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

  • #49,361
  • Nov 9, 2007 10:08am Nov 9, 2007 10:08am
Quoting markam
13100 is broken on the dow. We will probably approach 12000 before noon.
...and GJ will approach 219
  • #49,362
  • Nov 9, 2007 10:09am Nov 9, 2007 10:09am
I think a long here is a matter of perspective---there will be a retrace at somepoint. It has to do with money management. My positions are small relative to account size. I assume that when I make an order the market will immediatley move 500 pips against me. I don't think it is unresonable to see 234.75 before we see 227.00.
  • #49,363
  • Nov 9, 2007 10:11am Nov 9, 2007 10:11am
Quoting gene22
I had posted exact same chart last Sunday, this is just with the most recent PA, notice anything interesting, like the purple line where we just stopped? Now if people around here were really trying to learn, they would of asked some questions that I welcomed last week, but no one did. I guess everyone understood?! Ok, good night time to go to my country house for the weekend. This chart tells the story, and will tell the story for weeks, and months to come, entries, exact dates, levels and exits, good luck.
Just trying to learn. Can anyone tell me what does PA mean?
Thanks
  • #49,364
  • Nov 9, 2007 10:14am Nov 9, 2007 10:14am
Quoting shahroodi
hi my budd
congrat
but a question??
in your pic 233.50 is ur sl or tp????
Yeah they are not lined up on the chart. I just moved my s/l to 232.50 locked in for 500 pip now.

It dosen't get any easier than today.
Indicators show the past. Price Action "Indicates" the future.
  • #49,365
  • Nov 9, 2007 10:15am Nov 9, 2007 10:15am
Quoting Pipsqueak
In September and October, the Dow rallied despite negative economic news because of expectation of a rate cut. Now with oil almost at $100/barrel and talk of inflation after the last cut, it seems wallstreet is holding off expectation of another rate cut. The bad news from Citigroup and GM earlier in the week along with Wachovia today seem to have a compounding effect.
Even with another rate cut (which they will most certainly get), higher oil prices, inflation rampant. Great Britain of the 70's and 80's in the USA in 2008.
Humble Lifetime Member
  • #49,366
  • Nov 9, 2007 10:15am Nov 9, 2007 10:15am
Quoting mentone3
Just trying to learn. Can anyone tell me what does PA mean?
Thanks
Price Action
Indicators show the past. Price Action "Indicates" the future.
  • #49,367
  • Nov 9, 2007 10:16am Nov 9, 2007 10:16am
Quoting Pipsqueak
...and GJ will approach 219
I don't think today it will.
  • #49,368
  • Nov 9, 2007 10:19am Nov 9, 2007 10:19am
The dow dropped to 13017 and backed off. There may be another attempt this afternoon, but I don't see 13000 being broken.

GJ on the other hand, looks like it is trying to hit 231.
  • #49,369
  • Nov 9, 2007 10:19am Nov 9, 2007 10:19am
Quoting shahroodi
hi my budd
congrat
but a question??
in your pic 233.50 is ur sl or tp????
Oh I see what you asking now. My s/l at my entry (237.51) was at the 400 sma (238.10)
Indicators show the past. Price Action "Indicates" the future.
  • #49,370
  • Nov 9, 2007 10:20am Nov 9, 2007 10:20am
Quoting FX-Petra
I think a long here is a matter of perspective---there will be a retrace at somepoint. It has to do with money management. My positions are small relative to account size. I assume that when I make an order the market will immediatley move 500 pips against me. I don't think it is unresonable to see 234.75 before we see 227.00.

I have thought about going long to try and catch some of the pips I missed on the way down, just didn't post it. Anyway, I didn't go long, I ended up taking two great short trades because of PA around the 5 SMA channel that Aus introduced. The candles failed to breach the high5sma and were immediately followed by bearish moves, which in turn could have netted 100+ pips, the second one is still running as I type. Take a look at this 15m chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 15m5smahigh.gif Size: 20 KB
  • #49,371
  • Nov 9, 2007 10:21am Nov 9, 2007 10:21am
thinking this afternoon we will see selloff in DOW and GJ close below 230.50
  • #49,372
  • Nov 9, 2007 10:22am Nov 9, 2007 10:22am
Will the magic economy fairy show up this afternoon?

Attached Image (click to enlarge)
Click to Enlarge Name: brandsonsale-store_1974_489884818.jpg Size: 58 KB
  • #49,373
  • Nov 9, 2007 10:22am Nov 9, 2007 10:22am
Quoting markam
I don't think today it will.
I agree, not today, anticipate by the end of next week. Then down to 175-195 by the end of the year.

(Fundamentals don't support these two currencies and logic dictates that we are in for a fall).
Humble Lifetime Member
  • #49,374
  • Nov 9, 2007 10:24am Nov 9, 2007 10:24am
Quoting jarroo
Price Action
Thanks bro !
  • #49,375
  • Nov 9, 2007 10:24am Nov 9, 2007 10:24am
Quoting markam
Will the magic economy fairy show up this afternoon?

Attachment
LOL!!!!!!!!!!!!!!!!!!!!!!!!
  • #49,376
  • Nov 9, 2007 10:25am Nov 9, 2007 10:25am
Quoting birdt
I have thought about going long to try and catch some of the pips I missed on the way down, just didn't post it. Anyway, I didn't go long, I ended up taking two great short trades because of PA around the 5 SMA channel that Aus introduced. The candles failed to breach the high5sma and were immediately followed by bearish moves, which in turn could have netted 100+ pips, the second one is still running as I type. Take a look at this 15m chart:
can you post this PA file, is it an indicator?
  • #49,377
  • Nov 9, 2007 10:27am Nov 9, 2007 10:27am
We just had a bounce off the weekly gann line. I marked it in my rather busy chart with a big yellow arrow.

I am sure as hell not taking a long on it though, not today at least.
Attached Image (click to enlarge)
Click to Enlarge Name: kkk.gif Size: 23 KB
  • #49,378
  • Nov 9, 2007 10:29am Nov 9, 2007 10:29am
Quoting markam
The dow dropped to 13017 and backed off. There may be another attempt this afternoon, but I don't see 13000 being broken.

GJ on the other hand, looks like it is trying to hit 231.
Dare I chant:
210 210 210 210 210 210


Naaayyy, 251.00 is still in play.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #49,379
  • Nov 9, 2007 10:31am Nov 9, 2007 10:31am
Quoting markam
Will the magic economy fairy show up this afternoon?

Attachment
Markam or someone here tell me where this enormous move came from, its was ranging up until 2am last night here and I would've never expected such a big move all of a sudden. Thx
  • #49,380
  • Nov 9, 2007 10:32am Nov 9, 2007 10:32am
Quoting khmr
can you post this PA file, is it an indicator?
PA = Behavior of the price. Look up candlestick patterns. In his chart you can clearly see the spinning tops at the 5SMA high and then it dived.
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