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

  • #183,341
  • Jun 29, 2009 11:37am Jun 29, 2009 11:37am
Quoting gillybabe
Ewokuk Can I ask - what sort of move would constitute profit taking in your mind?
i think if it drifts back much below 158.75 towards the end. very bullish sign for me if it stays above 159 at the close but usually its going to drop a bit towards the end. ill wait and see where it is at end of tokyo, hoping it drops overnight cos im not gonna want to go long in the morning if its continued on up overnight.
  • #183,342
  • Jun 29, 2009 11:39am Jun 29, 2009 11:39am
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.

nice chart mate.....i dont really see any bear yet till we get to the top and see how it play out...the daily bar that play last week low at 154.05 was a divergence bar and the HS and neckline still not out of the picture we also have some serious news to move this stuffs this week and i am expecting a tank or new july price ....the scenario to tank will play out but likely in the summer from last year bear rally to repeat again while the pro entry from that point ..take a look at the daily hammer reversal's while we rise since this year low 118.84 it likely to play out again and possible we double top or break 162.58 to see 167 on fibo 50%...IMHO ...till now i have a long and not ready to tp till i see any possible reversal at 160 if we get there...
trade your chart ..trend is your friend.
MY OPINION NOT FINANCIAL ADVISE
  • #183,343
  • Jun 29, 2009 11:42am Jun 29, 2009 11:42am
Quoting direct-trade
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...
Out at 15902 +122, will do for today.
  • #183,344
  • Jun 29, 2009 11:52am Jun 29, 2009 11:52am
Quoting direct-trade
Out at 15902 +122, will do for today.

good plan and chart i hate to short this pair..just imagine what daily look like...the scenario might change but till now i have been bull when my last week short closed in profit i locked overnight....
this is my chart and looking to see 160 again
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MY OPINION NOT FINANCIAL ADVISE
  • #183,345
  • Jun 29, 2009 12:47pm Jun 29, 2009 12:47pm
Seems we are getting some bearish divergence in the hourly cable chart, let's see how this plays out.
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  • #183,346
  • Jun 29, 2009 1:54pm Jun 29, 2009 1:54pm
Quoting malcolmb14
bull flag broken to up side , 159.50 gives i bet we see 162,5...

Hi Malc,

Do you think 158.25 is a good place to long? Is there any chance that we get there?
  • #183,347
  • Jun 29, 2009 2:13pm Jun 29, 2009 2:13pm
Quoting azibi
Seems we are getting some bearish divergence in the hourly cable chart, let's see how this plays out.

let see how this play out for 3hrs more till asia open.. bearish divergence to test 50% daily still bullish so we should see a big move this week...
trade your chart...miss you my buddy silent room today ....
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MY OPINION NOT FINANCIAL ADVISE
  • #183,348
  • Jun 29, 2009 3:22pm Jun 29, 2009 3:22pm
not convinced this will drop much from here unless something happens, virtually no profit taking at all at NY or london close after a 240 pip rally low to high, which I take to mean the pro's with the big bucks are very confident the rally is not over.

ill buy any dips, but not totally convinced there will even be any.
  • #183,349
  • Jun 29, 2009 4:18pm Jun 29, 2009 4:18pm
I agree that all looks very bullish. Everwhere I read everybody is very bullish. By now alll the people that wanted to be long ARE long. It seems the whole world is long and THAT scares me a bit. I would not be surprised that after UK figs we will go up a bit further where massive distribution takes place and if figs come out slightly worse as expected this may lead to a good collapse or profit taking. Having said that I have the feeling that during those G8/10/22 meetings governments have decided and agreed to manipulate there eco releases in such a way that it all looks "moderately" positive. Apart from Japan all news out from whatever country seems "moderately" positive.......Anyways I wouldn't go long at these levels anymore....
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  • #183,350
  • Jun 29, 2009 4:31pm Jun 29, 2009 4:31pm
Quoting azibi
I agree that all looks very bullish. Everwhere I read everybody is very bullish. By now alll the people that wanted to be long ARE long. It seems the whole world is long and THAT scares me a bit. I would not be surprised that after UK figs we will go up a bit further where massive distribution takes place and if figs come out slightly worse as expected this may lead to a good collapse or profit taking. Having said that I have the feeling that during those G8/10/22 meetings governments have decided and agreed to manipulate there eco releases in such...
i cant agree with u more. if everyone is long, why should usd take the brunt. hahaha
  • #183,351
  • Jun 29, 2009 6:14pm Jun 29, 2009 6:14pm
seems that the strong upmoves in gbp/usd amd gbp/yen take place under low volume......We saw some better than expecten Jap figures. Usd/yen should retreat a it more.....Am going for 5 hours rest now. See you in the European morning
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  • #183,352
  • Jun 29, 2009 6:55pm Jun 29, 2009 6:55pm
Quoting azibi
I agree that all looks very bullish. Everwhere I read everybody is very bullish. By now alll the people that wanted to be long ARE long. It seems the whole world is long and THAT scares me a bit. I would not be surprised that after UK figs we will go up a bit further where massive distribution takes place and if figs come out slightly worse as expected this may lead to a good collapse or profit taking. Having said that I have the feeling that during those G8/10/22 meetings governments have decided and agreed to manipulate there eco releases in such...

they bought from dip even 154 from the low of last week bar so 160 could be seen again..
this is my post to a friend when i mention my bias is bullish yesterday.
http://www.forexfactory.com/showthre...156875&page=32
MY OPINION NOT FINANCIAL ADVISE
  • #183,353
  • Jun 29, 2009 8:00pm Jun 29, 2009 8:00pm
There seems to be some very large disconnect with news and price lately.

yesterday we had bad data from GBP and the Chinese government flip-flopping back to give the USD the seal of approval.

Just prior to the news Cable jumped up.........then kept going up after the news.

Then last night the Dow rallies hard on low volume......
apparently putting Madoff behind bars for 150 years is good for the market.

seems like manipulation to me.
  • #183,354
  • Jun 29, 2009 8:29pm Jun 29, 2009 8:29pm
As opposing the majority who are reading this, I am strongly bearish at the moment.
SL is 162.56, my final C is at 159.83-160.37/54. I am reading down.
Be waiting for market opening for reaction further on.
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  • #183,355
  • Jun 29, 2009 9:16pm Jun 29, 2009 9:16pm
  • #183,356
  • Jun 29, 2009 9:23pm Jun 29, 2009 9:23pm
Quoting grashid
I hope you're right bro. 4H volume still shows no sign of sellers yet if am correct. One thing positive for your short is Uj is running out of steam ..
  • #183,357
  • Jun 29, 2009 9:27pm Jun 29, 2009 9:27pm
just be carefull out there with the shorts. Price is above daily and 4hr Gann. Pound aint meeting sellers being close to recent high levels!
  • #183,358
  • Jun 29, 2009 9:27pm Jun 29, 2009 9:27pm
Quoting mktjong
I hope you're right bro. 4H volume still shows no sign of sellers yet if am correct. One thing positive for your short is Uj is running out of steam ..
but my M15 told me this...but i could be wrong and let his 159.55 2nd entry react till London..Anyhow 159.75 just manage for 45pips....See you then
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  • #183,359
  • Jun 29, 2009 10:29pm Jun 29, 2009 10:29pm
Quoting pipsbull
just be carefull out there with the shorts. Price is above daily and 4hr Gann. Pound aint meeting sellers being close to recent high levels!

shorts scalping / day trading off 159/80 were good in asia , but on 4 hour trend is still up . We could see break higher into 161 / 162 next US session

This all seems to be being manipulated higher .
Blogging daily now at www.volume.zone
  • #183,360
  • Jun 29, 2009 10:30pm Jun 29, 2009 10:30pm
Quoting grashid
but my M15 told me this...but i could be wrong and let his 159.55 2nd entry react till London..Anyhow 159.75 just manage for 45pips....See you then

just a bull flag setting up I think....

seen buyers 159 on 5 min again

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