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

  • #223,041
  • May 2, 2010 6:23am May 2, 2010 6:23am
Quoting Flem26
This guy here does a pretty good job on his blog laying it all out:

The Country of Fiscal Prudence

"Canada.

The land of the strong and free. The land of fiscal prudence. Or so we have been told."

I apologize for hijacking the thread, but I get tired of the "Canada can do no wrong" argument that has been broadcast everywhere up here from the infomercial mainstream media to the so-called economists and especially the politicians.

Orionsway! Holla...
All good things must come to an END! Its obvious non of you Goose lovers know anything about the Canadian Economy. But even if you dont you should all know by know that when the Media starts singing the praises of ANYONE OR ANYTHING its time to GET OUT! USD/CAD can take one more tumble to .9730 area but I doubt it will try but I see the CAD getting CRUSHED back to the 1.20-1.30 area in the very near Future.
  • #223,042
  • May 2, 2010 6:28am May 2, 2010 6:28am
Quoting Allseeingeye
All good things must come to an END! Its obvious non of you Goose lovers know anything about the Canadian Economy. But even if you dont you should all know by know that when the Media starts singing the praises of ANYONE OR ANYTHING its time to GET OUT! USD/CAD can take one more tumble to .9730 area but I doubt it will try but I see the CAD getting CRUSHED back to the 1.20-1.30 area in the very near Future.
A PICTURE TELLS 1000 STORIES DONT IT! I love that Song
  • #223,043
  • May 2, 2010 6:31am May 2, 2010 6:31am
Quoting Allseeingeye
A PICTURE TELLS 1000 STORIES DONT IT! I love that Song
A PICTURE TELLS 1000 STORIES DONT IT! I love that Song
Attached Image (click to enlarge)
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  • #223,044
  • May 2, 2010 6:36am May 2, 2010 6:36am
Quoting Raza
it gives you the same value anyway isn't it.?...

By the Way from your chart looks like its in wave5 which has not finished yet..

Its gonna be an intersting Week coming up...and an interesting Time from Now ON....for many

Currencies..

I can say this Much that GBP could be a Major Bull along with CAD..
NO IT DOESNT you have to draw your Fibs the RIGHT WAY or dont use them, how can you get a 78.6 retracement if you draw them the wrong way, thats IMPOSSIBLE I have tried to tell people in this room before but i get the same answer it doesnt matter, well if it didnt matter then you would have just lines no values.
  • #223,045
  • May 2, 2010 6:44am May 2, 2010 6:44am
Quoting Raza
it gives you the same value anyway isn't it.?...

By the Way from your chart looks like its in wave5 which has not finished yet..

Its gonna be an intersting Week coming up...and an interesting Time from Now ON....for many

Currencies..

I can say this Much that GBP could be a Major Bull along with CAD..
Hi Raza, yes, the numbers are equal, just wonder how accurate is
I am not familiar with EW, but according to Auslanco system, bulls are not done yet. The price is above daily Gann, QQE isn't cross, but momentum pointing down which makes me expect the price to touch gann, next week, before continuing up
Addicted to FX
  • #223,046
  • May 2, 2010 6:48am May 2, 2010 6:48am
Quoting Raza
Nothing much... How about YOU?

Full house Why would you Short this..? Unless for Scalp..

This thing was in range for 11 Months..and previous resistence which has become support has been tested at 90 once !!!!

If its Below 78.56.. then Short 4 Sure.. But we are far from it...

First Resistence to the UP side is.. 98xx.. Would be safe to sell from There..IMO..

If it Breaks the Upper Orange TL..its a BUY..IMO..

Of course Could be Wrong... I see Bullish Divergence on RSI..DAILY..
Weekly is almost But...
This is a Perfect BEAR FLAG Has retraced 78.6 & its a PERFECT SELL with a stop about 50 above 78.6 fib.
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  • #223,047
  • May 2, 2010 7:16am May 2, 2010 7:16am
Quoting Allseeingeye
NO IT DOESNT you have to draw your Fibs the RIGHT WAY or dont use them, how can you get a 78.6 retracement if you draw them the wrong way, thats IMPOSSIBLE I have tried to tell people in this room before but i get the same answer it doesnt matter, well if it didnt matter then you would have just lines no values.
Standard is 76.4% which is 23.6% ...from what I know,,

78.6...70.7...81.00% ..27.2%..are different story...
Markets are not Random, they are designed!
  • #223,048
  • Edited 8:50am May 2, 2010 8:34am | Edited 8:50am
i don't know what you guys think but if we ever gonna test lows again, this parity will hit 148.xx first before proceeding to that, on daily chart i see a bearish divergence forming but its not finished yet, so i assume last month was just a consolidation before a last move up to 148.xx area, then we dive imho.

besides, i'm not sure if this is a valid assumption but there is a similar pattern to what we are going through on daily on 4h charts, between april 14 and 26 of april. first big move down, then sharp retracement, then consolidation and final move up, then dive. apply this to daily chart and you will see. actually in that case eyes seeing 153.xx but then again, i'm not sure as forex is the world of uncertainity.

waiting for your ideas.

best wishes to all.
  • #223,049
  • May 2, 2010 8:51am May 2, 2010 8:51am
Quoting Raza
Nothing much... How about YOU?

Full house Why would you Short this..? Unless for Scalp..

This thing was in range for 11 Months..and previous resistence which has become support has been tested at 90 once !!!!

If its Below 78.56.. then Short 4 Sure.. But we are far from it...

First Resistence to the UP side is.. 98xx.. Would be safe to sell from There..IMO..

If it Breaks the Upper Orange TL..its a BUY..IMO..

Of course Could be Wrong... I see Bullish Divergence on RSI..DAILY..
Weekly is almost But...

i think ill disagree wth you ,but i do see 95-100 as top major ress.. but lets see ,,90 is KEY supp,,if we break below,then down will we go to 79-82 level... otherwise we will be back in ranging ,until we trade below 90

i do see major tops is on place on 2 pairs ..cad/jpy/ aud/jpy .and if gbp/jpy go as low as 130-136 then i do see cad/jpy break below 90 level..

for sure the next 2 weeks will be interresting and exciting !!
  • #223,050
  • May 2, 2010 12:15pm May 2, 2010 12:15pm
Quoting Allseeingeye
All good things must come to an END! Its obvious non of you Goose lovers know anything about the Canadian Economy. But even if you dont you should all know by know that when the Media starts singing the praises of ANYONE OR ANYTHING its time to GET OUT! USD/CAD can take one more tumble to .9730 area but I doubt it will try but I see the CAD getting CRUSHED back to the 1.20-1.30 area in the very near Future.
What are you talking about? That's exactly the point I'm trying to make. I'm in full agreement with you.
"Don't trade to trade . . . trade to win." - James16
  • #223,051
  • May 2, 2010 1:37pm May 2, 2010 1:37pm
Scrat, what about if we have a week opening on sunday with a gap, do we say the week closed at the place where the gap opened or where can we call the week closed.

Quoting Scrat
my current view on g-j.

- long term, still trading inside a downward channel with upper limit @ 150 area.
- medium term, trading inside an upward smaller channel and as long as lower limit will hold we are in "buy the dips" mode.

a new monthly close is in place at 143.25. if we are to continue up then we should not see any weekly close below this value.

my guess is that if/once we have a daily close ABOVE 143.25, we are ready to go up again and 143.25 will turn into next important support.
on the other hand, if next week we get a daily...
  • #223,052
  • May 2, 2010 1:39pm May 2, 2010 1:39pm
U are just talking as if the market will just drop 1,000 just like that. beware, look at the biases and enter with immediate bias that you see. Market will decide to do what he likes.

Quoting fullhouse
ok ..... its sat. morning here and i cant wait for the reopening of the market on sunday.WE have like 3 days left for consilidation before we will see KABOOOM !!!...

here is my view and this view is not confirm yet ,we wil see if we bounce at the 78.6 @ 142.38 ,and not take out the low..THEN THIS IS THE PATTERN WE WILL BE IN FOR THE NEXT 3 DAYS AND FINAL DAYS ..
we are then in a triangle .. i was waiting all 2 weeks for this triangle to develop and finally i might see, its here ....

im still on the sideline and im waiting for the bounce at...
  • #223,053
  • May 2, 2010 1:45pm May 2, 2010 1:45pm
the week closed on Friday @ NY close.
if there is a gap, it is the new weekly open. doesn't change the main bias, look on higher timeframes for direction.

Quoting uncletrumpet
Scrat, what about if we have a week opening on sunday with a gap, do we say the week closed at the place where the gap opened or where can we call the week closed.
Nihil Sine Deo.
  • #223,054
  • May 2, 2010 2:00pm May 2, 2010 2:00pm
Hi buddies,

the market is range bound and we need to be patient!! Look at Gbp/usd it is range bound in less than 600 pips for the whole month of april that just ended. Gbp/Jpy has been ranging between a range less than 750 pips for the month of april that just ended.

Usd/Jpy has been bullish all the way but there has been no gas to climb higher. Remember that what drives Gbp/Jpy are these other two. Lets be sure if one will wait for one. ( I mean for G/U or U/J). Lets be hopeful that they go thesame direction and we shall make more green pips.

they are all resting and lets be careful

I like you to always remember that markets giveth and it taketh.

For Monday's trading the UK zone, the China zone, the Japan alll would be on holiday, it will be wise to stayaway from the market.

Also remember its not how much you make in this market but how long you stay in this market.
  • #223,055
  • May 2, 2010 2:04pm May 2, 2010 2:04pm
Quoting uncletrumpet
Hi buddies,

the market is range bound and we need to be patient!! Look at Gbp/usd it is range bound in less than 600 pips for the whole month of april that just ended. Gbp/Jpy has been ranging between a range less than 750 pips for the month of april that just ended.

Usd/Jpy has been bullish all the way but there has been no gas to climb higher. Remember that what drives Gbp/Jpy are these other two. Lets be sure if one will wait for one. ( I mean for G/U or U/J). Lets be hopeful that they go thesame direction and we shall make more green pips.

they...
I wasn't aware that the UK, China, and Japan were on holidays. Thanks for the heads up. I guess Japan is on holiday the following day as well. Thanks again.
"Don't trade to trade . . . trade to win." - James16
  • #223,056
  • May 2, 2010 2:15pm May 2, 2010 2:15pm
Let wait for GU to have daily candle close above 1.5387 or below 1.5182/44

that is for Gbp/Usd

For Usd/Jpy we need a daily close above 94.58 or daily close below 93.43 that will lead us to 92.80

These two currencies will give order to what Gbp/Jpy wil do. This is my story

Hey friends what do you think, Is Scrat in the room?

Quoting uncletrumpet
Hi buddies,

the market is range bound and we need to be patient!! Look at Gbp/usd it is range bound in less than 600 pips for the whole month of april that just ended. Gbp/Jpy has been ranging between a range less than 750 pips for the month of april that just ended.

Usd/Jpy has been bullish all the way but there has been no gas to climb higher. Remember that what drives Gbp/Jpy are these other two. Lets be sure if one will wait for one. ( I mean for G/U or U/J). Lets be hopeful that they go thesame direction and we shall make more green pips.

they...
  • #223,057
  • May 2, 2010 2:46pm May 2, 2010 2:46pm
Quoting Flem26
What are you talking about? That's exactly the point I'm trying to make. I'm in full agreement with you.
im a dummy when it comes to answering but i think i figured it out. i have to find the original post or else i answer the people that are answering is that right. by the way im sorry for the confusion i caused you.
  • #223,058
  • May 2, 2010 3:25pm May 2, 2010 3:25pm
Quoting Allseeingeye
im a dummy when it comes to answering but i think i figured it out. i have to find the original post or else i answer the people that are answering is that right. by the way im sorry for the confusion i caused you.
It's alright. No worries mate.
"Don't trade to trade . . . trade to win." - James16
  • #223,059
  • May 2, 2010 3:28pm May 2, 2010 3:28pm
GBP,USD W1---GBP D1---GBP H4

elliot wave
pattern, harmonic impuls wave
pattern , butterfly
Attached Image(s) (click to enlarge)
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  • #223,060
  • May 2, 2010 3:39pm May 2, 2010 3:39pm
Quoting Allseeingeye
A PICTURE TELLS 1000 STORIES DONT IT! I love that Song

waiting for break up wedge
beside, bounced monthly 78.6 and there is pinbar like monthly candle
good trading week
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