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

  • #125,301
  • Oct 23, 2008 7:21am Oct 23, 2008 7:21am
Price is sitting on the 161% fib extension, and momentum indicators have turned up for now on the daily and 4 hour chart.
I have exited my short positions.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: geppy daily.gif Size: 22 KB
Click to Enlarge Name: geppy 4 hour.gif Size: 21 KB
  • #125,302
  • Oct 23, 2008 7:21am Oct 23, 2008 7:21am
Quoting arezab
Nobody wants to go a long term short from here, that is for sure. Any temporary drop should be leftovers of bears activity.

I believe at least a 500 pips reversal (which is nothing compared to such a massive monthly drop) is inevitable ...

We must follow the chart though ...
yes, but i think more than 500 pips
  • #125,303
  • Oct 23, 2008 7:22am Oct 23, 2008 7:22am
http://img523.imageshack.us/img523/5...424x397pi8.jpg

ym break H4 trendline (confirmed on H1), expect new low on dow jones
  • #125,304
  • Oct 23, 2008 7:23am Oct 23, 2008 7:23am
Quoting lilmoe
i have a feeling we're going to reverse from here again.

closing 1 short position for 330 pips.
no longs yet.

agree

price will now form the lower part of the current 4 h candle, and beginning next 4 h candle the upper wick of the next 4 h candle. Then we will go down again

target remains 148.

And lower. This scares me.
  • #125,305
  • Oct 23, 2008 7:24am Oct 23, 2008 7:24am
Quoting lilmoe
yes, but i think more than 500 pips
bullish div on 5 and 15 min charts?
I recommend you read something else as this sentence is now concluded.
  • #125,306
  • Oct 23, 2008 7:26am Oct 23, 2008 7:26am
Quoting herry_winandi
http://img523.imageshack.us/img523/5...424x397pi8.jpg

ym break H4 trendline (confirmed on H1), expect new low on dow jones
there is a 3 bearish crows pattern developing on the 4 h dow chart
  • #125,307
  • Oct 23, 2008 7:29am Oct 23, 2008 7:29am
TNX opened bearish. I think it will move up during US session, then change and at the end of the day form another bearish candle. Interisting to see the development.

If this change to bearish again, geppy will drop.

http://stockcharts.com/h-sc/ui?c=$TNX,uu%5Bh,a%5Ddaclyyay%5Bpb50%21b200%21f%5D%5Bvc60%5D%5Biue12,26,9%21lc20%5D
  • #125,308
  • Oct 23, 2008 7:37am Oct 23, 2008 7:37am
Quoting Obaidah
bullish div on 5 and 15 min charts?
nope, nothing considerable yet.

edit: the only divergence i see is on 1m, but i wouldn't go for it just yet. i hope u're still short.
  • #125,309
  • Oct 23, 2008 7:39am Oct 23, 2008 7:39am
... 5M is showing signs of a retrace.
Discipline + Patience - Fear - Greed = Success
  • #125,310
  • Oct 23, 2008 7:41am Oct 23, 2008 7:41am
Quoting Scalper
the pound has amost lost half of its value against the yen in less than a year. now that is what I call volatility. im glad I did not keep my cash in pounds.

Almost Half!
I guess that only applies if you are visiting Japan. The average Brit doesn't travel there so will not notice any difference in the value of the pound.
  • #125,311
  • Oct 23, 2008 7:45am Oct 23, 2008 7:45am
Quoting Ladybird
I guess that only applies if you are visiting Japan. The average Brit doesn't travel there so will not notice any difference in the value of the pound.
It is going to affect the cost of electronics, etc which is priced in yen currency but other than that I guess not.

The only other people it affects is us traders!
  • #125,312
  • Oct 23, 2008 7:45am Oct 23, 2008 7:45am
Quoting lilmoe
nope, nothing considerable yet.

edit: the only divergence i see is on 1m, but i wouldn't go for it just yet. i hope u're still short.
yup, and added another one when we broke m5 trendline, all at b/e
I recommend you read something else as this sentence is now concluded.
  • #125,313
  • Oct 23, 2008 7:49am Oct 23, 2008 7:49am
Quoting Scalper
It is going to affect the cost of electronics, etc which is priced in yen currency but other than that I guess not.

The only other people it affects is us traders!
Automobiles.. major sector for japan's economy. I am surprised that the BOJ hasn't cut rates like everyone else - all japanese companies are hurting due to the strong Yen.
  • #125,314
  • Oct 23, 2008 7:50am Oct 23, 2008 7:50am
Morning

My charts show bullish moves from now
wont be trend change but bigger retracement

buy time form me targeting 3H ema 14
  • #125,315
  • Oct 23, 2008 7:53am Oct 23, 2008 7:53am
So I have a 15 min 50 fib at 157.92. Good for a long scalp there.
There is no greater gift than to be a friend.
  • #125,316
  • Oct 23, 2008 7:57am Oct 23, 2008 7:57am
just wanna say thank you geppy for this move:

"thank you geppy"

IŽam flat.
  • #125,317
  • Oct 23, 2008 7:58am Oct 23, 2008 7:58am
Quoting lilmoe
i have a feeling we're going to reverse from here again.

closing 1 short position for 330 pips.
no longs yet.
6th sense
  • #125,318
  • Oct 23, 2008 8:01am Oct 23, 2008 8:01am
ok, now bearish HD on 5m
  • #125,319
  • Oct 23, 2008 8:02am Oct 23, 2008 8:02am
Quoting peaches
just wanna say thank you geppy for this move:

\"thank you geppy\"

IŽam flat.
261% FE of last correction move is working like a charm for targets and reversal

check this out first stop 16550 then down to 142
Attached Image (click to enlarge)
Click to Enlarge Name: snapshot11.png Size: 40 KB
  • #125,320
  • Oct 23, 2008 8:04am Oct 23, 2008 8:04am
Quoting lilmoe
ok, now bearish HD on 5m
short, 157.25
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