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

  • #211,241
  • Jan 6, 2010 2:02pm Jan 6, 2010 2:02pm
Quoting metlife777
congrats all who went long, now is time for bear's lunch
After we hit 154/155. . .
  • #211,242
  • Jan 6, 2010 2:05pm Jan 6, 2010 2:05pm
Quoting ewokuk
gj seems to be using the 38.2 as support at the moment after failing to break the 50% earlier. id like to take a long, probably right here just under 148 but im not entirely sure i trust it.
Should be a good amount of support at 147.22 up 147.70 area for longing.

We've already tested 147.15 support so we should be good moving to the next resistance. . . a close above 148.15/30 would be nice if not I'll take a close above 147.22 any day. . .

Next resistance after 148.30 is taken out will be 149.40/50 area. . .

Congrats to all longs who hung in there with those longs. . .
  • #211,243
  • Jan 6, 2010 2:07pm Jan 6, 2010 2:07pm
Quoting quecee5
After we hit 154/155. . .
that high

perhaps my long at 147.98 is ok then

i should thank quecee for pointing out the call the other day, i took a long from 146.18 yesterday at start of asia, grabbed a quick 100 pips and closed it, unfortunately too soon but im in again now hopefully asia is kind to me.
  • #211,244
  • Jan 6, 2010 2:14pm Jan 6, 2010 2:14pm
Quoting quecee5
After we hit 154/155. . .
That's when I'll at least consider switching camps too!
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  • #211,245
  • Edited 2:37pm Jan 6, 2010 2:15pm | Edited 2:37pm
Quoting ewokuk
that high

perhaps my long at 147.98 is ok then

i should thank quecee for pointing out the call the other day, i took a long from 146.18 yesterday at start of asia, grabbed a quick 100 pips and closed it, unfortunately too soon but im in again now hopefully asia is kind to me.
my thoughts on GJ long term. . . "higher if and only if" we take out long-time resistance from Nov 2007. . . green EMA. . . otherwise 154/55 is in the cards according to what I'm seeing. . .

http://www.forexfactory.com/showthre...582&page=14078
  • #211,246
  • Jan 6, 2010 2:50pm Jan 6, 2010 2:50pm
bah got take out at +1, ill wait and hope for a slightly better entry below 148
  • #211,247
  • Jan 6, 2010 3:29pm Jan 6, 2010 3:29pm
Perhaps some sideways trading until we hit this channel and then another leg up?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.JPG Size: 55 KB
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  • #211,248
  • Jan 6, 2010 3:34pm Jan 6, 2010 3:34pm
Quoting Geppy
Perhaps some sideways trading until we hit this channel and then another leg up?
would seem to make sense, that would put it right around 147.80 area where the resistance is anyway. its not far off that now, may even hit before ny close
  • #211,249
  • Jan 6, 2010 3:37pm Jan 6, 2010 3:37pm
Quoting ewokuk
would seem to make sense, that would put it right around 147.80 area where the resistance is anyway. its not far off that now, may even hit before ny close
Yeah, definitely looks to be "coiling" for the next spring. Did you grab a new long yet?
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  • #211,250
  • Jan 6, 2010 3:37pm Jan 6, 2010 3:37pm
only for imagination..!! but keep in mind

a H&S pattern that might forming..
Attached Image (click to enlarge)
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  • #211,251
  • Jan 6, 2010 3:42pm Jan 6, 2010 3:42pm
Quoting Gucc
only for imagination..!! but keep in mind

a H&S pattern that might forming..
You're very early, but seldom see working H&S signals in forex....
Don't be a hero. Don't have an ego. Always question yourself
  • #211,252
  • Jan 6, 2010 3:48pm Jan 6, 2010 3:48pm
Quoting USD-Bear
You're very early, but seldom see working H&S signals in forex....
Agreed, I used to get annoyed by posts like that. Now they're just comedic relief
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  • #211,253
  • Jan 6, 2010 3:49pm Jan 6, 2010 3:49pm
This might give us a chance to enter a GJ long around 147.30....

Attached Image (click to enlarge)
Click to Enlarge Name: Picture0015.png Size: 23 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #211,254
  • Jan 6, 2010 3:49pm Jan 6, 2010 3:49pm
Quoting Geppy
Yeah, definitely looks to be "coiling" for the next spring. Did you grab a new long yet?
not quite yet but im about to long gj any minute now

edit just went long 147.86
  • #211,255
  • Jan 6, 2010 4:00pm Jan 6, 2010 4:00pm
Quoting ewokuk
not quite yet but im about to long gj any minute now

edit just went long 147.86
GY and AY look set for a wee drop into Asia IMO.

15m TF, very high volume comparitively around 147.90 12 bars ago. (3 hours ago). There was buying there, but it was swamped by sellers. Mini Distribution or profit taking maybe...

Will hold AY short and entered a small GY short in a sub account. (scalp).

Chart.
Attached Image (click to enlarge)
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  • #211,256
  • Jan 6, 2010 4:05pm Jan 6, 2010 4:05pm
i saw that but its just fomc news spike and i have a feeling it was bought into, if it was all selling i think it would have dropped like a rock on that volume. also looked like a bit of buying on uj and gj in last 20 mins before ny close. so if it drops a bit i hope its not too much.

it has bounced off the 1h trendline and 38.2 fib at 147.80 on gj and double bottomed on uj seemingly using the 20 hour ma as support. gj 1h also looks a lil like a bull flag that may be ready to break.

if we clear 148 then ill move stop to BE and HOPEFULLY it doesnt revisit below 148 again so i can wake up to some nice pips instead of 1 pip! hopefully it can clear 148.35 area then theres some proper support between me and the price.
  • #211,257
  • Jan 6, 2010 4:57pm Jan 6, 2010 4:57pm
AY + 20, GY +9.

Too slow PA for my liking. Could still go lower, but i'm grabbing the pips while they're there.

As has been said, we could be basing here for the next leg up, so not worth taking any risks.
  • #211,258
  • Jan 6, 2010 4:58pm Jan 6, 2010 4:58pm
the more you try to read about other proff. traders advice,the more you get confused.. i just go through the dailyfx website of jamie seattle and all the other.. and most of them are short jpy crosses. i never follow any =ones advice,,

im 95% sure the jpy crosses poised to the upside, first before any downmove " if any" if not reversal..

who is right ? and its not the only useless website who say that.. most of them is jpy crosses down..

the winners take the losers money
  • #211,259
  • Jan 6, 2010 4:59pm Jan 6, 2010 4:59pm
Quoting USD-Bear
This might give us a chance to enter a GJ long around 147.30....

Attachment
hehe, I like how you're eyes are peeled for long opportunities now. Nice to be playing both sides!
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  • #211,260
  • Jan 6, 2010 5:03pm Jan 6, 2010 5:03pm
Quoting Gucc
the more you try to read about other proff. traders advice,the more you get confused.. i just go through the dailyfx website of jamie seattle and all the other.. and most of them are short jpy crosses.
Egg-cellent, you just confirmed my longs with their advice (my contrarian indicator)... those guys don't know their ass from a pip.
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