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

  • #220,461
  • Apr 8, 2010 2:52am Apr 8, 2010 2:52am
Just taken another long @ 141.47. Bit late, but targeting just above 142...

Let's see.
  • #220,462
  • Apr 8, 2010 2:55am Apr 8, 2010 2:55am
Quoting ukdaytrader
Just taken another long @ 141.47. Bit late, but targeting just above 142...

Let's see.
I looking for [email protected] there but set SL@BE+1
  • #220,463
  • Edited 3:48am Apr 8, 2010 2:59am | Edited 3:48am
Quoting ukdaytrader
Just taken another long @ 141.47. Bit late, but targeting just above 142...

Let's see.
I will try a long if it dips to 140.72...stop right below it... or (Sleep)
Its a little risky long you took at that price....

if you see a drawdown..you know better where to get out..

IMHO... If below 140.72..70... it can go down another 70 pips ..140.07..

But this Divergence should at least touch 140.87...that is 23% of the down move.. and ultimate target 146.69..wave 5 (A).
Markets are not Random, they are designed!
  • #220,464
  • Apr 8, 2010 3:03am Apr 8, 2010 3:03am
Quoting special0nefx
I looking for [email protected] there but set SL@BE+1
Lol get stopped at BE+1. H1 now have a clear signal bullish divergence also.
  • #220,465
  • Edited 3:49am Apr 8, 2010 3:12am | Edited 3:49am
Seems like there's a small [email protected] to break for us back to 142.xx

Already break 141.50. coming news may help to see 142 soon . Move SL@BE+10
SL@BE+10 hit LOL
  • #220,466
  • Apr 8, 2010 4:09am Apr 8, 2010 4:09am
??????
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  • #220,467
  • Apr 8, 2010 4:14am Apr 8, 2010 4:14am
Quoting JhonMonsalve
I'm agree, Geppy even is unable to close above 500 FL from last down move, so, shorts in play yet.

15m TF:

Attachment
Take a look to this: GChf Shorts in play again? R:R ratio is great.

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"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #220,468
  • Apr 8, 2010 4:18am Apr 8, 2010 4:18am
I think the fail to reach the upper boundary of the flag is a weakness in the trend, it might be more wise to wait for a confirmed close below the flag lower boundary.
  • #220,469
  • Apr 8, 2010 4:28am Apr 8, 2010 4:28am
Quoting JhonMonsalve
Take a look to this: GChf Shorts in play again? R:R ratio is great.

Attachment
Yep, agreed. UY and AY look set to fall through the floor while Sterling is currently holding up. Incidently, GCh still hasn't closed the weekend gap.

Something significant is building IMO and it looks like Sterling weakness.
  • #220,470
  • Apr 8, 2010 4:57am Apr 8, 2010 4:57am
Still play on divergence heading 142 there . If breakout new low only consider short...
  • #220,471
  • Edited 8:25am Apr 8, 2010 4:59am | Edited 8:25am
Quoting ukdaytrader
Yep, agreed. UY and AY look set to fall through the floor while Sterling is currently holding up. Incidently, GCh still hasn't closed the weekend gap.

Something significant is building IMO and it looks like Sterling weakness.
Hope everyone is enjoying shorts if you shorted on the spike on Sunday. . .
We're trading the daily chart now and as stated last week and earlier this week the daily divergence will play. . . min target 139.50 max target based on this daily chart is 136/137 with a spike dn to 135.55. . .

Looking at the daily chart cycle can't see 139.50 being the stopping point as we haven't even crossed the zero line just yet and as can be seen on my chart below momentum and divergence heading in the same direction which tells me to sell all rally on BS new in NY or otherwise. . .

Until we see the daily chart cycle turn positive or heading back up we will see a massive push down to complete the cycle which I don't see that happening until next week since we only have one more trading left this week. . .

Simple chart below. . . Happy pipn. . .

Post from last week/weekend below. . .

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

Well let me be the 1st to say yields are steady at just below 4% and the NFP was good but wasn't a blow away number. . .

In fact little has changed in terms of unemployment but the good news is it's steady but a steady 9.75% which in the overall scheme of things is still not good. . .

In order for us to see further price increase it's going to take more data to justify higher price. . . Good news it that it doesn't warrant much lower price and I mean below 132 but we will see it range between here and probably support at 139.40/50 to 140 area. . .

Also look at the chart below ar'd this time last year and look at the chart 2010 - does this look familar to anyone. . .

Same pattern almost to the pip. . . I was expecting to see a spike up to at least 144.60 area but doesn't look that way. . .

So what can one expect. . . Well if history is an indication of the future then we can expect consolidation next week ar'd the these highs with a possible spike up to start the week

Then I expect we will drift lower as the market absorbs the data and get a nice retrace. . . I'm looking at a target of somewhere between 139.40/50 with maybe a spike down to at least 138-136 perhaps where I expect it to try to take out weak longs but I see it being bought on the dips. . . from there I see a pathway toward 151 by end of Q2 with some consolidation back above 139.40/50 after the dip area before the next leg up. . .

Keep in mind price has traveled a long way and we have reached 1.618 extension and if price is to go up further in what will look to be wave 5 we need a wave 4 down to relieve the OB situation. .

Also, weekly is saying buy any dips on major support. . . Also, keep in mind that 300 pips down is less than 30% of the 1100 pips it has traveled off the low. . . so 500 pips down is still less that 50% of the total total price traveled which would put price at 138 if price moves lower from here and 139 if we spike to 144.60 which is highly possible. . .

Happy pipn. . .
Attached Image (click to enlarge)
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  • #220,472
  • Apr 8, 2010 5:06am Apr 8, 2010 5:06am
Quoting quecee5
Hope everyone is enjoy shorts if you shorted on the spike on Sunday. . .
We're trading the daily chart now and as stated last week and earlier this week the daily divergence will play. . . min target 139.50 max target based on this daily chart is 136/137 with a spike dn to 135.55. . .

Looking at the daily chart cycle can't see 139.50 being the stopping point as we haven't even crossed the zero line just yet and as can be seen on my chart below momentum and divergence heading in the [b]same direction which tells me to sell all rally on BS new in...
I hope to see 142 1st before have the momentum push down to 139.70 there.
  • #220,473
  • Apr 8, 2010 5:07am Apr 8, 2010 5:07am
Quoting quecee5
Hope everyone is enjoy shorts if you shorted on the spike on Sunday. . .
We're trading the daily chart now and as stated last week and earlier this week the daily divergence will play. . . min target 139.50 max target based on this daily chart is 136/137 with a spike dn to 135.55. . .

Looking at the daily chart cycle can't see 139.50 being the stopping point as we haven't even crossed the zero line just yet and as can be seen on my chart below momentum and divergence heading in the [b]same direction which tells me to sell all rally on BS new in...
I have followed ur gj analysis and have to say great call. Thank you for sharing with us. At what price do u expect or u think might spike up?
  • #220,474
  • Apr 8, 2010 5:17am Apr 8, 2010 5:17am
Quoting ukdaytrader
Yep, agreed. UY and AY look set to fall through the floor while Sterling is currently holding up. Incidently, GCh still hasn't closed the weekend gap.

Something significant is building IMO and it looks like Sterling weakness.
Uk! Let's see how daily candle close today. [Evening Star, Doji, Hanging Man...]
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #220,475
  • Apr 8, 2010 5:27am Apr 8, 2010 5:27am
Quoting FX Beginner
??????
hi

imho 2 possibilities
- if channels lower line holds it goes upper line
- if lower line and blue trend line break down it visits 140.50 even 139.50 supports

and wolfwave formed if price holds this level
if it works price goes other line of the wave (gr2)

trade safe
hasta siempre
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  • #220,476
  • Apr 8, 2010 6:56am Apr 8, 2010 6:56am
Hmm...having seen 142 yet...so fast going down 139.70 ?
  • #220,477
  • Apr 8, 2010 7:09am Apr 8, 2010 7:09am
Quoting riko2705
hi

imho 2 possibilities
- if channels lower line holds it goes upper line
- if lower line and blue trend line break down it visits 140.50 even 139.50 supports

and wolfwave formed if price holds this level
if it works price goes other line of the wave (gr2)

trade safe
hasta siempre
you are absolutely right, I think it's very wise to TP for old short positions and move SL (you can always re-enter); anyway waiting for the close, whether lower than the bottom boundary of the channel or higher than the minor down trend line in the current channel. hope luck to you all.
Attached Image (click to enlarge)
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  • #220,478
  • Apr 8, 2010 7:22am Apr 8, 2010 7:22am
Quoting grashid
a)141.50 & 140.30 is safe
b) 138.50/60 & 137.50/60 at 50% safe
c) 136.50 is risky

as a conclusion as i say i will stop riding bear at a) then Sl BE+ for b)

then take my coffee

am done and let this last 2 entry going to 141.50 and 139.50 acordingly.....

good luck guys and catch u guys later next week...

g

  • #220,479
  • Apr 8, 2010 7:31am Apr 8, 2010 7:31am
Quoting ukdaytrader
Just taken another long @ 141.47. Bit late, but targeting just above 142...

Let's see.
Closed this long now. Not getting greedy.
  • #220,480
  • Apr 8, 2010 7:34am Apr 8, 2010 7:34am
Quoting ukdaytrader
Closed this long now. Not getting greedy.
..n super sonic one more...hehe
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