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

what ya bet it ranges in between the fibs for awhile

155.96 and 155.11

we'll see
same as mine was out at BE at 155.63

but s+p just showing a big volume spike, and it sure aint buying volume on this 5min bar.
Selling rallies is probably the safest trade. . . looking at the swing high/low of the last move from 160.30 to 153.47, price has traveled 1,000 pips down over the past couple days. . .

I would expect 154.95 area to cap the move down and a recovery to at least the 62 Fibo at 157.70 to cap any recover for a further move lower to our ultimate target at 149.30 area. . .

A suggestion would be to wait for a bounce off one of these support/resistance before going long or either going short. . . As everything else is just noise. . .

Use rsi, macd, stoch on lower tf's 15 min/30 min to monitor OS or OB conditions before entering as price could overshoot these levels depending on momentum. . .
ok seriously now. s+p just tanked over 2 points in an instant, and gj hasnt even blinked what the *$&* is it doing
Quoting quecee5
I would expect 154.95 area to cap the move down and a recovery to at least the 62 Fibo at 157.70 to cap any recover for a further move lower to our ultimate target at 149.30 area. . .

A suggestion would be to wait for a bounce off one of these support/resistance to be hit before going long or either going short. . . Use rsi, macd, stoch on lower tf's 15 min/30 min to monitor OS or OB conditions before entering as price could overshoot these levels depending on momentum. . .
agree 100% Q. the news threw a small wrench inthe gears this morning and got us below a support level but trend I think is ultimately unchanged as you suggest
I HATE TRIANGLE
If you resist at heart attack, you will be rich from trading.
Quoting ewokuk
ok seriously now. s+p just tanked over 2 points in an instant, and gj hasnt even blinked what the *$&* is it doing
S&P is sitting on support looking at the 4hr chart - unless it breaks support at 980 some recovery is expected to at least 990 or slightly above. But looking at the daily chart for the S&P the ultimate trend is lower for a test of 950 area and possibly lower on a break of this support.

Be patient and wait for a gd entry for the ultimate ride lower for at leat 700-800 pips if 157.70/158 resistance holds. . . If/when we get there. . .
looking like a bear flag of sorts on the 5TF. If it plays out it'll bring us right to the 154.9 range (which is good support area) Good place for longs as Q pointed out
Quoting quecee5
Selling rallies is probably the safest trade. . . looking at the swing high/low of the last move from 160.30 to 153.47, price has traveled 1,000 pips down over the last couple days. . .

I would expect 154.95 area to cap the move down and a recovery to at least the 62 Fibo at 157.70 to cap any recover for a further move lower to our ultimate target at 149.30 area. . .

A suggestion would be to wait for a bounce off one of these support/resistance before going long or either going short. . . As everything else is just noise. . .

Use rsi, macd,...


well thats cool i also have 149 here on my daily chart......nice analysis bro
MY OPINION NOT FINANCIAL ADVISE
i am not patient, i must practice that

when im patient i end up being too patient and missing the entry completely
Here is a simple chart for reference. . . no frills just the basics. . .
Attached Image (click to enlarge)
Click to Enlarge Name: gj 4hr chart.gif Size: 27 KB
Quoting quecee5
S&P is sitting on support looking at the 4hr chart - unless it breaks support at 980 some recovery is expected to at least 990 or slightly above. But looking at the daily chart for the S&P the ultimate trend is lower for a test of 950 area and possibly lower on a break of this support.

Be patient and wait for a gd entry for the ultimate ride lower for at leat 700-800 pips if 157.70/158 resistance holds. . . If/when we get there. . .
see...

a bit of difference after the Thin.... R... session..

Hope yuo are still keeping your shorts from 162

bro.. EU looks very bearish on weekly.. and all here looks like a big Card Tower... As for GY.. Another leg is to be expected towards 152 or lower.. before we jump UP again on another correction...

cheers.. talk with you very soon.!
step by step market will do is thing....i'll love to see 159 before any move to the down side...this are my key levels..trade your chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 8-18-2009 2-57-43 PM.png Size: 34 KB
MY OPINION NOT FINANCIAL ADVISE
Quoting ewokuk
i am not patient, i must practice that

when im patient i end up being too patient and missing the entry completely
Just remember preserving cash in the forex market is the key to winning. there is always another trade bro. . .

Being patient, studying the market during these ranging periods and devising a plan for a target entry and exit is the key to successful traders.
Quoting Piters
see...

a bit of difference after the Thin.... R... session..

Hope yuo are still keeping your shorts from 162

bro.. EU looks very bearish on weekly.. and all here looks like a big Card Tower... As for GY.. Another leg is to be expected towards 152 or lower.. before we jump UP again on another correction...

cheers.. talk with you very soon.!
U bastard where have you been. . . Yes, I have my shorts at 162/160 and now waiting for another entry for 158 area. . .

Call me u old bastard - u know where. . .
MY OPINION NOT FINANCIAL ADVISE
Quoting quecee5
Just remember preserving cash in the forex market is the key to winning. there is always another trade bro. . .

Being patient, studying the market during these ranging periods and devising a plan for a target entry and exit is the key to successful traders.
yeah patience is whats been killing me.

GU just took a flier and took gj with it, dont know why
Quoting ewokuk
yeah patience is whats been killing me.

GU just took a flier and took gj with it, dont know why
News related bro it's all news related. . . and normal biz. . . Wait for a gd entry as the ultimate trend in lower, everything else is simply noise. . .
Quoting quecee5
U bastard where have you been. . . Yes, I have my shorts at 162/160 and now waiting for another entry for 158 area. . .

Call me u old bastard - u know where. . .
just some personal things..
BB very shortly...
Quoting Piters
just some personal things..
BB very shortly...
K bro take yr time. . . and no 88 yr tai granny's in the midst. . .
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