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

  • #229,121
  • Jul 15, 2010 2:14am Jul 15, 2010 2:14am
Quoting Raza
Post your Chart for that Triangle....

Thanks...
, i maybe wrong, because you count also make sense. Is just i prefer for this triangle pattern.
Chart will be void once break the Orange A.
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  • #229,122
  • Jul 15, 2010 2:18am Jul 15, 2010 2:18am
Quoting grashid
...my hat to u sir...

p/s: that is why i kept telling they never learn
OK master
  • #229,123
  • Jul 15, 2010 2:21am Jul 15, 2010 2:21am
Quoting 5ysfx
OK master
sorry am not ur master.....am just a poor n stupid retail trader ...

ok guys happy riding and good luck

be back in us session...

g
  • #229,124
  • Jul 15, 2010 2:24am Jul 15, 2010 2:24am
Frustrating slow progress on the beast and my expected drop: it's because of a bull bear battle. (Frankfurt seemed to exert next to no effort on moving it - I wonder why?) The last complete M15 candle looks promising for a fall, but it's when you look at the M5, you can see buying volume trying to drive GJ up, then immediately followed by sellers, and thus a downbar, pretty much nullifying the up move.

Am also posting to make sure minds are kept open, in case 134.3 somehow holds, and we instead go up. Not sure if that BOJ news conference will pose any threat here. The more time that passes, and 134.3 remains unbroken, the lesser our chance of breaking it to the downside. Could also be purposeful delaying of a move, but who knows for what reason. Although fibwise we're acting somewhat as expect, we might see a higher M15 high. And, if the TL breaks, I will have more doubt on shorting.
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  • #229,125
  • Jul 15, 2010 2:31am Jul 15, 2010 2:31am
Quoting grashid
come on boss.....anyway thanks for your insight
Here we are.. UY crossing the Border
  • #229,126
  • Jul 15, 2010 2:41am Jul 15, 2010 2:41am
Quoting Beljevina
Could also be purposeful delaying of a move, but who knows for what reason.
today is the 15th, Tokyo and London fix, which is stalling the drop. after 16:00 GMT GBP import accounts will be settled, then we can kaboom.
  • #229,127
  • Jul 15, 2010 2:46am Jul 15, 2010 2:46am
OK, Murphy's Law at work here. I hit 'post' and GY M5 drops a quick 20 pips in a bar, but still with a thump down to 134.309 support, now 134.24. Looks like it's still seeing bull interest, and reaching a tad up, at least. Regardless, am posting because it's solely UJ that got us here - it's broken the support line, but I'm waiting for M15 confirmation. Note that sterling and yen are our strongest currencies, hence, GU rising, and a bull/bull battle (within the GJ pair). This could take a bit.
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  • #229,128
  • Jul 15, 2010 2:53am Jul 15, 2010 2:53am
Quoting Beljevina
OK, Murphy's Law at work here. I hit 'post' and GY M5 drops a quick 20 pips in a bar....
lol, I had same thought right after I posted.

the utl of the prior consolidation triangle is acting as current support. that's the line I'm watching atm.
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  • #229,129
  • Jul 15, 2010 2:53am Jul 15, 2010 2:53am
gu is is moving up nicely ....wonder when gy is going to start it's move up
  • #229,130
  • Edited 3:24am Jul 15, 2010 3:12am | Edited 3:24am
Quoting petehnm
gu is is moving up nicely ....wonder when gy is going to start it's move up
as long as UJ is dropping we're not going up, (unless 88 holds as support, then we get a small rise, but 134.76 is containing price for the moment topside).

also, look where GU price is sitting. red line is the utl of the monthly bear channel. personally, I'd be careful with longs atm.

GY will probably drop before it rises. But given all the rallies lately on bad news, if US PPI and unemployment data is bad, we may just go up. (half kidding)


.
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  • #229,131
  • Jul 15, 2010 3:14am Jul 15, 2010 3:14am
Quoting petehnm
gu is is moving up nicely ....wonder when gy is going to start it's move up
lets see PA at these levels , magnet, reverse or jump above.
15315 ~~
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  • #229,132
  • Jul 15, 2010 3:25am Jul 15, 2010 3:25am
Thanks I'll keep an eye on it...I'm swaying toward the sell side myself...we'll see


Quoting Fudomyo
as long as UJ is dropping we're not going up, (unless 88 holds as support, then we get a small rise, but 134.76 is containing price for the moment topside).

also, look where GU price is sitting. red line is the utl of the monthly bear channel. personally, I'd be careful with longs atm.

GY will probably drop before it rises. But given all the rallies lately on bad news, if US PPI and unemployment data is bad, we may just go up. (half kidding)


.
  • #229,133
  • Jul 15, 2010 3:38am Jul 15, 2010 3:38am
If this GY upmove is genuine, we may currently be at an eventual 50% fib level, heading at least for the DPP about 135, while 135.2 would make for a standard issue GY move, in terms of the numbers of pips traveled.
  • #229,134
  • Jul 15, 2010 3:46am Jul 15, 2010 3:46am
Ok everybody sell everything you've got right now. This is going down more than 1000 pips from this point
135.1 And it will only take a few days
  • #229,135
  • Jul 15, 2010 3:52am Jul 15, 2010 3:52am
i did a brilliant hedge closed my longs at 135 and took 2 more shorts at 135.07...will let it run as much as posible... first target 132.52 second 129.52....
  • #229,136
  • Edited 4:22am Jul 15, 2010 4:07am | Edited 4:22am
Quoting petehnm
Thanks I'll keep an eye on it...I'm swaying toward the sell side myself...we'll see
the current market conditions are requiring a lot of patience.

honestly, even though there are many indications we could drop, GU has been on a mission lately.

one thing to consider about fix days is that sometimes there is an excess dollar demand. USDJPY will continue to climb slightly after the Tokyo fix and GU after London fix. if this works out to be the case, after the importers settle their accounts, price may be allowed to drop.

But something else that's important to be aware of is that we just crossed the monthly Bear utl on the daily chart (which has not been breached since August 2008).

If the GU rally is genuine, then we could see a lot more topside once we get a close above the monthly TL and daily 200ema. 15700 area or higher.

The GY box range since May has been an indication that something big is potentially on the horizon.


.
  • #229,137
  • Jul 15, 2010 4:11am Jul 15, 2010 4:11am
Quoting Raza
Looking at the Wave Count from 131.40 .. looks like we had our wave#1 till 135.79...right now consolidating WAVE#2...and wave#3 UP should start now...

Just an observation.... So Bias is UP...IMO...

5 min..15 min..1 HR....Still a Bull Flag....

I am expecting 136.80- 137.36 to get hit before 133.40...

Max down price for now 134.12...Of course as usual could be wrong...



GU if 1.54 gets taken out Then 1.58
Markets are not Random, they are designed!
  • #229,138
  • Jul 15, 2010 4:12am Jul 15, 2010 4:12am
Quoting Fudomyo
the current market conditions are requiring a lot of patience.

honestly, even though there are many indications we could drop, GU has been on a mission lately.

one thing to consider about fix days is that sometimes there is an excess dollar demand. USDJPY will continue to climb slightly after the Tokyo fix and GU after London fix. if this works out to be the case, after the importers settle their accounts, price may be allowed to drop....
YUP.. agree mate..

BIS has been noticed lately in EURUSD and GBPUSD.. it is all about cover and shifting the market..And, when they shuffling the cards.. we better stay in LINE... and wait on OUR turn..

  • #229,139
  • Jul 15, 2010 4:18am Jul 15, 2010 4:18am
Quoting Beljevina
If this GY upmove is genuine, we may currently be at an eventual 50% fib level, heading at least for the DPP about 135, while 135.2 would make for a standard issue GY move, in terms of the numbers of pips traveled.
Wow, damn I got lucky. See the right hand red fibs, also hitting the 161.6 (blue) fibs of a previous M5 fibs plot. Boy, fibs can work great if plotted properly. And no, I didn't take any (damn!) long trade. Arghhh!

Looks done for now with the shooting star on M15, hitting/hugging the TL from the 18hr ago 135.5 high; VSA seems to show sellers here too. UJ back above the 88 support and it could go either way as of now. Sterling's weakened, but yens have weakened more, giving up the strongest currency title to ... the euro!!!! (and CHF is about the same strength)
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  • #229,140
  • Jul 15, 2010 4:26am Jul 15, 2010 4:26am
Quoting Piters
we better stay in LINE... and wait on OUR turn..

lol... as always.
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