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

  • #145,761
  • Dec 3, 2008 6:04pm Dec 3, 2008 6:04pm
Quoting malcolmb14
not if that GU bear flag breaks tonight ... one more push down ... maybe 134 for the pros to load up for the raise from the dead
1hr stoch supports a move lower (dip below 137 area), all other chart are showing a strong move up after the 1hr stoch is worked out. . .

I think we'll see price dip to today's lows before it's bought up significantly for a run to 141 area before the rate announcement. . .
  • #145,762
  • Dec 3, 2008 6:06pm Dec 3, 2008 6:06pm
Quoting sohail212
Good evening,
Quecee5, how you get these numbers? If you don't mind telling.

Thanks
combination of intraday (1hr/4hr) and daily support. . .
  • #145,763
  • Dec 3, 2008 6:09pm Dec 3, 2008 6:09pm
Quoting belekas
Im short. Lets see how this plays out.
Short of the descending resistance TL in confluence with DP. Position up 50 pips, stop moved @ b/e + 1. Its a free ride though i might get stopped out. No biggie, as the dayly stills suggests more upside as the LTL from the 4hr still holding.
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  • #145,764
  • Dec 3, 2008 6:11pm Dec 3, 2008 6:11pm
Quoting quecee5
combination of intraday (1hr/4hr) and daily support. . .
hello there Q.
  • #145,765
  • Dec 3, 2008 6:11pm Dec 3, 2008 6:11pm
Quoting quecee5
1hr stoch supports a move lower (dip below 137 area), all other chart are showing a strong move up after the 1hr stoch it worked out. . .

I think we'll see price dip to the today's lows before it's bought up significantly for a run to 141 area before the rate announcement. . .


I think maybe after .... there is way to much bearishness surrounding this rate cut, once it is done the focus will turn from GBP to USD .... I mean look at all the news items today ... all were worse than expected.

I see a very probable bounce of the GJ all way to 141 and maybe even higher . It could be in form of a very impulsive bear rally.

the LR channel on the rsi is being tested , but RSI is above 50 and has enough room to allow the drop tonight to maybe even lower than todays lows.

As you say though there is clearly bullish div on 8 hr chart and higher

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Blogging daily now at www.volume.zone
  • #145,766
  • Dec 3, 2008 6:19pm Dec 3, 2008 6:19pm
Quoting Pip Dream
That's a pretty little Head & Shoulders on the 5 minute chart.
that's what i get for not listening i could have trapped some pips.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #145,767
  • Dec 3, 2008 6:19pm Dec 3, 2008 6:19pm
Quoting pkimnyc
hello there Q.
Good evening bro -
  • #145,768
  • Dec 3, 2008 6:20pm Dec 3, 2008 6:20pm
Quoting malcolmb14
I think maybe after .... there is way to much bearishness surrounding this rate cut, once it is done the focus will turn from GBP to USD .... I mean look at all the news items today ... all were worse than expected.

I see a very probable bounce of the GJ all way to 141 and maybe even higher . It could be in form of a very impulsive bear rally.

the LR channel on the rsi is being tested , but RSI is above 50 and has enough room to allow the drop tonight to maybe even lower than todays lows.

As you say though there is clearly bullish div on...
Agreed. . .
  • #145,769
  • Dec 3, 2008 6:20pm Dec 3, 2008 6:20pm
Quoting malcolmb14
I think maybe after .... there is way to much bearishness surrounding this rate cut, once it is done the focus will turn from GBP to USD .... I mean look at all the news items today ... all were worse than expected.

I see a very probable bounce of the GJ all way to 141 and maybe even higher . It could be in form of a very impulsive bear rally.

the LR channel on the rsi is being tested , but RSI is above 50 and has enough room to allow the drop tonight to maybe even lower than todays lows.

As you say though there is clearly bullish div on...
i think your right.. we should get some more upside before the big bear continues with the storm..

edited... lol Q agreed with Malcomb at the same time. that's funny!
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #145,770
  • Dec 3, 2008 6:28pm Dec 3, 2008 6:28pm
Here is what I'm monitoring at the moment. . . Notice the triple bottom/support (for now) at the low. . .

Only a break of this support would suggest further downside to 134 area or lower. . .

I plan to start accumulating longs if the low is retested and holds. ..
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  • #145,771
  • Dec 3, 2008 6:33pm Dec 3, 2008 6:33pm
I am more interested in the GU chart than the GJ chart to give me the direction of the GJ tonight

I am watching this very clear bear flag. If it breaks , the flag pole was 300 pips , could lead to another 300 pip drop on GU tonight and hence GJ

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  • #145,772
  • Dec 3, 2008 6:34pm Dec 3, 2008 6:34pm
Hi Q!

We should test at least 137 area. My chart, My next target

http://www.doske.com/fx/snapshot-312.png
  • #145,773
  • Dec 3, 2008 6:37pm Dec 3, 2008 6:37pm
looks like the flags going to break nice charts malcom

and good evening to you
  • #145,774
  • Dec 3, 2008 6:38pm Dec 3, 2008 6:38pm
Quoting Piters
Hi Q!

We should test at least 137 area. My chart, My next target
My thoughts exactly. . .
I'm thinking 137/136.77/80 area, it might dip slightly lower before heading back up. . .
  • #145,775
  • Dec 3, 2008 6:39pm Dec 3, 2008 6:39pm
picture seems to be a lot more clearer than before.
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  • #145,776
  • Dec 3, 2008 6:43pm Dec 3, 2008 6:43pm
Quoting Pip Dream
Lets hope he did!!

Yes indeed, I hope he did.
  • #145,777
  • Dec 3, 2008 6:54pm Dec 3, 2008 6:54pm
anyone in GU ?
  • #145,778
  • Dec 3, 2008 6:56pm Dec 3, 2008 6:56pm
nearly there malcom really good call !!
  • #145,779
  • Dec 3, 2008 7:08pm Dec 3, 2008 7:08pm
Dumb question:
Wouldn't the anticipated rate cut be factored into the market already? I mean in the last few days, the various bad news release have seemingly just been by-passed by any real PA, it just continued on doing what its doing.

Thoughts??
  • #145,780
  • Dec 3, 2008 7:12pm Dec 3, 2008 7:12pm
(IGM)[EUR/YEN]'s late NY rebound (especially 2 hours ahead of close everyday) along with the [DJIA]'s...

[EUR/YEN]'s late NY rebound (especially 2 hours ahead of close everyday) along with the [DJIA]'s rally can be ignored, or would be a good opportunity to sell considering the following decline in the early Tky/Asian session repeated every day. Rebounds are getting lower day by day, while downside is limited at the 116's (becoming downside key area). The market has to go through the event of ECB's rate cut and experience after the fact buying back actions, then next decline would come after that.

(IGM)The [DLR/YEN] edges lower from 93.46 to 93.05 amid talk of Asian sales. Late NY rally along...

The [DLR/YEN] edges lower from 93.46 to 93.05 amid talk of Asian sales. Late NY rally along with the [DJIA]'s rise is as usual, and weakness around the early stage of Tky/Asian session is also repeated everyday (pension buying yesterday scrapped this pattern however). This kind of slow pace of decline is the worst pattern, since the positions never get fully short.
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