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

it's not yesterday's high?

Well my quick Short was stopped out above 204.50. I've decided to ignore the 4hr Cross-overs for now as they have been unreliable the last few days and gone with the 1hr Zstochs Overbought and oversold areas. If I'd stuck to this method yesterday I would have kept my Long from 202.60 and not be as pissed off as i am now.

So, Looking at the 1hr I have extremely overbought conditions:

Z Stochs Maxed out
Z MACD almost peaked
QQE above 63

Double top on the 1hr

I have gone Short (after the other Short was Stopped out this morning LOL) from 204.64 with a SL above 205, as I expect a quick spike up there before a tumble (well if I was a bank I'd spike it, wouldn't you?)

I'll hold this until the Z stochs are into oversold turf.

Will try and post a chart in a mo.

hey there. i use daily, weekly, and monthly pivots for both GJ and UJ. i love it when one of them is reach OB or OS levels while approaching those levels, and i do trade based on that (sometimes). and usually the turn out to be really good.

now about that strategy. i didn't learn it from anywhere. it's basically personal observation on cable. i've been trading cable for a long time now (3 years maybe)

when cable's on a short term uptrend or downtrend, and when i say short term i mean for the last 2-3 days. you buy or short when the price touches or at least gets really near to the daily pivot. u set ur first TP at 25 - 40 pips (u'll know by experience where to set ur first TP) and the second u leave it for 75 pips at least with a B/E SL when the first tp is reached..
cable respects pivots more than GJ, and they are usually very tough to breach.

u can mix that method with my m30 strategy on cable and it will work like a charm for ya, that's how it works for me. hope u do well on it.

Here's the 1hr Chart I was talking about.

lol, yes i do, "sometimes"

i slept 7 hours earlier, that was good

oops, yes i meant the other day's high. yesterday's high was obviously breached long ago.

if u think i don't sleep much, Aus used to sleep 20 mintues a day,

Thinking out loud again....

I've seen this kind of PA before....seems it should drop a bit, but only drops 10-15 pips...then up further, and further etc etc blah blah blah. Definitely a Clearing Bank somewhere I think. When they've finished this fake head crap I think we'll drop hard and fast. E/J is approaching 163 yet again, so, when G/J at 205, E/J at 163, G/U at 1.9800 then we'll be off South. OR - of course we could breach the whole lot, in which case 207-9 is on the cards me thinks....

I am curious how the DoW will effect this. We have had 2 days of down for the DoW. If we have a slight up day. What can we expect?

for those who are thinking 207, daily TL is at 206 at this point. if that tl is breached, i don't think 207 is the target, but more likely 213. just a heads up.

Can you help me out here?

Now at 204.80....Could be intresting watching my shorts do the underwater tango if this and 205 is taken out...

damn this think surely took some these pills...

Look how maxed out the CCI is on 1hr...

so?

Ranging for so many times and now bears are in danger...

cci is not the only thing that's maxed out, every other oscillator is

Morning All,

Wow .. look at the price ..unbelievable.. I think it would top out pretty soon. Solid resistance @204.9x area .. but who knows ..
Bearish divergence is forming on 4H (?)

CCI double peak at 297, prices cannot sustain in this area for too long.
Slow Stochs at 102, cannot hold in this area too long also.

Each time CCI is above 250, we can expect it to drop back, and with the drop back price will retrace either for us to a.) enter at a better price or b.) continue to hold Shorts if we think it's going further South.

This is what I call a BS move, and it's only function is for a better Short price.

Of course I could be wrong bro, I'm undecided in direction at the moment and this market is full of surprises.

lmfao @ shorts

the whole damn thread was short yesterday, ahahaha