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

  • #182,341
  • Jun 17, 2009 11:30am Jun 17, 2009 11:30am
The way its going it may get to 160 this afternoon in NY session
  • #182,342
  • Jun 17, 2009 11:31am Jun 17, 2009 11:31am
Quoting direct-trade
Why are people going long??

Maybe I am wrong,

Didnt the Dow Jones break below the 200MA yesterday?

Does the USD/JPY not show a very strong weekly bearish formation?

Is the GBP/USD just sitting around very strong resistance, which when broken due to selling pressure, will provide a very large drop?

Does the GBP/JPY not show a strong daily bearish formation over the last few days?

Does the GBP not "feel" top heavy to anyone?

This rise is on the back of the Dow trying to retest the 8600 level, currently at 8543. The fall from here...

note move down on dj last few days has been on low volume .. down is bear trap maybe ..... you might be wrong.

Hence day trading
Blogging daily now at www.volume.zone
  • #182,343
  • Edited 3:01pm Jun 17, 2009 11:38am | Edited 3:01pm
Quoting pino2
Everything mentioned above is logical, and I agree with it, but unfortunately, no logic in forex markets, manipulation can rule and some other hidden factors as well
Of course, I agree, what I am trying to say is this bro, I would only be going short in this area from now on. I am sure we go down fast from here over the next few days/weeks.

This last few hours up move is to shake out weak SHORTS, not LONGS.
Attached Image (click to enlarge)
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  • #182,344
  • Jun 17, 2009 11:40am Jun 17, 2009 11:40am
I've been scalping it like crazy all the way down, luckily I got out before it turned today
  • #182,345
  • Jun 17, 2009 11:42am Jun 17, 2009 11:42am
Quoting fxgrnwise
The way its going it may get to 160 this afternoon in NY session
Which is why I am Selling all the way up.
  • #182,346
  • Jun 17, 2009 11:58am Jun 17, 2009 11:58am
What I am thinking...
Attached Image (click to enlarge)
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  • #182,347
  • Jun 17, 2009 12:01pm Jun 17, 2009 12:01pm
selling. . .

hmmmmmmmmmm! don't know about that one. . . could see a 200-300 pip up move.

Couple things to note. . .

1) hd bullish div on both 1hr and 4hr
2) price is currently above 1hr gann and a close above would bold well for further upside
3) on daily there is a h&s pattern developing all is needed is the right shoulder
4) price stopped right at the neckline of this h&s pattern
5) left shoulder top is at 159 low to 160.30 high
6) right should should end somewhere in that range. . .
7) if price closes above ds1 more than likely price will retest daily pivot at 158.40 above there sits dr1 @ 160.20 area. . .

I could go on and pn but you get the gist. . .

well as I was writting we just got a close abobe 1hr gann. . .

happy pip'n folks. . .

The play is short but at higher price - look to yr daily for confirmation of the short signal. . . because it will happen. . .
  • #182,348
  • Jun 17, 2009 12:08pm Jun 17, 2009 12:08pm
Quoting quecee5
selling. . .

hmmmmmmmmmm! don't know about that one. . . could see a 200-300 pip up move.

Couple things to note. . .

1) hd bullish div on both 1hr and 4hr
2) price is currently above 1hr gann and a close above would bold well for further upside
3) on daily there is a h&s pattern developing all is needed is the right shoulder
4) price stopped right at the neckline of this h&s pattern
5) left shoulder top is at 159 low to 160.30 high
6) right should should end somewhere in that range. . .
7) if price closes above ds1 more than likely price...
Cheers bro, I see it all, but I think the b*stards will drop it when everyone is EXPECTINg the opposite. I mean, most are throwing in LONGS over the last couple of hours to catch the right shoulder, but I think it will fail quickly. Hedge fundies are ready to drop it right now whilst 2/3'rds of the day traders are riding the right shoulder.

Lets see what happens, but I am ready for the bugger to fall like a stone whilst the DOW remains below 8600.

Of course, Im being greedy LOL
  • #182,349
  • Jun 17, 2009 12:58pm Jun 17, 2009 12:58pm
Quoting quecee5
nope just making pips man. . .lmao!
seem's more achievable,in quite n silence..off trading 2day.just one trade for the week so far,which i took yesterdya 4 just 200pips..just keeping clear of the pumpum news week...HOLLA
CAPTAIN Sycho..
Imanuel Parsifal
  • #182,350
  • Jun 17, 2009 1:17pm Jun 17, 2009 1:17pm
IMO, The overall trend hasn't changed downward quite yet. I would like to see a low below the previous low fractal at 154.83-85 before saying that the trend is no longer upward. See attached chart.

So far, still higher highs and higher lows.

I must say that if price closes below the center line of BB that looks promising for lower moves.

But look at the 4 hr. chart. I will only short when price is closer to yellow trendline on 4 hr. chart. Then I will look at a 1 hr. chart for entry.

all of this is not a recommendation for anyone else to trade.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 4 hr. gbp jpy.gif Size: 41 KB
  • #182,351
  • Jun 17, 2009 1:21pm Jun 17, 2009 1:21pm
Has the time come for all the really really good posters to come back, and the not so adept like myself sit back and learn a thing or 2 from the seasoned veterans. Show me the lads/gals .
"Millionaires don't use astrology, billionaires do"
  • #182,352
  • Jun 17, 2009 1:25pm Jun 17, 2009 1:25pm
I'm still holding my longs at 156 level, but the problem is that I didn't place a target yet for those longs, but all with SL @ BE
  • #182,353
  • Jun 17, 2009 1:28pm Jun 17, 2009 1:28pm
Quoting OrionsWay
Has the time come for all the really really good posters to come back, and the not so adept like myself sit back and learn a thing or 2 from the seasoned veterans. Show me the lads/gals .
Orion you are to modest

You are one of the ones I learn from
Blogging daily now at www.volume.zone
  • #182,354
  • Jun 17, 2009 1:30pm Jun 17, 2009 1:30pm
Quoting pino2
I'm still holding my longs at 156 level, but the problem is that I didn't place a target yet for those longs, but all with SL @ BE

what r you doing ,...lol .... lets see perfect sell you let pips slip away , now perfect long . 2 of us gave perfect target to get rid of those . .... you could have had 120 pip in bag

Now we are in downtrend channel 5 min , not sure what Asia will hold for us
Blogging daily now at www.volume.zone
  • #182,355
  • Jun 17, 2009 1:31pm Jun 17, 2009 1:31pm
for you guys that like volume .. perfect sell set up off 157.20 zone

set ups like this been presenting them over and over on 5 min charts

Attached Image (click to enlarge)
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  • #182,356
  • Jun 17, 2009 1:32pm Jun 17, 2009 1:32pm
Quoting malcolmb14
what is going on in here ..

1st everyone is talking bullshit
now that has stopped everyone is talking German !!!
just a little bit of fun, of cause English is a priority
as for channels; there are two different channels on GJ;
4H and 1D are bullish and 1H is bearish;
GJ bounced from 50% line on 4H bullish channel and it seems that bulls will prevail IMHO
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 1h bear channel.gif Size: 36 KB
Click to Enlarge Name: 4h bull channel.gif Size: 22 KB
  • #182,357
  • Jun 17, 2009 1:32pm Jun 17, 2009 1:32pm
Quoting pino2
I'm still holding my longs at 156 level, but the problem is that I didn't place a target yet for those longs, but all with SL @ BE
I had target at 157 but I removed it before reaching it, and now prices is below 157, will wait and see, I might close some @ 157 and leave the rest open but still with no target
  • #182,358
  • Jun 17, 2009 1:42pm Jun 17, 2009 1:42pm
Quoting OrionsWay
Has the time come for all the really really good posters to come back, and the not so adept like myself sit back and learn a thing or 2 from the seasoned veterans. Show me the lads/gals .
more like the old saying..80's d new 70's..when 2 or 3 of our old timer's persistently post after each other,the new gazillion mouth ulcer's..tend to seat back and read or go posting in there thread or something..look's really inviting now..makes me remember the 1kt day's..
Imanuel Parsifal
  • #182,359
  • Jun 17, 2009 1:43pm Jun 17, 2009 1:43pm
Great to see the old hands posting again! Orion, Quecee, Malcolmb, pk et al, good to see ya!

Watching this lil' hanging man (ish) development...
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  • #182,360
  • Jun 17, 2009 1:43pm Jun 17, 2009 1:43pm
Quoting pino2
I had target at 157 but I removed it before reaching it, and now prices is below 157, will wait and see, I might close some @ 157 and leave the rest open but still with no target

well look at this ...

i think we may see 154.80 zone ( high volume pivot clusters) in Asia. i would like to see low vol test 157.25. on 5 min to confirm the move down

Attached Image (click to enlarge)
Click to Enlarge Name: ym407.png Size: 166 KB
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