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

  • #159,341
  • Feb 10, 2009 6:25pm Feb 10, 2009 6:25pm
Quoting quecee5
like having a second set of eyes - heh?
lol, but can be addictive as well

sometimes i feel like FF junkie
  • #159,342
  • Feb 10, 2009 6:35pm Feb 10, 2009 6:35pm
What happened to my EU today? whipsawed me big time
  • #159,343
  • Feb 10, 2009 6:38pm Feb 10, 2009 6:38pm
Quoting quecee5
Agreed - however if price makes a 4hr close above 4hr 55 ema we could see it touch 135 area (daily 5SMA) before heading down further. This assumes that price gets above the 4hr sma. But you are correct there is a lot of resistance up top that will need to be taken out before this happens. ..

The fact that price is trading below 1hr/4hr gann hi/lo gives more reason to sell rallies on any retrace failing at support now turned resistance. . .

Quecee, your the man! I'm liking that notion too on both aspects.
I dream, therefore I become.
  • #159,344
  • Feb 10, 2009 6:40pm Feb 10, 2009 6:40pm
heh mike whats good bro - long to no hear? hope all is well!
  • #159,345
  • Feb 10, 2009 6:41pm Feb 10, 2009 6:41pm
15 min hidden cci divergence on 4hr 50 ema. Cable.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 22 KB
  • #159,346
  • Feb 10, 2009 6:44pm Feb 10, 2009 6:44pm
here we go again.....
--post hoc ergo propter hoc--
  • #159,347
  • Feb 10, 2009 6:48pm Feb 10, 2009 6:48pm
Quoting vinesh2
What happened to my EU today? whipsawed me big time
Yeah sometimes it can be a little jerky - lol! but selling for all pair was forthcoming it was just a matter of timing for all of them. the outlook in the gloabl economy is rather bleek and the rally was mere BS IMO!

smart money sold into these rallies big time and now they are collecting dividends while many were hoping for futher price increase. . .

Funny how this works huh. . .

Mike W had a great analysis drilling down the charts from weekly down to 4hr. The fact that many pairs had reached there weekly resistance (soild) was a signal that price would sson take a down turn.

hope all is well bro - keep at it.

50% of trading forex is market sentiments and the other 50% is BS! So all we have is our charts to go by - LET THE DATA SPEAK TO U!


  • #159,348
  • Feb 10, 2009 6:56pm Feb 10, 2009 6:56pm
Just grabbed some GBP/USD on this drop at 1.4474... there's still more retracing to be done here in both Geppy and GBP/USD. We're just seeing the larger time frames (1 hour +) align and consolidate the retracements of the shorter ones.

Edit: Targeting 1.4595 for those longs although I think we'll see higher, just a nice small scalp.
  • #159,349
  • Feb 10, 2009 7:05pm Feb 10, 2009 7:05pm
i won't be longing this pair until I see solid support. . . looking to sell rallies on any signs of failure because the pair has breach major supportf or a contimuation to the upside at this point - IMO! Best to step aside and the let the charts work out themselves. . .

although I am short EU at the moment - looks very bearish. . . looking for other set-ups as well. . .
  • #159,350
  • Feb 10, 2009 7:09pm Feb 10, 2009 7:09pm
I was actually buying EUR/USD near the lows today. It hasn't followed cable and I think it's long-term bullish. And I mean long-term, I'm taking these positions and tucking them under the mattress at least until 1.4000

Maybe you're playing it more short-term.
  • #159,351
  • Feb 10, 2009 7:11pm Feb 10, 2009 7:11pm
Quoting shelby
Thank you.
This is exactly my point. Trade a pair like G/U for a few months or an year. or the E/U. or is it ok just to start with G/J and focus on the "beast" how you guys like to call her/him lol
You mentioned earlier about how 20-30 pip stops are too close for this pair. Money Management allows you to triple the stop value if you 1/3 your position size. Take the long slow approach. The pips will always be there but your bankroll won't if you try to trade when your not ready.
Without a trade plan, say bye bye to your account & hello to frustration.
  • #159,352
  • Feb 10, 2009 7:14pm Feb 10, 2009 7:14pm
Quoting PracticalPip
I was actually buying EUR/USD near the lows today. It hasn't followed cable and I think it's long-term bullish. And I mean long-term, I'm taking these positions and tucking them under the mattress at least until 1.4000

Maybe you're playing it more short-term.
yes, i'm looking for a test of support ar'd the 1.2780/40 area. if it holds then yes long is the way to go for a test back to the upside. however, price was rejected from the 1.30/31 area which indicates that a test of support is forthcoming. . . If price breaks that area then we may see 1.23 sooner rather than later. . .

only time will tell. . .
  • #159,353
  • Feb 10, 2009 7:26pm Feb 10, 2009 7:26pm
remember Asia is on holiday so we could see some extreme moves in this session until london gets in later 2night. . .
  • #159,354
  • Feb 10, 2009 7:26pm Feb 10, 2009 7:26pm
geez, euro yen seems to be the mover tonight . . . geppy pissing around
"Don't trade to trade . . . trade to win." - James16
  • #159,355
  • Feb 10, 2009 7:53pm Feb 10, 2009 7:53pm
Higher low seems to be in, for now. I may begin shorting in the 132s, but DOW shed almost 5% today, and it may have been a big overreaction, thus we may see a partial recovery from that. Considering GJ follows it we could see this go higher.
  • #159,356
  • Feb 10, 2009 7:54pm Feb 10, 2009 7:54pm
This is what would be cousing the BIG DROP:


China Needs U.S. Guarantees for Treasury Bond

http://www.bloomberg.com/apps/news?p...J_A&refer=asia
  • #159,357
  • Feb 10, 2009 7:55pm Feb 10, 2009 7:55pm
price has a lot of wood to chop to get there - but possible!
  • #159,358
  • Feb 10, 2009 8:04pm Feb 10, 2009 8:04pm
anyone know where Tibor and Libor rates can be found on the web?

thanks in advance for your response. . .
  • #159,359
  • Feb 10, 2009 8:08pm Feb 10, 2009 8:08pm
Quoting quecee5
anyone know where Tibor and Libor rates can be found on the web?

thanks in advance for your response. . .
World Libor rates
http://www.economagic.com/libor.htm#US
Without a trade plan, say bye bye to your account & hello to frustration.
  • #159,360
  • Feb 10, 2009 8:09pm Feb 10, 2009 8:09pm
Quoting quecee5
anyone know where Tibor and Libor rates can be found on the web?

thanks in advance for your response. . .
http://www.cnbc.com/id/26905693
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