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

  • #184,121
  • Jul 9, 2009 3:03am Jul 9, 2009 3:03am
Quoting Raza
True about Gann..

Most I AM looking for Down SIDE is 143xx

For up side 163xx... and Higher.. I know its very hard to believe.

1hr bar just close above the blue moving average so i am looking for it to test and pick my entry while 4hrs react to a very bullish scenario to test the channel that got broken this week..
well said yesterday piters 153 and so far we might get there and continue bearish 145 is possible but weekly and monthly still bearish flag..
what u think master?
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MY OPINION NOT FINANCIAL ADVISE
  • #184,122
  • Edited 3:15am Jul 9, 2009 3:06am | Edited 3:15am
Thin and hairy summer markets are approaching fast. I expect to see wild and volatile swings over the next few weeks.

Regarding yesterday, as posted when price was at 147-148 level, I exited the majority of my shorts from 15808 and stood aside for re-entry as I tried to anticipate the next PA. As price rose through 149 a quick long was thrown in to do a little harvesting.
Charts:
Weekly created lower trendline of Uptrend, time will tell if this senario rings true.
Daily chart at end of today will be clearer in direction, but 4hrs shows stalling here at 150 23.6 Fib.
2 reasons for stalling here, 150 is major resistance, but was cut through yesterday as if didnt exist. I am looking for sellers here, if breached then I will assume (never assume anything in the markets BTW lol) rise will continue to 15190/15200, 15350/15360 and 155 area.
Yesterday was interesting for me because a focus of change in the markets occurred. Normally Forex follows what is happening in other markets, but yesterday I noted the markets followed Forex.
The quick downspike in U/J caused Gold and Oil to tumble along with a few other major ripples across the board. This is significant to me for a number of reasons, one of which was commodities traders asking “Why?, and why the quick recovery in price?” All fingers were quick to point to the U/J as the culprit. The Yen is waking up again this summer, and a repeat of last summer is a real possibility.
Yesterday was a warning and a sign of movements to come, the markets have changed.
I remain flexible though, and waiting to see how long this quick “long Scout” of mine lives for, before getting caught in the Combine Harvester’s blades. (Wonder what would happen if BOE dropped rates today to 0.25 or even Zero...)
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  • #184,123
  • Jul 9, 2009 3:08am Jul 9, 2009 3:08am
Quoting donfriday
1hr bar just close above the blue moving average so i am looking for it to test and pick my entry while 4hrs react to a very bullish scenario to test the channel that got broken this week..
well said yesterday piters 153 and so far we might get there and continue bearish 145 is possible but weekly and monthly still bearish flag..
what u think master?
4Hr chart starting to look like our weekly chart:nerd:

154xx then 144xx.. imo.

master
Markets are not Random, they are designed!
  • #184,124
  • Jul 9, 2009 3:17am Jul 9, 2009 3:17am
Quoting direct-trade
Thin and hairy summer markets are approaching fast. I expect to see wild and volatile swings over the next few weeks.

Regarding yesterday, as posted when price was at 147-148 level, I exited the majority of my shorts from 15808 and stood aside for re-entry as I tried to anticipate the next PA. As price rose through 149 a quick long was thrown in to do a little harvesting.
Charts:
[font=Calibri][size=3]Weekly created lower trendline of Uptrend,...

Very good analysis..

Like your weekly chart,,, Mine Ditto.

As for 4 Hr chart..If it goes to 160xx... it will be making an inverted Head and Shoulder..and IF so you can measure the size of the Head and inverse it,,,!!!

I hope no body is shorting yet.
Markets are not Random, they are designed!
  • #184,125
  • Jul 9, 2009 3:18am Jul 9, 2009 3:18am
Quoting Raza
4Hr chart starting to look like our weekly chart:nerd:

154xx then 144xx.. imo.

master
Every man and his dog on TV are talking about retesting the neckline and moving further down on many instrument. As such I think there is likely to be a twist.
  • #184,126
  • Jul 9, 2009 3:27am Jul 9, 2009 3:27am
Quoting alearner
Every man and his dog on TV are talking about retesting the neckline and moving further down on many instrument. As such I think there is likely to be a twist.
I know, but this is some of the best advice I have come across on FF...


"One last word of advice: ignore the news and pay no mind to the fundamental whack jobs that will try to peg direction of a currency as well as cause for that direction on some thing or another; be it oil, a hurricane, sunspots, Alan Greenspan, etc. They will mess with your mind and cause you to make bad decisions. Only you and price should determine where and when you make a trade. Let nothing else influence you. You will regret it as 99.9999% of the so-called fundamental analysts are themselves, pseudo forum rockstars. They cannot be trusted and often themselves are on the losing side when the trend goes against their higher form of intellect. Too many accounts have been damaged and/or destroyed due to new and naive traders heeding the words of these false prophets and soothsayers. They really should all be stoned."

Quoted from Mudd, many thanks bro.


  • #184,127
  • Jul 9, 2009 3:37am Jul 9, 2009 3:37am
Quoting direct-trade
I know, but this is some of the best advice I have come across on FF...


[color=#17365d][font=Arial, sans-serif][size=3]"One last word of advice: ignore the news and pay no mind to the fundamental whack jobs that will try to peg direction of a currency as well as cause for that direction on some thing or another; be it oil, a hurricane, sunspots, Alan Greenspan, etc. They will mess with your mind and cause you to make bad decisions. Only you and price should determine where and when you make a trade. Let nothing else influence...


i wrote u a check and signed to it very safe to withdraw...agreed
MY OPINION NOT FINANCIAL ADVISE
  • #184,128
  • Jul 9, 2009 4:15am Jul 9, 2009 4:15am
Just food for thought...

Jap. yesterday was alarmed at sudden rise of Yen. Spoke of immediate intervention and would take action to sustain price above 90. Idle threat? Doubt it.
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  • #184,129
  • Jul 9, 2009 5:21am Jul 9, 2009 5:21am
If you take a look at how ES has rallied strongly overnight, it is no surprise that the Yen crosses have gained. I'm not trusting this as anything other than a short squeeze, but we'll see.

Also, not extraordinary volume on the last 4hr bar, which signifies to me that sellers have merely stepped out....

No longs for me until US session shows it's hand.
  • #184,130
  • Jul 9, 2009 5:21am Jul 9, 2009 5:21am
Quoting direct-trade
Just food for thought...

Jap. yesterday was alarmed at sudden rise of Yen. Spoke of immediate intervention and would take action to sustain price above 90. Idle threat? Doubt it.
Do you have a link to the source of this Japanese alarm please?
  • #184,131
  • Jul 9, 2009 5:27am Jul 9, 2009 5:27am
Quoting ukdaytrader
Do you have a link to the source of this Japanese alarm please?
Was mentioned during CNBC currency discussion this morning. Im sure it will be mentioned a few more times today, if I find a mention on google I'll post it.
  • #184,132
  • Jul 9, 2009 5:28am Jul 9, 2009 5:28am
Quoting direct-trade
Was mentioned during CNBC currency discussion this morning. Im sure it will be mentioned a few more times today, if I find a mention on google I'll post it.
OK, thanks.
  • #184,133
  • Jul 9, 2009 5:32am Jul 9, 2009 5:32am
Short 15046
  • #184,134
  • Jul 9, 2009 5:40am Jul 9, 2009 5:40am
Long Scout was killed by freindly fire (myself), Short scout sent out before BOE announcement.
  • #184,135
  • Jul 9, 2009 5:42am Jul 9, 2009 5:42am
Quoting direct-trade
Short 15046
lock in the pips DT this could be just a retrace to 1h gann at 14990 area. And we are close to news
  • #184,136
  • Jul 9, 2009 5:48am Jul 9, 2009 5:48am
just want to share something. this has strugled to cross that yellow line many times. it might be just taking a dip to pick up more byers to break thrugh. but if it closes and confirmed below the gan then down down we go again.
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  • #184,137
  • Edited 6:11am Jul 9, 2009 5:54am | Edited 6:11am
Quoting Macedonia
lock in the pips DT this could be just a retrace to 1h gann at 14990 area. And we are close to news
Sure, just grabbing a few pips here and there. Quick small short just incase BOE throws in a surprise in a few minutes....

UPDATE:

No surprises then, QE to continue till end August. Smell Sellers at 15125/35, Short scout being thrown around and has sustained Blast injuries, but he's a stubborn lill ole soul and determined to find the enemy positions...never know, he might even make it back below 15046 shaken but not stirred.
  • #184,138
  • Jul 9, 2009 6:36am Jul 9, 2009 6:36am
Hehe, nice post. Same here, this old foot soldier tries to keep fighting the bulls. I live in a bull fighting nation anyway!
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  • #184,139
  • Jul 9, 2009 6:44am Jul 9, 2009 6:44am
Be careful friends with shorts since it has bounced off the lower TL joining last two lows as per attached daily chart. RSI/CCI turning upwards also confirms the same for the time being.

Balaji
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  • #184,140
  • Jul 9, 2009 6:58am Jul 9, 2009 6:58am
let see who wins i am witn bull till 4hrs say no i will step back..trade your chart.
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MY OPINION NOT FINANCIAL ADVISE
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