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

The daily pivot should be 232.02

the 60 ema providing support on 30m chart , and 60 ema being a resistance in 15m chart,

how many are still holding long?

where do you get your daily pivots from?

http://www.actionforex.com/forex_ana..._200603205734/

I am, longs are safe for now, don't worry

Just have some patience.

karmo,what is the suitable adjusted sl for safety? is it at pivot (232.02)or need more?

Indeed, longs should be safe through the US session

MT4 experts indicators

details are in the doc

Why have you chosen the '60' in your ema when H.M. has
tutored us with the 50ema.

I notice there is only ~1-2 pip dif between the two in the 15 min
and ~11 pips in the 30.

Eager to learn while

sleepinginadumpster

OK guys i am out at b/e it should skyrocket from here!

Asian markets will be up also as they follow the US markets. So I believe this will hit aus and karmo's first target of 234.60 soon.

This might be useful for some of us who are novice / intermediates at this game:

Forex Pivot Points

Pivot points is well known techniques used to trade in financial markets. We will discuss how to apply this great technique to the Forex market, as well as alternative uses for pivot points.

http://www.buzzle.com/img/articleImages/21615-12med.jpg
Enlarge Image
It is useful to have a map and be able to see where the price is relative to previous market action. This way we can see how is the sentiment of traders and investors at any given moment, it also gives us a general idea of where the market is heading during the day. This information can help us decide which way to trade.

Pivot points, a technique developed by floor traders, help us see where the price is relative to previous market action.

As a definition, a pivot point is a turning point or condition. The same applies to the Forex market, the pivot point is a level in which the sentiment of the market changes from "bull" to "bear" or vice versa. If the market breaks this level up, then the sentiment is said to be a bull market and it is likely to continue its way up, on the other hand, if the market breaks this level down, then the sentiment is bear, and it is expected to continue its way down. Also at this level, the market is expected to have some kind of support/resistance, and if price can’t break the pivot point, a possible bounce from it is plausible.

Pivot points work best on highly liquid markets, like the spot currency market, but they can also be used in other markets as well.

Pivot Points

In a few words, pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa.

Why PP work?
They work simply because many individual traders and investors use and trust them, as well as bank and institutional traders. It is known to every trader that the pivot point is an important measure of strength and weakness of any market.

Calculating pivot points
There are several ways to arrive to the Pivot point. The method we found to have the most accurate results is calculated by taking the average of the high, low and close of a previous period (or session).

Pivot point (PP) = (High + Low + Close) / 3

http://www.buzzle.com/editorials/12-9-2005-83584.asp

HI guys, Longs watch out. Market is turning to retest the lows..

wondering if im the only guy shorting here

I'm not , but short seems to be a better idea than long at this moment

ok so london close pivot changed to NY open time and gives 231.62??

Seems to be currently holding up for you longs....

Pivot points:

hourly 232.29

4 hour 232.19

daily 232.02

http://www.actionforex.com/forex_ana..._200603205734/

I am with Karmo... very long on this baby, with stop loss at be (231.80). Free ride 200 pips or nothing.

Pepe

yeah but with dow around , anythin can happen

bless you LOL