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

  • #216,301
  • Feb 23, 2010 2:41pm Feb 23, 2010 2:41pm
anyone who is short,can stay short and think of to bank some money ,when USD/JPY reach 87 level...

i might consider to grap a few pips for long on all the crosses with the usd/jpy at 87/ 86.86...

87/86.86 its an UNTESTED SUPP LEVEL on daily !!! it will bounce from there ! and the authorities of japan like that level ..85/87 . they will react!
  • #216,302
  • Feb 23, 2010 2:44pm Feb 23, 2010 2:44pm
the biggest issue i have with gj (or ej or aj) is that there are so many things effecting it that as far as I can work out, no support or resistance on gj means much at all.

UJ drags them around wherever it decides to go, but UJ has no knowledge of gj support or resistance. When it isnt UJ dragging it about, its GU, which again has no knowledge of gj's support or resistance. on top of uj and gu dragging it about, it also likes to follow stocks a lot of the time, again stocks have no respect for support or resistance in gj.

with so many things dragging gj about all over the place, i have trouble working out how any support or resistance in the pair can mean anything significant.

as far as i can tell, thats what makes GU much easier to trade because it in theory should be far more likely to respect its own support and resistance levels due to far less things influencing it, it isnt being dragged about by uj or anything else. granted eurgbp and eurusd may have some effect, but not much when it comes to gu support and resistance.

or am i talking shit?
  • #216,303
  • Feb 23, 2010 2:56pm Feb 23, 2010 2:56pm
Quoting ewokuk
the biggest issue i have with gj (or ej or aj) is that there are so many things effecting it that as far as I can work out, no support or resistance on gj means much at all.

UJ drags them around wherever it decides to go, but UJ has no knowledge of gj support or resistance. When it isnt UJ dragging it about, its GU, which again has no knowledge of gj's support or resistance. on top of uj and gu dragging it about, it also likes to follow stocks a lot of the time, again stocks have no respect for support or resistance in gj.

with so many things...
they work always !!! you can add longs on these levels,,,they will bounce
135.52
130.73
125.36
123.88 (the strongest one)
the more they get tested weaker they will get.. all that levels has been tested before,but 123.88 its been untested... it will bounce atleast 1000 pips from that level ..
  • #216,304
  • Feb 23, 2010 3:04pm Feb 23, 2010 3:04pm
another short i just add to my lobby

gbp/chf short @ 1.6800 we can go all the way down to my level,where i wanna reverse to long at 1.6450/60 (looks good for short ) !!

if we dont test it,,i just cancel it later

short 5 pips below that level
  • #216,305
  • Feb 23, 2010 3:16pm Feb 23, 2010 3:16pm
Quoting ewokuk
the biggest issue i have with gj (or ej or aj) is that there are so many things effecting it that as far as I can work out, no support or resistance on gj means much at all.

UJ drags them around wherever it decides to go, but UJ has no knowledge of gj support or resistance....
Had same questions and feel have found partial answers.
Whatever pair you take, everything effects everything.
So I take USD as a reference (the weak argument maybe).
Patern of GJ intrests me the less.
When chart of UJ and GU and both looks bullish and EURUSD does not look very bearish I long GJ
When chart of UJ and GU both look bearish and EURUSD does not look very bullish I short GJ
Check this relation, it gives my more clues.
Don't be a hero. Don't have an ego. Always question yourself
  • #216,306
  • Feb 23, 2010 3:17pm Feb 23, 2010 3:17pm
Why don't you get your own journal posting your other trades? You are cluttering up this board with other pairs... This is the GU and GJ board..




Quoting zweig
another short i just add to my lobby

gbp/chf short @ 1.6800 we can go all the way down to my level,where i wanna reverse to long at 1.6450/60 (looks good for short ) !!

if we dont test it,,i just cancel it later

short 5 pips below that level
[
  • #216,307
  • Feb 23, 2010 3:29pm Feb 23, 2010 3:29pm
Quoting rgitt05
Why don't you get your own journal posting your other trades? You are cluttering up this board with other pairs... This is the GU and GJ board..

u so mean...
MY OPINION NOT FINANCIAL ADVISE
  • #216,308
  • Feb 23, 2010 3:39pm Feb 23, 2010 3:39pm
Quoting rgitt05
Why don't you get your own journal posting your other trades? You are cluttering up this board with other pairs... This is the GU and GJ board..


sell GJ or add more @ 139.85 ress.. also conf. area add more break above that level @140.79 for 135.60
  • #216,309
  • Feb 23, 2010 3:50pm Feb 23, 2010 3:50pm


Quoting zweig
sell GJ or add more @ 139.85 ress.. also conf. area add more break above that level @140.79 for 135.60
[
  • #216,310
  • Feb 23, 2010 4:13pm Feb 23, 2010 4:13pm
ok gj sell target adjusted to 139.80 (new daily pivot). gonna stick my sell order there, pray and go to bed
  • #216,311
  • Feb 23, 2010 4:18pm Feb 23, 2010 4:18pm
Quoting ewokuk
ok gj sell target adjusted to 139.80 (new daily pivot). gonna stick my sell order there, pray and go to bed

your stop ? above 140.31 ?
  • #216,312
  • Feb 23, 2010 4:22pm Feb 23, 2010 4:22pm
Quoting ewokuk
ok gj sell target adjusted to 139.80 (new daily pivot). gonna stick my sell order there, pray and go to bed

add another sell @ 140.79 for incase you dont woke up tommorow.
  • #216,313
  • Feb 23, 2010 4:24pm Feb 23, 2010 4:24pm
Quoting zweig
your stop ? above 140.31 ?
weekly S1 at 140.27 so yeh ill consider closing it above that.

assuming its good, first target 138.70 (todays low), second target 138.20 (trend low from 5th feb). below that it starts to fall off a cliff, weekly S3 at 137.34 then the big 61.8 fib at 135.72.

Chance of me holding the trade open past the second target are slim to none unless it drops straight down with very little retrace, cos once im up 100+ pips my stop will be up its butt cos i aint giving them back! lol
  • #216,314
  • Feb 23, 2010 4:25pm Feb 23, 2010 4:25pm
Quoting zweig
add another sell @ 140.79 for incase you dont woke up tommorow.
um only reason i wont wake up tomorrow is if im dead so it wont matter anyway
  • #216,315
  • Feb 23, 2010 4:27pm Feb 23, 2010 4:27pm
Quoting ewokuk
um only reason i wont wake up tomorrow is if im dead so it wont matter anyway
family pension !! . yeah just kidding.. stop looks good, good night !
  • #216,316
  • Feb 23, 2010 4:44pm Feb 23, 2010 4:44pm
Quoting zweig
your stop ? above 140.31 ?
I have my sell order also there but I prefer not to use stops.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #216,317
  • Feb 23, 2010 4:49pm Feb 23, 2010 4:49pm
rgitt come and share your view on GU .... where's your bottom ? or reversal ?
  • #216,318
  • Feb 23, 2010 5:08pm Feb 23, 2010 5:08pm
If I would have no fear I would Long @ 139.30 but I do..........
Don't be a hero. Don't have an ego. Always question yourself
  • #216,319
  • Feb 23, 2010 5:13pm Feb 23, 2010 5:13pm
Based on my daily chart, I have a 76.8% retracement at the 1.48-1.49 zone before a possible reversal..

Overall the GU is bearish.

When Ben talks tomorrow about rate increase, Kaboom for the GU,GJ,EJ,etc...

Also, I included the weekly GU chart..
if the 1.48 level breaks than 1.42 zone is another possible reversal zone

Wait and see..

Keep it simple..



Quoting zweig
rgitt come and share your view on GU .... where's your bottom ? or reversal ?
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  • #216,320
  • Feb 23, 2010 5:25pm Feb 23, 2010 5:25pm
here is a MAJOR SUPPORT GBP/USD for a possibly bottom we might form and reverse..!! worth it to look close at these 2 levels ! ..

i went long at 1.5350 but closed it ,dont know if it was a mistake,but will soon re enter above a certain ress if it was..

but i can see a test of those 2 levels i point out ..(1.4967 & 1.4827)

IT WILL TEST 1.58 AGAIN !.. 1.58 IS THE KEY RESS.. so we might bounce from 1.4967& 1.4827 back up to test 1.58 ,then we will see if we break above or down again.. for now we will focus on a test of 1.58 ... the rest is not in sight right now ..
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