i just took a short on GJ.
i must be drunk.
i dont know.. i felt like this .from GU
I've been drunk holding Shorts from the 198 area
It may be a while before I'm sober...However, I see a fall back to 201 ish over the next week.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #73,901
- Apr 18, 2008 8:18am Apr 18, 2008 8:18am
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
I've been drunk holding Shorts from the 198 area
It may be a while before I'm sober...However, I see a fall back to 201 ish over the next week.
- #73,902
- Apr 18, 2008 8:24am Apr 18, 2008 8:24am
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
heck, but a brave short will make u lots of money now, i want u to take a look at GU h4, tell me what u see
- #73,904
- Apr 18, 2008 8:33am Apr 18, 2008 8:33am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
What do you see now on the 4hr now?
i see a high potential of H&S formation on GU, that might drop GJ all the way down, but hey, i've been WRONG before about H&S formations....
- #73,905
- Apr 18, 2008 8:33am Apr 18, 2008 8:33am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Monthly 5 sma is around 208.90 area .. might be a good spot to short .. if it gets there
- #73,906
- Apr 18, 2008 8:41am Apr 18, 2008 8:41am
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
i see a high potential of H&S formation on GU, that might drop GJ all the way down, but hey, i've been WRONG before about H&S formations....
Ok I see it now...Lets see if it pans out next week...That would cheer me up!
- #73,907
- Apr 18, 2008 8:42am Apr 18, 2008 8:42am
Monthly 5 sma is around 208.90 area .. might be a good spot to short .. if i t gets there
GBP/JPY
GBP/JPY 18 April 2008 Price Technical Significance 213.85(M) Daily High Feb 14 211.30(M) Daily High, Feb 28 209.65(M) Daily High, Feb 29 208.90(S) 78.6% Fibo Flat AT 200.30 205.85(S) 61.8% 214.05 -192.60 203.55(M) Daily Low, Apr 18 201.90(M) Daily High Apr 11 200.55(M) Daily Low, Apr 17 Stop: /Target:
Strategy:[email protected] The price surged overnight and the dailies are now positive, but the overall trend remains lower. Looking to sell a failure below 209.00. (JK) 12:06
end
- #73,909
- Edited 9:04am Apr 18, 2008 8:54am | Edited 9:04am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
pkimnyc per your request,
Here is a 4hr chart u, I think it speaks volumes. . .
From this chart u can see various things going on, specifically how one could get into a trade at the bottom and sell at the top and vise versa. Pay close attention how the ZLS and ZL MACD bottoms/tops out.
Then notice when the 5 SMA crosses the gann hi/lo and how that correlates to the ZLS and ZL MACD. Lastly, you might want to study divergence as well. . . notice how price was steady going up and the ZL MACD was going down on that 800 pip move up, classic entry to sell current position and look to get short. . .
Also, notice how on this 1,000 pip move up how price had bottomed out close ar'd the 15 area on the ZLS. . . classic buy entry and hold. Typically on the 4hr chart once ZLS cross from the bottom the move up is good for at least 33-500 pips. But in this case I would flip to the daily to see what it is doing. If it too has crossed then this move would good for further pipage esp. if price is above daily hi/lo gann.
Also, notice on the 600 pip move down how price went back up a bit but the 5 SMA and gann hi/lo stayed apart and never crossed back up, this is an indication that further downside in forthcoming. . .
Couple this with other TA methods and you'll be trading mostly winners in no time. . . More importantly, notice that this was just 7 trades collecting 3,200 pips over 16 days. . .
This is why set-ups are so great if you have patience. I also hope this answers question by some members on this thread how one can get into a trade at the bottom and top. . .
This also shows how one does not have to sit at the computer everyday and trade. That's a clear way to gain pips and lose them right back and some esp. if you are suffering from sleep deprevation. Also, notice how naked this chart is for the most part. You can see what going on in this picture very clearly. Not to say that you won't add fibs, trend lines, etc. . . But at least get a clear picture where rice is head and WHY!
This information is free for all do what u will with it!
Hope this answers your question bro!
Here is a 4hr chart u, I think it speaks volumes. . .
From this chart u can see various things going on, specifically how one could get into a trade at the bottom and sell at the top and vise versa. Pay close attention how the ZLS and ZL MACD bottoms/tops out.
Then notice when the 5 SMA crosses the gann hi/lo and how that correlates to the ZLS and ZL MACD. Lastly, you might want to study divergence as well. . . notice how price was steady going up and the ZL MACD was going down on that 800 pip move up, classic entry to sell current position and look to get short. . .
Also, notice how on this 1,000 pip move up how price had bottomed out close ar'd the 15 area on the ZLS. . . classic buy entry and hold. Typically on the 4hr chart once ZLS cross from the bottom the move up is good for at least 33-500 pips. But in this case I would flip to the daily to see what it is doing. If it too has crossed then this move would good for further pipage esp. if price is above daily hi/lo gann.
Also, notice on the 600 pip move down how price went back up a bit but the 5 SMA and gann hi/lo stayed apart and never crossed back up, this is an indication that further downside in forthcoming. . .
Couple this with other TA methods and you'll be trading mostly winners in no time. . . More importantly, notice that this was just 7 trades collecting 3,200 pips over 16 days. . .
This is why set-ups are so great if you have patience. I also hope this answers question by some members on this thread how one can get into a trade at the bottom and top. . .
This also shows how one does not have to sit at the computer everyday and trade. That's a clear way to gain pips and lose them right back and some esp. if you are suffering from sleep deprevation. Also, notice how naked this chart is for the most part. You can see what going on in this picture very clearly. Not to say that you won't add fibs, trend lines, etc. . . But at least get a clear picture where rice is head and WHY!
This information is free for all do what u will with it!
Hope this answers your question bro!
- #73,910
- Apr 18, 2008 8:55am Apr 18, 2008 8:55am
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
So how far South will this go then? Below 198 would be nice 
If this is a head and shoulders forming on the 4hr, that head must belong to a Giraffe But I don't think it will find many leaves to eat in the branches at this height...Much better to graze from the ground below 198 for a while...
If this is a head and shoulders forming on the 4hr, that head must belong to a Giraffe
But I don't think it will find many leaves to eat in the branches at this height...Much better to graze from the ground below 198 for a while...
- #73,912
- Apr 18, 2008 9:06am Apr 18, 2008 9:06am
- Joined Apr 2007 | Status: Trader | 1,021 Posts
pkimnyc per your request,
Here is a 4hr chart u, I think it speaks volumes. . .
From this chart u can see various things going on, specifically how one could get into a trade at the bottom and sell at the top and vise versa. Pay close attention how the ZLS and ZL MACD bottoms/tops out.
Then notice when the 5 SMA crosses the gann hi/lo and how that correlates to the ZLS and ZL MACD. Lastly, you might want to study divergence as well. . . notice how price was steady going up and the ZL MACD was going down on that 800 pip move up, classic entry to sell current position and look to get short. . .
This information is free for all do what u will with it!
Thank you for this fantastic chart.I already got my weekend project!
I have a question if you don't mind.
In right side of chart when you say "NO trade in sideways" .How would you know it's gonna be side ways?
Lots of time I sit side and I say market is range but then suddenly it breaks the TL's and then it's too late too enter.
Please advise.
Again thanks for the chart.
Good Luck
Mike
Failure, is a wonderful teacher!
- #73,914
- Apr 18, 2008 9:12am Apr 18, 2008 9:12am
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
pkimnyc per your request,
Here is a 4hr chart u, I think it speaks volumes. . .
From this chart u can see various things going on, specifically how one could get into a trade at the bottom and sell at the top and vise versa. Pay close attention how the ZLS and ZL MACD bottoms/tops out.
Then notice when the 5 SMA crosses the gann hi/lo and how that correlates to the ZLS and ZL MACD. Lastly, you might want to study divergence as well. . . notice how price was steady going up and the ZL MACD was going down on that 800 pip move up, classic entry to sell current position and look to get short. . .
Also, notice how on this 1,000 pip move up how price had bottomed out close ar'd the 15 area on the ZLS. . . classic buy entry and hold. Typically on the 4hr chart once ZLS cross from the bottom the move up is good for at least 33-500 pips. But in this case I would flip to the daily to see what it is doing. If it too has crossed then this move would good for further pipage esp. if price is above daily hi/lo gann.
Also, notice on the 600 pip move down how price went back up a bit but the 5 SMA and gann hi/lo stayed apart and never crossed back up, this is an indication that further downside in forthcoming. . .
Couple this with other TA methods and you'll be trading mostly winners in no time. . . More importantly, notice that this was just 7 trades collecting 3,200 pips over 16 days. . .
This is why set-ups are so great if you have patience. I also hope this answers question by some members on this thread how one can get into a trade at the bottom and top. . .
This also shows you how you don't have to sit at the computer everyday and trade. That's a clear way to gain pips and lose them right back and some. . .
This information is free for all do what u will with it!
Your contribution to this forum is enormous. I'm still in the process of digesting your method of trading. Have improved much compare to when I just started (Most of my learning is from this place.) I still have a lot to learn and I truely appreciate your effort to help out newbs like myself.
Hopefuly, someday, I'll become as good as you are in trading and be able to help out others.
Thanks my friend and have a good weekend.
- #73,918
- Apr 18, 2008 9:57am Apr 18, 2008 9:57am
- Joined Jan 2007 | Status: Trader | 3,719 Posts
i keep showing this chart, maybe it will stop some of you to make stupid things...
for who doesn't know what it means, it screams LONG. all the way to 213. look for my previous posts in this thread...
for who doesn't know what it means, it screams LONG. all the way to 213. look for my previous posts in this thread...
Q,
Just to confirm your view ..
So you're saying it would get to 209.40 area and if today's close is below it, might be a good area to short?
Note: I already shorted @207.83 .. a bit nervous too
Nihil Sine Deo.
- #73,919
- Edited 10:32am Apr 18, 2008 10:05am | Edited 10:32am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Anybody short, what did I miss. Just kidding.
Just kidding.
Indicators show the past. Price Action "Indicates" the future.
- #73,920
- Apr 18, 2008 10:05am Apr 18, 2008 10:05am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
next week we'll have a qqe5 cross confirmation on the weekly chart
