you are drunk/.....lol....enjoy ur party with bikini girls...
The Chonchy
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #208,321
- Nov 22, 2009 2:48am Nov 22, 2009 2:48am
- Joined Aug 2007 | Status: The Bitcoiner | 20,231 Posts
- #208,322
- Nov 22, 2009 3:53am Nov 22, 2009 3:53am
- | Joined Oct 2008 | Status: Trader | 1,666 Posts
Its rejected the first UTL, but not broken the LTL. It could easily reject LTL and head back to the second UTL around 160 area yet. I am bearish right now obviously, but I will not be caught with my pants down looking at 140 and lower when it could easily bounce from the LTL around 143.50 and breakout up and head straight back to 160. On the weekly charts the breakout has not happened yet!
The first major support is what stopped it in its tracks on friday, 50% fib of move from 139.70 to 153.22 which is also the low from 1st week of november. if it makes a clean break of that then 38.2 retrace of the move from 118 to 163 is 145.94, so a clean break of 146 leaves LTL at 143.50 area first target. then 139.70 to 140 previous lows. then 139. after 139 we go to hell back to 118
Now I think 139 is a possibility but Im not convinced itll go lower. Japan has already stated last week they are "watching the level of usdjpy very closely". They will intervene if it continues down too far, and GJ cant drop if UJ is being intervened. Also look at UJ, its not far off last years lows at 87.12. Japan could intervene there, or it could get bought off that level anyway, some sort of decent retrace from there is possible, maybe back to its UTL around 93, which could take gj back up a few hundred pips at least.
Dont forget japan is on yet another bank holiday tonight. Then we have thanksgiving holiday in america on thursday which will mean some of them take the whole week off and the vast majority will take thursday AND friday off. so it may end up a crappy quiet ranging week.
The first major support is what stopped it in its tracks on friday, 50% fib of move from 139.70 to 153.22 which is also the low from 1st week of november. if it makes a clean break of that then 38.2 retrace of the move from 118 to 163 is 145.94, so a clean break of 146 leaves LTL at 143.50 area first target. then 139.70 to 140 previous lows. then 139. after 139 we go to hell back to 118
Now I think 139 is a possibility but Im not convinced itll go lower. Japan has already stated last week they are "watching the level of usdjpy very closely". They will intervene if it continues down too far, and GJ cant drop if UJ is being intervened. Also look at UJ, its not far off last years lows at 87.12. Japan could intervene there, or it could get bought off that level anyway, some sort of decent retrace from there is possible, maybe back to its UTL around 93, which could take gj back up a few hundred pips at least.
Dont forget japan is on yet another bank holiday tonight. Then we have thanksgiving holiday in america on thursday which will mean some of them take the whole week off and the vast majority will take thursday AND friday off. so it may end up a crappy quiet ranging week.
- #208,323
- Edited 4:55am Nov 22, 2009 4:33am | Edited 4:55am
- Joined Aug 2009 | Status: Technical fundamentalist | 2,202 Posts
Author of: For Pip's Sake! (Available at Amazon... :-) )
- #208,324
- Edited 8:04am Nov 22, 2009 7:53am | Edited 8:04am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Don't forget GU is set for a dive..
If the weekly TL holds, than watch out below..There is plenty of room to fall.
If the weekly TL holds, than watch out below..There is plenty of room to fall.
Its rejected the first UTL, but not broken the LTL....
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- #208,325
- Nov 22, 2009 9:06am Nov 22, 2009 9:06am
- | Joined Oct 2008 | Status: Trader | 1,666 Posts
Don't forget GU is set for a dive..
If the weekly TL holds, than watch out below..There is plenty of room to fall.
still need to watch out for M&A's too, theres cadburys and probably a couple of others that could end up buying a few bilion pounds if they go through and the first we will know about it is when it goes flying up a few hundred pips for no apparent reason
it looks like they have now decided the direction is down, after a few weeks of messing us about. i would look to see if good news release start getting sold into now, then definitely much lower to come.
- #208,326
- Nov 22, 2009 10:08am Nov 22, 2009 10:08am
- | Commercial User | Joined Oct 2008 | 5,712 Posts
Don't forget GU is set for a dive..
If the weekly TL holds, than watch out below..There is plenty of room to fall.
- #208,327
- Nov 22, 2009 10:39am Nov 22, 2009 10:39am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
nothing moves in a straight line
wave 3 on 60 min ended , wave 4 retrace to 148 , wave 5 144
wave 3 on 60 min ended , wave 4 retrace to 148 , wave 5 144
Blogging daily now at www.volume.zone
Don't forget GU is set for a dive..
If the weekly TL holds, than watch out below..There is plenty of room to fall.
- #208,329
- Nov 22, 2009 10:47am Nov 22, 2009 10:47am
- Joined Jan 2009 | Status: bye FF | 8,806 Posts
nothing moves in a straight line
wave 3 on 60 min ended , wave 4 retrace to 148 , wave 5 144
Attachment
yes bro...i Agreed to your levels i have same setup ..let see how it work...sup with u
MY OPINION NOT FINANCIAL ADVISE
- #208,330
- Nov 22, 2009 10:47am Nov 22, 2009 10:47am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
your chart might be interpreted opposite to your kaboom's view for the valley 1.56 could mark the bottom of congestion area
he is right
we are in wave 5 of 5 on daily .......min 132 , could be lower
top is complex due to fact that everyone is still bear usd and bull stock market.....this will not drop easily , but drop it will , the technical say so
Blogging daily now at www.volume.zone
- #208,332
- Nov 22, 2009 11:39am Nov 22, 2009 11:39am
- | Joined Oct 2008 | Status: Trader | 1,666 Posts
nothing moves in a straight line
wave 3 on 60 min ended , wave 4 retrace to 148 , wave 5 144
Attachment
- #208,333
- Nov 22, 2009 3:25pm Nov 22, 2009 3:25pm
hey guys, I'm back again , it has a long story, but it's enough to say that my grand pa gone, i felt in a emotional shock, lost lot of dollars , it took me month to recover , i missed all of u so much.
in that hard times, i founded some technics that i will share and hope to be avail for this forum.
in that hard times, i founded some technics that i will share and hope to be avail for this forum.
Making money not by predicting just by following ...
hey guys, I'm back again , it has a long story, but it's enough to say that my grand pa gone, i felt in a emotional shock, lost lot of dollars , it took me month to recover , i missed all of u so much.
in that hard times, i founded some technics that i will share and hope to be avail for this forum.
- #208,337
- Nov 22, 2009 4:01pm Nov 22, 2009 4:01pm
let's see how price will be developed; currently on daily the kaboom is not confirmed yet according to auslanco system's on daily:
1. 50 pivot ma crossed over 200 pivot ma few days ago and still points up
2. qqe is still over 50 and have not crossed it yet
3. stoch showed that more than 50% of move down is already accomplished
But it's just my opinion
Good luck
- #208,338
- Nov 22, 2009 4:57pm Nov 22, 2009 4:57pm
hey guys, I'm back again , it has a long story, but it's enough to say that my grand pa gone, i felt in a emotional shock, lost lot of dollars , it took me month to recover , i missed all of u so much.
in that hard times, i founded some technics that i will share and hope to be avail for this forum.
