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

  • #49,381
  • Nov 9, 2007 10:32am Nov 9, 2007 10:32am
This thing better bounce back up at the end of day I am about to kill DOW
  • #49,382
  • Nov 9, 2007 10:32am Nov 9, 2007 10:32am
Quoting markam
Will the magic economy fairy show up this afternoon?

Attachment

sorry, wrong fairy

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  • #49,383
  • Nov 9, 2007 10:33am Nov 9, 2007 10:33am
I'll say that lows are in for now (both cable and guppy). This is not a trading recommendation though. More action next week.

If we break 231 then 221 is next but a retrace first.
  • #49,384
  • Nov 9, 2007 10:33am Nov 9, 2007 10:33am
Quoting khmr
can you post this PA file, is it an indicator?

PA, short hand for price action my friend. The only indicators I used for this trade were three MA's (moving averages), 5 period Simple MA applied to Close, 5 period SMA applied to High, and 5 period SMA applied to Low on a 15m trade. Aus has been working on this strategy (but on higher time frames) and has another thread about it, I recommend you check it out and add the MA's to a clear chart (no other indicators at all at first) so you can see how price behaves around this channel, what happens when it breaks the high or low, touches the high or low and then bounces etc..

PS. anyone who is not familiar with PA should take a few hours to look at the James16 price action thread here at FF.
  • #49,385
  • Nov 9, 2007 10:34am Nov 9, 2007 10:34am
Quoting markam
sorry, wrong fairy

Attachment
Markam, your having too much fun today.

Indicators show the past. Price Action "Indicates" the future.
  • #49,386
  • Nov 9, 2007 10:36am Nov 9, 2007 10:36am
Markam, whats your take on this current situation the tooth ferry better show up end of the day or next week before I go up in heaven and strangle it
  • #49,387
  • Nov 9, 2007 10:36am Nov 9, 2007 10:36am
Quoting markam
sorry, wrong fairy

Attachment
wow, thats some quick photoshop work, I'm impressed.

I'd like to see Bernanke in a good ole mexican bullfighters suit.
  • #49,388
  • Nov 9, 2007 10:36am Nov 9, 2007 10:36am
Quoting khmr
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

I have been expecting a big yen move ever since the dollar took a hit earlier in the week. I thought it would be triggered by a move below 112 in UJ, but it looks like as soon as someone pulled the trigger, programed trading took over and everyone piledon.
  • #49,389
  • Nov 9, 2007 10:38am Nov 9, 2007 10:38am
Just came back from enjoying life, wow nice drop.. wasn't expecting it at all. my long was stopped out and it's nice to see many of you happy today There are pips everyday to be made
Trade what you see, not what you think.
  • #49,390
  • Nov 9, 2007 10:38am Nov 9, 2007 10:38am
Quoting markam
sorry, wrong fairy

Attachment
Humble Lifetime Member
  • #49,391
  • Nov 9, 2007 10:41am Nov 9, 2007 10:41am
As the unknowledged daily market traders enter newly short, the bastards of the street will arise to take them out.
  • #49,392
  • Nov 9, 2007 10:42am Nov 9, 2007 10:42am
Quoting karmostaji
Just came back from enjoying life, wow nice drop.. wasn't expecting it at all. my long was stopped out and it's nice to see many of you happy today There are pips everyday to be made
Karmo,

Indeed, let me ask you, do you still believe 251 is in play?
Patience + Humility + Study = Success
  • #49,393
  • Nov 9, 2007 10:44am Nov 9, 2007 10:44am
Quoting karmostaji
Just came back from enjoying life, wow nice drop.. wasn't expecting it at all. my long was stopped out and it's nice to see many of you happy today There are pips everyday to be made


Karmo, I saw your post last night when you entered long. It was a gutsy move, but during the asian session, it looked like you were right on.

Sorry to hear that you got stopped out. I was out of the market and watching with great interest.

Thanks to you and Auslanco for your insight and education!!
  • #49,394
  • Nov 9, 2007 10:44am Nov 9, 2007 10:44am
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.
Gene, As I write down all the predictions and they all come to fruition I hope I have a ? that makes sense. Do you draw trend lines,then go from there so many bars or degrees away from the trend in either direction to get what is expected to happen in the future. I have looked at channels and say 5 bars up and 7 bars down is the usual way a currency moves and what to expect but this is so much more that we do not know what ?? to ask. What do all the lines mean? Thank you for the expert analysis. Nikki
  • #49,395
  • Nov 9, 2007 10:45am Nov 9, 2007 10:45am
Technically for those long term trend traders we are still long, when price broke the 240.69 it made a higher high and we are still at a higher low until 230.28 breaks.

Currently we are at the channel bottom, a good place to buy down to the prior low??????

Below here I'd look at the 61.8 to hold support, and then look to sell on any deep north retraces back towards the broken neck/trend line.

fwiw,
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  • #49,396
  • Nov 9, 2007 10:52am Nov 9, 2007 10:52am
Quoting DutchTrader
Karmo,

Indeed, let me ask you, do you still believe 251 is in play?
by the end of the year? I don't think so.. markam might win this battle
Trade what you see, not what you think.
  • #49,397
  • Nov 9, 2007 10:58am Nov 9, 2007 10:58am
Quoting karmostaji
by the end of the year? I don't think so.. markam might win this battle
I agree, the next few months could be extremely bearish for equities which in turn drags down the Yen crosses
Patience + Humility + Study = Success
  • #49,398
  • Nov 9, 2007 11:00am Nov 9, 2007 11:00am
Quoting Zoran
I'll say that lows are in for now (both cable and guppy). This is not a trading recommendation though. More action next week.

If we break 231 then 221 is next but a retrace first.
l

What did you do to the market? 1000 pip must be looking good on your account, multiply that with lots Do you have expectation to retrace by FIBs? I've cut my shorts in 237's, though knew something large is in the air Feels lot of stress because of it.

Lots of things to learn, gonna leave trading for a couple of weeks to read up more and get a larger timeframe mentality.

Safe trading all,
  • #49,399
  • Nov 9, 2007 11:01am Nov 9, 2007 11:01am
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.
Gene, cannot follow all your posts, guess that i missed many gems.

mind introduce what TA methods you are using, please?

how do those diagonal lines form and tell? Thanks advance.

Have a good weekend to all.
  • #49,400
  • Nov 9, 2007 11:01am Nov 9, 2007 11:01am
Quoting karmostaji
by the end of the year? I don't think so.. markam might win this battle
I'll say neither will be met by the end of the year. That means I win.
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