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

  • #48,441
  • Nov 7, 2007 8:29am Nov 7, 2007 8:29am
look at the last 7 candles on this daily chart. It is trading sideways until the trigger occurs.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpydaily3.gif Size: 20 KB
  • #48,442
  • Nov 7, 2007 8:31am Nov 7, 2007 8:31am
Quoting FxMt
Yeah, I am allready loaded
Nice "gift" for my pocket
... dancing arround 50 retraco and gone right through
... not yet , push baby push
... and done
  • #48,443
  • Nov 7, 2007 8:34am Nov 7, 2007 8:34am
Quoting ovaforty
look at the last 7 candles on this daily chart. It is trading sideways until the trigger occurs.

Great chart.
But what trigger?
  • #48,444
  • Nov 7, 2007 8:35am Nov 7, 2007 8:35am
Quoting karmostaji
my TP is whenever I see a trend change/reversal until then the trade will be open.
why couldnt i PM you?

i think you should just put that in your signature to save yourself some time & possible stress dude..

& thanks alot for your patience in handling us noobs, i don't wanna pack the thread and write my thank-you poem here but to sum it up, you're an angel
  • #48,445
  • Nov 7, 2007 8:36am Nov 7, 2007 8:36am
Quoting markam
The market should have already priced in the opening drop of the dow. if the stock market continues down after opening, you will see GJ follow.

Futures are -127 right now, so we will see a big drop at opening. My guess is that the dow will head down to the 13500 area and hang there until after the petroleum report.
The Dec Crude future is 1.00 off its overnight record high of 98.61 and holding at its 5m 200ema
Trading Levels with WRBs
  • #48,446
  • Nov 7, 2007 8:37am Nov 7, 2007 8:37am
Quoting Poocher
Great chart.
But what trigger?

Was it the Mo14 crossing down over the 10Mo...ya gotta love that 14 momentum!...or was it something else?
  • #48,447
  • Nov 7, 2007 8:37am Nov 7, 2007 8:37am
Possible double bottom @ 50% fibo

http://img165.imageshack.us/img165/103/gjsu6.gif
Trade what you see, not what you think.
  • #48,448
  • Nov 7, 2007 8:38am Nov 7, 2007 8:38am
Quoting Poocher
Great chart.
But what trigger?
What trigger? I dont know. trade is in both directions until it happens. The traders who study the time frames here can shed more light on it. The big boys love to hit tight stop losses of late (weak) shorts from the newbies who chase a downmove. I have seen this many times.
  • #48,449
  • Nov 7, 2007 8:38am Nov 7, 2007 8:38am
Would it be safe to short now?
  • #48,450
  • Nov 7, 2007 8:43am Nov 7, 2007 8:43am
Quoting ovaforty
What trigger? I dont know. trade is in both directions until it happens. The traders who study the time frames here can shed more light on it. The big boys love to hit tight stop losses of late (weak) shorts from the newbies who chase a downmove. I have seen this many times.
I see.
So maybe Karmo's double bottom could break it out to the upside. Shoot...everything was looking so obviously negative!...now we have to think some more.
  • #48,451
  • Nov 7, 2007 8:43am Nov 7, 2007 8:43am
Quoting Islander
The Dec Crude future is 1.00 off its overnight record high of 98.61 and holding at its 5m 200ema

That will change after the petroleum report. I expect upwards of a 10 million barrel draw. This should kick WTI crude over $100/barrel, with all kinds of potential fireworks after that. My guess is a spike down in the dollar value, followed by a spike up later today.

If we don't have a big drawdown, we will also see some fireworks, I just don't know what kind.
  • #48,452
  • Nov 7, 2007 8:44am Nov 7, 2007 8:44am
Hey Karmo would you mind explaining some of the importance of the double bottom on a chart. Also are you still mainly just using 1hr and greater TF?
  • #48,453
  • Nov 7, 2007 8:44am Nov 7, 2007 8:44am
Quoting Kain
Would it be safe to short now?
Well, look at the 15min Aus strategy, what do you see? A short?
  • #48,454
  • Nov 7, 2007 8:46am Nov 7, 2007 8:46am
Quoting haliker
Hey Karmo would you mind explaining some of the importance of the double bottom on a chart. Also are you still mainly just using 1hr and greater TF?
I use 1h TF and up, anything less is just noise to me. Regarding double bottom, do a search on google and you'll find hundreds of links that explain 10x better than I will.
Trade what you see, not what you think.
  • #48,455
  • Nov 7, 2007 8:47am Nov 7, 2007 8:47am
238.28 is the Weekly pivot

once 1H QQE crosses upwards, longs will be much safer IMO
Trade what you see, not what you think.
  • #48,456
  • Nov 7, 2007 8:47am Nov 7, 2007 8:47am
Quoting karmostaji
I use 1h TF and up, anything less is just noise to me. Regarding double bottom, do a search on google and you'll find hundreds of links that explain 10x better than I will.
I am going to create a template for you with that as your standard explanation LOL. Good morning all BTW.
  • #48,457
  • Nov 7, 2007 8:49am Nov 7, 2007 8:49am
Quoting haliker
I am going to create a template for you with that as your standard explanation LOL. Good morning all BTW.
That's how I learned, I just kept reading and practicing. Nobody taught me nor told me what anything means, education and experience are your best mentors
Trade what you see, not what you think.
  • #48,458
  • Nov 7, 2007 8:54am Nov 7, 2007 8:54am
Can anyone tell me why is my DJI chart is freezing at 13644.0 ???

What is going on over there at NYSE?
Attached Image (click to enlarge)
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  • #48,459
  • Nov 7, 2007 8:54am Nov 7, 2007 8:54am
Quoting Malaysia
Can anyone tell me why is my DJI chart is freezing at 13644.0 ???

What is going on over there at NYSE?
nothing, that broker you are using is not open or something. DOW is open and currently -114
Trade what you see, not what you think.
  • #48,460
  • Nov 7, 2007 8:55am Nov 7, 2007 8:55am
A small bounce from 1H gann hilo, 2nd try should take it out.
Trade what you see, not what you think.
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