hey guys i really valued your input over the past week. hope i contributed in some way or another.hope you all had a good week. and good trading next week. seee you at the top guys!!
cheers
have a great weeked every1
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #78,041
- May 3, 2008 4:02am May 3, 2008 4:02am
have a great weeked every1
- #78,043
- Edited 1:56pm May 3, 2008 9:41am | Edited 1:56pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
Jumped off the Long rocket from 206 at 208.20, short bear dumped from 208.67 at 207.55 and now Long from this 207.55 level....
My reasons for going Long?
a.) Market didn't sell off as expected on a Friday NY close (IMOH)
b.) Daily Candles still trading above 5sma and 55sma
c.) Price Action on daily candle formation shows me more potential upside
d.) Price may gap up quickly on Sunday evening (BST) as the market was waitng to see quick fall on Friday close which didn't materialise...
e.) 15mins chart shows me QQE neutral, MACD neutral, Zero Stochs are neutral but potential to cross over 50 with bullish bias.
f.) 1HR Chart shows me QQE above 50, Z Stochs above 50, MACD neutral - bullish bias
g.)4 HR Chart shows me same as 1hr, but MACD above 0 also. Price being conjested into a breakout triangle.
h.) Daily chart shows me Slow Stochs curling up, QQE above 0 and curling up, MACD above 0, Bull candle -doji - bull candle...breakout to above 209 very possible according to this Price Action.
i.) Weekly chart is impressive with huge bullish bias...QQE Crossed, MACD crossed, Z Stochs crossed, Gann Hi Lo and 5sam crossed, 2 weeks Dojis with plenty of buyers found at 203.46...
j.) Monthly Chart shows impressive bullish bias too...
So, I have all charts lining up with Bullish bias with Price Action to confirm...
Comments welcome as I could be wrong of course. We could have a retracement back to 203.46 first, but I doubt it...I will be using dips to add more Longs...But I seriously think we will break 209 and not look back on Monday...remember Monday is a Holiday in the UK...so lack of volume may add to volatility again like I predicted last week.
Thankyou all for a humorous forum and different trading ideas, I know we all aren't right all of the time, but different ways of interpreting charts and PA has helped my trading enormously since arriving here. Many Thanks to all. Have a great weekend and I look forward to seeing where this trade goes on Monday/Tues.
Here are my charts, 15mins, 1hr, 4hr,Daily, Weekly and Monthly...maybe you can see a pattern evolving here too or I could be imagining it all...
Like I said, comments more than welcome either way bros
My reasons for going Long?
a.) Market didn't sell off as expected on a Friday NY close (IMOH)
b.) Daily Candles still trading above 5sma and 55sma
c.) Price Action on daily candle formation shows me more potential upside
d.) Price may gap up quickly on Sunday evening (BST) as the market was waitng to see quick fall on Friday close which didn't materialise...
e.) 15mins chart shows me QQE neutral, MACD neutral, Zero Stochs are neutral but potential to cross over 50 with bullish bias.
f.) 1HR Chart shows me QQE above 50, Z Stochs above 50, MACD neutral - bullish bias
g.)4 HR Chart shows me same as 1hr, but MACD above 0 also. Price being conjested into a breakout triangle.
h.) Daily chart shows me Slow Stochs curling up, QQE above 0 and curling up, MACD above 0, Bull candle -doji - bull candle...breakout to above 209 very possible according to this Price Action.
i.) Weekly chart is impressive with huge bullish bias...QQE Crossed, MACD crossed, Z Stochs crossed, Gann Hi Lo and 5sam crossed, 2 weeks Dojis with plenty of buyers found at 203.46...
j.) Monthly Chart shows impressive bullish bias too...
So, I have all charts lining up with Bullish bias with Price Action to confirm...
Comments welcome as I could be wrong of course. We could have a retracement back to 203.46 first, but I doubt it...I will be using dips to add more Longs...But I seriously think we will break 209 and not look back on Monday...remember Monday is a Holiday in the UK...so lack of volume may add to volatility again like I predicted last week.
Thankyou all for a humorous forum and different trading ideas, I know we all aren't right all of the time, but different ways of interpreting charts and PA has helped my trading enormously since arriving here. Many Thanks to all. Have a great weekend and I look forward to seeing where this trade goes on Monday/Tues.
Here are my charts, 15mins, 1hr, 4hr,Daily, Weekly and Monthly...maybe you can see a pattern evolving here too or I could be imagining it all...
Like I said, comments more than welcome either way bros
- #78,044
- Edited 3:02pm May 3, 2008 12:17pm | Edited 3:02pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Jumped off the rocket from 206 at 208.67, short dumped from 208.67 at 207.55 and now Long from this 207.55 level....
My reasons for going Long?
a.) Market didn't sell off as expected on a Friday NY close (IMOH)
b.) Daily Candles still trading above 5sma and 55sma
c.) Price Action on daily candle formation shows me more potential upside
d.) Price may gap up quickly on Sunday evening (BST) as the market was waitng to see quick fall on Friday close which didn't materialise...
e.) 15mins chart shows me QQE neutral, MACD neutral, Zero Stochs are neutral but potential to cross over 50 with bullish bias.
f.) 1HR Chart shows me QQE above 50, Z Stochs above 50, MACD neutral - bullish bias
g.)4 HR Chart shows me same as 1hr, but MACD above 0 also. Price being conjested into a breakout triangle.
h.) Daily chart shows me Slow Stochs curling up, QQE above 0 and curling up, MACD above 0, Bull candle -doji - bull candle...breakout to above 209 very possible according to this Price Action.
i.) Weekly chart is impressive with huge bullish bias...QQE Crossed, MACD crossed, Z Stochs crossed, Gann Hi Lo and 5sam crossed, 2 weeks Dojis with plenty of buyers found at 203.46...
j.) Monthly Chart shows impressive bullish bias too...
So, I have all charts lining up with Bullish bias with Price Action to confirm...
Comments welcome as I could be wrong of course. We could have a retracement back to 203.46 first, but I doubt it...I will be using dips to add more Longs...But I seriously think we will break 209 and not look back on Monday...remember Monday is a Holiday in the UK...so lack of volume may add to volatility again like I predicted last week.
Thankyou all for a humorous forum and different trading ideas, I know we all aren't right all of the time, but different ways of interpreting charts and PA has helped my trading enormously since arriving here. Many Thanks to all. Have a great weekend and I look forward to seeing where this trade goes on Monday/Tues.
Here are my charts, 15mins, 1hr, 4hr,Daily, Weekly and Monthly...maybe you can see a pattern evolving here too or I could be imagining it all...
Like I said, comments more than welcome either way bros
And notice out of all the reasons he finds to go or stay long, he still is looking foward to see where Price will go next week. Doesn't sound like he's married to that long trade, does it?
Excellent shakes,
Jim
Indicators show the past. Price Action "Indicates" the future.
- #78,045
- May 3, 2008 12:25pm May 3, 2008 12:25pm
- | Joined Mar 2008 | Status: Sniper | 1,001 Posts
Money & Pain
Respect the market, protect your capital, be patient
- #78,046
- Edited May 4, 2008 8:26am May 3, 2008 1:08pm | Edited May 4, 2008 8:26am
- Joined Jan 2007 | Status: Trader | 3,719 Posts
Nihil Sine Deo.
- #78,047
- May 3, 2008 2:30pm May 3, 2008 2:30pm
- | Membership Revoked | Joined Jun 2007 | 3,782 Posts
Jumped off the Long rocket from 206 at 208.20, short bear dumped from 208.67 at 207.55 and now Long from this 207.55 level....
My reasons for going Long?
a.) Market didn't sell off as expected on a Friday NY close (IMOH)
b.) Daily Candles still trading above 5sma and 55sma
c.) Price Action on daily candle formation shows me more potential upside
d.) Price may gap up quickly on Sunday evening (BST) as the market was waitng to see quick fall on Friday close which didn't materialise...
e.) 15mins chart shows me QQE neutral, MACD neutral, Zero Stochs are neutral but potential to cross over 50 with bullish bias.
f.) 1HR Chart shows me QQE above 50, Z Stochs above 50, MACD neutral - bullish bias
g.)4 HR Chart shows me same as 1hr, but MACD above 0 also. Price being conjested into a breakout triangle.
h.) Daily chart shows me Slow Stochs curling up, QQE above 0 and curling up, MACD above 0, Bull candle -doji - bull candle...breakout to above 209 very possible according to this Price Action.
i.) Weekly chart is impressive with huge bullish bias...QQE Crossed, MACD crossed, Z Stochs crossed, Gann Hi Lo and 5sam crossed, 2 weeks Dojis with plenty of buyers found at 203.46...
j.) Monthly Chart shows impressive bullish bias too...
So, I have all charts lining up with Bullish bias with Price Action to confirm...
Comments welcome as I could be wrong of course. We could have a retracement back to 203.46 first, but I doubt it...I will be using dips to add more Longs...But I seriously think we will break 209 and not look back on Monday...remember Monday is a Holiday in the UK...so lack of volume may add to volatility again like I predicted last week.
Thankyou all for a humorous forum and different trading ideas, I know we all aren't right all of the time, but different ways of interpreting charts and PA has helped my trading enormously since arriving here. Many Thanks to all. Have a great weekend and I look forward to seeing where this trade goes on Monday/Tues.
Here are my charts, 15mins, 1hr, 4hr,Daily, Weekly and Monthly...maybe you can see a pattern evolving here too or I could be imagining it all...
Like I said, comments more than welcome either way bros
Perfect analyses from shake fx, loved it,
I totally support you, when some traders here were considering holding shorts till 203, i smiled.
Guys the DOW and USD has miraculously shaken off every bad news for the month of april to get to 209 and above 13000 respectively. NFP of -20 though bad was very good news.
Based on my analyses i think we have reache d the bottm for a long time to come.
when price was t 209, i wanrt thinking shorts i was looking for a good reentry, i actually expected us to clear 209 after d retracement but we didnt. The DBLHC setup on d weekly is still in play, if we break to the upside, its gonna be a mighty break
i went long at 207.53/60 which coinsides with the 4hr 5sam. It never fails.
im bullish bias back to 240
- #78,048
- May 3, 2008 3:11pm May 3, 2008 3:11pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
Now here's a guy that is anaylizing charts, both long and short term, and finding reasons to take or hold on a trade.
And notice out of all the reasons he finds to go or stay long, he still is looking foward to see where Price will go next week. Doesn't sound like he's married to that long trade, does it?
Excellent shakes,
Jim
- #78,049
- May 3, 2008 3:20pm May 3, 2008 3:20pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Thanks Jim
Indicators show the past. Price Action "Indicates" the future.
- #78,050
- May 3, 2008 3:25pm May 3, 2008 3:25pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
shakes you rock
- #78,051
- May 3, 2008 3:34pm May 3, 2008 3:34pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
Perfect analyses from shake fx, loved it,
I totally support you, when some traders here were considering holding shorts till 203, i smiled.
Guys the DOW and USD has miraculously shaken off every bad news for the month of april to get to 209 and above 13000 respectively. NFP of -20 though bad was very good news.
Based on my analyses i think we have reache d the bottm for a long time to come.
when price was t 209, i wanrt thinking shorts i was looking for a good reentry, i actually expected us to clear 209 after d retracement but we didnt. The DBLHC setup on d weekly is still in play, if we break to the upside, its gonna be a mighty break
i went long at 207.53/60 which coinsides with the 4hr 5sam. It never fails.
im bullish bias back to 240
I felt that there were a hell of a lot of buyers at 207.50ish due to the way price snapped up each time it touched it on the tic chart. I agree the DOW etc has shaken off the bad news, and we are about to enter a rally...would be nice to see 250 by June/July/August which would complete the 1 year cycle on this pair. Sunday evening BST should confirm if we are right...If price snaps upwards 100pips within an hour we may be on the right track and not have to worry about a small fall back first...
- #78,052
- May 3, 2008 3:34pm May 3, 2008 3:34pm
- | Joined Mar 2008 | Status: Sniper | 1,001 Posts
Money & Pain
Respect the market, protect your capital, be patient
- #78,053
- May 3, 2008 3:49pm May 3, 2008 3:49pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
nice analysis.
just a few comments: although i agree that monthly chart looks bearish, i'm not sure about weekly. what i see right now on weekly is a hidden bearish divergence with cci around 0, which tells me that we already reached a very important resistance at 208.8 area. but i believe price can move around it a little bit...
long story short, i favor longs at this moment, but i will be very careful if/when we reach 209.8 area. daily chart screams "be careful, i'm about to drop": regular bearish divergence on Stoch, CCI, OsMA - a daily close below the daily trendline would mean SHORT. here is the chart.
i would say u-j charts are clearer on this matter.
I'll be watching 209.80 area too, to see how price reacts around this area...a breach here though and I see 213 very quickly.
- #78,054
- May 3, 2008 3:56pm May 3, 2008 3:56pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
http://www.bloomberg.com/apps/news?p...refer=currency
May 3 (Bloomberg) -- Billionaire Warren Buffett, the chief executive officer of Berkshire Hathaway Inc., said he thought the U.S. dollar will keep weakening against other currencies.
If Buffett, ``landed from Mars today with a billion of Mars dollars, or whatever they call them on Mars, and I was thinking about where to put my money,'' he wouldn't put it all in the U.S. currency, he said today during a question-and-answer session at Omaha, Nebraska-based Berkshire's annual shareholder meeting.
Buffett, 77, has made investments with the assumption the U.S. dollar will weaken since at least 2002, first with direct bets against the currency, and later with his first purchase of a non-U.S. company.
``The U.S. is going to continue to follow policies that make the dollar weaker,'' Buffett said.
Americans' preference for foreign goods causes the country to send about $2 billion in ``IOUs'' and assets overseas every day, putting pressure on the dollar, Buffett said in his annual letter to shareholders.
He also said today that he feels ``no need'' to hedge against currency risk when buying large companies outside the U.S
What do you think??
- #78,055
- May 3, 2008 4:47pm May 3, 2008 4:47pm
- Joined Jan 2008 | Status: Only God Can Judge Me | 2,467 Posts
any comment ?
- #78,056
- May 3, 2008 4:58pm May 3, 2008 4:58pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #78,057
- May 3, 2008 5:09pm May 3, 2008 5:09pm
- Joined Jan 2008 | Status: Only God Can Judge Me | 2,467 Posts
- #78,058
- May 3, 2008 5:18pm May 3, 2008 5:18pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
Cheers warta, I like the look of that chart...nice and long to me.
- #78,060
- May 3, 2008 5:32pm May 3, 2008 5:32pm
- Joined Jan 2008 | Status: Only God Can Judge Me | 2,467 Posts
warta, what are those curves on your chart? Fib curves? Have they been good to you so far?
those curves are the gravity center hi/lo it show u the top and bottom and the trend direction