i see that we are going down a bit more
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #81,822
- May 16, 2008 3:23pm May 16, 2008 3:23pm
- Joined Oct 2007 | Status: Counter Trend, but not always! | 2,147 Posts
Post#
Would like to mention this again before everyone says short
#81740
#81438
http://www.forexfactory.com/showpost...ostcount=81042
Discipline + Patience - Fear - Greed = Success
- #81,823
- May 16, 2008 3:26pm May 16, 2008 3:26pm
And dear Vinesh2 I would like to mention this too
http://www.forexfactory.com/showpost...ostcount=81042
Looks like we are sitting right at the bottom of that flag, waiting for a solid breakout.
Next week should be interesting.
Hope everyone has a great weekend !
- #81,824
- May 16, 2008 3:51pm May 16, 2008 3:51pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
On FXSol platform, it closed @203.22. I am expecting it to re-visit today's low on Monday morning Asian session, then in London would down to 201.5x area .. hopefully... then in NY session down to 199.8x area 
This time I leave all my shorts position open over the week-end. Hope it's ok ..
This time I leave all my shorts position open over the week-end. Hope it's ok ..
- #81,825
- May 16, 2008 3:54pm May 16, 2008 3:54pm
- | Joined Nov 2007 | Status: Addicted and proud of it! | 174 Posts
On FXSol platform, it closed @203.22. I am expecting it to re-visit today's low on Monday morning Asian session, then in London would down to 201.5x area .. hopefully... then in NY session down to 199.8x area
This time I leave all my shorts position open over the week-end. Hope it's ok ..
Hope you're right MK... my platform closes in 6mins and price has moved back up to the 203.80 area...
Addicted and proud of it! 
- #81,826
- May 16, 2008 3:55pm May 16, 2008 3:55pm
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
On FXSol platform, it closed @203.22. I am expecting it to re-visit today's low on Monday morning Asian session, then in London would down to 201.5x area .. hopefully... then in NY session down to 199.8x area
This time I leave all my shorts position open over the week-end. Hope it's ok ..
- #81,827
- May 16, 2008 3:55pm May 16, 2008 3:55pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
- #81,828
- May 16, 2008 4:00pm May 16, 2008 4:00pm
- Joined Feb 2008 | Status: Trader | 5,732 Posts
Patience + Discipline - Greed = Success
- #81,829
- May 16, 2008 4:01pm May 16, 2008 4:01pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
I've got a close of 203.63 
- #81,833
- May 16, 2008 4:06pm May 16, 2008 4:06pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Hope you're right MK... my platform closes in 6mins and price has moved back up to the 203.80 area...
- #81,834
- May 16, 2008 4:06pm May 16, 2008 4:06pm
- Joined Feb 2008 | Status: Trader | 5,732 Posts
I've got a close of 203.63
Patience + Discipline - Greed = Success
- #81,835
- May 16, 2008 4:07pm May 16, 2008 4:07pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Price @203.73 on Alpari. 5 more min to close.
- #81,836
- May 16, 2008 4:12pm May 16, 2008 4:12pm
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
Don't read too much into that. Mine closed at 203.6 but the day chart shows the channel is being respected....Short looks very good to me..
If we ignore the price action from the last few hours due to it being Friday money flows then I think the Shorts look good. We have still had the second day with a lower low. Looking at the daily candles I think this is just warming up before it gathers momentum South. Of course I could be wrong...but lets hope I'm right this time.
- #81,837
- May 16, 2008 4:14pm May 16, 2008 4:14pm
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
I don't set a stoploss this time .. let it have plenty of cushion
Will see what happens on Monday. Have a good weekend guys.
- #81,838
- May 16, 2008 4:17pm May 16, 2008 4:17pm
- Joined Feb 2008 | Status: Trader | 5,732 Posts
I don't set a stoploss this time .. let it have plenty of cushion
Have a great weekend all. Don't forget to party.....
Patience + Discipline - Greed = Success
- #81,839
- May 16, 2008 8:18pm May 16, 2008 8:18pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
I am seeing a bear flag on the 2 hour as long as we remain under the 61.8% fib retracement of the 209 to 199.8 move down.
The flag has already tested the 50% fib retrace at 204.41 and ended the day today just above the 38.2% level at 203.32. I saw a few other post mentioned almost this price level as being important.
The 10 , 20 and 50 sma are very tight , but the price closed below the 50 sma which to me is still bearish.
If we drop next week I have drawn some Fib expansion on a 1-2-3 sell formation ( high , low and lower high) . These are the green lines in the attached chart.
These give the following targets to the down side:
38.2 = 201.45
50 = 200.37
61.8=199.3
78.6 = 197.50
If this is broken we typically go to the 123.6= 193.5
As long as we remain under the 205 level my 1-2-3 sell formation remains in play.
The flag has already tested the 50% fib retrace at 204.41 and ended the day today just above the 38.2% level at 203.32. I saw a few other post mentioned almost this price level as being important.
The 10 , 20 and 50 sma are very tight , but the price closed below the 50 sma which to me is still bearish.
If we drop next week I have drawn some Fib expansion on a 1-2-3 sell formation ( high , low and lower high) . These are the green lines in the attached chart.
These give the following targets to the down side:
38.2 = 201.45
50 = 200.37
61.8=199.3
78.6 = 197.50
If this is broken we typically go to the 123.6= 193.5
As long as we remain under the 205 level my 1-2-3 sell formation remains in play.
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