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

  • #54,241
  • Dec 11, 2007 7:01am Dec 11, 2007 7:01am
Quoting Invest_Master
ACCOUNT BLOWN!!
Oh my!
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  • #54,242
  • Dec 11, 2007 7:02am Dec 11, 2007 7:02am
Quoting forexnovice
A good example of resistance turned support on 4hr
Agreed, seems 229.08/10 support for now but its facing a bit of resistance @ 229.72/75 as well. . .
If broken next resistance is ar'd 230.90 but I think it will overshoot and touch 50% fib 1st, well maybe. . .

That would mean GU would have to test up @ 2.0540/550 and UJ @ 112.50. I'll be watching these two pairs as I think if they get there they will be met will massive sellers driving GJ back down. . .

JMHO!
  • #54,243
  • Dec 11, 2007 7:02am Dec 11, 2007 7:02am
Quoting forexnovice
A good example of resistance turned support on 4hr
yeah but that doji at the top of a bull run? hmmmm
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #54,244
  • Dec 11, 2007 7:02am Dec 11, 2007 7:02am
Quoting my2buoys
Oh my!
  • #54,245
  • Dec 11, 2007 7:03am Dec 11, 2007 7:03am
Quoting crashout
The second phase is when your dog trades better than you
Oh my, my!
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  • #54,246
  • Dec 11, 2007 7:04am Dec 11, 2007 7:04am
Quoting Ash
Did you ever get the chance to try out the system and currency pair's I told you about?
Hi,
I'm also interested in this sytem and pair if u dont mind sharing it
thx
  • #54,247
  • Dec 11, 2007 7:08am Dec 11, 2007 7:08am
Quoting moneymagnet
yeah but that doji at the top of a bull run? hmmmm
Doji is not neccesarily a sign of reversal. The one you talk about indicates indecision..thats how I view it
  • #54,248
  • Dec 11, 2007 7:12am Dec 11, 2007 7:12am
Quoting my2buoys
Oh my, my!
The complex mechanisms driving the world's markets..
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  • #54,249
  • Dec 11, 2007 7:17am Dec 11, 2007 7:17am
Quoting forexnovice
Doji is not neccesarily a sign of reversal. The one you talk about indicates indecision..thats how I view it
yes a sign of indecision but the higher the timeframe the more probability of a reversal. if this wasnt rate decision day i would be looking for a short entry if i wasnt short already (no position currently)
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #54,250
  • Edited 7:19am Dec 11, 2007 7:19am | Edited 7:19am
Quoting crashout
Start a new thread, this will be the best for all of us

Thanks but I not worthy of starting anything. Everything I learned was from Aus. I just combined some of his indicators (just to confirm what I see on the charts). If anyone wants to learn more, just send me a PM.
Humble Lifetime Member
  • #54,251
  • Dec 11, 2007 7:28am Dec 11, 2007 7:28am
Quoting moneymagnet
yes a sign of indecision but the higher the timeframe the more probability of a reversal. if this wasnt rate decision day i would be looking for a short entry if i wasnt short already (no position currently)
From past experiences even I would have preferred 2 stay out today. That said I have set protective SL at 229.
  • #54,252
  • Dec 11, 2007 7:30am Dec 11, 2007 7:30am
OK. Enough of the funny stuff. Here's some real analysis. I see by reading the thread that everybody is itching big time to go short, even to the point of blowing up accounts. I see that even Aus has called for a short-term short down to the 228 area. We could see some kind of retracement of 100 to 200 pips at any given time. However, I don't see this thing collapsing until the 50 Fib, around 231.30, is hit, at the very least. As Karmo has proven time and again, GBP/JPY loves the 50 Fib. This Fib is from the Daily Chart so it is taking its sweet time getting there. Remember, price needs a reason to reverse at the points it reverses (e.g. EMAs, Fib lines, etc). Just being OB or OS is not good enough. The 4H has been OB on the Stochastics for two days. I realize price bounced off of the 50EMA on the Daily (around 229.90), and that might be enough to reverse this beast. After all, that is also right near the Weekly 5SMA high around 229.70. I'm just not comfortable committing to shorts yet until we see that 50 Fib hit or a close beneath the TFT on the 1H at the least. There is even a slight possibility that price could decide to stretch up to the 61.8 Fib, around 233.70, where the Daily 200 EMA also sits. Beneath is a look at both the Daily and 4H charts.

M2B
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  • #54,253
  • Dec 11, 2007 7:41am Dec 11, 2007 7:41am
Quoting forexnovice
From past experiences even I would have preferred 2 stay out today. That said I have set protective SL at 229.
i actually think we will see 231.10 (50%fibo) today and possibly more
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #54,254
  • Dec 11, 2007 7:42am Dec 11, 2007 7:42am
Quoting forexnovice
Thanx 4 the chart Dagoods..beats mindless babbling anyday

my pleasure....i'm trying to learn and be involved (only way to really learn) i just got mt4 so i can post charts... of course i have no idea how to use mt4 lol anybody have a simple user manual, i dont know how to set up aus system in mt4 even.... cant seem to figure it out... dagoods= computer illiterate....
  • #54,255
  • Dec 11, 2007 7:42am Dec 11, 2007 7:42am
Quoting moneymagnet
i actually think we will see 231.10 (50%fibo) today and possibly more
u beat me to it m2b
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #54,256
  • Dec 11, 2007 7:42am Dec 11, 2007 7:42am
Quoting moneymagnet
i actually think we will see 231.10 (50%fibo) today and possibly more
Looks like reversal points are increasing more and more..
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  • #54,257
  • Dec 11, 2007 7:48am Dec 11, 2007 7:48am
Quoting moneymagnet
i actually think we will see 231.10 (50%fibo) today and possibly more
I am looking forward to that. Withdrew last week's profits for downpayment of the Brand New Honda Civic I bought Today
  • #54,258
  • Dec 11, 2007 7:49am Dec 11, 2007 7:49am
Quoting my2buoys
Oh my!
that looks almost like a hammer. i'm short!! LOL
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #54,259
  • Dec 11, 2007 7:50am Dec 11, 2007 7:50am
Quoting forexnovice
I am looking forward to that. Withdrew last week's profits for downpayment of the Brand New Honda Civic I bought Today
NOW THATS WHAT I'M TALKING ABOUT BRO'(YOU R A BRO RIGHT?)!!!! OUTSTANDING. SO HAPPY FOR YA!!!!!!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #54,260
  • Dec 11, 2007 7:55am Dec 11, 2007 7:55am
Quoting forexnovice
I am looking forward to that. Withdrew last week's profits for downpayment of the Brand New Honda Civic I bought Today

I bought a Mercedes Benz last week, very cool car
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