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

  • #51,281
  • Nov 23, 2007 10:48am Nov 23, 2007 10:48am
Quoting Zoran
The wedge has potential but normally I would wait for a break before considering to trade it. The support I have on the monthly is all I really need though. The wedge is nice to have as confirmation. At the moment I have 3 entries long on Guppy and 1 on Euppy - looking to add more if it goes lower.
Right.. we need a break to confirm G/J going up, but the bounce off the support line was all I needed and there is a major support lines below that so either this could be it or we might see G/J move lower first.

So far I've got 4 entries long(only 0.4lots total) which are all green now so I put an SL of +1.
  • #51,282
  • Nov 23, 2007 11:00am Nov 23, 2007 11:00am
http://www.spanishpropertyinsight.co.../news-0710.htm

http://www.spanishpropertyinsight.co.../news-0709.htm
  • #51,283
  • Nov 23, 2007 11:04am Nov 23, 2007 11:04am
Quoting msniper
just to remind people with long about my opinion. i mentioned that we gonna see 220.75 to 221.30 today and we already saw 221.25 which is really nice.

now for the people with long or thinking to long i am sure we will have some bull but it wont be that strong . the main thing right now is the daily and weekly closing if its below 222.50 i think u guys better watch out thats mean we broke the weekly trend and we might open with a gap next week


any one agree with me ?
i am up over +80 on one long and just closed another +50. i moved up stop on first to +1 and plan on keeping it targeting 229-230 area. expecting a small bounce fron 222.65 area and i plan on adding another long position on that dip. i showed a chart in an earlier post with my reasoning and fib target
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #51,284
  • Nov 23, 2007 11:07am Nov 23, 2007 11:07am
I see everyone's points on G/J moving up, but I think the move would be limited. We are going to be facing resistance at the 222.80-90 area based on my 1 hour charts. If that goes though, there would be a solid possibility for 224 to be hit. At that level, I would be waiting to look for a strong reversal point- IF 222.80 were to be breached. What is anyone else thinking?

By price breachig these levels, I mean that it breaches and closes above. If so, then I will most likely close out and then reassess my ideas on this pair.
I dream, therefore I become.
  • #51,285
  • Nov 23, 2007 11:16am Nov 23, 2007 11:16am
Quoting moneymagnet
i am up over +80 on one long and just closed another +50. i moved up stop on first to +1 and plan on keeping it targeting 229-230 area. expecting a small bounce fron 222.65 area and i plan on adding another long position on that dip. i showed a chart in an earlier post with my reasoning and fib target
yah i saaw your chart its clear and nice. but i think we shouldn't ignore a weekly chart its much more stronger than 1 or 4 hours.

but any way i might be wrong and your right lets just watch

good luck
  • #51,286
  • Nov 23, 2007 11:29am Nov 23, 2007 11:29am
Quoting msniper
yah i saaw your chart its clear and nice. but i think we shouldn't ignore a weekly chart its much more stronger than 1 or 4 hours.

but any way i might be wrong and your right lets just watch

good luck
yep thats y i closed one and moved the other to +1 just in case. but if we get that hourly close above 222.90 as mike suggested we should be good on the long move, but this is fx so we just make calculated predictions and trade what we see right!!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #51,287
  • Nov 23, 2007 11:33am Nov 23, 2007 11:33am
Quoting mike w
I see everyone's points on G/J moving up, but I think the move would be limited. We are going to be facing resistance at the 222.80-90 area based on my 1 hour charts. If that goes though, there would be a solid possibility for 224 to be hit. At that level, I would be waiting to look for a strong reversal point- IF 222.80 were to be breached. What is anyone else thinking?

By price breachig these levels, I mean that it breaches and closes above. If so, then I will most likely close out and then reassess my ideas on this pair.
The NY session daily pivot is also in the 222.80 area. 223.01 would be a 50% retrace of today's low / high, according to my charts. So I also see 222.80 - 223.00 as a critical area. I'm long, but want to see how price responds to the resistance. Dow is doing well, and Aus' QQE's are pointing north. Hoping to see 223.60 today (1hr 50sma).
  • #51,288
  • Nov 23, 2007 11:34am Nov 23, 2007 11:34am
Msniper, you talked of the weekly chart holding more weight than the 1 and 4 hour charts. This isn't necessarily true. There can be quite a bit of movement in between these larger timeframe charts. I do agree that at the close of the bar, however, there is going to be a lot more 'push' in whatever direction that weekly bar is indicating. That's because a lot of professionals use higher timeframe charts, rather than lower timeframes.

And now, for the reversal. hopefully. Time will tell now in the next few hours if shorts are still good from this point, or if the bulls will take control.
I dream, therefore I become.
  • #51,289
  • Nov 23, 2007 11:35am Nov 23, 2007 11:35am
just looking at the 4hr chart we are approaching the 5 sma 223 area and on the 30 min we are approaching the 50 ema so i decided to close my second for +120 and see if we get a hard bounce or a hard close above. bias is still long at the moment.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #51,290
  • Nov 23, 2007 11:39am Nov 23, 2007 11:39am
Quoting Pips_Cruiser
The NY session daily pivot is also in the 222.80 area. 223.01 would be a 50% retrace of today's low / high, according to my charts. So I also see 222.80 - 223.00 as a critical area. I'm long, but want to see how price responds to the resistance. Dow is doing well, and Aus' QQE's are pointing north. Hoping to see 223.60 today (1hr 50sma).
We are testing 223.00 right now. Thanks for the input Pips cruiser, I didn't really even see the 50%. Could you tell me why you would consider 223.60 to be a significant point? I am just not seeing it, unless you mean that basic area where resistance will, yet again, kick in.
I dream, therefore I become.
  • #51,291
  • Nov 23, 2007 11:42am Nov 23, 2007 11:42am
I really never thought of this, but should I even be posting my thoughts in this thread as I don't use Auslanco's system? I'd like to experiment with it sooner or later, however. I just always posted here because it was a popular thread, which could allow me to gain more ideas about the market from all of you.
I dream, therefore I become.
  • #51,292
  • Nov 23, 2007 11:47am Nov 23, 2007 11:47am
Quoting mike w
I really never thought of this, but should I even be posting my thoughts in this thread as I don't use Auslanco's system? I'd like to experiment with it sooner or later, however. I just always posted here because it was a popular thread, which could allow me to gain more ideas about the market from all of you.
i know aus' system is still practiced here but i think he has abandoned this thread to start another. heres the link to the last page today http://www.forexfactory.com/showthre...=54585&page=67
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #51,293
  • Edited 1:07pm Nov 23, 2007 11:48am | Edited 1:07pm
Quoting mike w
We are testing 223.00 right now. Thanks for the input Pips cruiser, I didn't really even see the 50%. Could you tell me why you would consider 223.60 to be a significant point? I am just not seeing it, unless you mean that basic area where resistance will, yet again, kick in.
I see the 1hr 50sma, 100sma, and 200sma moving averages as always being potential areas of support and resistance. The closest one above is the 50sma at 223.60. It's also fairly close to current price, so to me it makes a nice daily target I can (hopefully) reach without leaving positions open during the weekend. The 100sma is 100 pips higher and possible. If it shoots past 223.60 I might consider aiming for that next. But we still need to get clearly past 223 . . .

  • #51,294
  • Nov 23, 2007 11:59am Nov 23, 2007 11:59am
Right you are, Pips Cruiser. Here is what I am looking at for the moment, which is why I could see a bounce back downwards coming before price breaching this level. Thanks for your reasoning about 223.60 as well. I don't really look at MA's too often other than the ones that I am currently using, which create dynamic fib levels for me. Could you tell me why the 50, 100, and 200 moving average points hold value? Is it just because of the round numbers they hold, which makes people more keen to use them or is it something else entirely?
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I dream, therefore I become.
  • #51,295
  • Nov 23, 2007 11:59am Nov 23, 2007 11:59am
Quoting msniper
i still beleive in bearish

this is 1 hour with Dahl Indicator .

all we need is just to break the 222.50 and every thing will be under control.
I like your chart. Where can I find the Dahl indicator for Metatrader 4? Thank you.
  • #51,296
  • Nov 23, 2007 12:01pm Nov 23, 2007 12:01pm
Quoting Pips_Cruiser
I see the 1hr 50sma, 100sma, and 200sma moving averages as always being potential areas of support and resistance. The closest one above is the 50sma at 233.60. It's also fairly close to current price, so to me it makes a nice daily target I can (hopefully) reach without leaving positions open during the weekend. The 100sma is 100 pips higher and possible. If it shoots past 233.60 I might consider aiming for that next. But we still need to get clearly past 233 . . .


Do you mean 223 or 233?
  • #51,297
  • Nov 23, 2007 12:04pm Nov 23, 2007 12:04pm
Price just closed at this level and so this hour, and into the next, are going to tell whether it moves through or back down. I am still looking for the downside, with this hour closing as a bearish engulfment. If not, as I've said before, I'm going to ride my bike off a cliff.
I dream, therefore I become.
  • #51,298
  • Nov 23, 2007 12:24pm Nov 23, 2007 12:24pm
Quoting Scalper
Do you mean 223 or 233?
Sorry about that. I definitely did mean 223.

  • #51,299
  • Nov 23, 2007 12:26pm Nov 23, 2007 12:26pm
  •  DBE
  • | Joined Apr 2007 | Status: Pippin for a givin' | 45 Posts
Quoting moneymagnet
just looking at the 4hr chart we are approaching the 5 sma 223 area and on the 30 min we are approaching the 50 ema so i decided to close my second for +120 and see if we get a hard bounce or a hard close above. bias is still long at the moment.
way to go MM....keep up the good work...
  • #51,300
  • Nov 23, 2007 12:33pm Nov 23, 2007 12:33pm
Quoting mike w
Right you are, Pips Cruiser. Here is what I am looking at for the moment, which is why I could see a bounce back downwards coming before price breaching this level. Thanks for your reasoning about 223.60 as well. I don't really look at MA's too often other than the ones that I am currently using, which create dynamic fib levels for me. Could you tell me why the 50, 100, and 200 moving average points hold value? Is it just because of the round numbers they hold, which makes people more keen to use them or is it something else entirely?
Dear Mike,

I'm with you, I like fibs because they are proven mathematically to be right , at least more professional than sma 50 100 or 200. I also dont know why everybody is using these ma's. may be as you said they are round numbers, I dont know ...

by the way, is it possible for you to send that indi which you mentioned showing dynamic fibs on the chart. I use static flat fibs but I think yours is more precise because it moves with price.

thanks for help.
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