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

  • #229,961
  • Jul 30, 2010 2:52am Jul 30, 2010 2:52am
Quoting Scrat
u-j just made a new yearly low... i don't know about buying the dips
yup agreed.
Thank You
  • #229,962
  • Jul 30, 2010 3:03am Jul 30, 2010 3:03am
any buying should be mindful of 135.6 level. Previously provided resistance area.
Thank You
  • #229,963
  • Jul 30, 2010 3:09am Jul 30, 2010 3:09am
Quoting Scrat
u-j just made a new yearly low... i don't know about buying the dips
g-j haven't new yearly low yet
  • #229,964
  • Jul 30, 2010 3:16am Jul 30, 2010 3:16am
Nearly there. Dollar buyers need to be brave now.

Notice also how DX has ben closely correlated with UCh lately.
I'll be a Dollar bull very soon.....

GY shorts need to beware IMO. Just a feeling we could see a considerable, (and surprising), move towards resistance today. I have some long orders stacked at intervals if we do. I still think we need to see 133, but not today.
  • #229,965
  • Jul 30, 2010 4:26am Jul 30, 2010 4:26am
m15 have bull divergence what i saw now...
  • #229,966
  • Jul 30, 2010 4:32am Jul 30, 2010 4:32am
Quoting ukdaytrader

GY shorts need to beware IMO. Just a feeling we could see a considerable, (and surprising), move towards resistance today. I have some long orders stacked at intervals if we do. I still think we need to see 133, but not today.
No options expiry today as far as I can see but it is month end so there could be some profit taking going on. Having said that, UJ has already broken the low of the month and no sign of BOJ intervention (yet!) and GU keeps finding dip buyers.

I have closed my GJ shorts, probably too soon but I'm wary of some sharp moves today.
  • #229,967
  • Jul 30, 2010 4:34am Jul 30, 2010 4:34am
  • #229,968
  • Jul 30, 2010 5:13am Jul 30, 2010 5:13am
Quoting wormboy
any buying should be mindful of 135.6 level. Previously provided resistance area.
Hi WB,

still in short on Dragon (0.4) look at 134 just before WP.
after that flat, looking at NY session for the direction.
Trade with the momentum
  • #229,969
  • Jul 30, 2010 5:27am Jul 30, 2010 5:27am
Quoting sailor68
Hi WB,

still in short on Dragon (0.4) look at 134 just before WP.
after that flat, looking at NY session for the direction.
hi sailor,

nicely done bro
getting closer to our target. One more nudge will likely get the job done.
Thank You
  • #229,970
  • Jul 30, 2010 5:30am Jul 30, 2010 5:30am
Quoting DMA Trader
We are all set now. Fasten your seatbelt.
beautiful picture btw
  • #229,971
  • Jul 30, 2010 5:46am Jul 30, 2010 5:46am
I am seeing a potential head and shoulders forming on the 4H. We would currently be finishing forming the neck.

Much could go wrong before the right shoulder forms, but it it does we are headed for 130.80 and a complete retrace of the recent move up.
  • #229,972
  • Jul 30, 2010 6:23am Jul 30, 2010 6:23am
Quoting moonchild
I am seeing a potential head and shoulders forming on the 4H. We would currently be finishing forming the neck.

Much could go wrong before the right shoulder forms, but it it does we are headed for 130.80 and a complete retrace of the recent move up.
I see the same and agree....still holding shorts from 137.33 and 136.35...good luck bro
  • #229,973
  • Jul 30, 2010 6:44am Jul 30, 2010 6:44am
Quoting moonchild
I am seeing a potential head and shoulders forming on the 4H. We would currently be finishing forming the neck.

Much could go wrong before the right shoulder forms, but it it does we are headed for 130.80 and a complete retrace of the recent move up.
I am not a wave counter, but this would fit a - b - c, starting at the head.
  • #229,974
  • Jul 30, 2010 7:45am Jul 30, 2010 7:45am
I would love it if guppy can fall that far, that way I will have to get a bigger boat to carry my pips to the bank.
  • #229,975
  • Jul 30, 2010 7:54am Jul 30, 2010 7:54am
Piter's UJ 85 approaching
Addicted to FX
  • #229,976
  • Jul 30, 2010 7:58am Jul 30, 2010 7:58am
From what I can see on my chart 133.4 is next target
Happy weekend guys
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 27 KB
Addicted to FX
  • #229,977
  • Jul 30, 2010 9:22am Jul 30, 2010 9:22am
Quoting wormboy
good morning

yesterday's low is now taken out leaving us a little less than 90 pips to the 133.9 target level. 134.50 could provide us with a bit of challenge as that previously was minor supp/res. In any case we'll be looking to lock 50%-75% of our gains to be on the safe side.

Have a great day everyone
too bad we missed the target by 30 pips. Was a nice try

Have a great weekend!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gy4d.gif Size: 20 KB
Click to Enlarge Name: gy4e.gif Size: 20 KB
Thank You
  • #229,978
  • Jul 30, 2010 9:35am Jul 30, 2010 9:35am
Quoting ukdaytrader
I'll be a Dollar bull very soon.....
Nice
  • #229,979
  • Jul 30, 2010 9:49am Jul 30, 2010 9:49am
now she tanks from 135.70 but that long from 134.25 was a fat one,
glad I was long
  • #229,980
  • Jul 30, 2010 9:52am Jul 30, 2010 9:52am
Quoting ukdaytrader
Nearly there. Dollar buyers need to be brave now.

Notice also how DX has ben closely correlated with UCh lately.
I'll be a Dollar bull very soon.....

GY shorts need to beware IMO. Just a feeling we could see a considerable, (and surprising), move towards resistance today. I have some long orders stacked at intervals if we do. I still think we need to see 133, but not today.
If i'm honest, I don't now think we'll see a resistance test, but market may leave a question or two for us to ponder over the weekend.

Short term bias is now long, but only because I have some long trades now open. (Average price 135.15). Will cut quick if we get a surprise to the downside.....
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