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

  • #106,141
  • Aug 7, 2008 10:26pm Aug 7, 2008 10:26pm
hello? anyone here?
Nihil Sine Deo.
  • #106,142
  • Aug 7, 2008 10:28pm Aug 7, 2008 10:28pm
Slippery slope. Not doubting a long is possible, actually I'm favoring it, but still I wouldn't be shocked if it broke.

Quoting Scrat
my point of view: daily trend line is tested again. classical approach: long with a stop below last minimum (210.50); if trade is stopped, then short with target @ 38.2, 50, 61.8 fibos...
  • #106,143
  • Aug 7, 2008 10:36pm Aug 7, 2008 10:36pm
Quoting Donadoney
Slippery slope. Not doubting a long is possible, actually I'm favoring it, but still I wouldn't be shocked if it broke.
Agreed still has plenty of room to go down.

Bounces are lethargic.
  • #106,144
  • Aug 7, 2008 10:39pm Aug 7, 2008 10:39pm
Quoting Scrat
hello? anyone here?

Still here and still short
  • #106,145
  • Aug 7, 2008 10:39pm Aug 7, 2008 10:39pm
what happened while I was napping ...

came back to find gj trade filled , and limit taken out ... nice little 100 pis

my gbpaud trade +200 pips

and my eurjpy short +90 more pips

all while napping ...

did the sky fall in ?
Blogging daily now at www.volume.zone
  • #106,146
  • Aug 7, 2008 10:43pm Aug 7, 2008 10:43pm
The GBP is tanking. Why and at this hour? Broke the big resistance at 212.25, will it go lower or bounce? Thoughts???? I am thinking at least somewhat lower to 211 or 210.50, then who knows. Weird week and a really strange day
  • #106,147
  • Aug 7, 2008 10:50pm Aug 7, 2008 10:50pm
Possible 1 hour pin bar off the trendline
  • #106,148
  • Aug 7, 2008 10:53pm Aug 7, 2008 10:53pm
Quoting PipAV8tor
The GBP is tanking. Why and at this hour? Broke the big resistance at 212.25, will it go lower or bounce? Thoughts???? I am thinking at least somewhat lower to 211 or 210.50, then who knows. Weird week and a really strange day
I agree with you guys... I am a strictly fib trader and I haven't seen price data this unnatural for over two years. 211.60 should have been absolute support but it was broken quite strongly, not once but twice now. I've heard a lot of talk about the devaluation of several currencies as of late, and I believe that is what we are seeing; this is all artificial, unnatural movement. She wants to go to 215.52.....I'm wondering when she'll finally rocket.
  • #106,149
  • Aug 7, 2008 10:55pm Aug 7, 2008 10:55pm
Quoting Scrat
my point of view: daily trend line is tested again. classical approach: long with a stop below last minimum (210.50); if trade is stopped, then short with target @ 38.2, 50, 61.8 fibos...
yes you are right I can see that but I think it is better to be cautious. Since qqe is crossing 50 line down, it may be different this time ... JMO
Discipline + Patience - Fear - Greed = Success
  • #106,150
  • Aug 7, 2008 11:01pm Aug 7, 2008 11:01pm
Quoting Scotty B
I agree with you guys... I am a strictly fib trader and I haven't seen price data this unnatural for over two years. 211.60 should have been absolute support but it was broken quite strongly, not once but twice now. I've heard a lot of talk about the devaluation of several currencies as of late, and I believe that is what we are seeing; this is all artificial, unnatural movement. She wants to go to 215.52.....I'm wondering when she'll finally rocket.
Well the hourly did close back above the 211.60...
Price does what price wants , I just need to be prepared.
  • #106,151
  • Aug 7, 2008 11:03pm Aug 7, 2008 11:03pm
Quoting Que
213.12 = 23.6% Ret of the upmove
213.07 = Weekly Pivot
212.89 = Daily Pivot
212.85 = H4 EMA 62
212.80 = H1 EMA365
212.75 = H1 EMA150
212.63 = 38.2% Ret of upmove
212.51 = H1 EMA62
212.46 = Monthly Pivot
212.41 = H4 EMA150
212.24 = 50.0% Ret of the upmove
211.85 = 61.8% Ret of the upmove


Lots of resistance zones going down that I can see. Yet somehow I am aiming for 212.00.... Hmmm maybe I like pain.

Yeay me, hit my target again...
Que
  • #106,152
  • Aug 7, 2008 11:04pm Aug 7, 2008 11:04pm
Quoting Scotty B
I agree with you guys... I am a strictly fib trader and I haven't seen price data this unnatural for over two years. 211.60 should have been absolute support but it was broken quite strongly, not once but twice now. I've heard a lot of talk about the devaluation of several currencies as of late, and I believe that is what we are seeing; this is all artificial, unnatural movement. She wants to go to 215.52.....I'm wondering when she'll finally rocket.
Curious day. Technicals saying up, for the most part, but a very strong dollar and the JPY with it, even though the market was down and news was pretty much neutral to negative. Maybe some of the behind the scenes intervention that we only find out about after the fact? I am gonna take my 80 pips and watch and see. Profit is good and this action makes me VERY nervous....
  • #106,153
  • Aug 7, 2008 11:09pm Aug 7, 2008 11:09pm
When I look at GU on weekly chart I see some scary things. GU may continue to head down for the next month or so ... while this pair has broken a major support (1.9340 - 50) a %76.4 retrace (1.8030 ) is highly possible.

With stochastic just starting to cross 80 level having plenty of room to go down and QQE just starting to cross 50 line I think this is going to happen.
Attached Image (click to enlarge)
Click to Enlarge Name: gu week.gif Size: 41 KB
Discipline + Patience - Fear - Greed = Success
  • #106,154
  • Aug 7, 2008 11:11pm Aug 7, 2008 11:11pm
The chart doesn't lie and patience pays off

I'm loving it!
Trade what you see, not what you think.
  • #106,155
  • Aug 7, 2008 11:13pm Aug 7, 2008 11:13pm
Quoting karmostaji
The chart doesn't lie and patience pays off

I'm loving it!
great I have been waiting all week for the right setup whats your targets?
  • #106,156
  • Aug 7, 2008 11:16pm Aug 7, 2008 11:16pm
Quoting karmostaji
The chart doesn't lie and patience pays off

I'm loving it!

Karmo which is you tp in GBP/JPY

Thanks
  • #106,157
  • Aug 7, 2008 11:16pm Aug 7, 2008 11:16pm
Quoting Patrick.
great I have been waiting all week for the right setup whats your targets?
1st 210.50
2nd 209
3rd down below..
Trade what you see, not what you think.
  • #106,158
  • Aug 7, 2008 11:18pm Aug 7, 2008 11:18pm
Quoting auslanco
Index had approached the 200EMA. I'm expecting a correction starting from next week on USD Pairs.
Dear auslanco since $index has breached 200 EMA I think it is heading up to 365 EMA first (76.75) before turning back down.
Discipline + Patience - Fear - Greed = Success
  • #106,159
  • Edited 11:35pm Aug 7, 2008 11:30pm | Edited 11:35pm
Quoting karmostaji
1st 210.50
2nd 209
3rd down below..
if you have the time can you post charts I am assuming those are Fib levels
I checked are you looking at weekly fib levels as targets?
  • #106,160
  • Aug 7, 2008 11:31pm Aug 7, 2008 11:31pm
hey guys,
I think it was last low by GBP (1.9275), its a good chance to take a long position,
please share your ideas and analysis,
Regards
Dia
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