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

  • #217,121
  • Mar 2, 2010 5:01am Mar 2, 2010 5:01am
EJ & CJ were closed by travelling stop, so, this 2 counters delivered only 200+.
Doesnt matter, will look for opportunity to short again.
Face both Win and Lose bravely
  • #217,122
  • Mar 2, 2010 5:01am Mar 2, 2010 5:01am
i saw traders on TV saying that cable might collapse down to 1.2
  • #217,123
  • Mar 2, 2010 5:03am Mar 2, 2010 5:03am
Quoting special0nefx
I believe it will making retrace to [email protected] there only we visit more down to 125 target there...Like this the chart will be more pretty and nice.
yup i saw that area too 136.30-138.60 or even 139....

still away for GY atm...n GU long X3 still holding it for my TP@ 1.5050-1.5225..

I could be wrong..let c what happen
  • #217,124
  • Mar 2, 2010 5:06am Mar 2, 2010 5:06am
Quoting notoSCUM
i saw traders on TV saying that cable might collapse down to 1.2

never believe what you hear on TV...

unless its Animal Planet
Attached Image
  • #217,125
  • Mar 2, 2010 5:08am Mar 2, 2010 5:08am
Quoting JhonMonsalve
Looks great, why are you bullish on EG & GChf? I mean, this pairs are inverses, when EG rise, GChf falls and vice versa.

yip i was bullish on gbp/chf... but we break through all the supp and now im looking for a bull move in EG,if the H&S will hold it .. but the big question is are we in gona break to new highs or double top ? on monthly .
i was totally wrong with gbp/chf. but again we cant ignor yet the bull move in gbp/chf ..but for now we can play the H&S setup on EG,and target monthly high for possible double top,,, and see if we break and continue with the bull trend..
  • #217,126
  • Mar 2, 2010 5:09am Mar 2, 2010 5:09am
Quoting grashid
yup i saw that area too 136.30-138.60 or even 139....

still away for GY atm...n GU long X3 still holding it for my TP@ 1.5050-1.5225..

I could be wrong..let c what happen

What do you think about newbies taking the counter trend trade in this market?

I saw that long entry but it was way too risky for me so i sat out and waited to short again above 1.4940. seem more less risky since more TF confirm strong downtrend?
  • #217,127
  • Mar 2, 2010 5:11am Mar 2, 2010 5:11am
Quoting grashid
yup i saw that area too 136.50-138.60 or even 139....

still away for GY atm...n cable long X3 still holding it for my TP@ 1.5050-1.5225..

I could be wrong..let c what happen
If i follow my EW count, I don't think it can break 138.22 there because for me this is wave 4 which can't cross wave 1 threshold. That's why my maximum retrace is 136.53 only...
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  • #217,128
  • Mar 2, 2010 5:13am Mar 2, 2010 5:13am
Quoting special0nefx
If i follow my EW count, I don't think it can break 138.22 there because for me this is wave 4 which can't cross wave 1 threshold. That's why my maximum retrace is 136.53 only...

what happens when PA blows right through daily resistance?
  • #217,129
  • Edited 5:19pm Mar 2, 2010 5:15am | Edited 5:19pm
Quoting kingrex
What do you think about newbies taking the counter trend trade in this market?

I saw that long entry but it was way too risky for me so i sat out and waited to short again above 1.4940. seem more less risky since more TF confirm strong downtrend?
Trade what you feel comfortable with. everyone has different approach, so no one else can say what's right for you.

Anyway...

NFP Friday + Greece meeting w/ Germany. If they cut a deal on the bailout, bears will be all over the Sterling.

In the meantime a retest of prior support as resistance and a 61.8% retrace is logical. Personally I'm looking 138 area as a target prior to 139.

We need to consolidate a bit more before we start moving, either from here or after we test the low again to catch a few more shorts.

I don't listen to Barclays. 14936 is major support level + coincides w/ TL support on the weekly. A dip and bounce to catch the shorts makes sense. looking for 14620 monthly TL test and potentially lower after NFP.
  • #217,130
  • Mar 2, 2010 5:16am Mar 2, 2010 5:16am
Quoting kingrex
What do you think about newbies taking the counter trend trade in this market?

I saw that long entry but it was way too risky for me so i sat out and waited to short again above 1.4940. seem more less risky since more TF confirm strong downtrend?
that should be the way...
dun follow me..

am a suicide trader as some of you notice that...
and just raise my view...

come and let c what happen
  • #217,131
  • Mar 2, 2010 5:17am Mar 2, 2010 5:17am
Quoting zweig
yip i was bullish on gbp/chf... but we break through all the supp and now im looking for a bull move in EG,if the H&S will hold it .. but the big question is are we in gona break to new highs or double top ? on monthly .
i was totally wrong with gbp/chf. but again we cant ignor yet the bull move in gbp/chf ..but for now we can play the H&S setup on EG,and target monthly high for possible double top,,, and see if we break and continue with the bull trend..
Or short GChf @1.66 - 67, TP @1.58
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #217,132
  • Mar 2, 2010 5:22am Mar 2, 2010 5:22am
Quoting Fudomyo
Trade what you feel comfortable with. everyone has different approach, so no one else can say what's right for you.

Anyway...

NFP Friday + Greece meeting w/ Germany. If they cut a deal on the bailout, bears will be all over the Sterling like Oprah on a baked ham.

In the meantime a retest of prior support as resistance and a 61.8% retrace is logical. Personally I'm looking 138 area as a target prior to 139.

We need to consolidate a bit more before we start moving, either from here or after we test the low again to catch a few more shorts....

1103 GMT [Dow Jones] A weaker pound is the inevitable consequence of a weaker UK economy, says today's Taking Stock column, and British exporters could use a break. However, FX markets probably feel a sterling crisis is overdue so don't expect sober judgment on the subject. (DAC)
  • #217,133
  • Mar 2, 2010 5:30am Mar 2, 2010 5:30am
Strength Index for the £/¥
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I trade what I see on my charts. Do Not listen to the Muppets.
  • #217,134
  • Mar 2, 2010 5:31am Mar 2, 2010 5:31am
It looks like it is bull time ..if you notice the fakey set up in the smaller H4 inside bar. But IMO I think the up side will be limited to 135
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  • #217,135
  • Mar 2, 2010 5:39am Mar 2, 2010 5:39am
Quoting Myrza
It looks like it is bull time ..if you notice the fakey set up in the smaller H4 inside bar. But IMO I think the up side will be limited to 135

Why is the dollar selling off?

that was a massively emotional north candlestick yesterday...

8129.35 rejected twice yesterday...now at 8080.

yesterday's low 8011.50
  • #217,136
  • Mar 2, 2010 6:04am Mar 2, 2010 6:04am
Scalpers Respect the GBPUSD 50% retracement....usually 30M chart
  • #217,137
  • Mar 2, 2010 6:15am Mar 2, 2010 6:15am
Quoting rgitt05
This is not a long term view...It just a retracement that will happen before another leg down to the 128 zone..

IMHO



GU hit 61.8% and retracement most of the time bounced back up first before any continuation..Therefore all cross GBP pairs will go up..
Hi rgitt05,


now i can see that you changed your bias over night from 128.00 to 139.00.
I always knew that someday I would make it big
  • #217,138
  • Mar 2, 2010 7:03am Mar 2, 2010 7:03am
Quoting forexer
Hi rgitt05,


now i can see that you changed your bias over night from 128.00 to 139.00.
We won't go to 128 in a straight line.

After we accumulate, then we distribute, rinse, repeat.

GY likes 50%, GU likes 61.8%, but nothing's written in stone. In this kind of market, we could easily build liquidity in a consolidation without a large retrace, so caution trading countertrend is prudent.
  • #217,139
  • Mar 2, 2010 7:15am Mar 2, 2010 7:15am
Quoting Fudomyo
We won't go to 128 in a straight line.

After we accumulate, then we distribute, rinse, repeat.

GY likes 50%, GU likes 61.8%, but nothing's written in stone. In this kind of market, we could easily build liquidity in a consolidation without a large retrace, so caution trading countertrend is prudent.
Bro where is ur GU 61.8% price ?
  • #217,140
  • Mar 2, 2010 7:27am Mar 2, 2010 7:27am
Or,
G.U.,
as you prefer...
Here's a 61.8 Retracement, possibly going for more
or -Less, who knows.

But we have a lower low, and she's retracing,
at least today back up some, from London's 04:00am ish lows...
of 1.48861/2 "Ish"
I'll try the "Gif." thing here,
'See how this works:

Jeff !
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I will work to Objectively Identify my Edges
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