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

  • #146,821
  • Edited 9:44am Dec 7, 2008 7:01am | Edited 9:44am
NIce multi week Resistance line, been tested for 3 times and formed a nice Inverse H&S patters. Monday is a very important day to show us the next direction on the market.

Breakout of that Resistance line acting as Neckline of Inverted Head and Shoulder formation, and we can expect upper targets @ 10150 - 10366 which is also a Retracement value of FIBO 0.50 from the last drop. However failure to do so (breakout), then for sure, we are going to retest the low again)

Personaly, I believe in my first theory, that from monday the market is going UP, and we are going to se a penetration and breakout.

The first warning signs of penetrations are here, you can see on STOCH indicators are in BUY position, but the most important one is CCI ,definitely penetrated and closed above 100 level.
Guys, fireworks on Monday, don't be biased, all options are OPEN. However IF the price reject from these levels (mean false breakout), then we go down again to retest the LOW.

*********************************************************

Why is this so important:

Recovery of DOW and S&P can also take all YEN pairs of the multiyear lows, and we can easily see a nice correction (mean UY, AY, GY, EY, CY -> bullish)


So it is important to watch all this levels to have an idea what the market is UP TO..

my other analysis for S&P, and Dow Jones you can find posted on my journal

Safe trade!
Cheers,
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  • #146,822
  • Dec 7, 2008 7:27am Dec 7, 2008 7:27am
I see the real time quotes for jpy crosses all down from friday closing prices , gbpjpy now 136.03.so there are consolidation forming the iv wave of the last impulse & may go up by the time the market open .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #146,823
  • Dec 7, 2008 7:34am Dec 7, 2008 7:34am
Trade what you see on your chart, only.
Trade what you see, not what you think.
  • #146,824
  • Dec 7, 2008 7:47am Dec 7, 2008 7:47am
Quoting karmostaji
Trade what you see on your chart, only.
Yes that's true just wanted to see what actually happening during holiday time .Thanks for the advice I like your prediction before the major movements , saw few times were most accurate & very timely and all for shorts . Any such accuracy can be for gann-qqe system ? not understand so far?
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #146,825
  • Dec 7, 2008 7:59am Dec 7, 2008 7:59am
Quoting karmostaji
Trade what you see on your chart, only.
This is gold but it's very very hard for people to convince themselves completely to do so. Took me 9 months and one blown up account to believe in this.
Discipline + Patience - Fear - Greed = Success
  • #146,826
  • Dec 7, 2008 8:07am Dec 7, 2008 8:07am
Quoting karmostaji
Trade what you see on your chart, only.
very true, there is no use trying to read the future.

its a waste of time.
  • #146,827
  • Dec 7, 2008 8:18am Dec 7, 2008 8:18am
Originally Posted by karmostaji http://www.forexfactory.com/images/buttons/viewpost.gif
Trade what you see on your chart, only

Quoting arezab
This is gold but it's very very hard for people to convince themselves completely to do so. Took me 9 months and one blown up account to believe in this.
It is hard not to get caught up in all the HYPE.

A trader must make up their own mind & live with the outcome of their own decisions.
I trade what I see on my charts. Do Not listen to the Muppets.
  • #146,828
  • Dec 7, 2008 8:55am Dec 7, 2008 8:55am
Quoting karmostaji
Trade what you see on your chart, only.

See posts saying it might go down to double figures, it might go up then down - gimme a break, no one knows what this pair will do.

Even saw one predicting the collapse of society lol. That guy needs to spend more time outside.
yyssw
  • #146,829
  • Dec 7, 2008 8:55am Dec 7, 2008 8:55am
[quote=Piters;2401536]NIce multi week Resistance line, been tested for 3 times and formed a nice Inverse H&S patters. Monday is a very important day to show us the next direction on the market.
And can you tell me please, where is the neck line red one or blue,I like more the blue one?attachmentid=178965&stc=1&d=1228661353[/IMG]
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  • #146,830
  • Dec 7, 2008 9:07am Dec 7, 2008 9:07am
[quote=eleron;2401601]
Quoting Piters
NIce multi week Resistance line, been tested for 3 times and formed a nice Inverse H&S patters. Monday is a very important day to show us the next direction on the market.
And can you tell me please, where is the neck line red one or blue,I like more the blue one?attachmentid=178965&stc=1&d=1228661353[/IMG]
to be more accurate, the red one is a trendline, the blue one is a neck line, You are correct. However, the breakout of the first one is going to push the price UP and play the Head and Shoulder Formation. My intention was to point on this formation, and the imortance of that level..

Thanks (blagodaram)
  • #146,831
  • Dec 7, 2008 9:08am Dec 7, 2008 9:08am
Intresting clip Dr.G
"Millionaires don't use astrology, billionaires do"
  • #146,832
  • Dec 7, 2008 9:11am Dec 7, 2008 9:11am
Quoting fontu
There are many predictions as to the next movement . I think the fair chance to reach 140 before the bottom again & down further.

cllassic bullish diversion in H4 active though 50ma at 142 but bollinger band showing 140 now .fast stoch strikingly up and slow one still down.

H1 showed Bullish diversion & still active too. slow stoch wide open up , have all supports & crossed 50ma .

The last impulse wave seems finishing wave iii and to have v want still to about 138.70 minimum .
Expected range 138.70 to 142 .
Yes, i too feel that, as i was thinking...

http://current.com/items/89567384/fe...f_gse_debt.htm

1. BoJ will intervene to aid exporters, selling off the yen.
2. Auto-makers bailout would turn out successful.
3. Fed continues to buy securities off the market directly.
4. 140.00 being a psychological limit, but there is a scope for trend to extend further, if BoE wanted to help their importers, as most of their manufacturers reside outside England. And, don`t forget... UK is mostly service based economy, atleast to a handful of stuff...

Think about it...
  • #146,833
  • Dec 7, 2008 9:14am Dec 7, 2008 9:14am
Quoting bagpuss

See posts saying it might go down to double figures, it might go up then down - gimme a break, no one knows what this pair will do.

Even saw one predicting the collapse of society lol. That guy needs to spend more time outside.
The collapse of society...LMAO WOW
  • #146,834
  • Dec 7, 2008 9:34am Dec 7, 2008 9:34am
will probably be sold off on tuesday as we move into this point 7 and find a lo point in or around that red deviation point area. Price is unknow, where it ends is where it ends
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"Millionaires don't use astrology, billionaires do"
  • #146,835
  • Dec 7, 2008 9:41am Dec 7, 2008 9:41am
There was a time when the yen traded 572.00 against the pound... And now, it`s almost lost 80% of it`s value. More to go than to come ...lol
  • #146,836
  • Dec 7, 2008 9:44am Dec 7, 2008 9:44am
Quoting NightMoves
The collapse of society...LMAO WOW
On another point of view, do you know that last week GU PA was playing around sept 11 2001 daily range. The sept 11 2001 lowest daily candle become last week support. I dont know what you guys inteprets of that. Just an interesting coincidence or is it. Maybe alien will visit earth this time lol.
  • #146,837
  • Dec 7, 2008 9:49am Dec 7, 2008 9:49am
Quoting zapper
There was a time when the yen traded 572.00 against the pound... And now, it`s almost lost 80% of it`s value. More to go than to come ...lol

How can u be so sure, smart money works in secret, they could be buying as we speak and because of their subtlety u would never know. It takes them months to put a postion on and can sit for endless time averaging in, while waiting years for their payday and it will be HUGE.
Expect the unexpected
"Millionaires don't use astrology, billionaires do"
  • #146,838
  • Dec 7, 2008 9:58am Dec 7, 2008 9:58am
Quoting OrionsWay
How can u be so sure, smart money works in secret, they could be buying as we speak and because of their subtlety u would never know. It takes them months to put a postion on and can sit for endless time averaging in, while waiting years for their payday and it will be HUGE.
Expect the unexpected
yup, that`s true. I might accept the fact that it would take them months and even years for the market to reach their net position. But i`m not certain about what they would do, then. They might push it further up, or get out for no profit, no loss in anticipation of a lower top formation...
  • #146,839
  • Dec 7, 2008 10:06am Dec 7, 2008 10:06am
Quoting zapper
yup, that`s true. I might accept the fact that it would take them months and even years for the market to reach their net position. But i`m not certain about what they would do, then. They might push it further up, or get out for no profit, no loss in anticipation of a lower top formation...

They dont lose, they are the trend, when they have enough in the coffers to start the assualt, its a non stop buying/selling until they have reached a point where momentum carries them on the backs of speculators, and with each pause they are the propulsion through that sup/res until momentum carries them once again. and when they meet their target area's months before the trend ends they are liquidating into that momentum, only to surge through sup/res once again adding very few positions to keep said momentum going. and do it again over and over and over by sides up and down.
Just look at the price action of euro over the last decade. Its over when they say its over. same as OIL
"Millionaires don't use astrology, billionaires do"
  • #146,840
  • Dec 7, 2008 10:29am Dec 7, 2008 10:29am
Quoting OrionsWay
They dont lose, they are the trend, when they have enough in the coffers to start the assualt, its a non stop buying/selling until they have reached a point where momentum carries them on the backs of...
Yes, i strongly agree with the price action of the last decade. But we have a lot more parameters these days. With oil bottoming, but the EU still not broken some supports critical to a bear trend, i guess it`s only going to be either a slow down trend or a possible shoulder formation in the coming months at about 1.35, before resumption...
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