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

  • #196,861
  • Edited 9:46pm Sep 11, 2009 5:00pm | Edited 9:46pm
Quoting malcolmb14
england33 .. now what you say buddy ?

I mentioned that this was bearish ... been saying that all week that the up move was weak


here we end 178 pips off recent lows .... NOTHING

153 I said selling rallies all week AND HAPPY DOING SO.... makes the little move 149 to 153 look like nothing 400 pips versus over 700 just selling rallies

and s&p teting years highs .. imagine the carnage if the us indexes have some profit taking .... 140 ? 135 ? those are ARE STILL my target .

What if they profit take in INdexes.(SELL)..and retrace G/J UP.(BUY) also for profit taking from Bears.I might be looking for long off 148.80-148.18..

If we had a Double Top...We should have a Double Bottom and a Bounce.(147.83)

Unless there is an UGLY plan to go right through the SUPPORT..( 147_146_145)
Markets are not Random, they are designed!
  • #196,862
  • Sep 11, 2009 5:01pm Sep 11, 2009 5:01pm
Quoting Maks
Piters, since you are in Gold here is an interesting article about gold:
Should such correlation be valid indeed and taking into account some gold price forecasts the targets of this forecast Dow at 6-7 thousand and gold 3-3.5 thousand.

Which means, WE SHOULD ALL BECOME DWARFS!!!

Inserted Video
  • #196,863
  • Sep 11, 2009 5:08pm Sep 11, 2009 5:08pm
Quoting grashid
soon

  • #196,864
  • Sep 11, 2009 5:18pm Sep 11, 2009 5:18pm
Quoting Sunny66
I'm getting a grab of the technical just have to focus on mental toughness and I should get more consistency, not that I can complain as I have acheived my 1.25% daily goal for five weeks in a row now. If I can be more accurate and selective in my entries I will be able to relieve some stress, I guess this comes with experience.
Excellent.

We all start with get rich overnight delusions (me having been doing it on and for 3 years) and soon find out it is a tough nut to crack. Having been on this board for a few weeks, I have learnt a hell of lot but certainly it is miniscule by comparison.

I am in no position to post charts and views yet. I just don't have the confidence and also there are far smarter people here who are doing a grand job of teaching the likes of me.

Happy Weekend everyone.
None the wiser!
  • #196,865
  • Sep 11, 2009 5:21pm Sep 11, 2009 5:21pm
thanks! glad you find my analysis useful.
anyone can do it, it is not difficult. what you need to figure out is what kind of strategy works for you - are you a swinger trader? or are you a scalper?
from my point of view (i am a "swinger" trader, i try to follow daily/weekly large swings and add to a winning position), you ALWAYS start from the main trend and work your way down - that is, monthly-weekly-daily-to h4 and even lower.
also, you need to learn how to correlate timeframes - this takes some experience, but once you figure it out it's simple.
and then you have your "main structure" and you build on it: EW, VSA and anything else you may like. just fine tuning.

Quoting Sunny66
Can't wait to make analysis like yours dude, much appreciated!!
Nihil Sine Deo.
  • #196,866
  • Sep 11, 2009 5:22pm Sep 11, 2009 5:22pm
Quoting malcolmb14
gu top of channel , and untill that channel is broken seems to be buy dips.

Mrsnipers called this one really well.

If we get a retracement and 1.,6500 holds the next drive could take iut up thru 1.6700 into 1`.7000 test

Elliot wave on daily says we are in wave 5 and this could end at 1.7500. This is yet to be seen

The dialy is going to end on doji right under the 61.8 , so we should get some form of retracement. As i said test 1.6500 / 1.6400 will detemrine if up trend is going to continue or not

Attachment
Thanks.
None the wiser!
  • #196,867
  • Sep 11, 2009 5:24pm Sep 11, 2009 5:24pm
Quoting grashid
...Grashid, you follow F1? You a Fiat fan?
  • #196,868
  • Sep 11, 2009 5:34pm Sep 11, 2009 5:34pm
Quoting I like steak
...Grashid, you follow F1? You a Fiat fan?
nop....just back from sg....n look like sg f1 in trouble in next 2 week....am bmw fan.....mm....fun to see with so many here lately.....so am back in my maria yesterday after quit sometime left her alone.....153-150.50-done....next 147...then..mmm..just not able to scalp n intra in few day...but look like am in a right direction....just curios on gu atm....aiseh
  • #196,869
  • Sep 11, 2009 5:36pm Sep 11, 2009 5:36pm
Quoting grashid
nop....just back from sg....n look like sg f1 in trouble in next 2 week....am bmw fan.....
Hey bro, welcome back
  • #196,870
  • Sep 11, 2009 5:44pm Sep 11, 2009 5:44pm
Quoting mktjong
Hey bro, welcome back
hey...am realy sorry for this few day....not able to make it like usual....damm tired n my brain not able to go for intra in this few day...but still riding my swing setting for 3 of them....lucky i did not put sl 1.67 for gu yesterday....huh....iteresting week next week....finally she react today...hows trading?

Am still same view in my gold b gy since last week....how about u?
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  • #196,871
  • Sep 11, 2009 5:50pm Sep 11, 2009 5:50pm
Quoting grashid
nop....just back from sg....n look like sg f1 in trouble in next 2 week....am bmw fan.....mm....fun to see with so many here lately.....so am back in my maria yesterday after quit sometime left her alone.....153-150.50-done....next 147...then..mmm..just not able to scalp n intra in few day...but look like am in a right direction....just curios on gu atm....aiseh
ok got you...thought the Fiat had something to do with cars...

Fiat Sapientia Virtus = Manliness Through Wisdom.



Yes, I also think it is a scalp to 147.

  • #196,872
  • Sep 11, 2009 5:57pm Sep 11, 2009 5:57pm
Quoting grashid
hey...am realy sorry for this few day....not able to make it like usual....damm tired n my brain not able to go for intra in this few day...but still riding my swing setting for 3 of them....lucky i did not put sl 1.67 for gu yesterday....huh....iteresting week next week....finally she react today...hows trading?

Am still same view in my gold b gy since last week....how about u?
I killed my GU short for a loss. That's ok, next week another opportunity
  • #196,873
  • Edited 6:16pm Sep 11, 2009 5:58pm | Edited 6:16pm
Quoting I like steak
ok got you...thought the Fiat had something to do with cars...

Fiat Sapientia Virtus = Manliness Through Wisdom.



Yes, I also think it is a scalp to 147.
no...its my moto actually...ya correct....appreciate ur finding.

as i told in both gu n gy view in both forum...this week is for scalper n day....n next week perhps will be good start for swing....sell rallies 153 is the starting point as i did stress about 154.50 is the key....but she failed even 153.50...mm...n it mean

1032.50/1033-key of gold but 1011 is 2nd last resistance.....if break 1012.50 then 1032.20/1033 may bring gu n eu as well i think...n not gy....let c how monday react....
  • #196,874
  • Sep 11, 2009 6:01pm Sep 11, 2009 6:01pm
Quoting mktjong
I killed my GU short for a loss. That's ok, next week another opportunity
ya u should....next time...dun greedy n overlevarage....n over confident as well....just pump if pa very very clear to do so...n >80% opinion with an analysis align with our point....
  • #196,875
  • Sep 11, 2009 6:37pm Sep 11, 2009 6:37pm
hmmm...
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  • #196,876
  • Sep 11, 2009 6:43pm Sep 11, 2009 6:43pm
this looks good by the daily candle
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  • #196,877
  • Edited 8:30pm Sep 11, 2009 7:56pm | Edited 8:30pm
Quoting FxClown
Excellent.

We all start with get rich overnight delusions (me having been doing it on and for 3 years) and soon find out it is a tough nut to crack. Having been on this board for a few weeks, I have learnt a hell of lot but certainly it is miniscule by comparison.

I am in no position to post charts and views yet. I just don't have the confidence and also there are far smarter people here who are doing a grand job of teaching the likes of me.

Happy Weekend everyone.
These people are no smarter than you, but they work their ass off and they are passionate about learning, you can do it too.
  • #196,878
  • Sep 11, 2009 8:50pm Sep 11, 2009 8:50pm
If you're interested in the gold bubble

http://www.europac.net/externalframe...99&type=schiff

S
  • #196,879
  • Edited 11:23pm Sep 11, 2009 10:42pm | Edited 11:23pm
GU perspective on the weekly chart

I believe GU is ready for REVERSAL.

GU made a nice retracement since the beginning of the year low 1.3500 to 1.7050 high Resistance level

Based on the Weekly GU charts, I drawn a Major RED Trendline to show that the GU stops at 1.6740 level ..

GU is running out of gas....It will take major fundamentals to break this trendline..

Confirmation for GU bearish bias..A break of the minor BLUE up channel trendline at the 1.6300 level.

Also, GU looks setup for a H & S formation on the daily chart... If the neckline breaks 1.5000 maybe level


UJ perspective on the weekly chart

Based on the fundamentals, yen been strengthen since the beginning of the year and it is still in the downward RED channel.

UJ price action still looks bearish toward the 88-89 level before a possible reversal if the major blue trendline holds.


Overall, GJ made a close to 50% retracement from the low level 118 to high level 215.80

After twice this year rejecting the 163.00 resistance level, price action looks set to test the low of 146.50 support zone shown on my monthly chart.

Based on the GJ monthly chart, two monthly candles rejected the 163.00 resistance zone and only one rejection 146.50 support zone so far.

Since Sept is known for selloff and the fundamentals are bearish, I believe 146.50 support zone will be test again.



My bias overall is Bearish for GJ

GU is approaching a major trendline at the 1.6740 level on the weekly chart and looks set for pullback or REVERSAL..If the bullish blue channel breaks than GU is heading down for new low.

UJ is approaching the weekly trendline at 87-88 level..Price action been bearish for the week and may continue next week. UJ is still in the bearish channel.

146.50 -147.00 is my first target a minor support since that level broke in July twice on the daily chart

140-141.00 is my second level if the 146.50 breaks based on my daily chart fibs level.

136-137 is my last level if all hell breaks loose based on the daily chart fibs level



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  • #196,880
  • Edited Sep 12, 2009 3:07am Sep 11, 2009 11:02pm | Edited Sep 12, 2009 3:07am
Quoting Maks
Piters, since you are in Gold here is an interesting article about gold:

http://goldversuspaper.blogspot.com/...ha-moment.html
thanks Maks.

YES, that is true. We can maybe see DOW over 11000, but that is based on inflation, I mentioned last week, (when a litre milk could cost $10), but we have to actual compare with the value of gold.
It s not the same trading the markets with gold pushing above the 1000 mark and below..

thanks for the chart..
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