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

  • #164,661
  • Edited 9:25am Mar 9, 2009 9:15am | Edited 9:25am
Quoting quecee5
what I'm seeing is 135.50 and possibly lower will be tested before gj sees 141 and higher. . . GU is on course to see 1.3550 area as 1.40 area should present resistance for that pair this week - GJ to follow. also UJ has one more run to the topside @ 100.40 area then down it goes to test lower support this week at possibly 94 area - right now it looks to be a bit toppy!

we should have good range trading this week on gj and other pairs. . .
I'm currently long off of 136.19 to test upper resistance at 137.60/70 area before another run to the downside...
I may seen 137.90 to be taken out first before think for this 135.50...What do you think
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  • #164,662
  • Mar 9, 2009 9:15am Mar 9, 2009 9:15am
whats with this sudden rally in the DJ? futures jumped almost 150 points when the DJ opened
  • #164,663
  • Mar 9, 2009 9:18am Mar 9, 2009 9:18am
Quoting grashid
I may seen 137.90 to be taken out first before think for this 135.50...What do you think
Lots of resistance up above - however if 137 holds as support short-term the daily pivot could be targeted once again. . .

I look for 137.60 area to be tested short-term and maybe a spike up to DP @ 138.30/60 to take out weak shorts before lower support is tested.

Daily chart looking very bearish but 1hr is showing bullish divergence atm.
  • #164,664
  • Mar 9, 2009 9:21am Mar 9, 2009 9:21am
Quoting quecee5
what I'm seeing is 135.50 and possibly lower will be tested before gj sees 141 and higher. . . GU is on course to see 1.3550 area as 1.40 area should present resistance for that pair this week - GJ to follow. also UJ has one more run to the topside @ 100.40 area then down it goes to test lower support this week at possibly 94 area - right now it looks to be a bit toppy!

we should have good range trading this week on gj and other pairs. . .
I'm currently long off of 136.19 to test upper resistance at 137.60/70 area before another run to the downside...
yep mate.. 135.50 is on table... now...

Im looking for possible retest the breakout @ 138.20/30where 4H ema is; but also any weakness on this Up move would give us another SS to 135.50..

YM broke the DPP level, Euro Strong..GBP, JPY neutral strenght... NYSE opens in 10 min..
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  • #164,665
  • Mar 9, 2009 9:26am Mar 9, 2009 9:26am
Quoting Piters
yep mate.. 135.50 is on table... now...

Im looking for possible retest the breakout @ 138.20/30where 4H ema is; but also any weakness on this Up move would give us another SS to 135.50..

YM broke the DPP level, Euro Strong..GBP, JPY neutral strenght... NYSE opens in 10 min..
yep we are on the same page my friend. . . looking to sell rallies on failure to take out above resistance. . lots of wood to chop for a major upside movement.
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  • #164,666
  • Mar 9, 2009 9:30am Mar 9, 2009 9:30am
Quoting quecee5
yep we are on the same page my friend. . . looking to sell rallies on failure to take out above resistance. . lots of wood to chop for a major upside movement.
not only today.. most of the time
  • #164,667
  • Mar 9, 2009 9:30am Mar 9, 2009 9:30am
Quoting Piters
not only today.. most of the time
  • #164,668
  • Mar 9, 2009 9:31am Mar 9, 2009 9:31am
Quoting quecee5
Lots of resistance up above - however if 137 holds as support short-term the daily pivot could be targeted once again. . .

I look for 137.60 area to be tested short-term and maybe a spike up to DP @ 138.30/60 to take out weak shorts before lower support is tested.

Daily chart looking very bearish but 1hr is showing bullish divergence atm.
Thanks for your info ...H4 also look nice Pin..aiseh..
  • #164,669
  • Mar 9, 2009 9:33am Mar 9, 2009 9:33am
Quoting grashid
Thanks for your info ...H4 also look nice Pin..aiseh..
here is a glance at what I'm looking at on 4hr chart. . .
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  • #164,670
  • Mar 9, 2009 9:35am Mar 9, 2009 9:35am
Remember with Daylight Savings, the NYSE opened an hour ago

Quoting Piters
yep mate.. 135.50 is on table... now...

Im looking for possible retest the breakout @ 138.20/30where 4H ema is; but also any weakness on this Up move would give us another SS to 135.50..

YM broke the DPP level, Euro Strong..GBP, JPY neutral strenght... NYSE opens in 10 min..
  • #164,671
  • Mar 9, 2009 9:41am Mar 9, 2009 9:41am
Quoting Piece Of The Pie
Remember with Daylight Savings, the NYSE opened an hour ago

LOL yeah.. THANKS
  • #164,672
  • Mar 9, 2009 9:41am Mar 9, 2009 9:41am
Quoting quecee5
here is a glance at what I'm looking at on 4hr chart. . .
  • #164,673
  • Mar 9, 2009 10:55am Mar 9, 2009 10:55am
hmmm...not trying to state the obvious...but its appearing more like testing lower [135.50 and lower] before any rally. if we break 135 decisivly...it appears that we are going to test lows this week possibly??
  • #164,674
  • Mar 9, 2009 10:57am Mar 9, 2009 10:57am
I am very new in FOREX( just few days) and I would like to ask you an advice if it's possible.
I bought GBP/JPY at 138.031. I can keep it for few days but now looks pretty scarry kind of -2000 . What do you think? Is a good idea to keep or not?
Thank you very very much! Good luck with trades!
  • #164,675
  • Mar 9, 2009 11:06am Mar 9, 2009 11:06am
I have lost big time on this pair too .........but if you went long at 138 maybe .........during asian session there maybe a chance for you to break even with some kind of retracement......... still I would like you to get advice from seasoned traders like Malcomb , forexlion, Piters

take care

Quoting Ogmios
I am very new in FOREX( just few days) and I would like to ask you an advice if it's possible.
I bought GBP/JPY at 138.031. I can keep it for few days but now looks pretty scarry kind of -2000 . What do you think? Is a good idea to keep or not?
Thank you very very much! Good luck with trades!
BANDA333
  • #164,676
  • Mar 9, 2009 11:11am Mar 9, 2009 11:11am
Me too I lost so much time with this pair... but I will keep and tomorrow I will see what can I do.
Thanks again.
  • #164,677
  • Mar 9, 2009 11:25am Mar 9, 2009 11:25am
Quote
I am very new in FOREX( just few days) and I would like to ask you an advice if it's possible.
I bought GBP/JPY at 138.031. I can keep it for few days but now looks pretty scarry kind of -2000 . What do you think? Is a good idea to keep or not?
Thank you very very much! Good luck with trades!

Where is your SL? Its very possible she will come back to 138, but might drop to 133 first.... Its anyones guess..
  • #164,678
  • Mar 9, 2009 11:29am Mar 9, 2009 11:29am
Quoting Cdawg
Where is your SL? Its very possible she will come back to 138, but might drop to 133 first.... Its anyones guess..
Hi Cdawg. Did you get my pm?
  • #164,679
  • Mar 9, 2009 11:33am Mar 9, 2009 11:33am
..no SL. I put some SL-es today and I was not so smart to put them deep enough. Anyway I am with my eyes on the computer:nerd:.
Thanks.
  • #164,680
  • Mar 9, 2009 11:36am Mar 9, 2009 11:36am
YEs, mate, you are right.. its anyone guess. We trade the market, but we are not a market makers.. NOW:

we did hit the tough support at 136.00/10 where our Daily 50 ema is.. IM long.. and I do expect to see some retracement.. the area/levels are 137.10/20, 137.50/70 and 138.20. pound was hit badly all london session, and now after she hit the DS2 @ 1.3770 and fibo 1.50@ 1.3750 she is showing us some retracement.. Im watching YM or DOW.. playing around DPP [daily pivot point] no direction Yet.. USD is strong, GBP and JPY are neutral, they follow USD and DOW .. so to short this storry I can say my view:

IF 136.00 is taken, [mean 15min close below] then next test is 135.50..
IF 135.50 is taken.. then 130... 127 are on plate...

opposite,, next test is 137.40, then 137.70. then 138.20..ect..~

****NOTE: any failure to visit the next Up level, means we go DOWN again!!

I got a felling that we go to revisit 138.20.. [but that is only my crystal ball view.. not a call]

cheers!
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