro was introduced in 1999-2000. so what's the problem of it going back to 1.4x area? no problem IMO. it is currently at FE 78.6, the level i always make a fuss about.

i'm no Elliot wave expert, but here's a stupid guess from a EW newbie..
1.7 by jan next year, and 2 dollars by 2013. according to fib timezones.

Attachment
thats very interesting, i will have a back up of this chart and think over it tomorrow. Its late now here, so nighty.

Have a nic 4. july if you are US. Tomorrow might less volatility, but
maybe good pricemovements.
  • #99,091
  • Jul 3, 2008 1:55pm Jul 3, 2008 1:55pm
Quoting extremfx
Lilmoe

Can you attach your FE please ?

Thanks for your comment in this thread !
well, it's built in to MT4,

insert->fibonacci->expantion

PM if u need more help.
  • #99,092
  • Jul 3, 2008 1:56pm Jul 3, 2008 1:56pm
Quoting peaches
thats very interesting, i will have a back up of this chart and think over it tomorrow. Its late now here, so nighty.

Have a nic 4. july if you are US. Tomorrow might less volatility, but
maybe good pricemovements.
take care
  • #99,093
  • Jul 3, 2008 2:11pm Jul 3, 2008 2:11pm
new daily candle opened above 5sma, momentum pointing up on my platform. will wait 3 more hours for IBFX platform.
  • #99,094
  • Jul 3, 2008 2:29pm Jul 3, 2008 2:29pm
the usd index touched trendline resistance near 72.8 but closed lower 72.75
  • #99,095
  • Jul 3, 2008 2:29pm Jul 3, 2008 2:29pm
ok now, i'll give this thread a brake from my talkative ass. 12.30 am here. don't think there'll be lots of action. i'll be back after a 3 hour nap


see ya guys.
  • #99,096
  • Jul 3, 2008 2:31pm Jul 3, 2008 2:31pm
Quoting lilmoe
ok now, i'll give this thread a brake from my talkative ass. 12.30 am here. don't think there'll be lots of action. i'll be back after a 3 hour nap


see ya guys.
see ya... have a good 3 hour nap,
  • #99,097
  • Jul 3, 2008 3:01pm Jul 3, 2008 3:01pm
pretty quiet afternoon
"Millionaires don't use astrology, billionaires do"
  • #99,098
  • Jul 3, 2008 3:09pm Jul 3, 2008 3:09pm
Quoting OrionsWay
pretty quiet afternoon
Hi All,

How is it going? Hope you'll are doing fine.. My EU short worked out very good. By the way, is the market open from now till tomorrow (Friday)? I use FXDD and FXSolution brokers. Can anyone please update me a bit? Really appreciate it. Thank you very much.
  • #99,099
  • Jul 3, 2008 3:12pm Jul 3, 2008 3:12pm
I just had a chance to post now .. caught up with busy work :-)
  • #99,100
  • Jul 3, 2008 3:13pm Jul 3, 2008 3:13pm
Not sure ibfx closes tomorrow at 11am
"Millionaires don't use astrology, billionaires do"
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