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

  • #76,441
  • Apr 29, 2008 12:59pm Apr 29, 2008 12:59pm
Quoting quecee5


4hr chart for u. . .
I see the same on my charts. Also standard stochatics os and turning up.
I think we will be going down soon but I agree that we will see at least mid to high 205 area first.

Bless
Patience + Discipline - Greed = Success
  • #76,442
  • Apr 29, 2008 1:03pm Apr 29, 2008 1:03pm
Quoting mktjong
Q,

Are u looking at the Momemtum indicator plus one of the EMAs? I notice that 4 hr momemtum indicator oftenly less reliable than 1 hour's.
no, i'm looking at ZL MACD and ZL Stoch which shows OS. . . mom are only good at the top of the hour, meaning if your working from a 4hr chart at 4hrs, 1hr chart, then after 1hr, etc. . . Typically when u see mom pointing like this it implys that price is OS and you can expect to see a move upward soon. It may take a few hours but it will happen. . .
  • #76,443
  • Apr 29, 2008 1:04pm Apr 29, 2008 1:04pm
Quoting Infinity
I see the same on my charts. Also standard stochatics os and turning up.
I think we will be going down soon but I agree that we will see at least mid to high 205 area first.

Bless
  • #76,444
  • Apr 29, 2008 1:05pm Apr 29, 2008 1:05pm
Quoting mktjong
Q,

Are u looking at the Momemtum indicator plus one of the EMAs? I notice that 4 hr momemtum indicator oftenly less reliable than 1 hour's.
Here is a 1hr/30 min chart for u. . .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1hr chart.gif Size: 16 KB
Click to Enlarge Name: 30min chart.gif Size: 17 KB
  • #76,445
  • Apr 29, 2008 1:21pm Apr 29, 2008 1:21pm
Looks like support building at this 204.10 level...
  • #76,446
  • Apr 29, 2008 1:36pm Apr 29, 2008 1:36pm
Quoting moneymagnet
hit the 50% to the pip.
Yes my friend but this is the second drop to %50 fib, so I think this is not a true %50 fib retracement or at least not as valid as the first one which happened 6 days ago. I mean this %50 drop is most likely the first wave of a large downtrend.

IMO we may see a limited retrace but considering this 500+ pips fall and specially after that perfect double top, the uptrend is definitely finished for now.

I think it is wise to wait until 200.50 - 201 area which is the H4 major trend line. If we see a decisive bounce around that area, that can be a sign that uptrend will be resumed, if not then we will see bigger moves to the down (IMO down to 193) before any up.

just my thoughts ...

Cheers
Discipline + Patience - Fear - Greed = Success
  • #76,447
  • Apr 29, 2008 1:38pm Apr 29, 2008 1:38pm
Quoting shakesfx
Looks like support building at this 204.10 level...

Yes, now a close above 204.40/50 area would be very nice. . .
  • #76,448
  • Edited 1:50pm Apr 29, 2008 1:48pm | Edited 1:50pm
Quoting quecee5
Yes, now a close above 204.40/50 area would be very nice. . .
I don't normlly look at 5mins chart, but seeing as price is static I tought I'd zoom in...Looks like a small bull triangle forming...The 30min Zero MACD is about to cross too...Hopefully a close above 204.40/50 within the next 1hr15mins.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy 5mins.gif Size: 34 KB
  • #76,449
  • Apr 29, 2008 1:50pm Apr 29, 2008 1:50pm
Quoting shakesfx
I don't normlly look at 5mins chart, but seeing as price is static I tought I'd zoom in...Looks like a small bull triangle forming...The 30min Zero Stochs are about to cross too...Hopefully a close above 204.40/50 within the next 1hr15mins.
Yep, a close above here and 205.36 area is all but a given, 9 min before my 1hr candle close/open
  • #76,450
  • Apr 29, 2008 2:01pm Apr 29, 2008 2:01pm
Quoting quecee5
Yep, a close above here and 205.36 area is all but a given, 9 min before my 1hr candle close/open
Looks like that little 5min chart bull triangle worked...I've got 204.62 on the 1hr close...Are you goin to TP at 205.36-80 and reverse?
  • #76,451
  • Apr 29, 2008 2:02pm Apr 29, 2008 2:02pm
Quoting quecee5
Yep, a close above here and 205.36 area is all but a given, 9 min before my 1hr candle close/open
Long looking good my friend. . . price headed back toward the gann hi/lo and is trading comfortable above the 1hr 5SMA. . . If UJ gets back above 104, then this may turn out to be a very nice trade. . .

Long from 203.63. . .
  • #76,452
  • Apr 29, 2008 2:04pm Apr 29, 2008 2:04pm
Quoting shakesfx
Looks like that little 5min chart bull triangle worked...I've got 204.62 on the 1hr close...Are you goin to TP at 205.36-80 and reverse?
Not if ZL Stoch cross up, that's typically good for another 150-200 pips, if that happens then GJ might go back to test daily pivot @ 207.60 area. . .
I'll move SL up +100 and watch it from there. . .
  • #76,453
  • Apr 29, 2008 2:07pm Apr 29, 2008 2:07pm
Quoting quecee5
Not if ZL Stoch cross up, that's typically good for another 150-200 pips, if that happens then GJ might go back to test daily pivot @ 207.60 area. . .
I'll move SL up +100 and watch it from there. . .
Also, what I will be looking for is a close or a rejection @ 205.40/area. . .
A close above it will be bullish. . .
  • #76,454
  • Apr 29, 2008 2:09pm Apr 29, 2008 2:09pm
Quoting quecee5
Long looking good my friend. . . price headed back toward the gann hi/lo and is trading comfortable above the 1hr 5SMA. . . If UJ gets back above 104, then this may turn out to be a very nice trade. . .

Long from 203.63. . .
UJ looks good to me for above 104.
You got a better entry than me ...I'm long at 203.98 and TP at B/E for now... Will watch for the next 30mins to see where we're going...Might just let it run till before news tomorrow
  • #76,455
  • Apr 29, 2008 2:10pm Apr 29, 2008 2:10pm
All in at 204.72
  • #76,456
  • Apr 29, 2008 2:10pm Apr 29, 2008 2:10pm
Quoting quecee5
Also, what I will be looking for is a close or a rejection @ 205.40/area. . .
A close above it will be bullish. . .

  • #76,457
  • Apr 29, 2008 2:11pm Apr 29, 2008 2:11pm
Quoting quecee5
Also, what I will be looking for is a close or a rejection @ 205.40/area. . .
A close above it will be bullish. . .
Alright, now Dow is in positive. A starting point to confirm long on Geppy.
Let's see how it closes today.
  • #76,458
  • Apr 29, 2008 2:13pm Apr 29, 2008 2:13pm
Quoting shakesfx
UJ looks good to me for above 104.
You got a better entry than me ...I'm long at 203.98 and TP at B/E for now... Will watch for the next 30mins to see where we're going...Might just let it run till before news tomorrow
Yeah, I think UJ will hit 105 by 2morrow. . . That means GJ will be dragged up with it. Now, GU is in range mode so it can easily run up to 1.9850 with no problem, so I'm looking for a massive run-up starting later 2nite up until news is released. . . I'm going to let my trade run as well and sell before the news.
  • #76,459
  • Apr 29, 2008 2:15pm Apr 29, 2008 2:15pm
Quoting mktjong
Alright, now Dow is in positive. A starting point to confirm long on Geppy.
Let's see how it closes today.

  • #76,460
  • Apr 29, 2008 2:19pm Apr 29, 2008 2:19pm
Quoting mktjong
Alright, now Dow is in positive. A starting point to confirm long on Geppy.
Let's see how it closes today.
If UJ closes above 104 that will be a very good sign for our GJ long. . .
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