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

  • #78,521
  • May 6, 2008 9:31am May 6, 2008 9:31am
Quoting mike w
I've been on this thought for a while now. What motivates the price to move? A huge array of things are motivators, but when it really gets down to it, what separates the big moves from ones that are duds? Technicals, for me, do play a huge role which bring people into the markets, but I want to get deeper and learn how other people see the market as well. Like what creates the technicals and are there any times (as you mentioned Orions posts) that moves are generally larger because of something offbeat. I guess this comes with boredom from the market, but it could be a good thing to try to think of. Thanks for the compliment too man, I appreciate it! I am in the same boat for you too, with your fundamental approach.
I would LIKE TO KNOW what software are the inter banks using, how it works to calculate the rates.
  • #78,522
  • May 6, 2008 9:44am May 6, 2008 9:44am
I think the 4 hour is going to be looking good for the bulls, but now we just have to wait for the close of it.
I dream, therefore I become.
  • #78,523
  • May 6, 2008 9:47am May 6, 2008 9:47am
Quoting mike w
I think the 4 hour is going to be looking good for the bulls, but now we just have to wait for the close of it.

hahahahah


super bulls

Attached Image
  • #78,524
  • May 6, 2008 9:48am May 6, 2008 9:48am
What do you thik to the 4hr candle...I think we need it to close above the 55 SMA to be safe?
  • #78,525
  • May 6, 2008 9:51am May 6, 2008 9:51am
Quoting shakesfx
What do you thik to the 4hr candle...I think we need it to close above the 55 SMA to be safe?
Did you mean 5 sma or 55? In either case, I'm really just waiting to see a solid bullish candle, which I think will be a reality soon.
I dream, therefore I become.
  • #78,526
  • May 6, 2008 9:54am May 6, 2008 9:54am
Quoting mike w
Did you mean 5 sma or 55? In either case, I'm really just waiting to see a solid bullish candle, which I think will be a reality soon.
i think we will retest the 206 area before taking the way up
Attached Image
  • #78,527
  • May 6, 2008 9:55am May 6, 2008 9:55am
Bullish candle forming on UJ 4hr
Patience + Humility + Study = Success
  • #78,528
  • May 6, 2008 9:55am May 6, 2008 9:55am
Quoting shakesfx
What do you thik to the 4hr candle...I think we need it to close above the 55 SMA to be safe?
closed my shorts for +8, was good for 80pips, wasnt around to manage d trade,

Longs are good if 1hr candle closes above gann and qqe crosses up, !hr candloe must also close above the pesky 1hr 50 confidently for bulls to party, il be joining the party then
  • #78,529
  • Edited 9:58am May 6, 2008 9:57am | Edited 9:58am
Quoting mike w
Did you mean 5 sma or 55? In either case, I'm really just waiting to see a solid bullish candle, which I think will be a reality soon.
I'm using 55 SMA on the 4hr, which is where we are bouncing at the moment, if we can get above the 5 SMA I'll be very happy... I've been building longs from 206.76 and downwards, with the last ones stacked at 205.62 ,
hopefully we'll get some payback now... (great smilies BTW!!)

OK Bulls, do your stuff!!
  • #78,530
  • May 6, 2008 10:01am May 6, 2008 10:01am
Quoting shakesfx
I'm using 55 SMA on the 4hr, which is where we are bouncing at the moment, if we can get above the 5 SMA I'll be very happy... I've been building longs from 206.76 and downwards, with the last ones stacked at 205.62 ,
hopefully we'll get some payback now... (great smilies BTW!!)

OK Bulls, do your stuff!!
Oh yeah, I'm building mine on the way up and I put one in the 205's too. Good stuff man!

Oh and Warta, I agree with you on seeing 206 again before heading further up.
I dream, therefore I become.
  • #78,531
  • May 6, 2008 10:02am May 6, 2008 10:02am
Attached Image (click to enlarge)
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small retrace then up
  • #78,532
  • May 6, 2008 10:03am May 6, 2008 10:03am
1hr 200 former support acting ass resistance, i am hoping 4hr candle form DBLHC
  • #78,533
  • May 6, 2008 10:07am May 6, 2008 10:07am
so you guys are placing longs there in the 205.60 range? cool i might have to take a look at that.:nerd: <----- sweet!!!!
  • #78,534
  • May 6, 2008 10:09am May 6, 2008 10:09am
COME ON!!!! DON'T STALL ON ME NOW!!!!!
  • #78,535
  • May 6, 2008 10:12am May 6, 2008 10:12am
E/U 1 h chart form a nice pinbar to be shorted same as 4 h chart too
  • #78,536
  • May 6, 2008 10:14am May 6, 2008 10:14am
As I see it, this up move is not convincing yet. It's just a normal retracement to work out its hourly oversold level, then possibly back down again if Dow still keeps staying negative till close. I will be watching Dow closely.
  • #78,537
  • May 6, 2008 10:19am May 6, 2008 10:19am
I am presently short targeting the 203.5 area.

Had been hoping (lol) that price would continue north onwards from friday, but not really a suprise that it didn't.

Presently price is nudging a declining t/l and a break/ retest of this line will have me going long most probably (tempted to add a small short here at the t/l with a 10- 20 pip stop)

A break of the near lower T/L if broken, should take us to the 203.5 area, lower T/L and a confuence of support (see charts). Were I would expect the the bulls to take over again at a nice low price (maybe a fake break lower).

From there it would be nice to see 212 -213.

Just my view It will go were ever it wants.

Ignore the blue T/Ls they are from the Monthly and Weekly charts (too lazy to remove them)
Attached Image(s) (click to enlarge)
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  • #78,538
  • May 6, 2008 10:21am May 6, 2008 10:21am
Quoting mktjong
As I see it, this up move is not convincing yet. It's just a normal retracement to work out its hourly oversold level, then possibly back down again if Dow still keeps staying negative till close. I will be watching Dow closely.

When all the Big boys come back from lunch, they just play at the top...then short at the top....
  • #78,539
  • May 6, 2008 10:24am May 6, 2008 10:24am
Quoting PandoraBox
When all the Big boys come back from lunch, they just play at the top...then short at the top....
Exactly .. bull trap ..

  • #78,540
  • May 6, 2008 10:35am May 6, 2008 10:35am
the daily target for gold is 888.53..an hrly close above 883 will take us there...anything follows after then...g/j flows in the same direction with gold..
Imanuel Parsifal
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