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

  • #61,141
  • Feb 7, 2008 11:01pm Feb 7, 2008 11:01pm
Quoting jarroo
Daily Pin Bar kept. Looking to go long at a good break of 208.84 S/R level.
Price Action, S/R and high time frames.

Jim
Entered at 208.88. Lets see what happens.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,142
  • Feb 7, 2008 11:01pm Feb 7, 2008 11:01pm
Thought and Question Jaroo,

This daily pin bar, is only as big, due to the fact the news broke.

Go back a few days to the downward pin bar, yet momentum kept going UP before turning.

I think we'll see a small trip back down to 206.54-207.25 area, 61.8 retrace from this last move up.
Then, we make our turn around to 217-222 for the retrace from the big move down from 251-204.

What's your thoughts on the news having such an impact on the pin bar size and this being a cause of deception on it's sizes impact ?

kj
  • #61,143
  • Feb 7, 2008 11:18pm Feb 7, 2008 11:18pm
Quoting kujo17
Thought and Question Jaroo,

This daily pin bar, is only as big, due to the fact the news broke.

Go back a few days to the downward pin bar, yet momentum kept going UP before turning.

I think we'll see a small trip back down to 206.54-207.25 area, 61.8 retrace from this last move up.
Then, we make our turn around to 217-222 for the retrace from the big move down from 251-204.

What's your thoughts on the news having such an impact on the pin bar size
and this being a cause of deception on it's sizes impact ?

kj
I'm not news (fundamentals) guy. I play Price Action and S/R levels. The Pin Bar a few days ago was not in a good position. We like the location of a PB at the end of a nice size trend, but it did show some pips for the taking.

I guess what I'm saying is that I don't care how or why Price Action forms as long as it forms. The trade I'm in now shows some promise but no one know were price may go. Just get to that "free trade"(Thanks Karmo) as soon as you can.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,144
  • Feb 7, 2008 11:30pm Feb 7, 2008 11:30pm
Quoting jarroo
Entered at 208.88. Lets see what happens.

Jim
Just went long myself now.
  • #61,145
  • Feb 7, 2008 11:51pm Feb 7, 2008 11:51pm
Quoting forexmoments
Just went long myself now.
I saw link in your signature.
Wow,Do you provide free signal ? How much money do you put in the market..>
  • #61,146
  • Feb 7, 2008 11:54pm Feb 7, 2008 11:54pm
Quoting jarroo
Daily Pin Bar kept. Looking to go long at a good break of 208.84 S/R level.
Price Action, S/R and high time frames.

Jim
Hi Jim, I think 209.40 area is playing as a tough resistance region I see price just has been rejected from that area. If you watch the past you'll see price touched this line several times. It was support now it's turned into resistance. i'll wait until that line is broken and then I'll decide about long order ... .

Of course I see a clear Inverse H&S pattern here but I think it's wise to wait for breakout and even a retrace to the same area or below and then at the next breakout above the line to enter long position.

Good to mention yesterday's Pin Bar ... That breakout above 209.40 area (if happens) will build a bullish candle closed above the daily pin bar and closed higher than 209.70 (the high of the last daily bearish candle before pin bar), this is what I'm looking for which can be a good sigh to enter long.

Cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: resis.gif Size: 23 KB
Click to Enlarge Name: pin bar.gif Size: 17 KB
Discipline + Patience - Fear - Greed = Success
  • #61,147
  • Feb 8, 2008 12:07am Feb 8, 2008 12:07am
Quoting arezab
Hi Jim, I think 209.40 area is playing as a tough resistance region I see price just has been rejected from that area. If you watch the past you'll see price touched this line several times. It was support now it's turned into resistance. i'll wait until that line is broken and then I'll decide about long order ... .

Of course I see a clear Inverse H&S pattern here but I think it's wise to wait for breakout and even a retrace to the same area or below and then at the next breakout above the line to enter long position.

Good to mention yesterday's Pin Bar ... That breakout above 209.40 area (if happens) will build a bullish candle closed above the daily pin bar and closed higher than 209.70 (the high of the last daily bearish candle before pin bar), this is what I'm looking for which can be a good sigh to enter long.

Cheers
Nice arezab.

Good conservative approach. But some time you gotta pull the trigger on your 1st conformation with a small stop loss. (in my case ,that's 60-70 pips).

We are on the same page. Real nice, arezab.

Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #61,148
  • Feb 8, 2008 12:23am Feb 8, 2008 12:23am
goto 210.5xx today .because it's sideway 212-206
  • #61,149
  • Feb 8, 2008 12:23am Feb 8, 2008 12:23am
Quoting arezab
Good to mention yesterday's Pin Bar ... That breakout above 209.40 area (if happens) will build a bullish candle closed above the daily pin bar and closed higher than 209.70 (the high of the last daily bearish candle before pin bar), this is what I'm looking for which can be a good sigh to enter long.

Cheers
May add to my position if we break this level hard.

Oopps there it goes add at 209.42
Indicators show the past. Price Action "Indicates" the future.
  • #61,150
  • Feb 8, 2008 12:26am Feb 8, 2008 12:26am
Chart GBPJPY
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #61,151
  • Feb 8, 2008 12:33am Feb 8, 2008 12:33am
Hi Mate thank you so much for your post(s) and mention of your loss.
Started to wonder if i am the only person having losses (yes also on that trade)
All you guys are so awesome and clever you seem to know so much -am intimidated and scared to open my mouth -though have traded for 18months NOT successfully and read and read -so when you guys make a mistake -that to is helpful for a person like me . Thank you to all of you. n.
  • #61,152
  • Feb 8, 2008 12:35am Feb 8, 2008 12:35am
Quoting jarroo
Entered at 208.88. Lets see what happens.

Jim
Stop loss to +10 pips. Free trading.

Karmo would be proud.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,153
  • Edited 1:20am Feb 8, 2008 12:43am | Edited 1:20am
Quoting Novice
Hi Mate thank you so much for your post(s) and mention of your loss.
Started to wonder if i am the only person having losses (yes also on that trade)
All you guys are so awesome and clever you seem to know so much -am intimidated and scared to open my mouth -though have traded for 18months NOT successfully and read and read -so when you guys make a mistake -that to is helpful for a person like me . Thank you to all of you. n.
A lot good people on this thread. Don't be afraid to ask.

Learning from losses is how you win.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,154
  • Feb 8, 2008 12:44am Feb 8, 2008 12:44am
Quoting jarroo
Stop loss to +10 pips. Free trading.

Karmo would be proud.

Jim
Jarroo, what's ur possible TP area?
Be like a postage stamp. Stick to one thing until you get there.
  • #61,155
  • Feb 8, 2008 12:46am Feb 8, 2008 12:46am
Quoting saintvalx
Jarroo, what's ur possible TP area?
I have a S/R level at 209.90 area. I will see how price acts around here.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,156
  • Feb 8, 2008 12:49am Feb 8, 2008 12:49am
Forgot the chart.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #61,157
  • Feb 8, 2008 12:52am Feb 8, 2008 12:52am
Great charts jarroo
Trade what you see, not what you think.
  • #61,158
  • Edited 1:47am Feb 8, 2008 12:56am | Edited 1:47am
Quoting karmostaji
Great charts jarroo
Thanks karmo, I though I laid that trade out pretty good, for all to see.

Are Fibs talking to you? Telling you any secrets?

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #61,159
  • Feb 8, 2008 1:05am Feb 8, 2008 1:05am
Quoting jarroo
Thanks karmo, I though I laid that trade out pretty good for all to see.

Are Fibs talking to you? Telling you any secrets?

Jim
I'm still expecting atleast the daily 50% which is 217.xx, I'll keep holding onto longs for days/weeks if I have to, interest is great and we just had the 1st 4H candle above the Gann which is good news for the bulls. A break above 211 would break us out of this downward channel we are in for several days now.
Trade what you see, not what you think.
  • #61,160
  • Feb 8, 2008 1:13am Feb 8, 2008 1:13am
Quoting karmostaji
I'm still expecting atleast the daily 50% which is 217.xx, I'll keep holding onto longs for days/weeks if I have to, interest is great and we just had the 1st 4H candle above the Gann which is good news for the bulls. A break above 211 would break us out of this downward channel we are in for several days now.
Thanks, Karmo. Your analysis is always appreciated.

Jim
Indicators show the past. Price Action "Indicates" the future.
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