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

  • #178,541
  • May 21, 2009 6:23am May 21, 2009 6:23am
i reckon this move down is just so that big money can load up at cheapeer price and drive it to 1.6.

last week was tight range and high volume so i thouht there was background selling but as we saw the last 3 days up moves were on large volumes which means they are buying. so im really inclined to think that news just helped big money to shake out weak longs and buy at discount price.
  • #178,542
  • May 21, 2009 6:23am May 21, 2009 6:23am
Quoting ukdaytrader
GY actually looks bullish to me right now. Might just be a punch up then sell, but there has been a steady stream of buyers on dips all morning. The S&P news has thrown a spanner in the works, but a 200 pip bounce from the low spike tells me the market wants to test 150 again today.

JMHO of course.
Let's see, price was testing the daily pivot and bounce from it, price is below 4h Gann & below 5 ema on 4h TF, in 1h TF is near to close below 50 ema, test of 23% fibo level from the last up move @148.20 and bounce from then too, I think on big time frames Geppy is bullish, but today can be a correction day, JMHO

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #178,543
  • May 21, 2009 6:28am May 21, 2009 6:28am
Quoting grashid
..lesson learn for us..but u r lucky..mine..damm..SL=150 am adjusting it to 149.80 as sure not bouncing in London ....mmmm..but now its already paid...will turn on my 1000 pips trailing stop @ my 50% daily for my 38.2% 1st target & 23.6% for my 2nd target...see how..

Good luck mate and see you in US session....Take care
Hey G, looking good. My chart shows G/Y daily, PA stopped exactly at 38.2% daily fib, wow! I'm coming round to using these fibs! Would like to know more about your/Piter's method.

I'm still using the fib between 6th-28th April high/low points and I noticed on your chart you're using a more recent high/low. Can you or Piter tell me how you make the decision to choose which high/low points you work from to take daily fib targets?

Also, I know that 50% fib is a very important level and there is strong monthly s/r at that point. I expect that if we break 146.77-146.9 then we will test this 50% level. What do you think?

Thanks!
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  • #178,544
  • May 21, 2009 6:31am May 21, 2009 6:31am
If anyone want to go long, now it is not the time, look at how the daily candles was formed. Perhaps you can long @ 146.45, who knows.. but not at this time, not yet. Personally, I'm targeting at about 147.25 to long but it depends to how the candle at that price.
  • #178,545
  • May 21, 2009 6:31am May 21, 2009 6:31am
Quoting janela
You might be right. Refer below:
11:07 GBP/USD: Lent Support by Moody"s & Fitch Views on UK London, May 21. Moody"s announcement that "its UK sovereign rating is stable and not under review" (Reuters) and Fitch"s affirmation of its Triple A UK credit rating and stable outlook (Reuters) is lending support to cable as it consolidates gains from a European morning low of 1.5512. That low was plumbed on the back of S&P"s revision of its UK sovereign debt outlook from negative to stable
Well, confusing..

[REUTERS on S&P] S&P cuts UK's rating outlook to negative

http://www.reuters.com/article/ousiv...54K2A320090521

p
  • #178,546
  • May 21, 2009 6:35am May 21, 2009 6:35am
Quoting A-speculator
If anyone want to go long, now it is not the time, look at how the daily candles was formed. Perhaps you can long @ 146.45, who knows.. but not at this time, not yet. Personally, I'm targeting at about 147.25 to long but it depends to how the candle at that price.
hey A-spectulator, it was what i'm talking about , like a watefall
Making money not by predicting just by following ...
  • #178,547
  • May 21, 2009 6:37am May 21, 2009 6:37am
Quoting gl4di4t0r
see my last post, and what i said to sepctulator, and a chart that i draw for him, and what i said about smart moneys
Well, I'm not into this smart money thing man.. if you look at daily chart, you already know you should not long anymore so what's left is the not so smart money in the market. ahahah
  • #178,548
  • May 21, 2009 6:40am May 21, 2009 6:40am
Quoting gl4di4t0r
hey A-spectulator, it was what i'm talking about , like a watefall
I have closed my short, currently I have no position in the market. This is the time, I will not have any position until I saw the right setup again.
  • #178,549
  • May 21, 2009 6:42am May 21, 2009 6:42am
Quoting A-speculator
Well, I'm not into this smart money thing man.. if you look at daily chart, you already know you should not long anymore so what's left is the not so smart money in the market. ahahah
, good job, closed your positions?
Making money not by predicting just by following ...
  • #178,550
  • May 21, 2009 6:43am May 21, 2009 6:43am
Quoting gl4di4t0r
, good job, closed your positions?
Yups, closed everything, altogether are more than 1000pips. How about you man..
  • #178,551
  • May 21, 2009 6:47am May 21, 2009 6:47am
Well, did we all have fun on the waterfall? I missed it, but I still had a wonderful trading day.... I hope yours is Kool, too.

I got my second to largest trade today, so I stop now....

Regards to you all,

Kenfen
  • #178,552
  • May 21, 2009 6:50am May 21, 2009 6:50am
I might reenter short @ 148.75, if the price reach there..
  • #178,553
  • May 21, 2009 6:59am May 21, 2009 6:59am
Quoting A-speculator
Yups, closed everything, altogether are more than 1000pips. How about you man..
short at 149 (closed), long at 147.70(closed),so i'm fine
Making money not by predicting just by following ...
  • #178,554
  • May 21, 2009 7:06am May 21, 2009 7:06am
Quoting gl4di4t0r
short at 149 (closed), long at 147.70(closed),so i'm fine
Now I have 1 pos which i pending @ 148.75.. See how it goes..
  • #178,555
  • May 21, 2009 7:14am May 21, 2009 7:14am
I'm proud to say i had the discipline to not chase those pips ... and got nothing for it ....

  • #178,556
  • May 21, 2009 7:16am May 21, 2009 7:16am
USDCAD will fall sharply on the current news in 15 minutes

pushing both GBPUSD and GBPJPY upwards.
  • #178,557
  • May 21, 2009 7:19am May 21, 2009 7:19am
  •  sloof
  • | Joined Apr 2009 | Status: Birejji (ビレッジ) ►FOREX◄ | 141 Posts
Quoting forexlion
USDCAD will fall sharply on the current news in 15 minutes

pushing both GBPUSD and GBPJPY upwards.
how can you be so sure? wouldn't UJ fall though?
  • #178,558
  • May 21, 2009 7:20am May 21, 2009 7:20am
Quoting forexlion
USDCAD will fall sharply on the current news in 15 minutes

pushing both GBPUSD and GBPJPY upwards.
but usdcad will not break the lows of today

nor will gj break the highs of today
  • #178,559
  • May 21, 2009 7:22am May 21, 2009 7:22am
Quoting sloof
how can you be so sure? wouldn't UJ fall though?
uj is already in action down

actually the whole action will be in usd , weak usd
  • #178,560
  • May 21, 2009 7:25am May 21, 2009 7:25am
Quoting forexlion
USDCAD will fall sharply on the current news in 15 minutes
I'm counting on it. I'm glad you think so too. I wish I had your level of certainty, though. What led you to this conclusion?
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