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

  • #230,701
  • Aug 17, 2010 4:04am Aug 17, 2010 4:04am
Quoting grashid
...

EY n GY

was up G, happy breakfast later on bro . i've seen your chart about the 1.5780, yup no doubt that it might touched there ...but still 1.5700 seems like a strong resistance for now ( i think a couple test on that particular area). honestly speaking, i rarely used trendline...but as a replacement for support and resistance my MA act as one...1.5700 is where my 3MA (3 types of periods) currently sitting....break that we might see more than 1.5780. just my opinion...but i always can make a mistake...let see what NY could do.....
  • #230,702
  • Edited 6:10am Aug 17, 2010 4:33am | Edited 6:10am
Weekly Gann,10 - 132.70
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  • #230,703
  • Aug 17, 2010 7:06am Aug 17, 2010 7:06am
seems that 133.15 is one hell of a strong support ....if i counted right there's 10 tries...to pierce these level....
  • #230,704
  • Aug 17, 2010 7:11am Aug 17, 2010 7:11am
not sure
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  • #230,705
  • Aug 17, 2010 7:14am Aug 17, 2010 7:14am
Quoting Beljevina
Stupid news spike took me out @ BE. And of course returned to where it was, implying unrealized profit. The spike down to the 50% fib was bought. Just need to break that silly downtrend line. Buying, but BE stops.

I can see some further silliness down to 1.553, and then as part of a bullish NY session, we clear 1.57 - just a guess.
wow, nice chart.
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  • #230,706
  • Aug 17, 2010 7:15am Aug 17, 2010 7:15am
Quoting naatha
not sure
me neither.
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  • #230,707
  • Aug 17, 2010 7:17am Aug 17, 2010 7:17am
Quoting naatha
not sure
by the way, what's that green and red line indicator you have on your chart?
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  • #230,708
  • Aug 17, 2010 7:18am Aug 17, 2010 7:18am
Quoting ukdaytrader
....Difficult market right now.
heh, u can say that again.
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  • #230,709
  • Aug 17, 2010 7:21am Aug 17, 2010 7:21am
Quoting vosterfxandy
by the way, what's that green and red line indicator you have on your chart?
or HMA34
  • #230,710
  • Aug 17, 2010 8:28am Aug 17, 2010 8:28am
Quoting Beljevina
I can see some further silliness down to 1.553, and then as part of a bullish NY session, we clear 1.57 - just a guess.
A few hours of shut-eye, and little has changed.

Even if one believes in longing cable, not many others currently are. Lots of word around about sellers & rallies are getting sold.

We may have a bullish hammer forming here and will need to see if 1.5562 will hold; timing is crucial and as Londoners pack up, and if the NY equities tear continues, we should head up. For the last few sessions, it would appear that London traders are the prime sellers of sterling - go figure, the Americans being the ones buying up everything in sight ... !

Given strongest to weakest currencies, GBPCAD was a wonderful trade for the last few hours - gotta bump up that chart priority on my screen real estate.

Let's see if Ashraf's (usually correct) expectations materialize over the next few days; that should allow sterling to rally.

August 17, 2010 08:26 ET: THE BULLISH HAMMER CANDLE I referred to in yesterdays IMT 3 hrs before the NY close may be materializing in both the S&P500 and the Dow-30. Such a pattern is usually bullish, which means we can see brief run-up into the next 2-3 days, with the 1095 and 10400 objectives in S&P500 and Dow-30 respectively. This would support some buying in EURUSD towards 1.2930s. Softer than expected UK INFLATION data has weighed on GBP all day as the July CORE CPI grew by 2.6% from 3.1%, its slowest pace since Nov 2009. Any further gains from improved risk appetite face pressure at $1.5730s. EURUSD eyes an extensions of gains towards $1.2930s. EURCHF eyes TL resistance at 1.3450s, with subsequent pressure weighing at 1.3570. US Indus production due at 13:15 GMT exp +0.5% from +0.1%, which would be an added boost for equities and EURUSD to chart its $1.2930 route.

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  • #230,711
  • Edited 9:26am Aug 17, 2010 9:10am | Edited 9:26am
Quoting Beljevina
We may have a bullish hammer forming here and will need to see if 1.5562 will hold; timing is crucial and as Londoners pack up, and if the NY equities tear continues, we should head up.
OK, trying a long right off the 23% fib at 1.5576.

EDIT: No sooner am I in and up, Ashraf twitters shorting is the better option here; chance are he's right. GY certainly not looking good.
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  • #230,712
  • Aug 17, 2010 9:20am Aug 17, 2010 9:20am
Naatha, how does this line up with your wave counts? Thanks for the many charts you share.
http://www.actionforex.com/trading-s...0100817120253/
  • #230,713
  • Edited 10:11am Aug 17, 2010 9:34am | Edited 10:11am
my „countings“ may be differ a little
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  • #230,714
  • Aug 17, 2010 12:48pm Aug 17, 2010 12:48pm
A very quick pop down to shakeout, and confirm lots of waiting buyers. Hope it don't let us down. Pa looking a little more 'resolved' with that dip down test.

Weird that US equities have been melting-up today, and yet sterling has almost been behaving inversely; now that equities look to be giving back a bit in this last hour, sterling's making the trip up, and probably giving a close right on that upper TL.

Not really a fan of the PA lately, 50 pips here, 30 pips there, and not confirming or saying much. S&P & DOW, and next session FTSE could head further up - let's see if the yens travel as well.

Bought some more at that bottom support; am definitely now operating in BE mode. (OK, well 98% likely) GL to all.
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  • #230,715
  • Aug 17, 2010 2:33pm Aug 17, 2010 2:33pm
Expecting 132.50 level before any upside move...
  • #230,716
  • Aug 17, 2010 2:34pm Aug 17, 2010 2:34pm
hi bel....if you don't mind...i have a question for you....do you hedge your position...thanks in advance for answering the question...
  • #230,717
  • Aug 17, 2010 2:43pm Aug 17, 2010 2:43pm
Quoting Mr.Elliott
hi bel....if you don't mind...i have a question for you....do you hedge your position...thanks in advance for answering the question...
No. It eventually gets too complicated for me, and, if I'm feeling fairly OK on price direction, I'll let it run, or, if needed, take me out at as close to BE as possible, and get in at a better price.
  • #230,718
  • Aug 17, 2010 2:51pm Aug 17, 2010 2:51pm
Quoting Beljevina
No. It eventually gets too complicated for me, and, if I'm feeling fairly OK on price direction, I'll let it run, or, if needed, take me out at as close to BE as possible, and get in at a better price.
just asking...seems that you are more on fundies...rather than a technical (if i'm not mistaken)...coz one of my friends are trading more on fundies...did say that fundies trader don't use a stop loss...(as what he says)....but thanks anyway....and love your comment in the thread and always follow them....

good luck...and green pips....
  • #230,719
  • Aug 17, 2010 4:59pm Aug 17, 2010 4:59pm
Nothing new. The same story. Buy at support, sell at resistance.
  • #230,720
  • Aug 17, 2010 7:00pm Aug 17, 2010 7:00pm
So who was Buying POUND.?

Both G/U and G/J ... Last Support breached...
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