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

  • #62,901
  • Feb 21, 2008 5:35am Feb 21, 2008 5:35am
I missed this big rally but I don't wanna enter counter trend. I'll wait for a dip to enter buy. QQE H4 has crossed above 50, so from now on, I'll buy dips and also when I see good bullish divergence.

A bearish gartley is forming on H1 but it is still immature. It has room up to 213.10 ...
Discipline + Patience - Fear - Greed = Success
  • #62,902
  • Feb 21, 2008 5:35am Feb 21, 2008 5:35am
Quoting VagyokC4
R2 Seems to be holding... Any other analysis out there??
The Dow Jones is about to break.

http://www.forexfactory.com/showpost...postcount=5159

http://www.forexfactory.com/attachme...1&d=1203592715
  • #62,903
  • Feb 21, 2008 5:35am Feb 21, 2008 5:35am
yeah....Gj hit my Target...Beware guy..i see...Gj want to reverse now at H1...good luck just my personal preview
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  • #62,904
  • Feb 21, 2008 5:36am Feb 21, 2008 5:36am
Quoting aediaz1


Adjusting TP for blue circle, any1 gonna ride it higher?
I'm on up to 212.5 4H 61.8fib
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  • #62,905
  • Feb 21, 2008 5:39am Feb 21, 2008 5:39am
the MaCD and Stoch Histogram were showing some sign that it would retreat.
it just bounced 5min chart 20EMA.

let's see if it breaks that line and tank.
if not, i will be stopped out at 5pip gain (US$150). this is a free rider for me.
i set the t/p at 211.

when i calculated the fib, i used the points from today's bottom and the top.

let's see if this will continue on or go back down, maybe a half way back?
  • #62,906
  • Feb 21, 2008 5:48am Feb 21, 2008 5:48am
Quoting aediaz1
Seems to reversal, but this kind of setup is where you need to be careful. Smaller positions and tighter S/L IMO. Why? you are trading against the daily trend, and big buying positions could occur anytime, without any for-signs on your indicator.
What daily trend ?????

We just were in a daily range so anything may happen....especially the start of a new uptrend...

Just what I see for my 2 cents
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  • #62,907
  • Feb 21, 2008 5:51am Feb 21, 2008 5:51am
good luck, longs.
  • #62,908
  • Feb 21, 2008 5:55am Feb 21, 2008 5:55am
Quoting javajames
What daily trend ?????

We just were in a daily range so anything may happen....especially the start of a new uptrend...

Just what I see for my 2 cents
As in today. Chart post will make you understand.
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Measure twice, cut once
  • #62,909
  • Feb 21, 2008 6:03am Feb 21, 2008 6:03am
We might be going for the break of the trendline today folks. Depends what the DOW wants to do today.
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  • #62,910
  • Feb 21, 2008 6:06am Feb 21, 2008 6:06am
Following my last post of yesterday.

Double bottom off 209.2 on 60 min with bull divergence rsi right on 61.8% fib of 205.87 to 213,86 gave it all away. Been long since this price level and closed at 211.70 as price dropped off fib level.

Also triple bottom on GBPUSD daily with bull divergence rsi said GBP was going up.

Right now we are hitting the 23.6% fib at 212. Looks like we might be setting up in an evening star doji on the 60 min, however we all know the GBPJPY is the best pair at faking these. RSI14 is overbought on multiple time frames up to 2 hour.

If DJ-30 drops off that 12500 level then we may see GBPJPY pull back today at least into 210.8 , if it breaks that level then hello to 214 , even though the rsi14 is so overbought.

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  • #62,911
  • Feb 21, 2008 6:06am Feb 21, 2008 6:06am
Quoting aediaz1
As in today. Chart post will make you understand.
OK but I generally don't trust these short TF, or just for my entries ....never for trend TP or SL

question of style...
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  • #62,912
  • Feb 21, 2008 6:08am Feb 21, 2008 6:08am
Quoting javajames
OK but I generally don't trust these short TF, or just for my entries ....never for trend TP or SL

question of style...
You said it !
Measure twice, cut once
  • #62,913
  • Feb 21, 2008 6:14am Feb 21, 2008 6:14am
Ever heard of the contrarian indicator ?

Yesterday most on this forum thought gbpjpy going down so you go long

Now most think gbpjpy going higher so you go short.

In another club traders were all saying dj-30 going down , so I went long the index at 12,000 , closed 12,600 , effectively same as making 600 pips profit.

LOL ...... the big money guys want all traders to think the same so they can mess with them and take their money. I bet there are a lot of members in this forum hurting today due to the boost the GBP got overnight.

Never forget even the forex market can be manipulated. (this comment aimed at you newbies out there).
Blogging daily now at www.volume.zone
  • #62,914
  • Feb 21, 2008 6:18am Feb 21, 2008 6:18am
Quoting aediaz1
Closing most of positions @ 50 but think we could see 211.75 too. How long will you ride this karmo ?


30min chart too
closed longs at 211.70, will wait for some retrace to load up more longs, trend is up for me.
Trade what you see, not what you think.
  • #62,915
  • Feb 21, 2008 6:31am Feb 21, 2008 6:31am
Congrats to all longs. . .!
  • #62,916
  • Feb 21, 2008 6:34am Feb 21, 2008 6:34am
Quoting karmostaji
closed longs at 211.70, will wait for some retrace to load up more longs, trend is up for me.
http://img509.imageshack.us/img509/298/gjuv0.gif
Trade what you see, not what you think.
  • #62,917
  • Feb 21, 2008 6:41am Feb 21, 2008 6:41am
Quoting karmostaji
closed longs at 211.70, will wait for some retrace to load up more longs, trend is up for me.
If this happens here are fib values of 209.2 to 212 run

23.6 = 211.26
38.2 = 210.83
50= 210.50
61.8 =210.16


Typically retracements are 50 % or 61.8% fibs

Currently I am flat , but am looking for clean break out of 212 or break down of 211.5 for a quick 80-100 pip scalp.
Blogging daily now at www.volume.zone
  • #62,918
  • Feb 21, 2008 6:42am Feb 21, 2008 6:42am
Price is struggling to breach 211.80 - 212 which seems to be a tough barrier. Based on my fib extensions if it succeeds to pass this line, 212.50 will be my target for now. I'm waiting to see what price action gives me ...
Discipline + Patience - Fear - Greed = Success
  • #62,919
  • Feb 21, 2008 6:56am Feb 21, 2008 6:56am
Thanks to markam's pessimistic comment about the sensationalized Bank scandal, I seem to be lucky everything he posts his over-estimated short scoop.
  • #62,920
  • Edited 7:11am Feb 21, 2008 6:57am | Edited 7:11am
Quoting arezab
Price is struggling to breach 211.80 - 212 which seems to be a tough barrier. Based on my fib extensions if it succeeds to pass this line, 212.50 will be my target for now. I'm waiting to see what price action gives me ...
212.5 seems a good target: convergence of 4H 61.8 fib and the famous 200 ema....
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