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

  • #80,261
  • May 12, 2008 10:13am May 12, 2008 10:13am
Quoting sikacek
202.70?? is that correct?
Yup .. around there ..
  • #80,262
  • May 12, 2008 10:15am May 12, 2008 10:15am
Quoting EnterpriseFX
Look at it now!! look at it now... the key is to get in early.. that way your S/L is small... compared to say... now!

stopppppppp, i'm biting my nails for not shorting the topp!!!!!
  • #80,263
  • May 12, 2008 10:15am May 12, 2008 10:15am
Quoting mktjong
Yup .. around there ..
..and from there to the sky??
Veni, vidi, vici...
  • #80,264
  • May 12, 2008 10:16am May 12, 2008 10:16am
Quoting lilmoe
stopppppppp, i'm biting my nails for not shorting the topp!!!!!
However.. on a 5 min... it might have just found support!
  • #80,265
  • May 12, 2008 10:18am May 12, 2008 10:18am
Quoting mktjong
Where do u go to see that Mike?
You know where I live, can't hardly see any in town . maybe I just never pay attention :-)
Vacation bro! Universal studios has an awesome walkthrough of a few different sets if your into movies and want to drop the money to get there.
I dream, therefore I become.
  • #80,266
  • May 12, 2008 10:19am May 12, 2008 10:19am
one more thing... if this support holds, then we have an inverse head and shoulders formation on the 15M
  • #80,267
  • May 12, 2008 10:21am May 12, 2008 10:21am
Quoting EnterpriseFX
one more thing... if this support holds, then we have an inverse head and shoulders formation on the 15M

with a neckline being the same ole resistance we've been waiting the price to breach
  • #80,268
  • May 12, 2008 10:23am May 12, 2008 10:23am
Does everyone see this channel on the Dow? I wonder if it will hold
Attached Image (click to enlarge)
Click to Enlarge Name: dow.GIF Size: 25 KB
Patience + Discipline - Greed = Success
  • #80,269
  • May 12, 2008 10:28am May 12, 2008 10:28am
you don't understand. my whole trading system is based on divergences and trend lines and i can tell you that a CONFIRMED divergence works almost all the time. that is, there's a high probability of success. i have been using this system for almost a year now, i mostly trade h4 and daily charts (except for g-j where i can go as low as 1 minute or 10 seconds - because yes, divergences work on ANY timeframe) and i haven't had a month with less than 10% net profit. my average is about 20% a month and IT ALL comes from divergences, trend lines and multiple timeframes. not bad for a part time trader, is it?
the pic i posted was from babypips... which is the very basic for technical analysis. i would attach another one for you, but there seems to be something wrong with the attachment button here.

Quoting mktjong
Well, you may also post weekly or monthly or even yearly divergence. But what is of its use if it doesn't convey any high probability of trade. My point is, the source that you were referenced to was inaccurate .. it just doesn't work on any time frame ..
Nihil Sine Deo.
  • #80,270
  • May 12, 2008 10:40am May 12, 2008 10:40am
Quoting Scrat
you don't understand. my whole trading system is based on divergences and trend lines and i can tell you that a CONFIRMED divergence works almost all the time. that is, there's a high probability of success. i have been using this system for almost a year now, i mostly trade h4 and daily charts (except for g-j where i can go as low as 1 minute or 10 seconds - because yes, divergences work on ANY timeframe) and i haven't had a month with less than 10% net profit. my average is about 20% a month and IT ALL comes from divergences, trend lines and multiple timeframes. not bad for a part time trader, is it?
the pic i posted was from babypips... which is the very basic for technical analysis. i would attach another one for you, but there seems to be something wrong with the attachment button here.
amen
  • #80,271
  • May 12, 2008 10:42am May 12, 2008 10:42am
Quoting Scrat
you don't understand. my whole trading system is based on divergences and trend lines and i can tell you that a CONFIRMED divergence works almost all the time. that is, there's a high probability of success. i have been using this system for almost a year now, i mostly trade h4 and daily charts (except for g-j where i can go as low as 1 minute or 10 seconds - because yes, divergences work on ANY timeframe) and i haven't had a month with less than 10% net profit. my average is about 20% a month and IT ALL comes from divergences, trend lines and multiple timeframes. not bad for a part time trader, is it?
the pic i posted was from babypips... which is the very basic for technical analysis. i would attach another one for you, but there seems to be something wrong with the attachment button here.
Thanks Scrat.
Of course, divergence always works. I also got my trade last nite. But the way how the divergence is read accurately is the one am talking about. The source that you referenced to is the opposite of what I have been taught.
  • #80,272
  • May 12, 2008 10:43am May 12, 2008 10:43am
Have you guys heard about that earthquake in China. Over 9000 killed. I pray for them as this is a very sad day.

Bless
Patience + Discipline - Greed = Success
  • #80,273
  • May 12, 2008 10:46am May 12, 2008 10:46am
Quoting Infinity
Have you guys heard about that earthquake in China. Over 9000 killed. I pray for them as this is a very sad day.

Bless
Very tragic indeed, lots of tragic stuff there in that region of the world. First Myanmar, then China
Patience + Humility + Study = Success
  • #80,274
  • May 12, 2008 10:49am May 12, 2008 10:49am
Quoting Infinity
Have you guys heard about that earthquake in China. Over 9000 killed. I pray for them as this is a very sad day.

Bless
Quoting DutchTrader
Very tragic indeed, lots of tragic stuff there in that region of the world. First Myanmar, then China
Thanks bros for the news .. is a sad and surprise news. Indeed, we need to pray for them. They are not as fortunate as most of us here.
  • #80,275
  • May 12, 2008 10:50am May 12, 2008 10:50am
Looks like DOW is keeping this baby from completing its retrace to 50% or 61% fibo from the last move UP. Well IMO we just have to get some Karmos Patience Pills and wait for US boys to finish their day!!!!
  • #80,276
  • May 12, 2008 10:51am May 12, 2008 10:51am
may their souls be at peace

Quoting Infinity
Have you guys heard about that earthquake in China. Over 9000 killed. I pray for them as this is a very sad day.

Bless
  • #80,277
  • May 12, 2008 11:01am May 12, 2008 11:01am
Quoting karmostaji
202.30-.40 and then back up again
Played out nicely

203.60 is a tough S/R level, and ya'll remember the daily is very bearish so if the new daily momentum is pointing downwards then look down below, btw we completed the daily 5sma retrace (VTtrader chart)
Trade what you see, not what you think.
  • #80,278
  • May 12, 2008 11:07am May 12, 2008 11:07am
"The 3 important pairs for GJ are all holding just under their 50% fibs off my hourly charts. The Swissy's at 1.0506 and it has been there for 7 hours, UJ is a tad under and held by its M3 pivot at 103.96 and cable has its 50 at 1.9606 with its high so far at 602.

GJ has spiked above it 50% of 203.47 with a high of 203.72. Lets see what the pit open of the Dow etc bring......"
__________________

Little change since I posted this 4.5 hours ago.....cable did get 27 pips higher - but still in its DZ before turning back down and the others have only made equal or lower highs.

The Swissy has continued lower and IMO its only the Dow that's keeping UJ from falling. Lets see what the US afternoon brings.....
Trading Levels with WRBs
  • #80,279
  • May 12, 2008 11:07am May 12, 2008 11:07am
Quoting Islander
Little change since I posted this 4.5 hours ago.....cable did get 27 pips higher - but still in its DZ before turning back down and the others have only made equal or lower highs.

The Swissy has continued lower and IMO its only the Dow that's keeping UJ from falling. Lets see what the US afternoon brings.....
exactly
Patience + Humility + Study = Success
  • #80,280
  • May 12, 2008 11:17am May 12, 2008 11:17am
this might freagin range for the rest of the day. sighs.
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