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

  • #51,721
  • Nov 27, 2007 1:35pm Nov 27, 2007 1:35pm
What a tiring day, I hope everyone has been making some sweet pips, I missed the action today but let's see whats up with GJ.

Price is still within yesterday's range, nothing new.
Trade what you see, not what you think.
  • #51,722
  • Nov 27, 2007 1:36pm Nov 27, 2007 1:36pm
Ok, I'm still learning but set me straight here. am I just seeing something that does not matter, or could it matter. Is there a possible start of an up trend? Possible uptrend on the 1H, 4H and a bullish candle on the daily.
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  • #51,723
  • Nov 27, 2007 1:42pm Nov 27, 2007 1:42pm
nice head and shoulders on the dow
  • #51,724
  • Nov 27, 2007 1:45pm Nov 27, 2007 1:45pm
Whats up Karmo bro. Nice to see you at this time. How are things? Making some sweet pips and chilling at the Palms?
  • #51,725
  • Nov 27, 2007 1:49pm Nov 27, 2007 1:49pm
Quoting vinesh2
Whats up Karmo bro. Nice to see you at this time. How are things? Making some sweet pips and chilling at the Palms?
lol I'm a poor little man , haven't been trading today.. but now waiting to see what it decides to do next, maybe a short? we'll find out soon.
Trade what you see, not what you think.
  • #51,726
  • Nov 27, 2007 2:02pm Nov 27, 2007 2:02pm
It's 3 O' clock and I think we will be seeing a shorting opportunity on the 4 hour chart once the bar closes. This is based solely on price action at the moment. From here, I could realistically see price drop to the lows of yesterday throughout tonight's trading session, and into tomorrow, once support at 224.00 is broken. As Karmo said, Time will tell. Good luck to everyone trading today.
I dream, therefore I become.
  • #51,727
  • Nov 27, 2007 2:11pm Nov 27, 2007 2:11pm
New 4 Hr candle opened in the middle of 5EMA High and 5EMA Close. Any suggestions on the price action?
  • #51,728
  • Nov 27, 2007 2:20pm Nov 27, 2007 2:20pm
I think we'll see GJ spike up and run some stops above 225.20/30 area and then come back down. . .

Starting to build shorts on the way up. . .
  • #51,729
  • Nov 27, 2007 2:21pm Nov 27, 2007 2:21pm
Quoting karmostaji
lol I'm a poor little man , haven't been trading today.. but now waiting to see what it decides to do next, maybe a short? we'll find out soon.
Karm...what do you think about 225.36 roughly around there to short? 1hr 200ema, same spot where last night surge stop dead in its tracks...I know this pair isn't that predictable but do you have any other resistance around that area?
  • #51,730
  • Nov 27, 2007 2:22pm Nov 27, 2007 2:22pm
Quoting vinesh2
New 4 Hr candle opened in the middle of 5EMA High and 5EMA Close. Any suggestions on the price action?
Looking at momentum only we are due for a retrace to the 224.20 area, then its back up 225+ imho.
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  • #51,731
  • Nov 27, 2007 2:30pm Nov 27, 2007 2:30pm
Quoting khmr
Karm...what do you think about 225.36 roughly around there to short? 1hr 200ema, same spot where last night surge stop dead in its tracks...I know this pair isn't that predictable but do you have any other resistance around that area?
I see resistance R2 resistance @ 225.53 and 61.8% Fib resistance @ 225.63 (on 4hr) which is where yesterdays spike up stopped in its tracks.

These maybe better shorting opportunity. . .
  • #51,732
  • Nov 27, 2007 2:30pm Nov 27, 2007 2:30pm
I know Daily charts always conflict because of different brokers, but my Daily has been bullish since it opened at 7PM EST yesterday. My 12H is showing bullishness up until the new Daily candle forms at 7PM tonight (in about 3+ hours). If this thing does retest 225.50 it'll go through IMO, and head up to the 226.80 area where the 50 Fib is. There is still room on the 4H Stochastics for this thing to go up before retracing if it wants to, and we all know how much GBP/JPY loves its 50 Fib retracements.

M2B
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  • #51,733
  • Nov 27, 2007 2:38pm Nov 27, 2007 2:38pm
Quoting karmostaji
lol I'm a poor little man , haven't been trading today.. but now waiting to see what it decides to do next, maybe a short? we'll find out soon.
I think the waiting game is a good idea. My QQE's are still bullish, but I see strong resistance above. The lower time frames are moving closer to overbought territory, but haven't actually arrived. Shorts right now would be risky without a wide SL. Yet I don't fully trust a long to make it through resistance.
  • #51,734
  • Nov 27, 2007 2:43pm Nov 27, 2007 2:43pm
Quoting Pips_Cruiser
I think the waiting game is a good idea. My QQE's are still bullish, but I see strong resistance above. The lower time frames are moving closer to overbought territory, but haven't actually arrived. Shorts right now would be risky without a wide SL. Yet I don't fully trust a long to make it through resistance.
I agree with that, PC. If this were a different time of day I think 226.80 would be almost definite, but entering the dead period makes the next move uncertain. Maybe a rush up to 225.50 before the DOW closes and then a few hours of consolidation.

M2B
  • #51,735
  • Nov 27, 2007 2:46pm Nov 27, 2007 2:46pm
Quoting my2buoys
I agree with that, PC. If this were a different time of day I think 226.80 would be almost definite, but entering the dead period makes the next move uncertain. Maybe a rush up to 225.50 before the DOW closes and then a few hours of consolidation.

M2B
I am still expecting a retrace to 224.20 area, before we make new highs, but if we get an hourly close at 225.20+, you can bet this is going long like donkey kong.
  • #51,736
  • Nov 27, 2007 2:48pm Nov 27, 2007 2:48pm
Just look at u/j testing the resistance at 108.80 I believe we will see 109 plus later . I dont see any trend change for Wednesday.

Zoran's.....227 and 231 might come true after all.
  • #51,737
  • Nov 27, 2007 2:55pm Nov 27, 2007 2:55pm
Quoting lepiricus
I am still expecting a retrace to 224.20 area, before we make new highs, but if we get an hourly close at 225.20+, you can bet this is going long like donkey kong.
LOL. You mean this guy?

M2B

PS- By the way, Lep, I haven't seen one of your regression channel charts for a while. Got one handy to post?
Attached Image
  • #51,738
  • Nov 27, 2007 2:57pm Nov 27, 2007 2:57pm
Quoting my2buoys
I agree with that, PC. If this were a different time of day I think 226.80 would be almost definite, but entering the dead period makes the next move uncertain. Maybe a rush up to 225.50 before the DOW closes and then a few hours of consolidation.

M2B
A strong force meeting strong resistance. Should be fun to watch today.

P.S. - I miss your pictures, M2B!
  • #51,739
  • Nov 27, 2007 3:05pm Nov 27, 2007 3:05pm
Quoting my2buoys
LOL. You mean this guy?

M2B

PS- By the way, Lep, I haven't seen one of your regression channel charts for a while. Got one handy to post?
Haha, nice pic.

Certainly, looking at weekly regression this week should end in a bull candle.

the 4hr regression is showing a retrace to 224 area.

My 1hr candle closed at 225.18, not the magic 225.20 so donkey kong has to go back in his cage till we pick up more buyers
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  • #51,740
  • Nov 27, 2007 3:05pm Nov 27, 2007 3:05pm
Quoting Pips_Cruiser
A strong force meeting strong resistance. Should be fun to watch today.

P.S. - I miss your pictures, M2B!
I'm thinking from 4-7 PM EST we'll see the ranging/consolidation needed to work out some of the overbought status of some of the lower TFs. By then we'll have new Daily candle info and direction to help determine more up or down. I know Weekly Momentum is ultimately saying this week should end up down, but for now all I'm seeing is that the lower highs and lower lows downtrend has at least been interrupted, if not temporarily reversed. Remember, this is all intraday chat. Ultimately, I still see this thing heading south big time over the next several weeks and months from a purely technical viewpoint.

M2B

PS- Speaking of pictures, what's up with your new avatar?
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