looks like gj wanna make major retrace as long as 131.60 hold, gj have a potential swing up to 139 area and if 139 buyer still have a control... posible break to 143 area. This is my chart. Good Luck
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #217,202
- Mar 2, 2010 7:53pm Mar 2, 2010 7:53pm
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Nihil Sine Deo.
- #217,204
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
- #217,207
- Mar 2, 2010 9:11pm Mar 2, 2010 9:11pm
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
- #217,209
- Mar 2, 2010 9:37pm Mar 2, 2010 9:37pm
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I thought it might be useful to take a look at the last time (~Nov/08) GJ entered this <142 to 130 zone (the blue area on the graphs) against what type of PA we've seen here since the break of 139.
Feel free to draw your own comparisons; I'm listing a few that jump out at me.
One conclusion? We are overdue for a bounce to test 139 based on not only the valid reasons mentioned by previous posters, but also because historically, 600+ pip trend swings were the norm in this zone. There's a reasonable chance we're going to go another 100-300 pips down from our current 133.5, but the upside from there should be at least 800 pips. Hopefully we can all profit from it.
Feel free to draw your own comparisons; I'm listing a few that jump out at me.
- in first downtrend low into the zone, once 133.2 was reached, a bounce to 140.7 resulted in within the next 2 days, then back down to 132.3
- once 131.3 was determinedly pierced, going to 129.8, then gave an even higher bounce up to 141.5: those 1200 pips occurred over 5 days
- 135.7 became a (rough) POC, to dictate GJ was to spend time above or below that level
- the drop to 118 occurred as 1600 pips over 3 days
- volatility was high in this zone: same directional trends of 5 days covering an avg. of 800 pips were the norm over the next 3 months
One conclusion? We are overdue for a bounce to test 139 based on not only the valid reasons mentioned by previous posters, but also because historically, 600+ pip trend swings were the norm in this zone. There's a reasonable chance we're going to go another 100-300 pips down from our current 133.5, but the upside from there should be at least 800 pips. Hopefully we can all profit from it.
- #217,210
- Mar 2, 2010 9:41pm Mar 2, 2010 9:41pm
- Joined Nov 2008 | Status: Mmmm.. | 1,322 Posts
I thought it might be useful to take a look at the last time (~Nov/08) GJ entered this <142 to 130 zone (the blue area on the graphs) against what type of PA we've seen here since the break of 139.
Feel free to draw your own comparisons; I'm listing a few that jump out at me.[indent]- in first downtrend low into the zone, once 133.2 was reached, a bounce to 140.7 resulted in within the next 2 days, then back down to 132.3
- once 131.3 was determinedly pierced, going to 129.8, then gave an even higher bounce up to 141.5: those 1200 pips occurred...
Sounds delicious..yummy
- #217,218
- Mar 2, 2010 11:11pm Mar 2, 2010 11:11pm
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Not understand?better not follow my analyses!doubt clearer first, risks ++
- #217,219
- Mar 2, 2010 11:56pm Mar 2, 2010 11:56pm
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Not understand?better not follow my analyses!doubt clearer first, risks ++
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