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

  • #211,141
  • Jan 5, 2010 8:18pm Jan 5, 2010 8:18pm
Quoting Gucc
yes im still say it will go to 118/116 level , but you can see its shyt loads of patience to wait for a break of 126 level .. im short from july/aug at the 137 level ,and im still waiting for the break to the downside .. i cant post any charts,like what i said earlier ..
wait so you're holding shorts from 137??!!??
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  • #211,142
  • Jan 5, 2010 8:21pm Jan 5, 2010 8:21pm
not sure
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  • #211,143
  • Jan 5, 2010 8:21pm Jan 5, 2010 8:21pm
Quoting Geppy
wait so you're holding shorts from 137??!!??
yes ,and still short ..
  • #211,144
  • Jan 5, 2010 8:26pm Jan 5, 2010 8:26pm
i have not seen wave count without correction b4..naatha is my first person
MY OPINION NOT FINANCIAL ADVISE
  • #211,145
  • Jan 5, 2010 8:30pm Jan 5, 2010 8:30pm
Quoting naatha
not sure
What kinda wave structure is that. I've never seen anything like it...
  • #211,146
  • Jan 5, 2010 8:33pm Jan 5, 2010 8:33pm
Quoting ewokuk
i grabbed another long at 146.18, looked like some buying volume. got stop at +1 and its staying there for now. hopefully it moves up from here
Wonderful move for you - hopefully you got the 100 pips out of it, and now it's looking like it's pulled back down to 146.7 (would not be surprised to see a spike down candle to 146.5 or even FibS1 @ 146.164; also expect it to touch/spike to the pivot @ 147.3. Very frequently I find Asia trading of our beloved GY very predictable and can get 1/3 of my daily pip results here. Unfortunately I wasn't able to trade the session so far, except for a 40 pip scalp. I'm not also completely convinced we've properly bottom tested, as we did get a new low of of 145.978. It would be very Londonish to take this down further, quickly dropping it to Scrat's documented 145.4, and then hopefully up after that.
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  • #211,147
  • Jan 5, 2010 8:40pm Jan 5, 2010 8:40pm
yeh i took the 100 off it, got in just at the right time and exited right at the top so my best trade of the year by far, jumped in again at 146.92 when it looked like it may continue but then slumped back down so i might have to ditch this soon if it doesnt move back up. not bothered if i dont get any pips ill be satisfied to get out at BE at this point
  • #211,148
  • Jan 5, 2010 8:40pm Jan 5, 2010 8:40pm
... just seeing my chart didn't show the pivot @ 147.3: have also got a short up there for the expected GY spike and subsequent return. Yes I know, the colors can be hard on the eyes, but they get the information across well.
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  • #211,149
  • Jan 5, 2010 9:19pm Jan 5, 2010 9:19pm
Here is what I'm looking at long-term. . . and why I think we are in wave 2 of 5 which looks to be a complex correction which should ultimately test resistance above hence 154 area (green ema) before heading lower or KABOOM as some would say. . . LMAO!

The green line is weekly 55 EMA and has served as resistance since Nov 2007 on each drop. . .

As can be seen resistance was tested at 163 when wave was completed and I think it will be tested again during this wave 2 of 5 correction then head lower from. . .

Of course if this resistance is taken then we will be in a trend reversal but only with a successful weekly close above that resistance. ..

Feedback welcomed. . .
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  • #211,150
  • Jan 5, 2010 9:33pm Jan 5, 2010 9:33pm
Quoting quecee5
Here is what I'm looking at long-term. . . and why I think we are in wave 2 of 5 which looks to be a complex correction which should ultimately test resistance above hence 154 area (green ema) before heading lower or KABOOM as some would say. . . LMAO!

The green line is weekly 55 EMA and has served as resistance since Nov 2007 on each drop. . .

As can be seen resistance was tested at 163 when wave was completed and I think it will be tested again during this wave 2 of 5 correction then head lower from. . .

Of course if this resistance is...
Couldn't agree more. I've actually been saying something almost identical (minus the waves) the last couple weeks and talking about the potential for the 160 area before a turn down and most were laughing. I like that there are more people on board now.

I think if you look at fundamentals we're going to see some USD strength throughout a good portion of this year. Before that, I think the recent USD strength needs a correction. So basically, I'm arguing that fundamentals are aligning with technicals indicating a run up to the 55 ema you plotted and then a "KABOOM" lol

I hope we're all there for both rides!
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  • #211,151
  • Jan 5, 2010 9:47pm Jan 5, 2010 9:47pm
Quoting Geppy
Couldn't agree more....
Took your time. Bullish since early December. 187 fits as a retest of the broken TL in queecees chart.

http://www.forexfactory.com/showpost...stcount=209843
  • #211,152
  • Jan 5, 2010 10:57pm Jan 5, 2010 10:57pm
Quoting JhonMonsalve
Yep Geppy! Gann works great, mostly on higher TF's [Daily, Weekly & Monthly]

Price is above Daily & Weekly Gann, and below Monthly, on Monthly charts we could see an engulfing candle, a close above Monthly Gann would be a very strong bullish sign.
A 4h candle closing above 147 and
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #211,153
  • Jan 5, 2010 10:58pm Jan 5, 2010 10:58pm
Quoting JhonMonsalve
A 4h candle closing above 147 and
Don't jinx it!!! lol
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  • #211,154
  • Jan 5, 2010 11:04pm Jan 5, 2010 11:04pm
Quoting Geppy
Don't jinx it!!! lol
Lol no, just trading the same chart like most of the traders here

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"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #211,155
  • Jan 5, 2010 11:35pm Jan 5, 2010 11:35pm
Quoting JhonMonsalve
Lol no, just trading the same chart like most of the traders here

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I know, just messin bro. Lookin good for longs!
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  • #211,156
  • Edited 11:54pm Jan 5, 2010 11:37pm | Edited 11:54pm
it doesn`t look like a 3rd wave. It`s - a 2nd wave, may be or a trap.
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  • #211,157
  • Jan 6, 2010 1:14am Jan 6, 2010 1:14am
real war going on huh
Annoying Precision
  • #211,158
  • Jan 6, 2010 1:21am Jan 6, 2010 1:21am
wandering if I should close my long position
Annoying Precision
  • #211,159
  • Jan 6, 2010 1:24am Jan 6, 2010 1:24am
Quoting erikte279
real war going on huh
the GU is trying to decide what to do at 1.60 and the U/J is trying to decide what to do at 92.

we will have our answer when london opens.
  • #211,160
  • Jan 6, 2010 1:25am Jan 6, 2010 1:25am
2 banks with a grudge?
Annoying Precision
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