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

  • #229,201
  • Jul 16, 2010 2:02am Jul 16, 2010 2:02am
One way of looking at it.. nGiven all lower TLs break...other wise UP we go in 5 Waves

Believe by then U.J should be at 0.85xx
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Markets are not Random, they are designed!
  • #229,202
  • Jul 16, 2010 2:16am Jul 16, 2010 2:16am
Quoting Raza
One way of looking at it.. nGiven all lower TLs break...other wise UP we go in 5 Waves

Believe by then U.J should be at 0.85xx
NIce chart, thanks mate.
  • #229,203
  • Jul 16, 2010 2:28am Jul 16, 2010 2:28am
other way..
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Markets are not Random, they are designed!
  • #229,204
  • Jul 16, 2010 2:45am Jul 16, 2010 2:45am
Quoting special0nefx
NIce chart, thanks mate.
Your TRIANGLE one is Good Too. The only problem is TRIANGLES are very RARE IN WAVE#2.. AND COMMON IN WAVE#4....?

Any other charts anyone?..
Markets are not Random, they are designed!
  • #229,205
  • Jul 16, 2010 2:52am Jul 16, 2010 2:52am
PA hugging onto the ascending yellow 88.6 fan. On the 4hr, seems contained by the standard yellow 38.3 fib.

From an FE perspective, price oscillating between the 76.4 and 50 - sort of - region.

I see a Guppy profile on a daily upwards suggesting a higher lows and higher highs, and breakout north.
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #229,206
  • Edited 3:36am Jul 16, 2010 2:53am | Edited 3:36am
As mentioned/expected, Frankfurt/London did nothing much with GY, keeping it in a 60 pip range, due to NY CPI #'s coming out in 2.5 hrs. GY attempted an enthusiastic rush towards the DPP about 134.8, stopped, and printed an unusual (for me) M5 PA pattern. I'd expected perhaps another run at 135.2, but the tops keep getting sold, and I'm guessing few are interested in buying given the dollar lost 2.1 percent against the euro this week, and 1.6 percent versus the yen.

Yen strength is getting close to 2010 highs again; if an 85 UJ materializes, GY should go a few hundred pips. Not sure of the timing for that, although it could be in the next few trading days. Wall St may not want to destroy this week of gains, and while FTSE is currently up, everyone is waiting on CPI, and I don't believe FTSE will head into a weekend without any selling. If US CPI is bad, a Friday equity selling day could ensue, giving further rise to the VIX, as everyone around the globe is more worried about the US future ... except for the US traders IMO! 134 looking to be strong support; still looking for 133.3 as a 1st TP on shorts.

It's interesting to note the large volume corresponding to the last 2 white BetterVolume Indi bars: the first one looks like selling pressure as GY hits R @ 135.5, and prints a 80 pip M30 bar. Bulls then seem to show up and also after a 80 pip down bar, seem to create enough buying to hold 134, although it just seems to require too much effort/volume: they're the largest bars over the past days, yet they're accomplishing nothing in net. Although sterling has been strong and somewhat desired, that trend appears to be chaning and seems to underline that yen strength and dollar weakness is driving the beast down.
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  • #229,207
  • Jul 16, 2010 2:57am Jul 16, 2010 2:57am
Quoting Raza
Your TRIANGLE one is Good Too. The only problem is TRIANGLES are very RARE IN WAVE#2.. AND COMMON IN WAVE#4....?

Any other charts anyone?..
yes, i consider as wave 4. Is c of wave B. Finish this wave C for finish wave 4.
Your 3 is my count 4. Then down for 5. cheer
  • #229,208
  • Jul 16, 2010 3:01am Jul 16, 2010 3:01am
Quoting special0nefx
yes, i consider as wave 4. Is c of wave B. Finish this wave C for finish wave 4.
Your 3 is my count 4. Then down for 5. cheer
Then whats gonna be the price at end of Wave#5??
Markets are not Random, they are designed!
  • #229,209
  • Jul 16, 2010 3:13am Jul 16, 2010 3:13am
Quoting Raza
Then whats gonna be the price at end of Wave#5??
Looking for 120 there. Will be near the bottom of 3. I count base on weekly chart. IMHO, cheerful
  • #229,210
  • Jul 16, 2010 3:31am Jul 16, 2010 3:31am
Interesting D1 bar printing today (so far). Although we've seemingly broken to the upside of the triangle, GY PA has a tendency to retest by bouncing off the bottom of the triangle top, which happens to be 133.3 and confirmed as daily S2 at actionforex.

The previous 2 days present a somewhat familiar hangman and frequently found GY & GU reversal pattern (among other pairs). FF members who've been around a while might remember Godfrey creating an indi that can be somewhat useful for this on smaller timeframes.

Will be interesting to see what type of bar and close we get today, and what it could tell us about where we're headed. (OK, I know, it's always "interesting!")
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  • #229,211
  • Jul 16, 2010 3:46am Jul 16, 2010 3:46am
Starting to look like a diamond bottom...
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  • #229,212
  • Edited 4:08am Jul 16, 2010 3:57am | Edited 4:08am
Quoting Beljevina
As mentioned/expected, Frankfurt/London did nothing much with GY, keeping it in a 60 pip range, due to NY CPI #'s coming out in 2.5 hrs. GY attempted an enthusiastic rush towards the DPP about 134.8, stopped, and printed an unusual (for me) M5 PA pattern. I'd expected perhaps another run at 135.2, but the tops.....
I agree but i see maybe not so far up like 134.52 or 134.70 and then BANG!! drop dead to 132.52 and then 129.52

that will be interesting too my dear friend Good morning everybody!
  • #229,213
  • Jul 16, 2010 4:33am Jul 16, 2010 4:33am
a little boom what a falling!
  • #229,214
  • Jul 16, 2010 4:57am Jul 16, 2010 4:57am
Problem with GJ as I stated few times earlier is:

UJ trend down
GU trend up

leaving GJ in a very difficult position.
As I see no end for the 2 mentioned trends in a short time GJ is not the currency pair to trade imho.....
Don't be a hero. Don't have an ego. Always question yourself
  • #229,215
  • Jul 16, 2010 4:58am Jul 16, 2010 4:58am
Quoting sailor68
Hi Geppy,

Nice analyse, i short dragon since 2 days, add, take profit and short again.
What i see : short since 135,30 (doji 4H) still keep my short because we are below the daily pivot, i will start to book some profit at the weekly and monthly pivot, area 133,50 (if we go there, also same area of the ascending TL), if it break this area, will keep some short to TP2 132,50 and TP3 131,60.

For this moment i'm more bear, i will change to Long in case if 136 wont hold (according to your scenario 1).First Lets see what happen on Daily resitance.

Tomorrow...
Right, this week have to be patient with Dragon, but first TP hit at 133,50, took more profit on area of weekly pivot, waiting for more rooms down with NY session, also japanese bank holiday on monday.....
Trade with the momentum
  • #229,216
  • Jul 16, 2010 4:59am Jul 16, 2010 4:59am
you are not crazy lol ,,,, Awesome Kourtny
Quoting kourtney
call me crazy but i think GBP/JPY will spike to 135.25 or 135.35 and then tank so far did the first deep of 150 pips...i see a correction of 100 pips and then will seriusly drop dead. i think same with the overbought dollar and GBP/usd

what do u guys think?
  • #229,217
  • Jul 16, 2010 6:30am Jul 16, 2010 6:30am
Quoting maanawi
Quote:
Originally Posted by Geppy...
I agree that the quality of this thread has gotten slightly better, but not nearly for two weeks... perhaps a few days. It only takes one trader posting garbage and completely over-posting to bring others out of the woodwork. In my opinion, that's what had happened.

Things seem to be calming down here and that's a nice change. As for me, I'll continue to post until it gets ugly again which I'm sure will happen. In the meantime I'll be transitioning most of my thought process to my blog which I had completely neglected and I'm starting over probably within the next week or two.

In other news... my 133.75 target was hit with ease and proved to be quite conservative. We're sitting now on the bottom portion of 4H trend-line support. I'll post my views, with chart, at the end of the trading day/week.
check out my blog: forexmademillionaire dot com
  • #229,218
  • Jul 16, 2010 6:38am Jul 16, 2010 6:38am
.. thanks Geppy & thanks Scrat
I understand now your point mate, I thought you mean now days not the past days


Quoting Geppy
I agree that the quality of this thread has gotten slightly better, but not nearly for two weeks... perhaps a few days....
  • #229,219
  • Jul 16, 2010 6:57am Jul 16, 2010 6:57am
If anyone feels my posts are rubbish .Feel free to PM me .
Thanks.
  • #229,220
  • Jul 16, 2010 6:59am Jul 16, 2010 6:59am
Quoting maanawi
you are not crazy lol ,,,, Awesome Kourtny
thank you amigo Manawi...was good week drop 150 took 100 on the retracement and then sold heavy for this drop

I see a retracement again to 134.52 before we resume downtrend this is around 150 pips up for correction

what do u think ?
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