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

  • #30,401
  • Sep 20, 2007 4:55pm Sep 20, 2007 4:55pm
Quoting mrroboto
Gonna wait this out looks like a reversal rather than a retracement.
why a reversal? what reason?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #30,402
  • Sep 20, 2007 4:55pm Sep 20, 2007 4:55pm
got out at +20 pips
  • #30,403
  • Sep 20, 2007 4:57pm Sep 20, 2007 4:57pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting alan003
got out at +20 pips
from a long or a short
  • #30,404
  • Sep 20, 2007 4:59pm Sep 20, 2007 4:59pm
Quoting moneymagnet
why a reversal? what reason?
Not sure yet just looks like a reversal thats why I'm out and still waiting for confirmation, London session will give me confirmation but as for now I'm out.
  • #30,405
  • Sep 20, 2007 4:59pm Sep 20, 2007 4:59pm
Quoting mrroboto
Gonna wait this out looks like a reversal rather than a retracement.
i might agree with that here in a few, we could be fueling for a long.
"Only when the tide goes out will we know who is swimming naked."
  • #30,406
  • Sep 20, 2007 5:02pm Sep 20, 2007 5:02pm
Well I don't favor the longs since H4 QQE is bearish. But what I will be considering is the QQE on M30. When it crosses as bearish this beast will be going down. Until then a few scalps may do the work.
  • #30,407
  • Sep 20, 2007 5:03pm Sep 20, 2007 5:03pm
Quoting MPP
from a long or a short
from short at 230.50

MPP are you still short at 233.03?
  • #30,408
  • Sep 20, 2007 5:03pm Sep 20, 2007 5:03pm
Anyone notice on the 1 hr candle a doji / spinning top formation.
Open and close are w/in 4 pips.

Not a reversal in the longer term downward trend but suggesting a reversal
on the recent retracement / consolidation. For now, I think it supports the
position to stay short. JMO
  • #30,409
  • Sep 20, 2007 5:27pm Sep 20, 2007 5:27pm
Quoting fourxtrader
Anyone notice on the 1 hr candle a doji / spinning top formation.
Open and close are w/in 4 pips.

Not a reversal in the longer term downward trend but suggesting a reversal
on the recent retracement / consolidation. For now, I think it supports the
position to stay short. JMO

I don't know alot about candle patterns, but looking back through the one hour chart looking for those specific candles, I see what you mean.
  • #30,410
  • Sep 20, 2007 5:56pm Sep 20, 2007 5:56pm
Quoting mrroboto
Not sure yet just looks like a reversal thats why I'm out and still waiting for confirmation, London session will give me confirmation but as for now I'm out.
If it is a retracement, it should go to 4H 5sma (230.56), 1H 5sma (230.22), daily pivot, daily 5sma, 50 ema etc...if it goes beyond that, then, it may be a reversal of trend...IMHO
br
  • #30,411
  • Sep 20, 2007 5:58pm Sep 20, 2007 5:58pm
I don't see NO reversal whatsoever, this is just a retracement
Trade what you see, not what you think.
  • #30,412
  • Sep 20, 2007 6:01pm Sep 20, 2007 6:01pm
Quoting karmostaji
I don't see NO reversal whatsoever, this is just a retracement
Do you think we could see a retracement to the daily 5sma.??
  • #30,413
  • Sep 20, 2007 6:01pm Sep 20, 2007 6:01pm
There is a difference between a retrace and a trend change. What I understand from a retrace in this strategy the QQEs sould be looking same way while momentum shows a difference in price will happen. On the other hand, like today, QQE30 is crossed up which points the bull. Untill the QQEs lie on the same side I don't know whether it should be called a retrace. Since QQE on H1 is also about to cross up -just considering this strategy, there may be a reversal in the trend.
  • #30,414
  • Sep 20, 2007 6:01pm Sep 20, 2007 6:01pm
Quoting karmostaji
I don't see NO reversal whatsoever, this is just a retracement
And not only that but we've seen the top. Wish I could have got in there, though.
Gone to a better place
  • #30,415
  • Sep 20, 2007 6:02pm Sep 20, 2007 6:02pm
Quoting bluerose
If it is a retracement, it should go to 4H 5sma (230.56), 1H 5sma (230.22), daily pivot, daily 5sma, 50 ema etc...if it goes beyond that, then, it may be a reversal of trend...IMHO
br
Hindsight is 20/20
  • #30,416
  • Sep 20, 2007 6:03pm Sep 20, 2007 6:03pm
Quoting rodders
Do you think we could see a retracement to the daily 5sma.??
possible if 15m candle closes above 50ema
Trade what you see, not what you think.
  • #30,417
  • Sep 20, 2007 6:05pm Sep 20, 2007 6:05pm
Quoting karmostaji
possible if 15m candle closes above 50ema
Thanks!
  • #30,418
  • Sep 20, 2007 6:07pm Sep 20, 2007 6:07pm
Quoting karmostaji
I don't see NO reversal whatsoever, this is just a retracement


Someone has said these charts are living, breathing entities.

It's interesting how the price movements on the charts
seem to honor certain ma's.

Just touched the 5sma on the 4HR chart. (~230.59) and
bounced down with some authority.

Will that satisfy the retracement consolidation and now
continue back to the bearish direction?
  • #30,419
  • Sep 20, 2007 6:09pm Sep 20, 2007 6:09pm
MY 5 SMA on th 4h is 230.78
MT4 demo downloaded from north financial

May the Pips be with you


Quoting fourxtrader
Someone has said these charts are living, breathing entities.

It's interesting how the price movements on the charts
seem to honor certain ma's.

Just touched the 5sma on the 4HR chart. (~230.59) and
bounced down with some authority.

Will that satisfy the retracement consolidation and now
continue back to the bearish direction?
  • #30,420
  • Sep 20, 2007 6:10pm Sep 20, 2007 6:10pm
Quoting fourxtrader
Someone has said these charts are living, breathing entities.

It's interesting how the price movements on the charts
seem to honor certain ma's.

Just touched the 5sma on the 4HR chart. (~230.59) and
bounced down with some authority.

Will that satisfy the retracement consolidation and now
continue back to the bearish direction?
15m chart has no signals yet of bears continuing downwards, but I have 2 fibs + TL + 50ema all in the same area (230.50), if a 15m candle manages to close above it, then we could see daily 5sma otherwise it will head downwards.
Trade what you see, not what you think.
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