i have one short now 204.08
i want to bed
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #73,722
- Apr 17, 2008 4:35pm Apr 17, 2008 4:35pm
GBP/JPY fell from 213.50 (27 Feb high) to reach 192.52 on 17 Mar. A reversal structure developed and 205.10 was seen on 04 Apr ahead of a pullback to 198.10 on 10/14 Apr. Yesterday's breakout of descending triangle resistance near 200.00 has bulls re-focused on 205.10. Sustained clearance targets 207.95 (07/12 Mar highs). Only back below 200.95 (Mon's hi) sours recovery.
Just an info and not a reco!
Just an info and not a reco!
- #73,723
- Apr 17, 2008 4:37pm Apr 17, 2008 4:37pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
what would be significant is if price closed above the daily 55/50 EMA, go back and look at the last time price closed above it and see what happened. If this happens then I see price testing 205.40 area - a break and close above this resistance turned support and I will be a buyer on a pullback or a re-test of support for a long up to 209 area 1st target. . .
Just my two cents. . .
Q ... I am on the same thought waves you are.
I have a line drawn all way up to 210 . It will depend if we can break the 50 sma over the next couple of days.
Also from the 8 hour chart below 205 is a critical level. If we break this then the chances of going to 210 are fairly high.
I am using the middle of the smaller linear regresion channel as my pivot for now , as long as we stay above this swing trades should only be long.
Blogging daily now at www.volume.zone
- #73,725
- Apr 17, 2008 4:59pm Apr 17, 2008 4:59pm
Closed my shorts... with 15 - 20 pips profit... Left one with tight TS!!! Something big is brewing up and I don't like to be exposed!
The price just went below 204
- #73,726
- Apr 17, 2008 4:59pm Apr 17, 2008 4:59pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Q ... I am on the same thought waves you are.
I have a line drawn all way up to 210 . It will depend if we can break the 50 sma over the next couple of days.
Also from the 8 hour chart below 205 is a critical level. If we break this then the chances of going to 210 are fairly high.
I am using the middle of the smaller linear regresion channel as my pivot for now , as long as we stay above this swing trades should only be long.
Attachment
To me 203.40/45 area will be key in my mind which was resistance and should provide some support. . .
A break of this support would cause for a re-evaluation of this thought process. . .
Good luck in your trading bro and keep the good analysis coming, this thread needs evaluation like yours. . .
Cheers -
- #73,727
- Apr 17, 2008 5:01pm Apr 17, 2008 5:01pm
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #73,728
- Apr 17, 2008 5:04pm Apr 17, 2008 5:04pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Well done. Jarroo, you had same target if I remember correct ? Based on PA ?
Yellow area is the Weekly Inside Bar.
Green is the beautiful Daily IB and the Purple is the 4 hour IB.
Indicators show the past. Price Action "Indicates" the future.
- #73,729
- Apr 17, 2008 5:08pm Apr 17, 2008 5:08pm
Yes, I do. Funny how things match up sometimes.
Yellow area is the Weekly Inside Bar.
Green is the beautiful Daily IB and the Purple is the 4 hour IB.
Craazy 
- #73,730
- Apr 17, 2008 5:09pm Apr 17, 2008 5:09pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Here is what I looking at, price looks like it has room to move up further looking at mom,ZLS and ZL MACD.
To me 203.40/45 area will be key in my mind which was resistance and should provide some support. . .
A break of this support would cause for a re-evaluation of this thought process. . .
Good luck in your trading bro and keep the good analysis coming, this thread needs evaluation like yours. . .
Cheers -
Cheers =
- #73,731
- Apr 17, 2008 5:16pm Apr 17, 2008 5:16pm
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Yes, I do. Funny how things match up sometimes.
Yellow area is the Weekly Inside Bar.
Green is the beautiful Daily IB and the Purple is the 4 hour IB.
Measure twice, cut once
- #73,732
- Apr 17, 2008 5:18pm Apr 17, 2008 5:18pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #73,733
- Apr 17, 2008 5:23pm Apr 17, 2008 5:23pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
No, I'm not planning to go short now. I will wait for Price Action to show me to go short. I have taken profits off some of my positions from my entries of 200.29 and 200.75. I've locked in the remaining positions at 201.95.
Actually I may add to my long position if price breaks that Weekly IB at 204.42, hard. As you know, Price does not move in a straight line. So we may have a retrace soon.
seems that retrace is about to start, the question is to what level
- #73,734
- Apr 17, 2008 5:24pm Apr 17, 2008 5:24pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
seems that retrace is about to start, the question is to what level
Indicators show the past. Price Action "Indicates" the future.
- #73,735
- Apr 17, 2008 5:28pm Apr 17, 2008 5:28pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #73,736
- Apr 17, 2008 5:31pm Apr 17, 2008 5:31pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #73,737
- Apr 17, 2008 5:34pm Apr 17, 2008 5:34pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
seems that retrace is about to start, the question is to what level
Does anyone else see the same as me??
I may be wrong...Everyones advice would be more than welcome 
Shakes
- #73,738
- Edited 6:18pm Apr 17, 2008 5:43pm | Edited 6:18pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #73,739
- Apr 17, 2008 5:55pm Apr 17, 2008 5:55pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
If Prce Action shows some short action, here are possible retrace targets.
I like the 50 fib of 201.38. (thanks Karmo).
I like the 50 fib too (and below)...I hope this plays out in our favour
- #73,740
- Apr 17, 2008 6:03pm Apr 17, 2008 6:03pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
If Prce Action shows some short action, here are possible retrace targets.
I like the 50 fib of 201.38. (thanks Karmo).
Nothing goes up for ever and in my trading zone (4:30 am to 8:30 am pst ) i take both short and long side of the markets as the price ebbs and flows. I have triggers and if they are filled then i take them . My fav time frame to trade off in the mornings is the 3 min and 5 min charts, I made some pips both long and short this morning.
the 15 min chart right now shows the 10 sma crossing down thru the 20 sma , givng a bearish cross down , however we are still above the 50 sma. I would not even be going short on a smaller time frame right now as support is close at 203.5 (50 sma on 15 min) and i have a long trigger on the 5 min
The 30 min has a 10 / 20 / 50 sma bull stack still. Swing traders should not consider sell orders till at least the 10 sma crosses down over the 20 sma on a 30 min charts, i gave this info out last night , and if studies would have kept a lot of traders in this forum from going short as the last time the 10 sma was below the 20 sma on the 30 min was 32 hours ago.
Using my entry system on a 5 min I have a long entry at 204.20 right now and the 26,12,9 macd is starting to turn up.
Blogging daily now at www.volume.zone