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

  • #46,361
  • Oct 31, 2007 5:17pm Oct 31, 2007 5:17pm
There is a historical SR line sitting at 241.06 so I'll be building shorts in the 240s. I already have some entries in the 239.90 area. Target could be another 1000+ pips down.

See chart (though there's nothing really important there apart from the purple line sitting at 241.06 (top of the chart). The grey shaded area is also a buildup of resistance. There is a Gann timepoint on 1st/2nd Nov so that could see a reversal.

Z

PS. A break above 241.06 would have my entries reversed for a big move north. At the moment we are inside the brickwall so I'll remain short.
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  • #46,362
  • Oct 31, 2007 5:26pm Oct 31, 2007 5:26pm
Quoting Zoran
There is a historical SR line sitting at 241.06 so I'll be building shorts in the 240s. I already have some entries in the 239.90 area. Target could be another 1000+ pips down.

See chart (though there's nothing really important there apart from the purple line sitting at 241.06 (top of the chart). The grey shaded area is also a buildup of resistance. There is a Gann timepoint on 1st/2nd Nov so that could see a reversal.

Z

PS. A break above 241.06 would have my entries reversed for a big move north. At the moment we are inside the brickwall so I'll remain short.
Exactly!

Besides.... in order for this weekly Head and Shoulder pattern to work we're gonna need a huge drop sometime soon otherwise north we go!
  • #46,363
  • Oct 31, 2007 5:26pm Oct 31, 2007 5:26pm
Quoting karmostaji
If 1h QQE crosses downwards, we should see a decent retracement.
qqe about to cross now
  • #46,364
  • Edited 6:03pm Oct 31, 2007 5:35pm | Edited 6:03pm
Wow, The longs I bought October 14th between 2.4020 and 2.4050 where almost in profit today.
I guess I just need a little bit more patience.

Orca
New voice message: Why are you calling me? If I need you, I'll call you!
  • #46,365
  • Oct 31, 2007 5:36pm Oct 31, 2007 5:36pm
Here is something to consider, looks pretty neat doesn't it? Begining to make sense?
  • #46,366
  • Oct 31, 2007 5:36pm Oct 31, 2007 5:36pm
Quoting KillerWhale
Wow, The longs I bout October 14th between 2.4020 and 2.4050 where almost in profit today.

Orca
Now that is having some patience.
  • #46,367
  • Oct 31, 2007 5:39pm Oct 31, 2007 5:39pm
ok. trying to post chart again
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  • #46,368
  • Oct 31, 2007 5:43pm Oct 31, 2007 5:43pm
Quoting karmostaji
If 1h QQE crosses downwards, we should see a decent retracement.
Are you short karmo? What is your TP?
  • #46,369
  • Oct 31, 2007 5:47pm Oct 31, 2007 5:47pm
Zoran, take a look at the chart I posted, you should be able to duplicate on the daily, all of the angles and time points match, it is a perfect diamond formation, move north could be a big one, and speculating further we should breakdown further north, which means only one thing, something big should happen within next week or two. Something that will have tremendous negative implications
  • #46,370
  • Oct 31, 2007 6:04pm Oct 31, 2007 6:04pm
Quoting gene22
Zoran, take a look at the chart I posted, you should be able to duplicate on the daily, all of the angles and time points match, it is a perfect diamond formation, move north could be a big one, and speculating further we should breakdown further north, which means only one thing, something big should happen within next week or two. Something that will have tremendous negative implications
Sounds and looks good! Now if this would only go back into the 240s so I can add some more shorts!
  • #46,371
  • Oct 31, 2007 6:09pm Oct 31, 2007 6:09pm
Quoting gene22
Zoran, take a look at the chart I posted, you should be able to duplicate on the daily, all of the angles and time points match, it is a perfect diamond formation, move north could be a big one, and speculating further we should breakdown further north, which means only one thing, something big should happen within next week or two. Something that will have tremendous negative implications

gene22,

If you don't mind, could you please explain the significance of the diamond formation?
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  • #46,372
  • Oct 31, 2007 6:13pm Oct 31, 2007 6:13pm
I wish I have the tools that everyone is using on this thread. But since I don't, I rely heavily on everyone's opinion on this forum before I make a trade to confirm what my tool tells me. I have been using the 4xMadeEasy software which I'm still not sure if it was a wise investment. But for now, since I'm stuck with it I thought I'd share what my indicators are telling me to hopefully confirm the bears in this forum. My 240 min (4hr) light turned bearish which is a good indication of a retracement. I'm short at 239.88, my TP is 238.58. (50% retrace from low of 236.96 to high of 240.19=238.58). But I'll exit at 238.88. A close below 239.50 on my 1 min. chart should confirm this. My SL is 240.19. Keeping it close in case it shoots to 240.69. With the bearish news in Japan, I believe we could see a retest of 251 in the coming weeks. I'm just a newbie so take it for what it's worth. Going home now. Happy trading.
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  • #46,373
  • Oct 31, 2007 6:14pm Oct 31, 2007 6:14pm
LOL I said that to Aus this morning do you feel that way from my statement
Quoting charvo
Thanks.

let's wait and see, my feeling is that momentum reading is accurate 70% or so.

btw, GJ trader, i didn't know u have this reading, hoho.
  • #46,374
  • Oct 31, 2007 6:14pm Oct 31, 2007 6:14pm
Hi Aus Bro,

Would appreciate your comments how do u see things after fed cut in the coming sessions.

Thanks
Success has a Thousand Fathers.
  • #46,375
  • Oct 31, 2007 6:21pm Oct 31, 2007 6:21pm
Quoting jovy
I wish I have the tools that everyone is using on this thread. But since I don't, I rely heavily on everyone's opinion on this forum before I make a trade to confirm what my tool tells me. I have been using the 4xMadeEasy software which I'm still not sure if it was a wise investment. But for now, since I'm stuck with it I thought I'd share what my indicators are telling me to hopefully confirm the bears in this forum. My 240 min (4hr) light turned bearish which is a good indication of a retracement. I'm short at 239.88, my TP is 238.58. (50% retrace from low of 236.96 to high of 240.19=238.58). But I'll exit at 238.88. A close below 239.50 on my 1 min. chart should confirm this. My SL is 240.19. Keeping it close in case it shoots to 240.69. With the bearish news in Japan, I believe we could see a retest of 251 in the coming weeks. I'm just a newbie so take it for what it's worth. Going home now. Happy trading.
i hope their system works for you but from people i know who had it and from what i read they are scammers
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #46,376
  • Oct 31, 2007 6:28pm Oct 31, 2007 6:28pm
what are the possibilities of this thing going up over this support 240.17, We have been waiting for a drop for a while know.
Losers Complain, Winners Train! Utah
  • #46,377
  • Oct 31, 2007 6:34pm Oct 31, 2007 6:34pm
AUS says if weekly MOM is down we should have a selling (red) candle...so we need a Fall before weekend....COMMENT on this thought

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Quoting moneymagnet
i hope their system works for you but from people i know who had it and from what i read they are scammers
  • #46,378
  • Oct 31, 2007 6:42pm Oct 31, 2007 6:42pm
Quoting karmostaji
I'm going to make this beast wear every damn short there is, starting with a pink bermuda.
Karmo,

I thought you were into bear lingerie?
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  • #46,379
  • Oct 31, 2007 6:43pm Oct 31, 2007 6:43pm
G'morning,
Daily shows a highly possible retracement down to 237.50 area. If the price reach that level today , the 4hr TF will turn bearish.. It will be a start of a new bearish trend towards the 230 area IMO
  • #46,380
  • Oct 31, 2007 6:44pm Oct 31, 2007 6:44pm
Quoting Mr. G.
gene22,

If you don't mind, could you please explain the significance of the diamond formation?
Here is the thread
http://www.investopedia.com/terms/d/diamondtop.asp

basically there are different types of diamonds, this one, most likely is a big reversal diamond that forms at the top off the trend and signals a reversal. What's so significant about this particular diamond is that it is a geometrically perfect formation, meaning that all of the angles and lines are aligning perfectly, this happens very rarely, and when I say rarely I mean decades, especcialy on such a grand scale as this. But at any rate, this is a possibility, quite attractive I suppose but still a possiblity, nothing more, nothing less. Nothing is guaranteed!!!
Do your analyses and trade according to plan that you make before you make any type of trade
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