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

  • #227,281
  • Jun 8, 2010 8:22am Jun 8, 2010 8:22am
Quoting TheLastCoke
Let history repeat itself #969
I hadn't seen a break test bounce chart before, pretty cool, I will have to read up on that.
  • #227,282
  • Jun 8, 2010 8:23am Jun 8, 2010 8:23am
Quoting Beljevina
Nah ... with FTSE closing in 20 minutes, I think they're going to help get it to 130. Regardless what happens, the wildcard is what NY will do with this and other beasts.
On second view, relative volume has increased, and we've got what looks like buying on M5 and M15. Guess someone is defending this area afterall. Watching for what happens at 131.3 and 131.5.
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  • #227,283
  • Jun 8, 2010 8:24am Jun 8, 2010 8:24am


131.55 is the volume pivot for the day.

Quoting Geppy
don't have my charts in front of me but if memory serves correct 131.50/60 seems like a good place to start selling.
Nihil Sine Deo.
  • #227,284
  • Jun 8, 2010 8:25am Jun 8, 2010 8:25am
Ahhh thanks for the chart and the Fibos... I guess my memory is decent

Quoting Beljevina
On second view, relative volume has increased, and we've got what looks like buying on M5 and M15. Guess someone is defending this area afterall. Watching for what happens at 131.3 and 131.5.
check out my blog: forexmademillionaire dot com
  • #227,285
  • Jun 8, 2010 8:26am Jun 8, 2010 8:26am
As long as lower TL holds ,longs are still valid.
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  • #227,286
  • Jun 8, 2010 8:26am Jun 8, 2010 8:26am
Quoting Geppy
I was referencing momentum on this morning's move in particular. Comparing it to strong GBP/JPY moves... it's really not that strong and a retest of the flag seems likely before the real move begins. Large levels like this aren't broken easily and lots of traders will get whipsawed thinking it's the big move when it's just the hint that the big move is coming. So no, momentum hasn't been that strong this morning otherwise we'd be trading in the low 129s by now.
Agreed. I'm not looking at my charts, but I'd say it was being tested now.
Every time you use 'hopium' in a post, God kills a kitten.
  • #227,287
  • Jun 8, 2010 8:31am Jun 8, 2010 8:31am
this is the chart.
there was significant activity at today's low, probably enough to cap the fall for now. going back up to test resistances... will post another chart with upside levels.

Quoting Scrat


131.55 is the volume pivot for the day.
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Nihil Sine Deo.
  • #227,288
  • Jun 8, 2010 8:37am Jun 8, 2010 8:37am
Quoting Scrat


131.55 is the volume pivot for the day.
what is volume pivot?
Read the entire market, money is made on the main trend not the fluctuation
  • #227,289
  • Jun 8, 2010 8:42am Jun 8, 2010 8:42am
the price where most tick activity happened.

Quoting Kofmaster
what is volume pivot?
Nihil Sine Deo.
  • #227,290
  • Jun 8, 2010 8:46am Jun 8, 2010 8:46am
LTL and support line is still holding on H4 so longs are valid.
just my 2cents
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  • #227,291
  • Edited 8:59am Jun 8, 2010 8:49am | Edited 8:59am
The ratio of buyers to sellers for the GBPUSD is 0.71

This signifies that there are 0.71 buyers for every 1 seller.

Retail positioning is a contrarian indicator as this is a flat level and the GBPUSD is near support, further upside is expected.
http://i260.photobucket.com/albums/i...s/GBPUSD30.gif
  • #227,292
  • Jun 8, 2010 8:52am Jun 8, 2010 8:52am
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  • #227,293
  • Jun 8, 2010 8:56am Jun 8, 2010 8:56am
Hi GBPJPY guys,
every one in this forum make good job, bulls as well as bears. I'm very short term trader, so there is no much +value in my posts. But I read you before every trade I make with this pair. So thanks for all. I'm now looking for a currency pair mostly disconnected with GY, if you have an idea about, it would be very kind of sharing it.

Thanks.
Don't be smart. Be rich.
  • #227,294
  • Jun 8, 2010 9:02am Jun 8, 2010 9:02am
Quoting Scrat
the price where most tick activity happened.
ok thanks
Read the entire market, money is made on the main trend not the fluctuation
  • #227,295
  • Jun 8, 2010 9:28am Jun 8, 2010 9:28am
The ratio of buyers to sellers for the GBPJPY is 1.14

This signifies that there are 1.14 buyers for every 1 seller.

Retail positioning is a contrarian indicator so further downside is expected.
http://i260.photobucket.com/albums/i...s/GBPJPY30.gif
  • #227,296
  • Jun 8, 2010 9:55am Jun 8, 2010 9:55am
FYI. I have 2 different TF with possible H&S patterns. Which will win here?

PA just bounced from 61.8% 130.43 and got back into the channel.

Any inputs?
Attached Image (click to enlarge)
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Do not follow my trades. Trade what you see on your own charts.
  • #227,297
  • Jun 8, 2010 10:17am Jun 8, 2010 10:17am
I'm short from 131.70. I'm targeting 128 where I'd expect perhaps another retracement of a couple hundred pips. 130 is a big level and it's clearly in danger... I think it'll be broken this week and then we'll head back up to test it as resistance. 128 may be conservative and a rough estimate on target as I did a mental fibo extension based on what I can recall in my head on the most recent high and low on a 4H chart, but I'll be out of town (Las Vegas ) and would rather set some conservative targets and not worry about it while I'm gone.

Just my view...
check out my blog: forexmademillionaire dot com
  • #227,298
  • Jun 8, 2010 10:21am Jun 8, 2010 10:21am
Quoting igmak
FYI. I have 2 different TF with possible H&S patterns. Which will win here?

PA just bounced from 61.8% 130.43 and got back into the channel.

Any inputs?
A daily close below 131 today and all hell will break loose. That would put the top H&S into play. A daily close below 131 would also mean below the daily gann, which is very important. Let's see how these last few hours play out. A daily close below 131 will confirm a drop to about 127 area.
  • #227,299
  • Jun 8, 2010 11:31am Jun 8, 2010 11:31am
I looked at the 4H chart... sure looks like it has a lot of room to fall so naturally I sold a bit more at 131.42
check out my blog: forexmademillionaire dot com
  • #227,300
  • Jun 8, 2010 11:36am Jun 8, 2010 11:36am
man you just can't help it can you. i was waiting for a test of london close to sell more...

Quoting Geppy
I looked at the 4H chart... sure looks like it has a lot of room to fall so naturally I sold a bit more at 131.42
Nihil Sine Deo.
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