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

  • #85,001
  • May 28, 2008 11:41am May 28, 2008 11:41am
Quoting eric_charbon
http://forexfactory.com/images/icons/icon6.gif

Looks like mixed signals to me????
  • #85,002
  • May 28, 2008 11:44am May 28, 2008 11:44am
Quoting quecee5
Intraday pivot is @ 207 area which 23.6% pull back. . . Intraday S1 comes in at 206.53 which 38.2% pullback and also daily DR1 now turned support (DS1).

I don't think the 4hr upmove has played out yet, needs to reach intraday R1 @ 207.90/208 which is also DR3. . .

Check out the chart below. . .
Congestion zone. Good stuff
  • #85,003
  • May 28, 2008 11:46am May 28, 2008 11:46am
Quoting lilmoe
207.70 is still in sight...
not bad me thinks, i had a sell limit at 207.65 just in case, let's see how this one plays out.

UJ looks like it has built a peak, price though as bounced off 4h 5sma. i'm closing the rest of my shorts on UJ, this sucker looks like it's ready to go up more.

more bad news. Cable is building the same pattern GJ has made before it rallied to 206.50. i just hope that pattern is broken before this session ends. i'm planning to close my shorts on cable 1.9750 if we reach there.

i set my SL to b/e on GJ just in case. cuz that sucker really looks like it's about to shoot up.
  • #85,004
  • May 28, 2008 11:48am May 28, 2008 11:48am
Quoting eric_charbon
Congestion zone. Good stuff
Watch what happens to price late this afternoon before IMM close ar'd 3pm EST. . . Should hit intraday R1/R2. . .
  • #85,005
  • May 28, 2008 11:49am May 28, 2008 11:49am
Quoting ukvipersden
you be the judge!
I prefer the one in the upper left corner but picture too small to tell
  • #85,006
  • May 28, 2008 11:49am May 28, 2008 11:49am
i have mentioned this before. GJ always sets its charts for a bullish movement before a huge dump. recently i've been only taking short signals, not longs. the only longs i've made this week were scalps. i still believe we're up for a huge dump as long as 209 holds. 209 might not hold and we might still get that huge dump.......... man those suckers always confuse the heck out of us before a major move. making sure the least amount of traders do get it right.


Quoting lilmoe
not bad me thinks, i had a sell limit at 207.65 just in case, let's see how this one plays out.

UJ looks like it has built a peak, price though as bounced off 4h 5sma. i'm closing the rest of my shorts on UJ, this sucker looks like it's ready to go up more.

more bad news. Cable is building the same pattern GJ has made before it rallied to 206.50. i just hope that pattern is broken before this session ends. i'm planning to close my shorts on cable 1.9750 if we reach there.

i set my SL to b/e on GJ just in case. cuz that sucker really looks like it's about to shoot up.
  • #85,007
  • May 28, 2008 11:50am May 28, 2008 11:50am
Quoting quecee5
Watch what happens to price late this afternoon before IMM close ar'd 3pm EST. . . Should hit intraday R1/R2. . .
We'll do and thanks again for your reply always appreciated.
  • #85,008
  • May 28, 2008 11:52am May 28, 2008 11:52am
Quoting lilmoe
i have mentioned this before. GJ always sets its charts for a bullish movement before a huge dump. recently i've been only taking short signals, not longs. the only longs i've made this week were scalps. i still believe we're up for a huge dump as long as 209 holds. 209 might not hold and we might still get that huge dump.......... man those suckers always confuse the heck out of us before a major move. making sure the least amount of traders do get it right.
I had this feeling too can't make my mind to take longs with this pair recently
  • #85,009
  • May 28, 2008 11:55am May 28, 2008 11:55am
Quoting lilmoe
i have mentioned this before. GJ always sets its charts for a bullish movement before a huge dump. recently i've been only taking short signals, not longs. the only longs i've made this week were scalps. i still believe we're up for a huge dump as long as 209 holds. 209 might not hold and we might still get that huge dump.......... man those suckers always confuse the heck out of us before a major move. making sure the least amount of traders do get it right.
Might want to take in consideration that months end is Friday and fundies are trying to show profits going into the next month. . . Might see some profit taking then, but until then I think we will see price continue to be pushed up.

Right now trend is your friend, buy on the dips and sell on the rallies is the best strategy, at least for me that is. . . =
  • #85,010
  • May 28, 2008 11:56am May 28, 2008 11:56am
Quoting quecee5
Watch what happens to price late this afternoon before IMM close ar'd 3pm EST. . . Should hit intraday R1/R2. . .
Who's unloading at 3pm its a daily thing from what the chart is telling at least recently.
  • #85,011
  • May 28, 2008 12:10pm May 28, 2008 12:10pm
Quoting eric_charbon
Who's unloading at 3pm its a daily thing from what the chart is telling at least recently.
IMM - International Monetary Market-the Chicago-based currency futures market, part of the Chicago Mercantile Exchange.

IMM Session - 8:00 AM EST - 3:00 PM EST
  • #85,012
  • May 28, 2008 12:14pm May 28, 2008 12:14pm
trend is your friend, that u're right. but again as i raised this question before.... which trend will u follow?? price might go up 200 more pips and still be in it's major downtrend. the major trend is down, no doubt about that. we ARE approaching the end of the month, that IS absolutely important. BUT has nothing to do with price action in my opinion. major rallies or major dumps happen regardless of what time of the month we're at. but major dumps do have something in common; they happen at the end or beginning of the week. just a heads up my friend.

i will hold on to my shorts. and now i'm thinking of raising my SL, lol. but that's just me. u guys have seen me wrong before.

Quoting quecee5
Might want to take in consideration that months end is Friday and fundies are trying to show profits going into the next month. . . Might see some profit taking then, but until then I think we will see price continue to be pushed up.

Right now trend is your friend, buy on the dips and sell on the rallies is the best strategy, at least for me that is. . . =
  • #85,013
  • May 28, 2008 12:15pm May 28, 2008 12:15pm
Quoting quecee5
IMM - International Monetary Market-the Chicago-based currency futures market, part of the Chicago Mercantile Exchange.

IMM Session - 8:00 AM EST - 3:00 PM EST
You're a genious, btw how can i get this Gann HI LO chart do I have to have some special charting package.
  • #85,014
  • May 28, 2008 12:18pm May 28, 2008 12:18pm
Quoting lilmoe
trend is your friend, that u're right. but again as i raised this question before.... which trend will u follow?? price might go up 200 more pips and still be in it's major downtrend. the major trend is down, no doubt about that. we ARE approaching the end of the month, that IS absolutely important. BUT has nothing to do with price action in my opinion. major rallies or major dumps happen regardless of what time of the month we're at. but major dumps do have something in common; they happen at the end or beginning of the week. just a heads up my friend.

i will hold on to my shorts. and now i'm thinking of raising my SL, lol. but that's just me. u guys have seen me wrong before.
That's fine but you might be holding them for a bit. . . Price has breached the 206.50 area and is headed for a retest of 208/208.99 and possibly higher. . .

As long as price is supported above that area GJ is headed up further, but that's just my opinion. . . I say we will see 208 or higher by the end of the session, let's see how this plays out. . .
  • #85,015
  • May 28, 2008 12:21pm May 28, 2008 12:21pm
Quoting quecee5
IMM - International Monetary Market-the Chicago-based currency futures market, part of the Chicago Mercantile Exchange.

IMM Session - 8:00 AM EST - 3:00 PM EST
Geee.. Q. You're a genious.
  • #85,016
  • May 28, 2008 12:28pm May 28, 2008 12:28pm
Quoting pkimnyc
Geee.. Q. You're a genious.
Naw, just been taught by some really intelligent people that know the market. . . Anyway, a rule of thumb, during the opening time give great clues what type of day it's going to be buy or sell. . . hint/hint. . .

Here us another nugget for you if you didn't already know, it's called daily FGinxing which happens during each session, also tells you what type of day it might be, buy/sell. . .

Fix - One of the approximately 5 times during the FX day when a large amount of currency must be bought or sold to fill a commercial customers' orders. Typically these times are associated with market volatility. The regular fixes are (all times NY)

  1. 5:00 AM - Frankfurt
  2. 6:00 AM - London
  3. 10:00 AM - WMHCO (World Market House Company)
  4. 11:00 AM - WMHCO (World Market House Company)- more important
  5. 8:20 AM - IMM
  6. 8:15 AM - ECB

  • #85,017
  • May 28, 2008 12:29pm May 28, 2008 12:29pm
Quoting quecee5
That's fine but you might be holding them for a bit. . . Price has breached the 206.50 area and is headed for a retest of 208/208.99 and possibly higher. . .

As long as price is supported above that area GJ is headed up further, but that's just my opinion. . . I say we will see 208 or higher by the end of the session, let's see how this plays out. . .

I agree Q completely, nothing bearish here, and to think monthly opens closes are irrelevant is fatal IMO
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_8.gif Size: 55 KB
"Millionaires don't use astrology, billionaires do"
  • #85,018
  • May 28, 2008 12:29pm May 28, 2008 12:29pm
Quoting eric_charbon
You're a genious, btw how can i get this Gann HI LO chart do I have to have some special charting package.
you can download mt4 for free. I use fxdd demo. look for the indicators from this thread, then drop em in "indicators" folder inside the "expert" folder.
hope this helps.
  • #85,019
  • May 28, 2008 12:32pm May 28, 2008 12:32pm
hey guys hows u all
QQ hows u bro
lilmoe ezayak ya 3assal :d
how was ur trade today guys it was surprice the good news for $
well have a nice trade and wish u a load of green pips
  • #85,020
  • May 28, 2008 12:32pm May 28, 2008 12:32pm
Quoting quecee5
Naw, just been taught by some really intelligent people that know the market. . . Anyway, a rule of thumb, during the opening time give great clues what type of day it's going to be buy or sell. . . hint/hint. . .

Here us another nugget for you if you didn't already know, it's called daily FGinxing which happens during each session, also tells you what type of day it might be, buy/sell. . .

Fix - One of the approximately 5 times during the FX day when a large amount of currency must be bought or sold to fill a commercial customers' orders. Typically these times are associated with market volatility. The regular fixes are (all times NY)

  1. 5:00 AM - Frankfurt
  2. 6:00 AM - London
  3. 10:00 AM - WMHCO (World Market House Company)
  4. 11:00 AM - WMHCO (World Market House Company)- more important
  5. 8:20 AM - IMM
  6. 8:15 AM - ECB

Thanks so much, good stuff
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