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

  • #225,361
  • May 19, 2010 11:18am May 19, 2010 11:18am
You couldn't pay me to go long... terrible risk/reward

Quoting hindart
looks like it is making reverse H&S on M30 and H1. Or from other angle you can say its diamond bottom on H" and H4 with proper MCAD and RSI position.
It is going for a healthy retrace I believe. I am long @131 with 75 pip stop loss.
check out my blog: forexmademillionaire dot com
  • #225,362
  • May 19, 2010 11:19am May 19, 2010 11:19am
Quoting fullhouse
who else here see 137/138 ?? anyone? ,,is it jsut me for the last 2 days?
It's just you. The highest I could see is 134.60 if GJ breaks the shampoo neckline at 132. Then it will come down again. The bears have a hammer grip on this pair.
  • #225,363
  • May 19, 2010 11:20am May 19, 2010 11:20am
Quoting Geppy
You couldn't pay me to go long... terrible risk/reward
You could pay me... if you were willing to pay me 3 times what I was risking. It's a decent r/r scenario that way. Any takers?
Every time you use 'hopium' in a post, God kills a kitten.
  • #225,364
  • May 19, 2010 11:21am May 19, 2010 11:21am
Today was a good day to see PA... in action

http://img138.imageshack.us/img138/3...fornewbies.gif
Hello.
  • #225,365
  • May 19, 2010 11:24am May 19, 2010 11:24am
Quoting Geppy
A breach of 10,000 in the DOW this or next week would be a pretty big psychological mind f#*k

i will not agree with you,,you will get a fat surprise later on,,if not then well done to keep it these extreme levels for short...

to short now is for me def no go,,and why must i short and "hope" for a breakout ?

but you could be right and have the balls to keep it,and hope we get through 129 .. its not my style of trading,and i do like to short at tops and buy on bottoms... for me we are right at the bottom,heading to 135-138 for a deep pullback ..

my view has not change for the last days and i do still see higher levels before we finally breakdown...

its only my view,and you ignor it probably...

oh well good luck !
  • #225,366
  • May 19, 2010 11:28am May 19, 2010 11:28am
Quoting $teve
It's just you. The highest I could see is 134.60 if GJ breaks the shampoo neckline at 132. Then it will come down again. The bears have a hammer grip on this pair.

stay tuned..
  • #225,367
  • May 19, 2010 11:32am May 19, 2010 11:32am
Quoting fullhouse
i will not agree with you,,you will get a fat surprise later on,,if not then well done to keep it these extreme levels for short...

to short now is for me def no go,,and why must i short and "hope" for a breakout ?

but you could be right and have the balls to keep it,and hope we get through 129 .. its not my style of trading,and i do like to short at tops and buy on bottoms... for me we are right at the bottom,heading to 135-138 for a deep pullback ..

my view has not change for the last days and i do still see higher levels before we finally...
Really, what TF are you seeing this possiblilty? I'm always curious on these views as I see a test of the 118/119 levels again, but don't see this happening for many months. Between now and then, I just trade my charts as I am primarily day trader.

Thx for your opines!
  • #225,368
  • May 19, 2010 11:35am May 19, 2010 11:35am
Quoting USTrader
Really, what TF are you seeing this possiblilty? I'm always curious on these views as I see a test of the 118/119 levels again, but don't see this happening for many months. Between now and then, I just trade my charts as I am primarily day trader.

Thx for your opines!
ill post a chart later,,but i want QUecee to post his view,,im sure his view also has not change yet to fully bearish,and still see a deeper pullback..

yes im sure see also 103 to 120 levels later on ,,but for medium term,,now,the next few days ,i see 137/138
  • #225,369
  • May 19, 2010 11:39am May 19, 2010 11:39am
Quoting Geppy
You couldn't pay me to go long... terrible risk/reward
Why its terrible RR, Its going to hit 132.3 at least and I am at BE now.
  • #225,370
  • May 19, 2010 11:42am May 19, 2010 11:42am
.....something to keep in mind. Large £3B Cable option expiring tomorrow. Price set below 144.
  • #225,371
  • May 19, 2010 11:48am May 19, 2010 11:48am
Quoting fullhouse
ill post a chart later,,but i want QUecee to post his view,,im sure his view also has not change yet to fully bearish,and still see a deeper pullback..

yes im sure see also 103 to 120 levels later on ,,but for medium term,,now,the next few days ,i see 137/138
Bro my view is this. . .

We trade well under the upside continuation target. . . We have pounced on that 130/129.72 support couple times in the last 24 hours. A break below it and we see 125/118 the very least. . .

For an upside continuation back to 138/140 we'd have to see a break up and weekly close above 135/135.88 area.

Otherwise, we may see wave 5 of 5 activated. This wave pattern is starting to look like wave 5 of 5 IMO and not an ABC corrective pattern. . .
  • #225,372
  • May 19, 2010 11:51am May 19, 2010 11:51am
Awww... Q, now why'd you have to go do that!??! You were Gucc's "ace in the hole" confirmation indicator. Now he's going to have to second guess himself

Quoting quecee5
Bro my view is this. . .

We trade well under the upside continuation target. . . We have pounced on that 130/129.72 support couple times in the last 24 hours. A break below it and we see 125/118 the very least. . .

For an upside continuation back to 138/140 we'd have to see a break up and weekly close above 135/135.88 area.

Otherwise, we may see wave 5 of 5 activated. This wave pattern is starting to look like wave 5 of 5 IMO and not an ABC corrective pattern. . .
check out my blog: forexmademillionaire dot com
  • #225,373
  • May 19, 2010 11:59am May 19, 2010 11:59am
Quoting quecee5
Bro my view is this. . .

We trade well under the upside continuation target. . . We have pounced on that 130/129.72 support couple times in the last 24 hours. A break below it and we see 125/118 the very least. . .

For an upside continuation back to 138/140 we'd have to see a break up and weekly close above 135/135.88 area.

Otherwise, we may see wave 5 of 5 activated. This wave pattern is starting to look like wave 5 of 5 IMO and not an ABC corrective pattern. . .

yip i agree ,,a close above 134.81 is all what needed to go and test 137/138 ... but if you look at 4 hour 137/138 is still well below 200EMA,,still bearish ?? and bearish view still there for longer term..

yip,if we break 129/130 ,,then its all the way down..

and if we dont test 134.80 by end of trading day 2morrow,,then i cant see it happen that we get a deeper pullback ,,and down we go probably ..

i do see both scenarios..down and up .. but i could'nt help to place a long at 130.40
  • #225,374
  • May 19, 2010 12:03pm May 19, 2010 12:03pm
Quoting Geppy
Awww... Q, now why'd you have to go do that!??! You were Gucc's "ace in the hole" confirmation indicator. Now he's going to have to second guess himself

nah dont worry... im bullsih now for 135/138 ..below 129,i will change the view and see where is the best possibiltiy entry for short ..
  • #225,375
  • May 19, 2010 12:07pm May 19, 2010 12:07pm
Quoting kourtney
so repeating the question anybody see a correction to 132.50 +-? because i see one before this dead monster keeps going down just want to share and compare if anybody has the same view
I was just thinking about this post. Posted on May 18, 2010 8:51pm (16 hr ago). Great call kourtney!
  • #225,376
  • May 19, 2010 12:08pm May 19, 2010 12:08pm
Quoting fullhouse
nah dont worry...
wasn't worried.
check out my blog: forexmademillionaire dot com
  • #225,377
  • May 19, 2010 12:16pm May 19, 2010 12:16pm
this is the range for now. a break above = test of 134.79 area; a break below = new low.

keep your eyes on the chart.
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #225,378
  • May 19, 2010 12:28pm May 19, 2010 12:28pm
Quoting Geppy
wasn't worried.

here is my outlook,,will play accordingly until the low @ 129.80 has been broken ..

keep this in mind if you stay short and above 132.50 ,,getting dangerous for bears ...

we will both demolish the bear trend with shorts,,but the time is just not right for me..we both got the same view ,but differs slightly ,and i will join your train if we break below 129 coming days...

but for now i keep longs ,until 134.50 ,and will re - enter again at the bottom of right shoulder on my chart for above targets
Attached Image (click to enlarge)
Click to Enlarge Name: gep.jpg Size: 109 KB
  • #225,379
  • May 19, 2010 12:39pm May 19, 2010 12:39pm
You realize that descending resistance trendline you drew only connected to one high right? It looks like you just drew it to where you want price to go and completely fabricated it. That's just weird.

Quoting fullhouse
here is my outlook,,will play accordingly until the low @ 129.80 has been broken ..

keep this in mind if you stay short and above 132.50 ,,getting dangerous for bears ...

we will both demolish the bear trend with shorts,,but the time is just not right for me..we both got the same view ,but differs slightly ,and i will join your train if we break below 129 coming days...

but for now i keep longs ,until 134.50 ,and will re - enter again at the bottom of right shoulder on my chart for above targets
check out my blog: forexmademillionaire dot com
  • #225,380
  • Edited 1:07pm May 19, 2010 12:43pm | Edited 1:07pm
Short term change in view on the GBPJPY. Trend is still down, but it needs to breathe and the pattern... well speaks for itself.

http://www.forexfactory.com/attachme...0&d=1274290873
Every time you use 'hopium' in a post, God kills a kitten.
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