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

  • #231,181
  • Aug 27, 2010 2:17am Aug 27, 2010 2:17am
Close short for +30.Will look to add longs based on the 4hr chart.
  • #231,182
  • Aug 27, 2010 2:18am Aug 27, 2010 2:18am
Here is the explanation to 112- 109...G/J

Some Fibs and Trendlines.

Both scenarios are here ... the best I can make out of it..

Trend followers and Brave counter trend Followers

Note even if it breaks the Upper trendline on Daily..There is a Multi Decade

one above it also.. you can get that upper trendline from Monthly Chart.
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Markets are not Random, they are designed!
  • #231,183
  • Aug 27, 2010 3:29am Aug 27, 2010 3:29am
I would post this in the Cable thread, but there's too much noise over there.
This is well worth a read of the comments.
http://www.forexlive.com/128074/all/...e-just-told-me

Just be ready, that's all.
  • #231,184
  • Edited 5:40am Aug 27, 2010 5:12am | Edited 5:40am
Quoting ukdaytrader
I would post this in the Cable thread, but there's too much noise over there.
This is well worth a read of the comments.
http://www.forexlive.com/128074/all/...e-just-told-me

Just be ready, that's all.
Thanks, I somehow missed that one. I was going to write something more conspiratory on this, but you're right: the comments over on the (fxlive) thread are relatively astute - lots of angles to look at this from, but suspicion, distrust and confusion reign the day on this and everything else IMHO. September and October are really concerning to me and what will go where is a huge unknown.

The term wolf market is quite appropriate; not sure of it's history or if it was being used in late 2008, but I feel we're headed towards that type of volatility. Wolf market: "The wolf market is characterized by a tight trading range, increased volatility, high stock correlations and quick reversals" In fx, too frequently this translate into your stops getting chewed out, only to return there in the next few hours; too many of these any you're losing more than you're making. So, bank early, bank often.

At the risk of upsetting the "its all in your chart" camp, nobody can with any accuracy predict exactly what will happen next. Sure we can all bear a few hundred pips, but which way the next thousand will go has rarely been more unsure. I'm being far more cautious and short-termed about all my trades, because you never know what will go 'bump' in someone's night.
  • #231,185
  • Edited 8:28am Aug 27, 2010 7:22am | Edited 8:28am
this move looks like a correction, the 4th or even the 2nd wave - may be.
I mean the high vol bar - sellers comes - little drop(the 5th microwave), then much higher vol bar & voila - bulls in play.
not sure

be careful & GL.
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  • #231,186
  • Aug 27, 2010 8:44am Aug 27, 2010 8:44am
Your 3rd chart volume is inconclusive IMO. The reason for the second vol spike may simply be as a result of news. Buyers and sellers scalping the range. It's been a very quiet day as lots of traders have been anticipating US GDP and Ben's speech.
  • #231,187
  • Aug 27, 2010 9:19am Aug 27, 2010 9:19am
Ben using his magic spell making gj make new high and make new low. No where land . Get whatever you got.
  • #231,188
  • Aug 27, 2010 9:24am Aug 27, 2010 9:24am
Quoting special0nefx
Ben using his magic spell making gj make new high and make new low. No where land . Get whatever you got.

May be positioning for next month ...
  • #231,189
  • Aug 27, 2010 9:32am Aug 27, 2010 9:32am
Dang.....my longs stopped out by 5 pips.....need to plan better next time.
  • #231,190
  • Aug 27, 2010 9:32am Aug 27, 2010 9:32am
Test of the broken res turned support.
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  • #231,191
  • Aug 27, 2010 9:32am Aug 27, 2010 9:32am
Quoting special0nefx
Ben using his magic spell making gj make new high and make new low. No where land . Get whatever you got.
he has no magic, just bull.

no pun intended.
  • #231,192
  • Aug 27, 2010 9:35am Aug 27, 2010 9:35am
Quoting honeybhi
May be positioning for next month ...
Could be. This month close will be important for next month. But today close will trigger for next week play. If today close below 131, next week 129.xx should be retest again. Else, i be looking for UP till Weekly and Month pivot there.
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  • #231,193
  • Aug 27, 2010 10:14am Aug 27, 2010 10:14am
Quoting maanawi
Hello Bhi
lol
well for me I will follow pipchick and my other side of opinion price could visit 130.30 or some pips 10 or 15 above and in this case the trend will be half broke nananana I will leave it and what happen happen other wise it will burn my head
still in range taking power from side to other ..
  • #231,194
  • Aug 27, 2010 10:49am Aug 27, 2010 10:49am
Quoting Raza
it is Possible ..1.38% ABC..( 15M chart...130.38)

raza man ..we "was" pretty much eur/usd bullish----naaaah dont consider that ... start thinking bearish to 1.220 then 1.19 ...

start selling 1.2790 upto 1.2810

1st 1.2350
2nd 1.220
3rd 1.1900
  • #231,195
  • Aug 27, 2010 10:55am Aug 27, 2010 10:55am
how confused ???

keep it simple

used aud/jpy as a guideline where the gbp/jpy will topp..

aud/jpy 78.56 --then start short the gbp/jpy ..

not to much science ! i dont think so

aud/jpy ----low 60's by Q4
gbp/jpy ---below 118 to 114 by Q4

(if you sell aud/jpy at 78.50 , IT WILL BE THE LAST HIGH OF THE YEAR AND YOU WILL SEE LOW 60'S END OF Q4/Q1 .. )
  • #231,196
  • Aug 27, 2010 11:06am Aug 27, 2010 11:06am
Quoting honeybhi
4hr is sleeping .Once its awake we fly...
4hr has kicked in.

1hr chart below shows the trendline broken .

Longs in play imo.
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  • #231,197
  • Aug 27, 2010 11:22am Aug 27, 2010 11:22am
Quoting ukdaytrader
Your 3rd chart volume is inconclusive IMO. The reason for the second vol spike may simply be as a result of news. Buyers and sellers scalping the range. It's been a very quiet day as lots of traders have been anticipating US GDP and Ben's speech.
- - -
Thank you, bro. Now I see it.
http://www.forexfactory.com/showpost...stcount=231195
  • #231,198
  • Aug 27, 2010 11:27am Aug 27, 2010 11:27am
i was expecting a deeper correction but it didn't happen.

looks like weekly resistance was broken (red lines), so price should be heading up to 134.20/135.60 (monthly resistance, green lines).
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Nihil Sine Deo.
  • #231,199
  • Edited 11:44am Aug 27, 2010 11:30am | Edited 11:44am
Quoting Scrat
i was expecting a deeper correction but it didn't happen.

looks like weekly resistance was broken (red lines), so price should be heading up to 134.20/135.60 (monthly resistance, green lines).

Why so many red lines bro ?All red lines broken, is it a trend change ?? I got 135.76 target FE161 in the chart posted above .
  • #231,200
  • Aug 27, 2010 11:38am Aug 27, 2010 11:38am
First target reached.FE 61.8.Taking partial profit here.

See you all next week.Have a great weekend all.
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