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

  • #61,221
  • Feb 8, 2008 12:01pm Feb 8, 2008 12:01pm
quecee hey, you talk about holding longs on eur/usd,....just curious, how far do you feel it is going to go up?......,and for 2 weeks??!!?!.......so your saying that we are at the bottom huh?
  • #61,222
  • Feb 8, 2008 12:10pm Feb 8, 2008 12:10pm
FWIW Dow still capped
Patience + Humility + Study = Success
  • #61,223
  • Feb 8, 2008 12:12pm Feb 8, 2008 12:12pm
Quoting quecee5
I'll probably close out my trades at 212/211.80 later today and that will put me well over 1,150 pips but that's over 5-7 days of holding. So I lose a little on the interest esp. on wed. That's why I scalp (counter-trend) the rallies to make up for the interest losses. . . But I don't have to do it as often because the moves up on GJ have been huge 100, 150, 200 pips at a time...

.
Hello Queccee: I have been reading your posts regularly and learning from them. Do you anticipate GJ going up to 211.80 by this afternoon. It has a very bullish pattern, however, dow is down at this time. Do you figure it would go up in the next hour or so?

Thanks
  • #61,224
  • Feb 8, 2008 12:14pm Feb 8, 2008 12:14pm
Quoting doughboi
quecee hey, you talk about holding longs on eur/usd,....just curious, how far do you feel it is going to go up?......,and for 2 weeks??!!?!.......so your saying that we are at the bottom huh?
I think EU will see 1.5 or higher very soon, and yes I think EU for the most part has seen its bottom but it could go a bit lower to 1.4399/1.4360 area. . . very possible. But as long as it stays above that area I'm a buyer. . .

I think we'll see it go up once UJ has exhausted this bounce and continue on with the bigger trend which is down. As long at the Feds continue to intervene and prolong the inevitable I'll just wait it out until people realize the US economy is in worst shape than they want to believe and they must let the chips fall were they may. . .

Anyway, I don't have a time frame for when EU will reach this destination but I will continue to hold until I see something that tells me otherwise. As soon as it completes this 4th wave down (if not already) we'll see it consolidate and then go up to complete the 5th and final wave up. . .
  • #61,225
  • Feb 8, 2008 12:23pm Feb 8, 2008 12:23pm
Quoting Loadthepips
Hello Queccee: I have been reading your posts regularly and learning from them. Do you anticipate GJ going up to 211.80 by this afternoon. It has a very bullish pattern, however, dow is down at this time. Do you figure it would go up in the next hour or so?

Thanks
Nope, I don't think it will see that level this afternoon unless the DOW has one hella'va rally. It's Friday and volume tends to dry up the later the afternoon esp. when there's nothing really happening. . .

Right now 209.40 resistance seems to be tough for GJ to overcome with thin trading. Also, there is resistance above at 210.58 which is the weekly pivot. IMO, a close below it is bearish and the fact they we will be making yet another lower high on the 4hr chart tells me that we could see it go down further but that's all contingent on where it closes this afternoon.

Here is a chart for u, it explain my position and why, but this it just what I see. . . The white lines is where I think GJ could go up or down. . . But also look at the big picture which is a daily and perhaps a weekly chart as well. It all depends on your trading style which many people have on this thread meaning, scalper, day trader, long term trader, etc. . .
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  • #61,226
  • Feb 8, 2008 12:32pm Feb 8, 2008 12:32pm
Quoting vinesh2
Ok since you insist on holding EU i will hold it. You know why cause I have immense for you! lol. I am trying to switch to longer term trade too so far so good and you are right about the wifey thing I am having the same issue bro we all are in the same boat trying to get my wifey into trading but she doesn't like it. Imagine we both trade she can do NY I can do UK cha ching all the way lol! Have a awesome weekend bro and take your wifey for some retail therapy I am sure she is going to appreciate it.
V,

If you decide to hold, hold it because u have done your DD (due diligence) and feel based on your analysis that it will go where you are expecting it to go.

I post my analysis in hopes to get feedback on why others agree or think otherwise not as trade calls. . .

I love hearing others point of view in this crazy market we choose to trade in to keep a balanced perspective and to continue learning. One thing I've learned as a trader is never fall in love with a position because the market can reverse trends faster than u can blink your eye. . .

Anyway, keep a higher faith 1st, family, then job and money and you'll be on the right track my friend. Thank you for all the kind words and have a great weekend and enjoy some of those profits u earned it!
  • #61,227
  • Feb 8, 2008 1:09pm Feb 8, 2008 1:09pm
Quoting quecee5
Here is a chart for u, it explain my position and why, but this it just what I see. . . The white lines is where I think GJ could go up or down. . . But also look at the big picture which is a daily and perhaps a weekly chart as well. It all depends on your trading style which many people have on this thread meaning, scalper, day trader, long term trader, etc. . .

Thank You Q as always for a very detailed explanation. Hope to be like you one day. The price has now dropped below 207.98, looks to be bearish.

Once again. Thanks. May the pips be with you.
  • #61,228
  • Feb 8, 2008 1:29pm Feb 8, 2008 1:29pm
Quoting Loadthepips
Thank You Q as always for a very detailed explanation. Hope to be like you one day. The price has now dropped below 207.98, looks to be bearish.

Once again. Thanks. May the pips be with you.
U r very welcomed. . .

Btw, price is still bouncing between 209 and 208.80 for the most part. A close below 208.80 would be bearish in my opinion and open up the door for 207.98 which is the daily pivot. . . JMHO!
  • #61,229
  • Feb 8, 2008 1:58pm Feb 8, 2008 1:58pm
Quoting quecee5
U r very welcomed. . .

Btw, price is still bouncing between 209 and 208.80 for the most part. A close below 208.80 would be bearish in my opinion and open up the door for 207.98 which is the daily pivot. . . JMHO!
208.80

kind of an h and s pattern as pipchick would point out?.... i think if we close above there it may go up for a bit? triple bottom area (on 5 m chart) indicating support maybe? just my 2 cents tho
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  • #61,230
  • Feb 8, 2008 2:08pm Feb 8, 2008 2:08pm
Quoting dagoods
208.80

kind of an h and s pattern as pipchick would point out?.... i think if we close above there it may go up for a bit? triple bottom area (on 5 m chart) indicating support maybe? just my 2 cents tho
Lets see what DOW close look like @ 4 pm est.. . . u could be correct!
  • #61,231
  • Feb 8, 2008 2:54pm Feb 8, 2008 2:54pm
Enjoy the Weekend Guys!
  • #61,232
  • Feb 8, 2008 4:36pm Feb 8, 2008 4:36pm
I am not paying a whole lot of attention today on what Geppy may or may not be doing, after the London session.
  • #61,233
  • Feb 9, 2008 6:04am Feb 9, 2008 6:04am
Quoting dagoods
208.80

kind of an h and s pattern as pipchick would point out?.... i think if we close above there it may go up for a bit? triple bottom area (on 5 m chart) indicating support maybe? just my 2 cents tho
Dont ya just love that pattern dag? Now add the fibs and I believe there is no more powerful pattern that that.
  • #61,234
  • Feb 9, 2008 7:29am Feb 9, 2008 7:29am
Quoting PipChick
Dont ya just love that pattern dag? Now add the fibs and I believe there is no more powerful pattern that that.
Very nice pattern indeed.
  • #61,235
  • Feb 9, 2008 10:08pm Feb 9, 2008 10:08pm
Here's a link to an interesting concept. I'm not affiliated with them in any way, and it's not a solicitation to buy. It was posted by someone else several months ago and I think the online video clips are worth watching. Hope you agree:

http://www.socionomics.net/films/his...1&speed=medium
  • #61,236
  • Feb 9, 2008 10:53pm Feb 9, 2008 10:53pm
Since I trade medium term now (weeks), I look at weekly/daily charts and trade, so here's my analysis of GJ. IMO a good retracement is due, atleast to the famous 50% which is 223, where a strong support was broken and never tested again, so it should be a very strong resistance now. The weekly QQE is also at the bottom of it's range, very very close to oversold area. I like to keep things simple and stupid.

http://img143.imageshack.us/img143/2071/gjvx0.gif
Trade what you see, not what you think.
  • #61,237
  • Feb 10, 2008 3:38am Feb 10, 2008 3:38am
Quoting quecee5
Lets see what DOW close look like @ 4 pm est.. . . u could be correct!
Q,

Would you share your indicator of zero lag stochastic and Momentum? If possible, also the template.

May pip always with u.

Cheers, thanks, terima kasih (indonesia language), nuhun (my local language)

Ipal
  • #61,238
  • Feb 10, 2008 4:59am Feb 10, 2008 4:59am
[quote=karmostaji;1843289]Since I trade medium term now (weeks), I look at weekly/daily charts and trade, so here's my analysis of GJ. IMO a good retracement is due, atleast to the famous 50% which is 223, where a strong support was broken and never tested again, so it should be a very strong resistance now. The weekly QQE is also at the bottom of it's range, very very close to oversold area. I like to keep things simple.
--------------------------------------------------------

dear Karmo.,
U're very famous and cool,
I'm no one n newbie, quoting you is like taking ur autograft..hee.,
I agree with U.,
could you tell me if candlestick pattern telling you something at this level?
And could you give an opinion from your experience n knowledge about H&S at those weekly chart?After break of neckline n going down successfully to estimated pips( from eagle's eye to neckline) which was around 204 level.,do they again almost always going up to the level of previous neckline for a 'retracement,?
Thanks.
  • #61,239
  • Feb 10, 2008 5:05am Feb 10, 2008 5:05am
Quoting Dat7447
dear Karmo.,
U're very famous and cool,
I'm no one n newbie, quoting you is like taking ur autograft..hee.,
I agree with U.,
could you tell me if candlestick pattern telling you something at this level?
And could you give an opinion from your experience n knowledge about H&S at those weekly chart?After break of neckline n going down successfully to estimated pips( from eagle's eye to neckline) which was around 204 level.,do they again almost always going up to the level of previous neckline for a 'retracement,?
Thanks.
Looking at the weekly chart, it seems price has found a good support around 209 area, it wasn't able to close well below this price level for 4 weeks and a retracement is due IMO. Regarding H&S, I have no clue about such patterns.. whatever I have learned is from PipChick here on FF, but based on fibo levels and my experience with this beast, it loves the 50% a lot and coincidently we had a good support that was broken at that area and never tested. We'll find out how it plays out in the coming weeks.

Patience.
Trade what you see, not what you think.
  • #61,240
  • Feb 10, 2008 5:48am Feb 10, 2008 5:48am
Just want to share even though karmo had shown it.,
TF weekly.
241.35 is chosen as 100 % fibo(this is the level of successful retracement from 251.07--)219.29.

246.00 horizontal line is my eagle' eye H&S.
225.00 is the neckline.
After break of neckline, estimated completion of successful H&S were about 2100 pips,thus 204.00 is the gross estimation.(GJ reach 204.59)

Stoch setting 8,3,3 was previously low to about 8 and currently going to 20 level.QQE bottom low.Divergence is there.Previous good support approximate to 50% fibo could be tested again.
Then GJ would move far down to 195 level(or more?)
If this retracement happen I rather called this as denial/anger towards UK economy, and then bargaining,depression and acceptance will take place.
Attached Image
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