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

  • #64,021
  • Feb 28, 2008 6:58pm Feb 28, 2008 6:58pm
Quoting karmostaji
they work 99% , 100%? Ok I'll leave you in Disneyland my friend
The writing was on the wall for this drop . It was a simple trade.

As I said before bear divergences work well on single time frames .. multiple time frames they work 100% of the time. The original posting was based on divergence on a 15 , 20 ,30 , 60 , 2 hour 4 hour and was at 212. Since then we have developed divergence on the daily.

We went another 150 pips up and then bam.

4 hour
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Daily
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  • #64,022
  • Feb 28, 2008 7:00pm Feb 28, 2008 7:00pm
what i see


good luck all

as always trade what YOU see and YOUR plan

i could be wrong!

if i am right its time to trade the triangle again as consolidation will be forthcoming..... IMTWO
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  • #64,023
  • Feb 28, 2008 7:01pm Feb 28, 2008 7:01pm
Quoting malcolmb14
2000 pips is not 205... the high was 213 .... 2000 pips is 193.

I honestly think this is history repeating itself from last Nov / Dec
yes, in fact I would say 175 ... but I think we go step by step. First we have to break down 207 then 204.50. I think the later is not an easy support to be breached, at least not so soon.
Discipline + Patience - Fear - Greed = Success
  • #64,024
  • Feb 28, 2008 7:02pm Feb 28, 2008 7:02pm
GJ1d - CCI Crab may be, just a guess
http://www.tradingrooms.com/chartpos...2292008114.png
  • #64,025
  • Feb 28, 2008 7:03pm Feb 28, 2008 7:03pm
Quoting arezab
207.10 = buy area (where bullish gartley completes it's D point)
Be very careful on longs

I am a dow futures trader also . dj futures traidng at 12509 , this is a break of the three day pivot at 12555. We are going to see a 1 to 2% down day on the dj-30 tomorrow.

Nikkei -400

Hang Seng will likely be -600 to -800.

Liekly ftse100 will not go up and take the gbpjpy with it .. why would it ?

At this point in time I am not even day trading long positions for scalps.
Blogging daily now at www.volume.zone
  • #64,026
  • Feb 28, 2008 7:10pm Feb 28, 2008 7:10pm
Quoting malcolmb14
Be very careful on longs

I am a dow futures trader also . dj futures traidng at 12509 , this is a break of the three day pivot at 12555. We are going to see a 1 to 2% down day on the dj-30 tomorrow.

Nikkei -400

Hang Seng will likely be -600 to -800.

Liekly ftse100 will not go up and take the gbpjpy with it .. why would it ?

At this point in time I am not even day trading long positions for scalps.

well the way i see it we will break this support level or bounce off of it

bounce is likely but.... u never know..... the next support down is major as well as arezieb points out.... so we will have to wait and see...my shorts are closed is all i'm saying.... and u could take a low risk long here IF and WHEN PA gives signal with extremely tight stop (50 to 100 pips lets say) and if u were agressive trader and you would have a very good risk reward..... if u wait for PA to confirm is even better....but again just a huimble opinion
  • #64,027
  • Feb 28, 2008 7:13pm Feb 28, 2008 7:13pm
Quoting malcolmb14
I just had another look at the FE's on that 1-2-3 sell formation on 2 hour chart ... ultimate targets 205.37 , but likely 200 zone....err here is the kicker

NEXT WEEK.

The last consolidation zone was 6 weeks long before a 1000 pips drop in a week. Today marks the end of week 6.

dj-30 broke bottom of bear flag today and will likely test 11628 next week.
One more day for this prediction to work out. 205.5 here we come.

I was wrong on dj-30 ,which is even m,ore worrying as there has been divergence between dj and gbpjpy this week .. .tomorrow they will be heading in the same direction ... DOWN
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  • #64,028
  • Feb 28, 2008 7:13pm Feb 28, 2008 7:13pm
Quoting malcolmb14
Be very careful on longs

I am a dow futures trader also . dj futures traidng at 12509 , this is a break of the three day pivot at 12555. We are going to see a 1 to 2% down day on the dj-30 tomorrow.

Nikkei -400

Hang Seng will likely be -600 to -800.

Liekly ftse100 will not go up and take the gbpjpy with it .. why would it ?

At this point in time I am not even day trading long positions for scalps.
Ok, thanks bro. BTW I like your divergence style. I play them too. They are part of my strategy and working great. Though still learning form you ...
Discipline + Patience - Fear - Greed = Success
  • #64,029
  • Feb 28, 2008 7:16pm Feb 28, 2008 7:16pm
Last time this level generated a retrace for 400+ pips and 150+ pips, may be this time is not any different?
  • #64,030
  • Feb 28, 2008 7:18pm Feb 28, 2008 7:18pm
Hidden bullish divergence on 2 hour and 4 hour hour chart.

Not to say it will not push down some more yet before the bounce.

RSI getting in to overbought area on multiple time frames.

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  • #64,031
  • Feb 28, 2008 7:18pm Feb 28, 2008 7:18pm
... so tired. gotta go to bed now. I've been in front of screen for almost 22 hours ... see you tomorrow ...
Discipline + Patience - Fear - Greed = Success
  • #64,032
  • Feb 28, 2008 7:26pm Feb 28, 2008 7:26pm
Does this look familiar ??

It is the exact same pattern we have playing out now .. .from the 3 hour back in Jan before the big drop.

We had a 500 pips drop in hours , much like now, a little retracement overnight , BTW it was only 150 pips ( that would be the one that all of you are looking for) .Then another 500 pips drop ( that would be tomorrow / Monday)


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  • #64,033
  • Feb 28, 2008 7:28pm Feb 28, 2008 7:28pm
Quoting karmostaji
I saw momentum turning upwards, so I took my 800 pips and ran away lol, I'm not a greedy person

I've loaded longs from here which IMO is the bottom for now.

Good luck ya'll
We are not going to see even a temporary bottom until we get a major fall in the stock markets. We will see sub 200 and 11,000-11,500 in the dow before there is some stabilization.

Of course, if the fundamentals keep going downhill, we may hit my 175 goal by the end of March.
  • #64,034
  • Feb 28, 2008 7:29pm Feb 28, 2008 7:29pm
Closed my final day trade position off 209.75 at 208.10.

That was a 325 pip day.

Awesome thing about trading a 5 min chart is you never really know what you are going to get .. could be 5 pips ... could be 200.

Good trading to all.
Blogging daily now at www.volume.zone
  • #64,035
  • Feb 28, 2008 7:33pm Feb 28, 2008 7:33pm
Quoting markam
I thought I would replay my message from 6 months ago. Gold is up about 40% since then, so I hope everyone took my advice.
Gold is up another 15% or so since I posted this at the beginning of January. I hope everyone took my advice the second time. It is not too late. We should see $2,000-$3,000/ounce before we get our new currency.
  • #64,036
  • Feb 28, 2008 7:35pm Feb 28, 2008 7:35pm
Quoting markam
We are not going to see even a temporary bottom until we get a major fall in the stock markets. We will see sub 200 and 11,000-11,500 in the dow before there is some stabilization.

Of course, if the fundamentals keep going downhill, we may hit my 175 goal by the end of March.
I like 175 call for end of March. Music to my ears !!!
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  • #64,037
  • Feb 28, 2008 7:36pm Feb 28, 2008 7:36pm
Quoting malcolmb14
I like 175 call for end of March. Music to my ears !!!
My call was actually for 175 this summer, but things seem to be going to hell at an accelerating pace.
  • #64,038
  • Feb 28, 2008 7:39pm Feb 28, 2008 7:39pm
Hi, with the following fib settings on the latest hourly move, from experience, would a 61.8 or 50% retrace be more likely (if at all of course)?

Regards, D.
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where thought goes energy flows
  • #64,039
  • Feb 28, 2008 7:42pm Feb 28, 2008 7:42pm
Quoting Damo12
Hi, with the following fib settings on the latest hourly move, from experience, would a 61.8 or 50% retrace be more likely (if at all of course)?

Regards, D.
Your Fib is upside down. 211.40 area is 61.8 from this fall down.
50.0 is 210.70

I'd love a 61.8, but 50, if this will retrace will be likely.
  • #64,040
  • Feb 28, 2008 7:44pm Feb 28, 2008 7:44pm
Quoting kujo17
Your Fib is upside down. 211.40 area is 61.8 from this fall down.
50.0 is 210.70

I'd love a 61.8, but 50, if this will retrace will be likely.
Thanks, well thats interesting now...thanks.

D.
where thought goes energy flows
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