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

  • #220,221
  • Apr 5, 2010 7:53am Apr 5, 2010 7:53am
http://my.jetscreenshot.com/demo/201...qyry-113kb.jpg
  • #220,222
  • Apr 5, 2010 9:27am Apr 5, 2010 9:27am
gj15m
Attached Image
  • #220,223
  • Apr 5, 2010 10:03am Apr 5, 2010 10:03am
Now we can see Weekly Gann is flip already. She's going to visit 147 anytime.
  • #220,224
  • Apr 5, 2010 10:27am Apr 5, 2010 10:27am
Quoting special0nefx
Now we can see Weekly Gann is flip already. She's going to visit 147 anytime.
It's not always that easy. Gann can quite easily flip back again. Considering it's the Weekly Gann, we could flip back, fall 500 pips and still be bullish, with another flip before the middle of the month.

I think most people are bullish now. All over the TV about how strong the recovery is, how Dow is within spitting distance of 11000 again etc. A nice 7-800 pip drop might shake out a few of those bulls.

Am waiting for GU and GCh to close the weekend gap.
4hr minimum bearish divergence needs to play out IMO. (140.25 ish)
4hr breakout level of 139.30 needs to be tested again.
4hr bearish divergence across whole move up sits below 138.

One step at a time.....
  • #220,225
  • Apr 5, 2010 10:29am Apr 5, 2010 10:29am
Quoting ukdaytrader
It's not always that easy. Gann can quite easily flip back again. Considering it's the Weekly Gann, we could flip back, fall 500 pips and still be bullish, with another flip before the middle of the month.

I think most people are bullish now. All over the TV about how strong the recovery is, how Dow is within spitting distance of 11000 again etc. A nice 7-800 pip drop might shake out a few of those bulls.

Am waiting for GU and GCh to close the weekend gap.
4hr minimum bearish divergence needs to play out IMO. (140.25 ish)
4hr breakout level...
agree wit u
  • #220,226
  • Apr 5, 2010 10:30am Apr 5, 2010 10:30am
Quoting Raza
LAST ONE...

I am being just way too convincing for UP Bias... This 200.0 level also Coincides with Weekly Chart Downtrend Line.......

Dont Follow me...I am seeing OB levels on Higher TFs..ATM...so range is possible...

Hoping for Bullish Hidden Divergence...Later..

I may be very Wrong...

My stop is at B.E + few PIPS...

So Trade your Charts....
Yep if u read my post we are on the same page. . . I see a drop back to 137/138 area with a dip low to 136.135.55 then up to 151. . . from there we will consolidate between 151 and 139 until Q3 then up from there. . .

So far as expected consolidation playing out and 145 holding in NY session. . . Now once we see Asia sell this rally we will be on our way. . . Shouldn't last that long 4 days of bearishness but by Wed of this week you'd better be on the buy wagon or get left because this bear move will happen very quickly. . .
  • #220,227
  • Edited 11:38am Apr 5, 2010 10:35am | Edited 11:38am
Quoting ukdaytrader
It's not always that easy. Gann can quite easily flip back again. Considering it's the Weekly Gann, we could flip back, fall 500 pips and still be bullish, with another flip before the middle of the month.

I think most people are bullish now. All over the TV about how strong the recovery is, how Dow is within spitting distance of 11000 again etc. A nice 7-800 pip drop might shake out a few of those bulls.

Am waiting for GU and GCh to close the weekend gap.
4hr minimum bearish divergence needs to play out IMO. (140.25 ish)
4hr breakout level...
well don't look now but daily stoch is starting to rollover. . . and I see minimal target being daily gann with a dip below that to take out weak longs. . . But still it will remain above 134.50 so a good target to shoot for is 136.50/137 area
  • #220,228
  • Apr 5, 2010 10:39am Apr 5, 2010 10:39am
Quoting ukdaytrader
It's not always that easy. Gann can quite easily flip back again. Considering it's the Weekly Gann, we could flip back, fall 500 pips and still be bullish, with another flip before the middle of the month.

I think most people are bullish now. All over the TV about how strong the recovery is, how Dow is within spitting distance of 11000 again etc. A nice 7-800 pip drop might shake out a few of those bulls.

Am waiting for GU and GCh to close the weekend gap.
4hr minimum bearish divergence needs to play out IMO. (140.25 ish)
4hr breakout level...
Yes, the gann is flip . But since the stoch is overbought now, I expect a retrace down 1st where i expect a ride around 139.80 there 1st before a move up.
I see Q post out the history, yeah looks the history is gonna happened again. But what i eagerly await is to see how she test the [email protected] there. Where there will be 2 scenario:-

1. Break ,close above. Possible the uptrend to 155 there . Where my downtrend finish low@132

2. Near, close below. Possible resume major downtrend to 128. Which i aim for this happen.
  • #220,229
  • Apr 5, 2010 10:43am Apr 5, 2010 10:43am
Quoting quecee5
well don't look now but daily stoch is starting to rollover. . . and I see minimal target being daily gann with a dip below that to take out week longs. . . But still it will remain above 134.50 so a good target to shoot for is 136.50/137 area
Yep, I also like to overlay a 9 WMA on my stoc, (white line). A typical confirmation for entry for me is when the fast stoc line crosses this WMA.

Let's see if I get my cross in the next few sessions.....

Attached Image (click to enlarge)
Click to Enlarge Name: stoc.gif Size: 24 KB
  • #220,230
  • Apr 5, 2010 10:54am Apr 5, 2010 10:54am
Another possibility is that we are consolidating as we go. We have now had positive jobs for the first time in US since 2008 and an unexpected 8 percent positive home sales and we are only up 59 pips from the high before that news.

I am waiting for the h1 50 ema to be significantly broken before I get off the bull.
  • #220,231
  • Apr 5, 2010 4:47pm Apr 5, 2010 4:47pm
http://www.onlinetradingconcepts.com...angingMan.html

Daily gbp/jpy - making a hanging man...
Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
  • #220,232
  • Apr 5, 2010 4:53pm Apr 5, 2010 4:53pm
Both GU and UJ look bulish to me.....
Don't be a hero. Don't have an ego. Always question yourself
  • #220,233
  • Apr 5, 2010 4:57pm Apr 5, 2010 4:57pm
My View... 1.58xx
Attached Image (click to enlarge)
Click to Enlarge Name: GU DAILY APRIL6 2010.jpg Size: 124 KB
Markets are not Random, they are designed!
  • #220,234
  • Edited 7:09pm Apr 5, 2010 6:35pm | Edited 7:09pm
Waiting to short. The signal may come soon.

We failed to make a new high on the 1H and dropped under the green TL we've been riding since the 30th. Testing it now from underneath.

Looking for a couple of things. A failure to break above the TL, and 1H close below 143.6.

These will be a good sign the bull run is exhausted for the moment.

Once below 143.6, looking at 142.4, 140.3.

If we gain more momentum, 139.7, and 139 test.

step by step...
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  • #220,235
  • Edited 7:27pm Apr 5, 2010 7:26pm | Edited 7:27pm
gj15m
Attached Image
  • #220,236
  • Apr 5, 2010 7:35pm Apr 5, 2010 7:35pm
Quoting quecee5

All I can say is look for the BS news to start rolling out this week starting with market overbought market taking profit. . . This Greece BS news in the lime light again, then questionable/debate was the NFP news really good or more of the same meaning overblown. . .

Once you start hearing that after the initial open of today you will know where we will be sitting by mid week. . .

UK will be on holiday today and 2morrow I believe so trading might be pretty thin until London. . .
http://www.forexlive.com/97916/all/g...ng-imf-sources

Greece Wants To Amend EMU Aid Deal, Bypassing IMF: Sources

ATHENS (MNI) – Greece’s government, concerned that intolerably

stringent conditions would be imposed by the International Monetary Fund
in exchange for aid, wants to amend the deal struck by Eurozone leaders
at the EU summit late last month in order to bypass an IMF financial
contribution, senior government sources in Athens told Market News
International.

“The reason is that since the summit, [Greek] Prime Minister
[George Papandreou] has been receiving information from the IMF about
the possible measures and reforms it would be asking in exchange for
financial support,” said one senior official. “The measures are tough
and might cause social and political unrest. After that, various cabinet
members voiced their opposition to the IMF contribution.”. . . . .
  • #220,237
  • Apr 5, 2010 8:26pm Apr 5, 2010 8:26pm
It's reassuring seeing that gravity still exists, it's been doubtful the past few days. On our way to 140's
Without a trade plan, say bye bye to your account & hello to frustration.
  • #220,238
  • Apr 5, 2010 8:26pm Apr 5, 2010 8:26pm
Below the DPP and WPP sits at 141.75. Looks like a reasonable initial target.

Let's see if the bears can accelerate Sterling weaknes.

(weekend gap on GU and GCh still not closed. May provide clues of mini support once we get there).
  • #220,239
  • Apr 5, 2010 8:56pm Apr 5, 2010 8:56pm
lower TL holding for now. break below 143.3 we keep dropping.
we may test 143.6 as resistance before continuing down, if we get back above, then that's it for the bears for the moment.
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  • #220,240
  • Apr 5, 2010 9:02pm Apr 5, 2010 9:02pm
Looks to me like that was the anchor to hold down the push up through the next leg. May be one more push down but I am not thinking an new low will be made with that giant h1 candle just made.

That was a dramatic and quick pullback, fun to watch although I had to do some covering of positions, was expected sooner or later though so glad to have it over with if it is over.
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