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

  • #131,681
  • Nov 4, 2008 5:15pm Nov 4, 2008 5:15pm
Quoting ovaforty
I see the technicals pointing upwards for gbp/usd. Look at this 4 hour chart. We see the moms in agreement slightly bullish. We see the 5 sma close has crossed above the 5 sma open. The green 22 sma is above the brown 55 sma. Candlestick patterns shows a continuation upward. The green 22 sma has held as resistance 2 times. The 3rd attempt will break her and target the aqua colored 100 sma.
Wednesday is triple swap day.

The monthly chart one candle mom is pointing up and trying to break the 100 level which tells us that the pair will test the 5 sma channel by Thanksgiving, just as the geppy monthly chart shows us.
I Agree, here's what i am looking at and want to share....just my 2 cents

RSI on 1 hr has broken its upper TL and now same TL acting as support.
down move found support on fibo 38.2, before bouncing a little bit,
once we break the upper TL of the bull flag... 166.69 seems to be an easy target at fibo 161.8

ps: notice the similar rsi breakout on e/u, g/u and e/j as well
Attached Image (click to enlarge)
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  • #131,682
  • Nov 4, 2008 5:18pm Nov 4, 2008 5:18pm
Quoting 5ysfx
162 in a few hours or higher ?

malcolm ?
no idea .. going back to day trading cave .

though for sure we gonna see 125 ...lol

might see 185 now ...

I do not know how the swing traders can handle these 600 pips swings in one session....better to day trade
Blogging daily now at www.volume.zone
  • #131,683
  • Nov 4, 2008 5:20pm Nov 4, 2008 5:20pm
The currencies that have cut rates, thereby easing borrowing have been rewarded lately. Look what happened to the aud/usd.

A rate cut for euro and gbp may be bullish.



Volumes are low.
  • #131,684
  • Nov 4, 2008 5:23pm Nov 4, 2008 5:23pm
Quoting ovaforty
The currencies that have cut rates, thereby easing borrowing have been rewarded lately. Look what happened to the aud/usd.

A rate cut for euro and gbp may be bullish.



Volumes are low.

The difference is that UK is in a recession with GDP @ -0.5% last report. That may lead to an inverse effect no? Just some food for thought.
  • #131,685
  • Nov 4, 2008 5:38pm Nov 4, 2008 5:38pm
my 2 cents worth

4 hour charts

the price is above both the 14 and 33 sma = bullish
the price tested upper channel and got rejected from it = bearish

using symmetry from the move 163 to 153 we could get a down move to bottom of channel 151.

rsi trendline is not broken on the 4 hour = bearish still

ultimately I would go in for a swing trade short if the 14 sma was broken at 158 ish with a downside target 152

I would go for a swing trade long if we broke the close and open price of the last 2 *4 hour candles at 160.30 . Upside target 163.55

This does look kind of bull flag like as the channel progresses . The fundies do not make any sense ... but the charts do not lie

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 22 KB
Blogging daily now at www.volume.zone
  • #131,686
  • Nov 4, 2008 5:40pm Nov 4, 2008 5:40pm
My Basis of trading is PA. My charts are telling showing me Bulls and Bears. looks like I need to sit out until movement starts!

B
  • #131,687
  • Nov 4, 2008 5:51pm Nov 4, 2008 5:51pm
Quoting bigcoupe
My Basis of trading is PA. My charts are telling showing me Bulls and Bears. looks like I need to sit out until movement starts!

B
me too.

on a side note, I just watched the newest family guy episodes
  • #131,688
  • Edited 6:07pm Nov 4, 2008 5:57pm | Edited 6:07pm
Quoting malcolmb14
my 2 cents worth

4 hour charts

the price is above both the 14 and 33 sma = bullish
the price tested upper channel and got rejected from it = bearish

using symmetry from the move 163 to 153 we could get a down move to bottom of channel 151.

rsi trendline is not broken on the 4 hour = bearish still

ultimately I would go in for a swing trade short if the 14 sma was broken at 158 ish with a downside target 152

I would go for a swing trade long if we broke the close and open price of the last 2 *4 hour candles at 160.30 . Upside target 163.55

This does look kind of bull flag like as the channel progresses . The fundies do not make any sense ... but the charts do not lie...
finally i can agree with u in 100%

two simple wedges below
Attached Image (click to enlarge)
Click to Enlarge Name: gj27.jpg Size: 122 KB
  • #131,689
  • Nov 4, 2008 6:17pm Nov 4, 2008 6:17pm
Quoting sonicdeejay
Shall I say I tel u so??
Horray for those who lONG....

http://www.forexfactory.com/attachme...1&d=1225787113
http://www.forexfactory.com/attachme...1&d=1225803819




Sonic
http://www.forexfactory.com/attachme...1&d=1225839319


Devouring Milky Bar..

Sonic
  • #131,690
  • Nov 4, 2008 6:19pm Nov 4, 2008 6:19pm
shorts have it for now @58.82

a daily close below 55.31 is super bearish near term
"Millionaires don't use astrology, billionaires do"
  • #131,691
  • Nov 4, 2008 6:23pm Nov 4, 2008 6:23pm
added to long at 15830
bullish div 30 sec and 1 min chart
  • #131,692
  • Nov 4, 2008 6:26pm Nov 4, 2008 6:26pm
Quoting 5ysfx
added to long at 15830
bullish div 30 sec and 1 min chart
long?? I thought your target is 155??
  • #131,693
  • Nov 4, 2008 6:26pm Nov 4, 2008 6:26pm
Quoting sonicdeejay
http://www.forexfactory.com/attachme...1&d=1225839319


Devouring Milky Bar..

Sonic

Mily Bar kid ....

I am out of all swing trades ... I suck at it .. although i did escape with 500 pips still ..

day trading the crap out of it and loving it .. 1st 100 of asain session grabbed
now looking long off 158.15
Blogging daily now at www.volume.zone
  • #131,694
  • Nov 4, 2008 6:29pm Nov 4, 2008 6:29pm
Quoting malcolmb14
Mily Bar kid ....

I am out of all swing trades ... I suck at it .. although i did escape with 500 pips still ..

day trading the crap out of it and loving it .. 1st 100 of asain session grabbed
now looking long off 158.15

Buddy...guess ur doing Ful Time...
Man..I wish i can do that...

Sonic
  • #131,695
  • Nov 4, 2008 6:30pm Nov 4, 2008 6:30pm
Quoting sonicdeejay
Buddy...guess ur doing Ful Time...
Man..I wish i can do that...

Sonic
I typically trade in the mornings for 4 hours .... that is it 4am to 8am my time

I hope to grab 30 -50 pips ..... more than that I am very happy

these days asia has been great ( 4 pm my time) so go in for 1 or 2 hours and grab some more
Blogging daily now at www.volume.zone
  • #131,696
  • Nov 4, 2008 6:34pm Nov 4, 2008 6:34pm
Quoting pepsi
long?? I thought your target is 155??
yeah im long 15915 15862 15830 targeting 166

short is also possible but i havent seen sell signal yet.
  • #131,697
  • Nov 4, 2008 6:40pm Nov 4, 2008 6:40pm
Quoting malcolmb14
Mily Bar kid ....

I am out of all swing trades ... I suck at it .. although i did escape with 500 pips still ..

day trading the crap out of it and loving it .. 1st 100 of asain session grabbed
now looking long off 158.15

stop break even this trade

target ????

.52
.86
159.40
160.3
Blogging daily now at www.volume.zone
  • #131,698
  • Nov 4, 2008 6:40pm Nov 4, 2008 6:40pm
from here GJ will drop very hard and very fast TP 153.43 confirmation received.
  • #131,699
  • Nov 4, 2008 6:41pm Nov 4, 2008 6:41pm
Quoting forexlion
from here GJ will drop very hard and very fast TP 153.43 confirmation received.
i wish i could beleive you
  • #131,700
  • Nov 4, 2008 6:42pm Nov 4, 2008 6:42pm
Quoting 5ysfx
yeah im long 15915 15862 15830 targeting 166

short is also possible but i havent seen sell signal yet.
Be careful...call it an inkling, a hunch if I may, that GJ will break 153 by noontime tomorrow.
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