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

  • #209,841
  • Dec 6, 2009 8:23pm Dec 6, 2009 8:23pm
Quoting sed34
ok. that makes sense.
I base my trading on looking for opportunties for 30-50 pips at a go. Occasionally I will hold those trades for longer if I'm comfortable with the PA.

The GJ is pretty easy to grab 30 pips here and there, and usually pretty quick in doing so.
  • #209,842
  • Dec 6, 2009 9:20pm Dec 6, 2009 9:20pm
Quoting rgitt05
The higher PB the better...

Look at the monthly chart (BEARISH)
Weekly ( BEARISH)

Look all KABOOMISH...


but what I see bro ....

Monthly in the process to turn bullish mode.
Weekly - we have bullish candle.
  • #209,843
  • Dec 6, 2009 9:29pm Dec 6, 2009 9:29pm
sucess with it ?and just when does the 4 hour qualify as a sig?just the cross of the bottom part? still a little unclear about the 1 hour and 4 hour setup
  • #209,844
  • Dec 6, 2009 9:54pm Dec 6, 2009 9:54pm
You are probably right without the bias of the fundamentals.

Based on my monthly chart, the last three candles stopped in the 139 zone.( strong support)

That means only one thing. UP to test the 153 again.

Dam I missed that basic S/R setup....Anyway, I have a long since the DP didn't break.



Quoting PandoraBox
but what I see bro ....

Monthly in the process to turn bullish mode.
Weekly - we have bullish candle.
Attached Image (click to enlarge)
Click to Enlarge Name: monthly gj.gif Size: 25 KB
[
  • #209,845
  • Dec 6, 2009 10:05pm Dec 6, 2009 10:05pm
Quoting Fly2
sucess with it ?and just when does the 4 hour qualify as a sig?just the cross of the bottom part? still a little unclear about the 1 hour and 4 hour setup
QQE is strong indi if u follow higher tf ....go back and read the rules and tf used for QQE...cheers
MY OPINION NOT FINANCIAL ADVISE
  • #209,846
  • Dec 6, 2009 10:43pm Dec 6, 2009 10:43pm
Hello Ukdaytrader, what are your thoughts in regards to direction for GJ this morning?
  • #209,847
  • Dec 6, 2009 10:44pm Dec 6, 2009 10:44pm
Quoting rgitt05
You are probably right without the bias of the fundamentals.

Based on my monthly chart, the last three candles stopped in the 139 zone.( strong support)

That means only one thing. UP to test the 153 again.

Dam I missed that basic S/R setup....Anyway, I have a long since the DP didn't break.

But, fundamentals are turning positive. NFP at -11000, that's staggering even if it is bs. This is the major news that's on the table right now, everything else has already been known for a while. The US is out of recession now, as are Japan, Australia etc.

I must say however, that I do not pay any attention to FA except as a passing interest, but any shorts have to be driven by something, even if it is just an excuse.

Maybe Dubai will raise it's head again this week, but with Gold falling and GY seemingly making a double bottom, room to the upside is certainly there.

There's also the BoJ to think about.....

I'm flexible, but cannot see any reason to go short right now.
  • #209,848
  • Dec 6, 2009 10:51pm Dec 6, 2009 10:51pm
Quoting donfriday
QQE is strong indi if u follow higher tf ....go back and read the rules and tf used for QQE...cheers
any idea where the rules are/hehe/can't find em now/I kinda got part of them here and there
but was wondering if there was a full explaniation,Thanks in advance if any idea
  • #209,849
  • Dec 6, 2009 11:05pm Dec 6, 2009 11:05pm
Quoting Fly2
any idea where the rules are/hehe/can't find em now/I kinda got part of them here and there
but was wondering if there was a full explaniation,Thanks in advance if any idea
http://www.forexfactory.com/showpost...53&postcount=1
MY OPINION NOT FINANCIAL ADVISE
  • #209,850
  • Dec 6, 2009 11:29pm Dec 6, 2009 11:29pm
It seems that GU is what is driving the shorts, at least at the moment for GJ

Quoting ukdaytrader
But, fundamentals are turning positive. NFP at -11000, that's staggering even if it is bs. This is the major news that's on the table right now, everything else has already been known for a while. The US is out of recession now, as are Japan, Australia etc.

I must say however, that I do not pay any attention to FA except as a passing interest, but any shorts have to be driven by something, even if it is just an excuse.

Maybe Dubai will raise it's head again this week, but with Gold falling and GY seemingly making a double bottom, room to the...
  • #209,851
  • Dec 6, 2009 11:48pm Dec 6, 2009 11:48pm
you misunderstood my post. my view is NOT bullish. we are trading AROUND the critical area, but price managed to break below. IF this area is cleared to the upside, then yes, i will become bullish; but if price keeps below then... hm... we're probably going to meet the double digits.

Quoting sinner-
Hi scrat, I was not going to post one possible view I have for G/J 2010 but since you post this bullish thought I will show some possible agreement:

So far on my daily charts there has been no close below the 1/8 daily MML level at 140.625. This line is a buy with bullish target 187.5!

Obviously it won't be such a straight line as the one I show below, but it is possible to go up, especially with no daily close below the level. I am not trading this concept, but did notice it this morning and found the idea very interesting.
Nihil Sine Deo.
  • #209,852
  • Dec 6, 2009 11:51pm Dec 6, 2009 11:51pm
I like it short below 147.00 down to 140.00
Attached Image (click to enlarge)
Click to Enlarge Name: GU4.JPG Size: 71 KB
  • #209,853
  • Edited Dec 7, 2009 12:07am Dec 6, 2009 11:52pm | Edited Dec 7, 2009 12:07am
thanks. what would we do without higher tfs, tight?

Quoting rgitt05
Hi Scrat,

I like your in depth approach looking back on the higher TF's with the market volume indicator.

Nihil Sine Deo.
  • #209,854
  • Dec 7, 2009 12:06am Dec 7, 2009 12:06am
Quoting ukdaytrader
But, fundamentals are turning positive. NFP at -11000, that's staggering even if it is bs. This is the major news that's on the table right now, everything else has already been known for a while. The US is out of recession now, as are Japan, Australia etc.

I must say however, that I do not pay any attention to FA except as a passing interest, but any shorts have to be driven by something, even if it is just an excuse.

Maybe Dubai will raise it's head again this week, but with Gold falling and GY seemingly making a double bottom, room to the...
i thinking exactly the same. im shorting GU on pound weakness and dollar strength. but i waiting until gj becomes clearer. if it gets back above 148 i may consider long but the weaker the pound gets the more chance gj will just be in a smallish whippy range with uj pushing it up and gu pulling it down.
  • #209,855
  • Dec 7, 2009 12:07am Dec 7, 2009 12:07am
alright, i see your point, but what about this: price just bumped into a strong resistance area - 149 (to 150.30) - and more, it went straight up from the very bottom?

Quoting ukdaytrader
...
I'm flexible, but cannot see any reason to go short right now.
Nihil Sine Deo.
  • #209,856
  • Dec 7, 2009 12:23am Dec 7, 2009 12:23am
Quoting donfriday
http://www.forexfactory.com/showpost...53&postcount=1
thanks
  • #209,857
  • Dec 7, 2009 12:24am Dec 7, 2009 12:24am
G/j short, g/u short....... Take all em profits this week don't look back
  • #209,858
  • Dec 7, 2009 12:32am Dec 7, 2009 12:32am
Quoting Scrat
alright, i see your point, but what about this: price just bumped into a strong resistance area - 149 (to 150.30) - and more, it went straight up from the very bottom?
It's a valid point of course, but there are other scenarios that are possible I think.
A bounce off major support is not entirely unexpected and I would have been more suspicious if we'd crashed through immediately this week. We could continue down, so like I said, I'm flexible...

Here's my take; It looked like NFP caught a lot of people by surprise last week and this was evident by the muted move. Seemed a lot of big players were positioned for weakness and the subsequent bull/bear fight held the move back. Whether this manifests itself into strength or weakness this week we'll soon know.

  • #209,859
  • Dec 7, 2009 12:36am Dec 7, 2009 12:36am
It seems like the pro analysis sites are forecasting the g/j up but then technicals are all pointing down...
  • #209,860
  • Dec 7, 2009 12:47am Dec 7, 2009 12:47am
Broke Inner Trendline. Lets see it down to 145.50 If it break then back to 139.90 we go.
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