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

  • #12,281
  • Aug 21, 2007 12:33am Aug 21, 2007 12:33am
1H momentum has flattened out from its bearish fall and the 30M has finally begun to turn back up. Good signs for Longs.

M2B
  • #12,282
  • Aug 21, 2007 12:36am Aug 21, 2007 12:36am
looks like an inverted head and shoulder to me with a break good for 300 pips. just my 2 pips
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  • #12,283
  • Aug 21, 2007 12:37am Aug 21, 2007 12:37am
  •  jmatt
  • | Joined Jul 2007 | Status: Forex is great, God is better!!! | 60 Posts
uh....can u kick it some more?!?!?!?!?

maybe in the groin this time?
  • #12,284
  • Aug 21, 2007 12:40am Aug 21, 2007 12:40am
Quoting jmatt
uh....can u kick it some more?!?!?!?!?

maybe in the groin this time?
Bring out the gun. lets not muck around anymore
  • #12,285
  • Aug 21, 2007 12:45am Aug 21, 2007 12:45am
according to FXDD--new 4hr candle---could go tst 4hr 5 sma which is presently at 227.90/95 area
waitinf for 15 min to turn bullish and then the rally will continue Up
  • #12,286
  • Aug 21, 2007 12:45am Aug 21, 2007 12:45am
Quoting auslanco
what makes you think 1hr is not confirmed?
Aus, am I right or wrong? Please confirm.
  • #12,287
  • Aug 21, 2007 12:46am Aug 21, 2007 12:46am
Quoting ar1002
1hr 5sma is still above the candle and once it crosses above 5SMA, it is confirmed. Don't know if I am right. Please correct if I am right.

It takes very much time to type the matter as I can use only one right hand to type. Sorry for the delay.
This is easiest and quick way to know it's confirmed:

TFT/GANN.. when the line is bent on the very next bar after the cross over bar. On a buy signal.. TFT is below the bar. On a sell signal TFT is above the bar.

QQE/Strength Indicator: When the green line cross the dotted line and bent , on very next bar after the cross over bar.

Remeber before you enter you must have both these features on 4hr and 1hr charts.
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  • #12,288
  • Aug 21, 2007 12:51am Aug 21, 2007 12:51am
Quoting ar1002
Aus, am I right or wrong? Please confirm.

You find it harder to understand this strategy than others because I feel you are looking for the short cut. I would recommend you to spend a weekend and read 13000 posts on this thread and the other GBP/JPY analysis thread for you to fully understand what going on.
  • #12,289
  • Aug 21, 2007 12:54am Aug 21, 2007 12:54am
Hi Aus. Yesterday we used the daily chart's 5 SMA for the TP target, if I remember correctly. Today the daily 5 SMA is only 228.20.

Should this be cause for concern?

What criteria is being used for your TP target today?

Thanks!

P.S. - Long @ 228.55
  • #12,290
  • Aug 21, 2007 12:55am Aug 21, 2007 12:55am
100sma support on 1hr holding
a close below that would make me question the long
just my thoughts !!
  • #12,291
  • Aug 21, 2007 12:57am Aug 21, 2007 12:57am
I'm with Monarch

if GJ breaks 228.74-229 area, we will be heading towards 231.50
I've got a stop buy order around 229.30 set, with TP at 231.50, since i'm not going to be on the pc for several hours
Trade what you see, not what you think.
  • #12,292
  • Aug 21, 2007 1:07am Aug 21, 2007 1:07am
what i see is uptrend triangle.
  • #12,293
  • Aug 21, 2007 1:08am Aug 21, 2007 1:08am
Quoting Hakuna Matata
100sma support on 1hr holding
a close below that would make me question the long
just my thoughts !!
damn--now this new 1 hr candle will deicde the fate for g/j--if it closes above 100 sma--very +ve sign for long (it could easily now go ans tst the 50ema which is at 227.72ish and then come back up and close above the 100sma)
just sharing another technique i use for s/r levels and candle close above/below major MA's
  • #12,294
  • Aug 21, 2007 1:10am Aug 21, 2007 1:10am
Quoting karmostaji
I'm with Monarch

if GJ breaks 228.74-229 area, we will be heading towards 231.50
I've got a stop buy order around 229.30 set, with TP at 231.50, since i'm not going to be on the pc for several hours
I am still patiently waiting for the Frank and London to set the tone here, especially when we are in a 153 pip range from the Asian Session up to the Frankfurt.

I have High at 229.07 and Low at 227.54 with the median at 228.30.

We also have the 229.55/57 as our High from London Session from Yesterday, so there are a few things to consider in making trades prior to the direction of todays session prematuraly.

Lets be patient and watch the price action give us our lead, until then, lets enjoy the preparation and analysis that must be accomplished before any trade is made.

Safe and Good Trades to all!
  • #12,295
  • Aug 21, 2007 1:14am Aug 21, 2007 1:14am
Long @ 228.22, tp 231.00

Orca
New voice message: Why are you calling me? If I need you, I'll call you!
  • #12,296
  • Aug 21, 2007 1:19am Aug 21, 2007 1:19am
long at 227.72 --hit the 50ema
  • #12,297
  • Aug 21, 2007 1:19am Aug 21, 2007 1:19am
Quoting KillerWhale
Long @ 228.22, tp 231.00

Orca
30 min has crossed down
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  • #12,298
  • Aug 21, 2007 1:21am Aug 21, 2007 1:21am
More bad news for hedge funds and banks.. apparently no one wants to buy commercial paper now (even the ones not involved with any subprimes or mortgages)

To read, http://www.bloomberg.com/apps/news?p...9P8&refer=home

I don't think the carries are going up anywhere, anytime soon. This is only the tip of the iceberg..
  • #12,299
  • Aug 21, 2007 1:22am Aug 21, 2007 1:22am
i'm short gbp/jpy
  • #12,300
  • Aug 21, 2007 1:24am Aug 21, 2007 1:24am
Quoting Hakuna Matata
long at 227.72 --hit the 50ema
i did the same but it is not looking good. i did small lots however.
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