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

  • #62,961
  • Feb 21, 2008 10:18am Feb 21, 2008 10:18am
Quoting vinesh2
Edit: mean low 209 to high 208 area
We need it to break at 211.15 for a sure long signal on the beast. A lot of resistance/support on that level today
  • #62,962
  • Feb 21, 2008 10:25am Feb 21, 2008 10:25am
Quoting ovaforty
I sold at 211.74 when I saw the 4hour mom 1c showing retrace and before the news came out weak. I set my tp at 211.50 for a scalp. Damn, I set it way too high. Left a lot of pips on the table.
At least you didn't give pips away like candy and followed your rules. I had two small losses during asian session trying to catch the breakout and i usually never trade asian session with the geppy or at least i wait till closer to london. Man i am tired this currency pair sure knows how to keep me from my bed...LOL
  • #62,963
  • Feb 21, 2008 10:30am Feb 21, 2008 10:30am
Quoting parlenk
im sorry..i cant see your picture as a bullish..i mean...Hosh..hard to see anything...Kidding mate.
Hehhehehehe.
Just look at the moms below the chart. The rest of the noise is trendlines and sma's. I am buying dips today.
  • #62,964
  • Feb 21, 2008 11:02am Feb 21, 2008 11:02am
I am watching usd/jpy for clues. It is testing strong support trendline at 107.50 area now. Could be forming a triangle breakout. Either direction is possible until supp/res is broken.
  • #62,965
  • Feb 21, 2008 11:15am Feb 21, 2008 11:15am
Quoting vinesh2
Edit: mean low 209 to high 208 area


Volume does not support this bullish move right now. Also, price got rejected @ 211.80 resistance. . . Still short @ 211.74, see down below =
  • #62,966
  • Feb 21, 2008 11:16am Feb 21, 2008 11:16am
Is everyone bullish ? Price action seems mixed. Take a look at the 4h chart, that's the only valid fibo I have right now, blow straight through on lower TF's. Could we turn downward again ?
Attached Image (click to enlarge)
Click to Enlarge Name: gupopy4h.gif Size: 34 KB
Measure twice, cut once
  • #62,967
  • Feb 21, 2008 11:18am Feb 21, 2008 11:18am
Quoting aediaz1
Is everyone bullish ? Price action seems mixed. Take a look at the 4h chart, that's the only valid fibo I have right now, blow straight through on lower TF's. Could we turn downward again ?

Slap a volume indicator on your chart, I think it will speak volumes! =

BEAR volume - HUGE
BULL volume - MINIMAL!

PRICELESS!
  • #62,968
  • Feb 21, 2008 11:19am Feb 21, 2008 11:19am
I broke my positions into half. Just don't like NY sessions too unpredictable. I TP'd by short from 211.60 and have one more running from 210.58. So letss see where it goes I have 5SMA at 21040ish so would be interesting.
  • #62,969
  • Feb 21, 2008 11:21am Feb 21, 2008 11:21am
Quoting ovaforty
I am watching usd/jpy for clues. It is testing strong support trendline at 107.50 area now. Could be forming a triangle breakout. Either direction is possible until supp/res is broken.
UJ broke support @107.60/65 next support is 107.15/20 area. . . might see it at 107/106.95 before the session is over. . .
  • #62,970
  • Feb 21, 2008 11:25am Feb 21, 2008 11:25am
Quoting quecee5
UJ broke support @107.60/65 next support is 107.15/20 area. . . might see it at 107/106.95 before the session is over. . .
here is my 4 hour usd/jpy chart
Attached Image (click to enlarge)
Click to Enlarge Name: 4 hour ujjy.gif Size: 26 KB
  • #62,971
  • Feb 21, 2008 11:25am Feb 21, 2008 11:25am
Quoting DBallerz
We need it to break at 211.15 for a sure long signal on the beast. A lot of resistance/support on that level today
It failed at 211.80 resistance which should have been the biggest clue. It also broke the bull pennant formation then the bull flag formation. . .

It is now trading below the weekly pivot not a good sign right now. . . Hope longs had/have good SL's placed!
  • #62,972
  • Feb 21, 2008 11:29am Feb 21, 2008 11:29am
I will look for rejection confirmation then add longs for tomorrow. I dont wanna try and pick a bottom.
  • #62,973
  • Feb 21, 2008 11:31am Feb 21, 2008 11:31am
Quoting ovaforty
here is my 4 hour usd/jpy chart
4hr UJ chart 4 u. . .
As stated in my earlier post 107.65 support was broken signaling more downside in UJ thus GJ. . .
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr uj chart.gif Size: 34 KB
  • #62,974
  • Feb 21, 2008 11:35am Feb 21, 2008 11:35am
Closed other half at 211.50. To many signs of reversal. May enter longs again if Price finds support at 210.24 and/or 209.90.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #62,975
  • Feb 21, 2008 11:37am Feb 21, 2008 11:37am
Quoting ovaforty
I will look for rejection confirmation then add longs for tomorrow. I dont wanna try and pick a bottom.

  • #62,976
  • Feb 21, 2008 11:37am Feb 21, 2008 11:37am
Quoting quecee5
4hr UJ chart 4 u. . .
As stated in my earlier post 107.65 support was broken signaling more downside in UJ thus GJ. . .
resembles a triple bottom....
  • #62,977
  • Feb 21, 2008 11:38am Feb 21, 2008 11:38am
Easy day to trade, I love such days
Trade what you see, not what you think.
  • #62,978
  • Feb 21, 2008 11:38am Feb 21, 2008 11:38am
i originally shorted at 211.84, but i got stopped out at 211.79.

then this morning (pacific time) i shorted at 211.15 when it was coming back up. i was confident that it was going down due to the dow condition today.

everyone must watch out today.

if the dow drops another 100+, this will go below 210 today.

just be cautious when you want to play long today.
do not just get in because it hit the fib mark unless you're scalping.

i may short this again if it retraces up to about 210.80-211.00 range as watching the dow numbers.

good luck,
  • #62,979
  • Feb 21, 2008 11:39am Feb 21, 2008 11:39am
Quoting quecee5
Slap a volume indicator on your chart, I think it will speak volumes! =

BEAR volume - HUGE
BULL volume - MINIMAL!

PRICELESS!

do you use custom volumes indicator? or just volumes that comes w/ the MT4
  • #62,980
  • Feb 21, 2008 11:40am Feb 21, 2008 11:40am
... stopped out with +1 ... I was hoping 210.70 to stay as a good support but it couldn't hold it. If it closes above daily pivot I'll enter long again around 209.90 - 210 area.
Discipline + Patience - Fear - Greed = Success
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