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

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

#73,361
Apr 16, 2008 5:34am Apr 16, 2008 5:34am

Wolf.
| Joined Oct 2006 | Status: Trader | 531 Posts

Quoting aediaz1

Disliked

I see. And you where right, price is above 4h TL too so this starts to reveal good opportunities to the north. Even though G/J is bearish, it will give opportunities both ways Whats levels are you targeting ? I only have 202 area which is TL on daily followed by Jarroo's IB resistance which seems logical to me.

Ignored

HI Aediaz,

Well I was right for a while

, (got my first TP anyway) I had 200.5 WP -200.8 as strong resistance and shorts may be in favor now as we are below the DP.

Need to break this area here as it is still a strong support for shorts in my view.

My target areas for longs are shown on the attached chart.

Attached Image (click to enlarge)

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#73,362
Apr 16, 2008 5:57am Apr 16, 2008 5:57am

smart_algo
| Joined Mar 2008 | Status: Trader | 26 Posts

my immortal

#73,363
Apr 16, 2008 6:17am Apr 16, 2008 6:17am

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

Quoting smart_algo

Disliked

hi

Ignored

hello

Trade what you see, not what you think.

#73,364
Apr 16, 2008 6:28am Apr 16, 2008 6:28am

maheswara
| Joined Aug 2007 | Status: Senior Member | 1,798 Posts

the pair is swinging hard today huh ... barely managed to breakeven ...

To Live is the rarest thing in the world , Most people exist , that is all

#73,365
Apr 16, 2008 6:29am Apr 16, 2008 6:29am

aediaz1
Joined Aug 2007 | Status: Trader | 3,135 Posts

Quoting Wolf.

Disliked

HI Aediaz,

Well I was right for a while , (got my first TP anyway) I had 200.5 WP -200.8 as strong resistance and shorts may be in favor now as we are below the DP.

Need to break this area here as it is still a strong support for shorts in my view.

My target areas for longs are shown on the attached chart.

Ignored

Looks like 199.50 was strong support for now (daily and weekly pivot).

I have no idea where this is heading, but I'll play along if we peak outside ascending triangle. US news in 1 hour, maybe we will get a clearer picture after.

Measure twice, cut once

#73,366
Apr 16, 2008 6:36am Apr 16, 2008 6:36am

warta
Joined Jan 2008 | Status: Only God Can Judge Me | 2,467 Posts

hello guys

wb karmo we really missed u and congras ur new life

#73,367
Apr 16, 2008 6:39am Apr 16, 2008 6:39am

DutchTrader
| Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts

GU is eyeng the 100 ma at 1.9875, but first 1.9810

Patience + Humility + Study = Success

#73,368
Apr 16, 2008 6:55am Apr 16, 2008 6:55am

malcolmb14
Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts

That down trend is breaking on the 2 hour. It seems that a trend reversal is happening. See how the 2 hour candles are trying to break the 50 sma ( pink line) , the 10 and 20 sma are bunching , the gann fann is trying to be broken .

CPI this morning should give some direction. Markets seem very positive right now on good earnings across the board.

Just a note for you swing traders If we break 200.8 i see 201.5 as 1st target , but more likely 202.4

Attached Image (click to enlarge)

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Blogging daily now at www.volume.zone

#73,369
Apr 16, 2008 7:00am Apr 16, 2008 7:00am

quecee5
Joined Oct 2007 | Status: Trader | 5,510 Posts

Quoting ife

Disliked

Thanx bro..patience did really work out..thanx to u...

Ignored

No problem bro, glad u gett'n those green pips! =

#73,370
Apr 16, 2008 7:01am Apr 16, 2008 7:01am

quecee5
Joined Oct 2007 | Status: Trader | 5,510 Posts

Quoting DutchTrader

Disliked

GU is eyeng the 100 ma at 1.9875, but first 1.9810

Ignored

So I see u looked at the chart again =

#73,371
Apr 16, 2008 7:02am Apr 16, 2008 7:02am

DutchTrader
| Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts

Quoting quecee5

Disliked

So I see u looked at the chart again =

Ignored

yeah with a fresh perspective

Patience + Humility + Study = Success

#73,372
Apr 16, 2008 7:07am Apr 16, 2008 7:07am

quecee5
Joined Oct 2007 | Status: Trader | 5,510 Posts

Quoting PandoraBox

Disliked

From the EW. I'm just waiting for long. Just trust your chart.

Ignored

Not sure this count is correct - GJ is still in wave 4 of 5 waves from the fall started @ 250 area. . . Will post a chart shortly, wave 5 of 5 should end well below the last low. . .

#73,373
Apr 16, 2008 9:16am Apr 16, 2008 9:16am

venci
| Joined Jul 2007 | Status: Are you trying to win? | 232 Posts

Quoting naatha

Disliked

futures
---------
ScreenShooter prog 40Kb
1. snapshoot
2. select region
3. choose clipboard or a file for saving
4. choose bmp, jpg, gif or png-format
--------
GJ1h

Ignored

Naatha , I like thoose indicators you have, mind to share? Macd and cross.. not all

#73,374
Apr 16, 2008 9:19am Apr 16, 2008 9:19am

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

I miss shahroodi's 6hr/12hr momentum analysis

Trade what you see, not what you think.

#73,375
Apr 16, 2008 9:21am Apr 16, 2008 9:21am

jarroo
Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts

Quoting aediaz1

Disliked

Nice1 By the way, look how different my 4h chart is compared to yours. If I would have played by PA on my chart, my position would have been short, right ?

Double top @ 200.75. Price is started to form ascending triangle on 1h and 4h;

Ignored

Data feeds are different from broker times and so on. But, alll in all Price Action will play out, no matter the broker.

Taking the short on your IB would be the right play. The next part is to look at Price behavior at that level. Is Price stalling and/or stopping? Is it wobbling or moving slowing? Or is Price doing what we should be looking for . . moving Fast and Hard before and through that level.

When I took the 199.94 long trade at the top of the 4 hour IB (my chart), Price initially was moving slowly and retraced a bit. Price then ran up approached the level, broke through and continued to run up. Price was not moving that hard, but hard enough for me to take the trade with a tight stop loss.

Jim

Indicators show the past. Price Action "Indicates" the future.