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

  • #63,701
  • Feb 27, 2008 8:03am Feb 27, 2008 8:03am
Let's try this again. Looking to go long at the break of the 211.48 with confirmation of that long position with the a break of the 211.94.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #63,702
  • Feb 27, 2008 8:05am Feb 27, 2008 8:05am
Hi Piters,

Just want to comment a little on your daily H&S setup.Do you think it still on, IMO that setup already fullfill.I use a line as a replacement for the bar/candle on that setup and i got 204.xx as a projection point(HIT).But it just my opinion tho.Cheers.

Quoting Piters
Hi Guys, I want to show you something.. Have a look Big PICTURE


Our H&S, is still in Play, look @ Daily chart.... We are between 2 very strong TL the last 33 DAYS !!, Breaking each is going to show us a direction..


Cheers !


  • #63,703
  • Feb 27, 2008 8:11am Feb 27, 2008 8:11am
Jaroo, that's a good resistance levels, also g/j is completely oversold on RSI and Stoch, so even if the comming home sales will be a lil better, we would try at least a test of 2nd RL. Hope Bernanke won't say that they were too slow on us economy outlook and blablabla...
If you do - don't be afraid, if you are afraid - don't do
  • #63,704
  • Feb 27, 2008 8:11am Feb 27, 2008 8:11am
Can you post a chart PLS??
---------------------------------------------------------------

my comment:
-------------

Usually the target from NL should be apx. the same as the distance from top 251.10 to the NL. (217.70)

...Also, just have a look @ pattern on both consolidations 5/3, then another move Down..(the first pict.)


but we wait and see.

cheers
  • #63,705
  • Feb 27, 2008 8:18am Feb 27, 2008 8:18am
Piters, let me try to post a H&S chart,
i love to do it
Attached Image (click to enlarge)
Click to Enlarge Name: hs.gif Size: 27 KB
If you do - don't be afraid, if you are afraid - don't do
  • #63,706
  • Feb 27, 2008 8:18am Feb 27, 2008 8:18am
http://www.forexfactory.com/showpost...ostcount=61996

Quoting Piters
Can you post a chart PLS??

cheers
  • #63,707
  • Feb 27, 2008 8:22am Feb 27, 2008 8:22am
Quoting karmostaji
Indicators show the past. Price Action "Indicates" the future.
  • #63,708
  • Feb 27, 2008 8:22am Feb 27, 2008 8:22am
GBP-USD has come off sharply off its highs of 1.9975 seen earlier in the day on back of persistent rumors of a bank in trouble in the UK. This has caused a rally in EUR-GBP.

source
  • #63,709
  • Feb 27, 2008 8:22am Feb 27, 2008 8:22am
I thought we were looking at a smaller time frame, but still that H&S looked just fine! Imagine hs in hs...lol
If you do - don't be afraid, if you are afraid - don't do
  • #63,710
  • Feb 27, 2008 8:22am Feb 27, 2008 8:22am
Here is another pic from daily..i post it before from weekly chart.IMO
Attached Image (click to enlarge)
Click to Enlarge Name: gjdaily.GIF Size: 17 KB
  • #63,711
  • Edited 8:48am Feb 27, 2008 8:32am | Edited 8:48am
That's fine,

I was talking about Daily Chart H/S formation from 251.10 as TOP, and NL @ 217.7...

If we close our daily candle below 210.8, then we are going to VISIT MARKAM'S 197.00

Cheers mate




P.S. My chart is from eSignal withTDFX feed, but aslo I can see exactly the same with MT4 @ FXDD.. your chart looks litlle bit different..

According your chart NL been violated 3 times, wich is mean that H/S is not in play from area @238.00 (second circle)


http://doske.com/fx/snapshot-4.png


http://doske.com/fx/pitersHS.png
Quoting parlenk
http://www.forexfactory.com/showpost...ostcount=61996
  • #63,712
  • Feb 27, 2008 8:46am Feb 27, 2008 8:46am
this baby having a hard time to cracking 211. .. let see how she manage to break it or bounce it.IMO
  • #63,713
  • Feb 27, 2008 8:56am Feb 27, 2008 8:56am
Quoting parlenk
Here is another pic from daily..i post it before from weekly chart.IMO
Isn't something wrong about your weekly chart? I think the tail of second shoulder is missing. It should be longer than the first shoulder's tail but in your chart it appears to be shorter. Then your trend line which connects these two points appears to be wrong. It should be downward not upward ... right ?
Discipline + Patience - Fear - Greed = Success
  • #63,714
  • Feb 27, 2008 9:05am Feb 27, 2008 9:05am
Not a BIG DEAL it is only 300 pips

LOL



Quoting arezab
Isn't something wrong about your weekly chart? I think the tail of second shoulder is missing. It should be longer than the first shoulder's tail but in your chart it appears to be shorter. Then your trend line which connects these two points appears to be wrong. It should be downward not upward ... right ?
  • #63,715
  • Feb 27, 2008 9:07am Feb 27, 2008 9:07am
Hi arezab,

There are several way to setup a H&S..on this weekly chart..the necline appear to be a upward since i use the linechart on finding the right necline on both side..then after that i return to candlechart when attach it to the forum since linechart is not familiar with the ff member ( but i do use it on many setup of my PA)..about the shoulder..there is no final rule of the which one must be the highest or lower..i mean..just like trade a pinbar..some says that the close of the pinbar must be in the range of the eye..but some say no need for that, as long as the price confirm.that's in my view

Quoting arezab
Isn't something wrong about your weekly chart? I think the tail of second shoulder is missing. It should be longer than the first shoulder's tail but in your chart it appears to be shorter. Then your trend line which connects these two points appears to be wrong. It should be downward not upward ... right ?
  • #63,716
  • Feb 27, 2008 9:12am Feb 27, 2008 9:12am
Yes, but Seriuosly my friend, just check your Chart, something is wrong, it is not only 20-30 pips missing we are talking about 200-300 pips missing as inforamtion from your chart..Just keep another one for backup. (vt, MT4 or someothers).

Best Regards






Quoting parlenk
Hi arezab,

There are several way to setup a H&S..on this weekly chart..the necline appear to be a upward since i use the linechart on finding the right necline on both side..then after that i return to candlechart when attach it to the forum since linechart is not familiar with the ff member ( but i do use it on many setup of my PA)..about the shoulder..there is no final rule of the which one must be the highest or lower..i mean..just like trade a pinbar..some says that the close of the pinbar must be in the range of the eye..but some say no need for that, as long as the price confirm.that's in my view
  • #63,717
  • Feb 27, 2008 9:15am Feb 27, 2008 9:15am
Bounce???????
Attached Image
  • #63,718
  • Feb 27, 2008 9:19am Feb 27, 2008 9:19am
a Bat & a Crab on CCI, but not shown by the price

http://www.tradingrooms.com/chartpos...2008145629.png
  • #63,719
  • Feb 27, 2008 9:21am Feb 27, 2008 9:21am
it's not missing somehow..it just when you put a line on meta from the highest candle to the necline, the line (redline is not printed on the candle-foregroundchart) then i edit with the paint.exe and erase the redline above the candle to make it clear of the projection point..and yeah maybe the target should be 203.xx-204.xx on that case..but again..on a big pattern and move like that..it just a noise.therefore i said in my opinion it's already fullfill.. but if you think we still on that setup..that's fine tho.Cheers
  • #63,720
  • Feb 27, 2008 9:22am Feb 27, 2008 9:22am
Quoting naatha
a Bat & a Crab on CCI, but not shown by the price

http://www.tradingrooms.com/chartpos...2008145629.png
huh? lol
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