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

  • #109,761
  • Sep 2, 2008 8:06am Sep 2, 2008 8:06am
Quoting marcb
it will do stop huntng just around 194.80 and then go down to 192
As I wrote before longs are done now it is heading south
  • #109,762
  • Sep 2, 2008 8:16am Sep 2, 2008 8:16am
Charts don't lie....Oil is heading for 100 if the rigs are ok...

You be the judge..




Quoting marcb
As I wrote before longs are done now it is heading south
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  • #109,763
  • Sep 2, 2008 8:35am Sep 2, 2008 8:35am
hi rrram2, on the other thread i've read you only go long on gbpjpy now you go short?


thank you



Quoting rrram2
When many folks added to their longs at 199.00, we were tempted but didnt go for it.

And now I am tempted to get longs down low here where it is a good "value"
laugh!.

But I think even though she is clearly oversold, she is coming down some more.

My TP's on the shorts are still set at 189.00, but 187.50 wouldnt be too bad either as a final target.
Financial Freedom
  • #109,764
  • Sep 2, 2008 8:46am Sep 2, 2008 8:46am
Chart of the Day - 9/02/2008 - GBP/JPY
9/02/2008 – GBP/JPY – Price on the GBP/JPY daily chart, as shown, bounced precisely up off a significant long-term support level late on Monday. This level resides around 192.60, give or take a few pips. Back in July 2005, this pair reached a swing low of 192.60, and then reached down to 192.57 in March of this year. Just yesterday, price descended quickly and bounced accurately off the 192.61 level. The sheer precision of this support level has been remarkable. As of Tuesday morning, price has corrected substantially to the upside after retreating from support. Any continuation of this correction should hit additional resistance around the 196.80 region, a relatively significant prior support/resistance level. The 192.60 support level to the downside, as mentioned, should continue to act as strong support going forward.

James Chen
Chief Technical Analyst
FX Solutions

IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.

(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; downtrend line in red; horizontal support/resistance line in yellow; 200-period simple moving average in light blue.)














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  • #109,765
  • Sep 2, 2008 9:45am Sep 2, 2008 9:45am
Quoting karmostaji
There will be another big push down!
It's developing, just be patient
Trade what you see, not what you think.
  • #109,766
  • Sep 2, 2008 9:49am Sep 2, 2008 9:49am
Quoting karmostaji
It's developing, just be patient
I think it would still be another push-up first, if again fails then a big push down
  • #109,767
  • Sep 2, 2008 9:52am Sep 2, 2008 9:52am
Quoting uncletrumpet
Post it and let us see it, my ow seems to be different from yours
i also have a same exact number.
  • #109,768
  • Sep 2, 2008 9:58am Sep 2, 2008 9:58am
Quoting mktjong
I think it would still be another push-up first, if again fails then a big push down
Once 1H QQE crosses downwards and a candle closes below 1h gann hilo, this beast will take a big dive into hell lol
Trade what you see, not what you think.
  • #109,769
  • Sep 2, 2008 10:00am Sep 2, 2008 10:00am
Quoting rgitt05
Buy on the dips for better position...

Still a possible retracement to 38.2% 197.96...

Looks like tonite or tomorrow for this to happen...

You be the judge...
That would fill the gap, todays daily is currently forming into a pinbar, this could change before close, but if it doesn't and it confirms (breaks to the upside) then I think there's a strong possibility we'll go up and fill the gap.
Money & Pain Respect the market, protect your capital, be patient
  • #109,770
  • Sep 2, 2008 10:13am Sep 2, 2008 10:13am
The daily chart shows three time the 192.60 as a strong support.

Three times is a charm...

Anyway the fundamentals is holding the GJ up for now..




Quoting karmostaji
Once 1H QQE crosses downwards and a candle closes below 1h gann hilo, this beast will take a big dive into hell lol
Attached Image (click to enlarge)
Click to Enlarge Name: daily gj chart.gif Size: 45 KB
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  • #109,771
  • Sep 2, 2008 10:16am Sep 2, 2008 10:16am
with a little " pills "
Quoting karmostaji
Once 1H QQE crosses downwards and a candle closes below 1h gann hilo, this beast will take a big dive into hell lol
  • #109,772
  • Edited 10:53am Sep 2, 2008 10:18am | Edited 10:53am
Today, I believe the market is waiting on the amount of oil rigs damage for overall assessment..

My bias is the damage is minimal based on the updated news..

Good for US to strenghten more against the other currencies..

Retracement is my Bias for now unless there is major damage in the Gulf of Mexico..

You be the judge..




Quoting toyboy tramp
That would fill the gap, todays daily is currently forming into a pinbar, this could change before close, but if it doesn't and it confirms (breaks to the upside) then I think there's a strong possibility we'll go up and fill the gap.
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  • #109,773
  • Sep 2, 2008 10:24am Sep 2, 2008 10:24am
Quoting toyboy tramp
That would fill the gap, todays daily is currently forming into a pinbar, this could change before close, but if it doesn't and it confirms (breaks to the upside) then I think there's a strong possibility we'll go up and fill the gap.
i agree with this. 19260 was strong support,23.6% retracement from 21500 around 19760-19790 area.
  • #109,774
  • Sep 2, 2008 10:48am Sep 2, 2008 10:48am
Scenaro if the 192.60 support breaks

The S2 179.80 level will possible be next target..

Possible pips for long term traders... 1280 pips..


You be the judge..

Attached Image (click to enlarge)
Click to Enlarge Name: weekly gj chart.gif Size: 49 KB
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  • #109,775
  • Sep 2, 2008 10:55am Sep 2, 2008 10:55am
Quoting karmostaji
Once 1H QQE crosses downwards and a candle closes below 1h gann hilo, this beast will take a big dive into hell lol
someone beat that qqe before asia open pls
  • #109,776
  • Sep 2, 2008 11:01am Sep 2, 2008 11:01am
Quoting cohiba pips
someone beat that qqe before asia open pls
Patience
Trade what you see, not what you think.
  • #109,777
  • Sep 2, 2008 11:02am Sep 2, 2008 11:02am
Quoting rgitt05
Retracement to (38.2) 197.96 at least ....

Target from 193.50 to 197.00 range

Possible for 350 to 400 pips

You be the judge
i'm not buying, but will be happy if we go to fill the gap a.k.a add more short

we are still facing heavy news for next few days, i think any break of today's low (the same as march's low) means GJ heading to 61.8 of monthly fibo at 187.49.. otherwise, filling the gap would be nice..

http://img172.imageshack.us/img172/4...808x477lh2.jpg
  • #109,778
  • Sep 2, 2008 11:18am Sep 2, 2008 11:18am
Quoting karmostaji
Patience
Yes patience is good answer....I put some short 194.50 and TP somewhere 192.00 QQE M30 already crossed and GJ closed below Gann...whatever it is I already lock SL at 194.40 just for 10 pips profit.....
  • #109,779
  • Sep 2, 2008 11:30am Sep 2, 2008 11:30am
Quoting karmostaji
Once 1H QQE crosses downwards and a candle closes below 1h gann hilo, this beast will take a big dive into hell lol
I have a different look on this beast today. I think we would see it reached daily 5 sma by tomorrow
  • #109,780
  • Sep 2, 2008 11:40am Sep 2, 2008 11:40am
Probably not if we have a daily close under 192.42
Attached Image (click to enlarge)
Click to Enlarge Name: SP32-20080902-143720.gif Size: 12 KB
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