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

  • #224,841
  • May 17, 2010 12:28pm May 17, 2010 12:28pm
Quoting 5ysfx
new channel
Yes see your target 136.30/60 should be tops if we get an hourly close above 134.29 in this session or Asia session. . . 134.29 is the trigger for higher price. . . Key will be if we close above 133.60 in NY - keep an eye out on this. . .
  • #224,842
  • May 17, 2010 12:33pm May 17, 2010 12:33pm
so are we in for for a correction to 135.80 /136.20 ??
  • #224,843
  • May 17, 2010 1:17pm May 17, 2010 1:17pm
quecee,,that triangle i posted earlier ,, might be a possibility ... that will take us to 138,50 (78.6) ... if that is the case ,,then we are in for some seriuos pips ($) ,,, because we add more and more on every rally at 78.6 until the breakout ,and then add more on breakout... and the triangle is 1100 pips ? so that will take us to 118,,and the bounce on 125 will only be a pause and dont see back up to 135 or close of it ,,the momentum after the breakout of the triangle will be powerfull ,like we all know ..

and what back my view is ,we are busy with a long inverted hammer on daily,but thats only on a UK platfrom ,and if i look ona US platform we then are busy with a bullsih engulf on daily,,but daily is not over yet... thats if we close on these levels ..then i cant see 135 or 136 will hold it ,and we are more in for 138.50 right at 78.6 ....
  • #224,844
  • May 17, 2010 1:22pm May 17, 2010 1:22pm
Quoting fullhouse
quecee,,that triangle i posted earlier ,, might be a possibility ... that will take us to 138,50 (78.6) ... if that is the case ,,then we are in for some seriuos pips ($) ,,, because we add more and more on every rally at 78.6 until the breakout ,and then add more on breakout... and the triangle is 1100 pips ? so that will take us to 118,,and the bounce on 125 will only be a pause and dont see back up to 135 or close of it ,,the momentum after the breakout of the triangle will be powerfull ,like we all know ..

and what back my view is ,we are...
Lets see what happens when we get to 135.88/136.16/30/60 area. . . not seeing 138.50 just yet. . . That would mean that we would be in a new weekly range and we haven't even tested the bottom of this weekly range yet so can't see 138.50 just yet but anything is possible

Weekly still bearish so don't know if we are finished with this range yet - 135.88 - 129.22
  • #224,845
  • May 17, 2010 1:25pm May 17, 2010 1:25pm
Quoting fullhouse
quecee,,that triangle i posted earlier ,, might be a possibility ... that will take us to 138,50 (78.6) ... if that is the case ,,then we are in for some seriuos pips ($) ,,, because we add more and more on every rally at 78.6 until the breakout ,and then add more on breakout... and the triangle is 1100 pips ? so that will take us to 118,,and the bounce on 125 will only be a pause and dont see back up to 135 or close of it ,,the momentum after the breakout of the triangle will be powerfull ,like we all know ..

and what back my view is ,we are...
I don't think can see 138. I think if really get very high also possible retrace to [email protected] only.
Still got space to go more low.
  • #224,846
  • May 17, 2010 1:28pm May 17, 2010 1:28pm
Hi everyone. The price is rising at a lower and lower volume. This don't look good for bull.
Read the entire market, money is made on the main trend not the fluctuation
  • #224,847
  • May 17, 2010 1:33pm May 17, 2010 1:33pm
Quoting Kofmaster
Hi everyone. The price is rising at a lower and lower volume. This don't look good for bull.
There is [email protected], anyway i get my new setup [email protected]. See you all at tokyo and frankie time. Good luck all.
  • #224,848
  • May 17, 2010 1:38pm May 17, 2010 1:38pm
if we go above 135.56 by next tokyo close, this means a bottom is in place and we should expect a significant consolidation/corrective rally.
if not, well, we continue lower.
Nihil Sine Deo.
  • #224,849
  • May 17, 2010 1:39pm May 17, 2010 1:39pm
Quoting special0nefx
I don't think can see 138. I think if really get very high also possible retrace to [email protected] only.
Still got space to go more low.

thats if we are not in a triangle,,if we are in one ,then we will see it..im myself want to short at 136 somewhere ,cause thats the 161.8 ext of ABC, but 99.9% in triangles,,the tops and bottoms are at the 78.6 fibs.
  • #224,850
  • May 17, 2010 1:39pm May 17, 2010 1:39pm
the time of the day is not relevant for volume interpretation. lower volume = less activity.

Quoting Kofmaster
Hi everyone. The price is rising at a lower and lower volume. This don't look good for bull.
Nihil Sine Deo.
  • #224,851
  • May 17, 2010 1:42pm May 17, 2010 1:42pm
I seem not to understand what you mean by "bottom is in place" does it mean the bulls are in charge or the bears. please explain,

Quoting Scrat
if we go above 135.56 by next tokyo close, this means a bottom is in place and we should expect a significant consolidation/corrective rally.
if not, well, we continue lower.
  • #224,852
  • May 17, 2010 1:43pm May 17, 2010 1:43pm
By the way where have you been? You went to Greece to give them a bailout? very soon you will be able to help nations with your green pips

Quoting Scrat
the time of the day is not relevant for volume interpretation. lower volume = less activity.
  • #224,853
  • May 17, 2010 1:50pm May 17, 2010 1:50pm
bottom is put by buyers, so bulls.

Quoting uncletrumpet
I seem not to understand what you mean by "bottom is in place" does it mean the bulls are in charge or the bears. please explain,
Nihil Sine Deo.
  • #224,854
  • May 17, 2010 1:51pm May 17, 2010 1:51pm
Something doesn't seem quite right about this end of day rally. Could be overall positive for bears as I'd see some weak shorts getting rattled and bailing out. Lacking a NY close above 134.00 would seem like a red flag to me also.

I haven't been able to do any charting today, but I guess all I'm saying is that the push down to 132 seemed pretty strong while this move back up has been a grind.
check out my blog: forexmademillionaire dot com
  • #224,855
  • May 17, 2010 1:52pm May 17, 2010 1:52pm
Should be ranging until we break out of some of these trend lines. If it doesn't break the upper trend line, down again to upper 132. Keepin an eye on this beast.
Attached Image (click to enlarge)
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  • #224,856
  • May 17, 2010 1:55pm May 17, 2010 1:55pm
on and off... yesterday i went to LA to see A-ha live... farewell tour, last time in US. too bad they will split soon.

Quoting uncletrumpet
By the way where have you been? You went to Greece to give them a bailout? very soon you will be able to help nations with your green pips
Nihil Sine Deo.
  • #224,857
  • May 17, 2010 1:59pm May 17, 2010 1:59pm
Quoting Geppy
Something doesn't seem quite right about this end of day rally. Could be overall positive for bears as I'd see some weak shorts getting rattled and bailing out. Lacking a NY close above 134.00 would seem like a red flag to me also.

I haven't been able to do any charting today, but I guess all I'm saying is that the push down to 132 seemed pretty strong while this move back up has been a grind.
the daily chart tells alot at the moment ... Uk platform long inverted hammer ,and US platform bullsih engulfing candle...the day is far from over ,,but if we close at these levels,,2morrow is def a bull day and possible wed. ..i cant see we break to a new low by tomorrow if we close at these levels on daily
  • #224,858
  • May 17, 2010 2:02pm May 17, 2010 2:02pm
and up we go...
Nihil Sine Deo.
  • #224,859
  • May 17, 2010 2:03pm May 17, 2010 2:03pm
We have tested the weekly lower range so it's only fitting to go and test the top of the range before we head lower. . .

I would be looking at the weekly chart and put a gann 10 and 5 sma on it and look for price to target 135.88 with a spike push to 136.30/60 area before more bears unload. . .

I'm long of the 131.90 area and above 134.30 close will target 1.618 abc correction of this last move down to 136.30/60 area. . .

Just what I see - I'll post a chart in a sec to show what I'm seeing. . .
  • #224,860
  • May 17, 2010 2:04pm May 17, 2010 2:04pm
Again if you look at weekly - weekly bearishness was activated so we will see lower price this week after the run up wherever it ends on this up move and 125 is still my target. . .
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