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

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

#42,901
Oct 22, 2007 5:30pm Oct 22, 2007 5:30pm

doughboi
| Commercial User | Joined Aug 2007 | 317 Posts

Quoting moneymagnet

Disliked

oopps

Ignored

lol..dont worry dude i got right back in and now im up 20 more pips!

#42,902
Oct 22, 2007 5:35pm Oct 22, 2007 5:35pm

doughboi
| Commercial User | Joined Aug 2007 | 317 Posts

the reason that i thought it might drop some was because that price pattern was a pattern that i see all of the time when we get a lil run in any direction. SO if it doesnt make that drop, i just get right back in when it breaks that lil pattern, which was the 15min 100sma

#42,903
Oct 22, 2007 5:46pm Oct 22, 2007 5:46pm

olacurrency
| Joined Sep 2007 | Status: Trader | 59 Posts

Karmo,

check this out, the 4hr candle just broke the 232.72 fibo.

what do you think.................,a good entry at this point or still be patience?

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The pips is trending for you to catch, just catch it wisely.....

#42,904
Oct 22, 2007 5:48pm Oct 22, 2007 5:48pm

moneymagnet
Joined Apr 2006 | Status: Trader | 2,429 Posts

Quoting doughboi

Disliked

lol..dont worry dude i got right back in and now im up 20 more pips!

Ignored

xcellente'

TRIALS THAT SHAKE SOME, CONFIRM OTHERS!

#42,905
Oct 22, 2007 5:48pm Oct 22, 2007 5:48pm

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

Quoting olacurrency

Disliked

Karmo,

check this out, the 4hr candle just broke the 232.72 fibo.

what do you think.................,a good entry at this point or still be patience?

Ignored

I'll look at the new 1hr momentum in 13 mins, if it turns pretty bullish, then I'll go close to 5sma otherwise I'd be cautious..

Trade what you see, not what you think.

#42,906
Oct 22, 2007 5:59pm Oct 22, 2007 5:59pm

Hakuna Matata
| Commercial User | Joined Jun 2007 | 3,549 Posts

mornin'

#42,907
Oct 22, 2007 5:59pm Oct 22, 2007 5:59pm

haliker
| Joined Sep 2007 | Status: Trader | 210 Posts

Quoting karmostaji

Disliked

I'll look at the new 1hr momentum in 13 mins, if it turns pretty bullish, then I'll go close to 5sma otherwise I'd be cautious..

Ignored

Karmo are you thinking a retracement to the 5sma and then going long, because both signals have popped on the 15 min chart, but its not a clear entry quite yet? Also is there a TL close here(i dont have any on my charts yet

) because this 233 area seems to be holding steady as resistance to a long.

#42,908
Oct 22, 2007 6:02pm Oct 22, 2007 6:02pm

khmr
| Joined Feb 2007 | Status: Trader | 249 Posts

Quoting Hakuna Matata

Disliked

mornin'

Ignored

Morning HM...do you have a bias today for this pair?

#42,909
Oct 22, 2007 6:03pm Oct 22, 2007 6:03pm

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

Quoting haliker

Disliked

Karmo are you thinking a retracement to the 5sma and then going long, because both signals have popped on the 15 min chart, but its not a clear entry quite yet? Also is there a TL close here(i dont have any on my charts yet) because this 233 area seems to be holding steady as resistance to a long.

Ignored

I'm not going nowhere yet, waiting to see something clear before pulling the trigger, but yah looking to go long till 235

Trade what you see, not what you think.

#42,910
Oct 22, 2007 6:04pm Oct 22, 2007 6:04pm

haliker
| Joined Sep 2007 | Status: Trader | 210 Posts

Quoting karmostaji

Disliked

I'm not going nowhere yet, waiting to see something clear before pulling the trigger, but yah looking to go long till 235

Ignored

Karmo am I doing an ok job of reading these charts for the most parts or is there something more I need to add still? I mean I am not having the big wins like HM, but I am also not risking as much or going in as often. Are there any other indicators you are using to help signal entry and exit points?

#42,911
Oct 22, 2007 6:08pm Oct 22, 2007 6:08pm

bmwboyee
| Joined Aug 2006 | Status: Trader | 1,042 Posts

looks like the 1 hr 5SMA has caught up. maybe look to move higher.

#42,912
Oct 22, 2007 6:12pm Oct 22, 2007 6:12pm

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

Quoting haliker

Disliked

Karmo am I doing an ok job of reading these charts for the most parts or is there something more I need to add still? I mean I am not having the big wins like HM, but I am also not risking as much or going in as often. Are there any other indicators you are using to help signal entry and exit points?

Ignored

From what I know, you have recently started trading so keep the pace slow otherwise you'll fall and it might hurt. You are doing fine, just keep on practicing with the indicators and reading charts. It's all about experience

Trade what you see, not what you think.

#42,913
Oct 22, 2007 6:13pm Oct 22, 2007 6:13pm

bmwboyee
| Joined Aug 2006 | Status: Trader | 1,042 Posts

chart. lol, my candles are red not pink, not sure why they look like that.

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#42,914
Oct 22, 2007 6:17pm Oct 22, 2007 6:17pm

haliker
| Joined Sep 2007 | Status: Trader | 210 Posts

Quoting karmostaji

Disliked

From what I know, you have recently started trading so keep the pace slow otherwise you'll fall and it might hurt. You are doing fine, just keep on practicing with the indicators and reading charts. It's all about experience

Ignored

What are you using as an indicator for going long or short? Is it a combo of multiple things, and if so how many charts do you use of a certain TF cuz mine looks like chicken scratch with watercolors right now.

#42,915
Oct 22, 2007 6:21pm Oct 22, 2007 6:21pm

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

Quoting haliker

Disliked

What are you using as an indicator for going long or short? Is it a combo of multiple things, and if so how many charts do you use of a certain TF cuz mine looks like chicken scrath with watercolors right now.

Ignored

I use a cocktail of indicators, fibs, TL's, MA's, auslanco's indicators, S/R levels, and pivot points. It's a lot of indicators but I've got used to them and they can read em easily, but I wouldn't recommend for a newbie to have all of this infront of them because they'll get extremely confused lol. I've got my laptop on and also my PC, so I've got 2 charts open

Trade what you see, not what you think.

#42,916
Oct 22, 2007 6:28pm Oct 22, 2007 6:28pm

birdt
Joined Jul 2007 | Status: Trader | 934 Posts

According to my studies, this type of triangle (tightening range) marked by the thick white wedge represents consolidation in a market and is often followed by a continuation in trend (which is down for us). Although on a relativelt low time frame, MACD also shows negative divergence. On the longer tf's momentum is pointing up, but the above gives me reason to hold out to see how much lower we can go before that move up occurs.

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#42,917
Oct 22, 2007 6:28pm Oct 22, 2007 6:28pm

my2buoys
| Joined Dec 2006 | Status: Trader | 1,556 Posts

The 1H, 30M and 15M are going to have to work their way out of overbought status right now, especially the 1H. The only real support line I see underneath, for price to reasonably retrace to, is the 1H TFT which is currently around 231.70. The 30M TFT and the 15M 50EMA are also underneath price right now, but for the 1H OB status to be worked out I think it will have to drop lower. If price breaches the 1H TFT it could go back down and retest the lows, though I personally think that is improbable. We are finally showing inverted bullish divergence on the 4H chart, which should indicate price is ready to move higher in the direction it is currently heading; upward. The last 4H divergence we just completed moved the market 1000 pips. That probably won't happen this time because of the momentum on long-term TF's showing bearishness. However, 4H divergence is always capable of moving price anywhere from 400 to 700 pips, even in a situation like this, over the next few days. Let's see where price takes us.

M2B

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