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

  • #178,621
  • May 21, 2009 11:27am May 21, 2009 11:27am
Quoting ukdaytrader
I agree. Look at the volume on the 30m TF, declining as the price has risen. It's a bs move I think, but I'm not brave enough to short it.

It look to me like we will break out higher today now, so I will watching selling volume very carefully.
Right .. but watch out as well. It may retrace if Dow stays red at close.. imo.
  • #178,622
  • May 21, 2009 11:27am May 21, 2009 11:27am
Quoting A-speculator
Well, we are actually in uptrend.. whoever short right now including me are fighting the trend. We might win but more expose to risk.
Right ..
  • #178,623
  • May 21, 2009 11:28am May 21, 2009 11:28am
Quoting cancunkev
i am along the same lines here...

if we break the 150/151 region we should be targeting at least 156...but even with the erratic PA today, the lower volumes, and the fast mark up...i am not 100% sure that is going to happen....if we dont break in NY i am thinking we will see a fast selloff in asia and GU needs a breather as well
Yups I agree with you. If this breakout confirmed, I also looking forward to 156 as the first leg.
  • #178,624
  • May 21, 2009 11:29am May 21, 2009 11:29am
Quoting ukdaytrader
I agree. Look at the volume on the 30m TF, declining as the price has risen. It's a bs move I think, but I'm not brave enough to short it.

It look to me like we will break out higher today now, so I will watching selling volume very carefully.
I am seeing selling volume just kicked in on 15 min.
  • #178,625
  • May 21, 2009 11:35am May 21, 2009 11:35am
is'nt the cable manipulation too obvious..
Imanuel Parsifal
  • #178,626
  • May 21, 2009 11:38am May 21, 2009 11:38am
I see much less at risk selling at top than buying top, look to the left of your chart this is selling zone and one can establish a much better SL than buying up here. but again what do I know. JMHO
  • #178,627
  • May 21, 2009 11:39am May 21, 2009 11:39am
That's it. I'm finally going to a monthly, weekly, daily time frame. That seems to be a lot less stressful. This is going to drop and drop hard. Here are my reasons.

-The consolidation around the 150-152 area is due to the fact that its almost right on the 38% fib from the last swing down on the monthly chart. Unfortunately it's not going to come down this month but sometime next month. If it does go higher it will go no further than 155 and then come down. Until next month we are just going to just range and ranging is one sign of direction change.
  • #178,628
  • May 21, 2009 11:44am May 21, 2009 11:44am
Quoting ukdaytrader
I agree. Look at the volume on the 30m TF, declining as the price has risen. It's a bs move I think, but I'm not brave enough to short it.

It look to me like we will break out higher today now, so I will watching selling volume very carefully.
I see it too. Plus, the yen crosses aren't going far without dollar yen weakening against bucky. no way.
"Don't trade to trade . . . trade to win." - James16
  • #178,629
  • May 21, 2009 11:46am May 21, 2009 11:46am
Quoting Estero
I see much less at risk selling at top than buying top, look to the left of your chart this is selling zone and one can establish a much better SL than buying up here. but again what do I know. JMHO
That's the point I'm selling tho I might face some risk. Will close all the shorts if breakout confirmed and enter long again after the breakout.
  • #178,630
  • May 21, 2009 11:50am May 21, 2009 11:50am
It seems i was right ,we are heading up to 1.59 very fast lol.i have good chartsit is not the time for getting short right now i am guessing.but we will have a short spike soon i guess ???

Quoting A-speculator
Well, we are actually in uptrend.. whoever short right now including me are fighting the trend. We might win but more expose to risk.
  • #178,631
  • May 21, 2009 11:58am May 21, 2009 11:58am
Quoting jibleanu
It seems i was right ,we are heading up to 1.59 very fast lol.i have good chartsit is not the time for getting short right now i am guessing.but we will have a short spike soon i guess ???
I'm sorry I failed to give you the accurate advise from my lack of experience trading that pair, I only specialize in GJ. Anyway I agree that no one should enter short this time. For my position, I will hold it until confirmed breakout. Good analysis jibleanu.
  • #178,632
  • May 21, 2009 12:07pm May 21, 2009 12:07pm
Quoting forexlion
USDCAD will fall sharply on the current news in 15 minutes

pushing both GBPUSD and GBPJPY upwards.

Quoting pipmyride
Hmmm ... wrong again

Quoting Vanhook2
I was waiting for that.
and there goes the action, i am never wrong
  • #178,633
  • May 21, 2009 12:12pm May 21, 2009 12:12pm
Quoting forexlion
and there goes the action, i am never wrong

...because you started to learn VSA...like malcolmb....
The Market pays you to be disciplined
  • #178,634
  • May 21, 2009 12:22pm May 21, 2009 12:22pm
Originally Posted by forexlion http://www.forexfactory.com/images/buttons/viewpost.gif
USDCAD will fall sharply on the current news in 15 minutes

pushing both GBPUSD and GBPJPY upwards.

Quoting forexlion
and there goes the action, i am never wrong
F/L, your post was about the NEWS @ 8:30.
Look @ the P/A, it was in range mode for a couple 3 hours after that.
You were wrong.
I trade what I see on my charts. Do Not listen to the Muppets.
  • #178,635
  • May 21, 2009 12:31pm May 21, 2009 12:31pm
Quoting Vanhook2
Originally Posted by forexlion http://www.forexfactory.com/images/buttons/viewpost.gif
USDCAD will fall sharply on the current news in 15 minutes

pushing both GBPUSD and GBPJPY upwards.



F/L, your post was about the NEWS @ 8:30.
Look @ the P/A, it was in range mode for a couple 3 hours after that.
You were wrong.
stories, end result matters
  • #178,636
  • May 21, 2009 12:35pm May 21, 2009 12:35pm
Ya that is why u waited for hours together for the price to go up and then say u had predicted. Why dont u guys just go about your trading and just help newbies with some inputs for them to learn forex instead of boosting. Everyone knows who is a good trader and who just farts.

Balaji

[€quote=forexlion;2749326]stories, end result matters[/quote]
  • #178,637
  • May 21, 2009 12:36pm May 21, 2009 12:36pm
Quoting mima
...because you started to learn VSA...like malcolmb....
nothing to do with vsa, i never bothered for it

but everything to do with fundamental analysis,

gbp curve follows hbos housing index, a direct relation to where gbp will go in future and for the record, gbp has hit the bottom.

now there is only one direction left,
  • #178,638
  • May 21, 2009 12:37pm May 21, 2009 12:37pm
Quoting jibleanu
It seems i was right ,we are heading up to 1.59 very fast lol

Just don't see it at all.

Many green pips though, good luck!
  • #178,639
  • May 21, 2009 12:42pm May 21, 2009 12:42pm
GBPJPY is headed into 155.87 and GBPUSD is headed into 1.6041

its as simple as that
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  • #178,640
  • May 21, 2009 12:44pm May 21, 2009 12:44pm
Quoting forexlion
nothing to do with vsa, i never bothered for it

but everything to do with fundamental analysis,

gbp curve follows hbos housing index, a direct relation to where gbp will go in future and for the record, gbp has hit the bottom.

now there is only one direction left,
I am not sure that all bad things are over...It last for 2 years and can not be over for 1 month based on one report on housing....
The Market pays you to be disciplined
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