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

  • #219,361
  • Mar 25, 2010 6:08am Mar 25, 2010 6:08am
GU and UJ working for GJ atm
did'nt expect assistance from UJ though....
Don't be a hero. Don't have an ego. Always question yourself
  • #219,362
  • Mar 25, 2010 6:24am Mar 25, 2010 6:24am
Looks toppish but who knows with this devil
  • #219,363
  • Mar 25, 2010 6:38am Mar 25, 2010 6:38am
you guys who try to short that type of invalid H&S ,will run into trouble .
keep longs !! 141/142 is next .

cad/jpy just broke out of wedge on weekly
eur/jpy inverted H&S on daily
GU bottom ,heading to 1.57

any reasons why we will go to 133 ? 131 ?
i cant see 1
enjoy the bull run,heading with fullstorm into next week..

THAT H&S is not valid what you guys mention. Quecee and the rest..
  • #219,364
  • Mar 25, 2010 7:08am Mar 25, 2010 7:08am
I see sellers coming in on 1h chart, went short at the close of the hour eyeing target of 135.50/70
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.png Size: 58 KB
  • #219,365
  • Mar 25, 2010 7:10am Mar 25, 2010 7:10am
Attached reason for short. [email protected]

Quoting Xpittrader
you guys who try to short that type of invalid H&S ,will run into trouble .
keep longs !! 141/142 is next .

cad/jpy just broke out of wedge on weekly
eur/jpy inverted H&S on daily
GU bottom ,heading to 1.57

any reasons why we will go to 133 ? 131 ?
i cant see 1
enjoy the bull run,heading with fullstorm into next week..

THAT H&S is not valid what you guys mention. Quecee and the rest..
Attached Image (click to enlarge)
Click to Enlarge Name: 25.3.2010.JPG Size: 33 KB
  • #219,366
  • Mar 25, 2010 7:12am Mar 25, 2010 7:12am
Quoting lexazver
I see sellers coming in on 1h chart, went short at the close of the hour eyeing target of 135.50/70
yip ,all the forexfactory sellers ,sell now !

the banks keep longs, and push for a daily close above 138 2day,or weekly above by tomorrow!
  • #219,367
  • Mar 25, 2010 7:17am Mar 25, 2010 7:17am
Quoting Xpittrader
you guys who try to short that type of invalid H&S ,will run into trouble .
keep longs !! 141/142 is next .

cad/jpy just broke out of wedge on weekly
eur/jpy inverted H&S on daily
GU bottom ,heading to 1.57

any reasons why we will go to 133 ? 131 ?
i cant see 1
enjoy the bull run,heading with fullstorm into next week..

THAT H&S is not valid what you guys mention. Quecee and the rest..
So that divergence on the daily really doesn't matter?
Not only looking at a possible pattern (no necessarily that shampoo) but a very obvious pattern GJ has been following. . .

And the fact that we made 5 waves down that I can count on the 1hr and 4hr chart so this again looks corrective. . .

Here is my possible wave count that's I've been watching off the 139.29 high lets see if it plays. . .

This could be a daily count. . .

wave 1 = 139.29 - 134.50 = 400
wave 2 = 134.50 - 138.21 = 400
wave 3 = 138.21 - 131.59 = 700
wave 4 = 131.59 - 134.55 = 300
wave 5 = 134.55 - 126.80 = 700

By the way I posted this chart early a.m. - so for looks good. . .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj daily chart.gif Size: 27 KB
Click to Enlarge Name: gj daily2 chart.gif Size: 25 KB
  • #219,368
  • Mar 25, 2010 7:48am Mar 25, 2010 7:48am
Hi Quice brother give idea about UJ what you see max high and do u see a dip or bull run ?
  • #219,369
  • Mar 25, 2010 7:51am Mar 25, 2010 7:51am
Quoting quecee5
So that divergence on the daily really doesn't matter?
Not only looking at a possible pattern (no necessarily that shampoo) but a very obvious pattern GJ has been following. . .

And the fact that we made 5 waves down that I can count on the 1hr and 4hr chart so this again looks corrective. . .

Here is my possible wave count that's I've been watching off the 139.29 high lets see if it plays. . .

This could be a daily count. . .

wave 1 = 139.29 - 134.50 = 400
wave 2 = 134.50 - 138.21 = 400
[b]wave 3 = 138.21 - 131.59 =...
yes i can see the diverg.,but we need to make another high above prev res. so that the diverrg can lign up with all the TF,and that will take a quick thrust up towrds 140-141 region . lets see if 138.50 can hold it.you might be right .but im sure we have a couple of days left for the diverg. to play out . IF WE GET A DAILY CLOSE ABOVE 138,THEN 140/141 IS IN THE CARDS

GU looks for a close above 1.5 on daily and weekly and that will lead the way to 1.52 first.

close of today and tomorrow will tell us what to do next!
  • #219,370
  • Mar 25, 2010 7:54am Mar 25, 2010 7:54am
It's looking like GJ Is going to resume correlation with GU now. It could be quick and I'm still short.
Every time you use 'hopium' in a post, God kills a kitten.
  • #219,371
  • Mar 25, 2010 8:15am Mar 25, 2010 8:15am
Quoting Xpittrader
you guys who try to short that type of invalid H&S ,will run into trouble .
keep longs !! 141/142 is next .

cad/jpy just broke out of wedge on weekly
eur/jpy inverted H&S on daily
GU bottom ,heading to 1.57

any reasons why we will go to 133 ? 131 ?
i cant see 1
enjoy the bull run,heading with fullstorm into next week..

THAT H&S is not valid what you guys mention. Quecee and the rest..
I can see 138.4 or a shoot higher, but there is a huge amount of wood to chop if 139.2 is broken, and then even more uphill chopping for a very distant 141+.

Any H4/D1 chart to post?
  • #219,372
  • Mar 25, 2010 8:24am Mar 25, 2010 8:24am
Quoting Beljevina
I can see 138.4 or a shoot higher, but there is a huge amount of wood to chop if 139.2 is broken, and then even more uphill chopping for a very distant 141+.

Any H4/D1 chart to post?
will later. im on mobile windows now.
gl
  • #219,373
  • Mar 25, 2010 8:24am Mar 25, 2010 8:24am
G/J is not a very honest pair, never tells you what it has in store lol.
  • #219,374
  • Mar 25, 2010 8:25am Mar 25, 2010 8:25am
One of the factors that I am keeping my eyes on is the cross-over on the usd being replace once again as a carry-trade currency. I see it happening soon but the question I have is, will it be this qtr. or the next where the effects will help propel GBP/JPY into a bullish mode. I was hoping next qtr. with the added effect of the election happening in May with a positive spin..... If we are at 127 or lower then a nice medium-term bull run would look probable. But I am getting ahead of myself here.. Now the spike up is correlated with USD/JPY so yen weakness looks more warranted then cable weakness.... Opinions?
Traderdesk -
  • #219,375
  • Mar 25, 2010 8:31am Mar 25, 2010 8:31am
a strong c, anyway i am looking down , say i am wrong if exceed 138.38
Attached Image (click to enlarge)
Click to Enlarge Name: gj1h.gif Size: 26 KB
  • #219,376
  • Mar 25, 2010 8:53am Mar 25, 2010 8:53am
Quoting Dat7447
a strong c, anyway i am looking down , say i am wrong if exceed 138.38
Base on your chart, your count is correct ...but i hunting higher than 138.38
  • #219,377
  • Mar 25, 2010 9:13am Mar 25, 2010 9:13am
Quoting Xpittrader
yes i can see the diverg.,but we need to make another high above prev res. so that the diverrg can lign up with all the TF,and that will take a quick thrust up towrds 140-141 region . lets see if 138.50 can hold it.you might be right .but im sure we have a couple of days left for the diverg. to play out . IF WE GET A DAILY CLOSE ABOVE 138,THEN 140/141 IS IN THE CARDS

GU looks for a close above 1.5 on daily and weekly and that will lead the way to 1.52 first.

close of today and tomorrow will tell us what to do next!
As long Daily close above 137.51 is good for 142,surely if can close above 138 more good...
  • #219,378
  • Mar 25, 2010 9:46am Mar 25, 2010 9:46am


..good luck guys..catch all of you next week...
  • #219,379
  • Edited 10:22am Mar 25, 2010 9:48am | Edited 10:22am
Quoting Xpittrader
yes i can see the diverg.,but we need to make another high above prev res. so that the diverrg can lign up with all the TF,and that will take a quick thrust up towrds 140-141 region . lets see if 138.50 can hold it.you might be right .but im sure we have a couple of days left for the diverg. to play out . IF WE GET A DAILY CLOSE ABOVE 138,THEN 140/141 IS IN THE CARDS

GU looks for a close above 1.5 on daily and weekly and that will lead the way to 1.52 first.

close of today and tomorrow will tell us what to do next!
Okay fair enough. . .

But according to what I'm looking at 1hr, 4hr and now daily divergence are all aligned and we have hit just shy of my target 138.21 at 138.10 and so far have been rejected from that resistance. . .

All I see now is consolidation under this resistance and then down from here esp. if GU continues it's march south bound which loks to have been rejected from 1.4950 resistance an will be headed it it's ultimate target of 1.43/1.40 soon enough. . .

Only thing holding GJ up ATM looks to be the weakend yen at this point but I expect that to change over the next week or so and most who follow Asia's economic developments will know why. . .

Anyway as you have stated I guess we will find out shortly how this all plays out. . .
  • #219,380
  • Mar 25, 2010 9:54am Mar 25, 2010 9:54am
Well, I feel pretty stupid for closing my longs (90% of them at least). I was expecting a deeper retracement and had orders waiting, but we never got there... bummer.

I can't really say what I expect right now as I haven't been home to look over charts since last afternoon. But I can't see any reason why we can't keep going up. Yes, the long-term bias remains down until 141.00 is taken and then we can start questioning that. We're still in rally mode and there's no reason why we can't crack 139.00 It seems EVERYONE is calling for this to drop just like EVERYONE was calling for USD/JPY to break its range to the downside. When everyone is saying something I start feeling a little uneasy. In summary, I would not be at all surprised to see this smash through 141 and reverse trend.

Fundamentally I see an environment that could leave us with a weak dollar against everything except Yen... obviously that would greatly benefit GBP/JPY bulls.

Other than that, I've got some EUR/USD longs from the low 1.33 area and looking for a correction to 1.3500 or so... would appreciate thoughts on that as it's not my forte.

Geppy.
check out my blog: forexmademillionaire dot com
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