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

  • #4,921
  • Aug 8, 2007 7:07am Aug 8, 2007 7:07am
Karmostaji,

I think that my difficulty is not where is retracement ends (1h touched 5sma), it is where theretraement starts ????


How do you pick the time the theretraement has started ????
  • #4,922
  • Aug 8, 2007 7:10am Aug 8, 2007 7:10am
Quoting trader8686
Karmostaji,

I think that my difficulty is not where is retracement ends (1h touched 5sma), it is where theretraement starts ????


How do you pick the time the theretraement has started ????
It hasn't started but it may very soon, I just closed my long and took profit.. I'm satisfied and not being greedy
Trade what you see, not what you think.
  • #4,923
  • Aug 8, 2007 7:11am Aug 8, 2007 7:11am
Quoting karmostaji
It hasn't started but it may very soon, I just closed my long and took profit.. I'm satisfied and not being greedy
Is there a technical way to find out?
  • #4,924
  • Aug 8, 2007 7:13am Aug 8, 2007 7:13am
Quoting trader8686
Is there a technical way to find out?
I don't know, for me after a price has done some extensive moves (like today upwards), when price stalls somewhere, finds resistance and cant break it.. thats a sign of retracement.. plus 242.70 was my tp and a fibo line, so to me it makes sense but i could be totally wrong..
Trade what you see, not what you think.
  • #4,925
  • Aug 8, 2007 7:19am Aug 8, 2007 7:19am
Quoting karmostaji
I don't know, for me after a price has done some extensive moves (like today upwards), when price stalls somewhere, finds resistance and cant break it.. thats a sign of retracement.. plus 242.70 was my tp and a fibo line, so to me it makes sense but i could be totally wrong..
Here you go.
The best expert to ask this question to:
What is the high and the low and the % of this fibo line?
  • #4,926
  • Aug 8, 2007 7:20am Aug 8, 2007 7:20am
Quoting trader8686
Here you go.
The best expert to ask this question to:
What is the high and the low and the % of this fibo line?
High 251.07
Low 237.58
Fibo level 38.2% (242.70)
Trade what you see, not what you think.
  • #4,927
  • Aug 8, 2007 7:23am Aug 8, 2007 7:23am
The top line on the 4H Chart wedge/triangle has given way and a successful candle close has occurred. Technically, there is still resistance at the 38.2 Fibo around 242.75, the most recent high is around 243.15 and the 'neckline' break of the inverted head and shoulders is around 243.50. I think a successful close above 243.50 would give credence to a resumption of the carry trades. Until then anything can still happen.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 4h.jpg Size: 43 KB
  • #4,928
  • Aug 8, 2007 7:36am Aug 8, 2007 7:36am
Quoting my2buoys
The top line on the 4H Chart wedge/triangle has given way and a successful candle close has occurred. Technically, there is still resistance at the 38.2 Fibo around 242.75, the most recent high is around 243.15 and the 'neckline' break of the inverted head and shoulders is around 243.50. I think a successful close above 243.50 would give credence to a resumption of the carry trades. Until then anything can still happen.

M2B
Hi My2buoys,

i'm seeing that inverted head and shoulders as well , but how come your neckline is so high ? Could you show it to me please

Thanks
COT: The precious data ignored
  • #4,929
  • Aug 8, 2007 7:43am Aug 8, 2007 7:43am
Quoting kuroro001
Hi My2buoys,

i'm seeing that inverted head and shoulders as well , but how come your neckline is so high ? Could you show it to me please

Thanks
Some people draw necklines differently than others. I draw them across the highest points, the top of the wicks, to be sure.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 4h.jpg Size: 45 KB
  • #4,930
  • Aug 8, 2007 7:46am Aug 8, 2007 7:46am
Quoting my2buoys
Some people draw necklines differently than others. I draw them across the highest points, the top of the wicks, to be sure.

M2B
I see , thanks
COT: The precious data ignored
  • #4,931
  • Edited 8:17am Aug 8, 2007 7:51am | Edited 8:17am
Be careful, New York session opens, soon.

US News Due: (Central Time)

9:00am USD Wholesale Inventories m/m

9:30am USD Crude Oil Inventories

Both are minor impact
  • #4,932
  • Aug 8, 2007 8:03am Aug 8, 2007 8:03am
1hr candle couldn't close above 242.70, retracement is on
Trade what you see, not what you think.
  • #4,933
  • Aug 8, 2007 8:04am Aug 8, 2007 8:04am
I have a feeling DOW might underperform today - sprint, toll brothers, etc are posting losses.. let's see.
  • #4,934
  • Aug 8, 2007 8:04am Aug 8, 2007 8:04am
Quoting karmostaji
1hr candle couldn't close above 242.70, retracement is on
yes
also new 1H momentum is down
retracement active...
  • #4,935
  • Aug 8, 2007 8:14am Aug 8, 2007 8:14am
UJ is trying to pull GJ down, but GU is holding GJ


cmon GU quit it n be nice head south lol
Trade what you see, not what you think.
  • #4,936
  • Aug 8, 2007 8:17am Aug 8, 2007 8:17am
Quoting karmostaji
1hr candle couldn't close above 242.70, retracement is on
Any thoughts about a long possibility at the 1 hr 5sma?

The 4h SI crossed and the day is now up?

I think we bounce off of the 38.2 fib here at 242.80 and down to 242.25 (1H 5sma) then try the 242.80 again.

With the 4H SI up over 50 (with confirmation candle) and the day turned up, it seems like we would have a good shot at busting 242.80 and heading to the 50% at 244.

Thoughts?
  • #4,937
  • Aug 8, 2007 8:17am Aug 8, 2007 8:17am
I hope retracement will take place. I have short position which i miss the opportunity to close (doing something. At the time i on the desk, the price is up..... argh........... currently i am hedging...

Guys... if u have a signal it will go south, please let me know..tq..
If it will go north, i wait until it will retrace
  • #4,938
  • Aug 8, 2007 8:27am Aug 8, 2007 8:27am
Quoting cesande
Any thoughts about a long possibility at the 1 hr 5sma?

The 4h SI crossed and the day is now up?

I think we bounce off of the 38.2 fib here at 242.80 and down to 242.25 (1H 5sma) then try the 242.80 again.

With the 4H SI up over 50 (with confirmation candle) and the day turned up, it seems like we would have a good shot at busting 242.80 and heading to the 50% at 244.

Thoughts?
For what it is worth, I am seeing the Bulls too.

Long at 242.67 and 242.81

Fingers crossed, Dow should start out on the up side I believe.
  • #4,939
  • Aug 8, 2007 8:34am Aug 8, 2007 8:34am
no retracement happening. this is just going up.
  • #4,940
  • Aug 8, 2007 8:35am Aug 8, 2007 8:35am
Quoting gr8collector
no retracement happening. this is just going up.
max 243.11 for now
Trade what you see, not what you think.
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