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

  • #178,921
  • May 22, 2009 12:15pm May 22, 2009 12:15pm
Quoting DutchTrader
I'm watching the action around 151.00, could be 165.00 if that opens up.
up or down ???

It's like bungee jumping

  • #178,922
  • May 22, 2009 12:24pm May 22, 2009 12:24pm
Quoting DutchTrader
I'm watching the action around 151.00, could be 165.00 if that opens up.
165 is too fast. I see the resistance at 155,5. Pound has wings to fly to 1,606 and for yen the top should be around 97. Of course if yen breaks it then it will get further up pressure for 100. But not for now
  • #178,923
  • May 22, 2009 12:41pm May 22, 2009 12:41pm
Quoting pipsbull
165 is too fast. I see the resistance at 155,5. Pound has wings to fly to 1,606 and for yen the top should be around 97. Of course if yen breaks it then it will get further up pressure for 100. But not for now

I do not think he meant 165 in one move .....likely a longer term target

I am just day trading gj and gu , gu has been lovely. .... very defined 80 pip range
Blogging daily now at www.volume.zone
  • #178,924
  • May 22, 2009 12:56pm May 22, 2009 12:56pm
hi guys and girls, I have been following this thread for some time now and I thought it only appropriate to post a few words. I mainly trade cable and GJ but I must admit that this week has been very hard for me being stopped out on many trades. Hopefully we will get some decent price action for us to trade next week. Look forward to bouncing some ideas over the coming weeks and months.

Hope you all have a great weekend!!
  • #178,925
  • May 22, 2009 1:18pm May 22, 2009 1:18pm
Quoting malcolmb14
here is long term 8 hour ..

151 ish may be the high for now and we move to 145 ( test of lower trend line) and then see what happens from there

or we move to 164 and test upper trend line completion of move June 4th , with the buying on the mark down Thursday we may see this scenario. However there is bearish div on the rsx on the test of 150.50 and I am expecting the USD to get stronger next week if that stopping volume on the daily dollar index chart plays out

I cannot really get anything form todays session yet

for me , as a day trader...
Wow that would be great to ride this thing back down to 145 area... I hope you're correct, and I am around to get in on that move... Thanks Malcolm, it gives me a new way of looking at this.
  • #178,926
  • May 22, 2009 1:21pm May 22, 2009 1:21pm
I have been looking at this for awhile wondering if there will be a break to the south. Was sort of hoping for a breakout of the lower trend line.

[IMG]file:///C:/DOCUME%7E1/OWNER%7E1.GRE/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG][IMG]file:///C:/DOCUME%7E1/OWNER%7E1.GRE/LOCALS%7E1/Temp/moz-screenshot-1.jpg[/IMG]http://www.forexfactory.com/attachme...9&d=1243016044
Attached Image (click to enlarge)
Click to Enlarge Name: 5-22-108PM.JPG Size: 97 KB
  • #178,927
  • May 22, 2009 1:24pm May 22, 2009 1:24pm
Guess I got my answer
  • #178,928
  • May 22, 2009 1:25pm May 22, 2009 1:25pm
Quoting malcolmb14
I do not think he meant 165 in one move .....likely a longer term target

I am just day trading gj and gu , gu has been lovely. .... very defined 80 pip range
just wondering why 165...?
i see 155 as from fib extension, then 167 as 50% retr, and the overall top 178,7( TL cross with fib time, 61,8 retracement). If that is broken..., oh boy, I'll be happy to see prosperous markets...lol
Attached Image (click to enlarge)
Click to Enlarge Name: 11.jpg Size: 196 KB
  • #178,929
  • May 22, 2009 1:27pm May 22, 2009 1:27pm
Quoting 1MoreCandle
Guess I got my answer
this move under NO volume almost looks like mark up to me under low low volume time

odd how the uj moving up , us stock markets sideways and gu sideways yet Uj moving up ....

should be interesting week next week
Blogging daily now at www.volume.zone
  • #178,930
  • May 22, 2009 1:27pm May 22, 2009 1:27pm
Quoting pipsbull
just wondering why 165...?
i see 155 as from fib extension, then 167 as 50% retr, and the overall top 178,7( TL cross with fib time, 61,8 retracement). If that is broken..., oh boy, I'll be happy to see prosperous markets...lol
That's just resistance levels. The true top will be formed in the middle of august - based on Fibonaci time extension - 1,382.
  • #178,931
  • May 22, 2009 1:28pm May 22, 2009 1:28pm
Quoting pipsbull
just wondering why 165...?
i see 155 as from fib extension, then 167 as 50% retr, and the overall top 178,7( TL cross with fib time, 61,8 retracement). If that is broken..., oh boy, I'll be happy to see prosperous markets...lol

maybe round number
150 , 155 , 160 , 165 etc

also October 30th 2008 high was 165.09
Blogging daily now at www.volume.zone
  • #178,932
  • May 22, 2009 1:28pm May 22, 2009 1:28pm
Quoting 1MoreCandle
Guess I got my answer
Well, please be caution if you are enter short after the breakout. Personally, I am positive towards 156. The problem here is to find a very, very good entry point which have very minimum drawdown. I am looking towards 150 for long this is because it is the valid resistance both technical and physiological. Let's see how this play out.
  • #178,933
  • May 22, 2009 1:36pm May 22, 2009 1:36pm
Quoting malcolmb14
maybe round number
150 , 155 , 160 , 165 etc
why round numbers, I remember much more "stops-and-reverse" levels were not on round numbers. It is cross pair and 155 is more like 155,5-156 to me. However, 155-156 is resistance
  • #178,934
  • May 22, 2009 1:39pm May 22, 2009 1:39pm
Quoting malcolmb14
this move under NO volume almost looks like mark up to me under low low volume time

odd how the uj moving up , us stock markets sideways and gu sideways yet Uj moving up ....

should be interesting week next week

Thay know that Benny boy's BS willl have NO effect on the market and it will tak anyway...so they wanna have the upper hand...
  • #178,935
  • May 22, 2009 1:47pm May 22, 2009 1:47pm
Quoting malcolmb14
maybe round number
150 , 155 , 160 , 165 etc

also October 30th 2008 high was 165.09
I wonder if we will get a Gap up Sunday, before it retrace to the lower levels. Anyway, I learned a long time ago, not to hold over the weekend.
  • #178,936
  • May 22, 2009 4:20pm May 22, 2009 4:20pm
My broker already closed but i just saw spike on livecharts.co.uk down to 150.48. Did pros take their profit or what?and if they did what to expect? i cant see the volumes there
  • #178,937
  • May 22, 2009 6:36pm May 22, 2009 6:36pm
Round numbers are always zones with a lot of activity around it. I wasn't expecting it in one move and I picked 165 as the last high before the move down we're currently moving away from.
Patience + Humility + Study = Success
  • #178,938
  • May 22, 2009 10:54pm May 22, 2009 10:54pm
Quoting gl4di4t0r
i didnt mock anyone, anyway i'm sorry , i have shorted from 149.66 tooken at 148.50, now a fun long at 149
you had a good ride then
i particularly closed my longs
The reason why i did that on GU,eu charts i saw many divergence line's on different timeframes. Yes they are invalid now, last days we saw some shoots (strong up movements) according to my analysis we are very close to the end of bulls. next week i will be working for an opportunity to short
  • #178,939
  • May 22, 2009 11:01pm May 22, 2009 11:01pm
one more candle

When you post the chart can you make the chart in normal size
Now the width of all post became very wide
  • #178,940
  • May 22, 2009 11:20pm May 22, 2009 11:20pm
Quoting pipsbull
just wondering why 165...?
i see 155 as from fib extension, then 167 as 50% retr, and the overall top 178,7( TL cross with fib time, 61,8 retracement). If that is broken..., oh boy, I'll be happy to see prosperous markets...lol
http://www.forexfactory.com/showpost...stcount=178480

Now i can see a different statement..more n more people appreciate with this fib...mmm...n look like u r one of them...
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