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

  • #164,421
  • Mar 6, 2009 2:51pm Mar 6, 2009 2:51pm
Quoting OrionsWay
maybe a day late and 70 points shy for a reversal?
are you implying we have a wave 4 up (mini-rally) from here?
  • #164,422
  • Mar 6, 2009 2:55pm Mar 6, 2009 2:55pm
Quoting hadleyma
are you implying we have a wave 4 up (mini-rally) from here?
maybe, if not we are pretty close indeed
"Millionaires don't use astrology, billionaires do"
  • #164,423
  • Mar 6, 2009 3:29pm Mar 6, 2009 3:29pm
interesting pinbar on ES daily....possible sign of big reversal??
  • #164,424
  • Mar 6, 2009 4:08pm Mar 6, 2009 4:08pm
This looks like a bear flag on daily. I dont see much correlation between DOW and GJ for past few days. I believe there should be a massive rally down before a Major UP move. Target is 127xx.

Here is a daily Chart... Comments Welcome. Thanks.
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Markets are not Random, they are designed!
  • #164,425
  • Mar 6, 2009 4:28pm Mar 6, 2009 4:28pm
I wander if gap will be down on sunday?
The Market pays you to be disciplined
  • #164,426
  • Mar 6, 2009 4:42pm Mar 6, 2009 4:42pm
what was that last spike in the YM DJ?
  • #164,427
  • Mar 6, 2009 5:09pm Mar 6, 2009 5:09pm
Quoting OrionsWay
by the looks of it djia is finishing her last leg down wave 3 finishes up aroun 6524
then wave 4 and another 162 retracement expansion from that point

that should finish wave 3 down then massive rally wave 4

I think we will have total markets reversals on march 5th
not sure if we can count this as 5 wave down....
looks like a text book ABC pattern. kind of like the start of geppy's fall from 250 are. we are looking @ the same direction though.

looks like we may see a nice shampoo in a year or 2.
Attached Image (click to enlarge)
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  • #164,428
  • Mar 6, 2009 5:15pm Mar 6, 2009 5:15pm
Quoting mima
I wander if gap will be down on sunday?

What is your reasoning that the geppy will gap down sunday? Just curious
  • #164,429
  • Mar 6, 2009 5:26pm Mar 6, 2009 5:26pm
Quoting hadleyma
What is your reasoning that the geppy will gap down sunday? Just curious

well I didn't say it will gap down though I would prefer...GU has QQE down on H1 and H4 which is not case with UJ. It depends which one will GJ follow... so I just wonder...
The Market pays you to be disciplined
  • #164,430
  • Mar 6, 2009 11:35pm Mar 6, 2009 11:35pm
Quoting Raza
This looks like a bear flag on daily. I dont see much correlation between DOW and GJ for past few days. I believe there should be a massive rally down before a Major UP move. Target is 127xx.

Here is a daily Chart... Comments Welcome. Thanks.
I dont see any flag on daily. I had a possible bear flag on 4hr but it was invalidated after price went up past 78.6 of the flag pole. A flag has to have a FLAG POLE & A POLE HAS TO BE A SHARP DROP OR A SHARP RISE.
  • #164,431
  • Edited Mar 7, 2009 12:08am Mar 6, 2009 11:56pm | Edited Mar 7, 2009 12:08am
Quoting pkimnyc
not sure if we can count this as 5 wave down....
looks like a text book ABC pattern. kind of like the start of geppy's fall from 250 are. we are looking @ the same direction though.

looks like we may see a nice shampoo in a year or 2.
I think you are way of on your wave count. 1-2-3 have already finished this is wave 4 we are in now. it can go as high as 192.41. Also the fundamentals Stochs & MACD are all in alliance with my count. I see the YEN Pairs getting crushed in the near term.
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  • #164,432
  • Mar 7, 2009 1:05am Mar 7, 2009 1:05am
Quoting GreekEagle
I think you are way of on your wave count. 1-2-3 have already finished this is wave 4 we are in now. it can go as high as 192.41. Also the fundamentals Stochs & MACD are all in alliance with my count. I see the YEN Pairs getting crushed in the near term.
the chart i posted was dow.

as for geppy, the initial wave down from 250 area was ABC, not an impulse wave.
so, i think it should be counted as ABC in big picture.
C wave down stared from 216, and only C wave should be counted as impulse wave. i do believe we are in wave 4, but i'm counting this wave 4 within C wave group. if price goes up to 192 then i think it should be something else.

but let's see how it plays out.
  • #164,433
  • Mar 7, 2009 7:47am Mar 7, 2009 7:47am
Quoting pkimnyc
not sure if we can count this as 5 wave down....
looks like a text book ABC pattern. kind of like the start of geppy's fall from 250 are. we are looking @ the same direction though.

looks like we may see a nice shampoo in a year or 2.


yea 3 of 5 of 3 or C

most every pattern is a corrective so yea prolly just a very big flat, zig zag, whatever too early to tell, just know we should rally a bit before final thrust 5/5 and they crush the shorts
"Millionaires don't use astrology, billionaires do"
  • #164,434
  • Mar 7, 2009 11:05am Mar 7, 2009 11:05am
until next weekly wave down starts unfolding, here are 3 charts for the near future:
1. h4, showing fibo retracement levels plotted on last rise: 118.9 - 141.8
2. h4, showing fibo extension levels. i marked with arrows potential tp areas; the check sign is my favorite scenario.
3. h1, showing fibo extension levels on h1 (violet) and h4: nice overlap @ 131.60 and 129 areas. however, for these to happen, we first need to see a break below friday's low (137.25) which would bring 136 into discussion, and then a break below last week's low (135.55) and only then we can talk about 131 and/or 129.
that's it. if this is redundant (lately i didn't have time to read a lot of posts), just ignore it.
enjoy the weekend!
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Nihil Sine Deo.
  • #164,435
  • Mar 7, 2009 11:49am Mar 7, 2009 11:49am
1) been seeing buyers on every dip 4 hour
2) Friday we ended in a doji after a down day the prior day = buyers there again

seems like accumulation to me just under 141 ... just a matter of time before break to upside

upside break has to be impulsive and on high vol to lock traders in so the pros do not have any supply to contend with at top of range (141.5)

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Blogging daily now at www.volume.zone
  • #164,436
  • Edited 12:42pm Mar 7, 2009 12:18pm | Edited 12:42pm
will history repeat again?

time will tell. just looking @ the similarity.
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  • #164,437
  • Mar 7, 2009 12:30pm Mar 7, 2009 12:30pm
I know that this is not GbpJpy, but I like you guys so much .

Here is a nice UsdCad weekly chart showing what? Looks to me like a big time bullish flag. I'm not sure that it is ready to pop yet, might play around here a bit, but who knows.

blue TL's are weeklies.

Enjoy!

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"Keep your eyes on the helpers" - Mr. Rogers
  • #164,438
  • Mar 7, 2009 12:51pm Mar 7, 2009 12:51pm
Hi folks. Any suggestion where to read up on filing US taxes for forex gains ?
  • #164,439
  • Mar 7, 2009 1:19pm Mar 7, 2009 1:19pm
I am seeing the same thing. Either price is going to head up and test the descending weekly trendline or it will head back down to 131 before meeting up with it. Regardless I am seeing 142 area for Monday. I'm definitely not seeing 150 though right now as the chart stands 148 at best and only if it went straight up from here which I don't think it will do.


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Quoting pkimnyc
will history repeat again?

time will tell. just looking @ the similarity.
"Keep your eyes on the helpers" - Mr. Rogers
  • #164,440
  • Mar 7, 2009 1:21pm Mar 7, 2009 1:21pm
It is just regular Income. However, if you have let's say you ended the year with 5000 in losses, you can only claim up to 3000 in losses for any one year. If the next year you had 2000 profit, you subtract your other 2000 that you couln't deduct last year and you would then not have to claim any for the current year.

This is as simple as it gets.

Damon

Quoting pipidiot
Hi folks. Any suggestion where to read up on filing US taxes for forex gains ?
"Keep your eyes on the helpers" - Mr. Rogers
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