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

  • #7,201
  • Aug 14, 2007 12:30am Aug 14, 2007 12:30am
Quoting zoheir
closed shorts for a total of +158 piips

Now watching happily
nice, I locked in some too
Trade what you see, not what you think.
  • #7,202
  • Aug 14, 2007 12:33am Aug 14, 2007 12:33am
Quoting karmostaji
nice, I locked in some too
Thanks Bro for the reassurance on my decisions all the way.

KARMO ROCKS
  • #7,203
  • Aug 14, 2007 12:35am Aug 14, 2007 12:35am
It just banged off this 4H bullish trend line for the third time. As you can see price is in a tight 4H wedge at the moment. One of these lines has to break soon. Also notice that price is still right near the center of the 1000 pip channel (which would be right around 237.35). Something's gotta give.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 4h.jpg Size: 47 KB
  • #7,204
  • Aug 14, 2007 12:36am Aug 14, 2007 12:36am
another failed short attempt... hope news will come to it's rescue
  • #7,205
  • Aug 14, 2007 12:39am Aug 14, 2007 12:39am
Quoting auslanco
another failed short attempt... hope news will come to it's rescue
Hope CPI comes out a negative number, like -2% .. then all supports will be broken :
  • #7,206
  • Aug 14, 2007 12:39am Aug 14, 2007 12:39am
Auslanco,
Will you be taking a short once (if) the 4H SI crosses its signal line on your system, or will you be staying out re that 100pip spike down, then up, you mentioned?

Mike
  • #7,207
  • Aug 14, 2007 12:42am Aug 14, 2007 12:42am
LOL

Patience my good friends, Patience.
Trade what you see, not what you think.
  • #7,208
  • Aug 14, 2007 12:43am Aug 14, 2007 12:43am
Quoting auslanco
another failed short attempt... hope news will come to it's rescue
well that's not bad, the more attempts it makes until it breaks it , the tougher it's gonna be to jump over it once broken so we can take the shorts confidently
  • #7,209
  • Aug 14, 2007 12:44am Aug 14, 2007 12:44am
Quoting MikeW
Auslanco,
Will you be taking a short once (if) the 4H SI crosses its signal line on your system, or will you be staying out re that 100pip spike down, then up, you mentioned?

Mike
4hr will not change for that 100 pip spike.. I may get in for the retracemnt upwards from the bottom like I did yesterday. The strength is still bullish until the 4hr cross down.
  • #7,210
  • Aug 14, 2007 12:47am Aug 14, 2007 12:47am
Quoting my2buoys
It just banged off this 4H bullish trend line for the third time. As you can see price is in a tight 4H wedge at the moment. One of these lines has to break soon. Also notice that price is still right near the center of the 1000 pip channel (which would be right around 237.35). Something's gotta give.

M2B
From my memory of triangles that's a descending right angle triangle isn't it?

If it is then the odds are that it's bearish.

Mike
  • #7,211
  • Aug 14, 2007 12:51am Aug 14, 2007 12:51am
Quoting auslanco
4hr will not change for that 100 pip spike.. I may get in for the retracemnt upwards from the bottom like I did yesterday. The strength is still bullish until the 4hr cross down.
You don't think that the 4H will cross down before the spike? (which would cancel the immediate retracement)
  • #7,212
  • Aug 14, 2007 12:53am Aug 14, 2007 12:53am
Quoting MikeW
From my memory of triangles that's a descending right angle triangle isn't it?

If it is then the odds are that it's bearish.

Mike
I'm not real familiar with how triangles work (bearish?bullish?). I just know that price seems to be boxed in at this point and it has to break out one way or another.

M2B
  • #7,213
  • Aug 14, 2007 12:58am Aug 14, 2007 12:58am
Quoting MikeW
You don't think that the 4H will cross down before the spike? (which would cancel the immediate retracement)

No .. unless the price stay @ that level for some time.. But as it is there are signs of a good retracement soon unless the UK news is really bad for GBP
  • #7,214
  • Aug 14, 2007 1:00am Aug 14, 2007 1:00am
Quoting my2buoys
I'm not real familiar with how triangles work (bearish?bullish?). I just know that price seems to be boxed in at this point and it has to break out one way or another.

M2B
Fair enough, I very rarely pay attention to triangles myself.

Mike
  • #7,215
  • Aug 14, 2007 1:14am Aug 14, 2007 1:14am
Does Bloomberg TV normally carry the UK CPI reports? I have stayed up to watch the news announcement but some of the announcements are not shown or even talked about during the release time. Thanks for any help.
  • #7,216
  • Aug 14, 2007 1:15am Aug 14, 2007 1:15am
Quoting redflurry45
Does Bloomberg TV normally carry the UK CPI reports? I have stayed up to watch the news announcement but some of the announcements are not shown or even talked about during the release time. Thanks for any help.
yes, wait another 15 mins
Trade what you see, not what you think.
  • #7,217
  • Aug 14, 2007 1:17am Aug 14, 2007 1:17am
Quoting auslanco
No .. unless the price stay @ that level for some time.. But as it is there are signs of a good retracement soon unless the UK news is really bad for GBP

The UK currency is likely to weaken directly if there is a headline figure below 2.3% and a core figure below 2.0%.

Attached Imageshttp://www.forexfactory.com/attachme...1&d=1187041028
__________________

Tim Clayton
Investica Ltd Head of Research
Forex Factory Senior Analyst
Trade what you see, not what you think.
  • #7,218
  • Aug 14, 2007 1:18am Aug 14, 2007 1:18am
Quoting auslanco
My honest personal opinion is this will have a bottom spike about 100 pips or more and it will shoot up for a retracerment like we saw on Friday.
I agree. Price hit that 2360.60-50 level like a finger touching a hot stove.

I'm in after the bounce: long at 236.65 stop losss 236.25. TP 100pips.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #7,219
  • Aug 14, 2007 1:21am Aug 14, 2007 1:21am
Quoting jarroo

I'm in after the bounce: long at 236.65 stop losss 236.25. TP 100pips.

Jim
Damn.. I was all ready to go long from that level.. but missed it
  • #7,220
  • Aug 14, 2007 1:25am Aug 14, 2007 1:25am
Quoting jarroo
I agree. Price hit that 2360.60-50 level like a finger touching a hot stove.

I'm in after the bounce: long at 236.65 stop losss 236.25. TP 100pips.

Jim

I am guessing, that's what experience is all about.. huhh! Of cource, I didn't catch it...

~G.
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