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

  • #40,061
  • Oct 15, 2007 3:46pm Oct 15, 2007 3:46pm
Quoting PipChick
I will continue to buy dips because of the uptrend AND the inverse h/s on the daily where the rt shoulder is sitting on the 61.8 fib of the move down from 251.00 area. When the price gets to 241.50 I will exit what longs Ihave left and wait for a break. After the break, I will let it retrace back to 241.50 then buy a dip. If the 241.50 is not breached with 2 or 3 attempts on the 1 hr chart, I will set shorts.

WOW . . . did you really just type what I was thinking?
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  • #40,062
  • Oct 15, 2007 3:49pm Oct 15, 2007 3:49pm
Quoting PipChick
I will continue to buy dips because of the uptrend AND the inverse h/s on the daily where the rt shoulder is sitting on the 61.8 fib of the move down from 251.00 area. When the price gets to 241.50 I will exit what longs Ihave left and wait for a break. After the break, I will let it retrace back to 241.50 then buy a dip. If the 241.50 is not breached with 2 or 3 attempts on the 1 hr chart, I will set shorts.
Way to go Girl!
  • #40,063
  • Oct 15, 2007 3:49pm Oct 15, 2007 3:49pm
Quoting Geppy
WOW . . . did you really just type what I was thinking?
lol..prolly
  • #40,064
  • Oct 15, 2007 3:51pm Oct 15, 2007 3:51pm
Quoting Zoran
Bulls will have a clear run after 241.5 but it will be difficult getting there. The wall is thick and they will need to retreat many times, however, they may also run out of steam and regroup at 231.5.
WOW, did I really post that 6 hours ago?

http://www.forexfactory.com/showthre...56#post1645656
  • #40,065
  • Oct 15, 2007 3:53pm Oct 15, 2007 3:53pm
Quoting Zoran
WOW, did I really say that 6 hours ago?

http://www.forexfactory.com/showthre...56#post1645656
Are you still adding to shorts Zor?
  • #40,066
  • Oct 15, 2007 4:01pm Oct 15, 2007 4:01pm
Quoting PipChick
Are you still adding to shorts Zor?
Short term positions are in and waiting for maturity or reversals. The levels are fairly clear seeing that we all agree.
  • #40,067
  • Oct 15, 2007 4:03pm Oct 15, 2007 4:03pm
Quoting Zoran
Short term positions are in and waiting for maturity or reversals. The levels are fairly clear seeing that we all agree.
Please dont take this in the wrong way but I am wondering why you keep adding to shorts when you saw the inverse h/s on the daily. That is such a powerful pattern so I was just wondering why you keep adding.
  • #40,068
  • Oct 15, 2007 4:06pm Oct 15, 2007 4:06pm
50% retracement from the last move down shown on both the 30M and the 1H charts. The 30M is entering overbought territory on the Stochastics but the 1H is just coming out of oversold territory. These two, along with the 15M, might have to grind away at each other until the 1H gets out of the oversold area before it moves down further.

M2B
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy 30m.gif Size: 28 KB
Click to Enlarge Name: gbpjpy 1h.gif Size: 25 KB
  • #40,069
  • Oct 15, 2007 4:06pm Oct 15, 2007 4:06pm
Quoting PipChick
Please dont take this in the wrong way but I am wondering why you keep adding to shorts when you saw the inverse h/s on the daily. That is such a powerful pattern so I was just wondering why you keep adding.
I'm not taking it the wrong way, just a misunderstanding on your part. I have not added to shorts. My short-term entries were placed a week ago and nothing has changed.
  • #40,070
  • Oct 15, 2007 4:07pm Oct 15, 2007 4:07pm
M2B, always appreciate your charts!
  • #40,071
  • Oct 15, 2007 4:07pm Oct 15, 2007 4:07pm
Quoting Zoran
I'm not taking it the wrong way, just a misunderstanding on your part. I have not added to shorts. My short term entries were placed a week ago and nothing has changed.
Ok, sorry for the misunderstanding.
  • #40,072
  • Oct 15, 2007 4:08pm Oct 15, 2007 4:08pm
Quoting Zoran
I'm not taking it the wrong way, just a misunderstanding on your part. I have not added to shorts. My short-term entries were placed a week ago and nothing has changed.
as well as I Zoran. only problem is the interest piling up.
  • #40,073
  • Oct 15, 2007 4:10pm Oct 15, 2007 4:10pm
Quoting PipChick
Please dont take this in the wrong way but I am wondering why you keep adding to shorts when you saw the inverse h/s on the daily. That is such a powerful pattern so I was just wondering why you keep adding.
Based on what I see, this pair would still go down a bit more, maybe down to 239 before going up again http://www.forexfactory.com/images/icons/icon10.gif
I agree with you, overall the trend is up ..
Good job PipChick, keep us up with your good analysis
  • #40,074
  • Oct 15, 2007 4:10pm Oct 15, 2007 4:10pm
Quoting bmwboyee
as well as I Zoran. only problem is the interest piling up.
Yes..thats what freaks me out is the interest. But this really looks to me like it is in a serious uptrend. If the 241.50 is breached we may see 244.00 before we have any major corrections.
  • #40,075
  • Oct 15, 2007 4:13pm Oct 15, 2007 4:13pm
Quoting mktjong
Based on what I see, this pair would still go down a bit more, maybe down to 239 before going up again http://www.forexfactory.com/images/icons/icon10.gif
I agree with you, overall the trend is up ..
Good job PipChick, keep us up with your good analysis
Thanks Mktjong
  • #40,076
  • Oct 15, 2007 4:13pm Oct 15, 2007 4:13pm
Quoting bmwboyee
as well as I Zoran. only problem is the interest piling up.
The down side to being short but the idea is that pips pay more than interest. I could have closed for several hundred pips (on the multiples) twice already but I am thinking this resitance on the monthly should pay up - otherwise I'll be joining PipChick.
  • #40,077
  • Oct 15, 2007 4:18pm Oct 15, 2007 4:18pm
Quoting Zoran
WOW, did I really post that 6 hours ago?

http://www.forexfactory.com/showthre...56#post1645656

Zoran or PipChick,

Maybe I missed it elsewhere, but what is making up the strong resistance at 241.50? I have fib lines plotted as well as daily, weekly, and monthly pivots, but I don't see much at that level.

Bruce
  • #40,078
  • Oct 15, 2007 4:21pm Oct 15, 2007 4:21pm
I'm trading against someone who I think is the greatest trader in the world.

He thinks this is going up so I would like to be right but I have a plan in case I'm not!

http://www.fxsurfer.com/forums/showt...=2878#post2878
  • #40,079
  • Oct 15, 2007 4:21pm Oct 15, 2007 4:21pm
Quoting brucehvn
Zoran or PipChick,

Maybe I missed it elsewhere, but what is making up the strong resistance at 241.50? I have fib lines plotted as well as daily, weekly, and monthly pivots, but I don't see much at that level.

Bruce
241.50 is the area that back in Feb could not be breached after several attempts at which point it dropped a few thousand pips. So we need to respect that area as a strong resistance. Not only that but if it cannot be breached this time after several attempts, a downside h/s will be formed ont he weekly (extremely powerful) which will most likely cause a huge drop.

This is why we need to wait for a decent break of about 100 pips before entering long on a dip back at 241.50. (if it is breached)
  • #40,080
  • Oct 15, 2007 4:23pm Oct 15, 2007 4:23pm
Quoting bmwboyee
as well as I Zoran. only problem is the interest piling up.

Yikes I can only imagine!
check out my blog: forexmademillionaire dot com
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