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

  • #22,401
  • Sep 6, 2007 7:07am Sep 6, 2007 7:07am
Is this deja vu all over again? Pin bars on the 30M Chart right at 231.90. The one difference between now and 12 hours ago is that the 1H QQE is crossed down now and it wasn't on the first pin bar.

M2B
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  • #22,402
  • Sep 6, 2007 7:08am Sep 6, 2007 7:08am
does this force the GBP/JPY to move down by it being -24[


quote=brucehvn;1579504]Dow futures are -24 right now.[/quote]
  • #22,403
  • Sep 6, 2007 7:09am Sep 6, 2007 7:09am
Quoting maheswara
looks like 231.90 is a strong support , is it true the more times a support line is hit the stronger it becomes ?

Think about it . . the more times it hits, the more time it has proven to have failed, thus more traders feel confident about being biased to failing to break the support again. So it get's harder each time . . . but it will be broken sooner or later with the proper reinforcement . . . .
  • #22,404
  • Sep 6, 2007 7:15am Sep 6, 2007 7:15am
Quoting turn1to100
does this force the GBP/JPY to move down by it being -24[


quote=brucehvn;1579504]Dow futures are -24 right now.
[/quote]

Based upon what I have been seeing, the forex market prices in the premarket price before the stock market opens. Both yesterday and last week, we had big numbers in the dow premarket, but GJ did not react to the market opening gap.
  • #22,405
  • Sep 6, 2007 7:15am Sep 6, 2007 7:15am
Momentum on all TF's is basically pointing down. Would like to see a 1H retrace up to 232.80 area or even a 30M retrace up to 232.50 area in order to enter short, but I'm not sure momentum will allow it. I wasn't patient yesterday and got a terrible entry on a short causing me to lose money, and I HATE to lose money. 'Patience, my friend, patience'. Thank you, Karmo, my brother.

M2B
  • #22,406
  • Edited 7:42am Sep 6, 2007 7:24am | Edited 7:42am
last 5 times it hits 231.89 , the bounce (or retracement ) kept getting bigger n bigger , n we saw it failed to break 231.89 again just now so the retracement should be bigger than the last time since the support is stronger now ... looking at the trendline of all previous bounces , we have 234 area as next bounce maximum , which is almost impossible ... any comment on this ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #22,407
  • Sep 6, 2007 7:24am Sep 6, 2007 7:24am
Quoting maheswara
looks like 231.90 is a strong support , is it true the more times a support line is hit the stronger it becomes ?
I'll till something so simple
this point 231.92 has the monthly pivot and also wekly pivot above it 232.23 and 232.11 ...
not once of the last time we go to this point the candle close under the pivot points
So we need only once (4h candle at least) close down this pivot point 232.11 and it wouldn't come above it again.
else that it will keep go up again
If you count on hope in any trade ……. Get out of it
  • #22,408
  • Sep 6, 2007 7:32am Sep 6, 2007 7:32am
Quoting my2buoys
Momentum on all TF's is basically pointing down. Would like to see a 1H retrace up to 232.80 area or even a 30M retrace up to 232.50 area in order to enter short, but I'm not sure momentum will allow it. I wasn't patient yesterday and got a terrible entry on a short causing me to lose money, and I HATE to lose money. 'Patience, my friend, patience'. Thank you, Karmo, my brother.

M2B

relax my friend , your ok i am holding a short @ 233.50 with a stop at 235.00 since friday it will come down if not this week than early next week take a look at the daily once it brakes this 232.00 area down down and down some more
  • #22,409
  • Sep 6, 2007 7:34am Sep 6, 2007 7:34am
HOW did u get your pivots
Quoting mandoaddam
I'll till something so simple
this point 231.92 has the monthly pivot and also wekly pivot above it 232.23 and 232.11 ...
not once of the last time we go to this point the candle close under the pivot points
So we need only once (4h candle at least) close down this pivot point 232.11 and it wouldn't come above it again.
else that it will keep go up again
  • #22,410
  • Sep 6, 2007 7:45am Sep 6, 2007 7:45am
It's good news, looks like dow will UP today. Doing 1 min scalping and went long earlier .. looks promising so far .. started to like it
  • #22,411
  • Sep 6, 2007 7:45am Sep 6, 2007 7:45am
Hi guys,

this is the best thread i've ever read, thanks to all. Just have a question how you calculate your stops, like always 100 stop or do you use the GannHiLo + 10? But in whcih tf then?

Thank you all...

Eugen

Keep up the great work
  • #22,412
  • Sep 6, 2007 7:55am Sep 6, 2007 7:55am
what's with the sudden downward spike??

was there some news?
  • #22,413
  • Sep 6, 2007 7:55am Sep 6, 2007 7:55am
Quoting eugen3000
Hi guys,

this is the best thread i've ever read, thanks to all. Just have a question how you calculate your stops, like always 100 stop or do you use the GannHiLo + 10? But in whcih tf then?

Thank you all...

Eugen

Keep up the great work
for the 4hr/1hr strategy it 100 pips from the 5 SMA retracement entry
  • #22,414
  • Sep 6, 2007 7:56am Sep 6, 2007 7:56am
Quoting intelmaster
what's with the sudden downward spike??

was there some news?
Yehh. British Queens car had a flat tyre.
  • #22,415
  • Sep 6, 2007 7:57am Sep 6, 2007 7:57am
Quoting mktjong
It's good news, looks like dow will UP today. Doing 1 min scalping and went long earlier .. looks promising so far .. started to like it
it will make the dow go down. The market really wants a rate cut, and they are starting to accept that they won't get one.
  • #22,416
  • Sep 6, 2007 7:57am Sep 6, 2007 7:57am
Quoting auslanco
Yehh. British Queens car had a flat tyre.


dude, she's been having lots of trouble with that darn RR
  • #22,417
  • Sep 6, 2007 7:58am Sep 6, 2007 7:58am


made a quick +15 pip profit going long once it went down to the 232 area.. lol.. (took like what.. 30seconds?).. this beast is scary.

i was reminded of VishalJ's post..



Quoting auslanco
Yehh. British Queens car had a flat tyre.
  • #22,418
  • Sep 6, 2007 7:59am Sep 6, 2007 7:59am
Quoting intelmaster
what's with the sudden downward spike??

was there some news?

Probably Trichet speech
COT: The precious data ignored
  • #22,419
  • Sep 6, 2007 8:00am Sep 6, 2007 8:00am
Despite all the news and views, I think the set up is there based on the 4h down and confirmed, the 1 hour crossed and confirmed.

Nothing is sure in this world.. hope i haven't misread the indicators though..
  • #22,420
  • Sep 6, 2007 8:01am Sep 6, 2007 8:01am
Quoting intelmaster


made a quick +15 pip profit going long once it went down to the 232 area.. lol.. (took like what.. 30seconds?).. this beast is scary.

i was reminded of VishalJ's post..
If you do that again.. you could loose 150
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