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

  • #172,801
  • Apr 23, 2009 9:48am Apr 23, 2009 9:48am
Don't see much over 143.50 given strength of Yen and more bad bank news to come also in light of it breaking 142.80 under trend line suggests it hasn't quite seen bottom
If S&P continues to tank and USD index gets stronger, which both are posied to do GBP/JPY should drop pretty good
  • #172,802
  • Apr 23, 2009 9:52am Apr 23, 2009 9:52am
the 143.40 area has been sold off for like 8 straight hours...

seems like distribution to me....
  • #172,803
  • Apr 23, 2009 9:56am Apr 23, 2009 9:56am
Quoting PipChick
Forexlion,
I was looking for your zulu acct and cant find it.
i am on a vacation till monday
  • #172,804
  • Apr 23, 2009 9:56am Apr 23, 2009 9:56am
Quoting marcb
These my reasons:
1. lower lows and lower highs, broke LTL
2. British government will actually try to flog £240bn of gilts over the coming year and another £22bn of short-term debt on top of that.
http://www.telegraph.co.uk/finance/f...ial-risks.html
hence selling GBP is a good move generally speaking
3. YM posed for a run down

becasue of 1, 2 and 3 I entered a short at 145.20 with 20 pips stop loss, take profit 139.
I do not...
As I posted few minutes ago, GBPJPY is going down
  • #172,805
  • Apr 23, 2009 9:56am Apr 23, 2009 9:56am
Quoting cancunkev
the 143.40 area has been sold off for like 8 straight hours...

seems like distribution to me....
We'll have to see if this move in GBP/US has any impact since G/U broke 146.00 which just burned me since it bounced of 145.95 three times too
  • #172,806
  • Apr 23, 2009 9:56am Apr 23, 2009 9:56am
Hi Piters,

When I look at the 4H chart, I see the lower lows this week at 141.500 and 140.600.

Do you think after (hopefully) heading south and hitting 139.X region, we will head back up again or it will go all the way down to 136-137 like what happened in the beginning of the week. Please let me know if there is any way to analyze this? I really appreciate your help.
  • #172,807
  • Apr 23, 2009 9:59am Apr 23, 2009 9:59am
anybody else see that very high volume low spread m5 candle?
  • #172,808
  • Apr 23, 2009 10:04am Apr 23, 2009 10:04am
Quoting Fusion
Hi Piters,

When I look at the 4H chart, I see the lower lows this week at 141.500 and 140.600.

Do you think after (hopefully) heading south and hitting 139.X region, we will head back up again or it will go all the way down to 136-137 like what happened in the beginning of the week. Please let me know if there is any way to analyze this? I really appreciate your help.
I'm having a hard time seeing where the 140 or 139 numbers come into play on any chart, except perhaps the weekly and that asumes it breaks the 141 level. If it broke that level then I could see 139 being shattered but no other chart do I see these lows. Can anyone shed some light. Thanks
  • #172,809
  • Apr 23, 2009 10:25am Apr 23, 2009 10:25am
Well we were in the 140 range yesterday so it's not that far a stretch to beleive it can go there again. If my attachment worked I'm seeing the 55ma rolling over, the CCI still below 0, price still under 4hr GannHiLO, and shortterm stoch overbought, so I think it see's 140's and lower but it could just as easily run up to the purple 55ma before heading down, I've got my plan and am prepared
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 24 KB
Without a trade plan, say bye bye to your account & hello to frustration.
  • #172,810
  • Apr 23, 2009 10:30am Apr 23, 2009 10:30am
Quoting Eulogy
anybody else see that very high volume low spread m5 candle?
As I posted ~ an hr ago...here what I saw

1. For north target 144.94 we shall carefully look @ 143.43-143.63.Break 143.63 may seen the north target

2. For south target was
-step 1: 141.31 and 142.15 need to break
-step 2 : should break 141.27 for 140.88-139.92-138.37

am a bit tired atm and looking to off trade today and let my 1 dummy lot 10sen long from 142.35 flying around and will see how she play in asian session tomorrow..

Look like she playing arounnd between 143.29-142.54 atm...

Not sure about the others..Looking for Piter tough..before taking my bed..just take my cigar and seem bored with my PA..
  • #172,811
  • Apr 23, 2009 10:32am Apr 23, 2009 10:32am
Quoting Eulogy
anybody else see that very high volume low spread m5 candle?
Yes , followed by very low volume , high spread . Meeting major resistance
right now . 143.36 area is confluence of T/L and S/R on my 1hr chart .
50 SMA is at the center of this as well on both 1hr and Daily but not 4hr .
Anyone have thoughts on that ? Break through or break down ? For me
its wait and see a bit .
  • #172,812
  • Apr 23, 2009 10:40am Apr 23, 2009 10:40am
Quoting currencyexch
I'm having a hard time seeing where the 140 or 139 numbers come into play on any chart, except perhaps the weekly and that asumes it breaks the 141 level. If it broke that level then I could see 139 being shattered but no other chart do I see these lows. Can anyone shed some light. Thanks
well, we are in some range today, and as I posted before again we wait on breakout..

my last post http://www.forexfactory.com/showpost...stcount=172796 with a daily chart shows a daily trendline, LL, LH on last 5 bars..
from the other hand, we have a strong bull chanel and LTL at 142.00; what im looking now is the 143.50 level, if holds, and 143.80; we may have some spike UP but generaly, we should drop even deeper..

My YM or (DOW) chart: H/S on 4h.. ready to test NL... with this setup and configuraton I cannot be biased Bullish - sorry!
Attached Image (click to enlarge)
Click to Enlarge Name: ym3.gif Size: 23 KB
  • #172,813
  • Apr 23, 2009 10:43am Apr 23, 2009 10:43am
Quoting currencyexch
I'm having a hard time seeing where the 140 or 139 numbers come into play on any chart, except perhaps the weekly and that asumes it breaks the 141 level. If it broke that level then I could see 139 being shattered but no other chart do I see these lows. Can anyone shed some light. Thanks
139.40 is the monthly pivot bro. . .
  • #172,814
  • Apr 23, 2009 10:46am Apr 23, 2009 10:46am
man this PA is painful...

i feel dizzy...
  • #172,815
  • Apr 23, 2009 10:46am Apr 23, 2009 10:46am
Quoting Piters
well, we are in some range today, and as I posted before again we wait on breakout..

my last post http://www.forexfactory.com/showpost...stcount=172796 with a daily chart shows a daily trendline, LL, LH on last 5 bars..
from the other hand, we have a strong bull chanel and LTL at 142.00; what im looking now is the 143.50 level, if holds, and 143.80; we may have some spike UP but generaly, we should drop even deeper..

My YM or (DOW) chart: H/S on 4h.. ready to test NL... with this setup and configuraton I cannot be biased...
finally am ready for bed after see your tought...
  • #172,816
  • Apr 23, 2009 10:48am Apr 23, 2009 10:48am
Quoting Piters
well, we are in some range today, and as I posted before again we wait on breakout..

my last post http://www.forexfactory.com/showpost...stcount=172796 with a daily chart shows a daily trendline, LL, LH on last 5 bars..
from the other hand, we have a strong bull chanel and LTL at 142.00; what im looking now is the 143.50 level, if holds, and 143.80; we may have some spike UP but generaly, we should drop even deeper..

My YM or (DOW) chart: H/S on 4h.. ready to test NL... with this setup and configuraton I cannot be biased...
I think it would eventually break up to 145 max and a nice down from there .. let's see
  • #172,817
  • Apr 23, 2009 10:48am Apr 23, 2009 10:48am
1 hour and 4 hour trend

march month high, 145.05
  • #172,818
  • Apr 23, 2009 10:54am Apr 23, 2009 10:54am
gu is correcting the move from 1.5073

1.4653 38.2%
1.4733 50%

IMO best strategy would be to sell rallies in both gu and gy
Some drink at the fountain of knowledge. Others just gargle !
  • #172,819
  • Apr 23, 2009 10:56am Apr 23, 2009 10:56am
Quoting mktjong
I think it would eventually break up to 145 max and a nice down from there .. let's see
yeah bro, let see it. from what i see, if we do not SPIKE up in a quick spike to 143.80 - 144 then we are flipping 4h gann and opens the door to test daily up to 147,80

posible option, but let see.. Im looking that 143,80 - 144.20 where my daily UTL is. if taken,, we go UP...
  • #172,820
  • Apr 23, 2009 10:57am Apr 23, 2009 10:57am
Quoting cancunkev
man this PA is painful...

i feel dizzy...
that would be a signal for you to stand aside for a while.
I think we are entering good areas to start shorting
Some drink at the fountain of knowledge. Others just gargle !
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