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

  • #54,921
  • Dec 13, 2007 9:10am Dec 13, 2007 9:10am
I'm holding longs for now
  • #54,922
  • Dec 13, 2007 9:10am Dec 13, 2007 9:10am
Quote
There s a huge drop on the DAX 300 points. I have exited all long positions for now.

me too
  • #54,923
  • Dec 13, 2007 9:12am Dec 13, 2007 9:12am
Quoting mjolimer
Looks to me like a perfect set up.. ?

4h crossed and candle formed over tft

1h crossing over 50 and candle formed over tft

Daily crossed and over tft... sounds like 200 pip target?


Or am i wrong?

By technical analysis you are right, but this thing has a mind of it's own
  • #54,924
  • Dec 13, 2007 9:12am Dec 13, 2007 9:12am
Quoting Rustyyy
Weekly momentum is down and I don't think we have seen the price action to satisfy this downward momentum as of yet( I would like to see what Auslanco has to say about this though) . Also the weekly H/S pattern looks to be in play this week or beginning of next.
Just my humble opinion
Rustyyy is that green line at 233 on your chart a buy limit or what? Not trying to be picky..just curious.
  • #54,925
  • Dec 13, 2007 9:14am Dec 13, 2007 9:14am
Quoting mjolimer
Looks to me like a perfect set up.. ?

4h crossed and candle formed over tft

1h crossing over 50 and candle formed over tft

Daily crossed and over tft... sounds like 200 pip target?


Or am i wrong?

Yep, I'm long and TP is 200 pips which basically is yesterdays high.
Trade what you see, not what you think.
  • #54,926
  • Dec 13, 2007 9:15am Dec 13, 2007 9:15am
Might as well just toss a coin. Better still, stay out all together.
  • #54,927
  • Dec 13, 2007 9:16am Dec 13, 2007 9:16am
Quoting moneymagnet
i just cant get it right this week. think i am done for the week
moneymagnet,

Hang in there bro, its the last couple days throwing you off. I made one trade yesterday after the run-up, got short at the 230's, set stop loss and TP and didn't trade for the rest of the day. . .

Luckily, my TP @ the 50% fib line from the run-up got hit. . . Right now I'm trading ranges and bounces to recoup some of the losses from yesterday so I'm trying to get back into the swing of things. . .

Good luck trading my friend. . .
  • #54,928
  • Dec 13, 2007 9:18am Dec 13, 2007 9:18am
we are now in a nice uptrend channel on the 15m chart after the downtrend channel was broken to the upside.
Trade what you see, not what you think.
  • #54,929
  • Dec 13, 2007 9:18am Dec 13, 2007 9:18am
FX[quote]Studentshort.. long ? well time will tell.. i'm on the sideline for now!!
  • #54,930
  • Edited 9:19am Dec 13, 2007 9:19am | Edited 9:19am
Quoting forexnovice
Rustyyy is that green line at 233 on your chart a buy limit or what? Not trying to be picky..just curious.
No problem. Weekly 50EMA.
  • #54,931
  • Dec 13, 2007 9:20am Dec 13, 2007 9:20am
Am still standing on my long position
  • #54,932
  • Dec 13, 2007 9:22am Dec 13, 2007 9:22am
I m still in favor of the longs, I going to proceed with the plan come rain or come shine.
Common sense is not so common.
  • #54,933
  • Edited 10:22am Dec 13, 2007 9:24am | Edited 10:22am
Quoting karmostaji
Yep, I'm long and TP is 200 pips which basically is yesterdays high.


Yep once it gets through ranging up/down, up/down looks like it could go to the next level of price which is @ 229.72 then 230.40 if it gets above 229.30.

However in the midst of it ranging, we might see it go back to 228.61 (already bounced from there once) and even 228.20/25 before getting up there depending on Dow. . .

Just another side to look at to understand what prices is doing while you're holding your longs. . .

Have a good system = GREAT!
Undsertanding why the system works = PRICELESS!
  • #54,934
  • Dec 13, 2007 9:24am Dec 13, 2007 9:24am
Quoting Rustyyy
No problem. Weekly 50EMA.
Refering to the Green Dotted line at 233.12. The left hand corner reads as buy..

edit-Weekly R3 stands at 233.85
  • #54,935
  • Dec 13, 2007 9:27am Dec 13, 2007 9:27am
Sorry...lack of sleep !
Weekly R3
  • #54,936
  • Dec 13, 2007 9:27am Dec 13, 2007 9:27am
we are now in a nice uptrend channel on the 15m chart after the downtrend channel was broken to the upside.
Quote
  • #54,937
  • Dec 13, 2007 9:39am Dec 13, 2007 9:39am
E/U and G/U getting hammered.
  • #54,938
  • Dec 13, 2007 9:41am Dec 13, 2007 9:41am
Quoting uncleforex
E/U and G/U getting hammered.
Yep, but UJ is testing 112.40 resistance, if it breaks and GU reverses upward then GJ will see 231.60's real fast. . .

JMHO!
  • #54,939
  • Dec 13, 2007 9:42am Dec 13, 2007 9:42am
Quoting uncleforex
E/U and G/U getting hammered.
so am I.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #54,940
  • Dec 13, 2007 9:43am Dec 13, 2007 9:43am
Quoting uncleforex
E/U and G/U getting hammered.
Bullish harmonic pattern on GU 1H
Trade what you see, not what you think.
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