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

  • #216,041
  • Feb 19, 2010 12:50pm Feb 19, 2010 12:50pm
Quoting quecee5
Based on what I'm staring at we may in fact test 139.70/50 before heading up to 147 by the end of the month (beginning of March). . .

Daily gann
by Thich Nhat Hanh "Smile, breathe and go slowly."
  • #216,042
  • Feb 19, 2010 12:55pm Feb 19, 2010 12:55pm
Quoting Farmboy
Daily gann
ard that area with a dip below. . . We were just rejected by 4hr gann and now a test of support below should be the target. . . esp. if we close below DPP yet again. . .
  • #216,043
  • Feb 19, 2010 12:58pm Feb 19, 2010 12:58pm
Quoting quecee5
ard that area with a dip below. . . We were just rejected by 4hr gann and now a test of support below should be the target. . . esp. if we close below DPP yet again. . .
yep thats what im seeing glad to be on the same page with someone in your class
by Thich Nhat Hanh "Smile, breathe and go slowly."
  • #216,044
  • Feb 19, 2010 1:35pm Feb 19, 2010 1:35pm
AY has proved to be somewhat of an inigma for me this week.
We seem to be forming bearish divergence on top on bearish divergence, yet still she gets bought. When it looked like a proper retracement was in place, she sharply reverses quickly returning to previous higher levels. And that's been the story of the whole week.

Don't mind admitting, it has be confused when compared to other Yen pairs.

Chart
Attached Image (click to enlarge)
Click to Enlarge Name: ay 4hr.gif Size: 22 KB
  • #216,045
  • Feb 19, 2010 2:18pm Feb 19, 2010 2:18pm
Quoting ukdaytrader
AY has proved to be somewhat of an inigma for me this week.
We seem to be forming bearish divergence on top on bearish divergence, yet still she gets bought. When it looked like a proper retracement was in place, she sharply reverses quickly returning to previous higher levels. And that's been the story of the whole week.

Don't mind admitting, it has be confused when compared to other Yen pairs.

Chart
Attachment
I don't know a thing about nor follow AY, but that is one powerful trend & ride from Feb 8. I keep reading about how well Australia is doing, but am instead happy to try to get the waves by focusing on GY instead and a bit of EURUSD & USDJPY, although the big thing that worries me is how long the yen/Japan is going to keep getting a free ride, when their economy is in abysmal shape, and how that will reflect against so many other (often crappy) pairs in the cross family. Overall, I find the relationships between the cross movements are difficult to make sense of, so I stick to a few I fool myself into believing I can understand!
  • #216,046
  • Feb 19, 2010 3:42pm Feb 19, 2010 3:42pm
Hi Q,

Can you please enlighten this newbie on this: "how do you expect the GJ go up when GU is really bearish...I have not seen GJ going up 700 pips when GU is not supporting it...

Thank you.


Quoting quecee5
Based on what I'm staring at we may in fact test 139.70/50 before heading up to 147 by the end of the month (beginning of March). . .
  • #216,047
  • Feb 19, 2010 4:11pm Feb 19, 2010 4:11pm
g-u movements are dependent of usd and gbp. since g-j is a cross, its movements are dependent of jpy, gbp AND usd.

think about this: you see a strong move on both usd (usd is bought) and jpy (jpy is sold) = u-j would go up. now IF gbp sentiment is neutral, then you will see g-u going down (because usd is bought) and g-j going up (because jpy is sold).

Quoting Fusion
Hi Q,

Can you please enlighten this newbie on this: "how do you expect the GJ go up when GU is really bearish...I have not seen GJ going up 700 pips when GU is not supporting it...

Thank you.
Nihil Sine Deo.
  • #216,048
  • Feb 19, 2010 5:02pm Feb 19, 2010 5:02pm
Quoting ukdaytrader
AY has proved to be somewhat of an inigma for me this week.
We seem to be forming bearish divergence on top on bearish divergence, yet still she gets bought. When it looked like a proper retracement was in place, she sharply reverses quickly returning to previous higher levels. And that's been the story of the whole week.

Don't mind admitting, it has be confused when compared to other Yen pairs.

Chart
Attachment
Nice catch!, and it has just hit 61.8 fib should go down to make double to head up again!
  • #216,049
  • Feb 19, 2010 11:06pm Feb 19, 2010 11:06pm
Quoting ukdaytrader
AY has proved to be somewhat of an inigma for me this week.
We seem to be forming bearish divergence on top on bearish divergence, yet still she gets bought. When it looked like a proper retracement was in place, she sharply reverses quickly returning to previous higher levels. And that's been the story of the whole week.

Don't mind admitting, it has be confused when compared to other Yen pairs.

Chart
Attachment
Chart...

Ofcourse I can be wrong.

I do know where to draw the line If I am Wrong..

This is a Leading DIAGONAL... Could ALSO turn into ASCENDING TRIANGLE

Not sure what will happen to other yen Pairs..

ALSO CHECK OUT MONTHLY CHART...how low can it go against YEN..0000.000
Attached Image (click to enlarge)
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Markets are not Random, they are designed!
  • #216,050
  • Feb 19, 2010 11:48pm Feb 19, 2010 11:48pm
Quoting Beljevina
I don't know a thing about nor follow AY, but that is one powerful trend & ride from Feb 8. I keep reading about how well Australia is doing, but am instead happy to try to get the waves by focusing on GY instead and a bit of EURUSD & USDJPY, although the big thing that worries me is how long the yen/Japan is going to keep getting a free ride, when their economy is in abysmal shape, and how that will reflect against so many other (often crappy) pairs in the cross family. Overall, I find the relationships between the cross movements are difficult...
Scrat, THANKS, explained very well
  • #216,051
  • Feb 20, 2010 2:28am Feb 20, 2010 2:28am
Come and join me to post some gold view overthere

http://www.forexfactory.com/showthread.php?t=221760

g
  • #216,052
  • Feb 20, 2010 5:54am Feb 20, 2010 5:54am
Quoting ukdaytrader
AY has proved to be somewhat of an inigma for me this week.
We seem to be forming bearish divergence on top on bearish divergence, yet still she gets bought. When it looked like a proper retracement was in place, she sharply reverses quickly returning to previous higher levels. And that's been the story of the whole week.

Don't mind admitting, it has be confused when compared to other Yen pairs.

Chart
Attachment
ukdaytr.

here is my view of the aud/jpy..
if we head to 88.5/91 , i will sell at "UNTESTED" major ress. where i think we going to.. if not i can see clearly a major supp at 76.30.. so a sell break below supp..easy save sure setup..
i doubt 86 was the top, i think we will go to 90/91 somewhere
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  • #216,053
  • Feb 20, 2010 6:08am Feb 20, 2010 6:08am
the same view in cad/jpy ..favourite for a upside break,to major ress levels..

typical acsending wedge (continueation wedge) all the dips at 78.6 FIB ..target 98/99 somewhere .
Attached Image (click to enlarge)
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  • #216,054
  • Feb 20, 2010 6:19am Feb 20, 2010 6:19am
another jpy cross with the same view as cad/jpy & aud/jpy

the NZD/JPY..

at the moment in wedge formation .. is it a continueation pattern or not ? we will see .. im fav a upside break to test MAJOR ress first,before we heading down ..still lots of pips inside the pattern to make at the 78.6 fiblines..
Attached Image (click to enlarge)
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  • #216,055
  • Feb 20, 2010 6:41am Feb 20, 2010 6:41am
i can only see the gbp/jpy and eur/jpy will drop to gbp/jpy 135.50/60 and eur/jpy 119.50 ..but thats about it ..

i might place 2 penidng orders to buy on gbp/py and eur/jpy at levels of gbp/jpy 135.60 and eur/jpy 119.60 ..


PS... im fav more a buy on eur/jpy than gbp/jpy at 119.50/60 . so we need to go to 119.60 ,where is the ress for now ??? ITS AT 125.80 ,, im selling at 125.80 , reverse at 119.50/60 for long..

pending sell order on gbp/jpy at 144.28 ( for a sudden drop to 135.60,before we heading back up )

trade your charts!
  • #216,056
  • Feb 20, 2010 7:04am Feb 20, 2010 7:04am
Wow, looking over the weekly chart and discover we are in for one nice ride lower before we head any higher. . .

Next week will be a bear week and we are going to see some shape moves lower before heading higher. . .
  • #216,057
  • Feb 20, 2010 7:39am Feb 20, 2010 7:39am
Quoting quecee5
Wow, looking over the weekly chart and discover we are in for one nice ride lower before we head any higher. . .

Next week will be a bear week and we are going to see some shape moves lower before heading higher. . .

70% Bank around the world targeting GJ will up by Q4 this year -

Source : Bloomberg
  • #216,058
  • Feb 20, 2010 7:59am Feb 20, 2010 7:59am
Quoting PandoraBox
70% Bank around the world targeting GJ will up by Q4 this year -

Source : Bloomberg

up,,they mean from current level .. we are in a range for 2010 between 155 and 124 .. might be slightly higher ..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy range 2010.jpg Size: 121 KB
  • #216,059
  • Edited 10:36am Feb 20, 2010 9:52am | Edited 10:36am
Quoting PandoraBox
70% Bank around the world targeting GJ will up by Q4 this year -

Source : Bloomberg
PB I definitely agree with that - I think we will take a short turn downtown toward a min 135.70/60 - 130 area then turn from there to reach 180 or greater. . .

Target for up move starting Q4 2010 = 155-165 by end of Q4 then down to 152-153 then an up move toward 180 or greater - over a 2year period by end of Q4 2011. . .

But looking at weekly and monthly the down move is forthcoming 1st. . .
  • #216,060
  • Feb 20, 2010 11:22am Feb 20, 2010 11:22am
I'd be very interested to see what you're seeing on the Weekly and Monthly charts.. Test of 5sma on Weekly failed?

I'm not trusting this week's upmoves, but the rapid buying off support levels makes me nervous of shorts. Saying that, the volumes were a tad lower this week....
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