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

  • #222,481
  • Apr 26, 2010 7:39am Apr 26, 2010 7:39am
Quoting grashid
Monthly=Bull n no doubt 146.2-147.2 easyly or maybe even higher to 148.2-150.2-151.50

but weekly i saw something weird...bullish continuition (medium term)???
146.2-147.2 again easyly or even higher 148.2...

so for me...some cooking/fishy..
n maybe some price programming corrupted...

so the best way is = close my GBPJPY chart and look for other pair like EU/GU or AUDUSD etc



g
Sorry...forgot to attach chart...oppsss H4=143.40-142????..mmm
Attached Image(s) (click to enlarge)
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  • #222,482
  • Apr 26, 2010 8:24am Apr 26, 2010 8:24am
hahahahha crazy pair GJ up UJ up ...nonsense

are this a false breakout ...
  • #222,483
  • Apr 26, 2010 8:43am Apr 26, 2010 8:43am
This PA has me beat, I don't mind admitting it. Gunna just hedge and step out until I can see clearly again. Not making any sense at the moment.

It is clear to me that there are people desperate to short the market and they are getting burned with every thrust upwards. Also clear is there are other people who know just how much each little push up hurts those who are short.

We will fall hard. I am absolutely convinced of that. When this will happen is now not so certain.
  • #222,484
  • Apr 26, 2010 8:51am Apr 26, 2010 8:51am
When I say long, the market will fly. When I say short, the market will tank. I think the real bear will come during Asia. Again if you are long here, you are buying into a very strong resistance, the weekly ema 50. Price has been trading below this MA since November 2007 when it was at about 234. Even if price does break this resistance and move up to 150 area, it's still more of a lucky trade because during the past two years, if you had shorted GJ every time it touched the weekly ema 50, you would have been right and made a ton of money.
  • #222,485
  • Apr 26, 2010 9:00am Apr 26, 2010 9:00am
Quoting ukdaytrader
This PA has me beat, I don't mind admitting it. Gunna just hedge and step out until I can see clearly again. Not making any sense at the moment.

It is clear to me that there are people desperate to short the market and they are getting burned with every thrust upwards. Also clear is there are other people who know just how much each little push up hurts those who are short.

We will fall hard. I am absolutely convinced of that. When this will happen is now not so certain.

Base on my H4 and UJ H4...look am vote for ur short...but weekly make me think twice...mm


am wondering if our master VSA is here to give his input...Mal where r u mal ?
  • #222,486
  • Apr 26, 2010 9:35am Apr 26, 2010 9:35am
Quoting Pipsqueak
When I say long, the market will fly. When I say short, the market will tank. I think the real bear will come during Asia. Again if you are long here, you are buying into a very strong resistance, the weekly ema 50. Price has been trading below this MA since November 2007 when it was at about 234. Even if price does break this resistance and move up to 150 area, it's still more of a lucky trade because during the past two years, if you had shorted GJ every time it touched the weekly ema 50, you would have been right and made a ton of money.
Im a Bear but I wouldnt hold my breath about shorts unless we talking 100 pips this thing has had me BAFFLED for over a month now & I will just wait out the move to 156-158 & take it from there enjoy the hunt but dont become the HUNTED!
  • #222,487
  • Apr 26, 2010 9:43am Apr 26, 2010 9:43am
Quoting Pipsqueak
When I say long, the market will fly....
Just had a look and it's interesting. However, if I was a mathematician I'd be very worried about the one-sidedness of the price regarding the EMA 50.

Here's a quick weekly chart and look are the area inside those triangles, but NONE above. If it's a moving Average, the price has to mathematically cross the line in a big way sometime in the future to balance the average.

It's going to be like an elastic band snapping past it's pivot to the far end!
Attached Image (click to enlarge)
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  • #222,488
  • Apr 26, 2010 9:59am Apr 26, 2010 9:59am
Besides the U.K. Election next month... I too have been trying to get a better understanding of what moves the markets. So I have been trying to learn more economics. As most of you know the U.K. is part of the European Union, however, they choose to use the pound as their currency of choice. Then I was curious as to how the Greece debt effected the Eur and the U.K. currency. Being a newbie I didn't realize that when governments are in debt they sell bonds. And then it became clear. Greece is trying to sell those bonds. However, if they can't pay off those bonds, then who would want to buy them? However, if they get a solid bailout package, then paying off those bonds to the investors wouldn't be a problem. If I were a big investor, I would definately, buy tons of Greek bonds on the free ride of the ECB and the IMF bailout money and cash it in after the bailout goes through. As the big bucks go for the easy money with ECB and IMF backed bonds, their money is now in Eur dollars. The EU as a whole will be in a temporary bull market. After the free ride for the big bucks, then they big bucks will sell their bonds. Thus causing the Eur and currencies that are in the Euro zone to become bearish. So... If you had the big bucks, would you invest in Greece bonds if it was a gaurentee cash cow via a bailout package? And how would that effect the currency market?

Alright, that is food for thought, now I need to go read some more economics and fund my account somemore this week before the election.
Luck has no place in trading. Leave that for the poker table.
  • #222,489
  • Apr 26, 2010 10:02am Apr 26, 2010 10:02am
before going short, consider this chart.

also, keep in mind that we had significant activity @ 143.45 level (which i considered distribution but now i see it like consolidation because we just made a new high on daily/weekly/monthly).

other supports:
- 144.45 - last weekly close. we would need to see a daily close below this level to believe in a significant short. otherwise... buy all dips.
- 141.87 - last monthly close. theoretically, we would need to see a weekly close below this to believe in a resumption of the main downtrend.

that's it for now.
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Nihil Sine Deo.
  • #222,490
  • Apr 26, 2010 10:13am Apr 26, 2010 10:13am
I'm short at 145.67 and here's why, Stochs over bought, those of you familiar with woodies CCI will recognize the Vegas Trade, bearish divergence on CCI and price is at the top of MY range. Having said this if your a cautious trader the entry should be on a break of the previous 4hr bar at 145.16 plus the spread. The stop would be at the high of the current bar at 145.95 plus the spread, although personally I keep much wider stops. I don't think it's going to drop more than 150pips, even still that's a good R/R for me. good luck
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Without a trade plan, say bye bye to your account & hello to frustration.
  • #222,491
  • Apr 26, 2010 10:20am Apr 26, 2010 10:20am
Quoting Scrat
before going short, consider this chart.

also, keep in mind that we had significant activity @ 143.45 level (which i considered distribution but now i see it like consolidation because we just made a new high on daily/weekly/monthly).

other supports:
- 144.45 - last weekly close. we would need to see a daily close below this level to believe in a significant short. otherwise... buy all dips.
- 141.87 - last monthly close. theoretically, we would need to see a weekly close below this to believe in a resumption of the main downtrend.

that's...
You're the man. Simple and easy. Follow the charts is better than follow what you hope to see.
Read the entire market, money is made on the main trend not the fluctuation
  • #222,492
  • Apr 26, 2010 10:22am Apr 26, 2010 10:22am
"...BEFORE you can enter a trade in the opposite direction, PRICE has to STOP going in its original direction. This is BEFORE PRICE moves in the opposite direction. It has to STOP going in its original direction.

 PRICE cannot go in the opposite direction UNTIL it has STOPPED going in its original direction. When we see that PRICE has STOPPED, we look for signs that PRICE is going in the opposite direction.

Many times, (but not always), PRICE will go into consolidation after a big move, especially a big move down. PRICE will STOP going down but may not start going up again. We need to “SEE” and must always look for those signs to tell us that PRICE is now moving in the opposite direction...."

by Strat - a very wise senior member... you should all read his thread.

so... my question is, do we see price stopped going up?

Quoting PipinStein
I'm short at 145.67 and here's why, Stochs over bought, those of you familiar with woodies CCI will recognize the Vegas Trade, bearish divergence on CCI and price is at the top of MY range. Having said this if your a cautious trader the entry should be on a break of the previous 4hr bar at 145.16 plus the spread. The stop would be at the high of the current bar at 145.95 plus the spread, although personally I keep much wider stops. I don't think it's going to drop more than 150pips, even still that's a good R/R for me. good luck
Nihil Sine Deo.
  • #222,493
  • Apr 26, 2010 10:44am Apr 26, 2010 10:44am
Hi all... I'm out of all positions and going to be taking a break for at least a week. I need to treck back to Michigan for a funeral. Two of my closest friends were killed in a boating accident last night.

Life is too short, especially when it ends in your 20's.
check out my blog: forexmademillionaire dot com
  • #222,494
  • Apr 26, 2010 10:46am Apr 26, 2010 10:46am
very sorry to hear that. may God rest them in peace.

Quoting Geppy
Hi all... I'm out of all positions and going to be taking a break for at least a week. I need to treck back to Michigan for a funeral. Two of my closest friends were killed in a boating accident last night.

Life is too short, especially when it ends in your 20's.
Nihil Sine Deo.
  • #222,495
  • Apr 26, 2010 10:52am Apr 26, 2010 10:52am
Quoting Pair-me-up
Besides the U.K. Election next month... I too have been trying to get a better understanding of what moves the markets. So I have been trying to learn more economics. As most of you know the U.K. is part of the European Union, however, they choose to use the pound as their currency of choice. Then I was curious as to how the Greece debt effected the Eur and the U.K. currency. Being a newbie I didn't realize that when governments are in debt they sell bonds. And then it became clear. Greece is trying to sell those bonds. However, if they can't pay...
before you go out & bet the farm read more closly the EU & IMF DONT GUARANTEE BUCKUS SQUAT thats why the Greek Bonds have almost reached double what the IMF loan is. VERY HIGH RISK & the EU &IMF Loan will keep Greece breathing for only 12 months. This is a BANKER, GOLDMAN IMF & BILLDERBERG FRAUD Perpetrated on all economies with their dirivitive SCAM SO THEY CAN CHIP US & GET THEIR NWO witch I say stands for "NO WAY OUT" Watch INVISIBLE EMPIRE PRISONPLANET.TV you will get lots of facts & documents proving what I have just said, Iceland is the BRAVEST people in the World right now & we should all do the same & REFUSE TO PAY THESE LOANS THEY ARE FRAUDULANT!
  • #222,496
  • Apr 26, 2010 10:54am Apr 26, 2010 10:54am
Quoting Scrat
very sorry to hear that. may God rest them in peace.
Thanks Scrat.
check out my blog: forexmademillionaire dot com
  • #222,497
  • Apr 26, 2010 10:57am Apr 26, 2010 10:57am
Quoting ukdaytrader
This PA has me beat, I don't mind admitting it. Gunna just hedge and step out until I can see clearly again. Not making any sense at the moment.

It is clear to me that there are people desperate to short the market and they are getting burned with every thrust upwards. Also clear is there are other people who know just how much each little push up hurts those who are short.

We will fall hard. I am absolutely convinced of that. When this will happen is now not so certain.

i dont think its wise to short or rather wait for better chance ...at the close of todays candle will tell if the breakout is real or not ..london close in few min as well.
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MY OPINION NOT FINANCIAL ADVISE
  • #222,498
  • Apr 26, 2010 10:59am Apr 26, 2010 10:59am
Right~O

I agree. Basically it is a fancy plump and dump, that is why I was guessing it would be temporary bull market. The cow has no where to move, it is just being stuffed...ha ha ha Then it will be brought to the slaughter house. However, I just don't know how soon that will happen. But I am getting ready to listen for the screams of the cow so I can start shorting. But again... I still have tons more to read.
Luck has no place in trading. Leave that for the poker table.
  • #222,499
  • Apr 26, 2010 11:04am Apr 26, 2010 11:04am
Quoting Pair-me-up
Right~O

I agree. Basically it is a fancy plump and dump, that is why I was guessing it would be temporary bull market. The cow has no where to move, it is just being stuffed...ha ha ha Then it will be brought to the slaughter house. However, I just don't know how soon that will happen. But I am getting ready to listen for the screams of the cow so I can start shorting. But again... I still have tons more to read.
Its the Lambs remember SILENCE OF THE LAMBS when Cloris tell Hannibal she heard the Lambs SCREAMING, thats us if they WIN! Just look how screwed up everyones logic is, If you are a 911 TRUTHER your a TERRORIST but if you are a 911 LIAR you are good now we cant get worst then that!
  • #222,500
  • Apr 26, 2010 11:09am Apr 26, 2010 11:09am
Quoting Geppy
Hi all... I'm out of all positions and going to be taking a break for at least a week. I need to treck back to Michigan for a funeral. Two of my closest friends were killed in a boating accident last night.

Life is too short, especially when it ends in your 20's.
sorry to hear that geppy..so take care good of yourself ya...cheers
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