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

  • #220,241
  • Apr 5, 2010 7:24pm Apr 5, 2010 7:24pm
would it be too much to ask for a drop to 120 from here? anyway, im going be short for while, and will just lock in pips along the way
  • #220,242
  • Apr 5, 2010 7:36pm Apr 5, 2010 7:36pm
Fundamentally, Japan is trying to fight wicked deflation, but I am not sure they can fix it over night. Looking at UJ, I could see a drop to 89-90, and a bearish GU won't help GJ either.

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  • #220,243
  • Edited 8:05pm Apr 5, 2010 7:42pm | Edited 8:05pm
Well hopefully london will pick a direction and stick with it and we can get some guidance for this week. So far its a scatter gun, but that was one impressive push down just there so I am ready to cut my longs before many more pips go by.

According to actionforex technical below 142.74 means the uptrend is over. I have set my sl there and going to take a nap and see what happens at london.
  • #220,244
  • Apr 5, 2010 8:18pm Apr 5, 2010 8:18pm
Quoting grashid
143.30-142.30-140.30-138.50/60 then am stop bear n looking for long set-up....

come baby break 143.80 and hold below it
next plz...
  • #220,245
  • Edited 9:08pm Apr 5, 2010 8:37pm | Edited 9:08pm
Quoting grashid
next plz...


143.6 held like a charm. Once this TL goes at 143.3 we should gain momentum.

Quoting Fudomyo
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.
edit: There we go. Broke under right on the hour like clockwork.
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  • #220,246
  • Apr 5, 2010 9:57pm Apr 5, 2010 9:57pm


http://www.forexfactory.com/showthre...11#post3606111

4hr 55 ema a good target at 140.85 area 1st stop. . .
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  • #220,247
  • Apr 5, 2010 10:03pm Apr 5, 2010 10:03pm
4hr chart. . .

But I'm looking for actually lower. . .

The retrace is long over due and I wouldn't be surprised if we retrace the entire wave c leg but that's just me. . .
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  • #220,248
  • Apr 5, 2010 10:22pm Apr 5, 2010 10:22pm
Hi quecee5, thank you for sharing your analysis. Spot on as always. If you could, I would love to hear your thoughts on the usd/jpy.
  • #220,249
  • Apr 6, 2010 12:28am Apr 6, 2010 12:28am
Price is back to test the previous declining UTL. Bounced off it so far, but we will be back in downtrend channel if we break through it.
  • #220,250
  • Apr 6, 2010 12:31am Apr 6, 2010 12:31am
Quoting ukdaytrader
Price is back to test the previous declining UTL. Bounced off it so far, but we will be back in downtrend channel if we break through it.
Now waiting it break previous UTL then way we go to 139~140.
  • #220,251
  • Apr 6, 2010 12:31am Apr 6, 2010 12:31am

GU gap now closed.

Just waiting for GCh now......

  • #220,252
  • Apr 6, 2010 12:49am Apr 6, 2010 12:49am
Booked partial profit at 23.6% 142.47.

Next downside target 141. (38.2% / 140.94) Will have a bit of work chopping through the 142 area to get there.

Not expecting to bounce yet, but just in case we do, keeping an eye on 143 on the upside, if we break back above that level, will exit my short and book rest of profits there.
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  • #220,253
  • Apr 6, 2010 12:52am Apr 6, 2010 12:52am
Quoting Fudomyo
Booked partial profit at 23.6% 142.47.

Next downside target 141. (38.2% / 140.94)

Not expecting to bounce here, but just in case we do, keeping an eye on 143 on the upside, if we break back above that level, will exit my short and book rest of profits there.
HOW COME YOUR 23.6% AT 142.47...If it is from 144.86 - 131.97

Mine at 141.83..???

Anyways I see 142.28 and 141.35.. buying FIBS...( scalp only)

143.40 resistence
Markets are not Random, they are designed!
  • #220,254
  • Apr 6, 2010 1:04am Apr 6, 2010 1:04am
Quoting quecee5
4hr chart. . .

But I'm looking for actually lower. . .

The retrace is long over due and I wouldn't be surprised if we retrace the entire wave c leg but that's just me. . .
http://ps10.parsaspace.com/files/296.../4hr_chart.gif
may i know your macd setup plz ???
  • #220,255
  • Apr 6, 2010 1:19am Apr 6, 2010 1:19am
1st point done 23.6% fib 142.44.
next point 38% 140.93
  • #220,256
  • Apr 6, 2010 1:21am Apr 6, 2010 1:21am
~1034 pips up move without retracement - big move
i think we will touch 50% fib on 139.70
  • #220,257
  • Apr 6, 2010 1:28am Apr 6, 2010 1:28am
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  • #220,258
  • Apr 6, 2010 1:39am Apr 6, 2010 1:39am
Quoting Raza
HOW COME YOUR 23.6% AT 142.47...If it is from 144.86 - 131.97

Mine at 141.83..???

Anyways I see 142.28 and 141.35.. buying FIBS...( scalp only)

143.40 resistence
Did not realize this before..was just looking at CABLEs thread they have 182+ members on line...and here 42 only...

This thread is Dying..........
Markets are not Random, they are designed!
  • #220,259
  • Apr 6, 2010 1:40am Apr 6, 2010 1:40am
Quoting Raza
HOW COME YOUR 23.6% AT 142.47...If it is from 144.86 - 131.97

Mine at 141.83..???

Anyways I see 142.28 and 141.35.. buying FIBS...( scalp only)

143.40 resistence
hi Raza,


I'm looking at the same levels as you based on the larger move from 132.3 to 144.88 on an alternate chart.

The chart I'm posting is based on a retrace from the prior low of 134.56 to 144.88.

My experience is on a minor retrace versus a reversal, price often respects these fib levels primarily.

This allows me to secure profits until the larger move is confirmed. If the pullback has no teeth price sometimes won't touch the fib levels from the larger move.

Here's the current 15M with the 23.6% of the minor move. You can see it's the current battle line.
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  • #220,260
  • Apr 6, 2010 1:43am Apr 6, 2010 1:43am
Quoting Fudomyo
hi Raza,


I'm looking at the same levels as you based on the larger move from 132.3 to 144.88 on an alternate chart.

The chart I'm posting is based on a retrace from the prior low of 134.56 to 144.88.

My experience is on a minor retrace versus a reversal, price often respects these fib levels primarily.

This allows me to secure profits until the larger move is confirmed. If the pullback has no teeth price sometimes won't touch the fib levels from the larger move. (I like taking profit)

Here's the current 15M with the 23.6% of...
Thanks for explaining...

Very good way to book profits...
Markets are not Random, they are designed!
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