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

  • #61,561
  • Feb 13, 2008 3:01am Feb 13, 2008 3:01am
Quoting karmostaji
Longer TF's + Patience = King
and Confluence.
Indicators show the past. Price Action "Indicates" the future.
  • #61,562
  • Feb 13, 2008 3:04am Feb 13, 2008 3:04am
Quoting doughboi
wouldnt go short until we hit 210.80 and 212.80, those are my take profits...they WILL get hit
what did i tell ya!
  • #61,563
  • Feb 13, 2008 3:07am Feb 13, 2008 3:07am
If you had a look at my chart yesterday when I mentioned that we broke out of the downtrend channel on 4H chart, after that price came back and tested it and it had turned into support and now UP we go, i'm expecting much higher in the coming days/weeks.

http://img120.imageshack.us/img120/6599/gjmh0.gif
Trade what you see, not what you think.
  • #61,564
  • Feb 13, 2008 3:10am Feb 13, 2008 3:10am
Quoting jarroo
and Confluence.
And a Karmo chart is nice to have as well.
Indicators show the past. Price Action "Indicates" the future.
  • #61,565
  • Feb 13, 2008 3:19am Feb 13, 2008 3:19am
Yay, getting another push up, whod a thunk it
"Millionaires don't use astrology, billionaires do"
  • #61,566
  • Feb 13, 2008 3:26am Feb 13, 2008 3:26am
According to fib extension levels, next target (%138 fib ext) sits on 212.15 and if broken, the second target will be 212.9 (%161.8 fib ext).

Closed my long position and waiting for the price to a ratrace to %38.2 or %50 fib to enter another long. ... after "Retail Sales" announcement ... 2 hours later ...
Discipline + Patience - Fear - Greed = Success
  • #61,567
  • Feb 13, 2008 3:30am Feb 13, 2008 3:30am
210.84 turned from resistance to support.
Trade what you see, not what you think.
  • #61,568
  • Feb 13, 2008 3:37am Feb 13, 2008 3:37am
Quoting arezab
According to fib extension levels, next target (%138 fib ext) sits on 212.15 and if broken, the second target will be 212.9 (%161.8 fib ext).

Closed my long position and waiting for the price to a ratrace to %38.2 or %50 fib to enter another long. ... after "Retail Sales" announcement ... 2 hours later ...
212.20 was a s/r point for so long
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 20 KB
  • #61,569
  • Feb 13, 2008 4:07am Feb 13, 2008 4:07am
i wouldnt be surprised if retail news was good. triple int wed
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #61,570
  • Feb 13, 2008 4:13am Feb 13, 2008 4:13am
Quoting moneymagnet
i wouldnt be surprised if retail news was good. triple int wed
makes sense
  • #61,571
  • Feb 13, 2008 4:16am Feb 13, 2008 4:16am
you're in a trade MM ?
  • #61,572
  • Feb 13, 2008 4:16am Feb 13, 2008 4:16am
Quoting zoheir
212.20 was a s/r point for so long
... right , I see 212.20 and 212.90 area are good resistance areas. If these levels are breached, I think 214 will be the third target.

This is what I see ...
Attached Image (click to enlarge)
Click to Enlarge Name: fibs.gif Size: 31 KB
Discipline + Patience - Fear - Greed = Success
  • #61,573
  • Edited 12:29pm Feb 13, 2008 4:21am | Edited 12:29pm
One thing that good S/R levels have in common is a good history. That history can be on the weekly, Daily, 4 hour or even the hourly. Higher the time frame the better.
Check out the 211.15-25 level on the weekly. Just something to keep in mind.

Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #61,574
  • Feb 13, 2008 4:23am Feb 13, 2008 4:23am
Quoting jarroo
One thing that good S/R levels have in common is a good history. That history can be on the weekly, Daily, 4 hour or even the hourly. Higher the time frame the better.
Check out the 211.15-25 level on the weekly. Just some thing to keep in mind.

Jim
yep, always good to see the "bigger" picture!
  • #61,575
  • Feb 13, 2008 4:36am Feb 13, 2008 4:36am
... for now 211.50 is acting as tough resistance. I expect this line to be removed after a small %38.2 retracement. ... depends on news though ... if the news helps I think over 212.20 and may be around 213 (as karmo said) will be available tonight.

Let's just wait and see what news brings us ...
Discipline + Patience - Fear - Greed = Success
  • #61,576
  • Feb 13, 2008 4:36am Feb 13, 2008 4:36am
Just rename your "momentum" to " Patience", and there you got it! The higher the value, the more patience you'll need!

Quoting karmostaji
Patience is the best indicator and it's not available on any platform
  • #61,577
  • Feb 13, 2008 4:38am Feb 13, 2008 4:38am
Quoting Rocroy
Just rename your "momentum" to " Patience", and there you got it! The higher the value, the more patience you'll need!
lol!
  • #61,578
  • Edited 8:12am Feb 13, 2008 6:04am | Edited 8:12am
http://www.tradingrooms.com/chartpos...2200818597.png

updated chart

http://www.tradingrooms.com/chartpos...2008161231.png
  • #61,579
  • Feb 13, 2008 7:15am Feb 13, 2008 7:15am
Here's a weekly updated chart for all. . .

Two major hurdles before hitting the 50% fib from the fall started @ 230 area in my opinion;

1) 200 SMA @ 213.23 which coincides with the 23.6% fib from the fall started @ 241 area (white fib lines)

2) 23.6% fib from the fall started at 251 area @ 215.53 (yellow fib lines)

Medium term reistance @ 214.46 which is the 38% fib started from the fall @ 230 area. . . (green fib line)

Otherwise, minor resistance in between to overcome, 214 being the 1st which is 100% retrace from the fall started @ 214. . . (red fib lines)

Feedback welcomed!
Attached Image (click to enlarge)
Click to Enlarge Name: weely chart updated.gif Size: 23 KB
  • #61,580
  • Feb 13, 2008 12:30pm Feb 13, 2008 12:30pm
... I feel like being so lonely here ... where is everybody ?
Discipline + Patience - Fear - Greed = Success
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