The 4Hr 5 SMA is overdue for a touch
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #52,422
- Nov 29, 2007 2:51pm Nov 29, 2007 2:51pm
- Joined Apr 2006 | Status: Trader | 2,429 Posts
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
- #52,423
- Nov 29, 2007 2:52pm Nov 29, 2007 2:52pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Hey Karmo, nice call on the recent retrace area! Worked like a charm!
If bulls come back like we are expecting, then the next target is the Daily 50ema which is 230.10 area. We need the 1H QQE to cross upwards and then it's a sweet ride
Trade what you see, not what you think.
- #52,424
- Nov 29, 2007 3:07pm Nov 29, 2007 3:07pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Things still look the same, once the DOW is out of the way, bulls should start coming n take control during Asian/London sessions.
- #52,425
- Nov 29, 2007 3:09pm Nov 29, 2007 3:09pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Here's where I see the S&R areas today. The fibs are retraces from the recent low / high swing:
227.50 4hr 100sma (moving)
227.14 38.2% fib
226.55 NY session daily pivot
226.48 50% fib
226.36 4hr Gann (moving)
225.86 4hr 50ema (moving)
225.85 61.8% fib
225.21 Daily 5sma (moving)
255.13 1hr 100sma (moving)
225.02 76.4% fib
I also see the next 4hr close as significant, because the 4hr QQE could cross bearish and price could close below the 4hr Gann. Otherwise we've probably come close to the the bottom, and I'll be expecting an upward swing in price later today.
- #52,427
- Nov 29, 2007 3:18pm Nov 29, 2007 3:18pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
Already long at the lows. . .
- #52,429
- Nov 29, 2007 3:24pm Nov 29, 2007 3:24pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
Thanks bro, it feels good when everything works out just the way you plan it, I'm glad the beast GJ played nice and didn't do anything out of the ordinary lol.
If bulls come back like we are expecting, then the next target is the Daily 50ema which is 230.10 area. We need the 1H QQE to cross upwards and then it's a sweet ride
- #52,430
- Nov 29, 2007 3:25pm Nov 29, 2007 3:25pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Yeah, true, true. . .
However, the lowest I see it getting is 225 which happens to be the 78.6% fib. line and daily 5 SMA, so its possible. However, I don't see 224, nothing driving it to go that low. . . Today just happens to be a mildly bearish day.
As for 229/230, we're on the same page. . . Should start in the UK session and end in NY session. . .
Lets see how this all plays out. I'm long and plan to hold my long over night and close it out 2morrow noon EDT (maybe) as I posted earlier. Realistically, I may hold until 232/233 (possible) before closing I may just add to it if we get a small retrace abd close out at that target.
Expect more of the same over the next 12-16 hours, but in the mean time I need to get some shut eye. . .
- #52,431
- Nov 29, 2007 3:28pm Nov 29, 2007 3:28pm
- Joined Apr 2006 | Status: Trader | 2,429 Posts
I'd like to see price rise a little bit more first. But it looks like I'll be joining you soon!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
- #52,432
- Nov 29, 2007 3:31pm Nov 29, 2007 3:31pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Note;
2morrow is the end of the month closing so expect heighten volatility.
2morrow is the end of the month closing so expect heighten volatility.
- #52,433
- Nov 29, 2007 3:41pm Nov 29, 2007 3:41pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
- #52,437
- Nov 29, 2007 5:00pm Nov 29, 2007 5:00pm
- Joined Apr 2006 | Status: Trader | 2,429 Posts
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- #52,438
- Nov 29, 2007 5:14pm Nov 29, 2007 5:14pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
- #52,440
- Nov 29, 2007 5:42pm Nov 29, 2007 5:42pm
- Joined Apr 2006 | Status: Trader | 2,429 Posts
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!