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

  • #228,961
  • Jul 12, 2010 7:11am Jul 12, 2010 7:11am
Quoting KillerWhale
Did you look at the 4 H and Daily?
Selling would be a better option I think. I will post a chart
it was a mistake Shamu to enter long that early but any way closed both on small profit until study another entry
  • #228,962
  • Jul 12, 2010 7:58am Jul 12, 2010 7:58am
I will continue to hold my longs and buy more on dips.Stop amended at breakeven .
  • #228,963
  • Jul 12, 2010 10:09am Jul 12, 2010 10:09am
you have been seeing 128 "today or tomorrow" for quite some time now... why don't you put it into your signature...

it's not gonna happen today. london will close in about one hour, and so far it looks like american session is smoking the usual crack... so i seriously doubt this pair will drop another 500 pips from here. today, that is. tomorrow, maybe.

i do agree however that bias is somehow bearish... and we might see a nice run down, because both u-j and g-u are retracing in the same direction.

Quoting Raza
Me too ...But not long Yet just closed a Nice Short...

4hr and other Tfs RSI is at very dangerous Point ATM..

I am waiting for Daily Lower Bollinger Band to be touched to go long for Scalp or intraday swing...

OTHERWISE WE CAN SEE 128 TODAY OR TOMORROW...
Nihil Sine Deo.
  • #228,964
  • Jul 12, 2010 10:12am Jul 12, 2010 10:12am
Quoting Scrat
you have been seeing 128 "today or tomorrow" for quite some time now... why don't you put it into your signature...
... gotta love the 128 magic 8ball number

I took some shorts this morning at 133.50 after missing entry at 134.25 last night. Looking for 132.20ish or so initially as first target. I've learned to not expect much of a solid trend with this pair lately and take 100-150 pips here and there and wait to reload. Seems like the best strategy for now.
check out my blog: forexmademillionaire dot com
  • #228,965
  • Jul 12, 2010 10:14am Jul 12, 2010 10:14am
FTSE closing soon, and London must be selling GY - that's a heavy duty H1 candle too. Should rebound from around here - bought at 133.05 and might be buying at 132.84 as the last stop, SL just below 132.8; should see a 30 pip rebound at least, and possible US buying. NY will take a break for a couple of hours and it should retrace - another decision point comes after 2pm NY time.
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  • #228,966
  • Jul 12, 2010 10:20am Jul 12, 2010 10:20am
yes, looks like they all talked to each other and agreed to stop moving... scalping mode for now. but i am watching pound, aussie and loonie for possible reversals.

Quoting Geppy
... gotta love the 128 magic 8ball number

I took some shorts this morning at 133.50 after missing entry at 134.25 last night. Looking for 132.20ish or so initially as first target. I've learned to not expect much of a solid trend with this pair lately and take 100-150 pips here and there and wait to reload. Seems like the best strategy for now.
Nihil Sine Deo.
  • #228,967
  • Jul 12, 2010 10:34am Jul 12, 2010 10:34am
Quoting Scrat
yes, looks like they all talked to each other and agreed to stop moving... scalping mode for now.
Yep, no sense in really doing anything else until this triangle is broken. I favor a break of lower support and a retest as resistance before getting ready for an actual sustainable trend again, but as we both know... it could go either way
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  • #228,968
  • Jul 12, 2010 10:36am Jul 12, 2010 10:36am
Not to overpost, but am doing so for: 1) Wow, what a quick drop 5 min before FTSE close: 25 pip wick, 40+pip M5 candle (profit taking or further shorting for a bearish sterling week?) but also note 2) how nicely it falls into the support areas, and how fib adherehent this puppy is, ie., notice the last blue fib & how it retraced to 61.8% and then flash dropped. I tend to draw these fibs all the time on apparent range moves, and scalp in at the retrace point of support & resistance.

Keeping an eye out for the wick to be bottom - really depends on what NY wants to do with this - GY remains heavily correlated to S&P. If we dip below 132.8, we'll see how disliked the pound really is. Given the London PA, I would not be surprised to see no double bottom at 132.5 - depends how much London shorting impacts US traders. Note what I regard as a huge move on M15 GU: a 56pip M15 candle

EDIT: 132.8 longs out at BE. Note how the last hour of NY undid the 100 pip rise during London. GU fared much worse IMHO, with significant selling.
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  • #228,969
  • Jul 12, 2010 10:39am Jul 12, 2010 10:39am
http://www.forexfactory.com/news.php?do=news&id=245338

Quoting Beljevina
Not to overpost, but am doing so for: 1) Wow, what a quick drop 5 min before FTSE close: 25 pip wick, 40+pip M5 candle (profit taking or further shorting for a bearish sterling week?) but also note 2) how nicely it falls into the support areas, and how fib adherehent this puppy is, ie., notice the last blue fib & how it retraced to 61.8% and then flash dropped. I tend to draw these fibs all the time on apparent range moves, and scalp in at the retrace point of support & resistance.

Keeping an eye out for the wick to be bottom - really depends...
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #228,970
  • Jul 12, 2010 10:40am Jul 12, 2010 10:40am
I wonder if the market knew this morning, reacted, got wind of when the news would be released, and thought, hmm, we have time for a few more pips yet and took Sterling back up for a while.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #228,971
  • Edited 12:17pm Jul 12, 2010 12:11pm | Edited 12:17pm
holding under the 45D TL
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  • #228,972
  • Jul 12, 2010 1:04pm Jul 12, 2010 1:04pm
Quoting Raza
...

OTHERWISE WE CAN SEE 128 TODAY OR TOMORROW...
Hello Raza

expecting 128 is not an easy to happen in a day or two, we have got many levels holding price of fall and v strong reversal levels, at the end there 14 pips zone will hold the price away of the 128 that may take us into week or two in long move before price decide again to touch the 128
this what I see

good luck bro and thank you for the Stochastic settings.
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  • #228,973
  • Jul 12, 2010 2:44pm Jul 12, 2010 2:44pm
Quoting 3 of a kind
wakka wakka ,,and the part is over !!!

ive seen many here struggle to get the grip here of this ranging pattern?
some here mention 128 in a day or 2..srry bud not this week ,maybe late next week,but most likely the week after next week,if not later

lemme help here...

gbp/jpy is in a ranging wedge pattern,,and we have to see 135 to complete it,and after that we WILL SEE A BREAKOUT SOUTH ,,not 128 but atleast double bottom in the coming days,but ill keep saying 123.80..(if not lower ) but def dont put my money on that yet.. 127 is more than...
Hai Gucc.
  • #228,974
  • Jul 12, 2010 3:00pm Jul 12, 2010 3:00pm
Can someone just ban him now and get it over with?

thanks.

Quoting ukdaytrader
Hai Gucc.
check out my blog: forexmademillionaire dot com
  • #228,975
  • Jul 12, 2010 3:26pm Jul 12, 2010 3:26pm
We might be seeing sterling as the star currency this week
  • #228,976
  • Jul 12, 2010 3:28pm Jul 12, 2010 3:28pm
Hey Gucc, So now I know where the Aland Islands are. How do you afford to move around so much? Better there than South Africa?
  • #228,977
  • Jul 12, 2010 3:47pm Jul 12, 2010 3:47pm
Quoting Scrat
you have been seeing 128 "today or tomorrow" for quite some time now... why don't you put it into your signature...

it's not gonna happen today. london will close in about one hour, and so far it looks like american session is smoking the usual crack... so i seriously doubt this pair will drop another 500 pips from here. today, that is. tomorrow, maybe.

i do agree however that bias is somehow bearish... and we might see a nice run down, because both u-j and g-u are retracing in the same direction.
...

I am patiently waiting that to happen 128xx.. to go long for a long term trade....

Opportunity could be Huge....

On the Flip side we can also Dip below to 112 - 101- 82..

But why we have not yet...after a Month worth of range... This range is similar to when it was at 197 - 195..remember

So just scalping in between...
Markets are not Random, they are designed!
  • #228,978
  • Jul 12, 2010 3:51pm Jul 12, 2010 3:51pm
Quoting maanawi
Hello Raza

expecting 128 is not an easy to happen in a day or two, we have got many levels holding price of fall and v strong reversal levels, at the end there 14 pips zone will hold the price away of the 128 that may take us into week or two in long move before price decide again to touch the 128
this what I see

good luck bro and thank you for the Stochastic settings.

You are welcome...
Markets are not Random, they are designed!
  • #228,979
  • Jul 12, 2010 3:59pm Jul 12, 2010 3:59pm
[quote=Raza;3867697]...

I am patiently waiting that to happen 128xx.. to go long for a long term trade....

Opportunity could be Huge....

On the Flip side we can also Dip below to 112 - 101- 82..

But why we have not yet...after a Month worth of range...

Agreed 4-5 weeks range is more than enough even for the big twats - we break this week the turtles are awaiting
  • #228,980
  • Jul 12, 2010 4:26pm Jul 12, 2010 4:26pm
Quoting 3 of a kind
hey bud...buckle up !!!! in a week or 2 then yeah... 128.60 will you see your bounce you might see,, but we going eventually lower ,,,

look at that aud/jpy ,,,good grosh.. last monthly candle an inside bar close ?? that mean BREAKOUT IS COMING !! ,,THEN DO YOU SEE THAT WEDGE WE RUNNING IN....watch a 1000 pip drop...63 area !!!

what about that H&S pattern on weekly on cad/jpy ??

lol for the ones who try picking here bottoms>>>
bears is not over yet ,,the drop is coming!!!!
Gucc..

You gotta think outside H&S ...

u/j RANGING FOR A WHILE ..DARE NOT TO GO SHORT..

E/J ...can be considered as double Bottom..on weekly... Looking Bullish..

A/J... I know what you are expecting...ABC .. to 63... Thats the only one I have a Bearish View..cause its AUDI..(said sell off long time ago)

C/J...in some crazy consolidation..on daily...

E/G.... looks like GBP will win the Battle here as well..

All in all Yen is starting to look WEAK.IMO...
Markets are not Random, they are designed!
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