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

  • #234,861
  • Apr 5, 2011 2:39pm Apr 5, 2011 2:39pm
Quoting FX-Petra
I will say that some retracement is bound to happen. I don't think rsi can equal 100!

Or.... It could sit still for a while and work off overbought readings.... hummmmm.
I agree 100 %

Under normal market conditions there should have been a retracement every now and then. We might see a small bounce ~140 ...
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  • #234,862
  • Apr 5, 2011 8:01pm Apr 5, 2011 8:01pm
Look chart on 1995 after tsunami on japan, may be will help, G7 force seller out from the market
  • #234,863
  • Apr 5, 2011 9:20pm Apr 5, 2011 9:20pm
Hey everyone, thought I'd post in a new thread.

99% of my trading has been EU, and I want to take a look at GJ. What better place than here right?

Here's a GJ H1 with a weekly profile. The first hour points to last week's value area high (value area is 70% of the histogram, which is a TPO profile). The nodes on the profile show price activity over time, TPO stands for time price opportunity. The more price spends at a level, the more prominent the node.

The circled area reinforces the significance of last week's value area high (VAH).

So maybe that would be a good place to look for a bounce. I would enter using VSA.

Next I want to post a longer term chart showing supply and demand.
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  • #234,864
  • Apr 5, 2011 9:27pm Apr 5, 2011 9:27pm
Here is a weekly supply level, there's another one 267 pips above the upper boundary.

I don't take my trades off of these I just like to trade to, from, and not into them.

Just want to point out again that I never trade this pair, I'm here to learn about it and would love some comments.
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  • #234,865
  • Edited 3:56am Apr 6, 2011 3:15am | Edited 3:56am
Quoting frankkn
Here is a weekly supply level, there's another one 267 pips above the upper boundary.

I don't take my trades off of these I just like to trade to, from, and not into them.

Just want to point out again that I never trade this pair, I'm here to learn about it and would love some comments.
Hey Frankkn, I'd posted something on this pair over in the UJ forum; the mid-139 region has been a huge source of bounces for this pair - I used to trade it extensively 2 years ago, and clearly remember the power of this region, and indeed we've got some good bounce again. For those that haven't done so yet, go 2 monitors wide on a daily chart, and put a line about 139.7.

EDIT: Oops, didn't realize there was sterling news. Nice gift to those that shorted ... 138.2 currently.
  • #234,866
  • Apr 6, 2011 3:55am Apr 6, 2011 3:55am
1st 137.35 need to be test a break below will test major resistance that turn support 135.50..let see
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MY OPINION NOT FINANCIAL ADVISE
  • #234,867
  • Apr 6, 2011 4:08am Apr 6, 2011 4:08am
waiting for some movement up to short it say 138.8
  • #234,868
  • Apr 6, 2011 4:13am Apr 6, 2011 4:13am
Quoting harigp
waiting for some movement up to short it say 138.8
Why man? My indi shows 145 tomorrow
  • #234,869
  • Apr 6, 2011 4:17am Apr 6, 2011 4:17am
may retrace to 135 area.let see.
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Gold Expedition Return This Year: -16.6%
  • #234,870
  • Apr 6, 2011 4:18am Apr 6, 2011 4:18am
Quoting Latin
Why man? My indi shows 145 tomorrow
What indi? Screenshot? 600 pips? I don't think even a preemptive BoE rate hike could get it that far; check 139.7 and the bounce potential it has.
  • #234,871
  • Apr 6, 2011 4:26am Apr 6, 2011 4:26am
Quoting latin
why man? My indi shows 145 tomorrow

that indi should be called holy grail if it happened.
MY OPINION NOT FINANCIAL ADVISE
  • #234,872
  • Apr 6, 2011 4:49am Apr 6, 2011 4:49am
I only ask peoples I only learn Hear is my view if you want
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  • #234,873
  • Apr 6, 2011 5:11am Apr 6, 2011 5:11am
GBPJPY H1 - Intraday - 6.07AM
South of H1 Channel we go down.
Otherwise more Up.
Use of Trailing stops 20/30 pips at a time
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  • #234,874
  • Apr 6, 2011 5:46am Apr 6, 2011 5:46am
But we need to trade with patience

Quoting PandoraBox
Technically GJ already break first resistance at 135.50. Sooner or later it will break 137 and 145.
  • #234,875
  • Apr 6, 2011 5:47am Apr 6, 2011 5:47am
We need to always know that the market is still very noisy

Quoting donfriday
139.25 MY TARGET...
  • #234,876
  • Apr 6, 2011 5:48am Apr 6, 2011 5:48am
You have been a sage of many years experience, I will keep watching the charts thanks alot

Quoting PandoraBox
What happen today, had happen few years ago. History repeating again.

Sorry bro, I'm not making a call.
  • #234,877
  • Apr 6, 2011 7:02am Apr 6, 2011 7:02am
Quoting uncletrumpet
we need to always know that the market is still very noisy

ok SIFU but target accomplished already ..this was yesterday post
http://www.forexfactory.com/showpost...stcount=234861
MY OPINION NOT FINANCIAL ADVISE
  • #234,878
  • Apr 6, 2011 7:41am Apr 6, 2011 7:41am
Quoting grashid
..damm it..u r damm bloody greed bro.

but honestly i adjusted that 163 to 158.230 yesterday...going to see 134.20-133.80 test if it hapen next week where perhaps i may add one more....and 137.60-139.40 before adjusted back that TP...step by step...as usual

current weekly=monthly make me love so so much with my Maria...
then yes..monthly close will decide whats next

thanks for everything ya...
http://www.forexfactory.com/showpost...stcount=234812

mmm...139.670 the high for today....ok la...enough for my whole year profit.

Ok guys i am resting now and b eback in June/July...still waiting my new baby...

for those who are looking for bear, wait for today close. Below 138.60 possible 200-300 retracement before next Phase 2 of bullish movement to test 142.30 and welcome 140X and bye2 12X...

good luck and and wish all of you happy green pips always...

take care

g
  • #234,879
  • Apr 6, 2011 7:49am Apr 6, 2011 7:49am
Quoting grashid
http://www.forexfactory.com/showpost...stcount=234812

mmm...139.670 the high for today....ok la...enough for my whole year profit.

Ok guys i am resting now and b eback in June/July...still waiting my new baby...

for those who are looking for bear, wait for today close. Below 138.60 possible 200-300 retracement before next Phase 2 of bullish movement to test 142.30 and welcome 140X and bye2 12X...

good luck and and wish all of you happy green pips always...



take care

g
Hey G man you from Asia??
"Millionaires don't use astrology, billionaires do"
  • #234,880
  • Apr 6, 2011 7:54am Apr 6, 2011 7:54am
Quoting grashid
http://www.forexfactory.com/showpost...stcount=234812

mmm...139.670 the high for today....ok la...enough for my whole year profit.

Ok guys i am resting now and b eback in June/July...still waiting my new baby...

for those who are looking for bear, wait for today close. Below 138.60 possible 200-300 retracement before next Phase 2 of bullish movement to test 142.30 and welcome 140X and bye2 12X...

good luck and and wish all of you happy green pips always...

take care

g
Yes...same view. A test 135 area. IF not all the way 144 area
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