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

  • #197,521
  • Sep 15, 2009 11:18am Sep 15, 2009 11:18am
Quoting A-speculator
I am basing on 1h, but don't expect too much out of it.. The momentum for the downtrend is too strong, and at this time, it's only US market.. might only be a retrace due to profit taking.. not the real move.. to be continued tomorrow..
  • #197,522
  • Sep 15, 2009 11:19am Sep 15, 2009 11:19am
Quoting fxtaiko
yes, and 1H candle supporting the information too.
Thank you for your reply, I thought I was making things up. too much screening times and you start seeing mirage lol
  • #197,523
  • Sep 15, 2009 11:21am Sep 15, 2009 11:21am
Quoting Cdawg
Well I don't disagree with you, I would like nothing more than to see this drop further.. I just not getting too excited over "normal" pa behavior for GJ.
Be aware also for Shorts, GU and GY have exceeded its daily range. A bit of consolidation is expected .. imo.
  • #197,524
  • Sep 15, 2009 11:25am Sep 15, 2009 11:25am
Quoting mktjong
Be aware also for Shorts, GU and GY have exceeded its daily range. A bit of consolidation is expected .. imo.
I already took a small long, abit too early, but am pretty confident it will be fine. If not I lose 2%..
  • #197,525
  • Sep 15, 2009 11:26am Sep 15, 2009 11:26am
Quoting JhonMonsalve
Congrats!!

Attachment
I like it
I shorted GU and GJ today as if there is no tomorrow and I just closed all lots, and kept one lot for GJ and one for GU with SL @ BE
  • #197,526
  • Sep 15, 2009 11:31am Sep 15, 2009 11:31am
Good job rgitt, Piters and malcolmb
msinper hard luck in phase 1, but the game didn't end yet.
  • #197,527
  • Sep 15, 2009 11:33am Sep 15, 2009 11:33am
Quoting Cdawg
I already took a small long, abit too early, but am pretty confident it will be fine. If not I lose 2%..
150-150.10 is expected for this consodilation ..
  • #197,528
  • Sep 15, 2009 11:44am Sep 15, 2009 11:44am
I was looking at the charts and I see that Daily 50EMA and 100SMA crossed into bearish pattern. IMO, it will take long time to cross it back in to bullish territory. We may see GJ go to the previous lows 118 or even make a new low end of this year or next year.

Time to make money
Do not follow my trades. Trade what you see on your own charts.
  • #197,529
  • Sep 15, 2009 11:44am Sep 15, 2009 11:44am
if you look at this chart, pvp (control area) for current move is 150.21 area (pink line). it could go up to 150.63 without breaking bearish view (there is a volume spike on that candle that suggests huge selling there).

but rather than going long, i suggest re-shorting after retracement/consolidation is over - if 150.63 is still in place.

Quoting mktjong
150-150.10 is expected for this consodilation ..
Attached Image (click to enlarge)
Click to Enlarge Name: g-j_h1.gif Size: 25 KB
Nihil Sine Deo.
  • #197,530
  • Sep 15, 2009 11:45am Sep 15, 2009 11:45am
You all on shot side may take note of this area, could be very well defended as volumes have suggested so far, long ways down should it let go of MT support
Attached Image(s) (click to enlarge)
Click to Enlarge Name: geppy 4h.png Size: 57 KB
Click to Enlarge Name: geppy 8h.png Size: 51 KB
"Millionaires don't use astrology, billionaires do"
  • #197,531
  • Sep 15, 2009 11:46am Sep 15, 2009 11:46am
Quoting Fudomyo
no one could predict what King was going to say, but the market has been bearish since the drop last Monday, with some rebounds....
hmmm well i have a habit of opening trades at the exact point it goes flying the other way by several hundred pips.

mt4 has fib expansions, i assume thats the same thing? only ever used retracements before
  • #197,532
  • Sep 15, 2009 11:48am Sep 15, 2009 11:48am
Quoting ewokuk
hmmm well i have a habit of opening trades at the exact point it goes flying the other way by several hundred pips.

mt4 has fib expansions, i assume thats the same thing? only ever used retracements before

myself i rather use the retracement extensions i find more accurate driving off the current swing it originated from
"Millionaires don't use astrology, billionaires do"
  • #197,533
  • Sep 15, 2009 11:55am Sep 15, 2009 11:55am
Quoting Scrat
if you look at this chart, pvp (control area) for current move is 150.21 area (pink line). it could go up to 150.63 without breaking bearish view (there is a volume spike on that candle that suggests huge selling there).

but rather than going long, i suggest re-shorting after retracement/consolidation is over - if 150.63 is still in place.
Agree, sell all rallies.
Retracement is coming .. sit tight. All those kamikaze traders can try this very short term explosive move
  • #197,534
  • Sep 15, 2009 11:55am Sep 15, 2009 11:55am
Quoting ewokuk
hmmm well i have a habit of opening trades at the exact point it goes flying the other way by several hundred pips.

mt4 has fib expansions, i assume thats the same thing? only ever used retracements before
Same here...

Just lost some $$$

luckily backed out in time..
  • #197,535
  • Sep 15, 2009 11:56am Sep 15, 2009 11:56am
Quoting mktjong
Agree, sell all rallies.
Retracement is coming .. sit tight. All those kamikaze traders can try this very short term explosive move

Will try to start short once retracement is over...
  • #197,536
  • Sep 15, 2009 11:56am Sep 15, 2009 11:56am
Quoting OrionsWay
myself i rather use the retracement extensions i find more accurate driving off the current swing it originated from
yeah so you put the retracement from the spike high to low in a down move, then look at the extensions of it, i.e. 1.618? only prob with that is putting a fib retracement from low to high on the gj move today (so 0 is a the top obviously) gives my first extension level of 1.618 at 148.05. but thats drawing the retracement back to front (0 should be at the bottom for a retrace up). hmmmm now i confused myself

first retracement level 23.6 (or 76.4 if drawn back to front lol) is pretty much at 150 now if it even gets that far. and holy crap just as i was typing its dropped 40 pips in about 30 seconds. and i missed it DAMNIT
  • #197,537
  • Sep 15, 2009 11:58am Sep 15, 2009 11:58am
Quoting mktjong
Agree, sell all rallies.
Retracement is coming .. sit tight. All those kamikaze traders can try this very short term explosive move
But one thing I don't like to short GY so far is dollar index weakness which is currently showing. It supports a short term retracement.
  • #197,538
  • Sep 15, 2009 12:04pm Sep 15, 2009 12:04pm
Quoting ewokuk
yeah so you put the retracement from the spike high to low in a down move, then look at the extensions of it, i.e. 1.618? only prob with that is putting a fib retracement from low to high on the gj move today (so...

ratio's ratio's ratio's which ones are important and when and where
Attached Image (click to enlarge)
Click to Enlarge Name: 1h retracement ext..png Size: 15 KB
"Millionaires don't use astrology, billionaires do"
  • #197,539
  • Sep 15, 2009 12:16pm Sep 15, 2009 12:16pm
thing i dont trust about these fibs is if you draw enough lines then its ALWAYS going to stop on or near ONE of them lol

as far as i can see form the fibs, it should retrace to 150.50 area (50% retrace) before next drop? probably will not get there before asia so might set a sell order there as its big resistance also
  • #197,540
  • Sep 15, 2009 12:16pm Sep 15, 2009 12:16pm
and SP 500 still going up
unbelievable....
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