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

  • #30,281
  • Sep 20, 2007 10:47am Sep 20, 2007 10:47am
Quoting brok
Sure it has.. You may put levels like 30 and 70 just we use 50 level... That is one of the things Aus has mentioned before
Thats a little concern.. but we got a fresh 4hr cross over.. No 4hr retracement shown for the next 4hrs. I will go short again on the 1hr retraco. with 100 pip SL.
  • #30,282
  • Sep 20, 2007 10:49am Sep 20, 2007 10:49am
Quoting karmostaji
looks like 1hr 5sma retrace to me
The U/J and E/J both retraced to the 1hr 5sma and are holding just below.
  • #30,283
  • Sep 20, 2007 10:51am Sep 20, 2007 10:51am
i know this is not the room for this, but just a thought. I have been watching as this developed and it is really looking like we are in a wave 4 consolidation of the elliott wave, which is very normal for waves 2 and 4. if we break and close below the shaded area we could be in full wave 5 mode for at least a 1000 pips. any thoughts.

ps.
i am not an elliotician, just looking for more confirmation for longerterm short.
Attached Image (click to enlarge)
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TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #30,284
  • Sep 20, 2007 10:52am Sep 20, 2007 10:52am
Not too worried about the retrace, especially if this hourly candle closes as a pin. Will wait for that and see, and then add more short if it does.
I dream, therefore I become.
  • #30,285
  • Sep 20, 2007 10:52am Sep 20, 2007 10:52am
this has to go up a bit more to fuel our target of 228.5 ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #30,286
  • Sep 20, 2007 10:54am Sep 20, 2007 10:54am
While we are waiting for this thing to take another tumble, I'd like to show you what I use sometimes to pick out major retracements. Its a simple 14 period money flow index.

When it breaches the 20 or 80 level it usually a good sign of reversal is around the corner. As you can see in this screenie, we have not breached 20 level so there is a good chance of trend continuation rather than a major retracement or reversal. I use this more than momentum because, frankly, I haven't learn to use momentum well yet.
Attached Image (click to enlarge)
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  • #30,287
  • Sep 20, 2007 10:55am Sep 20, 2007 10:55am
the price bounced of the support2 of NY daily pivots.. Nothing unusual.. The Profit target is Support 3. price will consolidate before the next down move.
Attached Image (click to enlarge)
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  • #30,288
  • Sep 20, 2007 11:03am Sep 20, 2007 11:03am
Quoting moneymagnet
i know this is not the room for this, but just a thought. I have been watching as this developed and it is really looking like we are in a wave 4 consolidation of the elliott wave, which is very normal for waves 2 and 4. if we break and close below the shaded area we could be in full wave 5 mode for at least a 1000 pips. any thoughts.

ps.
i am not an elliotician, just looking for more confirmation for longerterm short.
Like I've said before, the fundamentals are there to justify such a large downward move. I think it will occur within the next two weeks. It's reassuring to see some technicals to support my analysis.
  • #30,289
  • Sep 20, 2007 11:07am Sep 20, 2007 11:07am
Quoting karmostaji
looks like 1hr 5sma retrace to me
bro.. what are the chances this could go down to 228.. I was manged to get in @ 230 I need that 200pips to pay my mortgage payment
  • #30,290
  • Sep 20, 2007 11:07am Sep 20, 2007 11:07am
Quoting auslanco
MT4 -FXDD(just for the charts)

My broker is FXCM
tks aus
  • #30,291
  • Sep 20, 2007 11:09am Sep 20, 2007 11:09am
Quoting auslanco
bro.. what are the chances this could go down to 228.. I was manged to get in @ 230 I need that 200pips to pay my mortgage payment
LOL...I need that 200 pips to make my lamboghini payment.
  • #30,292
  • Sep 20, 2007 11:10am Sep 20, 2007 11:10am
hello all!

Hi Majd, I'm from Amman/Jordan. u?

by the way, momentum on 15m chart sure is scary... i will exit my shorts, and will reload them again as soon as i get a better reentry, i don't mind losing pips, but sure like to hold on to the ones i made
  • #30,293
  • Sep 20, 2007 11:10am Sep 20, 2007 11:10am
i need 200pips to make up for what i lost last week
  • #30,294
  • Sep 20, 2007 11:11am Sep 20, 2007 11:11am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Aus your daily pivot on that chart looks different to mine, we are on US open time now and what is your pivot at.

regards

MPP
  • #30,295
  • Sep 20, 2007 11:11am Sep 20, 2007 11:11am
Quoting auslanco
bro.. what are the chances this could go down to 228.. I was manged to get in @ 230 I need that 200pips to pay my mortgage payment
I'm expecting it to go down till low 228's, so 228.00 might be possible but i'm getting out at .40, pay for my mortgage too while you're at it bro
Trade what you see, not what you think.
  • #30,296
  • Sep 20, 2007 11:14am Sep 20, 2007 11:14am
darn yen pairs are going up as we speak...

i am expecint uj to bounce from 114.70,
so we can be more comfortable for our short positions...
give me my pips back...
  • #30,297
  • Sep 20, 2007 11:15am Sep 20, 2007 11:15am
Quoting auslanco
bro.. what are the chances this could go down to 228.. I was manged to get in @ 230 I need that 200pips to pay my mortgage payment
Aus, Karmo, The 1hr 5sma is now at 230.12. Is that it for the retrace, or are we still waiting for it to go up to the 230.50 area.

Trying to learn, Thanks
  • #30,298
  • Sep 20, 2007 11:15am Sep 20, 2007 11:15am
i'm sure glad i exited my shorts...

by the way, this looks like a 4h retraco to 231 on alpari, here's a chart


Attached Image (click to enlarge)
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  • #30,299
  • Sep 20, 2007 11:16am Sep 20, 2007 11:16am
karmo said it would go up to 230.50, I have half a lot waiting at 230.40.
  • #30,300
  • Sep 20, 2007 11:17am Sep 20, 2007 11:17am
Quoting karmostaji
I'm expecting it to go down till low 228's, so 228.00 might be possible but i'm getting out at .40, pay for my mortgage too while you're at it bro

u don't have a mortgage payment...: you're just trying to make up for the pips i made out of u last week
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