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

  • #102,641
  • Jul 21, 2008 10:00pm Jul 21, 2008 10:00pm
Looks like GU might keel over first, then GJ after
  • #102,642
  • Jul 21, 2008 10:03pm Jul 21, 2008 10:03pm
Quoting Piters
sorry, yeah 240.50/60
btw, you are in Syd ?
Yep Yep, so boring Asian session in the day, and missing out on the US session at night coz i have to get up the next day

BTW where are you?
  • #102,643
  • Jul 21, 2008 10:28pm Jul 21, 2008 10:28pm
I've been away for a couple of hours, looks like I didn't miss much. I'm cought up on all of your posts and I would just like to add my opinion on the direction of the G/J. It's a really tough call, you guys are all talking baerish which may be infulencing my opinion. I'd have to say that I am bullish, but I could be full of bull. I'm looking at the daily, 4 hour and 1 hour and just see a real battle that the bulls are going to win. It's all on support and fibo and a gut feeling. so that's it then I'd say up past 213.90 tonight and beyond tomorrow. but be careful this is not clear sailing yet.
  • #102,644
  • Jul 21, 2008 10:44pm Jul 21, 2008 10:44pm
Quoting PipLucky
I've been away for a couple of hours, looks like I didn't miss much. I'm cought up on all of your posts and I would just like to add my opinion on the direction of the G/J. It's a really tough call, you guys are all talking baerish which may be infulencing my opinion. I'd have to say that I am bullish, but I could be full of bull. I'm looking at the daily, 4 hour and 1 hour and just see a real battle that the bulls are going to win. It's all on support and fibo and a gut feeling. so that's it then I'd say up past 213.90 tonight and beyond tomorrow. but be careful this is not clear sailing yet.
Looking at PA over the last couple of hours - it appears that the bulls are winning this battle so far. . . Every sale was met with a buy under 213 which is strange esp. when the charts are screaming OB. . . Now the charts are signaling that a run to the upside may be forthcoming. . .

My shorts aren't looking to good right now and my confidence on this trade is beginning to dwindle at least until I see price trading back below 213. . . Tough day to be trading GJ in this ranging market. . .
  • #102,645
  • Jul 21, 2008 10:50pm Jul 21, 2008 10:50pm
Quoting quecee5
Looking at PA over the last couple of hours - it appears that the bulls are winning this battle so far. . . Every sale was met with a buy under 213 which is strange esp. when the charts are screaming OB. . . Now the charts are signaling that a run to the upside may be forthcoming. . .

My shorts aren't looking to good right now and my confidence on this trade is beginning to dwindle until I see price back below 213. . . Tough day to be trading GJ in this ranging market. . .
Have to agree but too early to through in the towel.
History is written by the victors.
  • #102,646
  • Jul 21, 2008 10:52pm Jul 21, 2008 10:52pm
Quoting Money-RX
Have to agree but too early to through in the towel.
Agreed - I'm going to see what London brings before I cut this trade short (no pun intended). . .
  • #102,647
  • Jul 21, 2008 10:55pm Jul 21, 2008 10:55pm
Quoting Money-RX
Have to agree but too early to through in the towel.
the gut part of my thinking is the two doji's that I see on my one hour chart, but I'm not long yet, I would like to be more sure.
  • #102,648
  • Jul 21, 2008 10:55pm Jul 21, 2008 10:55pm
Looks like 213.80 is a tuff resistance.. Price has broken out of the weekly channel, but looks like it will be sucked back in over the next few weeks..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 20 KB
  • #102,649
  • Jul 21, 2008 10:55pm Jul 21, 2008 10:55pm
Hate to tell you guys but I'm looking at a bull flag. It bounced off 50ema(support) and I'm seeing bullish divergence as well on 1hr. Definitely a breakout.
  • #102,650
  • Jul 21, 2008 11:00pm Jul 21, 2008 11:00pm
Time to buy! 1hr Gann HiLo is down!
  • #102,651
  • Jul 21, 2008 11:03pm Jul 21, 2008 11:03pm
this forum is really helping me see things, and you're helping me to think about the trade before pulling the triger, this is a big help, so thanks for being here.

Jeff
  • #102,652
  • Jul 21, 2008 11:05pm Jul 21, 2008 11:05pm
This is where it gets real tough. Short in a rising market and how far do you let it go before SL.
History is written by the victors.
  • #102,653
  • Jul 21, 2008 11:05pm Jul 21, 2008 11:05pm
Quoting DollaBill
Looks like 213.80 is a tuff resistance.. Price has broken out of the weekly channel, but looks like it will be sucked back in over the next few weeks..
Thanks for the chart. Hope you are right.
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  • #102,654
  • Jul 21, 2008 11:09pm Jul 21, 2008 11:09pm
aj still hasnt broken out of downward channel, ej still playing around between .60-.40. It's still unclear what's happening yet. The market is adjusting to the new prices, IMHO
  • #102,655
  • Jul 21, 2008 11:10pm Jul 21, 2008 11:10pm
For now i see consolidation. im on sidelines till 10/11am est.1luv[/quote]

Man, this is some crazy price action. i was just waiting for a 4hr close below gann to short d beast. but it never came. strong Bearish divergence on 4hr charts. My new 4hr MOM is still bearish. Longs are out of d question for me. any bull below 214 is a consolidation. For now only bears would bring dis out of consolidation. IMO. Quecce where are u short from?


Btw. whats karmos latest analysis. Karmo?
  • #102,656
  • Jul 21, 2008 11:11pm Jul 21, 2008 11:11pm
Quoting Vfforexlee
Time to buy! 1hr Gann HiLo is down!

Look it now and tell me what do you see?
  • #102,657
  • Jul 21, 2008 11:12pm Jul 21, 2008 11:12pm
Quoting ephisi
For now i see consolidation. im on sidelines till 10/11am est.1luv
Man, this is some crazy price action. i was just waiting for a 4hr close below gann to short d beast. but it never came. strong Bearish divergence on 4hr charts. My new 4hr MOM is still bearish. Longs are out of d question for me. any bull below 214 is a consolidation. For now only bears would bring dis out of consolidation. IMO. Quecce where are u short from?


Btw. whats karmos latest analysis. Karmo?[/quote]


waiting for candle lcose below 4hr gann and 1hr 50em, anything outside that is a no trade for me.
  • #102,658
  • Jul 21, 2008 11:14pm Jul 21, 2008 11:14pm
Quoting "expert"
Look it now and tell me what do you see?
If I have the wrong trade, i know what I did wrong. Beside, i put a sell stop below my stop loss to cover up my loss when this thing breaks.
  • #102,659
  • Jul 21, 2008 11:15pm Jul 21, 2008 11:15pm
Quoting "expert"
Look it now and tell me what do you see?
There is a filter i call confident canldle. There was no confident candle below the 1hr gann close that is why i didnt short.

Now there is no confident candle above 1hr gann. So no longs for me
  • #102,660
  • Jul 21, 2008 11:17pm Jul 21, 2008 11:17pm
Quoting ephisi
There is a filter i call confident canldle. There was no confident candle below the 1hr gann close that is why i didnt short.

Now there is no confident candle above 1hr gann. So no longs for me
May I ask what is a confident candle?
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