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

  • #214,121
  • Feb 3, 2010 1:11pm Feb 3, 2010 1:11pm
Shorting G/J is a bad idea till 146 zone.

If it breaks 146, then we are heading to 148.50-149 zone.
  • #214,122
  • Feb 3, 2010 1:18pm Feb 3, 2010 1:18pm
Quote
I've come to the conclusion that none of you know where it's headed, I've watched all these thread for past couple wks, and you all are all over with your opinions, and they are as bad as the projections on FX360.com, which few materialize...my stoch has crossed up, but my EMA cross is running parallel with indecision..I lose money every time I try to trade this pair...LOL bye now

I know mate.

If you read the threads, everyone was saying short on G/U.

Short may even work out in the next few days but it is heading first to 146 before deciding what to do next.
  • #214,123
  • Feb 3, 2010 1:18pm Feb 3, 2010 1:18pm
here is my technical view ,why the gj is on its way to 153.50/90.. before we see a real downside breakout to lower lows..

this chart is the UJ...

its clear cut call.
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  • #214,124
  • Feb 3, 2010 1:23pm Feb 3, 2010 1:23pm
UJ rose 120 pips basically in a straight line - can't recall the last time that's happened. Thus, admirable USD strength. During the same time, GJ delivered 70 pips. It is normally the other way around. For those that watched the GJ PA prior to the move up, it was a supreme struggle; for the first half of UJ's rise, GY was barely able to maintain 144.55 support & was trending opposite, needing to bounce off it 6x for the upwards trajectory.

While UJ surged, the net result of GY was a 10-20 pip gain over previously reached 145/145.1 levels, getting to 145.27. Thus, it's hard to expect 153 from this upward wave of GJ - I still feel there's unresolved testing of 144/143.x; you can almost be certain that the DPP @ 144.47 will be tested by Tokyo - we look firmly to be in retrace mode at time of writing; I will add GJ looks to be easily giving up it's gains, while UJ is not.

While there might be a bit more upside towards 145.5, GY seems incredibly unwilling to go up - just look at GU: it's a straight down story. Friday's PA will be of the most interesting kind - am hoping to make up for some lost pips from this week - have found the PA very frustrating and non-GJish. Including a M15 chart overlaying (fl. green) GY line over UJ's progress today.
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  • #214,125
  • Feb 3, 2010 1:30pm Feb 3, 2010 1:30pm
Quoting Beljevina
UJ rose 120 pips basically in a straight line - can't recall the last time that's happened. Thus, admirable USD strength. During the same time, GJ delivered 70 pips. It is normally the other way around. For those that watched the GJ PA prior to the move up, it was a supreme struggle; for the first half of UJ's rise, GY was barely able to maintain 144.55 support & was trending opposite, needing to bounce off it 6x for the upwards trajectory.

While UJ surged, the net result of GY was a 10-20 pip gain over previously reached 145/145.1 levels, getting...
Yep, my sentiments exactly.
  • #214,126
  • Feb 3, 2010 1:31pm Feb 3, 2010 1:31pm
Quote
UJ rose 120 pips basically in a straight line - can't recall the last time that's happened. Thus, admirable USD strength. During the same time, GJ delivered 70 pips. It is normally the other way around. For those that watched the GJ PA prior to the move up, it was a supreme struggle; for the first half of UJ's rise, GY was barely able to maintain 144.55 support & was trending opposite, needing to bounce off it 6x for the upwards trajectory.

While UJ surged, the net result of GY was a 10-20 pip gain over previously reached 145/145.1 levels, getting...

Yes it is going to be retrace on both G/J and U/J but its equal to playing a counter trend play while shorting them at this point to grab few pips.

U/J is a monthly breakout and the trend is up till 93 resistance zone. I am looking for retracement to add few more buys at lower levels to play it up till 93 in 5-7 days.

G/J needs to break 146 or resist its move at 146 to play the trend.
  • #214,127
  • Feb 3, 2010 1:37pm Feb 3, 2010 1:37pm
The trend to me is still down, 146 would invalidate it
EJ also re-testing weekly support/resistance at 127
Attached Image
  • #214,128
  • Feb 3, 2010 1:37pm Feb 3, 2010 1:37pm
Quoting kingfisher
Yes it is going to be retrace on both G/J and U/J but its equal to playing a counter trend play while shorting them at this point to grab few pips.

U/J is a monthly breakout and the trend is up till 93 resistance zone. I am looking for retracement to add few more buys at lower levels to play it up till 93 in 5-7 days.

G/J needs to break 146 or resist its move at 146 to play the trend.

UJ ---->99/100 @161FE,38.2/61.8 CONFl..
GJ----->153.50/90...
  • #214,129
  • Feb 3, 2010 1:39pm Feb 3, 2010 1:39pm
Quoting Beljevina
UJ rose 120 pips basically in a straight line - can't recall the last time that's happened. Thus, admirable USD strength...
The GU is holding the GJ in this range.. uj going up like you said, but the GU is doing the opposite. I seem to recall that the GJ used to follow the GU (08/ealry 09)very closely, and only occassionally be influenced strongly by the UJ..

At the moment, till GU goes up.. highs will be in the 146 area

just my thoughts..
  • #214,130
  • Feb 3, 2010 1:40pm Feb 3, 2010 1:40pm
Quoting sfg7th
I've come to the conclusion that none of you know where it's headed, I've watched all these thread for past couple wks, and you all are all over with your opinions, and they are as bad as the projections on FX360.com, which few materialize...my stoch has crossed up, but my EMA cross is running parallel with indecision..I lose money every time I try to trade this pair...LOL bye now
You sound quite jaded - no one has ever published that they know exactly where GJ, GU are headed - if they 100% did, they wouldn't be contributing very valid assessments & predictions to this community. Plus, you're missing a very important piece from your statement: timeframe. We all know there's a 50/50 split on the next direction, but the question is 1) when are you saying it will get there and 2) how much drawdown can you incur in the meantime. Frankly, your post comes across as chastising people who are genuinely contributing analysis in the spirit of helping; it's up to you to apply your trading knowledge and discern which analysis works for you and over what timeframe.

Forex trading is not a charity and this is not a 100% guaranteed FAQ on what to do. Learn to trade, assess analysis, and accept responsibility for decisions.
  • #214,131
  • Feb 3, 2010 1:41pm Feb 3, 2010 1:41pm
beat this !!!

16 tabling 5 hour session!!

multi tasking while the market is preparing for a setup..it can take days,even weeks ,testing your patience to the limits..

Attached Image
  • #214,132
  • Feb 3, 2010 1:42pm Feb 3, 2010 1:42pm
UJ is going up, but it's still failed to make a new high, (talking about previous high of 91.8) double bottom at 85 just as likely in my view
  • #214,133
  • Feb 3, 2010 1:46pm Feb 3, 2010 1:46pm
Quoting gucc
uj ---->99/100 @161fe,38.2/61.8 confl..
Gj----->153.50/90...
uj 93/94
gu 1.53/55

gj 142/145
  • #214,134
  • Feb 3, 2010 1:47pm Feb 3, 2010 1:47pm
Quoting Clouds
The trend to me is still down, 146 would invalidate it
EJ also re-testing weekly support/resistance at 127
Attachment
... and just look at that retrace: GJ's given up all it's gains based on UJ's rally, while UJ's retrace <20%. GU continues to go straight down - 200+ pip of a drop over the last 10 hours - that's real sterling weakness for you.
  • #214,135
  • Feb 3, 2010 1:58pm Feb 3, 2010 1:58pm
Quoting Gucc
beat this !!!

16 tabling 5 hour session!!

multi tasking while the market is preparing for a setup..it can take days,even weeks ,testing your patience to the limits..

I do that all the time, but with 24 tables (I'm serious)
check out my blog: forexmademillionaire dot com
  • #214,136
  • Feb 3, 2010 2:01pm Feb 3, 2010 2:01pm
Quoting Geppy
I do that all the time, but with 24 tables (I'm serious)
on what site ??
lets HU 5/10 nl ?
  • #214,137
  • Feb 3, 2010 2:02pm Feb 3, 2010 2:02pm
I just added more longs and still targeting 145.60

Bears (in my opinion) would be premature to get excited by this slight drop. There is a clear up-trend channel on 15-1H time frames and we're simply testing the bottom trendline of it now.
check out my blog: forexmademillionaire dot com
  • #214,138
  • Feb 3, 2010 2:02pm Feb 3, 2010 2:02pm
Quoting Gucc
on what site ??
lets HU 5/10 nl ?
I only play 4-6 HUs at a time (it's a lot more intense)... usually on stars, cake or FT.
check out my blog: forexmademillionaire dot com
  • #214,139
  • Edited 2:27pm Feb 3, 2010 2:07pm | Edited 2:27pm
Hmm, UJ's rally.
UJ4h
GJ4h EW
not sure
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  • #214,140
  • Feb 3, 2010 2:08pm Feb 3, 2010 2:08pm
Quoting Cdawg
The GU is holding the GJ in this range.. uj going up like you said, but the GU is doing the opposite. I seem to recall that the GJ used to follow the GU (08/ealry 09)very closely, and only occassionally be influenced strongly by the UJ..

At the moment, till GU goes up.. highs will be in the 146 area

just my thoughts..
Agreed, but do think on the long run UJ is more important for GJ than GU, remember G and U are both flawed currencies.....
Don't be a hero. Don't have an ego. Always question yourself
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