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

  • #61,101
  • Feb 7, 2008 6:32am Feb 7, 2008 6:32am
I went short at 208.12 when it got rejected at 38.2. Q, i am targeting Daily s3 and then will reasses. Have to go to work though now :-(
  • #61,102
  • Feb 7, 2008 7:06am Feb 7, 2008 7:06am
Quoting vinesh2
I went short at 208.12 when it got rejected at 38.2. Q, i am targeting Daily s3 and then will reasses. Have to go to work though now :-(
U will be holding on to the shorts for a while, 1 have shorts @ 213.60, 212 area, 211.80 area, 210.60 area and 209.70 area. . . I'm targeting 2.000 long-term. . .

I also just bought EU at 1.450 area target 1.5000. . .

Cheers. . .
  • #61,103
  • Feb 7, 2008 8:06am Feb 7, 2008 8:06am
I have a gap up on my 15 min usd/jpy chart
  • #61,104
  • Feb 7, 2008 8:09am Feb 7, 2008 8:09am
I took profits on 4 of my 5 shorts. still holding one with a +20 stop loss
  • #61,105
  • Feb 7, 2008 9:37am Feb 7, 2008 9:37am
Same here nro I had a pending order of EU at 1.4571 targeting around 1.49 area. Are you doing anything with EJ? I took a long at 154.89. been a good day up 261pips hey thanks for those pivot levels dude they help me setting targets and good entries. I am trying my best to get good at FIB that 208.12 entry was based on FIB saw it bounce off 38.2 level and took the short.;
  • #61,106
  • Feb 7, 2008 10:05am Feb 7, 2008 10:05am
Quoting quecee5
U will be holding on to the shorts for a while, 1 have shorts @ 213.60, 212 area, 211.80 area, 210.60 area and 209.70 area. . . I'm targeting 2.000 long-term. . .

I also just bought EU at 1.450 area target 1.5000. . .

Cheers. . .
Closed 2 short lots (209.70 and 210.60) @ 205.90 for 850 pips =
Still holding shorts @ 213.60 and 211.80 area, will probably have these for a while. . .

Patience always pay off. . .
  • #61,107
  • Feb 7, 2008 10:11am Feb 7, 2008 10:11am
Quoting vinesh2
Same here nro I had a pending order of EU at 1.4571 targeting around 1.49 area. Are you doing anything with EJ? I took a long at 154.89. been a good day up 261pips hey thanks for those pivot levels dude they help me setting targets and good entries. I am trying my best to get good at FIB that 208.12 entry was based on FIB saw it bounce off 38.2 level and took the short.;
I bought a small lot of EJ at 154.10 area looking to hold long for a while, however my sl loss is @ 152.00. . I might add down just all depends on. . .

As for EU I added to my position @ 1.4480 area, plan to hold this for awhile. Like I said earlier, looking to ride the wave up to at least 1.500 area. . .
  • #61,108
  • Feb 7, 2008 10:15am Feb 7, 2008 10:15am
Dude you are a dam genius. You should be awarded the PipsAward! make your classification as 2Kt or somethig! have a lot of respect for you
  • #61,109
  • Feb 7, 2008 10:23am Feb 7, 2008 10:23am
Quoting vinesh2
Dude you are a dam genius. You should be awarded the PipsAward! make your classification as 2Kt or somethig! have a lot of respect for you
No genius here just reading the charts. . .
As I've been stating for the last month, sell all rallies in a downtrend market and let the chart tell us when to buy long-term. . .

Also, as long as price is trading under 214.00, GJ will continue to be a sell in my eyes. A break above and I will consider buying short-term to at least 217.50. . . But I think we see 200.00 and lower before we see 217.50 IMO.

GJ has broken 208.80 support so we should see a re-test of the low and possible lower. . . Lower highs and lower lows spells lower GJ. . .
  • #61,110
  • Feb 7, 2008 10:34am Feb 7, 2008 10:34am
We may see 204.50 area again IMO 100 SMA on Weekely if Weekley S2 is taken out. 204.50 area has been tested previosuly so if thats brokn definitly going to see 200 but its going to be very hard to break that 204 area. Who know I am not in any GJ trade right now waiting for a little retrace up to ateast Daily S2 or even Daily s1
  • #61,111
  • Feb 7, 2008 10:41am Feb 7, 2008 10:41am
Quoting quecee5
No genius here just reading the charts. . .
As I've been stating for the last month, sell all rallies in a downtrend market and let the chart tell us when to buy long-term. . .

Also, as long as price is trading under 214.00, GJ will continue to be a sell in my eyes. A break above and I will consider buying short-term to at least 217.50. . . But I think we see 200.00 and lower before we see 217.50 IMO.

GJ has broken 208.80 support so we should see a re-test of the low and possible lower. . . Lower highs and lower lows spells lower GJ. . .

Patience + Humility + Study = Success
  • #61,112
  • Feb 7, 2008 10:51am Feb 7, 2008 10:51am
Quoting jarroo
Price is hungry for that 207.00, which is a strong S/R level.
So hungry I can even taste it. I went short after the rejection of the 208.84 S/R.

Jim
Yeah, it tastes a little like chicken.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,113
  • Feb 7, 2008 11:10am Feb 7, 2008 11:10am
Quoting quecee5
Closed 2 short lots (209.70 and 210.60) @ 205.90 for 850 pips =
Still holding shorts @ 213.60 and 211.80 area, will probably have these for a while. . .

Patience always pay off. . .



you are officially my hero

PS i need bigger and stronger karmo pills
  • #61,114
  • Feb 7, 2008 12:03pm Feb 7, 2008 12:03pm
Quoting dagoods



you are officially my hero

PS i need bigger and stronger karmo pills
Don't believe everything you read.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,115
  • Feb 7, 2008 12:06pm Feb 7, 2008 12:06pm
Quoting jarroo
Don't believe everthing you read.

Jim
Trade what you see, not what you think.
  • #61,116
  • Feb 7, 2008 12:53pm Feb 7, 2008 12:53pm
Does anybody see this pin bar on daily time frame?
I think if another daily candle closes above previous bearish candle tomorrow (209.70 area), next week will be a bullish week with high probability to break 214 resistance and head up to 217.50 then we can count on bears and target 200 area.

If we see another major fall tomorrow which negates this nice pin bar, then then bears will continue their journey next week down toward 200 area.

I've been studying james price action thread and I think after almost 10 days bearish movement, such a nice pin bar counts (if it keeps).

What do you think?
Discipline + Patience - Fear - Greed = Success
  • #61,117
  • Feb 7, 2008 1:10pm Feb 7, 2008 1:10pm
Quoting arezab
Does anybody see this pin bar on daily time frame?
I think if another daily candle closes above previous bearish candle tomorrow (209.70 area), next week will be a bullish week with high probability to break 214 resistance and head up to 217.50 then we can count on bears and target 200 area.

If we see another major fall tomorrow which negates this nice pin bar, then then bears will continue their journey next week down toward 200 area.

I've been studying james price action thread and I think after almost 10 days bearish movement, such a nice pin bar counts (if it keeps).

What do you think?
AS FOREXNOVICE POINTED OUT LAST WEEK.... PA is king... here is "pinbar" on the weekly as it looks right now...... what would james 16 say?

here is amonthly PA snapshot... the arrow shows the resistance turned support.... that is currently supporting price... how long will it hold...will price retrace from here? how far will it retrace?

i have no idea lol ask Karm fn quecee etc...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gj29.gif Size: 13 KB
  • #61,118
  • Feb 7, 2008 1:11pm Feb 7, 2008 1:11pm
Hi Karmo,

Are you posting regularly somewhere ?

I liked very much your analysis.....
Non licet omnibus adire Corinthum
  • #61,119
  • Edited 2:36pm Feb 7, 2008 1:14pm | Edited 2:36pm
Quoting arezab
Does anybody see this pin bar on daily time frame?
I think if another daily candle closes above previous bearish candle tomorrow (209.70 area), next week will be a bullish week with high probability to break 214 resistance and head up to 217.50 then we can count on bears and target 200 area.

If we see another major fall tomorrow which negates this nice pin bar, then then bears will continue their journey next week down toward 200 area.

I've been studying james price action thread and I think after almost 10 days bearish movement, such a nice pin bar counts (if it keeps).

What do you think?
Good eye. Price Action is King, especially on higher time frames. "if it keeps" is an important point here. Also check the weekly Price Action, looks to be a turning point by the forming an indecision candle (spinning top) "if it keeps".
The James16 thread should be required study for all trading (imo).

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,120
  • Feb 7, 2008 1:18pm Feb 7, 2008 1:18pm
Quoting javajames
Hi Karmo,

Are you posting regularly somewhere ?

I liked very much your analysis.....
I post here in this thread a couple of times a day.
Trade what you see, not what you think.
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