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

  • #232,361
  • Oct 1, 2010 4:58am Oct 1, 2010 4:58am
Awesome view Bel and possible chance..

Quoting Beljevina
That was one hell of a shake-out yesterday. Too bad it run many stops, incl. my own, but have thankfully made it back today, as I'd been buying on the way down.

Cable moving quickly and has reach within 50 pips of Thursday's 1.592 high. Was going to add that if it can get through 1.585 resistance (also weekly 38.2% support) and reach for the 23% 1.5863 fib, it's bullishness is confirmed, and we stand heading for new highs. That LTL that Geppy, some others and I pointed out has done it's job; a 2-day graph would show a lovely rejection.

Word was...
  • #232,362
  • Oct 1, 2010 7:09am Oct 1, 2010 7:09am
TLs on weekly taken from Red candles like some one teach me here , seem to be good to hold price on bears side
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  • #232,363
  • Oct 1, 2010 9:50am Oct 1, 2010 9:50am
im holding into short not to think about long before this trend line broke
maybe we reach london low, not so sure
good luck
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  • #232,364
  • Oct 1, 2010 10:02am Oct 1, 2010 10:02am
Quoting Beljevina
That was one hell of a shake-out yesterday. Too bad it run many stops, incl. my own,
Yep, I think we'll pop up to the high 1.58s a few times and eventually consolidate there... maybe drop down a bit until we build enough steam to bust through the 1.5900 zone for good.

I expect it to play out much like price action did when we were toying with 1.5700. So... I'll also expect a lot of people starting to talk bearish when we're hanging out up there, wicks going above 1.59 only to get rejected and the bearish bandwagoners yelling "the sky is falling". That's when I'll definitely know we're about to break higher and I'll start buying more.

Right now, 1.5800 seems to be holding quite well as support and a daily/weekly close above this level should speak volumes for the trend. I'm adding a bit of longs here but will probably clear the slate slightly before 1.5900 and start building a new position below 1.5900 and above 1.5850 when I start seeing 1.5850 providing support like 1.5800 is doing now.

Longer term, I really think we could be going to the high 1.60s and perhaps challenging 1.7000 but beyond that I feel is too far to be projecting.
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  • #232,365
  • Oct 2, 2010 3:13am Oct 2, 2010 3:13am
Quoting Geppy
Longer term, I really think we could be going to the high 1.60s and perhaps challenging 1.7000 but beyond that I feel is too far to be projecting.
Not getting too excited, but the descending magenta TL can be made to 'fit' that hypothesis, and it certainly coincides with the 76.4 FE.

Still holding two longs with TPs in the 1.5950 level, with final TPs set in the 1.64 camp. I do have reservations about PA around the 1.62 region - standard 76.4 fib/ascending 76.4 fan.

Friday saw us left with a crappy weekly candle.
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #232,366
  • Oct 2, 2010 9:05am Oct 2, 2010 9:05am
possible short on gbpjpy.Might be wrong but i will surely sell
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  • #232,367
  • Oct 2, 2010 11:09am Oct 2, 2010 11:09am
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some levels of interest




Red
  • #232,368
  • Oct 2, 2010 12:49pm Oct 2, 2010 12:49pm
There is another way to look at this pair.

It is basically a synthetic pair which results from the activity on GU and UJ.

The pair most often is primarily follows one or the other of those pairs, and which seems to depend on which is moving most actively.

Looking at present at GU and UJ, GU seems to be in a dip but looks as though it is going to head up very soon with a near term target of 1.5900 and up from there while UJ is close to its historical low at 83.20 presently and very likely to encounter BOJ intervention soon and be kicked up to 85 or higher (that is not to say that it will stay there or higher).

Based on this approach to evaluating the pair, the direction would be up.
  • #232,369
  • Oct 2, 2010 8:47pm Oct 2, 2010 8:47pm
Quoting maanawi
here is my analysis
Good luck

* Attached my price action map too
http://www.forexfactory.com/attachme...8&d=1284632193
http://www.forexfactory.com/attachme...2&d=1284632477

As Grashid said ((chart never lie)) , even BOJ cant break its rules
  • #232,370
  • Oct 2, 2010 8:53pm Oct 2, 2010 8:53pm
I hope this view make it easier, any comments?
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  • #232,371
  • Oct 2, 2010 9:01pm Oct 2, 2010 9:01pm
Quoting maanawi
I hope this view make it easier, any comments?
If we in long scenario maybe its max to the weekly TL , but to keep eye on the weekly trend and watch the price act.
  • #232,372
  • Edited 11:54pm Oct 2, 2010 11:40pm | Edited 11:54pm
4 daily candles + 1 weekly candle+ 7 4H canles failed to close above 15853 VS 2 4H candles closed above = big chance to see more bearish while 15853 area hold
if bulls break 15853 we may see bearish retest for the level and from there take long with tight sl
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  • #232,373
  • Oct 3, 2010 3:21am Oct 3, 2010 3:21am
Quoting budak baru
Great view raza.This is mine...
gbpusd bounce at daily channel.expecting up move this week.target upper channel at 1.6/1.61
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Gold Expedition Return This Year: -15.9%
  • #232,374
  • Oct 3, 2010 3:25am Oct 3, 2010 3:25am
Quoting budak baru
hi guys,looks like retracement to weekly 5sma is completed.and my pending order at 132.26 trigger.so same as before my target is 136 at upper daily channel.happy trading n good luck...
bullish harami at gbpjpy daily.expecting going up.gbpusd could drive this beast up too.happy weekend guys...
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Gold Expedition Return This Year: -15.9%
  • #232,375
  • Oct 3, 2010 7:35am Oct 3, 2010 7:35am
Quoting maanawi
Yes never lie! , im so upset i knew about this big fall for GU but cant talk it out or benifit it as every other math setup point to 195 / 16
but u always forgot....remember this ?

http://forex-grashid.blogspot.com/20...gust-2010.html

good luck

g
  • #232,376
  • Oct 3, 2010 8:02am Oct 3, 2010 8:02am
Quoting grashid
but u always forgot....remember this ?

http://forex-grashid.blogspot.com/20...gust-2010.html

good luck

g
I swear I view it last week and today i was thinking about it too and the option of hittin the HTL on your chart
  • #232,377
  • Oct 3, 2010 3:14pm Oct 3, 2010 3:14pm
intraday any chance to UP 132.400 - 133.200
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  • #232,378
  • Oct 3, 2010 8:54pm Oct 3, 2010 8:54pm
Quoting GBPJPYstyle
intraday any chance to UP 132.400 - 133.200
yep, up we go to 132.40 - right on your target! Nice one.
  • #232,379
  • Edited Oct 4, 2010 1:19am Oct 3, 2010 8:55pm | Edited Oct 4, 2010 1:19am
Hmm ... Dutch banks (plural) demand, Singapore order gone through ... Beljevina order gone through ... Let see where this goes ... will take a smidge off here and there, because of the fake out potential, and I hate getting nothing, so a little something's good.

EDIT: Got a miserly 15 pips on a portion of my entry, rest stopped out. Wonder if the pros will be buying more; chances should be pretty good BoJ will defend that 83.15 like they did late Friday night prior to close of fx markets.
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  • #232,380
  • Oct 4, 2010 12:47am Oct 4, 2010 12:47am
Are we witnessing a lower trend line bounce?
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