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

  • #102,421
  • Jul 21, 2008 6:28am Jul 21, 2008 6:28am
Quoting cancunkev
On that last push north the gap I had on my charts was closed almost to the pip.

I am looking for a rejection at the 213.95 level to go short and am currently long. I don't think we will see anything above 214 for today at least.
I can still see it go to 214.40 at least today and maybe turn around tuesday will be another opprtunity to go long on wednesday or maybe start of down trend...baby.....however if 214 breaks then i'm leaving my short entry @ 216
  • #102,422
  • Jul 21, 2008 6:31am Jul 21, 2008 6:31am
Quoting lilmoe
man just came back to see both my SLs hit, lol. not too bad, B/E so far, i'm glad i locked a bit of profit on GJ which took out the 25 pip loss on EJ.

anyway, i did mention that price was accelerating towards OS areas on lower TFs however, now it's accelerating even faster towards OB areas. this might range guys.

here's a chart for UJ 1h. earlier UJ breached a CCI trendline on the hourly level, but now it seems it's going for a retest. CCI TL in confluence with daily upper TL. this might be a bit hard to breach. there is also a visible bearish divergence marked with green TLs.

YM has also made a new high and another bearish divergence on the m30 chart, that is not confirmed yet.

Attached Image (click to enlarge)
Click to Enlarge Name: uj_1h.gif Size: 25 KB
  • #102,423
  • Jul 21, 2008 6:32am Jul 21, 2008 6:32am
Loving it, let's keep on watching

The chart doesn't lie, you just need to follow it.
Trade what you see, not what you think.
  • #102,424
  • Jul 21, 2008 6:36am Jul 21, 2008 6:36am
Quoting peaches
If I see pattern, I`ll post it here, but because of my
trading-rules I need the daily candles close before. I have been wrong often, because I donīt wait for daily close, and things develloped totaly different. But trading is not expecting something, itīs about to read signals which have already happend.

But I also "think" other yen-crosses are going down, but Iīll only trade it, if I got the signal.

happy trading all...
yeah, i mainly look at numbers at 214 i just want sell, and 208 i just want buy, when i start seeing numbers like 215, ill start buying there
  • #102,425
  • Jul 21, 2008 6:37am Jul 21, 2008 6:37am
Quoting dogberry
Hi, Karmo, what do you mean by "oversold levels"? I thought oversold means small values like 20 or 30. But on my chart the QQE of 1H is 50, QQE 30m is 32.47. Could you talk about it in a little bit more details?
Thanks a lot!
for the QQE oversold level is 30 and overbought is 70

sometimes price moves very little but the QQE moves much faster, that indicates to me that price is just retracing a bit before continuing in it's higher TF direction.
Trade what you see, not what you think.
  • #102,426
  • Jul 21, 2008 6:38am Jul 21, 2008 6:38am
Quoting lilmoe
man just came back to see both my SLs hit, lol. not too bad, B/E so far, i'm glad i locked a bit of profit on GJ which took out the 25 pip loss on EJ.

anyway, i did mention that price was accelerating towards OS areas on lower TFs however, now it's accelerating even faster towards OB areas. this might range guys.
hmm ok, i just had plans for short and i was littele bit surprised when i saw upupupup.. will wait another position for shorts...
  • #102,427
  • Jul 21, 2008 6:39am Jul 21, 2008 6:39am
Quoting lilmoe
here's a chart for UJ 1h. earlier UJ breached a CCI trendline on the hourly level, but now it seems it's going for a retest. CCI TL in confluence with daily upper TL. this might be a bit hard to breach. there is also a visible bearish divergence marked with green TLs.

YM has also made a new high and another bearish divergence on the m30 chart, that is not confirmed yet.

Attachment

just another note, when CCI or any other good oscillator runs towards OB or OS levels this usually indicates a hidden divergence which we did have on GJ. GJ has more room to go up. probably to 214.0x area before another reversal. CCI haven't touched the broken TL just yet.

Attached Image (click to enlarge)
Click to Enlarge Name: gj_1h_cci.gif Size: 17 KB
  • #102,428
  • Jul 21, 2008 6:41am Jul 21, 2008 6:41am
Price is trading above the Daily gann hilo, shorts should be scalps otherwise you might end up getting burnt.

Just trying to save some of you from losing, it's up to the trader to do what he/she thinks is best.
Trade what you see, not what you think.
  • #102,429
  • Jul 21, 2008 6:43am Jul 21, 2008 6:43am
Quoting Jerry
hmm ok, i just had plans for short and i was littele bit surprised when i saw upupupup.. will wait another position for shorts...
well, price is rising but daily momentum is still pointing down. i'm not sure if UJ is ready to breach that TL just yet. it could, but i'm watching. i also have an FE 100 level at 107.25. daily CCI haven't crossed the 0 line yet. might wait till tomorrow for longs. cuz i still think we might have another dip.
  • #102,430
  • Jul 21, 2008 6:47am Jul 21, 2008 6:47am
Quoting lilmoe
well, price is rising but daily momentum is still pointing down. i'm not sure if UJ is ready to breach that TL just yet. it could, but i'm watching. i also have an FE 100 level at 107.25. daily CCI haven't crossed the 0 line yet. might wait till tomorrow for longs. cuz i still think we might have another dip.
this 5th week EJ range between 169.8 - 166.5,, and with GJ, its range for many week too, why would this week be different
  • #102,431
  • Jul 21, 2008 6:49am Jul 21, 2008 6:49am
Quoting lilmoe
well, price is rising but daily momentum is still pointing down. i'm not sure if UJ is ready to breach that TL just yet. it could, but i'm watching. i also have an FE 100 level at 107.25. daily CCI haven't crossed the 0 line yet. might wait till tomorrow for longs. cuz i still think we might have another dip.
if we need to wait till tomorrow then we do it ...
  • #102,432
  • Jul 21, 2008 6:51am Jul 21, 2008 6:51am
Quoting Clouds
where you getting the daily TL at 168? [edit] oh , i see TL from last few days

sorry clouds, was out and just came back...

here's the TL i'm talking about on EJ's dailies, moms are still pointing down on that too, it seems we might still be heading for a dip...


Attached Image (click to enlarge)
Click to Enlarge Name: ej_daily.gif Size: 27 KB
  • #102,433
  • Jul 21, 2008 6:55am Jul 21, 2008 6:55am
Quoting lilmoe
well, price is rising but daily momentum is still pointing down. i'm not sure if UJ is ready to breach that TL just yet. it could, but i'm watching. i also have an FE 100 level at 107.25. daily CCI haven't crossed the 0 line yet. might wait till tomorrow for longs. cuz i still think we might have another dip.
my UJ M15 chart show me if we countinue to rise we can jump to 107.60 - 70 today, but i'm not sure we ll do it we are overbourgh little bit now.. lets wait and see everything is possible..
  • #102,434
  • Jul 21, 2008 6:57am Jul 21, 2008 6:57am
Quoting Clouds
this 5th week EJ range between 169.8 - 166.5,, and with GJ, its range for many week too, why would this week be different
i never said this week should be different. in the matter of fact, i said there's a high possibility for another range for this week. and i also said we might be having another false breakout downwards. but the bias is still bullish, haven't changed that for more than 4 weeks now. we are STILL in range.

by the way, oil dailies are shoing highly oversold state. price has went up 3 dollars so far since market open. oil might range too at this price (123-133) for some time also, but my charts say it should resume its way down.

although oil was going up, YM was still going up too... weird. oil has more room up and i think we might hit 133-135 today. let's see what kind of impact it will have on YM and therefore GJ. GJ has been in more than 70% sync with YM/DJ lately.
  • #102,435
  • Jul 21, 2008 6:57am Jul 21, 2008 6:57am
Quoting lilmoe
sorry clouds, was out and just came back...

here's the TL i'm talking about on EJ's dailies, moms are still pointing down on that too, it seems we might still be heading for a dip...


Attachment
i hope so, im pissed at EJ
  • #102,436
  • Jul 21, 2008 6:59am Jul 21, 2008 6:59am
Quoting lilmoe
i never said this week should be different. in the matter of fact, i said there's a high possibility for another range for this week. and i also said we might be having another false breakout downwards. but the bias is still bullish, haven't changed that for more than 4 weeks now. we are STILL in range.

by the way, oil dailies are shoing highly oversold state. price has went up 3 dollars so far since market open. oil might range too at this price (123-133) for some time also, but my charts say it should resume its way down.

although oil was going up, YM was still going up too... weird. oil has more room up and i think we might hit 133-135 today. let's see what kind of impact it will have on YM and therefore GJ. GJ has been in more than 70% sync with YM/DJ lately.
GJ is moving much more than EJ, I also see a possible triple top with GJ at 213.80
  • #102,437
  • Jul 21, 2008 7:00am Jul 21, 2008 7:00am
Quoting Clouds
i hope so, im pissed at EJ

same here but i still didn't give up
  • #102,438
  • Jul 21, 2008 7:04am Jul 21, 2008 7:04am
Quoting msniper
same here but i still didn't give up
man, i would cut my losses if i were u, this could go either way. yes there is a bearish divergence, but hell, this might go up more before that manifests.
  • #102,439
  • Jul 21, 2008 7:06am Jul 21, 2008 7:06am
Quoting lilmoe
man, i would cut my losses if i were u, this could go either way. yes there is a bearish divergence, but hell, this might go up more before that manifests.
no problems i have enough margin
  • #102,440
  • Jul 21, 2008 7:06am Jul 21, 2008 7:06am
Quoting lilmoe
man, i would cut my losses if i were u, this could go either way. yes there is a bearish divergence, but hell, this might go up more before that manifests.
EJ should go down, but I got out of EJ so i could short GJ heh
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