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

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

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#215,161
Feb 10, 2010 2:29pm Feb 10, 2010 2:29pm

pipsbull
Joined Sep 2008 | Status: happy | 735 Posts

Quoting Gucc

Disliked

bull.. the H&S wont play out i geuss and bear flag not thT VALID,, so points to both of us... we try hard to predict the next move ,but we aint getting nowhere... its ----------sideways .. its a coin filp now,,

head is long
tail is short

you decide !

Ignored

I let those charts to decide. Here is what I have: yen is a little bullish for now and may go to the top of the channel and 50ema. As long as it holds it is bearish long term. Gbp is bearish, but it needs more momentum to break the recent low, as of now, I expect a pullback to 1.565. Looking straight to g/j, well, it is a matter of fact, whether 1hr Gann or 4hr's will give up. The time is also important when it happens, but, personally, I lean towards downstairs...

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#215,162
Feb 10, 2010 3:01pm Feb 10, 2010 3:01pm

pipsbull
Joined Sep 2008 | Status: happy | 735 Posts

Here is also a weekly chart of pound/jpy:
Very bearish: Gann flipped up; QQE below 50 and crossed the dotted line.
Check out previously what happened when 5sma crossed over Gann. Thus said, I am bearish, but it is quite possible to see the 38.2 retracement to weekly 5sma - 143,2. It likes it...

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#215,163
Feb 10, 2010 3:21pm Feb 10, 2010 3:21pm

quecee5
Joined Oct 2007 | Status: Trader | 5,510 Posts

Quoting pipsbull

Disliked

Here is also a weekly chart of pound/jpy:
Very bearish: Gann flipped up; QQE below 50 and crossed the dotted line.
Check out previously what happened when 5sma crossed over Gann. Thus said, I am bearish, but it is quite possible to see the 38.2 retracement to weekly 5sma - 143,2. It likes it...

Ignored

U are right on target my friend...
weekly 5sma and daily gann always get a touch sometime during the week and since 2morrow is Thursday -

We should see a BS move and I suspect it will be thru cable/sterling buying/spike up. . . 143.20 to 143.60 should be a reasonable target esp if we close the day above daily 5sma. . .

Also keep an eye out on the daily chart which your QQE on that looks to be headed up shortly so shorting higher looks to be the play in my mind.

#215,164
Feb 10, 2010 3:24pm Feb 10, 2010 3:24pm

ewokuk
| Joined Oct 2008 | Status: Trader | 1,666 Posts

Quoting Shad

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Forget The Average !

We R Going To Have Some Important News 32 Min Later !

So , It's A Volatile Day !

Ignored

You were saying?

Quoting ewokuk

Disliked

average range for gj in last 30 days is 221 pips per day. we are on 136 so far today. say another 80 either up or down is possible to meet its average so we should expect either a test of 139.30 support, or a break of 141.5

Ignored

range - 197 pips. 30 pips SHORT of its average, hardly a volatile day.

price got to 139.41. 11 pips off my target, close enough for ya?

#215,165
Feb 10, 2010 3:26pm Feb 10, 2010 3:26pm

pipsbull
Joined Sep 2008 | Status: happy | 735 Posts

Quoting quecee5

Disliked

U are right on target my friend...
weekly 5sma and daily gann always get a touch sometime during the week and since 2morrow is Thursday - We should see a BS move and I suspect it will be thru cable/sterling buying/spike up. . . 143.20 to 143.60 should be a reasonable target. . .

Also keep an eye out on the daily chart which your QQE on that looks to be headed up shortly so shorting higher looks to be the play in my mind.

Ignored

Thanks, bro
It is great to hear somebody is sharing a view. I suspect it is behaving at the same manner it did last year before the drop: broke 140,up,139,up... and then all of a sudden, bang down. This 143,xx level is quite appealing...

#215,166
Feb 10, 2010 3:26pm Feb 10, 2010 3:26pm

ewokuk
| Joined Oct 2008 | Status: Trader | 1,666 Posts

Quoting quecee5

Disliked

U are right on target my friend...
weekly 5sma and daily gann always get a touch sometime during the week and since 2morrow is Thursday - We should see a BS move and I suspect it will be thru cable/sterling buying/spike up. . . 143.20 to 143.60 should be a reasonable target esp if we close the day above daily 5sma. . .

Also keep an eye out on the daily chart which your QQE on that looks to be headed up shortly so shorting higher looks to be the play in my mind.

Ignored

ya think its going up?? i have shorts i dont wanna be sitting while it goes flying up that high!

i wants it down below 140!

cable has had a nice down day, well below 5sma. if it takes out that low could drop to 5450 weekly S1, or the next major fib the 50% at 5272! hopefully it doesnt do something stupid and go flying up for no reason.

#215,167
Feb 10, 2010 4:03pm Feb 10, 2010 4:03pm

Gucc
| Additional Username | Joined Nov 2009 | 575 Posts

i dont have to explain it..my charts explain it all..

GBP/CHF .. bear flag , entry long at supp and bottom of UTL of bear flag @1.6460 , limit and reverse @ 1.7480 .. exit @ major SUPP @ 1.5387..

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#215,168
Feb 10, 2010 4:29pm Feb 10, 2010 4:29pm

Gucc
| Additional Username | Joined Nov 2009 | 575 Posts

Quoting direct-trade

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I'm all ears.

Ignored

here is a chart of the USD/GBP .. ive sen you went long on this pair, and my view is ,we will go down to the untested supp level @ 1.5364 first,before we shoot up..i have orders waiting at that level, for a break higher inside the bear flag ,, (possible break outside flag)

a clear view of supp at 1.5364 and its untested..we will test in the next couple of days..

gbp is extremely oversold ..

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#215,169
Feb 10, 2010 4:29pm Feb 10, 2010 4:29pm

mima
| Membership Revoked | Joined May 2008 | 3,395 Posts

Quoting Gucc

Disliked

more sideways !

here is my chart!

Ignored

Any candle or bar on that picture?

The Market pays you to be disciplined

#215,170
Feb 10, 2010 4:33pm Feb 10, 2010 4:33pm

mima
| Membership Revoked | Joined May 2008 | 3,395 Posts

Quoting Gucc

Disliked

here is a chart of the USD/GBP .. ive sen you went long on this pair, and my view is ,we will go down to the untested supp level @ 1.5364 first,before we shoot up..i have orders waiting at that level, for a break higher inside the bear flag ,, (possible break outside flag)

a clear view of supp at 1.5364 and its untested..we will test in the next couple of days..

gbp is extremely oversold ..

Ignored

You meant GBP/USD?

The Market pays you to be disciplined

#215,171
Feb 10, 2010 4:34pm Feb 10, 2010 4:34pm

Gucc
| Additional Username | Joined Nov 2009 | 575 Posts

Quoting mima

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You meant GBP/USD?

Ignored

#215,172
Feb 10, 2010 4:47pm Feb 10, 2010 4:47pm

quecee5
Joined Oct 2007 | Status: Trader | 5,510 Posts

Quoting ewokuk

Disliked

ya think its going up?? i have shorts i dont wanna be sitting while it goes flying up that high!

i wants it down below 140!

cable has had a nice down day, well below 5sma. if it takes out that low could drop to 5450 weekly S1, or the next major fib the 50% at 5272! hopefully it doesnt do something stupid and go flying up for no reason.

Ignored

Well the daily chart says we have room to move up but the weekly suggest whatever upmove comes will be capped.

and right now GJ looking straight at daily gann and weekly 5 sma. . . So unless we get some bad news during Asia I suspect the market will go hunting to determine where the supply is located since we've had a relatively calm NY session. . .

#215,173
Feb 10, 2010 4:49pm Feb 10, 2010 4:49pm

Gucc
| Additional Username | Joined Nov 2009 | 575 Posts

im not a favourite trader to go against the trend.. so i wont take any longs on gj ,if we heading to the 78.6 and untested ress at 148..ill rather sit out and wait for the test to set up all my shorts!..so far im real fav of 148 level to test before we get a real break outside the wedge to 125 somewhere..

gbp is extremely oversold!

if we break in the next couple of days below 139..it has to come back to confirm that level as ress so ill think of shorts then,after a clear break and a retrace back to 139..

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#215,174
Feb 10, 2010 4:55pm Feb 10, 2010 4:55pm

quecee5
Joined Oct 2007 | Status: Trader | 5,510 Posts

Quoting Gucc

Disliked

im not a favourite trader to go against the trend.. so i wont take any longs on gj ,if we heading to the 78.6 and untested ress at 148..ill rather sit out and wait for the test to set up all my shorts!..so far im real fav of 148 level to test before we get a real break outside the wedge to 125 somewhere..

gbp is extremely oversold!

if we break in the next couple of days below 139..it has to come back to confirm that level as ress so ill think of shorts then,after a clear break and a retrace back to 139..

Ignored

If it gets above 146 area next stop 149 with some pit stops in between (147.24/148.50) then 153 then 155. . .

Currently we are trading below weekly and monthly gann so I suspect we should see at least a test of the breakout at 143 area - don't think we are going to see 148 before seeing 130

#215,175
Feb 10, 2010 5:01pm Feb 10, 2010 5:01pm

Gucc
| Additional Username | Joined Nov 2009 | 575 Posts

Quoting quecee5

Disliked

If it gets above 146 area next stop 149 with some pit stops in between (147.24/148.50) then 153 then 155. . .

Currently we are trading below weekly and monthly gann so I suspect we should see at least a test of the breakout at 143 area - don't think we are going to see 148 before seeing 130

Ignored

yes.ive seen that 146 ress level,,above is scary.. actually im not a big fav at the moment with this pair .something just not lined up for me.. i can only see a break below 139 ,where i will grap a few pips.otherwise ill be a railbird and wish you all good luck !

Quecee..can you look at that gbp/chf chart of mine ,and your view pls

#215,176
Feb 10, 2010 5:14pm Feb 10, 2010 5:14pm

direct-trade
| Commercial User | Joined Mar 2009 | 2,480 Posts

Quoting Gucc

Disliked

here is a chart of the USD/GBP .. ive sen you went long on this pair, and my view is ,we will go down to the untested supp level @ 1.5364 first,before we shoot up..i have orders waiting at that level, for a break higher inside the bear flag ,, (possible break outside flag)

a clear view of supp at 1.5364 and its untested..we will test in the next couple of days..

gbp is extremely oversold ..

Ignored

I appreciate what you are saying about untested areas. But this can be seen both ways.

I hope you don't mind, but I have taken your chart and drawn on it what I would see.

I am no EW expert, as you can see, but one could argue your Bear flag is in fact a BULL flag within a ABC correction and due to break to the untested area above 193. However, your untested support area just under where price sits right now looks good, apart from the fact the previous 3 days show a morning star bullish formation.... Price tested the lows, in fact sits there now as I type, but bullish reversal holding so far.

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#215,177
Feb 10, 2010 5:23pm Feb 10, 2010 5:23pm

Gucc
| Additional Username | Joined Nov 2009 | 575 Posts

Quoting direct-trade

Disliked

I appreciate what you are saying about untested areas. But this can be seen both ways.

I hope you don't mind, but I have taken your chart and drawn on it what I would see.

I am no EW expert, as you can see, but one could argue your Bear flag is in fact a BULL flag within a ABC correction and due to break to the untested area above 193. However, your untested support area just under where price sits right now looks good, apart from the fact the previous 3 days show a morning star bullish formation.... Price tested the lows, in...

Ignored

lol at my my bear flag,,srry,, obv bull flag .. im always waiting for the extreme low to test,and missed a few of them..if we dont get a test at my supp level,,ill look for an entry at break of minor ress.. your EW looks like the way ive seen it,,a break outside bull flag..still alot of obstacles on the go and major ress to break before that happen,,but we agree a bullsih move is on the go .. and ive seen a DRAMATIC REVERSAL in EUR/USD..hoping again for the extreme low at 1.3457 before enter.. ill post my eur/usd chart from a few days ago ,but did not do the way ive seen it..oh well !

#215,178
Feb 10, 2010 5:25pm Feb 10, 2010 5:25pm

Gucc
| Additional Username | Joined Nov 2009 | 575 Posts

Quoting direct-trade

Disliked

I appreciate what you are saying about untested areas. But this can be seen both ways.

I hope you don't mind, but I have taken your chart and drawn on it what I would see.

I am no EW expert, as you can see, but one could argue your Bear flag is in fact a BULL flag within a ABC correction and due to break to the untested area above 193. However, your untested support area just under where price sits right now looks good, apart from the fact the previous 3 days show a morning star bullish formation.... Price tested the lows, in...

Ignored

direct trade..

im more on the bullsih side,,and see a dramatic reversal .. dont think we will go any lower anymore,,we are close to bottom for a long time.. if not for rest of the year.. my view is change on eur,after the volumes on futures.still looking for the reversal candle .. not there yet..

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