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

  • #17,281
  • Aug 28, 2007 5:18pm Aug 28, 2007 5:18pm
Quoting Zoran
OK, are there any newbies here? If so, please tell me what your next trade is so I can determine the direction please.
COT: The precious data ignored
  • #17,282
  • Aug 28, 2007 5:20pm Aug 28, 2007 5:20pm
Quoting ryepatchga
jay9170, I understand the way it was explained like Kuroro001 said. I believe you go to the time frame with the momentum angle turned the sharpest, unless a higher timeframe changes the one you start with. Go back to post # 16375 and start reading several pages of post. You will pick up some " gold nuggets" that are very importamt about retraces and ranging. Take down notes as the posts will get lost in the shuffle. " it took me a while to find them again" Hope this helps. God Bless !!!
This seems to sum it up well...

I think I might be understanding this retractment thing. The reason there is not a 4hr retractment due during the 4 hr. candle is because the momentum on the 4 hr. chart was pointing down at the beginning of the current candle. If the 4 hr momentum where to be pointing up at the beginning of the next candle there could be a chance of a retractment to the 5 sma on the 4 hr TF? I am assuming the same is true on other time frames as far as determing when a retractment is due during a given time frame. Is this basically correct? I am sure you are looking at more factors than this but I am trying to get down the basics.
  • #17,283
  • Aug 28, 2007 5:20pm Aug 28, 2007 5:20pm
Quoting Zoran
OK, are there any newbies here? If so, please tell me what your next trade is so I can determine the direction please.

my charts are pointing up (momentum), i think there will be a retracement to 4h 5sma just like markam said. can you check that for me?
  • #17,284
  • Aug 28, 2007 5:21pm Aug 28, 2007 5:21pm
Quoting kuroro001

Quoting Zoran
OK, are there any newbies here? If so, please tell me what your next trade is so I can determine the direction please.

  • #17,285
  • Aug 28, 2007 5:24pm Aug 28, 2007 5:24pm
Quoting lilmoe
my charts are pointing up (momentum), i think there will be a retracement to 4h 5sma just like markam said. can you check that for me?
my 4hr is still flat but confirmed pointing up on all other shorter tf
  • #17,286
  • Aug 28, 2007 5:26pm Aug 28, 2007 5:26pm
Yes. Thats the way I understand it. Also read those post Aus had about the large retracement we just had. Very, Very Valuable They come soon after the start of the small timeframes. Will help us understand even more. Thanks!
  • #17,287
  • Aug 28, 2007 5:28pm Aug 28, 2007 5:28pm
Quoting khmr
my 4hr is still flat but confirmed pointing up on all other shorter tf
Same here, 5min flat though and qqe needs to cross lower as it is in all other timeframes
  • #17,288
  • Aug 28, 2007 5:28pm Aug 28, 2007 5:28pm
The 4hr. on my VT chart is not up.
  • #17,289
  • Aug 28, 2007 5:30pm Aug 28, 2007 5:30pm
Well I guess this is what I get for just jumping right in there (short) before I fully look at all my tf . Now I must ride out a 1hr retrace..lol BUT it is better than a 4hr retrace..
  • #17,290
  • Aug 28, 2007 5:31pm Aug 28, 2007 5:31pm
hey.. thinking seriously... it is a very good idea... lol
so.. newbies can help too.... but please post a clear sign... "NEWBIE SUGGESTION:" first... heh


once I thought of a very good system... show forex to a person who doesn't know anything about forex... and ask him/her if he/she thinks it is going up or down.... then do the opposite... if the system starts to fail... then get a new person... and so on... 90% profitable system forever. lol
  • #17,291
  • Aug 28, 2007 5:33pm Aug 28, 2007 5:33pm
Quoting kuroro001
hey zoran i am long with a target of 270. hows that?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #17,292
  • Aug 28, 2007 5:36pm Aug 28, 2007 5:36pm
Quoting moneymagnet
hey zoran i am long with a target of 270. hows that?

You idiot. There will be a retracement at 255 all the back to 190. You don't want to hold through that.
  • #17,293
  • Aug 28, 2007 5:37pm Aug 28, 2007 5:37pm
Here is a present for my friend karmo. A perfectly formed red butterfly. Please take care of it as red ones are a bit exotic and rare!
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  • #17,294
  • Aug 28, 2007 5:39pm Aug 28, 2007 5:39pm
Quoting markam
You idiot. There will be a retracement at 255 all the back to 190. You don't want to hold through that.
LOL. Oh my bad. Thanks for the advice you experienced trader you!!!!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #17,295
  • Aug 28, 2007 5:41pm Aug 28, 2007 5:41pm
Quoting moneymagnet
LOL. Oh my bad. Thanks for the advice you experienced trader you!!!!
COT: The precious data ignored
  • #17,296
  • Aug 28, 2007 5:41pm Aug 28, 2007 5:41pm
landed... now take off !
  • #17,297
  • Aug 28, 2007 5:43pm Aug 28, 2007 5:43pm
Quoting emda
landed... now take off !
Soon soon
COT: The precious data ignored
  • #17,298
  • Aug 28, 2007 5:47pm Aug 28, 2007 5:47pm
I hope it'll go up before Asian opening otherwise we might not see the light of the sun
COT: The precious data ignored
  • #17,299
  • Aug 28, 2007 5:48pm Aug 28, 2007 5:48pm
22:26 Carry Trades: Recap Of Bad News Over The Past 36 Hours Sydney, August
29: The bad news that has hit the JPY-funded carry trades over the past 36 hours
has come in waves and almost too numerous to mention in one article. Below is a
list of the main stories that have pushed investor risk aversion higher:
* The UK Times reported that State Street has been identified as having over 15%
of their assets exposed to asset-backed commercial paper conduits.
* Merrill Lynch downgraded Lehman Bros, Bear Stears and Citigroup from buy to
neutral.
* S&P Case Shiller US Q2 home prices fell 3.2% from a year ago. The worst
decline in 20 years.
* FOMC Minutes for the August 7 meeting shows concern over US housing and
consumer confidence even before the credit markets deteriorated.
* Another US mortgage company filed for bankruptcy.
* The Boston Globe reported that the State Street Limited Duration Bond Fund,
which managed 1.4 billion USD for institutional clients, lost about 37 percent
of its value during the first three weeks of August.
* The Dow fell over 2% while the Treasury market has started to price in a US
recession according to the head of fixed interest at Deutsche Private Banking.
  • #17,300
  • Aug 28, 2007 5:52pm Aug 28, 2007 5:52pm
the 1hr retrace is at 228.86 and is done in 7 minutes
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