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Auslanco 15min GBP/JPY startegy 630 replies
Auslanco-GBP/JPY Strength Indicator strategy 344 replies
My MT4 indicators for Auslanco's strategy 92 replies
Auslanco 15 minute Strategy Oanda FXManager Updates.. 62 replies
Questions About Auslanco's Trades 72 replies
DislikedI'm looking to add to my positions on a retracement to the 222.50 area.Ignored
Dislikedafter long wait today, it started the downward at last. The price is definitely going to touch at least 221.48 (1st support) and then up to 220.50 area.
I'm going to open buy positions when I see a bounce over one of these lines.
I think with this powerful downward movement of UJ, we will have more down movement, but for now, 220.50 is the maximum.
the second downward movement can build a bullish butterfly or bullish crab but I'm not sure where the D point will be. After bounce from 221.48 we will see an up movement up to res 3 (224.07) and from there the second leg of bullish crab or butterfly will be created. I believe if a long leg bullish crab is created, it will be the end of the downtrend and from there the major uptrend up to 241 and 243 will be started.Ignored
Dislikedafter long wait today, it started the downward at last. The price is definitely going to touch at least 221.48 (1st support) and then up to 220.50 area.
I'm going to open buy positions when I see a bounce over one of these lines.
I think with this powerful downward movement of UJ, we will have more down movement, but for now, 220.50 is the maximum.
the second downward movement can build a bullish butterfly or bullish crab but I'm not sure where the D point will be. After bounce from 221.48 we will see an up movement up to res 3 (224.07) and from there the second leg of bullish crab or butterfly will be created. I believe if a long leg bullish crab is created, it will be the end of the downtrend and from there the major uptrend up to 241 and 243 will be started.Ignored
DislikedWe are headed toward daily S1 of 221.48 once GU starts to come down. Don't think we will get much of a bounce. What you are seeing is what u get right now. It may try to get back to 4hr S3 @ 222.42 but it may have a hard time getting there. . .Ignored
DislikedI see the 4hr descending wedge all the way down to 219.60/70 area. Do you think there is a possibility that is may go that far before bouncing back up????Ignored
DislikedI agree with you Quecee. There is too much downward force now to reach much of a higher level than that off of a bounce, IF we even get one. If we do, however, I look to add shorts at that level.Ignored
DislikedYep, we're headed toward 221.48, the question I have is, is there a possibility that we may head toward the end of the descending wedge (overshoot) if we get enough downward momentum and hit 219.60/70 and then bounce back up. . .
If you take a look at the 5 EMA (I actually use Linear Regression Indicator) weekly chart its at 220.30 so it could overshoot and bounce gard from 219.60/70 area just like it did in Aug 07Ignored
DislikedHi Arezab, I agree with you that we will probably see a large bounce at the area of 221.40-50. My question now is why you think we will see the bounce up to the area of 224.07? I agree that, at the moment, that is a firm area of resistance, but in the near future I couldn't see it making that large of a comeback.
Also, at the beginning of your post you stated that it would touch 221.48 and then UP to the 220.50 area. Did you mean a different price, or was 220.50 correct?
Thanks for the input Arezab!Ignored
DislikedHi Mike!,
when I said 224.07, I see it because if the price bounces from 221.48 area, the 224.07 will be around 76.4 fib retracement of today's 224.80 top. That will probably build the start of the second downward movement of the butterfly or crab. And when I said the downtrend will reach to 220.50 area, the maximum point for the second downtrend or the final D point for the butterfly or crab was meant.
I thank you for your attention and if you see any flaw or mistake in my opinion, please tell me, I'll be grateful.
thanksIgnored