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

Quoting MoForce
well after some thought I've placed another short targeting 223.50 with an S/L of only +1. I've noticed we are currently in a bullish wedge formation AKA: Falling Wedge(as you can see on the chart below) so pretty soon we're gonna have a HUGE breakout to the upside with the next failed attempt to break the 223-224 level

NOTE: This isn't totally confirmed yet...only time will tell, but a break above that wedge resistance line would most likely signal a long
My understanding is we are looking at a descending triangle not a wedge since there is a flat bottom on it for the most part. I would consider this a continuation pattern. That would put the target in the 216 area.


http://stockcharts.com/school/doku.p...nding_triangle_

Shawn
Quoting auslanco
Good obeservation Fat al..

I just want let you know..that most of the traders on this thread have misunderstood the momentum indicator. The exact point where the bar opens is as important as where the direction of the momentum.. I'm doing some extensive studying on the momentum indicator with lots of success so far, on the journal section and if anyone interested in trading on this indicator, I would advise you to go thru that thread.
I appreciate your analysis regarding possible price scenarios in different sessions (tokyo, london etc), but i have seen for example like yesterday , the analysis was completely off. Are these analysis based on momentum too?

Fer
Quoting sswilli99
My understanding is we are looking at a descending triangle not a wedge since there is a flat bottom on it for the most part. I would consider this a continuation pattern. That would put the target in the 216 area.


http://stockcharts.com/school/doku.p...nding_triangle_

Shawn
right... that's why I'm saying we'll need more time to see if get another bounce off the lower trendline again

the first low was at 224.13
second low was at 223.91

we'll have to see what is next.... but either way a break in either trendline should tell the direction anyway
Quoting MoForce
right... that's why I'm saying we'll need more time to see if get another bounce off the lower trendline again

the first low was at 224.13
second low was at 223.91

we'll have to see what is next.... but either way a break in either trendline should tell the direction anyway
Agreed time will tell.
The pair has just breached some critical EMA's on the 15 min. If it can break the daily pivot point of 225.99 then we could be headed to the first resistance at 227.35. Thoughts?
Quoting dsantiago5
The pair has just breached some critical EMA's on the 15 min. If it can break the daily pivot point of 225.99 then we could be headed to the first resistance at 227.35. Thoughts?
Didn't breach... Just stuck the tip in!
Quoting brucehvn
Go to the link in my signature. In the first post of that thread at the bottom is a link to Auslanco's website where you can download the QQE indicators.
I went to Auslanco's website and the QQE file is in ex4 format and not mq4. Do you know where I could find the mq4 format so I can look at the code.

Thanks, Steven
anyone know why the price spike? I just saw this bullish gartley on the 1 hour
Attached Image (click to enlarge)
Click to Enlarge Name: geppy bullish gartley 1hr.gif Size: 21 KB
I like the way things are shaping up... It looks like the daily pivot will be broken in the next few minutes... I have resistance at 227.38, looks like the DOW will have an excellent day today, this will push G/J up. I have been long since 225.45 and will prob exit between 227.15 - 227.30.
If the 1hr 50 EMA breaks then this will definitely hit my TP at 227.35+. 4hr QQE is bullish, I'm looking for the 1hr QQE to go above 50. This will keep this pair moving...
Quoting Trumpcard
anyone know why the price spike? I just saw this bullish gartley on the 1 hour
Could it be the support held because the LONGS are very greedy for TRIPLE INTEREST Payout in less then 40 hours.

It is also going through the retraces perfectly, which allows for those Longs to let the retrace up play out, into the area everyone is expecting, then they gladly recieve their interest payment at close of candle 5pm Wed NY time, then release those Longs and add shorts to the soon coming break of 219.

This is the pattern, shorts drop to bottom first of the week, longs pick up for the easy money, then get paid Wednesday, and the price keeps coming lower after interest payments and market sentiment.

I am expecting a move up to the 230 with a possible of 232 max, then will see a nice test of the 220 area, just maybe this week will be the beginning of the meltdown.

This is just my simple opinion.

Ken
Quoting dsantiago5
If the 1hr 50 EMA breaks then this will definitely hit my TP at 227.35+. 4hr QQE is bullish, I'm looking for the 1hr QQE to go above 50. This will keep this pair moving...
it's coming up on the daily 5sma(c) @ 266.62
Quoting DaddyWarbuck
it's coming up on the daily 5sma(c) @ 266.62
I hope so. LOL

I was thinking of the Weekly 5SMA at 232, but 266, I AM LONGING NOW>

Ken
http://www.fxsurfer.com/forums/showt...p?t=19&page=19
Quoting steven723
I went to Auslanco's website and the QQE file is in ex4 format and not mq4. Do you know where I could find the mq4 format so I can look at the code.

Thanks, Steven
The person who wrote those indicators did not supply the source code.

Bruce
hey guys if you are long watch out for the upper trendline on the 4 hour triangle that is forming. this could very well be the last touch before breaking the bottom. if it does break the upper line then we will have a very good long trade.

Shawn

edit: we are also at the 50% fib and the daily 5 sma close
Quoting monarch
I hope so. LOL

I was thinking of the Weekly 5SMA at 232, but 266, I AM LONGING NOW>

Ken
I agree. I'm long, first TP is 227.35 my second TP will be at 229.75. If I see signs of a reversal then I will obviously close my positions. Off to bed, I'm on Eastern time here in good ol' Jersey.
any open trade anyone?
Quoting gau2902
any open trade anyone?
You know what happens to Lemmings right?
Lemming Forex! The Way to Trade....
Possible price action for this month (weekly charts)
Attached Image
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