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

  • #164,461
  • Mar 7, 2009 8:51pm Mar 7, 2009 8:51pm
Quoting rgitt05
This news may help push the GU and GY down this weekend..

Gap down?

http://www.forexcrunch.com/bad-briti...sks-the-pound/


think this happened overnight ?

news is designed for one thing only ...... to screw with your trades .... I would be buying just based on that article....
Blogging daily now at www.volume.zone
  • #164,462
  • Mar 7, 2009 8:58pm Mar 7, 2009 8:58pm
Quoting malcolmb14
think this happened overnight ?

news is designed for one thing only ...... to screw with your trades .... I would be buying just based on that article....
lol good contrarian indicator.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #164,463
  • Mar 7, 2009 9:11pm Mar 7, 2009 9:11pm
Quoting rgitt05
This news may help push the GU and GY down this weekend..

Gap down?

http://www.forexcrunch.com/bad-briti...sks-the-pound/

Yes, well, I was wondering about that, they just love to make these announcements over the weekend. If it gaps down and continues down, these are my targets.
Attached Image (click to enlarge)
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  • #164,464
  • Mar 7, 2009 9:14pm Mar 7, 2009 9:14pm
Quoting GodfreyH
Yes, well, I was wondering about that, they just love to make these announcements over the weekend. If it gaps down and continues down, these are my targets.
Hi Godfrey,
would you think it would have to have strong volume at this juncture to reach those targets or would it be possible on a low volume move?
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #164,465
  • Mar 7, 2009 9:22pm Mar 7, 2009 9:22pm
Quoting england33
Hi Godfrey,
would you think it would have to have strong volume at this juncture to reach those targets or would it be possible on a low volume move?
It does not require heavy volume for price to collapse (as against rise), or so I've read. Who knows what will happen if panic sets in. I'll just see how the price action looks as it responds to volume or the lack thereof.
  • #164,466
  • Mar 7, 2009 9:25pm Mar 7, 2009 9:25pm
Quoting GodfreyH
It does not require heavy volume for price to collapse (as against rise), or so I've read. Who knows what will happen if panic sets in. I'll just see how the price action looks as it responds to volume or the lack thereof.
makes sense or at least enough to get a prospective.
thanks
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #164,467
  • Mar 7, 2009 10:00pm Mar 7, 2009 10:00pm
Hi Godfrey,

Here is a link that you may want to post your GU analysis.

http://www.forexfactory.com/showpost...0&postcount=43
http://www.forexfactory.com/showpost...5&postcount=47






Quoting GodfreyH
Yes, well, I was wondering about that, they just love to make these announcements over the weekend. If it gaps down and continues down, these are my targets.
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  • #164,468
  • Mar 7, 2009 10:05pm Mar 7, 2009 10:05pm
Based on my 4hr and weekly chart, the 141.50 resistance zone rejected several times indicating a bearish mode is in place for a reversal ..

If the 135.00 support breaks than a new low is set for a big DROP...



IMHO..

Good Luck..

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Click to Enlarge Name: weekly gj.gif Size: 22 KB
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  • #164,469
  • Mar 7, 2009 10:17pm Mar 7, 2009 10:17pm
Quoting rgitt05
Based on my 4hr and weekly chart, the 141.50 resistance zone rejected several times indicating a bearish mode is in place for a reversal ..

If the 135.00 support breaks than a new low is set for a big DROP...



IMHO..

Good Luck..


135 needs to collapse on increasing volume before the collapse .. then see a nice low volume test of 135 form below after the inital breakdown ... with a no demand bar on say a 30 or 15 min just under 135 .. then it collapses .

HOWEVER

do you really think the smart money did not know that llloyds bank was going to be nationalized ? do you really think this has just happened this afternoon .. when bill called Fred and said hey lets nationalize Lloyds bank ....

sure there maybe some panic selling on GU , but i am very much looking forward to see if there is any professional buying into that ....
Blogging daily now at www.volume.zone
  • #164,470
  • Mar 7, 2009 10:25pm Mar 7, 2009 10:25pm
Quoting rgitt05
This news may help push the GU and GY down this weekend..

Gap down?

http://www.forexcrunch.com/bad-briti...sks-the-pound/

thanks for the info bro.
  • #164,471
  • Mar 7, 2009 10:26pm Mar 7, 2009 10:26pm
Based on my 4hr chart, 141.50 resistance is holding.

The bad news released over the weekend about GU may put the bears back to test the lows again..

However, the H & S formation looks set for playout for retracement up to 50% in the 165-170 area.



Place your bets..

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  • #164,472
  • Mar 7, 2009 10:38pm Mar 7, 2009 10:38pm
Your welcome pkimnyc..

Enjoying your charts..



Quoting pkimnyc
thanks for the info bro.
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  • #164,473
  • Mar 7, 2009 10:48pm Mar 7, 2009 10:48pm
If the PA volume increase near the 135.00 support than maybe it is time to let go the married long swing..



Quoting malcolmb14
135 needs to collapse on increasing volume before the collapse .. then see a nice low volume test of 135 form below after the inital breakdown...
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  • #164,474
  • Mar 7, 2009 10:58pm Mar 7, 2009 10:58pm
Weekly chart is painting a clear picture that the bearish trend may not be over yet...

Wait and see...

Attached Image (click to enlarge)
Click to Enlarge Name: weekly gj a.gif Size: 28 KB
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  • #164,475
  • Mar 7, 2009 11:03pm Mar 7, 2009 11:03pm
http://www.bloomberg.com/apps/news?p...KPg&refer=home

This bank is rubbish...

LOL..




Quoting malcolmb14
135 needs to collapse on increasing volume before the collapse .. then see a nice low volume test of 135 form below after the inital breakdown...
[
  • #164,476
  • Mar 7, 2009 11:26pm Mar 7, 2009 11:26pm
Quoting rgitt05
If the PA volume increase near the 135.00 support than maybe it is time to let go the married long swing..

me married to a trade ... that would be the day .... I do anything from 5 to 30 trades a day both sides of the market .... Friday was just 2 trades .. 200 up and 200 down.....

I am just saying what I see on the charts , so far every trip ti 136 has been bought on higher volume on the up moves in the channel than on the down moves. ... lets see worst NFP in 60 years ... market tanks and GJ not even come near 135 .....

news is designed for one thing only .... to mess with your trades.

we may even stays in this 600 pip range from 141 to 135ish for some time to come ...

I was just saying if the news is bad for GBP then we may see panic selling and from what I am seeing on gu chart pros have been buying every dip last few days .... think they did not already know about the Lloyds news ? News is designed to mess with us .....to mess with our minds and confuse us
Blogging daily now at www.volume.zone
  • #164,477
  • Mar 7, 2009 11:29pm Mar 7, 2009 11:29pm
Quoting rgitt05
http://www.bloomberg.com/apps/news?p...KPg&refer=home

This bank is rubbish...

LOL..


maybe ... but i do not listen to news for one reason ..... it is all fabricated BS and the pros will use it to thier advantage one way or the other .

Is the USD any better than the GBP in reality ? US is 75 trillion in debt and can barely keep up with interest payments to countries like Russia , Iran , China and the likes...

all we can do is trade what we see on the charts
Blogging daily now at www.volume.zone
  • #164,478
  • Mar 7, 2009 11:56pm Mar 7, 2009 11:56pm
I did not direct the advice to you but to the newbies..I know you are a scalper and intraday trader..

You are right about the BS news because everytime bad news is released the PA goes up higher.. I might trade my chart upside down..




Quoting malcolmb14
maybe ... but i do not listen to news for one reason ..... it is all fabricated BS and the pros will use it to thier advantage one way or the other .

Is the USD any better than the GBP in reality ? US is 75 trillion in debt and can barely keep up with interest payments to countries like Russia , Iran , China and the likes...

all we can do is trade what we see on the charts
[
  • #164,479
  • Mar 7, 2009 11:56pm Mar 7, 2009 11:56pm
hi guys....just my personal preview at h4 chart.
View market this week still play in range correction...where market moving at (135.xx 144.xx) position correction large for trial to Fibo 23.6% (144.59).However even this movement would be confined consideration its price breakout diagonal support... 135.13 trends correction no valid more..
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  • #164,480
  • Mar 8, 2009 7:48am Mar 8, 2009 7:48am
The 141.50 resistance zone held since Dec. '08 and PA made several attempts to break but failed.

The GJ overall trend is bearish and the CCI crossed -100 level.

The fundamental point of the GU news may put pressure for the GJ to go furthur down if the 135.00 support zone is breaks.

GU technically looks bearish

http://www.forexfactory.com/showpost...stcount=125448

Fundamental:

http://www.forexcrunch.com/bad-briti...sks-the-pound/

http://www.bloomberg.com/apps/news?p...KPg&refer=home


Now Malcolmb14 mentioned that the news maybe BS to shake off the weak longs but I see Gold rebound from the support levels.

On fundamental point of view, the global financial crisis show no sign of recovery yet . US stocks market keep falling, sending the Dow Jones Industrial Average to the lowest since 1997 as the recession has deepened and jobless rate hits 25 years high.

You be the judge!!

Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 4hr gu a.gif Size: 39 KB
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