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

  • #74,761
  • Apr 23, 2008 5:19am Apr 23, 2008 5:19am
Quoting lilmoe
we might be having a double top pattern

lets wait and see...
I see that on the 4hr
Patience + Humility + Study = Success
  • #74,762
  • Apr 23, 2008 5:24am Apr 23, 2008 5:24am
u can also see that clearly on h1
Quoting DutchTrader
I see that on the 4hr
  • #74,763
  • Apr 23, 2008 5:29am Apr 23, 2008 5:29am
Quoting lilmoe
u can also see that clearly on h1
A break of 204.94 shows downside potential. 206.05 was too tough resistance.
Patience + Humility + Study = Success
  • #74,764
  • Apr 23, 2008 5:34am Apr 23, 2008 5:34am
Hmph... got stopped out earlier, this market is ranging in the shaded rectangle region. I should have known that it would be, looking on the daily momentums. They are just all over the place. 1C is down, 10C is up 14C is down.
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Attached Image
  • #74,765
  • Apr 23, 2008 5:40am Apr 23, 2008 5:40am
now it's coming well..i would wait for the price to go below 204.50 area then possible short ... happy trading
  • #74,766
  • Apr 23, 2008 5:45am Apr 23, 2008 5:45am
Quoting Srikanth
now it's coming well..i would wait for the price to go below 204.50 area then possible short ... happy trading
Yes, a solid close underneath the pivot would be a good sign for shorts, now where is my pending order toolbox...
  • #74,767
  • Apr 23, 2008 5:56am Apr 23, 2008 5:56am
Quoting Srikanth
now it's coming well..i would wait for the price to go below 204.50 area then possible short ... happy trading
Yup, 204.50 would be where I would short or 206.50 is where I would go long, (round numbers pick one, LOL!) with this current g/j back and forth ping pong action near pivots 204.80/206.37...
  • #74,768
  • Apr 23, 2008 5:58am Apr 23, 2008 5:58am
Quoting GodfreyH
Yes, a solid close underneath the pivot would be a good sign for shorts, now where is my pending order toolbox...

do you calculate your pivots? actionforex have daily at 204.98.
also when you say solid close .. do you wait for 1hr close?

thanks
  • #74,769
  • Apr 23, 2008 5:59am Apr 23, 2008 5:59am
Quoting Srikanth
now it's coming well..i would wait for the price to go below 204.50 area then possible short ... happy trading

Thanks Srikanth. How far u think GL will move down from 204.50? 100 pips?
  • #74,770
  • Apr 23, 2008 6:03am Apr 23, 2008 6:03am
Attached Image
  • #74,771
  • Apr 23, 2008 6:04am Apr 23, 2008 6:04am
Quoting lilmoe
Attachment
Perfect timing LilMoe...
  • #74,772
  • Apr 23, 2008 6:06am Apr 23, 2008 6:06am
Quoting dopod
Thanks Srikanth. How far u think GL will move down from 204.50? 100 pips?
I'll post here if i take short or long with TP..
  • #74,773
  • Apr 23, 2008 6:08am Apr 23, 2008 6:08am
Quoting lilmoe
Attachment
Patience + Humility + Study = Success
  • #74,774
  • Apr 23, 2008 6:08am Apr 23, 2008 6:08am
Quoting dopod
Thanks Srikanth. How far u think GL will move down from 204.50? 100 pips?

the chart talk alone

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  • #74,775
  • Apr 23, 2008 6:09am Apr 23, 2008 6:09am
Looks like we're back to 203.50 to me
Patience + Humility + Study = Success
  • #74,776
  • Apr 23, 2008 6:09am Apr 23, 2008 6:09am
Quoting alearner
do you calculate your pivots? actionforex have daily at 204.98.
also when you say solid close .. do you wait for 1hr close?

thanks
Different brokers have different starting times and so pivot points will differ from broker to broker. Some brokers include Sunday trading as a day and some don't . So all of this will affect the pivot point calculation.

If you need pivot point indicators, just click on the paper clip on the upper right hand side of this page, and then hit [CONTROL +F ] on your keyboard, to find the word 'PIVOT'. You can download from there.

Yes, I would like to see a 1hr bar ,not just poke through, but close below the pivot, preferable below 204.50
  • #74,777
  • Apr 23, 2008 6:17am Apr 23, 2008 6:17am
Quoting quecee5
The demand for the pair is ar'd 202.90 area later, later 2day. . .
Remember that quote from yesterday!!!!!!

Never underestimate when this man speaks.....and also never underestimate Aus's 4hr/1hr trade which developed just before the interest rate news.

Much respect to both of these traders

sw
The Will is Greater than the Skill
  • #74,778
  • Apr 23, 2008 6:20am Apr 23, 2008 6:20am
This thing is getting wild ...
Discipline + Patience - Fear - Greed = Success
  • #74,779
  • Apr 23, 2008 6:21am Apr 23, 2008 6:21am
Quoting Aad
Yup, 204.50 would be where I would short or 206.50 is where I would go long, (round numbers pick one, LOL!) with this current g/j back and forth ping pong action near pivots 204.80/206.37...

Becareful for Long...GJ daily next 12hour show potential down. From my chart M15, M30, H1, H4 and Daily ..show potential down
  • #74,780
  • Apr 23, 2008 6:23am Apr 23, 2008 6:23am
Q is a true master, I've learned a lot from him just reading his posts.
Patience + Humility + Study = Success
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