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

  • #52,321
  • Nov 29, 2007 9:11am Nov 29, 2007 9:11am
alright going long now sl 100!!!!
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  • #52,322
  • Nov 29, 2007 9:16am Nov 29, 2007 9:16am
I do not think now is the best time to long g/j. U/J just broke down from the wedge and is heading below the daily pivot. G/U still weak as it didn't rally up much.

I prefer to wait till tomorrow as DJI could be a bit crazy.

Still in my usd/chf shorts. +20
  • #52,323
  • Nov 29, 2007 9:18am Nov 29, 2007 9:18am
my brain is much smarter then pivots and channel lines and blah blahs
Quoting uncleforex
I do not think now is the best time to long g/j. U/J just broke down from the wedge and is heading below the daily pivot. G/U still weak as it didn't rally up much.

I prefer to wait till tomorrow as DJI could be a bit crazy.

Still in my usd/chf shorts. +20
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  • #52,324
  • Nov 29, 2007 9:19am Nov 29, 2007 9:19am
ok guys, i am long from 225.85 (1/3 of a position). 1st target 227.20 area (15min 50 and 100 ema areas) i will add the rest on a 30min or hourly close above those areas. could see some more downward moves however but with only third of a position i can handle the drawdown.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #52,325
  • Nov 29, 2007 9:19am Nov 29, 2007 9:19am
Quoting FX-Petra
M2B,
My daily is beaish also. I am no momentum expert...but I use the following gudie: I only take trades when daily and weekly momentum are in agreement. If 4h also agrees--that makes it extra special. That is different from scalps, which I will do occasionaly for fewer pips on the lower time frames. Only taking trades in the direction of Weekly momentum has certainly kept me out of some good trades (sometimes only 1 trade per week), but it has also kept me out of some bad ones as well!
FX-Petra, can you poit me Aus. Momentum Thread, I did a search but didn't come up with it, or is there a link on the daily blog?

Never mind found it. . .
  • #52,326
  • Nov 29, 2007 9:19am Nov 29, 2007 9:19am
then good luck to you
  • #52,327
  • Nov 29, 2007 9:20am Nov 29, 2007 9:20am
Quoting uncleforex
I do not think now is the best time to long g/j. U/J just broke down from the wedge and is heading below the daily pivot. G/U still weak as it didn't rally up much.

I prefer to wait till tomorrow as DJI could be a bit crazy.

Still in my usd/chf shorts. +20
Thanks for closing your shorts..
  • #52,328
  • Nov 29, 2007 9:21am Nov 29, 2007 9:21am
Quoting uncleforex
I do not think now is the best time to long g/j. U/J just broke down from the wedge and is heading below the daily pivot. G/U still weak as it didn't rally up much.

I prefer to wait till tomorrow as DJI could be a bit crazy.

Still in my usd/chf shorts. +20
agreed uncle, this might take a while
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #52,329
  • Nov 29, 2007 9:21am Nov 29, 2007 9:21am
does anybody see this dropping further. My 4hr TF charts ,mom's and channels show no stops yet. could this be a false support.? i think i,ll be sidelined for a further drop before my longs. ??
  • #52,330
  • Nov 29, 2007 9:23am Nov 29, 2007 9:23am
Quoting quecee5
FX-Petra, can you poit me Aus. Momentum Thread, I did a search but didn't come up with it, or is there a link on the daily blog?

Never mind found it. . .
http://www.forexfactory.com/showthread.php?t=54585
  • #52,331
  • Nov 29, 2007 9:24am Nov 29, 2007 9:24am
yes you are right guys, since I don't use weekly piviots I didn't notice that. But right now we are sitting just over 50 ema 4H. I'm sure this is a powerful support for market which is 225.70.

If next candle closes under this line, I'll go another short.
Discipline + Patience - Fear - Greed = Success
  • #52,332
  • Nov 29, 2007 9:27am Nov 29, 2007 9:27am
Possible retrace to the 5 sma on the 4 hour
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #52,333
  • Nov 29, 2007 9:29am Nov 29, 2007 9:29am
this is part of my reasoning for the small long position. hourly TL and 100 ema support., but a close below i will close my long, no need to kick against a prick
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr.gif Size: 19 KB
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #52,334
  • Nov 29, 2007 9:31am Nov 29, 2007 9:31am
Quoting moneymagnet
this is part of my reasoning for the small long position. hourly TL and 100 ema support., but a close below i will close my long, no need to kick against a prick
Ditto mm, could also be a trend continuation for going long. Small S/L as well.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #52,335
  • Nov 29, 2007 9:33am Nov 29, 2007 9:33am
Quoting moneymagnet
this is part of my reasoning for the small long position. hourly TL and 100 ema support., but a close below i will close my long, no need to kick against a prick
i believe it already broke the channel line look here
Attached Image (click to enlarge)
Click to Enlarge Name: channel.gif Size: 20 KB
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  • #52,336
  • Nov 29, 2007 9:34am Nov 29, 2007 9:34am
Hi M2B
Great advice for somebody who is still confused with momentums.i always look for your articles and explanations. Thank you.
Could you kindly direct me to the page where you explained how to attach
the period converter to create a 12 h chart? I did it but it doesent work.
If i am cluttering this thread please pm me
Thank you in advance
Senbanda
  • #52,337
  • Nov 29, 2007 9:35am Nov 29, 2007 9:35am
I think i confused about something u post earlier. According to AUS mom, we should only look on the early bar start. So for Daily MOM, it was very bullish n formed outside the channel, so AUS predict that it will have a higher close but it seem go down. Maybe due to bearish divergence formed on GJ and UJ after the yesterday long.
  • #52,338
  • Nov 29, 2007 9:41am Nov 29, 2007 9:41am
forexpet,

i gues it depends on how you draw the lines.
Attached Image (click to enlarge)
Click to Enlarge Name: 1h2r.gif Size: 21 KB
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #52,339
  • Nov 29, 2007 9:43am Nov 29, 2007 9:43am
Stocks stumble after rally

Wall Street edges back a bit after a two-day advance as oil prices rise. Sears earnings tumble, while E*Trade gets some cash.

http://i.cnn.net/money/.element/img/1.0/icons/email.gif November 29 2007: 10:15 AM EST






NEW YORK (CNNMoney.com) -- Stocks slipped Thursday morning, with rising oil prices and another weak reading on home sales giving investors a reason to backtrack after a two-day rally that lifted the Dow industrials by nearly 550 points.
The Dow Jones industrial average (Charts) lost 0.4 percent in the early going, after having risen 546.01 points in the previous two sessions, the best two-day run on a point basis since October 2002.
The broader S&P 500 index (Charts) fell 0.4 percent and the tech-fueled Nasdaq (Charts) lost 0.5 percent.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #52,340
  • Nov 29, 2007 9:45am Nov 29, 2007 9:45am
Quoting forexpert310
i believe it already broke the channel line look here
I believe your using a trendline not a channel study. I'm using Linear Regression Channel on MT4. Anyway, price seems to be reacting to the confluence of many resistence points: 50 ema 4 hour, weekly 100sma, channels, trendlines etc.

Jim
Indicators show the past. Price Action "Indicates" the future.
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