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

  • #94,661
  • Jun 17, 2008 9:26am Jun 17, 2008 9:26am
Quoting lilmoe
naaaah. 1.9400 is the most it would go to. i'll buy it from there too

but i'm not sure if that'll happen after it bounced from 78.6 fib.

Attachment
I agree with that view. I am now long from 9500...taking some off 50 pips north..
Patience + Discipline - Greed = Success
  • #94,662
  • Jun 17, 2008 9:27am Jun 17, 2008 9:27am
For the newbies only:

If you are going to buy a pair, buy it close to daily, weekly, or monthly support, with sl on opposite side. Dont chase the market. Get a good price to own it.
  • #94,663
  • Jun 17, 2008 9:28am Jun 17, 2008 9:28am
Quoting ovaforty
daily chart for cable is very bearish.
true, but take a look at those daily candles

6/10
4/29
4/21

all bearish with a bullish candle following them. tomorrow will be bullish on cable and thursday will be bearish (if we touch the upper tl in my previous post)

cable's been very easy and predictable. that patter has been going on since march. it's a slow BUMPY downtrend.
  • #94,664
  • Edited 9:42am Jun 17, 2008 9:28am | Edited 9:42am
Quoting Catch-22
Would you be using an SL there Quecee? Wondering where you think would be a good SL for 211.4/6.
No, because I still have positions at 212.75 or so, additional sell order would make my avg. position ar'd 212.35/40 area so my SL would be +50 pips to lock in profit which puts it ar'd the 211.85/95 area. . .
  • #94,665
  • Jun 17, 2008 9:29am Jun 17, 2008 9:29am
Quoting lilmoe
true, but take a look at those daily candles

6/10
4/29
4/21

all bearish with a bullish candle following them. tomorrow will be bullish on cable and thursday will be bearish (if we touch the upper tl in my previous post)

cable's been very easy and predictable. that patter has been going on since march. it's a slow BUMPY downtrend.
Patience + Discipline - Greed = Success
  • #94,666
  • Jun 17, 2008 9:31am Jun 17, 2008 9:31am
Quoting lilmoe
naaaah. 1.9400 is the most it would go to. i'll buy it from there too

but i'm not sure if that'll happen after it bounced from 78.6 fib.

Attachment

here's a daily chart showing the stupid descending triangle it's been playing for the past 3 months. breach of either TLs will surely tell the direction of the next coming "un-bumpy" trend.

Attached Image (click to enlarge)
Click to Enlarge Name: cable_daily.gif Size: 24 KB
  • #94,667
  • Jun 17, 2008 9:34am Jun 17, 2008 9:34am
Quoting Infinity
I agree with that view. I am now long from 9500...taking some off 50 pips north..

Nice, the retrace has finally started - anywhere into the DZ - 9557 to 9611 will be good....
Attached Image (click to enlarge)
Click to Enlarge Name: jne 17 gu 15m 1430.gif Size: 9 KB
Trading Levels with WRBs
  • #94,668
  • Jun 17, 2008 9:35am Jun 17, 2008 9:35am
Quoting ovaforty
211.45/65 looks like a good entry for a short to me
Yep, again I think GU will be the catalyst to get it there while $ is sold off. . .
Look at GU and EU as $ continues to make its way south. . . I think we'll see UJ at Londons lows if not lower, I'm thinking 107.20/107 (if 108 is breached) will be tested soon which should eventually drag GJ with it. . . Ultimately I see GJ at 210.30's/209.40/60 area on a failure above. . .
  • #94,669
  • Jun 17, 2008 9:38am Jun 17, 2008 9:38am
looking to long euro

m30 system setup

Attached Image (click to enlarge)
Click to Enlarge Name: euro_m30.gif Size: 38 KB
  • #94,670
  • Jun 17, 2008 9:41am Jun 17, 2008 9:41am
Quoting Catch-22
Would you be using an SL there Quecee? Wondering where you think would be a good SL for 211.4/6.
A good SL would be above the daily pivot. . . If price makes a daily close above the DP GJ will head up to test 213.40/50 area 1st target. A failure at the DP will drag price down to 209.40 area. . .

Hope this helps. . .
  • #94,671
  • Jun 17, 2008 9:58am Jun 17, 2008 9:58am
sorry for the delay, i was on my way to work.
this is a 40min chart... i marked the oscillators so that you can see they got out of that extreme OS level... but at the same time, h4 stochastic is extremely OS; also, price is below h4 gann, so short term bias is bearish.
this configuration makes me think we will most likely have another push down, let's say from 211.50 area (you can look on 5min chart for a good entry) and it will go lower than 210.63. right now i can think of 209.60 as a TP, but to tell you the truth it can be anywhere between 207.50 and 209.60. it can even go lower to test the daily gann or the daily trend line (which on my chart are on the same area).
we'll see.

Quoting lilmoe
your analysis...

typo.
Attached Image (click to enlarge)
Click to Enlarge Name: gjm40.gif Size: 24 KB
Nihil Sine Deo.
  • #94,672
  • Jun 17, 2008 10:03am Jun 17, 2008 10:03am
Quoting lilmoe
looking to long euro

m30 system setup

Attachment
EU's upside looks limited short-term. . . I see a pullback coming soon down to 1.5400 area before heading back up to test 1.56/1.57/1.58 area. . .

Take a look at your 1hr chart - I see 5 waves up from 1.5300 area. . . It looks like it is in a 3 wave correction down that will end at ar'd 1.54 area.
I'm looking to go long ar'd that area. . . of course this is JMHO!
  • #94,673
  • Jun 17, 2008 10:04am Jun 17, 2008 10:04am
Quoting Scrat
sorry for the delay, i was on my way to work.
this is a 40min chart... i marked the oscillators so that you can see they got out of that extreme OS level... but at the same time, h4 stochastic is extremely OS; also, price is below h4 gann, so short term bias is bearish.
this configuration makes me think we will most likely have another push down, let's say from 211.50 area (you can look on 5min chart for a good entry) and it will go lower than 210.63. right now i can think of 209.60 as a TP, but to tell you the truth it can be anywhere between 207.50 and 209.60. it can even go lower to test the daily gann or the daily trend line (which on my chart are on the same area).
we'll see.
thanks big guy
confirms the aus 4h strategy, retrace to 5sma, after that i'll post crappy doo
  • #94,674
  • Jun 17, 2008 10:05am Jun 17, 2008 10:05am
Quoting Scrat
sorry for the delay, i was on my way to work.
this is a 40min chart... i marked the oscillators so that you can see they got out of that extreme OS level... but at the same time, h4 stochastic is extremely OS; also, price is below h4 gann, so short term bias is bearish.
this configuration makes me think we will most likely have another push down, let's say from 211.50 area (you can look on 5min chart for a good entry) and it will go lower than 210.63. right now i can think of 209.60 as a TP, but to tell you the truth it can be anywhere between 207.50 and 209.60. it can even go lower to test the daily gann or the daily trend line (which on my chart are on the same area).
we'll see.
Very good thoughts. . .
  • #94,675
  • Jun 17, 2008 10:05am Jun 17, 2008 10:05am
Quoting ovaforty
i am monitoring the last hour of Frankfurt/london to see what they do
Don't take it with high regards bro. It is as deceiving as yesterday's and always ..maybe
  • #94,676
  • Jun 17, 2008 10:06am Jun 17, 2008 10:06am
Quoting quecee5
EU's upside looks limited short-term. . . I see a pullback coming soon down to 1.5400 area before heading back up to test 1.56/1.57/1.58 area. . .

Take a look at your 1hr chart - I see 5 waves up from 1.5300 area. . . It looks like it is in a 3 wave correction down that will end at ar'd 1.54 area.
I'm looking to go long ar'd that area. . . of course this is JMHO!

thanks big guy, i didn't get any confirmation yet. that IS a bearish flag we're in right now. and a breach lower would mean showtime
  • #94,677
  • Jun 17, 2008 10:06am Jun 17, 2008 10:06am
i thought another chart would be useful, so let's go to a lower timeframe (7min ) to "dissect" this retracement. as you can see, it's almost done: it's getting weaker (40min stochastic is trying to become OB, histo macd shows a bearish divergence) and all we have to do is wait for a confirmation to open a short: break of the channel + macd cross.
that's pretty much it for now.
Attached Image (click to enlarge)
Click to Enlarge Name: gjm7.gif Size: 22 KB
Nihil Sine Deo.
  • #94,678
  • Jun 17, 2008 10:10am Jun 17, 2008 10:10am
Cable had trouble getting much past its 23.6% retrace and stalled at its June 6th low of 9536 - if this is all the retrace that it can make, then its weaker than I thought - good for the GJ short that I've just taken......
Trading Levels with WRBs
  • #94,679
  • Jun 17, 2008 10:12am Jun 17, 2008 10:12am
Quoting lilmoe
looking to long euro

m30 system setup
I'm in on that ride too! Let's see how it goes.

Lux
MT4 EA, Indicator and Alert Coder Since 2006
  • #94,680
  • Jun 17, 2008 10:13am Jun 17, 2008 10:13am
Quoting Islander
Nice, the retrace has finally started - anywhere into the DZ - 9557 to 9611 will be good....

issy, fwiw, my wife saw your chart and said, "hey, another saxophone".

i dunno, she's called the last 3 on the nose... she's got more pips than me!
FUBAR...
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