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

  • #188,361
  • Aug 10, 2009 2:14pm Aug 10, 2009 2:14pm
Quoting GreekEagle
I gave you guys this old news 5 days ago but you were all busy attacking me that its to long to read you all been listening to the tTO BIG TO FAIL

I paid attention .... read it twice ....
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  • #188,362
  • Aug 10, 2009 2:33pm Aug 10, 2009 2:33pm
Quoting sofia101
Well just like I said now I will buy
Things starting to look bullish now?
  • #188,363
  • Aug 10, 2009 2:39pm Aug 10, 2009 2:39pm
Quoting Temps
Things starting to look bullish now?
lol not yet ...

today is sell day has been all day .

Often it takes another session like Asia , or London to reverse a major trend , or unless some major news itesm comes out during US session

This is just a very low volume flag forming here , max test 1.6500

Attached Image (click to enlarge)
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  • #188,364
  • Aug 10, 2009 2:46pm Aug 10, 2009 2:46pm
Quoting Temps
Things starting to look bullish now?

this should give you a better idea .

There are a lot of high volume pivots in this zone , a clsuter at 1.6500 and a cluster at 420 to 380

we may spend some time bouncing around in here

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  • #188,365
  • Aug 10, 2009 2:51pm Aug 10, 2009 2:51pm
Quoting malcolmb14
this should give you a better idea .

There are a lot of high volume pivots in this zone , a clsuter at 1.6500 and a cluster at 420 to 380

we may spend some time bouncing around in here

Attachment
I also saw on 15 min volume coming in quite high on GU, maybe buyers stepping in (?) Any comment?
  • #188,366
  • Aug 10, 2009 2:57pm Aug 10, 2009 2:57pm
Quoting malcolmb14
lol not yet ...

today is sell day has been all day .

Often it takes another session like Asia , or London to reverse a major trend , or unless some major news itesm comes out during US session

This is just a very low volume flag forming here , max test 1.6500

Attachment
  • #188,367
  • Aug 10, 2009 2:58pm Aug 10, 2009 2:58pm
Quoting mktjong
I also saw on 15 min volume coming in quite high on GU, maybe buyers stepping in (?) Any comment?

buyers yes ... double high volume pivots where that happened .. liekly orders sitting there just got filled. Those buyers will be cursing OCO later today as GU moves towards 1.6200..lol
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  • #188,368
  • Edited 3:41pm Aug 10, 2009 3:05pm | Edited 3:41pm
Quoting mktjong
I also saw on 15 min volume coming in quite high on GU, maybe buyers stepping in (?) Any comment?
I'm thinkn a recovery to 1.67 area before the next leg dn myself. . . looks a bit OS IMO. . .
  • #188,369
  • Aug 10, 2009 3:08pm Aug 10, 2009 3:08pm
Quoting malcolmb14
buyers yes ... double high volume pivots where that happened .. liekly orders sitting there just got filled. Those buyers will be cursing OCO later today as GU moves towards 1.6200..lol
1.62 then 1.59 I'm thkn is a gd target after a bit of recovery. . . Lots of BS news out this week so we may see things shift a bit. . .
  • #188,370
  • Aug 10, 2009 3:26pm Aug 10, 2009 3:26pm
Quoting quecee5
I'm thinkn a recovery to 1.67 area before the next leg dn mmyself. . . looks a bit OS IMO. . .
What? 1.67, Q? must be kidding ..
  • #188,371
  • Aug 10, 2009 3:36pm Aug 10, 2009 3:36pm
Quoting mktjong
What? 1.67, Q? must be kidding ..
  • #188,372
  • Aug 10, 2009 3:40pm Aug 10, 2009 3:40pm
Quoting mktjong
What? 1.67, Q? must be kidding ..

keep open mind .... when weekly did this in nov 2007 we retraced 61.8 of initial drop . That right now would take us back to 1.6800

there is of course that resistance at 1.6600 now
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  • #188,373
  • Aug 10, 2009 4:31pm Aug 10, 2009 4:31pm
Planning to go long tomorrow taking the following into account:

1. Weekly - macd and rsi bullish, short term trend up
2. Daily - macd good, rsi pointing down but not below 50, short term trend up
weekly and daily: short term trend is up = correlation = long

Support and resistance: 4 hour chart shows current price dancing on support.

Timing - may expect further weakness into London open, thereafter trade balance later in the morning.

Taking trade balance figures and US futures into account will be final box to tick before pulling trigger.
Attached Image (click to enlarge)
Click to Enlarge Name: 10.08.09 gbp.06ff.gif Size: 32 KB
  • #188,374
  • Aug 10, 2009 4:35pm Aug 10, 2009 4:35pm
Quoting I like steak
Planning to go long tomorrow taking the following into account:

1. Weekly - macd and rsi bullish, short term trend up
2. Daily - macd good, rsi pointing down but not below 50, short term trend up
weekly and daily: short term trend is up = correlation = long

Support and resistance: 4 hour chart shows current price dancing on support.

Timing - may expect further weakness into London open, thereafter trade balance later in the morning.

Taking trade balance figures and US futures into account will be final box to tick before pulling trigger....

right or wrong ... lovely post .... reasons / charts .. the works. Great job
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  • #188,375
  • Aug 10, 2009 4:45pm Aug 10, 2009 4:45pm
Quoting I like steak
Planning to go long tomorrow taking the following into account:

1. Weekly - macd and rsi bullish, short term trend up
2. Daily - macd good, rsi pointing down but not below 50, short term trend up
weekly and daily: short term trend is up = correlation = long

Support and resistance: 4 hour chart shows current price dancing on support.

Timing - may expect further weakness into London open, thereafter trade balance later in the morning.

Taking trade balance figures and US futures into account will be final box to tick before pulling trigger....
Nice job. . .

But also consider monthly as well. . . I see a nice doji from last month and from my expierence that pin is always retraced at a min of 38%-62% before continuing its trend. . . monthly 5 sma could be a gd support (155.60 area) target if we continue this brief correction before completing the bull cycle (wave 5 of 5) - estimated target 165.80/167.30 area. . .

Now what we could see over the next session is a run to the upside (as indicated by the 1hr chart) back to check resistance at dpp @ 160.80- area then dn from there to complete this consolidation period. . .

I do agree that we will see a new high but I believe we will see a retrace lower before that happens. . .

Just food for thought. . .
  • #188,376
  • Aug 10, 2009 4:46pm Aug 10, 2009 4:46pm
Quoting I like steak
Planning to go long tomorrow taking the following into account:

1. Weekly - macd and rsi bullish, short term trend up
2. Daily - macd good, rsi pointing down but not below 50, short term trend up
weekly and daily: short term trend is up = correlation = long

Support and resistance: 4 hour chart shows current price dancing on support.

Timing - may expect further weakness into London open, thereafter trade balance later in the morning.

Taking trade balance figures and US futures into account will be final box to tick before pulling trigger....

Target: as per daily the first resistance is 165, thereafter 170 (38.2 fib)
Attached Image (click to enlarge)
Click to Enlarge Name: 10.08.09 gbp daily.06ff.gif Size: 40 KB
  • #188,377
  • Aug 10, 2009 4:52pm Aug 10, 2009 4:52pm
Quoting quecee5
Nice job. . .

But also consider monthly as well. . . I see a nice doji from last month and from my expierence that pin is always retraced at a min of 38%-62% before continuing its trend. . . monthly 5 sma could be a gd support (155.60 area) target if we continue this brief correction before completing the bull cycle (wave 5 of 5) - estimated target 165.80/167.30 area. . .

Now what we could see over the next session is a run to the upside (as indicated by the 1hr chart) back to check resistance at dpp @ 160.80- area then dn from there to...
Thank you quecee and malcolmb - will keep this in mind.
  • #188,378
  • Aug 10, 2009 4:53pm Aug 10, 2009 4:53pm
interesting gold charts

mark down on low volume then accumulation all day....

something is going down soon ... this is very obvious that gold may head up

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  • #188,379
  • Aug 10, 2009 4:54pm Aug 10, 2009 4:54pm
Quoting I like steak
Target: as per daily the first resistance is 165, thereafter 170 (38.2 fib)
Also, another note. . . if u take a look at the weekly chart (MACD) do you find is peculiar that we saw a new high last week however MACD did not recognize it and is steadily diverging south????

Take a looke at the 1st high we made back in June at 162.56 area and line that up with MACD. . . Then draw a horizontal line from last weeks high and line that up with MACD. . . Do u find that peculiar?. . .

Also from the looks of the daily chart MACD is also diverging lower. . .

Just food for thought. . . Trade yr chart!
  • #188,380
  • Aug 10, 2009 5:06pm Aug 10, 2009 5:06pm
Anyone please help. Whats the relationship or rather correlation between the CNY and the GBP & the Yen?
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