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

  • #164,621
  • Mar 9, 2009 5:53am Mar 9, 2009 5:53am
Quoting forexlion
If GJ breaks 138.22 then possibility of hard tank to 135.50 is there as per daily.

This correction is required before we continue north.
well there she goes
  • #164,622
  • Mar 9, 2009 6:10am Mar 9, 2009 6:10am
As much I want to see a Drop and 130 or 127 level on GY.. and also I dont want to spoil any BEAR party.. but Im just pulling out this daily chart.. for all of you...Even we break the wedge [4h] we are still in NO-ONE LAND..

 

  1. we have to clear Daily Gann [136.60]
  2. we have to clear Daily 50 ema [136.16]
  3. we have to make a gooooood breakout of that Daily TL
  4. we have to break that Support line @ 135.50 and then....
  5. we are playing double top formation, with broken NL [135.50] with possible targets @ fibo 50, and fibo 61.8

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  • #164,623
  • Mar 9, 2009 6:15am Mar 9, 2009 6:15am
Quoting Piters
As much I want to see a Drop and 130 or 127 level on GY.. and also I dont want to spoil any BEAR party.. but Im just pulling out this daily chart.. for all of you...Even we break the wedge [4h] we are still in NO-ONE LAND..

  1. we have to clear Daily Gann [136.60]
  2. we have to clear Daily 50 ema [136.16]
  3. we have to make a gooooood breakout of that Daily TL
  4. we have to break that Support line @ 135.50 and then....
  5. we are playing double top formation, with broken NL [135.50] with possible targets @ fibo 50, and fibo 61.8

exatamundo ....baby...trend is still long...until it breaks...simpools...baby
  • #164,624
  • Mar 9, 2009 6:18am Mar 9, 2009 6:18am
Quoting Piters
As much I want to see a Drop and 130 or 127 level on GY..
Is such a drop likely with Yen weakness the way it is ?

Lately you compare GU to GY and GY just doesnt move the way i expect in comparison ...
  • #164,625
  • Mar 9, 2009 6:28am Mar 9, 2009 6:28am
Quoting pipmyride
Is such a drop likely with Yen weakness the way it is ?

Lately you compare GU to GY and GY just doesnt move the way i expect in comparison ...
the drop is in all GBP pairs.. all day from late tokyo session GBP became the weakest currency accross the board.. we had 2 waves of drops, one in Moscow/Franfurt session, and the second one in ealry London... Untill London all currencies were more or less the same level, but with London session open, USD is the strongest one, and GBP is the weakest one.. as I can see GBP broke the 1.4000 level and coused even greater drop....

Now with GY we are facing some Support levels, first @ 137.20 as a double bottom, Daily, Daily TL, but also DS1...
we need to clear that before we contionue.. BUt from my perspective the best we can have for now, before a some decent retrace {Fibo 50} is the level 136.60 where the Daily Gann is.. maybe a some push even deeper to touch Daily EMA 50... but that it is...

Then Retrace,,, big, nice,, and then it is up to the NYSE markets.. we see how YM, ES, DOW,, are setup...

This is only my perspective, but I stick my head in my monitors and the highest TF im seeing is 15 min only for trend direction,, scalping all day..


cheers
  • #164,626
  • Mar 9, 2009 6:33am Mar 9, 2009 6:33am
Quoting Piters
As much I want to see a Drop and 130 or 127 level on GY.. and also I dont want to spoil any BEAR party.. but Im just pulling out this daily chart.. for all of you...Even we break the wedge [4h] we are still in NO-ONE LAND..

  1. we have to clear Daily Gann [136.60]
  2. we have to clear Daily 50 ema [136.16]
  3. we have to make a gooooood breakout of that Daily TL
  4. we have to break that Support line @ 135.50 and then....
  5. we are playing double top formation, with broken NL [135.50] with possible targets @ fibo 50, and fibo 61.8

That Daily LTL has been met with professional buyer each time it is smacked. Would want to see a good close below before any short trades.
{Some Profound Statement goes here}
  • #164,627
  • Mar 9, 2009 6:39am Mar 9, 2009 6:39am
Quoting Big Bruv
exatamundo ....baby...trend is still long...until it breaks...simpools...baby
Short term trend long. Long term trend is short.
Attached Image (click to enlarge)
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Probability Professor
  • #164,628
  • Edited 7:15am Mar 9, 2009 6:41am | Edited 7:15am
Quoting bpatto
That Daily LTL has been met with professional buyer each time it is smacked. Would want to see a good close below before any short trades.
Exactly the POINT i want to make here.. even I posted today in Tokyo session, that Im not expecting TL to be broken in tokyo or Dubai/moscow opens.. that trendline been tested in Full 2 NY and 2 London sessions, with full power and volume (pro guys), and still is there... Unless.... we are in some deep S*** with DOW today,, and B/c we are sooo close... we may see a breakout...

From the other hand.. the TOP looks TOPPY even on Daily now... it is now quite Double Top, but it is a Topping formation... so.. let's play..

  • #164,629
  • Mar 9, 2009 6:44am Mar 9, 2009 6:44am
Quoting Galation
Short term trend long. Long term trend is short.
Short term - Trend is short and long term trend is long, just check your weekly and monthly MACD.
  • #164,630
  • Mar 9, 2009 6:48am Mar 9, 2009 6:48am
Quoting Piters
Now with GY we are facing some Support levels, first @ 137.20 as a double bottom, Daily, Daily TL, but also DS1...

cheers
Testing it now ....
  • #164,631
  • Mar 9, 2009 6:50am Mar 9, 2009 6:50am
Quoting Galation
Short term trend long. Long term trend is short.
yes dats wot i meant also..baby
...the long term as in 12 months or more is deffo short...medium term is long..and short term is ..er...well...crazy...baby

i'm long until baby hits a major reversal point...
  • #164,632
  • Mar 9, 2009 7:13am Mar 9, 2009 7:13am
Quoting PandoraBox
Short term - Trend is short and long term trend is long, just check your weekly and monthly MACD.
I don't use the moving average convergence divergence, I just use price action and candle sticks.
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Probability Professor
  • #164,633
  • Mar 9, 2009 7:28am Mar 9, 2009 7:28am
Quoting PandoraBox
Short term - Trend is short and long term trend is long, just check your weekly and monthly MACD.
buddy , good analysis

here is the chart, and the bulls are gonna be pissed out soon.

135.80
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  • #164,634
  • Mar 9, 2009 7:28am Mar 9, 2009 7:28am
Quoting Galation
I don't use the moving average convergence divergence, I just use price action and candle sticks.

Your are using Candlestick...so you will see Bullish Engulfing Candle at Monthly chart.
  • #164,635
  • Mar 9, 2009 7:39am Mar 9, 2009 7:39am
Gbp/Chf is actually a better play imvho, as Malcolm mentioned.
Patience + Humility + Study = Success
  • #164,636
  • Mar 9, 2009 7:41am Mar 9, 2009 7:41am
Quoting DutchTrader
Gbp/Chf is actually a better play imvho, as Malcolm mentioned.
yeah but even there, USDCHF is rising, maybe not as much as UJ but it's still being unco-operative.
  • #164,637
  • Mar 9, 2009 7:42am Mar 9, 2009 7:42am
Quoting forexlion
buddy , good analysis

here is the chart, and the bulls are gonna be pissed out soon.

135.80
Hi FXlion

whats you bias at that level?
  • #164,638
  • Mar 9, 2009 7:45am Mar 9, 2009 7:45am
oh boy ... moved much more than i expected and closed to early
  • #164,639
  • Mar 9, 2009 7:50am Mar 9, 2009 7:50am
Hey Piters. To the pip virtually 136.12 as you said.
  • #164,640
  • Mar 9, 2009 7:50am Mar 9, 2009 7:50am
Quoting Eulogy
Hi FXlion

whats you bias at that level?
monthly fib
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