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

  • #202,901
  • Oct 12, 2009 1:53pm Oct 12, 2009 1:53pm
My bearish pennant is still holding on my daily chart





Quoting A-speculator
Well, now seems the confusing moment of trading the pound, and there will be a big debut between the bears and the bulls. For me malc, I think we will still heading lower as you can see in 4hr, the price managed to challenge its lows and failed to make new high. As for GJ, it seems stuck at 140s but it failed to break 143 or make new high during its last attempt to break that resistance. However, we have shooting star on 4hr followed by a long bearish candle. Currently, I scaled down my trade for GJ until clear PA and focus on more easier pair to...
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  • #202,902
  • Oct 12, 2009 1:57pm Oct 12, 2009 1:57pm
Quoting A-speculator
I saw inverted H&S there.. maybe it will just retest its neckline??

Lol u are sorry for what?....eu weekly trend is changing as long as the high is 1.4840.
point 2 tested and rejected..
gj bearish if todays low is broken gj is going down to 139 but if not tomorrow we may go back to 143 and each of this level should get broken before Wednesday IMO...we may continue ping pong..
Good night all
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MY OPINION NOT FINANCIAL ADVISE
  • #202,903
  • Oct 12, 2009 1:58pm Oct 12, 2009 1:58pm
Quoting rgitt05
My bearish pennant is still holding on my daily chart

Yups I saw that.. but I was hoping it breaks last friday.. coz at least we wil have a decent PA if that breaks.. but it didn't, so back to bearish.. anyway aussie seems like to have a good setup for short and wait for retracement for GBPCAD, a long long way down IMHO..
  • #202,904
  • Oct 12, 2009 2:00pm Oct 12, 2009 2:00pm
1.5900 is holding at the moment and failed so far to retrace back into the blue TL

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  • #202,905
  • Oct 12, 2009 2:21pm Oct 12, 2009 2:21pm
Quoting rgitt05
1.5900 is holding at the moment and failed so far to retrace back into the blue TL

EU is very resilient so far and could blast to 1.49xx by tomorrow or so.
  • #202,906
  • Oct 12, 2009 2:33pm Oct 12, 2009 2:33pm
1.4800 zone formed double top on the 4hr chart

If this area breaks than 1.5000 in the next level



Quoting mktjong
EU is very resilient so far and could blast to 1.49xx by tomorrow or so.
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  • #202,907
  • Oct 12, 2009 3:11pm Oct 12, 2009 3:11pm
gj12h
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  • #202,908
  • Oct 12, 2009 4:54pm Oct 12, 2009 4:54pm
Hi Malc,

Do you think with that double bottom on daily we might test 144.50 at some time?

Quoting malcolmb14
6 pages of complete rubbish ... what is coming of this thread ?

gj is ranging right now .. here is the 60 min chart. I have seen kaboom and all kinds of stuff today .

fact ....look at euro indexes ALL GREEN...
  • #202,909
  • Oct 12, 2009 5:09pm Oct 12, 2009 5:09pm
Quoting rgitt05
The price action seems like rubbish atm..



EU bull trap..
I agree ... but then again the pa on the us , uk and europ stock amrkets seems rubbish as well , but they will manipulates price higher before drop .

The same seems to be happening with eu

the 60 min chart seem to be re accumulation for break out to upside .. makes no sense , but all dip are being bought at 1.4700

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  • #202,910
  • Oct 12, 2009 5:17pm Oct 12, 2009 5:17pm
Quoting A-speculator
Well, now seems the confusing moment of trading the pound, and there will be a big debut between the bears and the bulls. For me malc, I think we will still heading lower as you can see in 4hr, the price managed to challenge its lows and failed to make new high. As for GJ, it seems stuck at 140s but it failed to break 143 or make new high during its last attempt to break that resistance. However, we have shooting star on 4hr followed by a long bearish candle. Currently, I scaled down my trade for GJ until clear PA and focus on more easier pair to...
I agree 100 % on gu and gj heading lower ....

in fact target gu 1.3000 and gj 120 .... but not after 1st quarter next year

I think that it is going to take unemployment and a round of large firms going bankrupt before indexes come off.

The perception of the market is very bullish and perception can beat figures hands down .....once those that perceive the market to be bullish are spooked somehow ..then the carnage will start .....

In the mean time as you said usdcad and audusd are easier p[airs to trade as they are trending , GBP CHF is also not bad and looks all set to test 1.5400 on weekly charts . I think someone mentioned gbpcad in here the other day , missed the drop but that has been carnage and my personal all time fav obscure gbp cross apir gbpaud .....3500 pip down since July and counting
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  • #202,911
  • Oct 12, 2009 5:22pm Oct 12, 2009 5:22pm
Quoting naatha
gj12h
why's the text the wrong way round?

Malc, do you have a chart on the pound of cheese? Personally my target is 1.6 but may revise even lower
  • #202,912
  • Oct 12, 2009 5:23pm Oct 12, 2009 5:23pm
Quoting malcolmb14
I agree 100 % on gu and gj heading lower ....

in fact target gu 1.3000 and gj 120 .... but not after 1st quarter next year

I think that it is going to take unemployment and a round of large firms going bankrupt before indexes come off.

The perception of the market is very bullish and perception can beat figures hands down .....once those that perceive the market to be bullish are spooked somehow ..then the carnage will start .....

In the mean time as you said usdcad...
The GBPAUD is one nice trending pair. A strong currency against a weak on: simples.
Probability Professor
  • #202,913
  • Oct 12, 2009 5:26pm Oct 12, 2009 5:26pm
Quoting Fusion
Hi Malc,

Do you think with that double bottom on daily we might test 144.50 at some time?
gbp is weak and the only real thing that is holding UP gj right now is UJ

If for some reason the buyers in the global indexes are spooked we could get a drop of 300 - 500 pip in one session , much like we did the other day

IF i am going long gj I am very nervous these days , much happier going short

there is a 1-2-3 sell in place that has a downward channel to it ... 3 hrs rsx is red right now ..overall downside targets 136 ... but I do not foresee us free falling this week...I see range week

goldman scahs reports Oct 15th , if they lie again .. opps I meant beat eps the s&p will rocket to 1100 or higher , uj 90 / 91 and for sure gj will test supply in the 144.50 area

right now i am taking it day by day , but am more partial to shorts intraday trading than longs

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  • #202,914
  • Oct 12, 2009 5:39pm Oct 12, 2009 5:39pm
Quoting Eulogy
why's the text the wrong way round?

Malc, do you have a chart on the pound of cheese? Personally my target is 1.6 but may revise even lower
weekly we are in wave 5 .... sub 1.5000

daily we are in wave 3 down .... fib ext give us 1.5955 and 1.5030 as targets for wave 3 to end.

wave 4 reatrce to no higher than 1.6600

then wave 5 1.4560

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  • #202,915
  • Edited 5:46pm Oct 12, 2009 5:40pm | Edited 5:46pm
It`s an Enigma code, - use a mirror.
LoL
  • #202,916
  • Oct 12, 2009 5:44pm Oct 12, 2009 5:44pm
My only theory for EU to continue the bullish PA is the 1.5 psychological resistance..The 1.4850 is still an area to clear for that to happen.

EU fundamental is bearish..Maybe GJ bearish drop will pressure the EJ to correlated to the bearish direction at TA perspective.


Gold Looks Better than
Either the Euro OR the Dollar!



by Claus Vogt

In the bigger picture, the U.S. has the same economic problems as Europe. And both countries follow the very same fiscal and monetary policies of printing money and piling on government debts.

These policies are principally bad for the stability of a currency. Hence, both the euro and the dollar should fall relative to gold.
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  • #202,917
  • Oct 12, 2009 6:03pm Oct 12, 2009 6:03pm
Quoting malcolmb14
weekly we are in wave 5 .... sub 1.5000

daily we are in wave 3 down .... fib ext give us 1.5955 and 1.5030 as targets for wave 3 to end.

wave 4 reatrce to no higher than 1.6600

then wave 5 1.4560

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thanks Malc
although i was more looking for a timeframe up to the the end of Oct, although it seems you're now also firmly in the rggit's KABOOM camp
  • #202,918
  • Oct 12, 2009 6:07pm Oct 12, 2009 6:07pm
Quoting naatha
It`s an Enigma code, - use a mirror.
LoL

hahaa
"Millionaires don't use astrology, billionaires do"
  • #202,919
  • Oct 12, 2009 6:25pm Oct 12, 2009 6:25pm
After the double bottom, PA bounced back up moving to the least resistance and 144.50 is still a target..

The past two weeks looks like a consolidation zone

139.70< X < 144.50.

As Malcolmb14 stated earlier, the market first must test the S/P and DJ highs before determine any Kabooom alert

Sorry guys no kaboom yet!!!


Opportunity to get a higher position to short
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  • #202,920
  • Oct 12, 2009 6:29pm Oct 12, 2009 6:29pm
Still continue falling down
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