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

  • #162,761
  • Feb 27, 2009 8:02am Feb 27, 2009 8:02am
Quoting OrionsWay
TP 139-141

if large ABC on 15m could be targeting 149 easily enough

volume seems climactic

this POP lower was right inbetween 1.144 and 1.270 retracement expansion

BUY ZONE decision point for ABC's

mate, I am looking at your chart, and there is a big chance we close today @ daily ema = 135.41
  • #162,762
  • Feb 27, 2009 8:02am Feb 27, 2009 8:02am
Quoting forexlion
if there is a rate cut, the currency gains strength, so GJ and GU will shoot into the sky.

In the event of a rate hike the currency looses strength.

2006-2007 2e saw rate hikes in usd and usd fell badly, sending eu and gu sky high

in 2008 we saw rate cuts and usd gained strength sending GU and EU crashing.
the opposite is correct
and one of the benefits of rate hikes is to actually increase currency strength to fight inflation and vice versa.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #162,763
  • Feb 27, 2009 8:03am Feb 27, 2009 8:03am
Quoting forexlearner
One regret was not to sell when it was so obvious!

So I hope I don't regret another time.

This time its gonna dive. This baby is goin to see its lowest lowest level ever!

WE ARE IN A SERIOUS ECONOMY RECESSION

just follow the order flow, marying your thoughts is futile, seriously

i dont think we are going any lower anytime soon
"Millionaires don't use astrology, billionaires do"
  • #162,764
  • Feb 27, 2009 8:04am Feb 27, 2009 8:04am
Quoting Piters
mate, I am looking at your chart, and there is a big chance we close today @ daily ema = 135.41

P never can tell, but i really dont think so
"Millionaires don't use astrology, billionaires do"
  • #162,765
  • Feb 27, 2009 8:05am Feb 27, 2009 8:05am
Quoting OrionsWay
i dont think we are going any lower anytime soon
Yeh the H1 just closed with a massive pin bar with tail on rising TL .. but how high a retrace will sentiment take it (for now) ..
  • #162,766
  • Feb 27, 2009 8:07am Feb 27, 2009 8:07am
Quoting salah k.
the opposite is correct
and one of the benefits of rate hikes is to actually increase currency strength to fight inflation and vice versa.
so during 2006-2007 fed rate hike period why did usd loose ground, the economic crises sufaced only in december 2007.

and gain strength during 2008, on rate cuts.

why the opposite reaction.

again during jan 2009 rate cut in gbp, why did the gbp pairs shoot into the sky?
  • #162,767
  • Feb 27, 2009 8:08am Feb 27, 2009 8:08am
Quoting OrionsWay
P never can tell, but i really dont think so
lol, noone knows.. we trade what is on a plate !!
  • #162,768
  • Feb 27, 2009 8:09am Feb 27, 2009 8:09am
Quoting salah k.
the opposite is correct
and one of the benefits of rate hikes is to actually increase currency strength to fight inflation and vice versa.
That has always been the prevailing wisdom, but not anymore. For proof just look at what both the USD and GBP have done following rate cuts this past year.
  • #162,769
  • Feb 27, 2009 8:10am Feb 27, 2009 8:10am
Quoting OrionsWay
just follow the order flow, marying your thoughts is futile, seriously

i dont think we are going any lower anytime soon
let the poor guy live, who suspended him ??
  • #162,770
  • Feb 27, 2009 8:15am Feb 27, 2009 8:15am
I think hell was the best place to be in , maybe I should try to go back to 136.80

or maybe not.
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  • #162,771
  • Feb 27, 2009 8:21am Feb 27, 2009 8:21am
Quoting arezab
This seemed like a stop hunting to take out weak longs with stop right below 137.70

Look at the 15M vol ... it looks like a stopping volume.
As I said this was a nice test to trap shorts. Look at 30M candle and the volume. It's definitely a stopping volume.

Now if price manages to stay above 137.70 we will see another rally ... 139.90 and if breached then may be a triple top at 141.50 - 60 area.

I'll go short only on a decisive H1 close below 137.70 but it's just me ... so just trading the chart ... everything is possible in this market.
Discipline + Patience - Fear - Greed = Success
  • #162,772
  • Feb 27, 2009 8:24am Feb 27, 2009 8:24am
Quoting arezab
As I said this was a nice test to trap shorts. Look at 30M candle and the volume. It's definitely a stopping volume.

Now if price manages to stay above 137.70 we will see another rally ... 139.90 and if breached then may be a triple top at 141.50 - 60 area.

I'll go short only on a decisive H1 close below 137.70 but it's just me ... so just trading the chart ... everything is possible in this market.
Good thinking, your comments are always excellent quality, I love them.
  • #162,773
  • Feb 27, 2009 8:27am Feb 27, 2009 8:27am
Quoting forexlion
Good thinking, your comments are always excellent quality, I love them.
Thanks bro
Discipline + Patience - Fear - Greed = Success
  • #162,774
  • Feb 27, 2009 8:28am Feb 27, 2009 8:28am
euro and cable still cheap buys atm

also long euro at 2626 for a 3 day rally
"Millionaires don't use astrology, billionaires do"
  • #162,775
  • Feb 27, 2009 8:40am Feb 27, 2009 8:40am
Lol 138.38 buy London hit my SL..aiseh..lost 50 pips
Anyway am buying TP @ 1st destination
Second will see either she going to 138.88 or not..
Then set sell limit @ 139 and TP=135.50 together with my short in [email protected]

anyway trend will see strong bearish and seems early Jan 09 trend..
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  • #162,776
  • Feb 27, 2009 9:03am Feb 27, 2009 9:03am
Quoting OrionsWay
euro and cable still cheap buys atm

also long euro at 2626 for a 3 day rally
... I'm with you in that one It's almost 2 weeks I'm waiting for it. If I see true signs of bulls coming into play, I'll be long first targeting 1.3300 area ... Very heavy ... over leveraged.

Right now I'm long cable off 1.4130 sl at b/e, let's see what happens. Fridays can be very bullish after a sharp bounce up. They may drive this thing up (GJ) to 141.50 this very day before market closes.

So as long as we remain above 137.70 with GJ, buying dips is the way to go for me.
Discipline + Patience - Fear - Greed = Success
  • #162,777
  • Feb 27, 2009 9:12am Feb 27, 2009 9:12am
Quoting arezab
... I'm with you in that one It's almost 2 weeks I'm waiting for it. If I see true signs of bulls coming into play, I'll be long first targeting 1.3300 area ... Very heavy ... over leveraged.

Right now I'm long cable off 1.4130 sl at b/e, let's see what happens. Fridays can be very bullish after a sharp bounce up. They may drive this thing up (GJ) to 141.50 this very day before market closes.

So as long as we remain above 137.70 with GJ, buying dips is the way to go for me.
nice going Arez knowing when to buy weakness and sell strength is an ART
"Millionaires don't use astrology, billionaires do"
  • #162,778
  • Feb 27, 2009 9:13am Feb 27, 2009 9:13am
Looks like GJ will close this weekly "extremely" bullish again. On the monthly chart, the pinbar also played out very nicely. A low of 125.28 to a high 141.73 for 1600+ pips. I want to reiterate that last week UJ also closed the weekly candle very similar to what GJ will close this week. We all saw what UJ did this week. Again, next week buy dips and bank lots of pips. If you're going to short, wait until GJ makes new high at strong resistance and short for the retracement.
  • #162,779
  • Feb 27, 2009 9:19am Feb 27, 2009 9:19am
good res on aqua strong sup yellow


the resistnace will let go though
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"Millionaires don't use astrology, billionaires do"
  • #162,780
  • Feb 27, 2009 9:19am Feb 27, 2009 9:19am
Quoting toyboy tramp
Spot on Q, good to see you firing on all cylinders
thxs bro. . .
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