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

  • #63,541
  • Feb 26, 2008 6:32am Feb 26, 2008 6:32am
Quoting $teve
How do you get the price to appear on your fib levels?
highlight the fib, right click, under properties select fibo levels, add %$ to the description.

hope this helps.
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  • #63,542
  • Feb 26, 2008 6:39am Feb 26, 2008 6:39am
Quoting karmostaji
Price testing 213, tough resistance.
How high will we go??? Your analysis???
  • #63,543
  • Feb 26, 2008 6:40am Feb 26, 2008 6:40am
Quoting karmostaji
Price testing 213, tough resistance.

Wow 213 is a tough cookie...good thing i have karmos patience pills.
  • #63,544
  • Feb 26, 2008 6:46am Feb 26, 2008 6:46am
Quoting $teve
Testing the blue 15M trendline. There's still 9 more minutes. If it does break, I'll wait for a retrace before loading longs.
So did you long once price broke your line?
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  • #63,545
  • Feb 26, 2008 7:03am Feb 26, 2008 7:03am
Quoting jdogg4000
Wow 213 is a tough cookie...good thing i have karmos patience pills.
I think i would have needed to borrow his brown trousers as well if i had taken a position before the news...



Only joking.. good luck to you all.

John
  • #63,546
  • Feb 26, 2008 7:29am Feb 26, 2008 7:29am
Looking to long from a pullback.

211.90 or below sets up a short on a retrace back up, possible H&S or 123 in that secnario.
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  • #63,547
  • Feb 26, 2008 8:04am Feb 26, 2008 8:04am
Quoting auxesis
So did you long once price broke your line?
Thanks for the help with the fib levels. I did go long once the retest occur. As you can see on your chart, there were actually 3 retest candles. Traders respect trendlines as long as you draw them correctly.
  • #63,548
  • Feb 26, 2008 8:20am Feb 26, 2008 8:20am
Quoting auxesis
Looking to long from a pullback.

211.90 or below sets up a short on a retrace back up, possible H&S or 123 in that secnario.
I just woke up and checked the chart and saw this red trendline getting broken and retested. Short entry would have been at 211.70. This would have been a nice short trade for 30-50 pips without much drawdown if any at all but I missed it.
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  • #63,549
  • Feb 26, 2008 8:21am Feb 26, 2008 8:21am
I mean 212.70.
  • #63,550
  • Feb 26, 2008 8:33am Feb 26, 2008 8:33am
Quoting $teve
I just woke up and checked the chart and saw this red trendline getting broken and retested. Short entry would have been at 211.70. This would have been a nice short trade for 30-50 pips without much drawdown if any at all but I missed it.
How would you have known to short it ?

Try an rsi14 bearish divergence with a failure test of the 50 % fib extension of the 1-2-3 buy and a failure top of a linear regrsssion channel . Aslo 213 is the zone of the top of that ascending triangle on the daily.

212.5 long now.



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  • #63,551
  • Feb 26, 2008 8:33am Feb 26, 2008 8:33am
$teve,

Nice charts.

Everything is relative to the time frame traded. With price breaking the prior high 212.88 look for the 211.90ish area to hold key support for the daily trend. We just bounced off the .50 of that range.

In the short term on the 5's, price penetrated the last support of this up leg. 213.10 now holds resistance for the shorter view but this will unfold with lower resistance levels and entries north as long as the key 212.88 holds.

fwiw
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  • #63,552
  • Feb 26, 2008 8:34am Feb 26, 2008 8:34am
Quoting malcolmb14
How would you have known to short it ?

Try an rsi14 bearish divergence with a failure test of the 50 % fib extension of the 1-2-3 buy and a failure top of a linear regrsssion channel . Aslo 213 is the zone of the top of that ascending triangle on the daily.

212.5 long now.



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You just went long? what's your target?
Trade what you see, not what you think.
  • #63,553
  • Feb 26, 2008 8:48am Feb 26, 2008 8:48am
We've been testing this 4H trendline. This is why I don't like longs from here. If it's testing and not breaking, sooner or later it will bounce.
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  • #63,554
  • Feb 26, 2008 9:31am Feb 26, 2008 9:31am
Price is still in it's corrective down trend making lower lows / highs.

If the key support is to hold look for price to form a small consolidation range here to build some energy for it's next move.

longs to be taken on a retrace once this down trends resistance levels are broken.

fwiw
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  • #63,555
  • Feb 26, 2008 9:42am Feb 26, 2008 9:42am
my love price where is go ?

Never trouble trouble till trouble troubles you
  • #63,556
  • Feb 26, 2008 9:58am Feb 26, 2008 9:58am
looking to long from the bottom of the zone if seen, price breaking nort from here will raise the entry level on the following retrace.
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  • #63,557
  • Feb 26, 2008 10:10am Feb 26, 2008 10:10am
4 possibly 5 dojis in a row, make your mind up!
  • #63,558
  • Feb 26, 2008 10:54am Feb 26, 2008 10:54am
Didn't get the deeper retrace I had wanted, and now is getting later into the session than i like so a token long from here somehwhere if seen.

Dow's breaking to the top, but Cable is still stuck, IHMO price will range back to the top of the pattern and between for the remainder of the day.

Good trades everyone.

a
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  • #63,559
  • Feb 26, 2008 11:26am Feb 26, 2008 11:26am
We have a breach. 213.00.
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Indicators show the past. Price Action "Indicates" the future.
  • #63,560
  • Feb 26, 2008 11:27am Feb 26, 2008 11:27am
Quoting auxesis
Didn't get the deeper retrace I had wanted, and now is getting later into the session than i like so a token long from here somehwhere if seen.

Dow's breaking to the top, but Cable is still stuck, IHMO price will range back to the top of the pattern and between for the remainder of the day.

Good trades everyone.

a
auxesis, you give several analysis each time and all of them are different with each other. I suggest you to shift to higher TF's for giving your analysis rather than focusing on these 5M or 15M charts which are nothing but noises ... I think everybody is interested in how the main trend will move next and not in the directions of small fluctuations in 5M or so ...

Thank you for your attention.
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