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

  • #117,561
  • Sep 27, 2008 10:53am Sep 27, 2008 10:53am
Interesting: overseas investors are so deep into funding U.S. debt that that have to buy the green
  • #117,562
  • Sep 27, 2008 10:54am Sep 27, 2008 10:54am
Quoting malcolmb14
That 1-2-3 buy formation on the 4 hour that formed on the dip to 193.5 Friday has upside targets 198 , 201.6 , 203.33 ( I like this target as it is the 78.6 fe of the 1-2-3 and the 61.8% retrcement of 215 to 184 move

Not just that but if we can get above 196.50 and hold on a daily close it is the 1st time we have been above the 33 sma since Augusa
I will buy dips from 191 to 189 target 204.5 61.8% fibo.
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  • #117,563
  • Sep 27, 2008 11:16am Sep 27, 2008 11:16am
Be careful of the fundamentals..The feds can mess up your projection..

The feds for the past weeks effected many swing traders..

I hope this sunday we will know what if the Bailout plan pass..

Nice setup!!

Here is my projection chart on a 76.8 retracement..

My swing trade target in the 208.00 range..

Good Luck.



Quoting 5ysfx
I will buy dips from 191 to 189 target 204.5 61.8% fibo.
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  • #117,564
  • Sep 27, 2008 11:36am Sep 27, 2008 11:36am
This is the Daily GJ chart..


The trendline is still holding..

If the trendline holds then the 210 area at 38.2% 209.97 retracement from 251.09.


If the trendline holds then maybe in 6 to 8 months the 184.54 low point maybe tested again for a new low..

Wait and see..

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  • #117,565
  • Sep 27, 2008 12:19pm Sep 27, 2008 12:19pm
Quoting khaled22
After closeing brokers by moment the price go to:
GBP/USD 1.8330
USD/JPY 105.00
GBP/JPY 195.13
EUR/USD 1.4553
GBP/CHF 1.9931
AUD/USD 0.8236
USD/CHF 1.0825

Aren't you confusing closing prices to daily lows ?
  • #117,566
  • Sep 27, 2008 12:31pm Sep 27, 2008 12:31pm
Quoting rgitt05
This whole week have been ranging between 195.00 to 197.00..It finally broken out to the down side and retrace back to the 195.50 as a Strong Resistance on 1 hr chart..I believe we are due for a fast retracement if the fundamental news about the Bailout plan is good...


Based on 4hr chart,the consolidation finally brokeout to the down side for a short run and retraced backup to the 195.60 as a STRONG resistance.

There is a consolidation zone the price action needs to clear before a strong retracement back to the possible 202.00 range as the next resistance.


Based on the fibs on the Daily chart, I believe will retrace back to the 61.8% 204.00 range if the rally is strong..

There is so much bias about the government bailout plan that past this weekend...

If the bailout plans pass, than a 1000 or more pips this coming week is possible...

Good Luck..

that's the bail out burger pattern. see the burger in the center with tax payer juice dripping off the sides. mmmm good.
  • #117,567
  • Sep 27, 2008 12:52pm Sep 27, 2008 12:52pm
Where's the Beef?

Quoting Trader Neal
that's the bail out burger pattern. see the burger in the center with tax payer juice dripping off the sides. mmmm good.
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  • #117,568
  • Sep 27, 2008 12:59pm Sep 27, 2008 12:59pm
Pls check this info

http://news.bbc.co.uk/1/hi/business/7629107.stm

I don't think that it could be help go UP G/J
  • #117,569
  • Sep 27, 2008 1:05pm Sep 27, 2008 1:05pm
Quoting LukaszH
Pls check this info

http://news.bbc.co.uk/1/hi/business/7629107.stm

I don't think that it could be help go UP G/J
It doesnt matter now .
London stock exchange have forbidden short selling of financial firms until 16th of January so yen will flood the market for a while. At least it should
  • #117,570
  • Sep 27, 2008 1:11pm Sep 27, 2008 1:11pm
Many banks got exposed to this subprime mortgage all over the world

Greed got the best investors...

Intelligence have nothing to do with trading..

I know people with only a high school education and they are successful with trading...

It's controlling the GREED.....

More banks are lining up for there free money from the FEDS..

That is the reason the feds are panic over the bank failures..





Quoting LukaszH
Pls check this info

http://news.bbc.co.uk/1/hi/business/7629107.stm

I don't think that it could be help go UP G/J
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  • #117,571
  • Sep 27, 2008 1:15pm Sep 27, 2008 1:15pm
Quoting 5ysfx
It doesnt matter now .
London stock exchange have forbidden short selling of financial firms until 16th of January so yen will flood the market for a while. At least it should

Do you think USD/JPY will go further down ?
  • #117,572
  • Sep 27, 2008 1:42pm Sep 27, 2008 1:42pm
Quoting lumesh
Do you think USD/JPY will go further down ?
that's not what he's implying.
  • #117,573
  • Sep 27, 2008 1:45pm Sep 27, 2008 1:45pm
I'm a big GBP/JPY bear, but I'm rooting for this package to be passed and to boost the markets up for a week or two, so that GBP/JPY can head back up to hit the top bound of the weekly downtrend. This should happen above 200 (I'm thinking around 205) then head back down with news of more big banks failing.
  • #117,574
  • Sep 27, 2008 1:52pm Sep 27, 2008 1:52pm
I'm confused about your statement..Are you short but you want the retracement to the weekly upperchannel?



Anyway. the fed are talking NOW!!




Quoting falcon232
I'm a big GBP/JPY bear, but I'm rooting for this package to be passed and to boost the markets up for a week or two, so that GBP/JPY can head back up to hit the top bound of the weekly downtrend. This should happen above 200 (I'm thinking around 205) then head back down with news of more big banks failing.
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  • #117,575
  • Sep 27, 2008 1:55pm Sep 27, 2008 1:55pm
Quoting rgitt05
I'm confused about your statement..Are you short but you want the retracement to the weekly upperchannel?



Anyway. the fed are talking NOW!!
That's exactly right. I don't have the balls or the patience to short or buy it now. We're in the damn middle of the channel.
  • #117,576
  • Sep 27, 2008 2:03pm Sep 27, 2008 2:03pm
Quoting lumesh
Do you think USD/JPY will go further down ?

Shouldnt go lower than 103. LTL of green channel.

usd/jpy forecast is in my journal here

http://www.forexfactory.com/showthre...40#post2245540
  • #117,577
  • Sep 27, 2008 3:42pm Sep 27, 2008 3:42pm
Quoting 5ysfx
Shouldnt go lower than 103. LTL of green channel.

usd/jpy forecast is in my journal here

http://www.forexfactory.com/showthre...40#post2245540

around 103 is heavy support definitely and in a couple of weeks i'd say around 108.40-70 but do you think in the very short term it'll break 105 ?
  • #117,578
  • Sep 27, 2008 4:34pm Sep 27, 2008 4:34pm
Yen into the new year MAYBE?
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"Millionaires don't use astrology, billionaires do"
  • #117,579
  • Sep 27, 2008 4:41pm Sep 27, 2008 4:41pm
Quoting lumesh
around 103 is heavy support definitely and in a couple of weeks i'd say around 108.40-70 but do you think in the very short term it'll break 105 ?
Well if this is a bullish formation(i belive it is) then shouldnt go lower than 10550(38.2% fibo of wave 1.
posted chart in EW thread

http://www.forexfactory.com/showthre...26#post2245626
  • #117,580
  • Sep 27, 2008 5:40pm Sep 27, 2008 5:40pm
We are in no mans land...

Quoting falcon232
That's exactly right. I don't have the balls or the patience to short or buy it now. We're in the damn middle of the channel.
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