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

  • #72,321
  • Apr 8, 2008 8:36am Apr 8, 2008 8:36am
Quoting DutchTrader
I agree that we should see a bounce, but don't forget about the Dow, and I am flat right now. No position just seeing whether we can get above the PP
Good approach!
I will post a chart shortly what I'm seeing. . .
  • #72,322
  • Apr 8, 2008 8:37am Apr 8, 2008 8:37am
news at 10 should mix up the bag good for us
  • #72,323
  • Apr 8, 2008 8:40am Apr 8, 2008 8:40am
GJ having trouble getting past 100ema on 4h. My 4h chart suggests downmove is not over so I wont be taking a long. I agree it may go up some first but I wont risk it. My charts say bear so I wont fight it. I am currently flat.


Bless
Patience + Discipline - Greed = Success
  • #72,324
  • Apr 8, 2008 8:42am Apr 8, 2008 8:42am
Quoting Kezman
Pls what is the best s/p that i can use for mini account i have only $100 in my account pls help with this.
A very good place to start is babypips.com. Read till your eyes burn.

Bless
Patience + Discipline - Greed = Success
  • #72,325
  • Apr 8, 2008 8:42am Apr 8, 2008 8:42am
already had a false break out of the box long which was rejected
  • #72,326
  • Apr 8, 2008 8:46am Apr 8, 2008 8:46am
Quoting DutchTrader
I agree that we should see a bounce, but don't forget about the Dow, and I am flat right now. No position just seeing whether we can get above the PP

short queeze triggered YM .... dj emini futures

bought off 12530
major support

we break this we going down to s2
Blogging daily now at www.volume.zone
  • #72,327
  • Apr 8, 2008 8:46am Apr 8, 2008 8:46am
Quoting hcruces
IMO, Based on price action we have a shooting star and Doji on the 30min, and a few on the 1hr. Its also at the bottom of the 1hr downtrend channel. So i think we should be going up atleast to the 202.xx area.
jep, jep if i get signal i'll go up
... waiting next 1h candel
  • #72,328
  • Apr 8, 2008 8:50am Apr 8, 2008 8:50am
Quoting Infinity
GJ having trouble getting past 100ema on 4h. My 4h chart suggests downmove is not over so I wont be taking a long. I agree it may go up some first but I wont risk it. My charts say bear so I wont fight it. I am currently flat.


Bless
Good approach bro =

My reasoning is - price is sitting the exact same place it was on sunday which it bounced some odd 400 pips. . . If GJ is truly in a down trend and a top is in place then it should at least go back up and test resistanec above (daily pivot). . . A rejection from there should send it welll on it way to new lows. . .

Also, price is sitting at the 38.2% retrace from the up move started @ 195.06 so I won't be convince that it is truly in a down trend until it bounce off a support turned resistance area and get's rejected hard. . .

JMHO and just sharing my view. . .
  • #72,329
  • Apr 8, 2008 8:54am Apr 8, 2008 8:54am
Quoting quecee5
Looking at the daily it looks like 200.80 area is the next target but price could go back to test intraday pivot and daily resistance at 202.20/40 area 1st.

A failure up there would be a good shorting opportunity but if it breaks to the upside then price could go back and challenge 203 area which is the daily pivot. . .

I'm going to enter long shortly if price keeps bouncing off the daily support @ 201.40 to ride a short-term long up. . .
But trade what u see!
Morning Q,

  • #72,330
  • Apr 8, 2008 8:55am Apr 8, 2008 8:55am
Quoting quecee5
Good approach bro =

My reasoning is - price is sitting the exact same place it was on sunday which it bounced some odd 400 pips. . . If GJ is truly in a down trend and a top is in place then it should at least go back up and test resistanec above (daily pivot). . . A rejection from there should send it welll on it way to new lows. . .

Also, price is sitting at the 38.2% retrace from the up move started @ 195.06 so I won't be convince that it is truly in a down trend until it bounce off a support turned resistance area and get's rejected hard. . .

JMHO and just sharing my view. . .
I see your reasoning. Good work as usual.
Patience + Discipline - Greed = Success
  • #72,331
  • Apr 8, 2008 8:56am Apr 8, 2008 8:56am
Quoting pkimnyc
Morning Q,

Morning bro =
  • #72,332
  • Apr 8, 2008 8:57am Apr 8, 2008 8:57am
Quoting piptrain
news at 10 should mix up the bag good for us
Seriously. I'm sure Housing improved MARKEDLY!!
Patience + Humility + Study = Success
  • #72,333
  • Apr 8, 2008 9:04am Apr 8, 2008 9:04am
Quoting DutchTrader
Seriously. I'm sure Housing improved MARKEDLY!!
Data not as bad as expected apparently, market reaction pretty limited at this point but that may change. . .
  • #72,334
  • Apr 8, 2008 9:08am Apr 8, 2008 9:08am
Quoting quecee5
Data not as bad as expected apparently, market reaction pretty limited at this point but that may change. . .
-1.9%. Twice as bad as expected.
  • #72,335
  • Apr 8, 2008 9:11am Apr 8, 2008 9:11am
Keep an eye on the dow. It is testing support at 12525. The daily looks very bearish
Patience + Discipline - Greed = Success
  • #72,336
  • Apr 8, 2008 9:21am Apr 8, 2008 9:21am
Quoting quecee5
price is sitting the exact same place it was on sunday which it bounced some odd 400 pips. . . If GJ is truly in a down trend and a top is in place then it should at least go back up and test resistanec above (daily pivot). . . A rejection from there should send it welll on it way to new lows. . .
I think we are still stuck in 4th wave range if we get a bounce from 201.4. I can't post a chart right now to explain what I saw over the weekend, but I'll post a chart tonight when I get home.
  • #72,337
  • Apr 8, 2008 9:24am Apr 8, 2008 9:24am
Quoting pkimnyc
I think we are still stuck in 4th wave range if we get a bounce from 201.4. I can't post a chart right now to explain what I saw over the weekend, but I'll post a chart tonight when I get home.

Thxs bro. . .
I still think we will go up a bit according to my charts but it should be limited at best. . . JMHO!
  • #72,338
  • Apr 8, 2008 9:28am Apr 8, 2008 9:28am
Q,

202.26 looks to be the cap for any rallies on my 1hr chart
Patience + Humility + Study = Success
  • #72,339
  • Apr 8, 2008 9:29am Apr 8, 2008 9:29am
I agree. Specially after holding at the bottom... Im still short term long to 38% to 50% Fibs from the previous fall. 202.20-202.50
  • #72,340
  • Apr 8, 2008 9:33am Apr 8, 2008 9:33am
Quoting DutchTrader
Q,

202.26 looks to be the cap for any rallies on my 1hr chart
Seeing the same thing. . .
Take a look at gann hi/lo on 15min and 1hr, both showing gann resistance there. . . I'm looking to book profit there ar'd that area. .

Here is a chart for you!
Attached Image (click to enlarge)
Click to Enlarge Name: multiple chart.gif Size: 65 KB
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