204.25 or so has been VERY strong res. and support for a LONG time (at least Jan 0f '08). It must break that to move down and it can very easily bounce up to 205.XX, which it has done many times. Never count your chickens or pips... IMHO
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #107,582
- Aug 18, 2008 6:54pm Aug 18, 2008 6:54pm
- | Joined Aug 2006 | Status: Terrapin Pipper | 1,186 Posts
Lil' Moe...
Y E A H Baby,
A "Hog Callin" we will go!
Still Short...
-C R A P P E R TYM Baby!
Y E A H Baby,
A "Hog Callin" we will go!
Still Short...
-C R A P P E R TYM Baby!
I will work to Objectively Identify my Edges
- #107,585
- Aug 18, 2008 7:16pm Aug 18, 2008 7:16pm
Very strange happenings a foot. NOTHING has been linked to the market recently. Usually the Euro or the Yen or the Swissy will follow. One of them has done so lately, but today, US market down 200 pts and the USD is strong? Just seems peculiar. I don't have alot of inside info, I just trade what my chart tells me, but this one of the times that has me watching because even technicals can't work if there is behind the scenes stuff going on.
Have to see what happens come London.
I will definitely lock in profits before US session.
Typically a circus anyway....
Thanks for the heads up on this 204.25 level.
Definitely keeping close eye on !
- #107,586
- Aug 18, 2008 7:24pm Aug 18, 2008 7:24pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #107,587
- Aug 18, 2008 7:31pm Aug 18, 2008 7:31pm
I had the same opinion today. But I think this USD strength is flight to quality for now.
Have to see what happens come London.
I will definitely lock in profits before US session.
Typically a circus anyway....
Thanks for the heads up on this 204.25 level.
Definitely keeping close eye on !
- #107,588
- Aug 18, 2008 7:44pm Aug 18, 2008 7:44pm
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
- #107,589
- Aug 18, 2008 8:21pm Aug 18, 2008 8:21pm
Geppy remains heavish but holds above 204.00 in Asian Market. The rebound from the bottomish low of 202.48 hit on Aug 13 cannot return to the start line of the quick decline on Aug 13 high at 207.25, and an immediate firmness at 204.00-203.50 would be important to prevent weakness back to the low. The 21D-MA (211.00, down) is breaching the 200D-MA (211.17, down) downside today. The market is beginning to price in BOE's rate cut, and the Gbp would keep receiving pressures till the market fully prices in rate cut. Bias downside!
Just an info and not a reco!
Just an info and not a reco!
Geppy remains heavish but holds above 204.00 in Asian Market. The rebound from the bottomish low of 202.48 hit on Aug 13 cannot return to the start line of the quick decline on Aug 13 high at 207.25, and an immediate firmness at 204.00-203.50 would be important to prevent weakness back to the low. The 21D-MA (211.00, down) is breaching the 200D-MA (211.17, down) downside today. The market is beginning to price in BOE's rate cut, and the Gbp would keep receiving pressures till the market fully prices in rate cut. Bias downside!
Just an info and not a reco!
- #107,591
- Aug 18, 2008 8:42pm Aug 18, 2008 8:42pm
Geppy remains heavish but holds above 204.00 in Asian Market. The rebound from the bottomish low of 202.48 hit on Aug 13 cannot return to the start line of the quick decline on Aug 13 high at 207.25, and an immediate firmness at 204.00-203.50 would be important to prevent weakness back to the low. The 21D-MA (211.00, down) is breaching the 200D-MA (211.17, down) downside today. The market is beginning to price in BOE's rate cut, and the Gbp would keep receiving pressures till the market fully prices in rate cut. Bias downside!
Just an info and not a reco!
Forget about being in reality for a second about your impacting the market (ooh look I made a single move on 31st July and it magically materialised in a move 14 days later even though this completely contradicts the nature of order flow and price movement), at least give credit where its due or at the very least dont treat the rest of us like complete idiots by posting whats obviously a feed with two words tacked on at the end, as your own.
Lemming Forex! The Way to Trade....
- #107,593
- Aug 18, 2008 8:50pm Aug 18, 2008 8:50pm
So not only are you laughably still trying to convince the impressionable that you are a market mover, but now you are stealing others' trade analysis and passing it off as your own??? You think you are the only one with an IGM newsfeed?
Forget about being in reality for a second about your impacting the market (ooh look I made a single move on 31st July and it magically materialised in a move 14 days later even though this completely contradicts the nature of order flow and price movement), at least give credit where its due or at the very least dont treat the rest of us like complete idiots by doing so.
Well M just sharing their view here bec we're one of their subscribers, to help the members of FF and for the record I don't use the word idiots in any member in this forum because I just wanna help them to trade profitably! Now its the time to do your part share your info or analysis w/c is beneficial to our brothers and sisters here in FF!
- #107,594
- Aug 18, 2008 8:54pm Aug 18, 2008 8:54pm
Technical analysis from news feed:
RES 3: 209.60** :Aug 11 low
RES 2: 207.95** :Jul 16 low
RES 1: 206.50** :Aug 15 high
SUP 1: 204.35** :Aug 15 low
SUP 2: 203.40** :Aug 14 low
SUP 3: 202.50** :Congestion
(GBP/JPY) Looks to hold above 204.30/202.50, but conviction weak. Below this support zone will threaten 199.75 and break here will imply return to 192.55. Back above 205.85 renews for 206.50 then toward 208.00. That said, 208.00 now seen as tough to reclaim ahead of 209.60.
Nice post bpatto keep it up!
- #107,595
- Aug 18, 2008 8:55pm Aug 18, 2008 8:55pm
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
Well M just sharing their view here bec we're one of their subscribers, to help the members of FF and for the record I don't use the word idiots in any member in this forum because I just wanna help them to trade profitably! Now its the time to do your part share your info or analysis w/c is beneficial to our brothers and sisters here in FF!
. Don't care which cross you use as long as the jpy appreciates.On another note, now that the BOJ's come out with expected 0.5% IR announcement, have the BOJ govenor's need to do anything other than to just sit there and look pretty for the last year or so whilst earning 8-9 figure salaries?
- #107,596
- Aug 18, 2008 9:05pm Aug 18, 2008 9:05pm
Well M just sharing their view here bec we're one of their subscribers, to help the members of FF and for the record I don't use the word idiots in any member in this forum because I just wanna help them to trade profitably! Now its the time to do your part share your info or analysis w/c is beneficial to our brothers and sisters here in FF!
I dont think that anyone has or can possibly have a problem with sharing information for the mutual benefit of traders in the forum. What I specifically had a problem with was not giving credit to sources where it was due and ostensibly appearing to inflate your status through the post in question.
As for my analysis/bias, the charts are fairly clear and I think it has all been said here already, but to summarise; technically QQE on multiple timeframes is currently bearish, trading below GANN and this is supported by clear DMI superiority. Levels of support to watch out for are 204.20 and 202.60. Possible reversal of bias if 205.80 levels reached again in todays London session. Fundamentally August looks like repeating itself if you know what i mean.
In any case if anyone was interested (read nobody since everyone who trades properly is not blindly following others) my bias and trading is provided in my own journal and is not cluttering a forum designed to discuss GJ tech analysis.
Lemming Forex! The Way to Trade....
- #107,597
- Aug 18, 2008 9:14pm Aug 18, 2008 9:14pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Geppy remains heavish but holds above 204.00 in Asian Market. The rebound from the bottomish low of 202.48 hit on Aug 13 cannot return to the start line of the quick decline on Aug 13 high at 207.25, and an immediate firmness at 204.00-203.50 would be important to prevent weakness back to the low. The 21D-MA (211.00, down) is breaching the 200D-MA (211.17, down) downside today. The market is beginning to price in BOE's rate cut, and the Gbp would keep receiving pressures till the market fully prices in rate cut. Bias downside!
Just an info and not a reco!
I thought you only buy never sell .. how come this time becomes a "reco" not an "info"
- #107,599
- Aug 18, 2008 9:22pm Aug 18, 2008 9:22pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #107,600
- Aug 18, 2008 9:34pm Aug 18, 2008 9:34pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success