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

  • #180,721
  • Jun 3, 2009 1:54pm Jun 3, 2009 1:54pm
I was reminded that there is important news coming out 7:00AM Thurs morning, interest rate for GBP,my sentiment is bullish as well to at least a double top.
  • #180,722
  • Jun 3, 2009 2:35pm Jun 3, 2009 2:35pm
Some thing to consider..Focus on FIB levels.

This chart looks like its a Cup in the making.. sooner or later it will have a Handle.. huge cup should have a bigger handle as well.

Look at the Fib CONFLUENCE AREAS. I am staying Bullish till 61.8% retracement that is at 167.42 area. For handle 137.41.

165xx- 167xx is the level of price which has never been tested.. since the Great Fall. Indicators have a lot of room to go up again. I dont think this Bull.. BS is over yet. If it does retraces TO 148.80.. I will be looking to long. from there.

Channels(Trend lines) and FIBS are looking very interesting.
Attached Image (click to enlarge)
Click to Enlarge Name: daily chart.jpg Size: 207 KB
Markets are not Random, they are designed!
  • #180,723
  • Jun 3, 2009 3:31pm Jun 3, 2009 3:31pm
Here is my 60 min and my thoughts

red line = 14 wma as long as price remains under this I am bearish . I am bearish as long as price now stays under 158 for now with downside targets as mentioned below.

I threw some fib retracements from 143 zone to 160 ... they are shown on the chart

I also threw on the high volume pivots of last 15 trading days to find the high volume clusters

Here are my major support zones.( shown on the charts as little blue lines next to them )

1)154 zone

2) 150 ( between 151 and 149 ) zone

once we get into 154 or 150 zone i will provide another 60 min chart

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Blogging daily now at www.volume.zone
  • #180,724
  • Jun 3, 2009 3:33pm Jun 3, 2009 3:33pm
Quoting Raza
Some thing to consider..Focus on FIB levels.

This chart looks like its a Cup in the making.. sooner or later it will have a Handle.. huge cup should have a bigger handle as well.

Look at the Fib CONFLUENCE AREAS. I am staying Bullish till 61.8% retracement that is at 167.42 area. For handle 137.41.

165xx- 167xx is the level of price which has never been tested.. since the Great Fall. Indicators have a lot of room to go up again. I dont think this Bull.. BS is over yet. If it does retraces TO 148.80.. I will be looking to long. from there....
nicely done Raz!!!! observations are our friends
"Millionaires don't use astrology, billionaires do"
  • #180,725
  • Jun 3, 2009 4:29pm Jun 3, 2009 4:29pm
Quoting Raza
Some thing to consider..Focus on FIB levels.

This chart looks like its a Cup in the making.. sooner or later it will have a Handle.. huge cup should have a bigger handle as well.

Look at the Fib CONFLUENCE AREAS. I am staying Bullish till 61.8% retracement that is at 167.42 area. For handle 137.41.

165xx- 167xx is the level of price which has never been tested.. since the Great Fall. Indicators have a lot of room to go up again. I dont think this Bull.. BS is over yet. If it does retraces TO 148.80.. I will be looking to long. from there....

Nice chart mate..my bias is still up i am looking at the test of 162.50 on 55ema above my weekly channel...if is break we should test 167.55 ..
my long from 156.40 is running lock pips..let see how it play..
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MY OPINION NOT FINANCIAL ADVISE
  • #180,726
  • Jun 3, 2009 4:31pm Jun 3, 2009 4:31pm
there seems to be selling appearing on M5 and M15 before tokyo open
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I recommend you read something else as this sentence is now concluded.
  • #180,727
  • Jun 3, 2009 4:51pm Jun 3, 2009 4:51pm
I am scared sh1tless trying to catch any retracements after trying it a number of times last week and getting tossed to the side ...

While this one looks a tad more convincing i dont think i can take it ..
  • #180,728
  • Jun 3, 2009 4:52pm Jun 3, 2009 4:52pm
here is 5 min chart

bear div on 5 min .. Currency note the rsx lower high price is same level , right at piunk dotted line = point of control

OB .. nice spot ... right off point of ocntrol in a sell

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  • #180,729
  • Jun 3, 2009 4:54pm Jun 3, 2009 4:54pm
Quoting pipmyride
I am scared sh1tless trying to catch any retracements after trying it a number of times last week and getting tossed to the side ...

While this one looks a tad more convincing i dont think i can take it ..

trend has changed .... 154 is my min target and maybe 150.

selling rallies seems ok for now . i would be scared trying to go long on the retracements.
Blogging daily now at www.volume.zone
  • #180,730
  • Jun 3, 2009 5:28pm Jun 3, 2009 5:28pm
Quoting malcolmb14
trend has changed .... 154 is my min target and maybe 150.

selling rallies seems ok for now . i would be scared trying to go long on the retracements.
What TF do you see the trend as changed ?
  • #180,731
  • Jun 3, 2009 5:28pm Jun 3, 2009 5:28pm
Quoting malcolmb14
trend has changed .... 154 is my min target and maybe 150.

selling rallies seems ok for now . i would be scared trying to go long on the retracements.
I think with the futures being down & with the Nikkei down, this 154 target is very possible.

http://www.nni.nikkei.co.jp/e/fr/tnks/marketlive.aspx
  • #180,732
  • Jun 3, 2009 5:33pm Jun 3, 2009 5:33pm
Quoting pipmyride
What TF do you see the trend as changed ?

maybe i am early ... but last time rsx was this high on daily was 250 .....

I will confrim bearish reversal pattern on candle set up tomorrow in US session

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  • #180,733
  • Jun 3, 2009 5:44pm Jun 3, 2009 5:44pm
bear flag ... as long as red line holds .. then flag will go up .

15 min close under the 14 wma 154 is target

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  • #180,734
  • Jun 3, 2009 5:50pm Jun 3, 2009 5:50pm
Quoting malcolmb14
maybe i am early ... but last time rsx was this high on daily was 250 .....

I will confrim bearish reversal pattern on candle set up tomorrow in US session

Attachment
I noticed that 2 days ago.. my RSI.. oversold..also at the level , when price was at 215xx.

Read about it.. what I understood is it can stay OS . and the price will keep advancing.. even if it is going down.. a slight drop in price.. and you will see indicator fall .. too much.. thats whats been happening.. price keeps on getting bullish.. here is the Chart.. check out . Blue lines.. also RED ones.. This is what RSI has to touch.. to start going DOWN. I think.. We should be able to see huge Bearish diversion on Indicators as well...what ever you use for indi..

I am watching for a Bearish Reversal also on Daily..
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Markets are not Random, they are designed!
  • #180,735
  • Jun 3, 2009 5:53pm Jun 3, 2009 5:53pm
Quoting Raza
I noticed that 2 days ago.. my RSI.. oversold..also at the level , when price was at 215xx.

Read about it.. what I understood is it can stay OS . and the price will keep advancing.. even if it is going down.. a slight drop in price.. and you will see indicator fall .. too much.. thats whats been happening.. price keeps on getting bullish.. here is the Chart.. check out . Blue lines.. also RED ones.. This is what RSI has to touch.. to start going DOWN. I think..

RSI yes .. BUT not rsx ... rsx is more sensitive than RSI.

The candle pattern on the daily is also very bearish .. that wide spread up and then doji and today reversal. Need to wait noe nmore day to see if we have another red candle.

I am not saying 130 ... but for sure 154 and maybe 150 is on cards
Blogging daily now at www.volume.zone
  • #180,736
  • Jun 3, 2009 5:58pm Jun 3, 2009 5:58pm
Quoting Raza
I noticed that 2 days ago.. my RSI.. oversold..also at the level , when price was at 215xx.

Read about it.. what I understood is it can stay OS . and the price will keep advancing.. even if it is going down.. a slight drop in price.. and you will see indicator fall .. too much.. thats whats been happening.. price keeps on getting bullish.. here is the Chart.. check out . Blue lines.. also RED ones.. This is what RSI has to touch.. to start going DOWN. I think.. We should be able to see huge Bearish diversion on Indicators as well...what ever you...
daily supported by this bearish divergence on weekly ....

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  • #180,737
  • Edited 6:10pm Jun 3, 2009 5:59pm | Edited 6:10pm
Quoting malcolmb14
RSI yes .. BUT not rsx ... rsx is more sensitive than RSI.

The candle pattern on the daily is also very bearish .. that wide spread up and then doji and today reversal. Need to wait noe nmore day to see if we have another red candle.

I am not saying 130 ... but for sure 154 and maybe 150 is on cards
Reversal targets..I strongly agree with you..150xx 151xx .. but i would prefer if this touches 158xx.. first.. lets see what happens..in few hours.

Keeping in mind that 155xx level was a important Fib level.. we all were talking about for months..Breaking that might change a lot of things.. It will become strong support.
Markets are not Random, they are designed!
  • #180,738
  • Jun 3, 2009 6:00pm Jun 3, 2009 6:00pm
Quoting pipmyride
I am scared sh1tless trying to catch any retracements after trying it a number of times last week and getting tossed to the side ...

While this one looks a tad more convincing i dont think i can take it ..

I here you brother, I got descimated the other day but who ever had their eye on the 4hr chart is a life saver, jumpe in when it broke 156.40 and it just now to, took off., Of course I'm as scared shitles as you so I bailed with 50 pips. Can't go broke taking positive pips. I suspect it will follow on doing wht is has been doing. The chances of the BOE doing anything tomorrow is slim to none
  • #180,739
  • Edited 6:39pm Jun 3, 2009 6:06pm | Edited 6:39pm
Quoting currencyexch
I here you brother, I got descimated the other day but who ever had their eye on the 4hr chart is a life saver, jumpe in when it broke 156.40 and it just now to, took off., Of course I'm as scared shitles as you so I bailed with 50 pips. Can't go broke taking positive pips. I suspect it will follow on doing wht is has been doing. The chances of the BOE doing anything tomorrow is slim to none
Dont wait for the home run... Take what you can..in this kinda Market till there is Clear direction... humble advise. Bank some pips might need them for Draw downs. 30 pips a day can keep MR.Margin away..

By the way..WHO VOUCHED ME.. THANKS . Arezab..Orion
Markets are not Random, they are designed!
  • #180,740
  • Jun 3, 2009 6:20pm Jun 3, 2009 6:20pm
I see 156.42 as support on the daily chart so as long as it stays above no downside yet. It is currently 300 pips above the Tenkan line on cloud chart which is first line of major support then 150.63 after that But still expecting a ride back to 158 as that is where the Tenkan lin is on the 1hr chart and sitting 50 ppipd sbobe Kijun line which indicates bullish sentiment
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