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

  • #60,241
  • Jan 27, 2008 11:22pm Jan 27, 2008 11:22pm
Quoting JasonGuillen
Looks like It may stop me out. 17 pips away from that Lock-in.

Thats ok..I can sleep!!
Excellent Jason! You would be surprised how many people would remove that stop loss and think that can make more pips. (O.K. I'm talking about my past self here. lol.)

Good Job.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #60,242
  • Jan 27, 2008 11:34pm Jan 27, 2008 11:34pm
Let's chant it...
"207, 207, 207"...


Come on Frankfurt...;
Come on London...
I will work to Objectively Identify my Edges
  • #60,243
  • Jan 27, 2008 11:37pm Jan 27, 2008 11:37pm
Quoting jarroo
Excellent Jason! You would be surprised how many people would remove that stop loss and think that can make more pips. (O.K. I'm talking about my past self here. lol.)

Good Job.

Jim
yeah, me..... last week...... Stupid !!!!
Just made up for it though.... now Onward and Upward....... 217 !!
  • #60,244
  • Jan 27, 2008 11:42pm Jan 27, 2008 11:42pm
Quoting kujo17
yeah, me..... last week...... Stupid !!!!
Just made up for it though.... now Onward and Upward....... 217 !!
Hard lesson to learn. When I'm in a trade and up 80 pips and price goes against me, back to zero, I'm out. Period. Shame on me for not locking in profits.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #60,245
  • Jan 27, 2008 11:46pm Jan 27, 2008 11:46pm
Dude, you just made my night!... thank you so much.
JosV.


Quoting jarroo
What this means by definition is that you want to give your trade a chance to catch a big run. Now I've locked in 120 pips but if I close right now I would make about 185 pips. So if price moves up right now and takes me out. I DON"T CARE.

I will continue to watch price action for signs of reversal.

Jim
  • #60,246
  • Jan 28, 2008 12:05am Jan 28, 2008 12:05am
whoever is thinking to go long now, think twice.. for many reasons

Daily candle couldn't form above the daily gann hilo
we just got the first 4H candle below gann hilo
monthly n weekly trend are bearish

everything is bearish at the moment.. so be careful.. we might not have seen the bottom yet..

I could be wrong though
Trade what you see, not what you think.
  • #60,247
  • Jan 28, 2008 12:10am Jan 28, 2008 12:10am
Quoting karmostaji
whoever is thinking to go long now, think twice.. for many reasons

Daily candle couldn't form above the daily gann hilo
we just got the first 4H candle below gann hilo
monthly n weekly trend are bearish

everything is bearish at the moment.. so be careful.. we might not have seen the bottom yet..

I could be wrong though
agreed
  • #60,248
  • Jan 28, 2008 12:55am Jan 28, 2008 12:55am
yes.
Awaiting for the 1H QQE and ZL Stoch to cross up and get a good solid close about the upper TL on the 15/30M, then go with a small long.

We'll see where it goes.

But with the last few 15M bars we've had Higher Highs and Higher Lows.........

217.30 seems like the long term TP, once this turns North.
  • #60,249
  • Jan 28, 2008 2:29am Jan 28, 2008 2:29am
4 hour Pin Bar at S/R on the 4 hour. Up we go.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #60,250
  • Jan 28, 2008 2:57am Jan 28, 2008 2:57am
Here's the battle between the Daily Pin Bar (1-25-08)and the 4 hour Pin Bar at the 211.11 S/R. Who will win?
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #60,251
  • Jan 28, 2008 2:59am Jan 28, 2008 2:59am
Logic would dictate the higher time frame would win. Or, on the other hand, the most current price action, which is on the 4 hour.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #60,252
  • Jan 28, 2008 3:10am Jan 28, 2008 3:10am
tough part now is, what's our first TP area ?

214.1 ? Fridays High
212.26 ? the DP
215.16 ? Res 3
217.5 ? the 138.2 Fib Ext ?

Or just trail it at 65 pips and let it go ?
Since it's gonna be 2 am soon and I need some sleep this week.
Up to 3am and up at 7am all last week..... can't do it again...
  • #60,253
  • Jan 28, 2008 3:16am Jan 28, 2008 3:16am
Quoting jarroo
Logic would dictate the higher time frame would win. Or, on the other hand, the most current price action, which is on the 4 hour.

Jim
Talking about higher time frames. Take a look at the weekly and especially on the monthly. It's the end of the month so it can already be used. I'm taking my chances with the drop of gbp/jpy.
  • #60,254
  • Jan 28, 2008 3:18am Jan 28, 2008 3:18am
Quoting kujo17
tough part now is, what's our first TP area ?

214.1 ? Fridays High
212.26 ? the DP
215.16 ? Res 3
217.5 ? the 138.2 Fib Ext ?

Or just trail it at 65 pips and let it go ?
Since it's gonna be 2 am soon and I need some sleep this week.
Up to 3am and up at 7am all last week..... can't do it again...
Hard to say. I like the 212.26 its closer. lol

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #60,255
  • Jan 28, 2008 3:22am Jan 28, 2008 3:22am
Quoting shahroodi
so let see price can close below that area or bounce form that http://qsmile.com/qsimages/73.gif
in one of my brokers price closed below 4hr 50 ema and in the other was bounced form that. http://qsmile.com/qsimages/73.gif http://qsmile.com/qsimages/73.gif
time will tell us soon the dominant direction and possible scenarios. http://qsmile.com/qsimages/164.gif http://qsmile.com/qsimages/164.gif
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  • #60,256
  • Jan 28, 2008 3:29am Jan 28, 2008 3:29am
Quoting Pirin
Talking about higher time frames. Take a look at the weekly and especially on the monthly. It's the end of the month so it can already be used. I'm taking my chances with the drop of gbp/jpy.

Not sure what you see on the Monthly, but the weekly has a nice Bullish Pin Bar at strong S/R level 211.10. which we are at currently.
So I think you answered the question of who will win the battle. Its the higher time frame. The bullish Pin Bar on the weekly. We shall see.

Thanks,

Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #60,257
  • Jan 28, 2008 4:33am Jan 28, 2008 4:33am
I posted this 1hr chart last week and it looks to be still valid, 4hr target been hit, next target is daily.

Price failed to get above 213.56 (r1 last week) and stay above 211.80 and is now trading below this and this area should now be resistance. Until price makes it back above 211.80 and sustain GJ is a sell. . .

Also, price on 4hr trading below 4hr hi/lo gann and daily mom looks bearish - Still short @ 213 area cheers. . .
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  • #60,258
  • Jan 28, 2008 5:18am Jan 28, 2008 5:18am
wow man ... what should I say for this ... ? This guy rocks.
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Discipline + Patience - Fear - Greed = Success
  • #60,259
  • Jan 28, 2008 5:27am Jan 28, 2008 5:27am
Nice analysis Q, hope you took some profit at the 50 fib and 100sma on the 1H though. My hunch is that it is just consolidatory and the bearish bias will continue, the fact that wave4 did not breach wave1 of the move from 204 up to 214 (albeit there were only 12 pips in it), suggests to me that the 5th wave could still occur, possibly straddling new highs. There has been a definite bullish shift in bias on the higher time frames which should not be ignored.
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  • #60,260
  • Edited 6:05am Jan 28, 2008 5:45am | Edited 6:05am
Quoting birdt
Nice analysis Q, hope you took some profit at the 50 fib and 100sma on the 1H though. My hunch is that it is just consolidatory and the bearish bias will continue, the fact that wave4 did not breach wave1 of the move from 204 up to 214 (albeit there were only 12 pips in it), suggests to me that the 5th wave could still occur, possibly straddling new highs. There has been a definite bullish shift in bias on the higher time frames which should not be ignored.
Birdt,

Yep, took some profit down there but still have some shorts above (213 area). I agree, we might see GJ at new highs sometime this week as long as price is trading above daily hi/lo gann but I think we'll see 208.20/70 area before that happens as long as price is trading below daily pivot. If price climbs back above 211.80 area then the above will be negated and I will start buying when 1hr candle close above that area and price is above 4hr gann hi/lo (212.54) which is right above daily pivot @ 212.26. . .

Cheers. . .

I'm currently waiting for the daily candle to open to asses daily mom to see what GJ's day is going to bring us 2day. . .
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