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

  • #158,721
  • Feb 7, 2009 11:37pm Feb 7, 2009 11:37pm
This two pair need to be consider too. If this two pair has reach the roof GJ can be effected.
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  • #158,722
  • Feb 7, 2009 11:38pm Feb 7, 2009 11:38pm
Quoting pkimnyc
call me crazy.... but this is also a possible scenario.
bearish hd cooking on weekly chart with price might be heading to 167.40.
nice confluence of 61 fib (from 197.5 - 119) and 50 fib (from 216 - 119)
50 ema will be around that area as well with 165.80 price pivot zone (if we move that high). macd histogram above 0 line.
Sounds kind of radical right now, PK. But anything is possible.

  • #158,723
  • Feb 7, 2009 11:41pm Feb 7, 2009 11:41pm
Quoting Pips_Cruiser
Sounds kind of radical right now, PK. But anything is possible.

yes, i think so too. lol
  • #158,724
  • Feb 7, 2009 11:43pm Feb 7, 2009 11:43pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Don't mind me. I guess I come to the table with naive idea's. Such as identifying highly probable patterns. Identifying what happens in those patterns and filtering...no indicators obviously....do such "patterns" exist?

Anyways, I'm on a quest similair to yours. Sounds like you're doing well. I want to do better...lol. When I think about trading, I think if I had $10 mil under management how would I trade it, where would I trade it, how would I try to make the most of it, etc...(I"m sure you get the point).

Anyways, wish you the best. You once told me great advice when I was reallly a newb about momentum indicator. I remember. Kudos to you for alwats trying to help w/o asking anything in return.
"Wishful thinking dies hard." Igor T.
  • #158,725
  • Feb 7, 2009 11:49pm Feb 7, 2009 11:49pm
Quoting FxChi
Don't mind me. I guess I come to the table with naive idea's. Such as identifying highly probable patterns. Identifying what happens in those patterns and filtering...no indicators obviously....do such "patterns" exist?

Anyways, I'm on a quest similair to yours. Sounds like you're doing well. I want to do better...lol. When I think about trading, I think if I had $10 mil under management how would I trade it, where would I trade it, how would I try to make the most of it, etc...(I"m sure you get the point).

Anyways, wish you the best. You...
Thanks for the visit . . .

  • #158,726
  • Feb 7, 2009 11:52pm Feb 7, 2009 11:52pm
Trend reverse or not?
Been watching this thread for a while. Learning how you guys trade this "beast".

One "out-of-the-box" (fundamentals-type) comment I thought I would throw in the pot here:

- can the outlook/expectations get much worse for the U.K.? Is it all in price already (has the worst possible scenario been discounted already)?

I'm thinking of Soros' comment Jan 28 on the risk/reward on Sterling as unclear below 1.40. He has a formidably good feel for Sterling. Said (obviously) he's no longer bearish Sterling: "But that doesn't mean I am bullish either. It will just fluctuate around here for some time.

Just something to think about from a sentiment (qua COT) type of perspective.

My take: possible start of complex bottoming process/range (esp. as circa 138-141.40 look really tough to take out yet).

Regards to everyone.
  • #158,727
  • Feb 7, 2009 11:53pm Feb 7, 2009 11:53pm
See that big/wide range daily candle down Oct 24.

That low 139 seems important = big resistance.
  • #158,728
  • Feb 7, 2009 11:57pm Feb 7, 2009 11:57pm
Quoting pkimnyc
yes, i think so too. lol
I am waiting for that to happen/ I had that saved on my daily since price dropped to 119xx.. major FIB confluence/ all possible inverted H/S should take the price there this year/ what happens after ... No idea??.. but lets not get too far...I think one more push to the downside should happen to shake out all longs...this week or next.. than some ranging days... well I am long from 118.90.. not a pip wasted..well may be one..
Markets are not Random, they are designed!
  • #158,729
  • Feb 7, 2009 11:59pm Feb 7, 2009 11:59pm
Quoting Raza
I am waiting for that to happen/ I had that saved on my daily since price dropped to 119xx.. major FIB confluence/ all possible inverted H/S should take the price there this year/ what happens after ... No idea??.. but lets not get too far...I think one more push to the downside should happen to shake out all longs...this week or next.. than some ranging days... well I am long from 118.90.. not a pip wasted..well may be one..
wow, nice trade bro.
  • #158,730
  • Feb 8, 2009 12:01am Feb 8, 2009 12:01am
quote=pkimnyc;2523480]wow, nice trade bro. [/quote]

Thanks PK
Markets are not Random, they are designed!
  • #158,731
  • Feb 8, 2009 12:07am Feb 8, 2009 12:07am
Quoting Mr.Sabah
This two pair need to be consider too. If this two pair has reach the roof GJ can be effected.
For sure. In fact, if they've both hit the ceiling then GJ has too. At least one will have to break through.
  • #158,732
  • Feb 8, 2009 12:11am Feb 8, 2009 12:11am
Notice that the 2nd large move down is double the percentage of the first move down in overall price % change.
Notice 1st major retrace is 12%, .382 fib

GET THIS: If 2nd large move down is double the percentage of the first..
what happed when I drew a double retrace of 24%..
Bingo! .382 fib!

keep in mind this is price percentage to fibb percentage comparason. I didn't realize the connection, wow!
*notice all three fibs have the same .382 retrace..
what does it all mean? Were in a retrace to 148.50 till next drop, I am as sure as I can be.

http://g.imagehost.org/0806/wow2.jpg
now fork over the wizdom vouchers, lol.
  • #158,733
  • Feb 8, 2009 12:13am Feb 8, 2009 12:13am
Quoting Petefaders
Notice that the 2nd large move down is double the percentage of the first move down in overall price % change.
Notice 1st major retrace is 12%, .382 fib

GET THIS: If 2nd large move down is double the percentage of the first..
what happed when I drew a double retrace of 24%..
Bingo! .382 fib!

keep in mind this is price percentage to fibb percentage comparason. I didn't realize the connection, wow!
*notice...
That is my first TP target.. thanks for your input.
Markets are not Random, they are designed!
  • #158,734
  • Feb 8, 2009 12:15am Feb 8, 2009 12:15am
Quoting bit9ret
See that big/wide range daily candle down Oct 24.

That low 139 seems important = big resistance.
Oh yeah . . . let's not forget 139. Add another area of resistance to the list. Break last week's high, then break through the weekly Gann, then 139. It's starting to sound like work.

  • #158,735
  • Feb 8, 2009 12:21am Feb 8, 2009 12:21am
Quoting Pips_Cruiser
Oh yeah . . . let's not forget 139. Add another area of resistance to the list. Break last week's high, then break through the weekly Gann, then 139. It's starting to sound like work.

The thing thats bothering me is when price will reach 139xx 140xx area, though it will look like an inverted head and shoulder in play.. but.. at the same time it is also a huge DOUBLE TOP / that can take this thing down to almost 2 Digits..anybody noticed that?/:nerd:
Markets are not Random, they are designed!
  • #158,736
  • Feb 8, 2009 12:33am Feb 8, 2009 12:33am
Quoting Raza
The thing thats bothering me is when price will reach 139xx 140xx area, though it will look like an inverted head and shoulder in play.. but.. at the same time it is also a huge DOUBLE TOP / that can take this thing down to almost 2 Digits..anybody noticed that?/:nerd:
yep
  • #158,737
  • Feb 8, 2009 12:36am Feb 8, 2009 12:36am
Quoting Raza
The thing thats bothering me is when price will reach 139xx 140xx area, though it will look like an inverted head and shoulder in play.. but.. at the same time it is also a huge DOUBLE TOP / that can take this thing down to almost 2 Digits..anybody noticed that?/:nerd:
Yes. I suspect the double top will come into play next week.
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  • #158,738
  • Feb 8, 2009 12:38am Feb 8, 2009 12:38am
picking tops are we?
I learned (the hard way) to go with the trend/move untill there is a real reason on my chart that is in play. ..even on a retrace.
You could be right, but to me chances of continuation are always higher untill a reason presents itself with played out price.
  • #158,739
  • Feb 8, 2009 12:43am Feb 8, 2009 12:43am
Quoting Petefaders
picking tops are we?
I learned (the hard way) to go with the trend/move untill there is a real reason on my chart that is in play. ..even on a retrace.
You could be right, but to me chances of continuation are always higher untill a reason presents itself with played out price.
Good point! It's easy to get carried away during weekend analysis.

  • #158,740
  • Feb 8, 2009 12:44am Feb 8, 2009 12:44am
Quoting Petefaders
picking tops are we?
I learned (the hard way) to go with the trend/move untill there is a real reason on my chart that is in play. ..even on a retrace.
You could be right, but to me chances of continuation are always higher untill a reason presents itself with played out price.
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