I drew some fib extensions of the previous move down to show some possible upside targets for the next 3 months or so.
Attached Image (click to enlarge)
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #233,401
- Jan 22, 2011 10:36am Jan 22, 2011 10:36am
- Joined May 2007 | Status: I Love EMAS! | 1,968 Posts
- #233,402
- Jan 22, 2011 10:39am Jan 22, 2011 10:39am
- Joined May 2007 | Status: I Love EMAS! | 1,968 Posts
- #233,403
- Jan 22, 2011 10:41am Jan 22, 2011 10:41am
- Joined May 2007 | Status: I Love EMAS! | 1,968 Posts
- #233,404
- Jan 22, 2011 10:44am Jan 22, 2011 10:44am
- Joined May 2007 | Status: I Love EMAS! | 1,968 Posts
- #233,406
- Jan 22, 2011 10:51am Jan 22, 2011 10:51am
Dont know about other pairs...anymore..
Charting platform..was bugged() as per the broker..so they deleted all my charts....F@@@ for the fourth time NOW...
loonie I hope they hike the interest rate...USD/CAD will go down deep ..and fast.. its been ranging since I was a KID!!!lol..
G/J DAILY LOOKS A BIT Over bought ...but some more range( hammer, dojis) will take care of that....
It looks like a sleeping Bull..or a RANGE-ing bull
i short it on friday -- stop above that high of daily ES --looks like a partial rise --possible wave 1 and 2 --- 3 about to start
- #233,407
- Jan 22, 2011 10:51am Jan 22, 2011 10:51am
- Joined May 2007 | Status: I Love EMAS! | 1,968 Posts
- #233,408
- Jan 22, 2011 1:44pm Jan 22, 2011 1:44pm
- Joined Jan 2009 | Status: bye FF | 8,806 Posts
MY OPINION NOT FINANCIAL ADVISE
- #233,409
- Edited Jan 23, 2011 12:44pm Jan 22, 2011 5:01pm | Edited Jan 23, 2011 12:44pm
this might gonna happen with euro when we hit 14350/4450 --- i have a example chart below,this is worst case snenario.. (( watch out for 13860) we might top right there and flip over to 1.23 ))
this monthly bearish engulf is still intact and we will only double top on monthly chart(if we dont top @ 13860) and we should go to as low as 1.23 -- if not lower -
btw this is the biggest monthly reversal engulfing candle in history in euro -- and it will play out - i can even go and said -no doubt about that --
and the same with GU ---- i post this chart in a other threat(but looks like i kill that threat aswell
) but lemme stay away from that group)
GU might go to 1.6450 then drop right back to 1.47--
i wonder wht will happen with GJ ? hmm 160 ?? def no ,,not this year -
S&P and DOW is runing on low fumes -- just a matter of time they will tip over
same scenario with DX--engulfing and only form wave1 and a deeper wave 2 -then up we go --
so if you missed the EURO bullish -dont bother to jump in --its not worth it -rather selling levels as to go and buying dips -- euro can at anytime top from 13860 upto 14450 ( ok i talk of swing trading) weekly and daily swings..
like wht everyone said semi/scary bullish on GJ --- and i will keep saying BEAR trend is not over yet
this monthly bearish engulf is still intact and we will only double top on monthly chart(if we dont top @ 13860) and we should go to as low as 1.23 -- if not lower -
btw this is the biggest monthly reversal engulfing candle in history in euro -- and it will play out - i can even go and said -no doubt about that --
and the same with GU ---- i post this chart in a other threat(but looks like i kill that threat aswell
) but lemme stay away from that group) GU might go to 1.6450 then drop right back to 1.47--
i wonder wht will happen with GJ ? hmm 160 ?? def no ,,not this year -
S&P and DOW is runing on low fumes -- just a matter of time they will tip over
same scenario with DX--engulfing and only form wave1 and a deeper wave 2 -then up we go --
so if you missed the EURO bullish -dont bother to jump in --its not worth it -rather selling levels as to go and buying dips -- euro can at anytime top from 13860 upto 14450 ( ok i talk of swing trading) weekly and daily swings..
like wht everyone said semi/scary bullish on GJ --- and i will keep saying BEAR trend is not over yet
- #233,411
- Jan 22, 2011 10:08pm Jan 22, 2011 10:08pm
- Joined Aug 2008 | Status: Money never sleeps | 5,878 Posts
Markets are not Random, they are designed!
- #233,414
- Jan 23, 2011 6:17am Jan 23, 2011 6:17am
- Joined Aug 2007 | Status: Newbie | 1,332 Posts
Gold Expedition Return This Year:
-16.6%
- #233,415
- Jan 23, 2011 6:20am Jan 23, 2011 6:20am
- Joined Aug 2007 | Status: Newbie | 1,332 Posts
Gold Expedition Return This Year:
-16.6%
- #233,416
- Jan 23, 2011 6:34am Jan 23, 2011 6:34am
- Joined Aug 2007 | Status: Newbie | 1,332 Posts
Gold Expedition Return This Year:
-16.6%
- #233,417
- Edited 1:47pm Jan 23, 2011 7:56am | Edited 1:47pm
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
you "LMAO" in dec also for this chart
GU = 16450
btw, congrats on killing this thread.
- #233,418
- Jan 23, 2011 3:49pm Jan 23, 2011 3:49pm
- | Joined Jan 2009 | Status: independent mind | 1,104 Posts
- #233,419
- Jan 23, 2011 4:17pm Jan 23, 2011 4:17pm
My novice analysis is that this is the right shoulder of a bearish head and shoulders setup. If the 1.6058 remains top then I think it breaks below 1.5836 and continues lower. Anything over 163.10 would cancel this
- #233,420
- Jan 24, 2011 1:22am Jan 24, 2011 1:22am
That's as novice as the analysis of Kathy Lien (and mine one as well) - so that's not a novice approach at all
that H&S she mention is pretty much invalid as you can get -
2nd week close above 1.57 is extremely bullish - daily bull flag and a possibility of monthly morning star -- lots of odds agaisnt bear ? or not
next level of ress is 1.61 , above that ,then nothing until 1.6450
if you open monthly-then that was just a plain simple pullback and not even near of reversals -- if we did took out the prev low - then ye -differant story -
you will def get some sort of ressistance @ 1.61 ,but above that ,nothing until 1.64- where i think we might go --- 1.6450 -then prob down to 1.47/48 ---