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

  • #63,781
  • Feb 27, 2008 6:20pm Feb 27, 2008 6:20pm
Quoting malcolmb14
Think 2000 pips ... DOWN

This bear got on the bull wagon for one day only. Look back in Feb of last year .. will history repeat itself ??? The next 2 days will tell ..we could be at 190 next week.

I see it in MACD , RSI... even just in the daily price bars themselves there is a lot more selling pressure than buying.

There is bearish hidden divergence in RSI14 on the daily ... price formed a lower high and rsi14 formed a higher high.
I have to agree malcomb14. 4 times now this pair has hit a wall at 214.00 since the end of January. I remember last year at this time I rode this sucker all the way down for a week. What a ride! I would not be looking long unless there is a convincing break of 214. Just my 2 cents.
  • #63,782
  • Feb 27, 2008 6:47pm Feb 27, 2008 6:47pm
Pls wake me when its at 190
  • #63,783
  • Feb 27, 2008 6:47pm Feb 27, 2008 6:47pm
What we don't know is How many attempts will it take to break support with confirmation.
  • #63,784
  • Feb 27, 2008 6:57pm Feb 27, 2008 6:57pm
Quoting webstakes
Pls wake me when its at 190
Well webstakes, we were at 230 in December, now 211, so who knows?
  • #63,785
  • Feb 27, 2008 7:16pm Feb 27, 2008 7:16pm
Weekly Geppy shows a rejection of the red 200 sma and the weekly 5 sma high. A test of the 5 sma low is possbile now if support breaks.
My 1st downside target is the 5 sma area around 210.30/60.
A break targets my 250 sma at 209.05.
then 5 sma low at 208.13 or so.
205.69 is my 300 sma target if support breaks above.

If there is more upside, then I target my monthly 5 sma low at 216.66.
1st upside target would be 212.
Attached Image (click to enlarge)
Click to Enlarge Name: weekly geppy4.gif Size: 28 KB
  • #63,786
  • Feb 27, 2008 7:26pm Feb 27, 2008 7:26pm
200sma on the weekly, is also the 23.6 fib retracement of the last move down.

With a break of that area, 218.78 would be the 50.0 fib
  • #63,787
  • Feb 27, 2008 7:34pm Feb 27, 2008 7:34pm
Just a very simple observation

There was a lot of talk and excitement about an inside bar forming last week.

Here is the weekly. The consolidation zone Nov /Dec finished on an inside bar , and had higher lows, before a 2000 pip week.

We have THE EXACT same pattern now. Week six in this pattern was last week ....

Just an observation

Attached Image (click to enlarge)
Click to Enlarge Name: Chart1.JPG Size: 142 KB
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  • #63,788
  • Feb 27, 2008 8:02pm Feb 27, 2008 8:02pm
Yes Malcom, I have been watching this same scenero for awhile. Funny someone has not meationed it before. Maybe tonight or next week we will get a break out and make some serious pips


Quoting malcolmb14
Just a very simple observation

There was a lot of talk and excitement about an inside bar forming last week.

Here is the weekly. The consolidation zone Nov /Dec finished on an inside bar , and had higher lows, before a 2000 pip week.

We have THE EXACT same pattern now. Week six in this pattern was last week ....

Just an observation

Attachment
  • #63,789
  • Feb 27, 2008 8:43pm Feb 27, 2008 8:43pm
Quoting malcolmb14
Just a very simple observation

There was a lot of talk and excitement about an inside bar forming last week.

Here is the weekly. The consolidation zone Nov /Dec finished on an inside bar , and had higher lows, before a 2000 pip week.

We have THE EXACT same pattern now. Week six in this pattern was last week ....

Just an observation
Interesting observation
  • #63,790
  • Feb 27, 2008 8:48pm Feb 27, 2008 8:48pm
Below 212, i am selling into rallies for now.
  • #63,791
  • Edited 9:17pm Feb 27, 2008 9:14pm | Edited 9:17pm
Quoting malcolmb14
Just a very simple observation

There was a lot of talk and excitement about an inside bar forming last week.

Here is the weekly. The consolidation zone Nov /Dec finished on an inside bar , and had higher lows, before a 2000 pip week.

We have THE EXACT same pattern now. Week six in this pattern was last week ....

Just an observation
On further analysis, there is a seemingly important distinction. At the point of the weekly drop off previously the 10 period momentum was up and the 14 was down. This indicated an eventual collapse to the 5-sma low, as represented by the downward 14 period momentum.

In our current situation all the weekly momentums are up. The fall could happen, but I dont think that fall will happen just yet, well it shouldn't happen this week.

The lowest I expect prices to possible fall this week is to the 208 region, at the weekly -5 sma low. It may very well rally at the weekly -5-sma close, about 210.30 region.

The chart below shows the momentums, the 2 indicators at the bottom show what the 10 period and 14 period momentums were at the start of the week (represented by the white line) as against the end of the week, represented by the blue line.
Attached Image (click to enlarge)
Click to Enlarge Name: weekly-gbpyen.gif Size: 18 KB
  • #63,792
  • Feb 27, 2008 9:20pm Feb 27, 2008 9:20pm
Quoting malcolmb14
Just a very simple observation

There was a lot of talk and excitement about an inside bar forming last week.

Here is the weekly. The consolidation zone Nov /Dec finished on an inside bar , and had higher lows, before a 2000 pip week.

We have THE EXACT same pattern now. Week six in this pattern was last week ....

Just an observation

Attachment
Inside Bars on the Weekly can be very powerful, whether to the upside or to the downside. Not "just an observation" but an excellent statement.
Indicators show the past. Price Action "Indicates" the future.
  • #63,793
  • Feb 27, 2008 10:57pm Feb 27, 2008 10:57pm
Hey can anyone out there piont me in the right direction. I am curious if anyone can tell me the best broker to us for unlimited VT trader Demo ??
Don't get me wrong I full on mt4$ but I want to check out the QQE and Gann HiLo Vt trader has. Any recomondations will be appreciated thanks. Oh, GJ looks to be taking off !

"Where Feedback Flows Intelligence Grows"

-Pipimint
Enjoy it while it lasts, then pay for it. Be Grateful.
  • #63,794
  • Feb 27, 2008 10:58pm Feb 27, 2008 10:58pm
I like this Price Action (small Pin Bar) at S/R Level and Trendline. I'm long at 211.03.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #63,795
  • Feb 27, 2008 11:18pm Feb 27, 2008 11:18pm
Quoting jarroo
I like this Price Action (small Pin Bar) at S/R Level and Trendline. I'm long at 211.03.
I think 212 is a good target for this long ... what do you think Jarroo?
Discipline + Patience - Fear - Greed = Success
  • #63,796
  • Feb 27, 2008 11:23pm Feb 27, 2008 11:23pm
Quoting malcolmb14
Just a very simple observation

There was a lot of talk and excitement about an inside bar forming last week.

Here is the weekly. The consolidation zone Nov /Dec finished on an inside bar , and had higher lows, before a 2000 pip week.

We have THE EXACT same pattern now. Week six in this pattern was last week ....

Just an observation

Attachment
Or are you saying "where was all the excitement back then?".

I don't know. My bad. My head must have been in my a*. . . . in the sand.
Indicators show the past. Price Action "Indicates" the future.
  • #63,797
  • Feb 27, 2008 11:25pm Feb 27, 2008 11:25pm
Quoting arezab
I think 212 is a good target for this long ... what do you think Jarroo?
Yes, 212.00 looks good after a nice break of the 211.48 level.
Indicators show the past. Price Action "Indicates" the future.
  • #63,798
  • Feb 27, 2008 11:27pm Feb 27, 2008 11:27pm
Quoting jarroo
I like this Price Action (small Pin Bar) at S/R Level and Trendline. I'm long at 211.03.
Based on your chart, is your target 211.94?
  • #63,799
  • Edited 11:52pm Feb 27, 2008 11:27pm | Edited 11:52pm
Quoting GodfreyH
Based on your chart, is your target 211.94?
Never mind, 212= 50% fib
  • #63,800
  • Feb 27, 2008 11:29pm Feb 27, 2008 11:29pm
Quoting GodfreyH
Never mind
Yeash, that's just a S/R level.
Indicators show the past. Price Action "Indicates" the future.
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