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

  • #215,861
  • Feb 17, 2010 10:12am Feb 17, 2010 10:12am
Quote
Have you noticed that consistently every time Obamaspeak is underway, GJ tanks? (keep Bloomberg on in the background to be in the know) OK, so the EURUSD has tanked bigtime too, and GJ's following. Oh, and, goodbye Greece, hello Italy! Failed to break 143.6, and we're 100 pips down from there! Gone long 142.6 (again) on a BE SL, for some scalps.

EDIT: Out of the scalp attempt; she's going down, captain!

That was a good one- Hello Italy and then to 1.34 !

After that hello Spain and then to 1.32 !
  • #215,862
  • Feb 17, 2010 11:09am Feb 17, 2010 11:09am
Quoting kbrown
  • #215,863
  • Edited 11:56am Feb 17, 2010 11:26am | Edited 11:56am
Quoting kbrown
Buy dips on GJ bro for 147.15 later this month. . . dips should be from 140.50-141.50 for a 600-700 pip move up. . . to test 147 again and higher.

Take a look at your daily chart and the bullish divergence there. We are just hitting the tip of the iceberg where price is headed. . .

I now expect a test of the daily 5 sma with a dip to ar'd 141-140.90 then we will shoot up from there to eventually test the weekly gann for starters as long as we keep getting daily closes above daily gann and I do say daily close because we can dip below but as long as we close above the upmove is still valid. . .

  • #215,864
  • Feb 17, 2010 11:33am Feb 17, 2010 11:33am
Quoting quecee5
Buy dips on GJ bro for 147.15 later this month. . . dips should be from 140.50-141.50 for a 600-700 pip move up. . . to test 147 again and higher.

Take a look at your daily chart and the bullish divergence there. We are just hitting the tip of the iceberg where price is headed. . .

I now expect a test of the daily 5 sma with a dip to ar'd 141-140.90 the we will shoot up from there to eventually test the weekly gann for starters as long as we keep getting daily closes above daily gann and I do say daily close because we can dip below but as long...
Is that the daily close @ 5:00 PM EST?
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  • #215,865
  • Feb 17, 2010 11:55am Feb 17, 2010 11:55am
Quoting KillerWhale
Is that the daily close @ 5:00 PM EST?
yes daily = 24 hrs from the daily close. . so we could see dips overnight below these level but what matters is how it closes at the end of the day.
  • #215,866
  • Edited 1:35pm Feb 17, 2010 12:44pm | Edited 1:35pm
thanks for the analysis .
same scenario here, buying dips as long as support (upper 140 area as of now) is holding.
with just one comment: 145 area might hold as resistance so we could possibly see a reversal. major downtrend is down so it might not get as high as 148... but then again, anything is possible.
we'll see.

Quoting quecee5
Buy dips on GJ bro for 147.15 later this month. . . dips should be from 140.50-141.50 for a 600-700 pip move up. . . to test 147 again and higher.

Take a look at your daily chart and the bullish divergence there. We are just hitting the tip of the iceberg where price is headed. . .

I now expect a test of the daily 5 sma with a dip to ar'd 141-140.90 then we will shoot up from there to eventually test the weekly gann for starters as long as we keep getting daily closes above daily gann and I do say daily close because we can dip below but as...
Nihil Sine Deo.
  • #215,867
  • Feb 17, 2010 1:13pm Feb 17, 2010 1:13pm
Quoting Scrat
thanks for the analysis .
same scenario here, buying dips as long as support (upper 140 area as of now) is holding.
with just one comment: 145 area appears might hold as resistance so we could possibly see a reversal. major downtrend is down so it might not get as high as 148... but then again, anything is possible.
we'll see.
Scrat,

I agree 140 is the line in the sand and if taken then back to test support however this time I don't think it will hold I think we will go straight to 137/136/135 area. . .

However, If you look at the daily chart it says otherwise which we both agree. . . The bullish divergence there can not be ignored and eventually it will play out and 145.50 won't hold and we will see a test of 146.16 then minor resistance at 147 area then staright to 148.75/149. . .

Only a break of 140.50 will see back to 139.30 then 137/135. . . we will find out soon where we are headed. . .
  • #215,868
  • Feb 17, 2010 1:39pm Feb 17, 2010 1:39pm
Quoting quecee5
Scrat,

I agree 140 is the line in the sand and if taken then back to test support however this time I don't think it will hold I think we will go straight to 137/136/135 area. . .

However, If you look at the daily chart it says otherwise which we both agree. . . The bullish divergence there can not be ignored and eventually it will play out and 145.50 won't hold and we will see a test of 146.16 then minor resistance at 147 area then staright to 148.75/149. . .

Only a break of 140.50 will see back to 139.30 then 137/135. . . we will find out...
Does the 4hr not have to play out or be invalidated first? AY has massive bearish divergence.
  • #215,869
  • Feb 17, 2010 1:50pm Feb 17, 2010 1:50pm
Quoting ukdaytrader
Does the 4hr not have to play out or be invalidated first? AY has massive bearish divergence.
Yes the 4hr chart will play out 1st and if you look at it we are are headed lower for a re-test of support . . .

The perfect scenario is to have the 1hr, 4hr and daily divergence all heading in the same direction which looks to be where we are headed once we can relieve some of the selling pressure. . .

Saddle up as I think it will be a nice ride from there. . .
  • #215,870
  • Feb 17, 2010 1:53pm Feb 17, 2010 1:53pm
Quoting quecee5
Yes the 4hr chart will play out 1st and if you look at it we are are headed lower for a re-test of support . . .

The perfect scenario is to have the 1hr, 4hr and daily divergence all heading in the same direction which looks to be where we are headed once we can relieve some of the selling pressure. . .

Saddle up as I think it will be a nice ride from there. . .
Nice.
  • #215,871
  • Feb 17, 2010 3:46pm Feb 17, 2010 3:46pm
Anyone know why the sell-off???? I can't see any news right now. . . Any late news????
  • #215,872
  • Feb 17, 2010 3:48pm Feb 17, 2010 3:48pm
Gold was dumping. Why it was? I don't know yet.
Quoting quecee5
Anyone know why the sell-off???? I can't see any news right now. . .
  • #215,873
  • Feb 17, 2010 3:54pm Feb 17, 2010 3:54pm
Quoting Leche Mocha
Gold was dumping. Why it was, I dont know yet?

Yeah I saw that almost dn $21 off the high. . . EU and GU dn as well. . . I think some bad news is forthcoming after the market closes and we will probably see more of a slide shortly. . .
  • #215,874
  • Feb 17, 2010 4:00pm Feb 17, 2010 4:00pm
2010.02.17 22:32:19 IMF To Start Selling Gold Worth Up To $6.9 Bln To Market
  • #215,875
  • Feb 17, 2010 4:47pm Feb 17, 2010 4:47pm
Quoting quecee5
Yeah I saw that almost dn $21 off the high. . . EU and GU dn as well. . . I think some bad news is forthcoming after the market closes and we will probably see more of a slide shortly. . .
WASHINGTON (Dow Jones)--The International Monetary Fund said Wednesday it will soon begin selling to the market the remaining 191.3 metric tons of gold it has slated for release, though the sales will be conducted in phases to avoid disrupting markets.

The sale of gold, currently worth nearly $6.9 billion, will begin "shortly," the fund said in a brief statement.

"In accordance with the priority of avoiding disruption of the gold market, the on-market sales will be conducted in a phased manner over time," the IMF said.

The IMF noted that central banks in Europe have said they can accommodate the fund's gold as part of their scheduled sales in the Central Bank Gold Agreement.

The IMF board approved sales of 403.3 metric tons of gold in September to create a more stable income model and boost support for low-income countries. About 212 metric tons have already been sold off-market to central banks of India, Mauritius and Sri Lanka.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #215,876
  • Feb 17, 2010 5:22pm Feb 17, 2010 5:22pm
News of IMF selling remaining gold on open market surprising to market, indicates IMF has been unable to find willing buyer for remaining gold, says HSBC analyst James Steel; implies that central bank demand for gold is not as robust as market expectations. "The idea that central banks may turn into net buyers of gold this year is an important element in the psychology of the rally," says Steel. Impact of IMF statement may keep pressure on prices for now, but HSBC expects non-official sector to absorb the remaining IMF gold. Fund to start gradual open-market sale of remaining 191.3 tons (out of a total of 403.3 tons) of gold stresses sales would be phased in over a long time to avoid disruptions to the market. IMF's stated preference is to sell gold to other central banks or supranational organizations. Spot gold at $1,105.80/oz, down $10.80 vs NY close
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #215,877
  • Feb 17, 2010 9:37pm Feb 17, 2010 9:37pm
Spinning top on daily GBP/JPY candle. It is a sign that bulls have run out of steam and bears are now in charge.

I have shorted at 142.40 levels...targetting 200-300 pips in 2-4 days- Position Trading.
  • #215,878
  • Feb 17, 2010 10:09pm Feb 17, 2010 10:09pm
Quoting kingfisher
Spinning top on daily GBP/JPY candle. It is a sign that bulls have run out of steam and bears are now in charge.

I have shorted at 142.40 levels...targetting 200-300 pips in 2-4 days- Position Trading.
what is your target?
  • #215,879
  • Feb 17, 2010 10:30pm Feb 17, 2010 10:30pm
Quoting kingfisher
Spinning top on daily GBP/JPY candle. It is a sign that bulls have run out of steam and bears are now in charge.

I have shorted at 142.40 levels...targetting 200-300 pips in 2-4 days- Position Trading.
I am short from 1.4350 but I really don't think it will go another 200-300 pips down at the moment.
I have my target @ 1.4150 for tonight when I go to sleep. I don't think I can get much more out of it. We have a strong bullish trend within a larger bearish trend.

Shamu
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  • #215,880
  • Feb 17, 2010 10:52pm Feb 17, 2010 10:52pm
Quoting KillerWhale
I am short from 1.4350 but I really don't think it will go another 200-300 pips down at the moment.
I have my target @ 1.4150 for tonight when I go to sleep. I don't think I can get much more out of it. We have a strong bullish trend within a larger bearish trend.

Shamu
Shamu, it confuses when you write price like that...first thing comes to mind, is... "what pair is he referring to". I guess you mean 141.50
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