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

  • #202,161
  • Oct 7, 2009 9:07pm Oct 7, 2009 9:07pm
Quoting sinner-
actionforex also recommending a 1.6 sell with 6 pip stop loss!

http://www.actionforex.com/action-in...2009100797838/
lol.. I wouldn't take that risk.. better wait for a confirmed rejection from the resistance.. If that resistance taken out, it will really fly..
  • #202,162
  • Oct 7, 2009 9:11pm Oct 7, 2009 9:11pm
Quoting malcolmb14
there do not seem to be sellers 1.6000 gu right now

if there were the moment it touched that level it would have dropped

I think there is a perception that boe may cut interest rates. If they do not then 1.6400 may be on the cards ..

above 1.6050 for sure we see 1.6250 ... but more liekly 1.6400

Attachment
Maybe the sellers are still in bed.. lol.. yeah, I agree to what you said.. anayway, we're still in asian session..
  • #202,163
  • Oct 7, 2009 9:12pm Oct 7, 2009 9:12pm
gj 12 hr

base on 139.75 .. bull div .. buyers on dip last night in asia

145 could be on the cards .. 50 % retrace , although I am a bull long term

Attached Image (click to enlarge)
Click to Enlarge Name: chart792.png Size: 192 KB
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  • #202,164
  • Oct 7, 2009 9:17pm Oct 7, 2009 9:17pm
this is a chart showing confluence of waves and major s/r areas ...

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Click to Enlarge Name: chart793.png Size: 237 KB
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  • #202,165
  • Oct 7, 2009 9:23pm Oct 7, 2009 9:23pm
Quoting malcolmb14
gj 12 hr

base on 139.75 .. bull div .. buyers on dip last night in asia

145 could be on the cards .. 50 % retrace , although I am a bull long term

Attachment
I'm with you on this! Now just wait for a slight down move and watch a bunch of the members here yell out 'KABOOM' or yell out ridiculous numbers lol
  • #202,166
  • Oct 7, 2009 9:24pm Oct 7, 2009 9:24pm
In normal times, the current PA of GJ & GU - where it looks to be itching to cross over 141.575 (wasn't there too long ago) & 1.60 - would easily jump over the barrier; EU is on a good roll, AU's been on a tear of 140 pips in the last 3 hours, but the lowly ol GP, well, she's not garnering much respect for valid reasons. Looks like GU and GY are trading in parallel for the time being. I expect GJ will make the leap, but question is can it breach 142 next. Maybe London can help it along, although the PA isn't frequently the same between Asia and London.
  • #202,167
  • Oct 7, 2009 9:27pm Oct 7, 2009 9:27pm
Quoting malcolmb14
gj 12 hr

base on 139.75 .. bull div .. buyers on dip last night in asia

145 could be on the cards .. 50 % retrace , although I am a bull long term

Attachment
I don't think there will be any move upside malc.. I think we gonna head down from this level..
  • #202,168
  • Oct 7, 2009 9:28pm Oct 7, 2009 9:28pm
Quoting PandoraBox
The problem now, Gold fly to fast. When it drop, it will drop hard.

This is what happen to Oil !
how long they can fly.. ?
  • #202,169
  • Oct 7, 2009 9:32pm Oct 7, 2009 9:32pm
IMO, market is trying to prepare itself for the news. Big boys will let you go long to have opportunityfor to short it at the top.

1hr: Volume to down and price go up = price unlikely go much higher or reverse from around this level.
Attached Image (click to enlarge)
Click to Enlarge Name: 10-07-09 GU 1hr.jpg Size: 302 KB
Do not follow my trades. Trade what you see on your own charts.
  • #202,170
  • Oct 7, 2009 9:32pm Oct 7, 2009 9:32pm
Quoting Raza
This was based on ELLIOT wave on Daily-- 4 Hr..with wave1 ending at 1.4990..(G/U).. Looks like we are in wave 4..

With Visible H&S...on Daily.. Downside Target should be in 150 area...since wave 4 cannot intersect wave1..(149.90)... 179xx is the Fib level..where wave #5 can end up ..it can also end at 172 level...

If 149.90 Breaks ..Then look Below..( count is wrong)

Just an Observation .. Can be wrong about it.
Hi Raza!

How u doing this week?

Be careful with shorts on Cable, I see some bullish interest here.

Check my analysis if you want:

http://www.forexfactory.com/showpost...postcount=9241
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #202,171
  • Oct 7, 2009 9:37pm Oct 7, 2009 9:37pm
Quoting mrfxbaling
how long they can fly.. ?

Check weekly and Monthly TF Gold, then you can know how far she can go.

GL
  • #202,172
  • Oct 7, 2009 9:37pm Oct 7, 2009 9:37pm
Quoting malcolmb14
gj 12 hr

base on 139.75 .. bull div .. buyers on dip last night in asia

145 could be on the cards .. 50 % retrace , although I am a bull long term

Attachment
Nice analysis Malc! Even for you [Intraday trader], I'm with you on this

http://www.forexfactory.com/showpost...postcount=9241
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #202,173
  • Oct 7, 2009 9:53pm Oct 7, 2009 9:53pm
Quoting igmak
IMO, market is trying to prepare itself for the news. Big boys will let you go long to have opportunityfor to short it at the top.

1hr: Volume to down and price go up = price unlikely go much higher or reverse from around this level.
before you try and use volume understand what it means .

think about what session we are in....
Blogging daily now at www.volume.zone
  • #202,174
  • Oct 7, 2009 9:59pm Oct 7, 2009 9:59pm
Quoting PandoraBox
Check weekly and Monthly TF Gold, then you can know how far she can go.

GL
it a higher of this year... ?
  • #202,175
  • Oct 7, 2009 10:06pm Oct 7, 2009 10:06pm
basically support keeps getting tested in different forms off wedges no real surprise we have wedges as the fall from 163 is creating them even though descending they are breakout trades wedges within wedges first chart 15min and then the 4hr with an all most perfect bottom
Attached Image(s) (click to enlarge)
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  • #202,176
  • Oct 7, 2009 10:08pm Oct 7, 2009 10:08pm
Quoting malcolmb14
before you try and use volume understand what it means .

think about what session we are in....
OK VSA PRO

Can you explain why session is important in VSA?
Do not follow my trades. Trade what you see on your own charts.
  • #202,177
  • Oct 7, 2009 10:11pm Oct 7, 2009 10:11pm
Quoting igmak
OK VSA PRO

Can you explain why session is important in VSA?
I'm not VSA Pro but I know that Asian session is pretty well known but low vol on market

IMHO

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #202,178
  • Oct 7, 2009 10:13pm Oct 7, 2009 10:13pm
Here are a few targets im looking for cable. this is a equlibrium chart showing market balance.
Mike
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  • #202,179
  • Edited 11:14pm Oct 7, 2009 10:45pm | Edited 11:14pm
Quoting igmak
IMO, market is trying to prepare itself for the news. Big boys will let you go long to have opportunityfor to short it at the top.

1hr: Volume to down and price go up = price unlikely go much higher or reverse from around this level.
Actually.. I agree with you... a nice short sits there.. we are still in the WEDGE GAME.. and this is our 4th test inside the wedge..

Regardless of Volume and session we are in.. that is the same volume we Actually got here.. so.. YES im with ya.. :nerd:

Excellent R:R for a short position.. nothing to lose... Just maintain a sound SL and you'll be fine.. (if stopped then well.. next trade is around the corner)

Next stop at 1.59, if stopped and we "clear" UTL then we know our other target too = 1.6120

cheers !!
  • #202,180
  • Oct 7, 2009 11:17pm Oct 7, 2009 11:17pm
Quoting igmak
OK VSA PRO

Can you explain why session is important in VSA?
asia is low volume time

you can compare one volume bar for session relative to another on say a 10 min chart , but on a 60 min chart of course the 60 min bars during asai will be lower than any other time , so the bearish volume divergence that you think you are seeing on a 60 min is not truly representative of the price action in the market. 60 min bar in Asia cannot be considered relative to a 60 min in us session

I hope this is clear enough to understand
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