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

  • #183,321
  • Jun 29, 2009 6:03am Jun 29, 2009 6:03am
My indepth analysis this week:

Take the week off, in fact take next week off too.

Come back and trade from middle of July.

Happy trading bros.
  • #183,322
  • Jun 29, 2009 6:11am Jun 29, 2009 6:11am
Quoting grashid
http://www.forexfactory.com/showpost...stcount=182721

38.2%-61.8% ~ 155-150.50 is my my step by step target by looking 50% daily to break ~ 152.60/70 area to break next week....

Nice daily doji may make desicion next week to test @ my 50% daily...perhaps.
So no new entry..still in resting time till NFP..maybe...Happy Weekend...Cheers

P/S : Raza..how's ur mum...its she recover and getting better? Hope and wish she will be fine see you next week mate.
mm nothing special..load more short @ 157.90..mm...perhaps tomorrow UK GDP will see some good result
  • #183,323
  • Jun 29, 2009 7:35am Jun 29, 2009 7:35am
Quoting grashid
mm nothing special..load more short @ 157.90..mm...perhaps tomorrow UK GDP will see some good result

week is boring thread is silent ...how is everyone doing today?
MY OPINION NOT FINANCIAL ADVISE
  • #183,324
  • Jun 29, 2009 7:39am Jun 29, 2009 7:39am
Quoting donfriday
week is boring thread is silent ...how is everyone doing today?
only u r here...am not sure..am going for GU with o.1 lot size..just take some pips in ranging...but not a real trade...still in the mood of resting week..anyway just add GY @ 157.90 and wanna see tomorrow london...perhaps some good news..otherwise burn ~8.75K SL @ 160.50...

So hows ur doing mate...a bit long time am did not posting here...
  • #183,325
  • Jun 29, 2009 7:49am Jun 29, 2009 7:49am
Quoting grashid
only u r here...am not sure..am going for GU with o.1 lot size..just take some pips in ranging...but not a real trade...still in the mood of resting week..anyway just add GY @ 157.90 and wanna see tomorrow london...perhaps some good news..otherwise burn ~8.75K SL @ 160.50...

So hows ur doing mate...a bit long time am did not posting here...

i just came in checking PA ....you really need to be careful with the short cus daily not not good for short and we really not sure of tomorrow's news ..
it's better u wait for clear direction till u short or take position with a good sl .
daily on hidden bullish divergence and 4hrs still range since lask week consolidation ..
I miss everyone here , i think i need some vacation myself been trading for a while need some time to refresh my brain.
MY OPINION NOT FINANCIAL ADVISE
  • #183,326
  • Jun 29, 2009 7:55am Jun 29, 2009 7:55am
Quoting donfriday
i just came in checking PA ....you really need to be careful with the short cus daily not not good for short and we really not sure of tomorrow's news ..
it's better u wait for clear direction till u short or take position with a good sl .
daily on hidden bullish divergence and 4hrs still range since lask week consolidation ..
I miss everyone here , i think i need some vacation myself been trading for a while need some time to refresh my brain.
k mate see u tomorrow..am going to take my bed...159 is the ultimate if she wanna go today...mm..its ok....just leave her alone for tomorrow...See you ya...Take care
  • #183,327
  • Jun 29, 2009 8:05am Jun 29, 2009 8:05am
Quoting grashid
k mate see u tomorrow..am going to take my bed...159 is the ultimate if she wanna go today...mm..its ok....just leave her alone for tomorrow...See you ya...Take care

okay sleep well and dont forget asia will be interesting tonight .....
everyone is out i just took a long at 157.91 lock in pips at 158.00
will see how it play out in the divergence with the little corrective on 4hrs chart.
c ya all later 1 luv
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MY OPINION NOT FINANCIAL ADVISE
  • #183,328
  • Jun 29, 2009 9:55am Jun 29, 2009 9:55am
What happened to this thread? it's so quite. I remember times when I had to read +50 pages everyday ...
Discipline + Patience - Fear - Greed = Success
  • #183,329
  • Jun 29, 2009 10:11am Jun 29, 2009 10:11am
Quoting arezab
What happened to this thread? it's so quite. I remember times when I had to read +50 pages everyday ...
Hehe I think all traders are making green pips and stop posting in a while
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #183,330
  • Jun 29, 2009 10:13am Jun 29, 2009 10:13am
Daily chart suggests more up move to come unless 156.70 is breached to the downside.

RSI still over 50 and stoch rising and most importantly candlestick pattern is showing buyers in control.

If bulls continue 167.30 would be fair as next stop.
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Discipline + Patience - Fear - Greed = Success
  • #183,331
  • Jun 29, 2009 10:19am Jun 29, 2009 10:19am
Quoting arezab
What happened to this thread? it's so quite. I remember times when I had to read +50 pages everyday ...

I dont know what has happened...maybe they have all started a private trading room or something?

Been watching this like a hawk today...decided to ditch the long term Bearish setup from begining of June (for now) and swing it.

Went long at 15782 for 150 just to collect a bit out of boredom...
  • #183,332
  • Jun 29, 2009 10:21am Jun 29, 2009 10:21am
Quoting arezab
Daily chart suggests more up move to come unless 156.70 is breached to the downside.

RSI still over 50 and stoch rising and most importantly candlestick pattern is showing buyers in control.

If bulls continue 167.30 would be fair as next stop.
Hi arezab!

What do you think Sir about this kinda H & S on daily charts, is invalidated now? I mean, if price close above what levels?

Thanks!

Btw, price is above daily Gann now, what it means bullish pressure.

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #183,333
  • Jun 29, 2009 10:25am Jun 29, 2009 10:25am
Quoting arezab
Daily chart suggests more up move to come unless 156.70 is breached to the downside.

RSI still over 50 and stoch rising and most importantly candlestick pattern is showing buyers in control.

If bulls continue 167.30 would be fair as next stop.
I agree, 4hr trendline broken to upside...may be contained at 15958, so I'll grab TP at 15942 just incase we drop from there, re-enter (and re-assess) on pull back and possibly shoot for 166/67 if volume jumps in.
  • #183,334
  • Jun 29, 2009 10:33am Jun 29, 2009 10:33am
bull flag broken to up side , 159.50 gives i bet we see 162,5 test , maybe later in London.

i would not be trying to fade this rally until we see some kind of weakness / double top on a 30 min chart. In the overall picture ... the down move 162 to 155 was some kind of flag and this could be a continuation of the up move into that 167 zone someone mentioned. Right now i am looking for 160 test.

GU at tops of channel if this busts a move later 1.6800 on cards , it will be fast up move to lock in traders that would be selling / taking profit into the pros buying. At this point a 200 pip movei n GU would cause a 300 pip move gj

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  • #183,335
  • Jun 29, 2009 11:01am Jun 29, 2009 11:01am
Quoting JhonMonsalve
Hi arezab!

What do you think Sir about this kinda H & S on daily charts, is invalidated now? I mean, if price close above what levels?

Thanks!

Btw, price is above daily Gann now, what it means bullish pressure.

Jhon
This kind of weak H&S pattern is more likely not to play out as expected ... BTW a H&S pattern is tradeable only when the neckline is broken.

Neckline for this one lies at 154.80 ... if broken then a big drop is going to happen otherwise we still going up.
Discipline + Patience - Fear - Greed = Success
  • #183,336
  • Jun 29, 2009 11:07am Jun 29, 2009 11:07am
i put the 50% retrace of the drop from july last year at 167.25. but its got to break 165 first the high from oct 30th.

expect this will fade now in late ny on profit taking, might drop a bit further for profit taking in tokyo, could provide nice entry for long in early london.

If it doesnt fall in late NY on profit taking then I can see 162.5 being tested tomorrow, no profit taking is a very strong sign for a big run tomorrow as the pro's obviously expecting to push it up further. Last time i noticed a rally and then no profit taking, it went straight up a few hundred pips the next day.
  • #183,337
  • Jun 29, 2009 11:08am Jun 29, 2009 11:08am
Quoting malcolmb14
bull flag broken to up side , 159.50 gives i bet we see 162,5 test , maybe later in London.
Agreed. I may get slapped on the hands with my short gbp-s ... will hedge with aud/jpy.
  • #183,338
  • Jun 29, 2009 11:19am Jun 29, 2009 11:19am
4hr trendline broken to up side

15950/60 to 160 area is crucial (labeled) with question mark), if broken to upside then I expect rally to 162/165 or above.

But BEWARE Stop run/manipulation and awaiting complete confirmation of cancelled Head and shoulders formation.

Also, the Daily head and shoulders could actually only be the left shoulder with the head yet to play.

3 senarios I am watching for:

1. Rally to upper daily trend line
2. Retest of 4hr upper trendline before continuation of rally,
3. If 4hr line broken then resumption of downside to 154,152
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  • #183,339
  • Jun 29, 2009 11:20am Jun 29, 2009 11:20am
Quoting arezab
This kind of weak H&S pattern is more likely not to play out as expected ... BTW a H&S pattern is tradeable only when the neckline is broken.

Neckline for this one lies at 154.80 ... if broken then a big drop is going to happen otherwise we still going up.
Thanks Sir! I'm agree, Geppy was unable to break the neckline, at this time at least, besides when price is above daily Gann buy on dips is the key

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #183,340
  • Jun 29, 2009 11:23am Jun 29, 2009 11:23am
Ewokuk Can I ask - what sort of move would constitute profit taking in your mind?
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