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

  • #119,921
  • Oct 7, 2008 5:10pm Oct 7, 2008 5:10pm
Quoting khaled22
What 52 ?????????????
current price was 177 area so the 52 was 177.52
Price does what price wants , I just need to be prepared.
  • #119,922
  • Oct 7, 2008 5:13pm Oct 7, 2008 5:13pm
Some market thoughts: There is talk in early Asia of Japanese demand for EUR/JPY after the cross slid lower late in the US session when Wall Street slumped badly. The EUR/JPY has risen to 138.50 in early Asia from 137.60 while the EUR/USD has pushed up to 1.3634 from 1.3580. Hourly resistance is found at 1.3665 while key resistance is found at yesterday"s high around 1.3740. Hourly support has formed at 1.3560/65 and a break below 1.3560 would reignite downward pressure.
The move higher yesterday resulted in the EUR/USD filling in most of the gaps from Friday"s close to the Monday open after a dramatic weekend for the European banking sector. There is talk that the EUR/USD buying yesterday was in part due to unwinding of EUR/GBP shorts after it was reported that UK banks went to the UK Treasury to see about getting public money to support them
  • #119,923
  • Oct 7, 2008 5:16pm Oct 7, 2008 5:16pm
Quoting khaled22
What 52 ?????????????
1st tp 178.45
Price does what price wants , I just need to be prepared.
  • #119,924
  • Oct 7, 2008 5:29pm Oct 7, 2008 5:29pm
Quoting PJkiller
current price was 177 area so the 52 was 177.52
did you think the target 50 EMA in 4H frame @ 185 or 50EMA in 1H frame @180
  • #119,925
  • Oct 7, 2008 5:34pm Oct 7, 2008 5:34pm
Quoting malcolmb14
closed ga and gj ...

got morning star , which if plays out on 5 min my buy stop is 177.30 with target 178
I should have just left this trade on ... missed 70 lovely pips

also using my system missed small spike (300- pips .. lol ) gbpaud ....

Blogging daily now at www.volume.zone
  • #119,926
  • Oct 7, 2008 5:39pm Oct 7, 2008 5:39pm
mktjong where do you think E/U is heading to? Do you think we will see today's highs again?
  • #119,927
  • Edited 5:41pm Oct 7, 2008 5:39pm | Edited 5:41pm
GBPJPY is at a point of possible correction from recent development. Considering that surge in the YEN value as an export driven currency, this may be a trend the Japanese authorities could bulk at anytime. See the chart for your self. http://www.siriusforex.com/gbpjpy-nearterm.gifhttp://www.siriusforex.com/gbpjpy-nearterm.gif
It is currently at Elliot Wave 4th-Wave support level. Keep a close eye.
  • #119,928
  • Oct 7, 2008 5:39pm Oct 7, 2008 5:39pm
Quoting PJkiller
1st tp 178.45
stopped out at break even try again later
Price does what price wants , I just need to be prepared.
  • #119,929
  • Oct 7, 2008 5:45pm Oct 7, 2008 5:45pm
Quoting vinesh2
mktjong where do you think E/U is heading to? Do you think we will see today's highs again?

unless we break back above the bottom of the flag this thing is not going higher as we are getitng lower highs everytime it tries to move up

The reason i had target of 178 on last long becuase that was the bottom of the channel that was broken and had to be re-tested.

there is 1-2-3 sell formation 15 min chart that gives downside 174.
Blogging daily now at www.volume.zone
  • #119,930
  • Oct 7, 2008 5:50pm Oct 7, 2008 5:50pm
Quoting Nardino
GBPJPY is at a point of possible correction from recent development. Considering that surge in the YEN value as an export driven currency, this may be a trend the Japanese authorities could bulk at anytime. See the chart for your self. http://www.siriusforex.com/gbpjpy-nearterm.gifhttp://www.siriusforex.com/gbpjpy-nearterm.gif
It is currently at Elliot Wave 4th-Wave support level. Keep a close eye.

please reduce chart size you are messing up the thread .... thanks
Blogging daily now at www.volume.zone
  • #119,931
  • Oct 7, 2008 6:00pm Oct 7, 2008 6:00pm
Quoting malcolmb14
unless we break back above the bottom of the flag this thing is not going higher as we are getitng lower highs everytime it tries to move up

The reason i had target of 178 on last long becuase that was the bottom of the channel that was broken and had to be re-tested.

there is 1-2-3 sell formation 15 min chart that gives downside 174.
dont you think we are heading for 176 guys if it breaks

the 23.6 fib on the 15m chart theres no stopping this drop

the bail out news isnt helping at all the problem is massive

and the yen will only get stronger during weird times like this

i only wish i didnt have to live through it
  • #119,932
  • Oct 7, 2008 6:03pm Oct 7, 2008 6:03pm
Quoting cohiba pips
dont you think we are heading for 176 guys if it breaks

the 23.6 fib on the 15m chart theres no stopping this drop

the bail out news isnt helping at all the problem is massive

and the yen will only get stronger during weird times like this

i only wish i didnt have to live through it

at least we know how to trade and can play both sides of the markets .. most do not have this luxory and are losing $$$$

I think we may see 176 later during Asia
Blogging daily now at www.volume.zone
  • #119,933
  • Oct 7, 2008 6:09pm Oct 7, 2008 6:09pm
Quoting vinesh2
mktjong where do you think E/U is heading to? Do you think we will see today's highs again?
No, I really don't think so. I think it may go as high as 1.3650 area. It would range in between 1.3530 - 1.3650 area.
Attached Image (click to enlarge)
Click to Enlarge Name: EU.GIF Size: 26 KB
  • #119,934
  • Oct 7, 2008 6:19pm Oct 7, 2008 6:19pm
Quoting malcolmb14
at least we know how to trade and can play both sides of the markets .. most do not have this luxory and are losing $$$$

I think we may see 176 later during Asia
things are in a bad way, i wonder how low it could go - what are you calling malcolm
  • #119,935
  • Oct 7, 2008 6:23pm Oct 7, 2008 6:23pm
Quoting malcolmb14
at least we know how to trade and can play both sides of the markets .. most do not have this luxory and are losing $$$$

I think we may see 176 later during Asia

Hi malcolmb,

yeah you are right my friend ,but i think 174.00 level likley tobe hit next hours.

i think 170.00 level is the beast's bottom in the long run.

good luck
I always knew that someday I would make it big
  • #119,936
  • Oct 7, 2008 6:33pm Oct 7, 2008 6:33pm
i think 170.00 is a critical level for the beast
I always knew that someday I would make it big
  • #119,937
  • Oct 7, 2008 6:46pm Oct 7, 2008 6:46pm
Quoting malcolmb14
at least we know how to trade and can play both sides of the markets .. most do not have this luxory and are losing $$$$

I think we may see 176 later during Asia
Dear malcolmb,
What you see now on GBP/AUD ?????
  • #119,938
  • Oct 7, 2008 6:47pm Oct 7, 2008 6:47pm
i think there is a strong bearish continuation pattern has already been formed on H4 chart .

i think we may see the beast making a new low targeting 170.00 level in the next sessions by friday.

just my humble analysis
I always knew that someday I would make it big
  • #119,939
  • Oct 7, 2008 7:01pm Oct 7, 2008 7:01pm
QQE cross on 1 hr and bottom of flag pierced
The Only Constant Is Change!
  • #119,940
  • Oct 7, 2008 7:02pm Oct 7, 2008 7:02pm
really playing with price right here at these levels. Bunch of jackers.......
Price does what price wants , I just need to be prepared.
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