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

  • #4,781
  • Aug 7, 2007 11:35pm Aug 7, 2007 11:35pm
Quoting Timingy
Looks like down from my end - the 1H SI has crossed the 50 (downwards) and looks like its about to make a bearish cross. The 4H is already bearish and so are the dailies.

Lets see how this 1H closes - but its increasingly looking like it will be down.

Have a short (23947) open since yesterday which I'm hoping will kick in today
Have a pending short too, at 239.37 just below the lower trend line
  • #4,782
  • Aug 7, 2007 11:39pm Aug 7, 2007 11:39pm
Quoting auslanco
If you are short be carefull.. This is going to shoot up any moment,

By the way.. 1hr SI has not crossed down
I'm out my short at +40 on the first support area, waiting to see what happens. Guess I'll open the VT charts and see what's going on there.

How did you go on the AUD Aus. Dead loss that was, I got out with +7.

Mike
  • #4,783
  • Aug 7, 2007 11:43pm Aug 7, 2007 11:43pm
Hey Mike.. you traded aus too? I got my butt kicked on that one.. I shorted.. and it did go down.. but it went up right away - I had to exit - and then the ba$tard went down again
  • #4,784
  • Aug 7, 2007 11:45pm Aug 7, 2007 11:45pm
Quoting MikeW
I'm out my short at +40 on the first support area, waiting to see what happens. Guess I'll open the VT charts and see what's going on there.

How did you go on the AUD Aus. Dead loss that was, I got out with +7.

Mike
Hi Mike.. dont trade AUD.. My indicators dont read the pair properly. Can do scalping... but cant be bothered I guess bastards.. raised the interest rate
  • #4,785
  • Aug 7, 2007 11:48pm Aug 7, 2007 11:48pm
Quoting VishalJ
Hey Mike.. you traded aus too? I got my butt kicked on that one.. I shorted.. and it did go down.. but it went up right away - I had to exit - and then the ba$tard went down again
It was a gamble to short that one - it was 99.99% cert that there was going to be an interest rise. I was just hoping people were going to react to it for a quick 20 pips. I thought it was promising when the spike down happened but then nothing.

Mike
  • #4,786
  • Aug 7, 2007 11:52pm Aug 7, 2007 11:52pm
Quoting auslanco
Hi Mike.. dont trade AUD.. My indicators dont read the pair properly. Can do scalping... but cant be bothered I guess bastards.. raised the interest rate
Hi Aus,

Can you please put a QQE on your 1hour VT and see if it exactly matches your SI, as my QQE has also crossed the 50 line.

thanks

Mike
  • #4,787
  • Aug 7, 2007 11:57pm Aug 7, 2007 11:57pm
Crossing down means..RSindex has to cross down LevelRSIslow and below the 50 line
Attached Image
  • #4,788
  • Aug 8, 2007 12:04am Aug 8, 2007 12:04am
Quoting auslanco
Crossing down means..RSindex has to cross down LevelRSIslow and below the 50 line
Ok thanks - it means nothing unless the dotted line gets crossed as well.

Could you also explain how you read the buy signal that you just gave. Sorry if I seem stupid, it's just that I am.

Mike
  • #4,789
  • Aug 8, 2007 12:07am Aug 8, 2007 12:07am
after 2 and half hours we have report: BOE Inflation Report.
this will be the major news for today and will lead the market.
if the bank see inflation risk, gbp will go up, if inflation is easing then gbp will drop like a rock.
so watch out for this news.
  • #4,790
  • Aug 8, 2007 12:08am Aug 8, 2007 12:08am
Quoting MikeW
Ok thanks - it means nothing unless the dotted line gets crossed as well.

Could you also explain how you read the buy signal that you just gave. Sorry if I seem stupid, it's just that I am.

Mike
too easy..4 hr crossed up
1hr crosses the 50 line.. I buy. for 200 pips..
  • #4,791
  • Aug 8, 2007 12:08am Aug 8, 2007 12:08am
I think yesterday and the day before... it proved the big support at 239.20

so... I'll be long as soon as the resistance is broken
  • #4,792
  • Aug 8, 2007 12:13am Aug 8, 2007 12:13am
Quoting auslanco
too easy..4 hr crossed up
1hr crosses the 50 line.. I buy. for 200 pips..
200 pips because the 4hour hasn't crossed the 50 line?
  • #4,793
  • Aug 8, 2007 12:13am Aug 8, 2007 12:13am
Quoting ktrade
Kevin, you got lucky sleeping through this thread today. There was more chaos and multidirectional decisions with the "brass" of the thread getting stopped out again, changing directions a few times, talking of the "ride down, then the ride up, and using 30 minute charts.

So, here's some more help for those who want to listen. Attached please find the 4hr chart with upper/lower trendlines and an arrow highlighting the 20:00 hr "news bar". Note how the lower is still intact AND the upper is still intact. You can trade in between but need to wait for a CLOSE outside one of these lines for anything bigger. (note how it's still intact as you're reading this)

If you had dropped down to the 1hr during the 20:00 news bar, the lower trendline from the 4hr at 239.54 ish would still have been intact closing inside this triangle at 240.21 ish keeping you from shorting in a big way.

Using a 30m which isn't used a whole lot in the "biz" (I learned this 2 years ago cutting my teeth on the old Bunnygirl system. Hey, ya gotta start somewhere!), would've given you a terrible fakeout with a close at 238.78 ish only for the next bar north.

Guys, pull back, look at the bigger picture. Trendlines are a powerful tool. Posting back and forth with the "I think it's going down, DOW blah blah, It's going up..." is only going to kill your accounts. This is not arguable as we've witnessed this now for 3 trading days in a row. Edit: Also, if you're going to use a Daily for your analysis, like I mentioned the other day - get rid of that 5 SMA and put a 10, 20 and 50 on there for crying out loud!!!

Good luck/Good trading,

kt

LOL... what a load of crap...
  • #4,794
  • Aug 8, 2007 12:15am Aug 8, 2007 12:15am
Quoting MikeW
200 pips because the 4hour hasn't crossed the 50 line?

You dont need that.. 4hr crossing up would do ... for a 200pip push..
  • #4,795
  • Aug 8, 2007 12:18am Aug 8, 2007 12:18am
Quoting auslanco
You dont need that.. 4hr crossing up would do ... for a 200pip push..
Yeah I got that, but a 4 hr crossing of the 50 would give you a 300+ ?
  • #4,796
  • Aug 8, 2007 12:20am Aug 8, 2007 12:20am
Quoting MikeW
Yeah I got that, but a 4 hr crossing of the 50 would give you a 300+ ?

Usually yess.. but daily charts down trend is strong.. so I dont want to go that high...
  • #4,797
  • Aug 8, 2007 12:25am Aug 8, 2007 12:25am
trendline nearly broken....
second try.....
asian session did a spike crossing the trendline to confuse where is exactly the trendline
  • #4,798
  • Aug 8, 2007 12:35am Aug 8, 2007 12:35am
Quoting emda
trendline nearly broken....
second try.....
asian session did a spike crossing the trendline to confuse where is exactly the trendline

It will be broken my friend .. dont you worry
  • #4,799
  • Aug 8, 2007 12:36am Aug 8, 2007 12:36am
Quoting emda
trendline nearly broken....
second try.....
asian session did a spike crossing the trendline to confuse where is exactly the trendline
The trendline is really an area not a line. Perhaps we need to draw thicker lines . I wait for a close outside the line and then make sure the next bar isn't a pullback.

Mike
  • #4,800
  • Aug 8, 2007 12:37am Aug 8, 2007 12:37am
Auslanco,

I sent you a pm. have you received it?

Mike
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