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

Its close now get ready for long

Anyone pick up a long here?

Previous S/R zone and also 50% fib of the last down move.

Entered short with 40 pip stop.

Out with +40....

any ideas on direction from here?

Trade the break or play the bounce with SL in place............

thanks

gj is reaching my target to 135xx guys

If it goes up there i'm gonna short it. Seeing some weak volume these last few days on the xxxUSD upthrusts

yaa,even i am ready brother....
possibly further to 135.03 resistance next.




HAPPY TRADING

do we think it will make it to 135.00?

im still holding longs but am worried :S

hi everyone, i wont be staying here for long, just thought i might share my long term view on how things might go for this year's end and next year. hoping everyone is doing well and trading safely.

as u guys know, i've stopped trading daily and went ahead for longer term swings, simply don't have that much time on my hands anymore, nor is the market as appealing as it used to be back at the start of this downtrend.


------------------------- GJ - UJ - Cable...
i believe we are nearing the end of the massive bear that started back in summer 2007 and summer 2008 and summer 2009. we all know that things in the stock market and forex come in threes (3). so three years of downfall with the latest (starting summer 2009) being the lousiest and the longest (taking 3x the time of the other 2).

anyway, i believe we are reaching the end of wave 5 down on the monthly chart. and things should start to reverse next month, and take a better shape next year for a correction. no, i'm not a wave expert, but this is per my own observation of GJ's price action and chart patterns. the slopes of wave 1 down and 3 down were pretty sharp with wave 3 being the strongest. but the pattern eases up on wave 5 down not taking out wave 3's low. i've seen that pattern many times on lower TFs and i believe GJ always acts the same on all TFs (most of the time, as i have observed). now whether you consider what i call wave 5 down a correction or whatever, it's up to you, but it's the pattern i'm talking about.

right now, the current monthly candle is breaching an upper TL of a downwards channel of the wave, and price should climb to weekly 50ema. if that's breached and price closes above monthly Gann we're talking monthly 50ema next at around 155-160 by summer 2011. the 130 area is critical, price never historically traded below that point (monthly). it touched there back in 1995 and we never got a good 3 candles below that area recently, price just going up and down on that level. i believe reversal starts from this point. Take a good look at monthly UJ, the 80$ area is holding strong historically and currently. if it keeps up then UJ's weekly 50ema is next, and if that's breached reversal is on the way.

ok now, when i say reversal, i don't mean a steady long uptrend for the next 3 years, but it means that the downtrend should go a correction, this correction should keep on going till the end of 2012. i predict price range to be 140-160 levels (give or take) during that time, then light will be shed on the new trend, but i doubt its going to be as clear and smooth as you guys think it will. swing trades will be my ultimate preference. i don't believe we'll have massive daily moves after the new trend is established, take the period between 2001 and 2006 as an example.

Cable doesn't look very clear to me, but charts and CCI30 are indicating strength, with the USD Index gaining strength and the Pound gaining strength, price should start to range on the longer run, i believe it will trade between 1.55-1.70 for the next 2 years as well.

GJ: up to 160 then range.
UJ: up to 95-100 then range
Cable: Range between 1.55-1.7


-------------------------Gold and the USD Index
i believe the US Dollar Index should undergo a good move upwards since it has touched a symmetrical triangle's lower TL last month, and should start going up from there, and sit at a critical point in summer next year. where? i don't know... but it doesn't look like it's going to go down from here, the symmetrical triangle pattern indicates either a reversal or a continuation of a longer term trend, and if the upper TL is breached then all you guys should bet on the dollar, other wise, oh god, crapper again.

Gold bullion is THE issue at the moment, reaching crazy, and i mean CRAZY all time highs. this was all probably due to all the CRAZY money printing by most world central banks in general and the US in Particular during the past 6-9 years (but is it??). blame it on the bush administration if you will, but i don't think this is just as simple as we think. trust me, this wasn't the first time the dollar was heavily printed like this, nor is it backed up by gold. i'd say gold prices will Drop dramatically from this point on (by the will that be) with an initial target of 1000$ per ounce, and 700-800 as a next target, prices should start to range between 700 and 1000 afterwords. CCI30 is forming a really nice downtrend on the monthly chart with 3 tops, draw a line on those tops and we're touching it again now on the third price move up. we're forming a nice pinbar on the monthly chart, if this month closes like that, i'd say reversal starts here. candlestick patterns are pretty powerful on gold's charts. yea, i'm against anyone buying gold now. back in 2008 i was going crazy making calls to people i know to BUY the crap out of gold, but now it's time to sell and collect profits good work for those who took the advice by action and better luck for those who didn't give a monkey's ass about my calls

and just so to say, if gold prices don't go down from here i wouldn't be surprised but i'd be confused. it's true that world currencies were printed like crazy, but NONE of them is backed up by gold, so please dont find it surprising that prices drop from here. and NO i'm not saying they should drop like Oil prices did, not back to the 200$/Ounce levels, but they should drop pretty well, i'd say it will lose 30-50% of its current value yea call me crazy. i WOULD however, invest bigtime in gold if it reaches the 700$ level, real gold, not broker gold, lol.


good luck everyone, and hope u guys have had a great year. see you again in summer 2011

Quoting lilmoe

Disliked

...and just so to say, if gold prices don't go down from here i wouldn't be surprised but i'd be confused. it's true that world currencies were printed like crazy, but NONE of them is backed up by gold, ...

Ignored

Interesting then that just about all governments all ready have and are buying more gold as a reserve rather than selling it.

Hi moe,

Lol, my thought exactly on geppy.
Been in buying mode already for couple months.
Looking at monthly line chart and finding interesting similarity with the zig zags we'be been forming for about a year. Look back in history (monthly) and see what happens after those zig zags. Smells like a huge reversal, lol.
Good to see you buddy. See you in few years.

hi lilmoe
good to see you and I like this statment very much

gothe first time the dollar was heavily printed like this, nor is it backed up by gold. i'd say gold prices will Drop dramatically from this point on (by the will that be) with an initial target of 1000$ per ounce, and 700-800 as a next target, prices should start to range between 700 and 1000 afterwords. CCI30 is forming a really nice downtrend on the monthly chart with 3 tops, draw a line on those tops and we're touching it again now on the third price move up. we're forming a nice pinbar on the monthly chart, if this month closes like that, i'd say reversal starts here. candlestick patterns are pretty powerful on gold's charts. yea, i'm against anyone buying gold now. back in 2008 i was going crazy making calls to people i know to BUY the crap out of gold, but now it's time to sell and collect profits http://cdn.forexfactory.com/images/s.../yim/happy.gif good work for those who took the advice by action http://cdn.forexfactory.com/images/s...im/winking.gif and better luck for those who didn't give a monkey's ass about my calls

GJ I favour buy on dip around 132 odd area EMA 150 support

hola......

Kaboom is going on

Looking for a descent retrace

M15:

Grash, I noticed you just put up a bullish GJ thing in your signature, what is your target, short term and long term.