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

  • #83,841
  • May 23, 2008 3:46am May 23, 2008 3:46am
Quoting karmostaji
Different brokers, different opening timings of the 4H candle
yeah, thanks was aware. just looking at it as a heads up for my new 4hr mom.thanks
  • #83,842
  • May 23, 2008 3:49am May 23, 2008 3:49am
Quoting WarrenBuffet
could this leg down going to prove yesterday's up was a false break?

Not so sure about that...Looking at Daily we are trading above Gann HiLo, 5 SMA, Z Stochs crossed up, QQE crossed over 50, Z MACD about to print a tick into positive. PA shows yesterdays engulfing Bull candle to be quite formidable....I would only be using dips as buying opportunites or to get rid of trapped Shorts IMHO.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy daily.gif Size: 21 KB
  • #83,843
  • May 23, 2008 3:54am May 23, 2008 3:54am
Quoting quecee5
Looks like down to me to at least 205 area . . Maybe back to 204 support. . .

Gd night all. . .
hi Q
agree with u
  • #83,844
  • May 23, 2008 3:56am May 23, 2008 3:56am
Q
we will see fall for USDYEN again
  • #83,845
  • May 23, 2008 3:56am May 23, 2008 3:56am
Quoting lilmoe
locked in some profit at 205.20
morning

i closed all my shorts too
  • #83,846
  • May 23, 2008 3:58am May 23, 2008 3:58am
Quoting hussin naiji
Q
we will see fall for USDYEN again
what reasons are that USD/YEN will go up ,i can not see
  • #83,847
  • May 23, 2008 3:58am May 23, 2008 3:58am
Quoting lilmoe
yay!

  • #83,848
  • May 23, 2008 4:19am May 23, 2008 4:19am
Quoting msniper
morning

i closed all my shorts too

good job bro.

however, i won't be going long here, or now. we have a bearish engulfing pattern and a rejection pattern on my 4h chart, plus price couldn't breach my fibo fan i posted last week. (man i was so dumb i didn't look at that chart, because i have about 4-5 4h charts on my screen each with a different setup, i sometimes "forget" to watch all of them.) it was clear that the price was going up at the start of the candle marked in blue. and my target should have been the next fibo fan level. but i'm not perfect.

i'm suggesting further downside (retracement), maybe to 50% maybe lower, unless price breaches that fan and goes on upwards.


here's the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: h4.gif Size: 23 KB
  • #83,849
  • May 23, 2008 4:21am May 23, 2008 4:21am
price is currently being rejected by 38.2, also pivot at same place. i'll hold on to my shorts until i get an m30 gann cross confirmation. might re-enter back short if it crosses back down.


Quoting lilmoe
good job bro.

however, i won't be going long here, or now. we have a bearish engulfing pattern and a rejection pattern on my 4h chart, plus price couldn't breach my fibo fan i posted last week. (man i was so dumb i didn't look at that chart, because i have about 4-5 4h charts on my screen each with a different setup, i sometimes "forget" to watch all of them.) it was clear that the price was going up at the start of the candle marked in blue. and my target should have been the next fibo fan level. but i'm not perfect.

i'm suggesting further downside (retracement), maybe to 50% maybe lower, unless price breaches that fan and goes on upwards.


here's the chart.
Attachment
  • #83,850
  • May 23, 2008 4:23am May 23, 2008 4:23am
Quoting lilmoe
price is currently being rejected by 38.2, also pivot at same place. i'll hold on to my shorts until i get an m30 gann cross confirmation. might re-enter back short if it crosses back down.

we might see 204.7x before new york, 60/40% chance.
  • #83,851
  • May 23, 2008 4:45am May 23, 2008 4:45am
caary trade unwind
  • #83,852
  • May 23, 2008 4:45am May 23, 2008 4:45am
locked in more profit at 204.75
  • #83,853
  • May 23, 2008 4:50am May 23, 2008 4:50am
Quoting krunforex
caary trade unwind
why do you say so? any evidence to back it up? does it mean, everytime gj goes down means carry trade unwind?
  • #83,854
  • May 23, 2008 4:51am May 23, 2008 4:51am
I am a newbie here, just interested what size lots are most people trading on this forum?
  • #83,855
  • May 23, 2008 4:55am May 23, 2008 4:55am
Quoting krunforex
caary trade unwind
charts and backup please........sighs..
  • #83,856
  • May 23, 2008 4:58am May 23, 2008 4:58am
Quoting sandpiper
I am a newbie here, just interested what size lots are most people trading on this forum?
Depend your account amount. I'm normally around 40 - 50 lot. Yesterday short at 206.35 (50 lot).
  • #83,857
  • May 23, 2008 5:01am May 23, 2008 5:01am
Looks like we may have picked up the buyers at 204.73 just above 50% Fib of yesterday's rally...
  • #83,858
  • May 23, 2008 5:07am May 23, 2008 5:07am
closed short at 204.84, 4hr fiblevels on my charts. See how price reacts when it get to d 4hr fibs.
4hr fibs drawn since d 18th of april. 204.84 is d 38.2% of d fib drawn from april, coinciding with 1hr 50 and 50% fib of yesterdays move up.
waiting for new 4hr MOM to scalp and close or hold depending on confirmations.
To rehort if MOM dosnt point on a nice retracement nice retracement


EDIT

Now long from 205
Attached Images
  • #83,859
  • May 23, 2008 5:07am May 23, 2008 5:07am
Sorry another question, I know most of you work on longer time frames, but would you look at a 5 min TF to confirm thoughts. Or do you tend to steer clear of them.
  • #83,860
  • May 23, 2008 5:09am May 23, 2008 5:09am
Quoting shakesfx
Looks like we may have picked up the buyers at 204.73 just above 50% Fib of yesterday's rally...



204.73 on the dot is 61.8 fibo expansion and is where i set my second TP. we still have a good chance of breaking it i think.
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