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

  • #225,861
  • May 23, 2010 1:38pm May 23, 2010 1:38pm
Quoting KillerWhale
lolz, not 08 style, and not worse.

For now it looks bullish, so just wait and see.

Lower lows............ later this week
maybe ......... or maybe not????????????????
Well true, I don't know how it will all turn out but the picture being painted of the accounting books in England looks worse than Greece.

I would think that the market makers bosses are looking to move england into the euro sometime soon and a solid whacking of the pound into oblivion might be just the ticket.

Seems like that is the plan to me for now until I see otherwise.

They are saying England spends more than it generates, and there isn't much to prop it back up.
  • #225,862
  • May 23, 2010 1:39pm May 23, 2010 1:39pm
Quoting Cod
Well true, I don't know how it will all turn out but the picture being painted of the accounting books in England looks worse than Greece.

I would think that the market makers bosses are looking to move england into the euro sometime soon and a solid whacking of the pound into oblivion might be just the ticket.

Seems like that is the plan to me for now until I see otherwise.
Thats exactly what my charts are saying!
  • #225,863
  • May 23, 2010 1:46pm May 23, 2010 1:46pm
Quoting fullhouse
killer..if we get a 4hour close above 130.50, then we will only jump upto 132.80 (with a spike above to confirm bullish) ,,then we will come back to form the right shoulder and ABC correction to B low ... then after that,its easy pips to 137.40 (my personal) top ,or end of wave C..
That is a picture that I see as well.... We might even get into the 139 level as a spike but I am comfortable with 137 level....
Traderdesk -
  • #225,864
  • May 23, 2010 1:47pm May 23, 2010 1:47pm
Quoting Allseeingeye
Watch the USD/CAD when it reaches near 1.0450 area sell the living day lights out of the GBP/JPY & GBP/USD I base this on the fact that the USD/CAD is in a perfect TEXT BOOK wave count & we are just at the begining of the move, I played them against each other all last week & it worked like a charm. Just trying to help people see it clearly. Flip the cad chart upside down & you will see what im talking about

you will see how we drop down next month in usd/cad to 1.0220 area ,then we have no lmits ..i do see 1.21/1.22 in the future ...

do you see ,if we close this week at these levels ,then we have a mornig star on monthly chart , the most of the times the next monthly candle ,after the morning star ,drop to the HIGH of the middle candle of MS.. and that will put us right at the bottom of a perfect H&S formation,,and that will be the right shoulder ... i agree this is a monster trade,and its the beginning,,but not just yet ..WE WILL GO UP SOMETIME THIS WEEK AND SPIKE ABOVE THE PREV HIGH ASWELL AS THE NECKLINE,,,then watch next month ,how we steady drop to form B low and right shoulder and to the low middle high candle of morning star ... i do watch this setup each day..butr still on the sideline ,,im waiting for that spike above prev ress ,and then might sell a bit ,,but the huge setup is long offcourse ..

so far nothing is yet to confirm bullish ? do you know that ... prev high still intact ?? but i do agree we will spiike above it,,and drop back down ...

so if that is inline with gbp/jpy then we are in for a retrace ? am i right ?? i dont follow these 2 together...
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  • #225,865
  • May 23, 2010 1:52pm May 23, 2010 1:52pm
Quoting fullhouse
you will see how we drop down next month in usd/cad to 1.0220 area ,then we have no lmits ..i do see 1.21/1.22 in the future ...

do you see ,if we close this week at these levels ,then we have a mornig star on monthly chart , the most of the times the next monthly candle ,after the morning star ,drop to the HIGH of the middle candle of MS.. and that will put us right at the bottom of a perfect H&S formation,,and that will be the right shoulder ... i agree this is a monster trade,and its the beginning,,but not just yet ..WE WILL GO UP SOMETIME...
I dont try to predict I am an Elliot Wave & Pattern trader & A WEDGE ON THE WEEKLY that has retested the TRENDLINE that also has a PERFECT TEXTBOOK ELLIOT WAVE COUNT is much more reliable then a pattern that "MIGHT DEVELOP" Until my wave 1 of 3 HIGH 1.0438 is not penetrated IM BULL TILL 118. yES i SEE A RETRACE AT THE OPEN NO LOWER THEN 1.0438 & THEN STRAIGHT UP USD/CAD & STRAIGHT DOWN GBP/JPY.
  • #225,866
  • May 23, 2010 1:53pm May 23, 2010 1:53pm
Quoting Cod
to move england into the euro sometime soon.
that will not happen, and even if they would think about it, it would take at least a few years.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #225,867
  • May 23, 2010 1:56pm May 23, 2010 1:56pm
Quoting Allseeingeye
here are 2 pics in USD/CAD we have completed wave 3 of 3 so we are presently retracing wave 4 of 3 then we have wave 5 of 3 up before we retrace wave 4 back down to the double top area & then we start wave 5

here is a weekly chart,,we are still pretty much in wave A ..wave B is still coming .... watch out !! i do see 1.02 somewhere there
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  • #225,868
  • May 23, 2010 1:58pm May 23, 2010 1:58pm
Quoting KillerWhale
that will not happen, and even if they would think about it, it would take at least a few years.
Ya, I agree it isn't going to happen this year anyway but i would expect the ground work to get laid for it.

But as usual I will watch the PA today and tomorrow and find a spot to jump in regardless of whatever crazy ideas I have about the big picture.

I certainly am not ruling out trips back up to the 140's but by the end of the year trading just above 100 would not surprise me at all.
  • #225,869
  • May 23, 2010 1:59pm May 23, 2010 1:59pm
Quoting Allseeingeye
I dont try to predict I am an Elliot Wave & Pattern trader & A WEDGE ON THE WEEKLY that has retested the TRENDLINE that also has a PERFECT TEXTBOOK ELLIOT WAVE COUNT is much more reliable then a pattern that "MIGHT DEVELOP" Until my wave 1 of 3 HIGH 1.0438 is not penetrated IM BULL TILL 118. yES i SEE A RETRACE AT THE OPEN & THEN STRAIGHT UP.

yip i understand,,but have this scenario also in mind,,if we back down after we flase break or spike above prev high @1.7780 +-
  • #225,870
  • May 23, 2010 2:02pm May 23, 2010 2:02pm
Quoting Allseeingeye
I dont try to predict I am an Elliot Wave & Pattern trader & A WEDGE ON THE WEEKLY that has retested the TRENDLINE that also has a PERFECT TEXTBOOK ELLIOT WAVE COUNT is much more reliable then a pattern that "MIGHT DEVELOP" Until my wave 1 of 3 HIGH 1.0438 is not penetrated IM BULL TILL 118. yES i SEE A RETRACE AT THE OPEN NO LOWER THEN 1.0438 & THEN STRAIGHT UP USD/CAD & STRAIGHT DOWN GBP/JPY.

hey,,say if my scenario so play out ? where do you see the gbp/jpy coming days ?? back up to 137/139 ? or letsa say a retrace back up ? is your usd/cad vice verca with gbp/jpy ?
  • #225,871
  • May 23, 2010 2:03pm May 23, 2010 2:03pm
Quoting fullhouse
you will see how we drop down next month in usd/cad to 1.0220 area ,then we have no lmits ..i do see 1.21/1.22 in the future ...

do you see ,if we close this week at these levels ,then we have a mornig star on monthly chart , the most of the times the next monthly candle ,after the morning star ,drop to the HIGH of the middle candle of MS.. and that will put us right at the bottom of a perfect H&S formation,,and that will be the right shoulder ... i agree this is a monster trade,and its the beginning,,but not just yet ..WE WILL GO UP SOMETIME...
Why are you looking at wave B when you have perfect 5 wave counts going up & the corrective waves are comming in 3 wave counts. I will only move to a ZIG ZAG second wave scenario if 1.0438 is broken & closed below. but if you look at GBP/JPY you see that it has broken the double bottom & we will see 125 very soon, or their wont be a honey moon
  • #225,872
  • May 23, 2010 2:05pm May 23, 2010 2:05pm
Quoting malcolmb14
us indexes took a beating last week , if they retrace some we could well see a rise in gj to 135 ish

130.30 is support on the weekly and as you said both gu and gj are going to be hard to play as they are on strong support levels.

here is weekly gj ... some form of retrace ..not really sure where to then next leg down will be into 125 to 120

es i am thinking we may see a little retrace but as long as 1125 holds we see 950

Attachment
133.5 is a very important level right now and as more as I look at monthly chart as ugly future I see for the pair
  • #225,873
  • May 23, 2010 2:07pm May 23, 2010 2:07pm
Quoting fullhouse
hey,,say if my scenario so play out ? where do you see the gbp/jpy coming days ?? back up to 137/139 ? or letsa say a retrace back up ? is your usd/cad vice verca with gbp/jpy ?
I have been waiting for the wedge to confirm for 2 months now & it has proven to be a GOLD MINE. Until it breaks my wave 1 of 3 high there is NO REASON TO THINK OTHERWISE & YES USD/CAD & GBP/GPY are EXACT OPPOSITS
  • #225,874
  • May 23, 2010 2:10pm May 23, 2010 2:10pm
Quoting Allseeingeye
A PICTURE TELLS 1000 STORIES DONT IT! I love that Song
I said this begining of May
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  • #225,875
  • May 23, 2010 2:11pm May 23, 2010 2:11pm
Quoting Allseeingeye
Why are you looking at wave B when you have perfect 5 wave counts going up & the corrective waves are comming in 3 wave counts. I will only move to a ZIG ZAG second wave scenario if 1.0438 is broken & closed below. but if you look at GBP/JPY you see that it has broken the double bottom & we will see 125 very soon, or their wont be a honey moon

i can only count 1 to 5 ,thats about it with elliot waves,,but if you look at the weekly chart,,then the prev high is still intact at 1.0780 (ONLY A DAILY OR WEEKLY CLOSE ABOVE THAT IS COMPLETE BULLISH) ... so thats why im still in wave A to spike above that prev high,then back down to form right shoulder or wave B on weekly chart.... you are right ,,this is the begining of a massive move,, and the same with gbp/jpy ... we can easily see 103 or lower on gbp/jpy in the coming months !!! that can i say is almost a GAURENTEE ,if i see where the usd/cad is heading coming months
  • #225,876
  • May 23, 2010 2:17pm May 23, 2010 2:17pm
Quoting Allseeingeye
Why are you looking at wave B when you have perfect 5 wave counts going up & the corrective waves are comming in 3 wave counts. I will only move to a ZIG ZAG second wave scenario if 1.0438 is broken & closed below. but if you look at GBP/JPY you see that it has broken the double bottom & we will see 125 very soon, or their wont be a honey moon

ok i see what you mean,,a perfect wave counts up ,then we are in for ABC ... i do see it on 1 hour ,,then ABC should go to 1.0450 somewhere ,if im right ..but lets....

on that wave count of 1 to 5 , ... how do you see we are done with wave 5 ? how can the top not be wave 3 and wave 5 will be a spike above that prev high ? then ABC correct.
  • #225,877
  • May 23, 2010 2:19pm May 23, 2010 2:19pm
Quoting fullhouse
ok i see what you mean,,a perfect wave counts up ,then we are in for ABC ... i do see it on 1 hour ,,then ABC should go to 1.0450 somewhere ,if im right ..but lets....

on that wave count of 1 to 5 , ... how do you see we are done with wave 5 ? how can the top not be wave 3 and wave 5 will be a spike above that prev high ? then ABC correct.
1.0450 is above 1.0438 so yes then You can call it an ABC but do your Fibs agree with an ABC count or a 5 wave count. Right now they are TEXT BOOK FIBS for a 5 wave count.
  • #225,878
  • May 23, 2010 2:35pm May 23, 2010 2:35pm
Quoting Allseeingeye
1.0450 is above 1.0438 so yes then You can call it an ABC but do your Fibs agree with an ABC count or a 5 wave count. Right now they are TEXT BOOK FIBS for a 5 wave count.
I broke it down for you guys on the 1 hr Good Luck & many pips to ALL!
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  • #225,879
  • May 23, 2010 2:52pm May 23, 2010 2:52pm
" if adam and eve were chinese ,we would still be in paradise because they would have ignored the apple and eaten the snake "

happy trading !
  • #225,880
  • May 23, 2010 2:53pm May 23, 2010 2:53pm
Quoting KillerWhale
For now it looks bullish, so just wait and see.

Lower lows............ later this week
maybe ......... or maybe not????????????????
It's hard NOT to be right with that analysis.
Every time you use 'hopium' in a post, God kills a kitten.
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