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

  • #189,901
  • Aug 19, 2009 10:08pm Aug 19, 2009 10:08pm
Quoting malcolmb14
right now 3 hour down ward channel . Symmetry was broken today double bottom 153.50 zone , approx 61.8% reatrce of move 148 to 163.

unitl 157.50 taken out on 3 hour chart , the trend is still down , although there is a possibility that his is a bull flag .

everyday it seems they come out with some piece of news to hold the markets up . Today it was the fact that we chewed thru more oil in a week than at any other timei n the last 2 years . They are just fabricating stuff now ...did manufacturing take off ? or refineries shut down ?

now if 157.50...
Second on that. If and only if 157.50 is taken out. You have a very good insight malcolmb. Thanks for your opinion.
  • #189,902
  • Aug 19, 2009 10:17pm Aug 19, 2009 10:17pm
Quoting malcolmb14
...

now if 157.50 taken out then for sure we will see 163 test

Attachment
Nothing is for sure except death and a secret Swiss bank account...oops, maybe not the account, but death for sure.
Si vis pacem, para bellum.
  • #189,903
  • Edited 10:30pm Aug 19, 2009 10:18pm | Edited 10:30pm
No other way of looking at it This 1- 5 waves we have from 163... you can clearly see till wave 3 ,... Fourth one can extend to as much as 159.50... not above start of wave 3.. which is at 160.35.. so technically above 160.35... it is Bullish not before that...

So wave 5 will be DEEP.. down. or below wave 3.. that is 153.. whatever..

Thats my penny there... Get off those 5-3 minutes charts.. then you will see.. different view...

In last 2-3 hours it has only gone 15 pips above the previuos high... no biggie...

Guess i am not the one smoking here... lol..
Markets are not Random, they are designed!
  • #189,904
  • Aug 19, 2009 10:24pm Aug 19, 2009 10:24pm
Quoting Raza
No other way of looking at it This 1- 5 waves we have from 163... you can clearly see till wave 3 ,... Fourth one can extend to as much as 159.50... not above start of wave 3.. which is at 160.35.. so technically above 160.35... it is Bullish not before that...

So wave 5 will be DEEP.. down. or below wave 3.. that is 153.. whatever..

Thats my penny there... Get off those 5-3 minutes charts.. then you will see.. different view...

Guess i am not the one smoking here... lol..
Perhaps you are right bro. But there are times when the counting is only up to 3 waves only.. if I'm not mistaken..
  • #189,905
  • Aug 19, 2009 10:31pm Aug 19, 2009 10:31pm
This could be correction on correction.. ABC FROM 153 TO 159.. 1 hr ..

fROM THE ANGLE AND SYMMETRY it looks like its gonna go to 159 before anything..

And just to F** WITH YOUR MIND THEY WILL TAKE THIS TO 154 AREA.. BEFORE NORTH.. SMALL ABC AGAIN ON 15m
Markets are not Random, they are designed!
  • #189,906
  • Aug 19, 2009 10:39pm Aug 19, 2009 10:39pm
Quoting malcolmb14
right now 3 hour down ward channel . Symmetry was broken today double bottom 153.50 zone , approx 61.8% reatrce of move 148 to 163.

unitl 157.50 taken out on 3 hour chart , the trend is still down , although there is a possibility that his is a bull flag .

everyday it seems they come out with some piece of news to hold the markets up . Today it was the fact that we chewed thru more oil in a week than at any other timei n the last 2 years . They are just fabricating stuff now ...did manufacturing take off ? or refineries shut down ?

now if...
cent per cent agreed Mr. Malcolmb...
but still we may see a reversal from 156.60-80...
  • #189,907
  • Aug 19, 2009 10:41pm Aug 19, 2009 10:41pm
Quoting Raza
This could be correction on correction.. ABC FROM 153 TO 159.. 1 hr ..

fROM THE ANGLE AND SYMMETRY it looks like its gonna go to 159 before anything..

And just to F** WITH YOUR MIND THEY WILL TAKE THIS TO 154 AREA.. BEFORE NORTH.. SMALL ABC AGAIN ON 15m
I don't think so, from the acceleration & momentum of the pound & the yen, I don't think we will see 154 any sooner.. just my 2 cents bro..
  • #189,908
  • Aug 19, 2009 10:44pm Aug 19, 2009 10:44pm
Quoting A-speculator
I don't think so, from the acceleration & momentum of the pound & the yen, I don't think we will see 154 any sooner.. just my 2 cents bro..
LETS SEE.. from Divergence on RSI.. i concluded that.... I am short.. will short again at 156.35..
Markets are not Random, they are designed!
  • #189,909
  • Aug 19, 2009 10:47pm Aug 19, 2009 10:47pm
One thing is obvious

No one knows where it's going
New voice message: Why are you calling me? If I need you, I'll call you!
  • #189,910
  • Aug 19, 2009 10:48pm Aug 19, 2009 10:48pm
Quoting Raza
LETS SEE.. from Divergence on RSI.. i concluded that.... I am short.. will short again at 156.35..
No problemo.. The choice is yours.
  • #189,911
  • Aug 19, 2009 10:50pm Aug 19, 2009 10:50pm
Anyway, please watch out for the massive sell off for yen recently. I think, that is the cause that will bring GJ higher.
  • #189,912
  • Aug 19, 2009 10:53pm Aug 19, 2009 10:53pm
The best advise now is stay on the sidelines...

Best is wait until next week and you clear of where is the direction, only

then go into the trade. Trade safe(Embedded in my mind 'cause somebody
keep on repeating it)
Read the entire market, money is made on the main trend not the fluctuation
  • #189,913
  • Edited 11:13pm Aug 19, 2009 11:01pm | Edited 11:13pm
Quoting KillerWhale
One thing is obvious

No one knows where it's going
Unless we get good GB retail sales news and break 157, it's going into the center of the tiny pink circle.

It's the apex of the bear channel and the ltl of the uptrend to 170. It would be nice to get a break out sooner, but many times the last candle squeaks right into the corner...
Attached Image (click to enlarge)
Click to Enlarge Name: channels.gif Size: 20 KB
  • #189,914
  • Aug 19, 2009 11:17pm Aug 19, 2009 11:17pm
Theory,


If you where one of the big boys and bought this thing once a bottom was clear, you would be sitting on a pile of cash, the only problem is you have to cash out to take profit, (distribution). you wouldnt be able to distribute on low volume (too much risk). the window of time is and has been now, and nearly over might i add. This is to me where the fork in the road lies. once the distribution phase is complete. could: 1. start a new accumulation process of shorts (which would be difficult to do on low volume) 2. Ride this out and hope the good bs news,s bluff isnt called to distribute later (this implies that there is little distribuition now) 3. distribute now, let the bs news run this puppy up on low volume and then accumulate shorts (with a few sucker rallies).....


I am a newbie so take this with a grain of salt, and tell me if my thinking is at least pnted in the right direction...
  • #189,915
  • Aug 19, 2009 11:18pm Aug 19, 2009 11:18pm
What I can see is right now the pound is strengthening along with major sell off of the yen.. I guess we will see more than 157.50 today. Again, just a thought..
  • #189,916
  • Aug 19, 2009 11:21pm Aug 19, 2009 11:21pm
Quoting t2l&l2t
Theory,


If you where one of the big boys and bought this thing once a bottom was clear, you would be sitting on a pile of cash, the only problem is you have to cash out to take profit, (distribution). you wouldnt be able to distribute on low volume (too much risk). the window of time is and has been now, and nearly over might i add....
If you are talking about to open a new position, I would suggest to wait after the news (don't enter now cause it would be a gamble) but if you are already in the position, my opinion is you can swing your position and perhaps take half of the profit @ 158 or 160.. your choice..
  • #189,917
  • Aug 19, 2009 11:36pm Aug 19, 2009 11:36pm
Quoting A-speculator
What I can see is right now the pound is strengthening along with major sell off of the yen.. I guess we will see more than 157.50 today. Again, just a thought..
yes maybe 158.30
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy20_08_2009.gif Size: 20 KB
  • #189,918
  • Aug 19, 2009 11:42pm Aug 19, 2009 11:42pm
Quoting bshcom
yes maybe 158.30
Well, if you count the whole rise from 146 - 163 as wave 1 and 163 - 153.5 as wave 2, maybe you can see that wave 3 might be more than 163. Don't you think so? Anyway, maybe i'm wrong but I think that your count specifically the 2nd wave.. don't you think that wave 2 suppose cannot be more than 61% fibo of wave 1?
  • #189,919
  • Aug 19, 2009 11:50pm Aug 19, 2009 11:50pm
its bouncing off the UTL and the 76.4 retrace of yesterday mornings down move, come on you little s*%$ get down there
  • #189,920
  • Aug 19, 2009 11:57pm Aug 19, 2009 11:57pm
Quoting ewokuk
its bouncing off the UTL and the 76.4 retrace of yesterday mornings down move, come on you little s*%$ get down there
Smoke... some Coffe beans.... then it will..
Markets are not Random, they are designed!
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