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

  • #218,641
  • Mar 18, 2010 10:56am Mar 18, 2010 10:56am
Quoting quecee5
In order to see GJ lower (which I believe will happen) we either have to see yen buying or USD weakness correct? In addition to GBP weakness or else we are just in the middle of a power struggle. . .
Absolutely! I shorted where I did because UJ's uptrend's hit significant resistance around 90.7, and looks to be forming a nice rejection pin bar on H1. With no news or expected motivators for USD today/tomorrow I'm hoping things to drift down for the rest of the day/week. We'll see.
  • #218,642
  • Mar 18, 2010 10:57am Mar 18, 2010 10:57am
Quoting quecee5
In order to see GJ lower (which I believe will happen) we either have to see yen buying or USD weakness correct? In addition to GBP weakness or else we are just in the middle of a power struggle. . .
GJ goes down on USD strength, like it did in 2008. USD strength gives JPY strength..... At least the past few years it has
  • #218,643
  • Mar 18, 2010 10:58am Mar 18, 2010 10:58am
Jpy is looking good but why is the train not moving?
Attached Image (click to enlarge)
Click to Enlarge Name: yen.png Size: 9 KB
  • #218,644
  • Mar 18, 2010 11:02am Mar 18, 2010 11:02am
Quoting Beljevina
Absolutely! I shorted where I did because UJ's uptrend's hit significant resistance around 90.7, and looks to be forming a nice rejection pin bar on H1. With no news or expected motivators for USD today/tomorrow I'm hoping things to drift down for the rest of the day/week. We'll see.
I'm short UJ with you my friend. . . down we go. . . Not sure about the rest of the day looking to take some off before London packs it in for the day which is now. because you know what typically happen afte that NY BS!
  • #218,645
  • Mar 18, 2010 11:04am Mar 18, 2010 11:04am
Quoting JhonMonsalve
Let's see how this 1h candle close. So far is bearish pattern right on s/r zone.

Attachment
Now is when, bearish signal confirmed: Bearish Shooting Star + Bozu.

Attached Image (click to enlarge)
Click to Enlarge Name: gj1h.gif Size: 18 KB


First stop around 137.5 - 137
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #218,646
  • Mar 18, 2010 11:06am Mar 18, 2010 11:06am
maybe we'll drop to 136 and 137 will be new resistance
  • #218,647
  • Mar 18, 2010 11:10am Mar 18, 2010 11:10am
same view here, including 141. 137.60 is key to downside atm.

Quoting quecee5
Agreed, 4hr is now suggesting short and I see a potential 136/135.50 possibly before it all said and done. . . 139.30/40 is cluster resistance and won't be taken so easily however I do see an upside wave afetr the correction lower thru 139 and possibly 141.50 initially ATM!
Nihil Sine Deo.
  • #218,648
  • Mar 18, 2010 11:13am Mar 18, 2010 11:13am
Quoting Clouds
GJ goes down on USD strength, like it did in 2008. USD strength gives JPY strength..... At least the past few years it has
Agreed, but GBP/YEN is a cross between GBP/USD = USD/YEN. . .

Couple option why GJ would go dn. . .

1st = cable weakness and no interest in USD selling or buying. . .

2nd = USD buying and not interest in cable buying or selling

3rd = No interest in cable or USD but yen strength. . .

All other combinations will result in mixed or ranging price action in GJ unless extreme selling or buying in USD, CABLE OR YEN that over shadows the other i.e. . .
  • #218,649
  • Mar 18, 2010 11:15am Mar 18, 2010 11:15am
Quoting Clouds
maybe we'll drop to 136 and 137 will be new resistance
Two things to consider. . .

1) the wpp = weekly pivot = 136.53
2) the mpp = monthly pivot = 138.50

Close above or below 2morrow/sunday for weekly
Close above or below month end for monthly. . .
  • #218,650
  • Mar 18, 2010 11:16am Mar 18, 2010 11:16am
Read elsewhere: "We are hearing talk of a Fed discount rate hike today...Purportedly at 1230EDT"

If this happens, USD will shoot up, and take GY with it. Protect your gains with BE @ least.

Mind you, the Fed didn't make any reference to it earlier this week, nor do any of the mechanics of faxing prep work or other expected notifications, so the likelihood is low.
  • #218,651
  • Mar 18, 2010 11:18am Mar 18, 2010 11:18am
Quoting quecee5
Agreed, but GBP/YEN is a cross between GBP/USD = USD/YEN. . .

Couple option why GJ would go dn. . .

1st = cable weakness and no interest in USD selling or buying. . .

2nd = USD buying and not interest in cable buying or selling

3rd = No interest in cable or USD but yen strength. . .

All other combinations will result in mixed or ranging price action in GJ unless extreme selling or buying in USD, CABLE OR YEN that over shadows the other i.e. . .
Yes...
GU and GJ may go same direction (long-term), but at different of the day. JPY and USD are so similar it seems (both economies may be in deflation), but u can also look at UJ for hints on next down move for GJ
  • #218,652
  • Mar 18, 2010 11:24am Mar 18, 2010 11:24am
Lots of things to consider. . .
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr gj chart.gif Size: 15 KB
  • #218,653
  • Mar 18, 2010 11:29am Mar 18, 2010 11:29am
Quoting quecee5
Two things to consider. . .

1) the wpp = weekly pivot = 136.53
2) the mpp = monthly pivot = 138.50

Close above or below 2morrow/sunday for weekly
Close above or below month end for monthly. . .
thanks , ill keep it in mind. just trying to do some planning. id like add to my shorts, but i want a new lower resistance level
  • #218,654
  • Mar 18, 2010 11:30am Mar 18, 2010 11:30am
Looks to me from this chart we have 3 soldi support established so far. . .

132.80
134.00
135.22

and working on carving out support at 137 area with a possible test of the weekly pivot at 136.50. . . could dip below to take out stop or weak longs. . .
  • #218,655
  • Mar 18, 2010 11:32am Mar 18, 2010 11:32am
Quoting quecee5
Lots of things to consider. . .
im fairly confident that TL will break to the down side, EU has set the stage for me, to the downside, broke it's flag
  • #218,656
  • Mar 18, 2010 11:32am Mar 18, 2010 11:32am
Quoting quecee5
Lots of things to consider. . .
Well based on this chart we are making higher lows and higher highs. . . so the shorting opportunity was 139.40 and 138.50 we dipped to 137 and below this a.m. so a test of that area may be forthcoming or slightly above it. . .

If the pattern is the same for NY end of the week they will buy this crap 2morrow and it will more than like close above 138.50. . . a close below weekly pivot will probably see the bottom of that channel. . .
  • #218,657
  • Mar 18, 2010 11:36am Mar 18, 2010 11:36am
Quoting Clouds
im fairly confident that TL will break to the down side, EU has set the stage for me, to the downside, broke it's flag
Okay - I hope you are correct. . . will add to my shorts on a daily close below it and test of the TL. . .
  • #218,658
  • Mar 18, 2010 11:39am Mar 18, 2010 11:39am
Q in da house
  • #218,659
  • Mar 18, 2010 11:41am Mar 18, 2010 11:41am
Quoting quecee5
Okay - I hope you are correct. . . will add to my shorts on a daily close below it and test of the TL. . .
would that be a re-test of 136 for u? assuming it drops 100 pips or so below that
  • #218,660
  • Mar 18, 2010 11:44am Mar 18, 2010 11:44am
Quoting vinesh2
Q in da house
Zup Vvvvvvvvvvvvvvvvvvvv!
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