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

  • #105,601
  • Aug 5, 2008 11:00am Aug 5, 2008 11:00am
Quoting lilmoe
cable should be a really good buy right now.... i'm still waiting on an m30 gann (input 12) cross.

TL, 78.6 fibo, CCI oversold

Attached Image (click to enlarge)
Click to Enlarge Name: cable_daily.gif Size: 21 KB
  • #105,602
  • Aug 5, 2008 11:08am Aug 5, 2008 11:08am
Quoting malcolmb14
buy when it is going up .. sell when it is coming down ....

sounds like good technique ...lol

whatever technique you use on 60 min time frame can be used on 5 min time frame to scalp . I remeber once someone in this forum said that scalpers who could apply the same technique to longer time frames would make loads of pips

But if you are a good scalper and you can constantly make 30 - 50 pips a day you will in the long run do better than the swing trader due to compounding
True
  • #105,603
  • Aug 5, 2008 11:08am Aug 5, 2008 11:08am
FOMC should be a good opportunity to see it fall to at least the monthly pivot around 211.00 or better to the lows of the day, perhaps to a daily trendline around 210.20. Hopefully there's a rally to 212 (test of upper TL), I will be selling it!

Good Luck Everyone
  • #105,604
  • Aug 5, 2008 11:09am Aug 5, 2008 11:09am
Quoting arezab
Look at the UJ H4 chart. I see a double top right at 108.30 which has been a very tough res since 7 weeks ago. Also GU is more likely to continue it's journey south to 1.93.50 - 70 before any sign of trend reversal occurs.

I think that double top on UJ is significant and shows that UJ is going to start it's major rally south soon at least down to 105.50 which is %61.8 fib retrace of this last bull run from 103.75 up to 108.30 area. So you know what such a drop can do to GJ

If we consider the weakening GU and it's cooperation with UJ, I think a massive fall with GJ is on the way.

Additionally looking at GJ weekly chart we can clearly see that price has already reached a critical trend line and the movement patten confirms that bears are in control now.

Considering all of this I think we are going to see 200 area soon in coming weeks.

OH MY!
  • #105,605
  • Aug 5, 2008 11:17am Aug 5, 2008 11:17am
Looks like a lot more pain ahead for Cable and EUR, a lot of weakness there

I dont trade EUR but am short Cable since the top of the range and am bias towards bearish breakdown there
  • #105,606
  • Aug 5, 2008 11:19am Aug 5, 2008 11:19am
Quoting hyper-fx
FOMC should be a good opportunity to see it fall to at least the monthly pivot around 211.00 or better to the lows of the day, perhaps to a daily trendline around 210.20. Hopefully there's a rally to 212 (test of upper TL), I will be selling it!

Good Luck Everyone
In days like this i wouldnt expect very "technical" price action, there might not be second chances, so to say ;-)
  • #105,607
  • Aug 5, 2008 11:20am Aug 5, 2008 11:20am
Quoting lilmoe
TL, 78.6 fibo, CCI oversold

Attachment
hey lilmoe, don't you think we will have a %100 fib retrace before up?

I agree with you that cci is OS but cci can stay under -100 level for a long time.

Because of the way GU is moving down so seroiusly right now and as I don't see any bounce or divergence yet in highr TF's, I believe we will see 1.9350 - 70 area before GU resumes it's uptrend again.

This will push GJ down to 209 levels or so and I think if UJ contributes they will push it to lower levels.

Right now I'm waiting for Fed to see what they will do to this ...
Discipline + Patience - Fear - Greed = Success
  • #105,608
  • Aug 5, 2008 11:26am Aug 5, 2008 11:26am
Quoting quecee5
OH MY!
I promise if my prediction goes wrong I'll quit trading Forex and open a barber shop
Discipline + Patience - Fear - Greed = Success
  • #105,609
  • Aug 5, 2008 11:27am Aug 5, 2008 11:27am
We are digging through the top in the wedge – short-term target around 213,00 – also my retrace area in 1H chart.
Attached Image (click to enlarge)
Click to Enlarge Name: wedge.JPG Size: 194 KB
Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
  • #105,610
  • Aug 5, 2008 11:44am Aug 5, 2008 11:44am
Quoting arezab
I promise if my prediction goes wrong I'll quit trading Forex and open a barber shop
i with u bro...
i hope u r right..
  • #105,611
  • Aug 5, 2008 11:46am Aug 5, 2008 11:46am
Quoting arezab
I promise if my prediction goes wrong I'll quit trading Forex and open a barber shop
HUH, if you are wrong, you''ll need money to open a Barber SHop

BTW, I am with you on Short...
  • #105,612
  • Aug 5, 2008 11:50am Aug 5, 2008 11:50am
GJ may be going to see new highs soon.
Attached Image
  • #105,613
  • Aug 5, 2008 11:59am Aug 5, 2008 11:59am
Quoting Piters
HUH, if you are wrong, you''ll need money to open a Barber SHop

BTW, I am with you on Short...
My broker offers a %30 stop out level. If I blow up my account the remnants of it will be enough to open that shop ... I hope so
Discipline + Patience - Fear - Greed = Success
  • #105,614
  • Aug 5, 2008 12:06pm Aug 5, 2008 12:06pm
Quoting arezab
My broker offers a %30 stop out level. If I blow up my account the remnants of it will be enough to open that shop ... I hope so
So... I'm just wondering... more of a theoretical question, but what would you call the barber shop?

For-Ex Cuts
Pound/Yen 4 Less Cuts ?

I am short as well.
  • #105,615
  • Aug 5, 2008 12:08pm Aug 5, 2008 12:08pm
Quoting Verto
So... I'm just wondering... more of a theoretical question, but what would you call the barber shop?

For-Ex Cuts
Pound/Yen 4 Less Cuts ?

I am short as well.
hmm how about:

X FX CUT (ex forex CUT)
  • #105,616
  • Aug 5, 2008 12:09pm Aug 5, 2008 12:09pm
Quoting arezab
I promise if my prediction goes wrong I'll quit trading Forex and open a barber shop
LOL!

GJ is waaaaaaaay OS right now and looks poised to challenge 212.40/213.30 area. Also looks like a double bottom on 4hr chart. . .

GU is waaaaaaaaay OS but still have room to move down on daily but if it starts to move up it could take GJ with it if a sell-off in UJ is contained if the news is not favorable.

EU also looks waaaaaaaay OS right now. . .
  • #105,617
  • Aug 5, 2008 12:11pm Aug 5, 2008 12:11pm
Quoting jckm
We are digging through the top in the wedge – short-term target around 213,00 – also my retrace area in 1H chart.
Good target bro. . . I'm seeing the same, 1hr chart looks bullish and 4hr is heading up with targets set at 212.40/213.30 area. . .
  • #105,618
  • Aug 5, 2008 12:17pm Aug 5, 2008 12:17pm
Quoting Verto
So... I'm just wondering... more of a theoretical question, but what would you call the barber shop?

For-Ex Cuts
Pound/Yen 4 Less Cuts ?

I am short as well.
Discipline + Patience - Fear - Greed = Success
  • #105,619
  • Aug 5, 2008 12:27pm Aug 5, 2008 12:27pm
Quoting quecee5
LOL!

GJ is waaaaaaaay OS right now and looks poised to challenge 212.40/213.30 area. Also looks like a double bottom on 4hr chart. . .

GU is waaaaaaaaay OS but still have room to move down on daily but if it starts to move up it could take GJ with it if a sell-off in UJ is contained if the news is not favorable.

EU also looks waaaaaaaay OS right now. . .
I accept that GU and EU are OS right now but not GJ. GJ has plenty of room to go down specially on daily chart.
Discipline + Patience - Fear - Greed = Success
  • #105,620
  • Aug 5, 2008 12:29pm Aug 5, 2008 12:29pm
Whats up Q.
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