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

  • #212,901
  • Jan 22, 2010 3:51pm Jan 22, 2010 3:51pm
Quoting quecee5
Dropped to 142.26. . . = huge volume hope u weren't long. . .
  • #212,902
  • Jan 22, 2010 3:53pm Jan 22, 2010 3:53pm
Quoting quecee5
Dropped to 142.26. . . = huge volume hope u weren't long. . .
joke...price at 144.80-85 up and down....good night guys and c ya next week.
MY OPINION NOT FINANCIAL ADVISE
  • #212,903
  • Jan 22, 2010 3:57pm Jan 22, 2010 3:57pm
ok were we go again.. we are again in a wedge formation on daily..i attached 2 charts,,the current one at 4 hour,and the one ,we are in on daily ..

so we will go down to the 78.6 fib at 141.69,,then all the way up to the 78.6 fib,,roughly 148 somewhere... and then we will break out outside the wedge after wave 5 to 135,130,125,or 118,,dont know..

flame me ,if you want,,, this is the pattern we are in at the moment..ill stick to short till 142,and then reverse it to 148,,then load it big time up for the huge break out ..
Attached Image(s) (click to enlarge)
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  • #212,904
  • Jan 22, 2010 4:11pm Jan 22, 2010 4:11pm
Quoting donfriday
joke...price at 144.80-85 up and down....good night guys and c ya next week.
Lol...i thought my line problem wan buy a new modem...hahaha....jk also ...have a nice weekend all. Night guys
  • #212,905
  • Jan 22, 2010 4:15pm Jan 22, 2010 4:15pm
Quoting Gucc
ok were we go again.. we are again in a wedge formation on daily..i attached 2 charts,,the current one at 4 hour,and the one ,we are in on daily ..

so we will go down to the 78.6 fib at 141.69,,then all the way up to the 78.6 fib,,roughly 148 somewhere... and then we will break out outside the wedge after wave 5 to 135,130,125,or 118,,dont know..

flame me ,if you want,,, this is the pattern we are in at the moment..ill stick to short till 142,and then reverse it to 148,,then load it big time up for the huge break out ..
wow bro, you have a nice calculation there. Looks like a system method when got wedged...NIce system
  • #212,906
  • Jan 22, 2010 4:17pm Jan 22, 2010 4:17pm
rgitt don't trade naked , at least get a towel ...
next week roller coaster with you again. Book me more ticket ya...i wan a big huge wave one.
  • #212,907
  • Jan 22, 2010 4:22pm Jan 22, 2010 4:22pm
Quoting special0nefx
wow bro, you have a nice calculation there. Looks like a system method when got wedged...NIce system

ive work out,,an aggresive move,,that you can make over 100k$ from 5k ,...

short now,till 142..go long,without a stop at 141.80 with 2 std lots,, exit at 148..reverse to short at 148 with 3 std lots... add aonter 3 on breakout of wedge +- 144.. exit with 6 lots at 130...

bang 100k..RISKING ONLY 5K$

just a thought!!
  • #212,908
  • Jan 22, 2010 4:29pm Jan 22, 2010 4:29pm
i post earlier,that we will get a support at 135,then a spike low to 130,,,and geuss what,, the wedge pattern target is 1400 pips,,if breakout at 144,then we will reach the major support at 130...
Attached Image (click to enlarge)
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  • #212,909
  • Jan 22, 2010 5:33pm Jan 22, 2010 5:33pm
Quoting quecee5
If the whole move from 251 to 118 was a correction then we would be looking at ABC correction and if the wave from 118-163 is the start of a new trend up wouldn't it be 1-2-3-4-5. . . bigger picture. . . and eventually we would have several 1-2-3-4-5 then abc then 1-2-3-4-5 then abc and eventually the 251 high would be taken. . .
Thanks for your insight. Like I said, i'm no EW follower, just thought each scenario was interesting. I think Pandora has a similar view to this scenario where we started W1 at 118.

You mentioned Wave 3 would normally not be that short on my 2nd chart, but I thought the only 'rule' about W3 was that it cannot be the shortest of the 3 waves. Are you speaking from experience here, or have I missed something from my EW For Dummies pdf. (jok)
  • #212,910
  • Jan 22, 2010 8:36pm Jan 22, 2010 8:36pm
Quoting ukdaytrader
Thanks for your insight. Like I said, i'm no EW follower, just thought each scenario was interesting. I think Pandora has a similar view to this scenario where we started W1 at 118.

You mentioned Wave 3 would normally not be that short on my 2nd chart, but I thought the only 'rule' about W3 was that it cannot be the shortest of the 3 waves. Are you speaking from experience here, or have I missed something from my EW For Dummies pdf. (jok)
W3 is usually the longest and the most powerful wave of 5, but like you said, that is not always the case. If W3 is shorter than 161 FE of W1 then it is much probable that W5 would be the longest. The major delema I have with the 5 waves down move scenario is that the initial wave from 251 was not an impulse wave. therefore it is probable that the move down from 251 - 118 should be counted as ABC correction, but that is just my view. trade what you see.
  • #212,911
  • Jan 23, 2010 3:12am Jan 23, 2010 3:12am
Quoting pkimnyc
W3 is usually the longest and the most powerful wave of 5, but like you said, that is not always the case. If W3 is shorter than 161 FE of W1 then it is much probable that W5 would be the longest. The major delema I have with the 5 waves down move scenario is that the initial wave from 251 was not an impulse wave. therefore it is probable that the move down from 251 - 118 should be counted as ABC correction, but that is just my view. trade what you see.
Your count from 251-118 can be a possible for ABC correction, but if you draw from 251-118, FE 161 is reached, which is complete for wave 1 to wave 3 but is same for A to C also. That is why is a dilemma now.

1. If is 1-2-3 so now is forming 4 and will be 5 going down.
2. If is A-B-C so now is wave 1-2 then will be 3 going up.

This 2 scenario is different move. That is why need to wait and maybe other method to compare the move is up or down only we can confirm where she heading to , north or south?
As for me i prefer 1 as my count now
  • #212,912
  • Jan 23, 2010 6:02am Jan 23, 2010 6:02am
Quoting special0nefx
Your count from 251-118 can be a possible for ABC correction, but if you draw from 251-118, FE 161 is reached, which is complete for wave 1 to wave 3 but is same for A to C also. That is why is a dilemma now.

1. If is 1-2-3 so now is forming 4 and will be 5 going down.
2. If is A-B-C so now is wave 1-2 then will be 3 going up.

This 2 scenario is different move. That is why need to wait and maybe other method to compare the move is up or down only we can confirm where she heading to , north or south?
As for me i prefer 1 as my count now
let's look at the Dow, Gold and stocks; where will be the next move or what are the prospects for each of them for this year?
if Gold will be heading up then USD shall be weakening further and GJ will follow in opposite direction of Yen strengthening. if this is the case for year 2010 then GJ is on wave 5. otherwise ABC correction of Q is valid.
  • #212,913
  • Jan 23, 2010 6:09am Jan 23, 2010 6:09am
Quoting metlife777
let's look at the Dow, Gold and stocks; where will be the next move or what are the prospects for each of them for this year?
if Gold will be heading up then USD shall be weakening further and GJ will follow in opposite direction of Yen strengthening. if this is the case for year 2010 then GJ is on wave 5. otherwise ABC correction of Q is valid.
the most probable scenario for USD is strengthening for this year if we assume that EU is on new trend down and if that would the case we might expect similar scenario to 2008 but only with less magnitude, which leads us to assume that GJ now at early stage of wave 5 JMHO
  • #212,914
  • Jan 23, 2010 6:17am Jan 23, 2010 6:17am
Quoting quecee5
Dropped to 142.26. . . = huge volume hope u weren't long. . .
evil bast
  • #212,915
  • Jan 23, 2010 8:09am Jan 23, 2010 8:09am


In celebration of my 100th post, I thought I would offer my medium to long-term view for GY.

Please, don't pour scold on it too quickly.
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #212,916
  • Jan 23, 2010 10:23am Jan 23, 2010 10:23am
This is what i could start next month where 141.50 would be my observation through this setting till 25 Feb 2011...............

So with EY where 123.50-121 will be my obsevation unless 121 break then i could wait at 119-117 area...........

  • #212,917
  • Jan 23, 2010 12:57pm Jan 23, 2010 12:57pm
Quoting special0nefx
Your count from 251-118 can be a possible for ABC correction, but if you draw from 251-118, FE 161 is reached, which is complete for wave 1 to wave 3 but is same for A to C also. That is why is a dilemma now.

1. If is 1-2-3 so now is forming 4 and will be 5 going down.
2. If is A-B-C so now is wave 1-2 then will be 3 going up.

This 2 scenario is different move. That is why need to wait and maybe other method to compare the move is up or down only we can confirm where she heading to , north or south?
As for me i prefer 1 as my count now
sorry.... not quite sure what you've meant by FE 161 of 251-118...
hope you meant FE 161 was reached from 251 to 192.50, then yes 118 is FE 161.

2nd Scenario... just because we had ABC correction down does not neccessarily mean we will have 12345. it can well be another ABC correction. like i said before, if that is what you see then trade what you see.
  • #212,918
  • Edited 3:02am Jan 24, 2010 1:02am | Edited 3:02am
143.45....

We have Bullish Divergence Here..
Attached Image (click to enlarge)
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Markets are not Random, they are designed!
  • #212,919
  • Jan 24, 2010 1:25am Jan 24, 2010 1:25am
we will see 141.67,,reverse to 148.50/149 , and then a breakout to 135,spike low to 130.... done !.. then were a lengthy and tortous basing process ought to start..

its where no one want to be or try to be in.
  • #212,920
  • Jan 24, 2010 2:17am Jan 24, 2010 2:17am
Quoting Gucc
we will see 141.67,,reverse to 148.50/149 , and then a breakout to 135,spike low to 130.... done !.. then were a lengthy and tortous basing process ought to start..

its where no one want to be or try to be in.
i like this number and so with 139.50/70
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