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

  • #148,301
  • Dec 11, 2008 4:05am Dec 11, 2008 4:05am
Quoting lilmoe
some might actually find this interesting.

usd index has broken downwards.

edit: USD Index has bounced from a weekly 78.6 fibo level.

we might see a rally in GU and EU this week and next week. a bullish HD is forming on USD index daily chart, signaling a potential bounce from the 50ema (purple line), however if we make it below that, it could extend to a 38.2 or even a 50% retracement on the daily chart.

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Dear limoe bro

Will this mean the beast will tank down and what will happen to eurusd will it go up or down along with eurjpy?

regards
Balaji
  • #148,302
  • Dec 11, 2008 4:06am Dec 11, 2008 4:06am
Quoting belekas
GM Lil Moe. Yes i was observing a similar view. Maybe we are in for a bigger pullback, not sure. Also USD/YEN broke out of its 1hr triangle that was a continuation pattern so far i see.
morning big guy
  • #148,303
  • Dec 11, 2008 4:08am Dec 11, 2008 4:08am
Quoting balajis
Dear limoe bro

Will this mean the beast will tank down and what will happen to eurusd will it go up or down along with eurjpy?

regards
Balaji

well honestly i'm NOT sure what this will do to GJ. because it can drive UJ downwards as USD should be getting weaker.

but i think this will cause a rally in both EU and GU very soon. maybe a daily 38.2 to 50% correction.
  • #148,304
  • Dec 11, 2008 4:11am Dec 11, 2008 4:11am
Quoting lilmoe
well honestly i'm NOT sure what this will do to GJ. because it can drive UJ downwards as USD should be getting weaker.

but i think this will cause a rally in both EU and GU very soon. maybe a daily 38.2 to 50% correction.


I share the same view like lilmoe.
  • #148,305
  • Dec 11, 2008 4:12am Dec 11, 2008 4:12am
Quoting Piters
and part of that belongs to you BRO, thanks again for all the TIPS..

you're welcome

by the way, DP was a great price to buy for a scalp. half already closed at 1m 50ema. m15 has a bullish HD.

we might even make a 78.6 retracement of the last move up. i'll try buying again from there for a scalp. price should be heading for 138-138.50 soon.
  • #148,306
  • Dec 11, 2008 4:15am Dec 11, 2008 4:15am
Quoting lilmoe
well honestly i'm NOT sure what this will do to GJ. because it can drive UJ downwards as USD should be getting weaker.

but i think this will cause a rally in both EU and GU very soon. maybe a daily 38.2 to 50% correction.
Yes agree. Im flat right now, as the direction is not clear to me.
  • #148,307
  • Dec 11, 2008 4:18am Dec 11, 2008 4:18am
Quoting belekas
Yes agree. Im flat right now, as the direction is not clear to me.
light might be shed on the way friday. scalping is the only thing to do atm. i see islander and piters rocking this baby with pips! they should help us out!
  • #148,308
  • Dec 11, 2008 4:20am Dec 11, 2008 4:20am
Who are the idiots that are buying this pair?

Let it tank.
  • #148,309
  • Dec 11, 2008 4:21am Dec 11, 2008 4:21am
The hourly 200 SMA is in the mix right now, and price hasn't been above it for a while, expect strong resistance
Money & Pain Respect the market, protect your capital, be patient
  • #148,310
  • Dec 11, 2008 4:22am Dec 11, 2008 4:22am
Quoting lilmoe
light might be shed on the way friday. scalping is the only thing to do atm. i see islander and piters rocking this baby with pips! they should help us out!
Yes they should
  • #148,311
  • Dec 11, 2008 4:27am Dec 11, 2008 4:27am
Quoting lilmoe
light might be shed on the way friday. scalping is the only thing to do atm. i see islander and piters rocking this baby with pips! they should help us out!
But, but, but I was doing what you thought me
  • #148,312
  • Dec 11, 2008 4:42am Dec 11, 2008 4:42am
Quoting lilmoe
price should be heading for 138-138.50 soon.
close enough... close the other half for 75 pips
  • #148,313
  • Dec 11, 2008 4:45am Dec 11, 2008 4:45am
Quoting lilmoe
light might be shed on the way friday. scalping is the only thing to do atm. i see islander and piters rocking this baby with pips! they should help us out!

LOL - and this from the guy that just bought the bounce off the DP.....http://www.forexfactory.com/images/icons/icon14.gif

I suck at at making a close AND reverse....

However, I'm agreeing about a bounce.....there's 2 hours before the start of a time zone on the hourly GU chart, so I'm expecting a new high for this rally, somewhere above the 1.5000 area....
Trading Levels with WRBs
  • #148,314
  • Dec 11, 2008 4:47am Dec 11, 2008 4:47am
Still on Buy position at the moment untill i see clear signal to go short
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  • #148,315
  • Dec 11, 2008 4:53am Dec 11, 2008 4:53am
Quoting Islander
LOL - and this from the guy that just bought the bounce off the DP.....http://www.forexfactory.com/images/icons/icon14.gif

I suck at at making a close AND reverse....

However, I'm agreeing about a bounce.....there's 2 hours before the start of a time zone on the hourly GU chart, so I'm expecting a new high for this rally, somewhere above the 1.5000 area....
we might go down from here for a bearish HD on the m5 chart to play out, unless the previous high on the m5 is taken out.

here's something i'd like to share. lately i've been using 2h and 8h TFs... the 8h TF proved a bit powerful when combined with my system.

since september, price couldn't go anywhere above 50ema on the 8h chart. each touch of 50ema was held back by a strong bearish hidden div on MACD and other indicators. we are now approaching 50ema again, and this is the FIRST time since september that we DONT have a bearish HD present. (i marked the current setup in blue lines, the previous bearish HDs where marked in green lines, blue lines say no HD present) a try to take 50ema out on the 8h chart might actually succeed this time, and targets should be FE 100 and above on the 4h chart...

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  • #148,316
  • Dec 11, 2008 4:55am Dec 11, 2008 4:55am
When there is high volatility like now I find that my system is too slow to react on the 5 min. and 15 min. time frames. The choice could be to go higher but miss the action or down to the one minute ....no lack of action there...lol... but quite clear trends.

Attached chart almost naked but good enough. Looks easy but u need to be nimble fingered!......Blue: Gann......Gold 8 EMA
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  • #148,317
  • Dec 11, 2008 5:04am Dec 11, 2008 5:04am
i'm guessing we are going to get another bounce @ 137.50?......
then up to 138.20....
then higher?......

dat's it..i'm off to bed.
  • #148,318
  • Dec 11, 2008 5:15am Dec 11, 2008 5:15am
Quoting lilmoe
we might go down from here for a bearish HD on the m5 chart to play out, unless the previous high on the m5 is taken out.

here's something i'd like to share. lately i've been using 2h and 8h TFs... the 8h TF proved a bit powerful when combined with my system.

since september, price couldn't go anywhere above 50ema on the 8h chart. each touch of 50ema was held back by a strong bearish hidden div on MACD and other indicators. we are now approaching 50ema again, and this is the FIRST time since september that we DONT have a bearish HD present....
Interesting - thanks for posting it......this would tie in with the increasing dollar weakness that we're seeing via the Swissy. Here I have completed monthly and daily time lines at the highs and now its testing old support at its 1900 level. If / when this breaks it will help GU and EU to rally.....
Trading Levels with WRBs
  • #148,319
  • Dec 11, 2008 5:21am Dec 11, 2008 5:21am
Quoting Navigator
When there is high volatility like now I find that my system is too slow to react on the 5 min. and 15 min. time frames. The choice could be to go higher but miss the action or down to the one minute ....no lack of action there...lol... but quite clear trends.

Attached chart almost naked but good enough. Looks easy but u need to be nimble fingered!......Blue: Gann......Gold 8 EMA

LOL - come join the select group of us that drill down to the 1 min _ I always do for FO / LO and early NY.....I use either the 13ema or 21 ema as my fastest on this TF, but mostly look at PA around the known levels.....naturally with a little help from Ms Fibonacci et Lucas.....http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #148,320
  • Dec 11, 2008 5:28am Dec 11, 2008 5:28am
My broker friend tells me to short now, and put on 10 lots.

Says this will drop over 200 pips in the next 2 hours.

ps. Every trade he has ever given me gets me at least 150 pips.
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