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

  • #5,161
  • Aug 8, 2007 3:34pm Aug 8, 2007 3:34pm
Quoting karmostaji
The platform i'm using, 4H candle closed 30 mins ago
Still on 1H tf I also have a hanging man, il just wait for this hour bar to close, it opened below the body of the hanging man, so if I have bearish confirmation I am also thinking going short.
  • #5,162
  • Aug 8, 2007 3:42pm Aug 8, 2007 3:42pm
If price doesn't go much higher this could turn out to be AB=CD pattern with slightly different rations. Which means another leg down. But its too early to say that.
Price going up pretty steep.
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.jpg Size: 50 KB
  • #5,163
  • Aug 8, 2007 3:45pm Aug 8, 2007 3:45pm
Quoting new_trader
If price doesn't go much higher this could turn out to be AB=CD pattern with slightly different rations. Which means another leg down. But its too early to say that.
Price going up pretty steep.
I am impressed, even though I don't understand a bit of your chart...
  • #5,164
  • Aug 8, 2007 3:50pm Aug 8, 2007 3:50pm
Quoting karmostaji
Hanging man

I could be TOTALLY WRONG and lose many pips, so becareful
Karm,

Perhaps the noose is loose...

Loose enough, that is, since the 4H candle had some upper wick and saw a higher high at 16:00 over the previous at 12:00.

Contrasting that with the hangman or hammer seen at 12:00 on 7/31 with very little upper wick and a lower high than the preceeding 4H (8:00) which did produce a big drop. Makes me now want to go study the finite differences between the two.

Could another way to interprete this type of candle suggest that there was adequate strength to close higher on the candle proper overcoming any draw down / selling pressure in that overall time frame?

A perceptive glimpse of the obivous is to accept then that only the subsequent 4H time frames will clarify any of this interpretation... if there is any relationship to be given.

Viewing the candles... how much weight towards the future should we really place on the candles in such a complex and volatile market?

I viewed Steve Nison's webinar yesterday and all he was trying to do was shamefully tease the viewer in a promotion of his DVD's.

I still enjoy studying their mystical hysterical powers. Probably as valid as any other indicator for predicting an unpredicatable future.

As always, I appreciate and learn from your analysis.

Dr. D.
  • #5,165
  • Aug 8, 2007 3:59pm Aug 8, 2007 3:59pm
Quoting new_trader
If price doesn't go much higher this could turn out to be AB=CD pattern with slightly different rations. Which means another leg down. But its too early to say that.
Price going up pretty steep.
Looks like a satelite image of crop circle... and a frenzied bull and a bear on the loose.
  • #5,166
  • Aug 8, 2007 4:08pm Aug 8, 2007 4:08pm
ab=cd are black lines, circle its just where to concentrate attention, mspaint i use sometime smoothen image sorry, overall I'm long until low timeframe says long to me and trying to take small shorts
The Gann Fan I use(red lines) is pretty much useless to me unless I got proper low tf charts setup properly.
  • #5,167
  • Aug 8, 2007 4:12pm Aug 8, 2007 4:12pm
Short Party
Trade what you see, not what you think.
  • #5,168
  • Aug 8, 2007 4:22pm Aug 8, 2007 4:22pm
TP 242.75

I'm going to bed, becareful with the trade.. it may go crazy
Trade what you see, not what you think.
  • #5,169
  • Aug 8, 2007 4:32pm Aug 8, 2007 4:32pm
Shorting now might not be such a bad idea if you want to scalp up to 100 pips for more...

For the long term longs... I see this consolidation wave pattern lasting into the London - NY period or beyond with a futher pull back that could drop to near 38.2 fib which would serve as a strong support level ~242.70's from previous multiple tops at that former level of resistance. If it breaches that S/R level forget the fibs and dismiss the likelihood of moving up further in the near term... this thing could drop an additional 200 - 300 pips back into a ranging market.

JMHO
  • #5,170
  • Aug 8, 2007 4:36pm Aug 8, 2007 4:36pm
Quoting auslanco
Moderators... they are a joke here..

I have seen many good traders come here wanting to share their success... No one last here too long.. why? because other "senior" traders dont like it. Since the very day ,this thread was the most popular one. At any given time this thread has twice as more members than any other thread on this forum.. I'm sure those who ever call themselves proffessional or senior or what eva do not like that so much....

One of the members here have set up a private forum already... I will PM the address to you guys...

Aulsanco,

I hope I get the address, I was thinking of doing the same thing and having you as the admin so you could deside who stays and goes. Glad to hear somebody is thinking the same thing and really Really hope I get a pm from you inviting me to the new place.

I have see some senior posts that were honest and tried to help but as you said many go the other direction. I know that trades that went bad on me were because I messed them up and not because of any other reason. I will also say that I have learned more from this thread than any other thread thus far and it is because of people like auslanco and karm. If others would take the time to acually Read what they post and Look at the charts they post, then compare it to the charts they have of their own they will learn.

Oh well just my thoughts. Don't forget me auslanco.
  • #5,171
  • Aug 8, 2007 4:48pm Aug 8, 2007 4:48pm
auslanco, please include me in your pm, i am learning so much from you.
thanks
  • #5,172
  • Aug 8, 2007 4:51pm Aug 8, 2007 4:51pm
I am not much on words but since I started viewing this thread, I have a 100% better understanding of this extremely volatile pair and have been rewarded with over 800 pips since last week which includes todays march to 244. Keep this thread rocking and kudos to Auslanco and the rest of the members who have posted to this thread
  • #5,173
  • Aug 8, 2007 4:51pm Aug 8, 2007 4:51pm
Quoting edkami
auslanco, please include me in your pm, i am learning so much from you.
thanks
Me too please I have learned so much I made 6K just yesterday.
  • #5,174
  • Aug 8, 2007 4:58pm Aug 8, 2007 4:58pm
Did you guys skip the part where he said he was STAYING???
  • #5,175
  • Aug 8, 2007 4:59pm Aug 8, 2007 4:59pm
Quoting ak47dan2004
Me too please I have learned so much I made 6K just yesterday.
Good for you!!
  • #5,176
  • Edited 5:20pm Aug 8, 2007 5:03pm | Edited 5:20pm
Auslanco, can you please include me in your PM

Moderator note... DO NOT POST EMAIL ADDRESSES
  • #5,177
  • Aug 8, 2007 5:06pm Aug 8, 2007 5:06pm
I think alot of people here are still learning. I'm sure none of the 70+ users who are constantly on this thread actually contribute (at the moment). We're all learning and of course there are some people here who without them, this thread wouldn't have gotten where it is right now.

So thanks and keep on rockin the pips!

IAuslanco pm please.

Quoting ak47dan2004
Me too please I have learned so much I made 6K just yesterday.
that is not a bad chunk of change for a day sitting in front of the computer!
  • #5,178
  • Aug 8, 2007 5:07pm Aug 8, 2007 5:07pm
GJ is spiking upwards..
  • #5,179
  • Aug 8, 2007 5:26pm Aug 8, 2007 5:26pm
Quoting intelmaster
GJ is spiking upwards..
Probably central banks
  • #5,180
  • Aug 8, 2007 5:29pm Aug 8, 2007 5:29pm
Quoting Phonetic
Did you guys skip the part where he said he was STAYING???
Thank you for stating the obvious, Phonetic. For all the LEARNING that so many of these others are experiencing you'd think of all things they would LEARN HOW TO READ THE STINKING THREAD!

M2B
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