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

  • #235,081
  • Apr 10, 2011 1:16pm Apr 10, 2011 1:16pm
Quoting B737Pilot
GBPJPY FXCM M5 chart.( The entire day of Friday)
. Yellow box from 5pm EDT Miami/NY (day B4)..to 4PM Friday. Red box is London breakout. (AB=CD note was from a previous day)
Now..just to say ..a 10 years old kid would have done better than me just by staying under the yellow SAR ..Angles in trading are very important .the steeper the angle (1PM/5PM) ..the more buying or selling pressure ..no need for any other indicators..they all lag behind anyways ..and way too much restrictif....by the time you receive a clear signal...PA has already moved 50pips..
And...

I am very much happy because it is getting popular.

Why because it is a question of discussion and argument in a postive way.
  • #235,082
  • Apr 10, 2011 2:08pm Apr 10, 2011 2:08pm
Professional traders = Big theeth for a smile ..but more often predator style..:-)
Attitude is about everything in life. I respect any point of view. I'm a forex addicted..requires the same set of skills than flying. Trading is hard..very challenging..rewards are even greater.
I still see the Devil many times a day..came use to it..scared me to death at beginning..but like anything hard in life it gets easier with time..I mean 1000 hours of screening time.
Quoting harigp
I am very much happy because it is getting popular.

Why because it is a question of discussion and argument in a postive way.
  • #235,083
  • Apr 10, 2011 2:18pm Apr 10, 2011 2:18pm
This pair continues to struggle up here. It has been here before which then led to a pullback to 1.60. Seems above 1.63 there are offers and around 1.60 the bidders dominate. Considering the Fed govt was not shutdown over the weekend, a small dollar rally could cause this pair to pull back some as it cannot hold 1.64

http://i54.tinypic.com/2qukrvb.png

----
blog: http://thinkfirstblinksecond.com
  • #235,084
  • Apr 10, 2011 2:23pm Apr 10, 2011 2:23pm
Quoting B737Pilot
Professional traders = Big theeth for a smile ..but more often predator style..:-)
Attitude is about everything in life. I respect any point of view. I'm a forex addicted..requires the same set of skills than flying. Trading is hard..very challenging..rewards are even greater.
I still see the Devil many times a day..came use to it..scared me to death at beginning..but like anything hard in life it gets easier with time..I mean 1000 hours of screening time.

I am not challing you a bit of your staement because it is a true statment

We are in the Jaws of the sharks or we are in the process of studying the big ocean . That is why I love it for any pair for that matter
  • #235,085
  • Apr 10, 2011 2:39pm Apr 10, 2011 2:39pm
Quoting B737Pilot
Traders big secrets...
and here's the live example. lol. sorry... euro chart. ^^
Attached Image (click to enlarge)
Click to Enlarge Name: euro_04_09_11_5.gif Size: 19 KB
  • #235,086
  • Apr 10, 2011 2:50pm Apr 10, 2011 2:50pm
Perfect exemple...I traded this reversal on EURUSD thousands of time..they have this fake out ..breakout Sup then immediately up...still..this pair is not a big mover...too many momemtums..only GJ & EJ..the best crosses for intraday..i studied each pair separately..each one has their own specific move...the worse are EURGBP..USDCAD moves with oil (Canada is an oil supplier)...AUDUSD moves with Gold ( very low volatility except their crazy 100 pips once a while)...;and USD CHF very bad...(bank intervention anytime with no reason..).
  • #235,087
  • Apr 10, 2011 2:53pm Apr 10, 2011 2:53pm
Quoting B737Pilot
Perfect exemple...I traded this reversal on EURUSD thousands of time..they have this fake out ..breakout Sup then immediately up...still..this pair is not a big mover...too many momemtums..only GJ & EJ..the best crosses for intraday..i studied each pair separately..each one has their own specific move...the worse are EURGBP..USDCAD moves with oil (Canada is an oil supplier)...AUDUSD moves with Gold ( very low volatility except their crazy 100 pips once a while)...;and USD CHF very bad...(bank intervention anytime with no reason..).
yes, very true. bagged about 5000 pips on this pair alone so far this year though.
  • #235,088
  • Apr 10, 2011 2:54pm Apr 10, 2011 2:54pm
see ew at 15min
Attached Image (click to enlarge)
Click to Enlarge Name: 15m pound yen.gif Size: 28 KB
  • #235,089
  • Apr 10, 2011 2:55pm Apr 10, 2011 2:55pm
Good for you!!
Quoting pkimnyc
yes, very true. bagged about 5000 pips on this pair alone so far this year though.
  • #235,090
  • Apr 10, 2011 3:04pm Apr 10, 2011 3:04pm
GU:

We had a weekly close above this consolidation zone. This might indicate a bullish breakout is awaiting. Support is the low of the 2 candles I marked.

I have buy limit orders at 1.63, SL at 1.62. Targets, well, lets see
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdweek.gif Size: 19 KB
Click to Enlarge Name: gbpusdday.gif Size: 24 KB
  • #235,091
  • Apr 10, 2011 3:42pm Apr 10, 2011 3:42pm
has been oscillating not trending other than the oscillation. as you can see hit the resistance line at the top of the current oscillation and pulled back and in early trading it has turned down. expect more downside the GBP sector for the last couple days has leaned more to the weak side than anything else.
  • #235,092
  • Apr 10, 2011 6:09pm Apr 10, 2011 6:09pm
Quoting peaches
GU:

We had a weekly close above this consolidation zone. This might indicate a bullish breakout is awaiting. Support is the low of the 2 candles I marked.

I have buy limit orders at 1.63, SL at 1.62. Targets, well, lets see
I have buy limit at 1.6345 sl 1.64 tp 1.64.reason cluster at m30 and engulfing pattern at h4 demand zone
Attached Image (click to enlarge)
Click to Enlarge Name: gu311.png Size: 39 KB
Gold Expedition Return This Year: -16.4%
  • #235,093
  • Apr 11, 2011 1:23am Apr 11, 2011 1:23am
After rejection at 140 and 139.50...yup we might see 500 pips down from here. Next support at 135 and second support at 133.90.

Quoting maanawi
you welcome
mmm, we have done almost 988 pips do u expect 500 fall? i already take short at 139.93 with 15 pips SL
  • #235,094
  • Apr 11, 2011 1:24am Apr 11, 2011 1:24am
Guys what is the outlook for GU on weekly ?? can we see 1.45 if 1.655 hold in 2 months ?? just a question!
  • #235,095
  • Apr 11, 2011 1:30am Apr 11, 2011 1:30am
Quoting PandoraBox
After rejection at 140 and 139.50...yup we might see 500 pips down from here. Next support at 135 and second support at 133.90.
yea i think closing below 138 ill give a nice confirmation to target 135~
then up to 137 / 138 then down to 129

but! there still space for another high as Grashid said of another 200 pips and I expect from there 129 right away, so keep eye on 138 area could be our push to last week high + 200 pips but if broke will act as good res.
  • #235,096
  • Apr 11, 2011 1:39am Apr 11, 2011 1:39am
Quoting Noname
has been oscillating not trending other than the oscillation. as you can see hit the resistance line at the top of the current oscillation and pulled back and in early trading it has turned down. expect more downside the GBP sector for the last couple days has leaned more to the weak side than anything else.

next target GBP/USd 1.6256
  • #235,097
  • Apr 11, 2011 1:39am Apr 11, 2011 1:39am
about 129 .....I'm not sure because you need to break bloody support at 135 area.

Previous 135 has been rejected few times, but now it become major support.

Quoting maanawi
yea i think closing below 138 ill give a nice confirmation to target 135~
then up to 137 / 138 then down to 129

but! there still space for another high as Grashid said of another 200 pips and I expect from there 129 right away, so keep eye on 138 area could be our push to last week high + 200 pips but if broke will act as good res.
  • #235,098
  • Apr 11, 2011 2:06am Apr 11, 2011 2:06am
This is GU view on weekly , price levels in average ~ but we may see all the action at the TLs
Attached Image (click to enlarge)
Click to Enlarge Name: guwkly.jpg Size: 132 KB
  • #235,099
  • Apr 11, 2011 2:11am Apr 11, 2011 2:11am
Quoting PandoraBox
After rejection at 140 and 139.50...yup we might see 500 pips down from here. Next support at 135 and second support at 133.90.
I tend to agree with the downside. I'd mentioned the upper 139's are significant support/resistance with major bounce potential and a simple 150 or so pips south before launching over 140 is unlikely IMO. If GU isn't ready to launch over 1.64 just yet, it will be the additional catalyst to get GY down to 137/135. But really, as the yens go, so shall GY ... and that's the danger in calling 200 pips intervals in GY right now.

In the meantime, you can almost always count on a bounce off the previous day's highs and lows especially like here, and in this case some OK stopping volume to boot; 20 pips off for good/secure measure, and let the rest roll.
Attached Image (click to enlarge)
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  • #235,100
  • Apr 11, 2011 2:19am Apr 11, 2011 2:19am
Quoting PandoraBox
about 129 .....I'm not sure because you need to break bloody support at 135 area.

Previous 135 has been rejected few times, but now it become major support.
this is my 135 TL.
Attached Image (click to enlarge)
Click to Enlarge Name: 135tl.gif Size: 23 KB
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