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

  • #46,621
  • Nov 1, 2007 10:59am Nov 1, 2007 10:59am
Do you agree with the aspect of just assessing your own chart since at the end of the day you are the only one who needs to be answered to in regards to your indivdual trading?
  • #46,622
  • Nov 1, 2007 11:01am Nov 1, 2007 11:01am
Hi M2B
Thanks. I would not open a new trade since I have to leave for work.
But I would place a little wider SL in my present short and hope for the
best.
Senbanda
  • #46,623
  • Nov 1, 2007 11:01am Nov 1, 2007 11:01am
4HR candle did not close below 5SMA Low wonder whats going to happen
  • #46,624
  • Nov 1, 2007 11:02am Nov 1, 2007 11:02am
Quoting vinesh2
4HR candle did not close below 5SMA Low wonder whats going to happen
can you post a chart? I am blind with no chart at this time.
  • #46,625
  • Nov 1, 2007 11:04am Nov 1, 2007 11:04am
My view: 1H pins on all yen pairs, some usd pairs, eur/aud, gold/silver and dow. Eur/gbp looks like it going to continue heading down. I'll be watching how the dow reacts.

I'm still learning, so this is just an observation.

-Paul
  • #46,626
  • Nov 1, 2007 11:05am Nov 1, 2007 11:05am
possible 4hr 5sma retracement
Trade what you see, not what you think.
  • #46,627
  • Nov 1, 2007 11:06am Nov 1, 2007 11:06am
Quoting Zoran
Why 236.5? I'm blind and can't see anything there.
Zoran, I see that level as a pshycological level of last defense(only for today), the price was falling violentle when I wrote this, there is a a monthly pivot at 236.92, weekly r1 at 236.61 4hr 50 ema at 236.80, 4hr 100ema 236.35, 4hr 200 ema 235.91, also if you plot the sma's you'll see that it looks like a wall, that whole area is so congested. 236.50 is a round psychological number and on days like this it often respects round numbers. Anyhow, come on baby, more shorts at 240, climb, baby climb
lol, I think this is my greed talking not good, going to the theatre for 5 hours, time to remain calm, lol
  • #46,628
  • Nov 1, 2007 11:07am Nov 1, 2007 11:07am
Quoting haliker
Do you agree with the aspect of just assessing your own chart since at the end of the day you are the only one who needs to be answered to in regards to your indivdual trading?
It becomes difficult trying to follow several different charts from the 4H TF on up. Everybody should have the same info from 1H on down. Fibs should be the same on any platform as well. Trend lines might vary to a degree but should basically line up. Your charts should definitely be the ones you trust the most because you are using them for your entries and exits. Why would you trust someone else's charts more than your own? If you don't trust your charts move to another platform and find some you like. You can gain a lot of helpful insight on a thread like this but, yes, in the long run, it's all about you and your own charts.

M2B
  • #46,629
  • Nov 1, 2007 11:09am Nov 1, 2007 11:09am
Karmo, retracement on the upside or downside looks like this thing is going back up again
  • #46,630
  • Nov 1, 2007 11:11am Nov 1, 2007 11:11am
I think this could be a 4H 5SMA retrace. The new 1H candle is only 10 minutes old and we've already hit the 1H 5SMA.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpjpy 4h.gif Size: 26 KB
  • #46,631
  • Nov 1, 2007 11:12am Nov 1, 2007 11:12am
Quoting karmostaji
possible 4hr 5sma retracement
Karmo when analyzing this today, the market as a whole has really just been a big news trade IMO. Now its starting to settle itself and I am starting to think a push down is more likely rather than unlikely. This afternoon session should push some action, but I dont think that we will see any 150-250 pip movements throughout the remainder of the day as there is not enough force leading up to tomorrows news.
  • #46,632
  • Nov 1, 2007 11:14am Nov 1, 2007 11:14am
Quoting haliker
The GBP should start to push down, but isnt there equaly negativity surrounding the JPY which could also hinder the exchange rate?
look at the price now, do you see pound pushing higher or lower, it's about to make a new high, I'm leaving will expalin later, that's why I said a yo-yo before
look for a complete analyses on sunday, go to go
  • #46,633
  • Nov 1, 2007 11:17am Nov 1, 2007 11:17am
Quoting gene22
look at the price now, do you see pound pushing higher or lower, it's about to make a new high, I'm leaving will expalin later, that's why I said a yo-yo before
look for a complete analyses on sunday, go to go
Hey gene definetly look forward to reading on Sunday. and thanks in advance for what I am sure will be a very in depth outlook on the G/J
  • #46,634
  • Nov 1, 2007 11:18am Nov 1, 2007 11:18am
Quoting gene22
look at the price now, do you see pound pushing higher or lower, it's about to make a new high, I'm leaving will expalin later, that's why I said a yo-yo before
look for a complete analyses on sunday, go to go
Gene, I am glad you joined this thread. You are a welcome addition.


If you had been posting earlier, I apologize. The last couple of days is the first time I recall seeing your contributions.
  • #46,635
  • Nov 1, 2007 11:20am Nov 1, 2007 11:20am
How high is this retracement expected to go?
  • #46,636
  • Nov 1, 2007 11:24am Nov 1, 2007 11:24am
Quoting Kain
How high is this retracement expected to go?
It better stop here, or I start closing positions. I just entered another short, so it better.
  • #46,637
  • Nov 1, 2007 11:26am Nov 1, 2007 11:26am
Quoting markam
It better stop here, or I start closing positions. I just entered another short, so it better.
Now Markam werent we just talking about not using emotion. LOL. I hate the aspect of not being able to use any type of charting software right now.
  • #46,638
  • Nov 1, 2007 11:28am Nov 1, 2007 11:28am
Quoting haliker
Now Markam werent we just talking about not using emotion. LOL. I hate the aspect of not being able to use any type of charting software right now.

Sometimes you have be very stern to the forex market to get it to do what you want. So far it seems to be working.
  • #46,639
  • Nov 1, 2007 11:29am Nov 1, 2007 11:29am
Quoting markam
Sometimes you have be very stern to the forex market to get it to do what you want. So far it seems to be working.

Yep, it is, I always feel good when Markam starts talking to the market
  • #46,640
  • Nov 1, 2007 11:33am Nov 1, 2007 11:33am
That might have been it. Price touched the 4H 5SMA (around 240.05 on my chart) which is also the 61.8 Fib of the last move down and also the TFT level on the 30M Chart. Some good confluence there. I was able to re-enter at 240.18.

M2B
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpjpy 30m.gif Size: 28 KB
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