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

  • #57,081
  • Jan 3, 2008 8:14am Jan 3, 2008 8:14am
Quoting quecee5
Mike/Forexnovice,

I'm with you guys on this but can someone explain why 4 hr and daily mom's are pointing up? Also, we just got a close above the 5 sma on the 1hr chart could we see a bit more upside before reversing back down. . .

Your opinion please?
We just moved back upwards 300 pips. That could be why. I don't use momentums so I'm unsure. I have a good short signal from my analysis however. The close above the 5 sma means we just have to get to it, which also entails a drop in price.
I dream, therefore I become.
  • #57,082
  • Jan 3, 2008 8:14am Jan 3, 2008 8:14am
Quoting quecee5
Mike/Forexnovice,

I'm with you guys on this but can someone explain why 4 hr and daily mom's are pointing up? Also, we just got a close above the 5 sma on the 1hr chart could we see a bit more upside before reversing back down. . .

Your opinion please?
On 4hr Gj, 1c is above zero indicating a retracement to 5smaC..just completed. 14c and 10c are pointing up but way below zero.
  • #57,083
  • Jan 3, 2008 8:15am Jan 3, 2008 8:15am
My sentiments exactly Mike

HH
  • #57,084
  • Jan 3, 2008 8:16am Jan 3, 2008 8:16am
Anyone know why?
Regards, Android.
  • #57,085
  • Jan 3, 2008 8:17am Jan 3, 2008 8:17am
Would anyone like to help me get the Gbp/Usd thread on track? It's turned into just horsebetting as Cesarnc said. Those guys really need help. That's not meant aas a joke, they really do. They don't know price action and the basics of technical analysis; trendlines, fibs, PA, etc. They only say up or down. It's ridiculous.
I dream, therefore I become.
  • #57,086
  • Jan 3, 2008 8:18am Jan 3, 2008 8:18am
Quoting mike w
Would anyone like to help me get the Gbp/Usd thread on track? It's turned into just horsebetting as Cesarnc said. Those guys really need help. That's not meant aas a joke, they really do. They don't know price action and the basics of technical analysis; trendlines, fibs, PA, etc. They only say up or down. It's ridiculous.
They're waiting for the BoE "meeting" to discuss the pounds issues.

Patience + Humility + Study = Success
  • #57,087
  • Jan 3, 2008 8:19am Jan 3, 2008 8:19am
Quoting mike w
Would anyone like to help me get the Gbp/Usd thread on track? It's turned into just horsebetting as Cesarnc said. Those guys really need help. That's not meant aas a joke, they really do. They don't know price action and the basics of technical analysis; trendlines, fibs, PA, etc. They only say up or down. It's ridiculous.

Mike
Post a link to the thread. . .
  • #57,088
  • Jan 3, 2008 8:23am Jan 3, 2008 8:23am
Mike/Forexnovice,

Thxs for the feedback.
I'm sitting on the sideline for now, I need to watch price action for 30 min. to 1hr so I can get a better picture. . .
  • #57,089
  • Jan 3, 2008 8:23am Jan 3, 2008 8:23am
http://www.forexfactory.com/showthread.php?t=10378

There's the link Quecee and thanks man, I appreciate it!
I dream, therefore I become.
  • #57,090
  • Jan 3, 2008 8:23am Jan 3, 2008 8:23am
Quoting quecee5
Mike
Post a link to the thread. . .
http://www.forexfactory.com/showthre...61#post1782661. Right there with you guys
  • #57,091
  • Jan 3, 2008 9:01am Jan 3, 2008 9:01am
Okay guys starting to build shorts on GJ now, in at 216.55 and looking to possibly build more. Still watching price action and waitng for 10 am news. . .

Good luck all with you trading today. . .
  • #57,092
  • Jan 3, 2008 9:21am Jan 3, 2008 9:21am
Quoting mike w
Would anyone like to help me get the Gbp/Usd thread on track? It's turned into just horsebetting as Cesarnc said. Those guys really need help. That's not meant aas a joke, they really do. They don't know price action and the basics of technical analysis; trendlines, fibs, PA, etc. They only say up or down. It's ridiculous.
u kiddin right. i thought cesarnc was a sesoned trader?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #57,093
  • Jan 3, 2008 9:29am Jan 3, 2008 9:29am
ok guys, 3 attemps to break 216.60 on 30 min chart. if we get close above then 217.60 would be a next target, IMO. i am still obviously short biased so i am only looking to build shorts. may scalp long but i wont post that. ready to build shorts as quecee suggested. trade your plan however. at work so cant type a whole lot
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #57,094
  • Jan 3, 2008 9:38am Jan 3, 2008 9:38am
Quoting moneymagnet
ok guys, 3 attemps to break 216.60 on 30 min chart. if we get close above then 217.60 would be a next target, IMO. i am still obviously short biased so i am only looking to build shorts. may scalp long but i wont post that. ready to build shorts as quecee suggested. trade your plan however. at work so cant type a whole lot
that 217.60 area would complete the shoulder area for the inverse head and shoulder formation on the 15 min chart. 4 hour moms are pointing up. wait for this resistance (216.60) to break or be rejected before entering.
  • #57,095
  • Jan 3, 2008 9:41am Jan 3, 2008 9:41am
Quoting ovaforty
that 217.60 area would complete the shoulder area for the inverse head and shoulder formation on the 15 min chart. 4 hour moms are pointing up. wait for this resistance (216.60) to break or be rejected before entering.
Would you please post that as a graphic, I can't see it. thanks
  • #57,096
  • Jan 3, 2008 9:42am Jan 3, 2008 9:42am
Guys, just wanted to let you know that I closed out almost all my loosing trades. I am going to try to rebuild my account pip by pip. I might stay on the side lines till the market bottoms out whenever that is. I am holding on to my AJ longs since commoditiy currencies are not doing that bad even though I am negative on them. Wanted to thank MM and Pipchick for motivating me and not panicking. I had a very stressfull last few days and its still not over. I am looking at the Weekley chart and looks like it may touch 365 SMA which is at 206 area but who knows thats what I am seeing on my chart. STOCH on my chart have still a little more room downwards on the Weekley. Thanks again guys I feel a little better now that my account is less negative then before still its negative and i dont like seeing that.
  • #57,097
  • Jan 3, 2008 9:45am Jan 3, 2008 9:45am
Are we are on H&S daily on DOW?
http://www.doske.com/fx/dow.jpg
  • #57,098
  • Jan 3, 2008 9:47am Jan 3, 2008 9:47am
Quoting vinesh2
Guys, just wanted to let you know that I closed out almost all my loosing trades. I am going to try to rebuild my account pip by pip. I might stay on the side lines till the market bottoms out whenever that is. I am holding on to my AJ longs since commoditiy currencies are not doing that bad even though I am negative on them. Wanted to thank MM and Pipchick for motivating me and not panicking. I had a very stressfull last few days and its still not over. I am looking at the Weekley chart and looks like it may touch 365 SMA which is at 206 area but who knows thats what I am seeing on my chart. STOCH on my chart have still a little more room downwards on the Weekley. Thanks again guys I feel a little better now that my account is less negative then before still its negative and i dont like seeing that.
Most of us have been in your shoes at some point in our trading career and as long as you have learned a lesson, it isnt a failure.
  • #57,099
  • Jan 3, 2008 9:48am Jan 3, 2008 9:48am
Quoting moneymagnet
ok guys, 3 attemps to break 216.60 on 30 min chart. if we get close above then 217.60 would be a next target, IMO. i am still obviously short biased so i am only looking to build shorts. may scalp long but i wont post that. ready to build shorts as quecee suggested. trade your plan however. at work so cant type a whole lot
moneymagnet,

Seeing the same thing looking @ a 1hr chart, decending channel line coming off the dec 31st high @ 224.83 yields 217.64 resistance. A break above would target 50 ema @ 218.68 which is also daily pivot (218.60). . .
  • #57,100
  • Jan 3, 2008 9:48am Jan 3, 2008 9:48am
Quoting Pirin
Would you please post that as a graphic, I can't see it. thanks
here is the 15 min head and shoulder
Attached Image (click to enlarge)
Click to Enlarge Name: head and shouldersgeppy.gif Size: 21 KB
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