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

  • #38,361
  • Oct 9, 2007 4:04pm Oct 9, 2007 4:04pm
Quoting karmostaji
I'll stick with shorts, good luck longs.
Im still with you on shorting this position Karmo. I think this is a "correctional wave" if thats what you want to call it. This is a perfect area to short in at as it is in convergence with resistance. I hope the next 4 hour bar can close where it is or perhaps lower. Only time will tell.
I dream, therefore I become.
  • #38,362
  • Oct 9, 2007 4:07pm Oct 9, 2007 4:07pm
Quoting mike w
Im still with you on shorting this position Karmo. I think this is a "correctional wave" if thats what you want to call it. This is a perfect area to short in at as it is in convergence with resistance. I hope the next 4 hour bar can close where it is or perhaps lower. Only time will tell.
I'll consider getting out of my short if 4H Gann/TFT gives way and 4H candle closes above it.
Trade what you see, not what you think.
  • #38,363
  • Oct 9, 2007 4:08pm Oct 9, 2007 4:08pm
Quoting karmostaji
I'll stick with shorts, good luck longs.
Either the bulls haven't realised we are going down now or I get a slap in the face. However, I have a short term position (days/week(s)) and looking at the 4hr we have only just started.
  • #38,364
  • Oct 9, 2007 4:09pm Oct 9, 2007 4:09pm
Quoting karmostaji
I'll consider getting out of my short if 4H Gann/TFT gives way and 4H candle closes above it.
As I am not familiar with Gann/TFT, could you tell me where this area is? I am still unsure right now as to whether we will see too much more downwards momentum as the daily came in as a pin bar. I think we could possibly see 238 again as a low.
I dream, therefore I become.
  • #38,365
  • Oct 9, 2007 4:10pm Oct 9, 2007 4:10pm
Quoting Zoran
Either the bulls haven't realised we are going down now or I get a slap in the face. However, I have a short term position (days/weeks) and looking at the 4hr we have only just started.
Usually price does this stupid ranging until Friday and then the bulls give up and we'll get our short pips. It has happened several times, it might happen again this week.
Trade what you see, not what you think.
  • #38,366
  • Oct 9, 2007 4:12pm Oct 9, 2007 4:12pm
Quoting mike w
As I am not familiar with Gann/TFT, could you tell me where this area is? I am still unsure right now as to whether we will see too much more downwards momentum as the daily came in as a pin bar. I think we could possibly see 238 again as a low.
239.05

New daily bar momentum on VT is slightly bearish, and honestly this 'pin-bar' is not really valid imo. Let's see how it plays out.
Trade what you see, not what you think.
  • #38,367
  • Oct 9, 2007 4:13pm Oct 9, 2007 4:13pm
Quoting markam
I am expecting the dollar to weaken against all pairs, except possibly the yen. It really isn't related to the stock markets. Instead it would be related to expections for another fed rate cut. The dollar is likely to give up its gains from the past week or so, and weaken prior to the next fed meeting.

I don't know what to expect from the canadian dollar, since the US dollar has already given up its minor gains. It could hold at this level, or strengthen even more. my bet is the canadian dollar will strengthen some more.
thanks Mark you are always such a great help but how do you anticipate high values of asian stock markets in relaion to the dow high close? sorry if i address you with many questions related to the stock market but i'm trying to gather some understanding about the background of your posts.
  • #38,368
  • Oct 9, 2007 4:13pm Oct 9, 2007 4:13pm
i am waiting for QQE 1 hr to cross 50 line down so we will have another 1hr/4hr calls. Hopefully 4 hr QQE doesnot turn bullish.. When?
  • #38,369
  • Oct 9, 2007 4:13pm Oct 9, 2007 4:13pm
Quoting karmostaji
239.05

New daily bar momentum on VT is slightly bearish, and honestly this 'pin-bar' is not really valid imo. Let's see how it plays out.
Thank you Karmo. Why would you consider this pin as not being valid? Other than the fact of traffic beforehand.
I dream, therefore I become.
  • #38,370
  • Oct 9, 2007 4:16pm Oct 9, 2007 4:16pm
daily momentum MT4 also bearish. But the QQE daily still bullish..
  • #38,371
  • Oct 9, 2007 4:17pm Oct 9, 2007 4:17pm
Quoting karmostaji
Usually price does this stupid ranging until Friday and then the bulls give up and we'll get our short pips. It has happened several times, it might happen again this week.
My positions are in so it's up to the market to determine the outcome. I like these trades as I don't need to be around too much. Just the occasional check so less stress.

This spike could mean anything... last gasp for the bulls or perhaps we could see a follow through. Time will tell.
  • #38,372
  • Oct 9, 2007 4:22pm Oct 9, 2007 4:22pm
Quoting karmostaji
239.05

New daily bar momentum on VT is slightly bearish, and honestly this 'pin-bar' is not really valid imo. Let's see how it plays out.
It seems price came back to retest the 61.8 line (of the recent high/low) - check the daily. This could just be a throwback to that line and a failure could signal a fairly large fall. I don't think the bulls will give up that easily so we need to be, in karmo's words, "Patient"
  • #38,373
  • Oct 9, 2007 4:30pm Oct 9, 2007 4:30pm
If you look on the 15 minute timeframe chart, this could possibly be another head and shoulders pattern forming.
I dream, therefore I become.
  • #38,374
  • Oct 9, 2007 4:33pm Oct 9, 2007 4:33pm
i see long signal with 15 min strategy, is that right?
  • #38,375
  • Oct 9, 2007 4:34pm Oct 9, 2007 4:34pm
Quoting mike w
As I am not familiar with Gann/TFT, could you tell me where this area is? I am still unsure right now as to whether we will see too much more downwards momentum as the daily came in as a pin bar. I think we could possibly see 238 again as a low.
It is not a pin bar. it is 'hanging man' - a probable sign of early loss of control by bulls.
Examples of pin bar and hanging man are attached.
Attached Images
  • #38,376
  • Oct 9, 2007 4:36pm Oct 9, 2007 4:36pm
Quoting Zoran
It seems price came back to retest the 61.8 line (of the recent high/low) - check the daily. This could just be a throwback to that line and a failure could signal a fairly large fall. I don't think the bulls will give up that easily so we need to be, in karmo's words, "Patient"
Patience is a beautiful thing when used at the right time, like now
Trade what you see, not what you think.
  • #38,377
  • Oct 9, 2007 4:39pm Oct 9, 2007 4:39pm
Quoting karmostaji
Patience is a beautiful thing when used at the right time, like now
Can be very painful as well when is used at the wrong time :-)
  • #38,378
  • Oct 9, 2007 4:43pm Oct 9, 2007 4:43pm
do u have position mktjong?
  • #38,379
  • Oct 9, 2007 4:53pm Oct 9, 2007 4:53pm
I think there are a short sign here on 60chart

i will put my SL at 239.30 which is above upper BB
and my target will be the lower BB.

any comments ?
Attached Image (click to enlarge)
Click to Enlarge Name: gj60.GIF Size: 34 KB
Trade at your own Risk
  • #38,380
  • Oct 9, 2007 4:53pm Oct 9, 2007 4:53pm
Quoting mktjong
mann .. don't short this pair at the moment, I just went long this pair @238.53 based on my 15 min strategy.
Don't go short before my tp hit, thanks. http://www.forexfactory.com/images/icons/icon10.gif
I think his patience may have run out. jking mktjong
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