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

  • #194,141
  • Sep 3, 2009 10:29am Sep 3, 2009 10:29am
Quoting donfriday
bro dont u think California issue can stick affect dollar for a while?..i'm so poor in news but just observation.
hey, i guess we are in the same boat. I hardly understand fundamental issues. I can only view them as a laymen point of view. I guess that is because we are technical trader.. Anyway, the news doesn't sound good for economy expansion, don't u think?
  • #194,142
  • Sep 3, 2009 10:29am Sep 3, 2009 10:29am
c what happen b4 long rest
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  • #194,143
  • Sep 3, 2009 10:32am Sep 3, 2009 10:32am
Quoting grashid
c what happen b4 long rest
Never try low time frame ok, H1 still good, but i also use lot of other things to consider, and the votes from expert in here too. So now i think bearish is to my liking . Anyway, the maker of Gartley Indi said it correct 70% of the times so be careful while using it too k.
  • #194,144
  • Sep 3, 2009 10:33am Sep 3, 2009 10:33am
Malcom, Is this another range where you can make a living out of? ie 151.15-151.50
S
  • #194,145
  • Edited 10:49am Sep 3, 2009 10:34am | Edited 10:49am
its in selling zone for me between yellow MA and light blue MA, failed to break the UTL, again made lower high. does look like a retrace in the down move, same as the last 2 attempts at the trendline, looks very symmetrical. it might go up again and test resistance at 152.30 but i wouldnt be surprised if it didnt even reach 151.50 again before the drop. The Ma's have formed a very consistent downtrend now. its also below the 200 day MA at 155.48.
/
clear as day for me, unless it gets above 152.30 and stays there, i think its going lower. also heard something about new jap government saying strong yen is good and intervention in economy would not be though forex intervention, so no worries about intervention pushing it back up.
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  • #194,146
  • Sep 3, 2009 10:34am Sep 3, 2009 10:34am
Quoting Minakata
Never try low time frame ok, H1 still good, but i also use lot of other things to consider, and the votes from expert in here too. So now i think bearish is to my liking . Anyway, the maker of Gartley Indi said it correct 70% of the times so be careful while using it too k.

noted...gu h1 n h4 look nice as well ya
  • #194,147
  • Sep 3, 2009 10:34am Sep 3, 2009 10:34am
Quoting A-speculator
hey, i guess we are in the same boat. I hardly understand fundamental issues. I can only view them as a laymen point of view. I guess that is because we are technical trader.. Anyway, the news doesn't sound good for economy expansion, don't u think?

look at ur gj chart...1hr above alligator teeth , bullish---4hrs corrective zone no direction=---daily wise man 1 signal bullish...look at 4hrs AO..and daily AO..selling is very dangerous..if u understand profitunity system u will not sell gj right now..
i just dont read news even my country news i dont listen or buy new paper...
no time , reading chart is enough for me and it prove me right and wrong, i wont let my failure let me down rather i make correction of it...
read the trading chaos 2nd edition very well u will understand what i mean.
MY OPINION NOT FINANCIAL ADVISE
  • #194,148
  • Sep 3, 2009 10:36am Sep 3, 2009 10:36am
Quoting A-speculator
Trichet Expects ‘Uneven’ Recovery, Signals No Rush on Exit - bloomberg

Is that mean that they are not confident of the recovery? So where are we heading? Hope someone here can solve this puzzle for me..
It means ECB expects L-shape recovery - "bumpy road" like Trishet says
"No rush on exit" means no rate hikes near future. So, we will definitely see L but only in EURUSD as the carry trade.

IMHO there is NO recovery at all - it's just correction before the 2nd wave of crisis. Analysis of GJ since 1980s shows that we still have room to go down into 2nd leg coz yearly GJ trend is down. Monthly RSI shows that we have some time to get it to overbought zone but it's near there already. My fib-time tool shows that the next drop will be around mid-Oct when the 3Q earnings will disappoint stockers and the REAL credit crunch will unfold. 50% shrinkage in manufacturing won't go by just easy, last year credits are taken in full 100% capacity view
  • #194,149
  • Sep 3, 2009 10:38am Sep 3, 2009 10:38am
Quoting grashid
c what happen b4 long rest
cantik.. tunggu kutip pip hijau guni2
  • #194,150
  • Sep 3, 2009 10:42am Sep 3, 2009 10:42am
Quoting donfriday
look at ur gj chart...1hr above alligator teeth , bullish---4hrs corrective zone no direction=---daily wise man 1 signal bullish...look at 4hrs AO..and daily AO..selling is very dangerous..if u understand profitunity system u will not sell gj right now..
i just dont read news even my country news i dont listen or buy new paper...
no time , reading chart is enough for me and it prove me right and wrong, i wont let my failure let me down rather i make correction of it...
read the trading chaos 2nd edition very well u will understand what i mean.
woowoo... i know what you mean. what I can say that you directly translate BW method into trade. It may works, but sometime you need to consider other things too.. try to use his methodology instead of directly translate it into real life. It will be like translating Japanese to English. All the wisemen entry are examples or guidelines to further understands his theory. By time, i'm sure you will have your own unique view of the market. Cheers bro..
  • #194,151
  • Sep 3, 2009 10:43am Sep 3, 2009 10:43am
it's a bearish pattern, and you should target at least 61.8 of last rally - but since this is a continuation of downtrend, it will most probably go lower than butterfly (or gartley?) absolute minimum.
here's my version.

Quoting grashid
who can help me to xplain about this butterfly?its correct to read like this?what does this mean?somethings new to me to learn......
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Nihil Sine Deo.
  • #194,152
  • Sep 3, 2009 10:44am Sep 3, 2009 10:44am
Quoting donfriday
look at ur gj chart...1hr above alligator teeth , bullish---4hrs corrective zone no direction=---daily wise man 1 signal bullish...look at 4hrs AO..and daily AO..selling is very dangerous..if u understand profitunity system u will not sell gj right now..
i just dont read news even my country news i dont listen or buy new paper...
no time , reading chart is enough for me and it prove me right and wrong, i wont let my failure let me down rather i make correction of it...
read the trading chaos 2nd edition very well u will understand what i mean.
i saw above 151.80 in order for to go for 153.5-157 or back to 160.25 area....otherwise....148.40/50-147-141.50-135.50 (136 pb) are there.....how about urs?....
  • #194,153
  • Sep 3, 2009 10:45am Sep 3, 2009 10:45am
Quoting aim
It means ECB expects L-shape recovery - "bumpy road" like Trishet says
"No rush on exit" means no rate hikes near future. So, we will definitely see L but only in EURUSD as the carry trade.

IMHO there is NO recovery at all - it's just correction before the 2nd wave of crisis. Analysis of GJ since 1980s shows that we still have room to go down into 2nd leg coz yearly GJ trend is down. Monthly RSI shows that we have some time to get it to overbought zone but it's near there already. My fib-time tool shows that the next drop will be around...
I think right now, it's more of a Z-shape recovery, then turn to W-shape and then maybe inverted L-Shape where all hell breaks loose.. ahahahahah
  • #194,154
  • Sep 3, 2009 10:46am Sep 3, 2009 10:46am
and here is the current situation. i think we may have a high for the day. sellers @ 151.75, buyers @ 151.04.

this might be the range until tokyo starts. patience... it'll move soon.
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Nihil Sine Deo.
  • #194,155
  • Sep 3, 2009 10:48am Sep 3, 2009 10:48am
Quoting A-speculator
woowoo... i know what you mean. what I can say that you directly translate BW method into trade. It may works, but sometime you need to consider other things too.. try to use his methodology instead of directly translate it into real life. It will be like translating Japanese to English. All the wisemen entry are examples or guidelines to further understands his theory. By time, i'm sure you will have your own unique view of the market. Cheers bro..

all u need to hard is candle or bars and PA...it done.. it takes time take a look at what u miss.
Attached Image
MY OPINION NOT FINANCIAL ADVISE
  • #194,156
  • Sep 3, 2009 10:48am Sep 3, 2009 10:48am
Quoting A-speculator
I think right now, it's more of a Z-shape recovery, then turn to W-shape and then maybe inverted L-Shape where all hell breaks loose.. ahahahahah
Yankees lost in their shapes
  • #194,157
  • Sep 3, 2009 10:52am Sep 3, 2009 10:52am
Quoting grashid
i saw above 151.80 in order for to go for 153.5-157 or back to 160.25 area....otherwise....148.40/50-147-141.50-135.50 (136 pb) are there.....how about urs?....


according to daily we might test 153 or 154...but i am waiting for 4hrs breakout...
maybe tomorrow.....bulls hitting the market for now no sellers on my end here.
MY OPINION NOT FINANCIAL ADVISE
  • #194,158
  • Sep 3, 2009 10:53am Sep 3, 2009 10:53am
Quoting donfriday
all u need to hard is candle or bars and PA...it done.. it takes time take a look at what u miss.
I know we are approaching a major retracement, the question is when and at what price? since we are currently in the channel and the price action still has not invalidate the typical PA for the downtrend (no higher high, no breakot, etc...) let's just stick to the downtrend bias. Unless the price shows different story we can then find ourselves the proper pos to long. I hope that clears everything.
  • #194,159
  • Sep 3, 2009 10:54am Sep 3, 2009 10:54am
how is that? exactly what from daily chart makes you believe that?

Quoting donfriday
according to daily we might test 153 or 154...but i am waiting for 4hrs breakout...
maybe tomorrow.....bulls hitting the market for now no sellers on my end here.
Nihil Sine Deo.
  • #194,160
  • Sep 3, 2009 10:55am Sep 3, 2009 10:55am
What the F is going on with GOLD?
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