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

  • #53,821
  • Dec 7, 2007 7:04am Dec 7, 2007 7:04am
We have an hourly pin bar, if any thing technical matters now.
  • #53,822
  • Dec 7, 2007 7:20am Dec 7, 2007 7:20am
I hate to post this, and I suppose you all allready knew it, but here it is the Head and Shoulder reversal pattern on the weekly GPBJPY.

But I do hope it will not mean the beginning of a downtrend!
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  • #53,823
  • Dec 7, 2007 7:53am Dec 7, 2007 7:53am
Quoting saed
We have an hourly pin bar, if any thing technical matters now.
Did u trade that Daily Pin on Cable?
  • #53,824
  • Dec 7, 2007 8:01am Dec 7, 2007 8:01am
Quoting mike w
I'm not seeing it as bullish either Quecee. We just had the upmove to 226 earlier which created the retrace and now I think we are going to move lower again. We just had a pin on the 4 hour bar right at resistance and so I think that's enough to put me in a short position. Plus the current downtrend helps too.
There hasn't been any Pinbar on 4hrly except 4 the one on 03/12 @8gmt which failed 2 break to the upside..maybe u r talking about EST time.
  • #53,825
  • Dec 7, 2007 8:24am Dec 7, 2007 8:24am
Quoting forexnovice
Did u trade that Daily Pin on Cable?
yes i did.
  • #53,826
  • Dec 7, 2007 8:35am Dec 7, 2007 8:35am
Quoting saed
yes i did.
Me 2 Although I am wondering how long this weekly TL will provide support with the bearish cable sentiment.
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  • #53,827
  • Dec 7, 2007 8:49am Dec 7, 2007 8:49am
Quoting forexnovice
Me 2 Although I am wondering how long this weekly TL will provide support with the bearish cable sentiment.
If you are famaliar with Aus new momentum system you might think that we may see at least 2.0063 which is the monthly 5sma low.
  • #53,828
  • Dec 7, 2007 8:58am Dec 7, 2007 8:58am
Quoting saed
If you are famaliar with Aus new momentum system you might think that we may see at least 2.0063 which is the monthly 5sma low.
Just applied 5sma channel 2 cable charts...Thanx 4 the heads up
  • #53,829
  • Dec 7, 2007 9:06am Dec 7, 2007 9:06am
Quoting quecee5

my 4 hour s2 is 225.49 , anyone think this will act as daily support?
  • #53,830
  • Dec 7, 2007 9:14am Dec 7, 2007 9:14am
Quoting forexnovice
There hasn't been any Pinbar on 4hrly except 4 the one on 03/12 @8gmt which failed 2 break to the upside..maybe u r talking about EST time.
We just got one and there was one about 5 bars ago as well. Either way, I trade what I see in terms of opportunity. This, to me, looks like a solid opportunity to short from here. Once price gets pushed farther down, it will end up creating a pin on the daily or lower and then the bears will be in full effect from there.
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I dream, therefore I become.
  • #53,831
  • Dec 7, 2007 9:19am Dec 7, 2007 9:19am
Quoting dagoods
my 4 hour s2 is 225.49 , anyone think this will act as daily support?
It will have to break 4hr s1 1st @ 226.14 then next support (s2) @225.50, which is just above the daily pivot 225.25. . .
  • #53,832
  • Dec 7, 2007 9:21am Dec 7, 2007 9:21am
Quoting quecee5
It will have to break 4hr s1 1st @ 226.14 then next support (s2) @225.50, which is just above the daily pivot 225.25. . .

gotcha thank u i think it may break s1 based on price action but just My humble opinion....
  • #53,833
  • Dec 7, 2007 9:23am Dec 7, 2007 9:23am
Quoting mike w
We just got one and there was one about 5 bars ago as well. Either way, I trade what I see in terms of opportunity. This, to me, looks like a solid opportunity to short from here. Once price gets pushed farther down, it will end up creating a pin on the daily or lower and then the bears will be in full effect from there.
my charts show a different setup...the timezone difference I guess. U r right about that daily pin setup..lets see how it plays out.
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  • #53,834
  • Dec 7, 2007 9:26am Dec 7, 2007 9:26am
i'd agree with mike on this..

i've been short since yesterday.. (swing).. not an ideal entry point though..

psar on daily has sell dot appearing (which helps me in swing pos)

expecting to see 221.3 - 221.5 in the next couple of days or weeks
which is the fib bottom from the 241+ to 221+ dip fall && an extension of the 229 to 223+ dip on the 4hrly

well.. posted just cos i feel the thread has lost some momentum

Quoting mike w
We just got one and there was one about 5 bars ago as well. Either way, I trade what I see in terms of opportunity. This, to me, looks like a solid opportunity to short from here. Once price gets pushed farther down, it will end up creating a pin on the daily or lower and then the bears will be in full effect from there.
  • #53,835
  • Dec 7, 2007 9:32am Dec 7, 2007 9:32am
Quoting forexnovice
my charts show a different setup...the timezone difference I guess. U r right about that daily pin setup..lets see how it plays out.
Yeah, I am on eastern time so that is probably the difference. It all turns out to be the same thing though. I could put two bars together and those two bars could create a pin. Things like that help when trading to realize other setups than just pin bars. As for the daily, I think it'll get there just in time. Either way, it means nothing until it happens.
I dream, therefore I become.
  • #53,836
  • Dec 7, 2007 9:38am Dec 7, 2007 9:38am
Quoting intelmaster
i'd agree with mike on this..

i've been short since yesterday.. (swing).. not an ideal entry point though..

psar on daily has sell dot appearing (which helps me in swing pos)

expecting to see 221.3 - 221.5 in the next couple of days or weeks
which is the fib bottom from the 241+ to 221+ dip fall && an extension of the 229 to 223+ dip on the 4hrly

well.. posted just cos i feel the thread has lost some momentum
Hey intelmaster, I am with you on that. I placed an entry yesterday as well. 221 is going to be my first target too. I think anything lower than that at the moment and it won't take profit for me. That's a safe area for an exit in my opinion. As for it taking weeks, I doubt it will take that long. I'm thinking at some point next week it will. I just hope it does before that triple swap, because by then my position will be built up fairly large. I feel like I'm getting robbed when that comes out lol
After the area of 225.70 to 226.00, I think it will start to take off as that seems to be the last bit of support around these levels.

As for the thread losing momentum, it doesn't have to be that way. Step up people and give your thoughts on our situation with this pair. It doesn't matter if you know your stuff yet or not. That's how you learn. If you don't participate, it will take you a lot longer to learn than if you did.
I dream, therefore I become.
  • #53,837
  • Dec 7, 2007 9:43am Dec 7, 2007 9:43am
Quote:
Originally Posted by Pipsqueak http://www.forexfactory.com/images/buttons/viewpost.gif
Wow this thread is so dead. Did someone fart? I hope everyone is jumping on the long bandwagon. If you wait until after the NFP, this pair might be already at weekend gap. It's still about 200 pips away.






Quoting moneymagnet
usd/jpy has hit resistance at 111.63, cable at 2.0332, geppy at 226.80, so since i am not in and we are a little overbought, i'm staying out for now unless i see closes above those areas. i may stay out the whole day and just watch


looks like i was right. patience, patience, patience
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,838
  • Dec 7, 2007 9:45am Dec 7, 2007 9:45am
Quoting mike w
Yeah, I am on eastern time so that is probably the difference. It all turns out to be the same thing though. I could put two bars together and those two bars could create a pin. Things like that help when trading to realize other setups than just pin bars. As for the daily, I think it'll get there just in time. Either way, it means nothing until it happens.
I have still a lot 2 learn about trading ideal PBs...Do keep those posts flowing.
  • #53,839
  • Dec 7, 2007 9:49am Dec 7, 2007 9:49am
We are bouncing off of the 38.2 of todays move up which is forming an abc pattern. It is also trading above the 200 ema on the 1 hr and 50 and 5 ema on the 4 hr. Seems to be holding for now. I placed a buy off of the 200 ema 1 hr bounce with a stop just beneath the 50% of todays move. Little risk. An open on the 1 hr below the 61.8 at 225.60 area, shorts would be in play.Its freaky friday...anything could happen..lol
  • #53,840
  • Dec 7, 2007 9:54am Dec 7, 2007 9:54am
Dow might sell off today due to profit taking will wait and see maybe eod.
Lets make sum!
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