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

  • #101,301
  • Jul 16, 2008 7:01am Jul 16, 2008 7:01am
We also have a bullish harmonic pattern on GJ Daily chart, just mentioning that's all
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 26 KB
Trade what you see, not what you think.
  • #101,302
  • Jul 16, 2008 7:19am Jul 16, 2008 7:19am
Quoting lilmoe
target?
are you short on euro mate? i see on 1hr tf that H&S neckline was already broken we have a close below but price still doest want to come down.
  • #101,303
  • Jul 16, 2008 7:19am Jul 16, 2008 7:19am
i'm thinking 1.62-63 before another significant correction or reversal.

Quoting Clouds
No. It's time for a reversal to 1.44.
Nihil Sine Deo.
  • #101,304
  • Jul 16, 2008 7:33am Jul 16, 2008 7:33am
Quoting belekas
are you short on euro mate? i see on 1hr tf that H&S neckline was already broken we have a close below but price still doest want to come down.
It's going down all week long baby
  • #101,305
  • Jul 16, 2008 7:43am Jul 16, 2008 7:43am
Quoting Clouds
No. It's time for a reversal to 1.44.
not now, i'm currently long at 1.5844 target is 1.6092
  • #101,306
  • Jul 16, 2008 7:44am Jul 16, 2008 7:44am
Quoting belekas
are you short on euro mate? i see on 1hr tf that H&S neckline was already broken we have a close below but price still doest want to come down.
nope, neckline not broken yet. i'm long at 1.5844, will add more at 1.5794 if we get there.
  • #101,307
  • Jul 16, 2008 7:44am Jul 16, 2008 7:44am
Quoting lilmoe
not now, i'm currently long at 1.5844 target is 1.6092
Really???
  • #101,308
  • Jul 16, 2008 7:45am Jul 16, 2008 7:45am
GJ longs are starting to look sweet
Trade what you see, not what you think.
  • #101,309
  • Jul 16, 2008 7:47am Jul 16, 2008 7:47am
Quoting karmostaji
GJ longs are starting to look sweet
long from 208.20 whats a good target? alreadt hit 50% fib from yesterdays fall.?
by Thich Nhat Hanh "Smile, breathe and go slowly."
  • #101,310
  • Jul 16, 2008 7:48am Jul 16, 2008 7:48am
Quoting Farmboy
long from 208.20 whats a good target? alreadt hit 50% fib from yesterdays fall.?
209.50 looks like good resistance
by Thich Nhat Hanh "Smile, breathe and go slowly."
  • #101,311
  • Jul 16, 2008 7:48am Jul 16, 2008 7:48am
Quoting Küster
Really???
yep, had a buy limit order since yesterday, just took through
  • #101,312
  • Jul 16, 2008 7:50am Jul 16, 2008 7:50am
i went for a short on GJ at 209.20
  • #101,313
  • Jul 16, 2008 7:51am Jul 16, 2008 7:51am
GM guys.
  • #101,314
  • Jul 16, 2008 7:53am Jul 16, 2008 7:53am
Quoting lilmoe
not now, i'm currently long at 1.5844 target is 1.6092
Sorry bro, my chart look good for short EU and long GJ.

I'm short EU @ 1.5940 and Long GJ 208.30
  • #101,315
  • Jul 16, 2008 7:55am Jul 16, 2008 7:55am
Quoting PandoraBox
Sorry bro, my chart look good for short EU and long GJ.

I'm short EU @ 1.5940 and Long GJ 208.30
out at 209.50
by Thich Nhat Hanh "Smile, breathe and go slowly."
  • #101,316
  • Jul 16, 2008 7:58am Jul 16, 2008 7:58am
Quoting karmostaji
you are right but look at it from a higher TF view, daily QQE was exhausted and price consolidated while QQE got itself out of overbought and touched 50 line, if the daily QQE crosses back up then it will be much stronger than last time and it will definitely pass 213 area.

On the other hand if we get a weekly close below weekly gann hilo then we will definitely test the lows again.
Okay, I get it I think. The Daily QQE close to the 50 gives potential for an good long move either way, but the fact that price has been consolidating while it's been catching its breath and coming down from overbought levels means it may well be ready to push on up again. Although we can't say that with certainty yet.

And if the daily QQE pushes price to test a high and then comes back to the 50 to gather strength before heading up again, then there's more likelihood of the high being broken next time it hits that level.

That coupled with the potential pin bar shows a promising although as yet unconfirmed outlook for longs.

It's also interesting that the daily QQE hasn't been below 45 since March so this is still very much an uptrend on that TF (and potentially a retracement from the downtrend on the weekly)

That said, if the sellers manage to pull the price down far enough, we could be retesting the lows again.

I think that's what you're saying. Makes sense. Thanks.
  • #101,317
  • Jul 16, 2008 8:03am Jul 16, 2008 8:03am
Quoting TiaForex
Okay, I get it I think. The Daily QQE close to the 50 gives potential for an good long move either way, but the fact that price has been consolidating while it's been catching its breath and coming down from overbought levels means it may well be ready to push on up again. Although we can't say that with certainty yet.

And if the daily QQE pushes price to test a high and then comes back to the 50 to gather strength before heading up again, then there's more likelihood of the high being broken next time it hits that level.

That coupled with the potential pin bar shows a promising although as yet unconfirmed outlook for longs.

It's also interesting that the daily QQE hasn't been below 45 since March so this is still very much an uptrend on that TF (and potentially a retracement from the downtrend on the weekly)

That said, if the sellers manage to pull the price down far enough, we could be retesting the lows again.

I think that's what you're saying. Makes sense. Thanks.
Exactly, you're welcome
Trade what you see, not what you think.
  • #101,318
  • Jul 16, 2008 8:04am Jul 16, 2008 8:04am
Quoting PandoraBox
Sorry bro, my chart look good for short EU and long GJ.

I'm short EU @ 1.5940 and Long GJ 208.30
it's all good big guy
  • #101,319
  • Jul 16, 2008 8:06am Jul 16, 2008 8:06am
ya all
dear all
  • #101,320
  • Jul 16, 2008 8:07am Jul 16, 2008 8:07am
Im holding my shorts on EU, the neckline was indeed broken with that 1hr candle ive mentioned before only took sometime to fall hehe but patience pays off. position up 45 points, stop mooved to b/e
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