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

  • #18,701
  • Aug 30, 2007 4:08am Aug 30, 2007 4:08am
Quoting lilmoe
hmmmm, what do u think now? still long?
I'll hold onto it, but it seems like it wants to retest the support at 231.70 area like Master A and Lion King are saying
Trade what you see, not what you think.
  • #18,702
  • Aug 30, 2007 4:08am Aug 30, 2007 4:08am
Quoting karmostaji
keep singing my man but change the theme to 'long'

just what i wanted to hear
  • #18,703
  • Aug 30, 2007 4:10am Aug 30, 2007 4:10am
I'm a noob, but I'll try to give my 2 cents.

I think that we're currently in a "triangle formation" (I can't remember what they call it again), but it seems as if well, be ranging for quite some more time before a breakout could occur. There's confluence at the 61.8% fib area (in this 15 min chart), the fib combining with support levels and a trendline from yesterday. However, I went short at 232.75, anticipating a break. basis for the short are: lower time frame QQEs are crossed down (I think) , and the nasty rumours floating around. My entry has a small 20 pip stop loss, just above the triangle just in case the triangle breaks upward instead of down. Just my 2 cents. I hope it's not much of a bother.
Attached Image
  • #18,704
  • Aug 30, 2007 4:11am Aug 30, 2007 4:11am
Quoting karmostaji
The market looks confused, doesn't know where it wants to go..

true--no effin idea-- london boys are puffin away !!
  • #18,705
  • Aug 30, 2007 4:16am Aug 30, 2007 4:16am
Quoting karmostaji
I'll hold onto it, but it seems like it wants to retest the support at 231.70 area like Master A and Lion King are saying

perhaps the market is waiting for news at 12.30gmt and us open before finding direction. i support ur long focus
THE TREND IS UR FRIEND
  • #18,706
  • Aug 30, 2007 4:16am Aug 30, 2007 4:16am
  •  bart
  • | Joined Apr 2007 | Status: I want to be a nacho man... | 18 Posts
Aus,

please, your value on the _level_stop_modif (on 5TF) are 21 and 4?

Thanks

Bart
  • #18,707
  • Aug 30, 2007 4:21am Aug 30, 2007 4:21am
Quoting bart
Aus,

please, your value on the _level_stop_modif (on 5TF) are 21 and 4?

Thanks

Bart
POST 18589, page 1240
  • #18,708
  • Aug 30, 2007 4:21am Aug 30, 2007 4:21am
Quoting bart
Aus,

please, your value on the _level_stop_modif (on 5TF) are 21 and 4?

Thanks

Bart
yepp
  • #18,709
  • Aug 30, 2007 4:26am Aug 30, 2007 4:26am
  •  bart
  • | Joined Apr 2007 | Status: I want to be a nacho man... | 18 Posts
Quoting Piters
POST 18589, page 1240
Oh sorry I´m moron of blind
  • #18,710
  • Aug 30, 2007 4:28am Aug 30, 2007 4:28am
I have a down sloping right angle triangle on my chart. Probability favours a down movement of about 250 pips but no entry until a clear sign of a break-out. Also a head and shoulders formation on the 30 min. Two bearish signs.

Good morning.
  • #18,711
  • Aug 30, 2007 4:31am Aug 30, 2007 4:31am
i don't mind losing or winning, but please make up ur mind GJ sheeeeeeeeeeesh
  • #18,712
  • Edited 5:27am Aug 30, 2007 4:31am | Edited 5:27am
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  • #18,713
  • Aug 30, 2007 4:35am Aug 30, 2007 4:35am
Quoting Zoran
I have a down sloping right angle triangle on my chart. Probability favours a down movement of about 250 pips but no entry until a clear sign of a break-out. Also a head and shoulders formation on the 30 min. Two bearish signs.

Good morning.
Morning Zoran, what would be your signal? on my charts, it appears we are right at the support line of the triangle, perhaps a break of 20 pips r a 30 min close below?
  • #18,714
  • Aug 30, 2007 4:37am Aug 30, 2007 4:37am
Quoting lilmoe
i don't mind losing or winning, but please make up ur mind GJ sheeeeeeeeeeesh
Good morning lilmoe.

You might as well just hand your money over to me if you don't mind losing! I'll make sure it goes to good use. It's currently consolidating so we just need a be a little patient. It will reveal it's direction soon enough.
  • #18,715
  • Aug 30, 2007 4:40am Aug 30, 2007 4:40am
The short term outlook seems pretty bearish, but I still believe there is a good chance that this is short term noise and that we will see significant upmoves later today or tomorrow. The major pairs GJ, GU, UJ, EU, EJ all showed strong bullish engulfing candles on their respective daily charts.

Now the market may not care and especially if the Dow does not play game this may turn out a case where the chart signal was wrong, but much of the time these bars work on a daily timeframe (James16).

So if had to guess, I'd say GY will go up to daily 5sma @ ~240 - possibly via initial peaks @ 235.50 and 238.80 (alternative this may be top) with retraces in between, before shooting down big time - please note that QQE has crossed down on weekly chart for first time in 3 years!!!
Consistency and patience is everything
  • #18,716
  • Aug 30, 2007 4:41am Aug 30, 2007 4:41am
Guppy today

Short to 231.20-40 then Long to 234.50 then Short the farm for 222.50 target.

Astro
  • #18,717
  • Aug 30, 2007 4:43am Aug 30, 2007 4:43am
Quoting Zoran
Good morning lilmoe.

You might as well just hand your money over to me if you don't mind losing! I'll make sure it goes to good use. It's currently consolidating so we just need a be a little patient. It will reveal it's direction soon enough.

morning Z,

i guess i was right last night when i thought it will be heading down, guess aus gave me some pips when his SL got hit, lol

anyway. i don't mind giving u my money if u use ur strategy, i do charge interest

i would lose money, but that's me, i wouldn't give it to someone else so that they would lose it for me

hope today will turn out good. i'm going long now. this sucker is regecting lots of lines on my charts. see ya on the top of my channel
  • #18,718
  • Aug 30, 2007 4:43am Aug 30, 2007 4:43am
Quoting Trumpcard
Morning Zoran, what would be your signal? on my charts, it appears we are right at the support line of the triangle, perhaps a break of 20 pips r a 30 min close below?
Yes, it's at the bottom of the line. But whichever line it does break expect it to come back to it or nearby. That is the time to enter into the direction of the break. Stop will be within the line so small risk for potentially good profit.
  • #18,719
  • Aug 30, 2007 4:44am Aug 30, 2007 4:44am
Quoting auslanco
short scalp short scalp short scalp

retest the support
Thanks aus... worked for me - might as well make some pips while learning by following the master - cheers mate! You're a most generous gentleman...

  • #18,720
  • Aug 30, 2007 4:46am Aug 30, 2007 4:46am
looks like 4hr candle is trying to close hammer and stochs already overbought.
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