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

  • #214,961
  • Feb 9, 2010 8:24am Feb 9, 2010 8:24am
Quoting special0nefx
What i prefer gj can take 146 there...only Kaboom...We Follow the trend
this week market not good so far and indi will give several signal so just take what is urs and run...i;m only scalping for now.
MY OPINION NOT FINANCIAL ADVISE
  • #214,962
  • Feb 9, 2010 8:31am Feb 9, 2010 8:31am
Quoting sagard21
Is this discussion meant for anyone who joins forexfactory??? I am willing to learn as much as i can. do you often post your comments here or where can i read more about your signals and discussions?
yeah of course dude.

this thread is for anyone and everyone.
  • #214,963
  • Feb 9, 2010 8:36am Feb 9, 2010 8:36am
....
  • #214,964
  • Feb 9, 2010 8:42am Feb 9, 2010 8:42am
More like consolidation. There's just way too much selling pressure for any decent movement. I have a sell limit waiting at 141. Hopefully it can get there in the next few hours. Otherwise I might have to settle for 140.
  • #214,965
  • Feb 9, 2010 8:44am Feb 9, 2010 8:44am
Quoting donfriday
this week market not good so far and indi will give several signal so just take what is urs and run...i;m only scalping for now.
Ya , Now follow EW technical count to see big picture. But Daily Gann chart will show us the signal more clear a bit. This will be a hard week to see any breakout. Anyway Patient is tested on us
  • #214,966
  • Feb 9, 2010 9:05am Feb 9, 2010 9:05am
Quoting direct-trade
Hi Q,

I would say this Daily formation is Bullish and a retracement before any further fall.

Of course, I will need to see how today closes, we could dip down to your first target and still close above where we are right now.

I just think that we have accumulation and seller exhaustion here.

OF course, I could be completely wrong, just my perspective.

I'll continue to hold the G/J Long
All I can say is be careful my friend. . . GU looks like a bear flag developing IMO and gj - well can't even close above 140 at the moment and major support has been broken. . . Think we will see lower in both very soon and my targets are firm for now.

I agree - lets see how the daily closes but so far it look like "sell" the all rallies for now. . .

However a close above 141.50/142 could bring further rise to at least 143 per my chart otherwise PA is calling for much lower price.

But that's just my opinion of course or what I see in the charts. . .
  • #214,967
  • Feb 9, 2010 9:13am Feb 9, 2010 9:13am
Quoting quecee5
I agree - lets see how the daily closes but so far it look like "sell" the all rallies for now. . .

However a close above 141.50/142 could bring further rise to at least 143 per my chart otherwise PA is calling for much lower price.

But that's just my opinion of course or what I see in the charts. . .
if you didnt have any positions where would you be looking to short from now? 140 area? it has failed to hold above it for any length of time. but then its also failed to hold below that 139.30 support as well.

i still think 141will be tested first, i wouldnt mind a sell if it bounces off that.
  • #214,968
  • Feb 9, 2010 9:26am Feb 9, 2010 9:26am
Quoting ewokuk
if you didnt have any positions where would you be looking to short from now? 140 area? it has failed to hold above it for any length of time. but then its also failed to hold below that 139.30 support as well.

i still think 141will be tested first, i wouldnt mind a sell if it bounces off that.
See my chart http://www.forexfactory.com/showthre...582&page=14332

I would short on a daily close below 141 or if we manage to get a close above 141 I would wait for a touch of the minor resistance zone to "start shorting" allowing room for a spike to at leat 143/143.60/70 area. . .

Watch the fibs I have on my chart seems to be proving out so far. . .
  • #214,969
  • Feb 9, 2010 9:29am Feb 9, 2010 9:29am
Quoting quecee5
All I can say is be careful my friend. . . GU looks like a bear flag developing IMO and gj - well can't even close above 140 at the moment and major support has been broken. . . Think we will see lower in both very soon and my targets are firm for now.

I agree - lets see how the daily closes but so far it look like "sell" the all rallies for now. . .

However a close above 141.50/142 could bring further rise to at least 143 per my chart otherwise PA is calling for much lower price.

But that's just my opinion of course or what I see in the...
Hi Q,

Many thanks for your reply. What you say makes perfect sense and I would be Short any rally, but I spotted a couple of clearer's begining to slowly buy the Pound last Friday. Beats me why, but I must go with what they are doing...

Which clearer's? For once I'm not sure, they have changed their buying signature and trying to evade detection, but could be a Chinese signature via 2 M.E clearers.

I'm not trying to be an arse, but I see buying so will hold this G/J 14020 and G/U 1590,15690 for now.

However, I wish us both the best of luck with the trades.
  • #214,970
  • Edited 10:06am Feb 9, 2010 9:49am | Edited 10:06am
Quoting direct-trade
Hi Q,

Many thanks for your reply. What you say makes perfect sense and I would be Short any rally, but I spotted a couple of clearer's begining to slowly buy the Pound last Friday. Beats me why, but I must go with what they are doing...

Which clearer's? For once I'm not sure, they have changed their buying signature and trying to evade detection, but could be a Chinese signature via 2 M.E clearers.

I'm not trying to be an arse, but I see buying so will hold this G/J 14020 and G/U 1590,15690 for now.

However, I wish us both the best of luck...
Bro - trade your charts as money can be made in this market both ways. . . My only comment is we consolidated for days in fact weeks only to break significant support levels.

Therefore, depending on what type of trader you are the direction has been set and looks to be a continuation south. . .

However, this more than likely won't happen in a straight line therefore a retrace to some level is forthcoming. As it stands 141 looks to be formidable resistance ATM and until broken with a daily close above selling rallies below it looks to be the way to go. . .

Good luck my friend just watch those levels on the chart. . . as the weekly chart doesn't bold well for longs right now and we could see 129/130 sooner rather than later but that too is just my opinion based on the charts. . .

Also keep in mind I'm short 147.20, 146.28, 145.50 and 144.18 so our trade opinions will differ based on the trading style. . .
  • #214,971
  • Feb 9, 2010 10:28am Feb 9, 2010 10:28am
Quoting quecee5
Bro - trade your charts as money can be made in this market both ways. . . My only comment is we consolidated for days in fact weeks only to break significant support levels.

Therefore, depending on what type of trader you are the direction has been set and looks to be a continuation south. . .

However, this more than likely won't happen in a straight line therefore a retrace to some level is forthcoming. As it stands 141 looks to be formidable resistance ATM and until broken with a daily close above selling rallies below it looks to be the...
Thanks for the advice bro, you are right, opinions will differ depending on trading style/current positions. Well done on your 147 shorts, nice.

It's just that the last time I saw this exact kind of PA on the tape we were at the bottom at 119, but I'm probably wrong this time. I'll just have to hold and see.

G/L to both of us, really appreciate your thoughts bro.
  • #214,972
  • Edited 10:41am Feb 9, 2010 10:30am | Edited 10:41am
not sure
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  • #214,973
  • Feb 9, 2010 10:39am Feb 9, 2010 10:39am
some german on reuters saying eu govts to help greece (but nothing confirmed yet). shooting everything higher for......absolutely no reason
  • #214,974
  • Feb 9, 2010 10:45am Feb 9, 2010 10:45am
Man, when she moves, she MOVES! +60 iin under a minute??
Gotta love that pair .. if she doesn't send you to poorhouse first
******************* I'd rather make money than be right.
  • #214,975
  • Feb 9, 2010 10:46am Feb 9, 2010 10:46am
That's 4 pretty significant bounces off the LTL now. Dey playin' ping pong wit us.
I know for a fact that there will be many frustrated traders hoping for the break of support.
  • #214,976
  • Feb 9, 2010 10:47am Feb 9, 2010 10:47am
Quoting quecee5
Bro - trade your charts as money can be made in this market both ways. . . My only comment is we consolidated for days in fact weeks only to break significant support levels.

Therefore, depending on what type of trader you are the direction has been set and looks to be a continuation south. . .

However, this more than likely won't happen in a straight line therefore a retrace to some level is forthcoming. As it stands 141 looks to be formidable resistance ATM and until broken with a daily close above selling rallies below it looks to be the...

thank you bro your chart is good and you are a good trader for swinge need to ask you how to set H8 chart in mt4
  • #214,977
  • Feb 9, 2010 10:52am Feb 9, 2010 10:52am
Quoting ukdaytrader
That's 4 pretty significant bounces off the LTL now. Dey playin' ping pong wit us.
I know for a fact that there will be many frustrated traders hoping for the break of support.
Yes, two days ping pong PA. Can't trade this
Addicted to FX
  • #214,978
  • Feb 9, 2010 11:01am Feb 9, 2010 11:01am
Quoting quecee5
My only comment is we consolidated for days in fact weeks only to break significant support levels.
quecee5, I'm with you on this one.

On my charts, we went through 140 on the way up in late March last year. That level has acted as support at least four times since then, until the last couple of days when there was a clear move down and through.

Other points:
- Volume appears to have been higher on downward moves (and lower on upward) over the last few weeks.

- There's a downward trendline from August's high.

- Potential bearish pins are forming on both the daily and weekly charts, retesting 140 from underneath (although that's suddenly changed with this announcement about Greece).

If the weekly pin forms, I'll be selling hard; I'll put in a smaller short if we get a daily pin develop later.

If that happens, I have 135.5 as my next major target. That's both the level of the last bullish pin we had at the end of March last year before thrusting above 140, and it's also right on the 38 fib of the move from Jan 2009's bottom to August 2009's top (the 50 fib of which is just below 141!).

We'll see whether this afternoon's announcement about Greece makes a change of plan necessary!

olpip
  • #214,979
  • Feb 9, 2010 11:01am Feb 9, 2010 11:01am
ping pong players: 140.50 and 139.25.
looks like 139.25 is a winner so far. let's see the response...
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #214,980
  • Feb 9, 2010 11:04am Feb 9, 2010 11:04am
Quoting donfriday
sellers on GJ have to be caution if we dont see a clear break of both side gj last week closing price and last week friday high is also resistance...daily iis building some fat bullish divergence and i it it's not confirm yet ....i am on both side but i cant marry both side even i am bearish on GJ as long as price remain below 143 and 145......
enjoy the pips we should have some breakout today ...overall correction stays at 143.50-144.00 ...enjoy
slow correction then we see major PA...it was hard to climb meaning no strong buyers?....let see ..scalping day for me crazy pA.
MY OPINION NOT FINANCIAL ADVISE
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