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

  • #104,761
  • Jul 30, 2008 10:44am Jul 30, 2008 10:44am
Quoting sneaky_russian
If everyone becomes bullish now - who is going to stay on another side ?
you?
Trade what you see, not what you think.
  • #104,762
  • Jul 30, 2008 10:47am Jul 30, 2008 10:47am
Quoting vinesh2
Awesome thanks but how do you confirm whether a falg has formed? I can see the pole but how do confirm whether its a legitimate flag?
A flag moves inside a thin channel and in the opposite direction of a major move. What you should do is that when you see such formation, you should be careful of break outs. There are situations that you see similar patterns but the break out doesn't happen in the way it should; instead market moves the other way invalidating the flag but such situations are rare.

A flag is actually nothing except a retrace but in happens like a range mode market and inside a constant channel. Normally a flag retraces back to %38.2, %50 or maximum %61.8 fib level. Around those levels you should take care of break outs to enter long or short.

Discipline + Patience - Fear - Greed = Success
  • #104,763
  • Jul 30, 2008 10:50am Jul 30, 2008 10:50am
Quoting karmostaji
you?

I'm on the side until we get past the trend lines
  • #104,764
  • Jul 30, 2008 10:51am Jul 30, 2008 10:51am
U gotta be a seller in here imo

support already failed now its trying to save face
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"Millionaires don't use astrology, billionaires do"
  • #104,765
  • Jul 30, 2008 10:54am Jul 30, 2008 10:54am
Quoting PipLucky
I'm on the side until we get past the trend lines
Yep, the breakout is going to be explosive so wait till it chooses a direction and then ride it.
Trade what you see, not what you think.
  • #104,766
  • Jul 30, 2008 10:58am Jul 30, 2008 10:58am
Quoting karmostaji
Yep, the breakout is going to be explosive so wait till it chooses a direction and then ride it.

I'm just glad that I did not loos anything but time on my short trade, I think you gave a heads up to be careful and I moved my stop for safety, thanks Man, you're alright.
  • #104,767
  • Jul 30, 2008 11:02am Jul 30, 2008 11:02am
Guys and girls,

you do realise we have massive government intervention taking place right now in an open way (and this is intentional) to stop the decline int he stock markets and the bond markets

At the same way, intervention to lower the oil price and strengthen the dollar

I would bet (I already have, actually) towards this massive effort to DO succeed in propping up the markets for some weeks, indeed months

Unfortunately, this distortion should pave the way for a massive crash towards end of the year

The US government has just effectively NATIONALISED the US mortgage market. Soviet Union would be proud!

More to come, long live the free market...errr, scratch that, long live socialism!

Set your trades accordingly!
  • #104,768
  • Jul 30, 2008 11:03am Jul 30, 2008 11:03am
It seems that GJ will reach 214.6-7, which is close to daily R1 (214.58);
If it breaks formation, I rise tp till 215.25 (R2), but I think it's unlikely/
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  • #104,769
  • Jul 30, 2008 11:04am Jul 30, 2008 11:04am
Quoting OrionsWay
U gotta be a seller in here imo

support already failed now its trying to save face
dito!
on my 1h price bounced off of my smoothed 150ema above.
240 price bounced off of my smoothed 365ema above.
but on the daily a bullish pinbar could form. for a short we also have to consider 213.80 area on the daily as strong support. geppy really sits in an annoying position this week. i am mostly sitting on the sidelines this week which also makes money
  • #104,770
  • Jul 30, 2008 11:04am Jul 30, 2008 11:04am
Quoting pr0spero
Guys and girls,

you do realise we have massive government intervention taking place right now in an open way (and this is intentional) to stop the decline int he stock markets and the bond markets

At the same way, intervention to lower the oil price and strengthen the dollar

I would bet (I already have, actually) towards this massive effort to DO succeed in propping up the markets for some weeks, indeed months

Unfortunately, this distortion should pave the way for a massive crash towards end of the year

The US government has just effectively NATIONALISED the US mortgage market. Soviet Union would be proud!

More to come, long live the free market...errr, scratch that, long live socialism!

Set your trades accordingly!

bank and governmental intervention where the main reasons why markets have been recovering since the past 10-15 years i think. not to mention wars.
  • #104,771
  • Jul 30, 2008 11:05am Jul 30, 2008 11:05am
Quoting arezab
There is 2 types of flag. Bull flag happens after a bull run and bear flag happens after a bearish move. This pattern is a sign of continuation. On break out of upper side of a bull flag we can enter a long position and on break out of lower border of a bear flag we can enter a short position.

I prepared 2 pictures of each. I hope it is useful for you.
I don't know if I'm wrong but I always thought that flag is much shorter in time. After big move there is short-time consolidation area which moves in opposite direction. It exist in about half a move.
  • #104,772
  • Jul 30, 2008 11:06am Jul 30, 2008 11:06am
Quoting Dr.Geppynius
dito!
on my 1h price bounced off of my smoothed 150ema above.
240 price bounced off of my smoothed 365ema above.
but on the daily a bullish pinbar could form. for a short we also have to consider 213.80 area on the daily as strong support. geppy really sits in an annoying position this week.
hey there, whats up??

would like to add if u take a look at the daily, price bounced off 200sma.
  • #104,773
  • Jul 30, 2008 11:14am Jul 30, 2008 11:14am
Quoting lilmoe
hey there, whats up??

would like to add if u take a look at the daily, price bounced off 200sma.

hey bro
my smoothed ma 200 is not around the price area on the daily. i don't take the normal ma's into consideration but of course that's also another point.

forgot to mention that the possible daily pinbar exactly forms off of my 25 jma. imho there is no direction for me, because we have noisy factors in both directions which slow down the move. during this consolidation there have been much players sucked into the market.
  • #104,774
  • Jul 30, 2008 11:15am Jul 30, 2008 11:15am


to laugh no reson
  • #104,775
  • Jul 30, 2008 11:26am Jul 30, 2008 11:26am
price is trapped between the 25,150, upper channel tl above and the 365 below.
also the blue line represents an area of price action based on the daily/weekly and fib confluence, so strong support. this bullish ouside bar followed by a bullish bar (last) screams long...but we have seen the last days that there is not much happening in this area. i won't place a trade in geppy before market continues to show some valid breakout into one direction.
Attached Image
  • #104,776
  • Jul 30, 2008 11:30am Jul 30, 2008 11:30am
Quoting sneaky_russian
If everyone becomes bullish now - who is going to stay on another side ?
i think you search naiji http://qsmile.com/qsimages/58.gif http://qsmile.com/qsimages/58.gif
  • #104,777
  • Jul 30, 2008 11:32am Jul 30, 2008 11:32am
thanks arezab for your flag class.
  • #104,778
  • Jul 30, 2008 11:40am Jul 30, 2008 11:40am
attention: uj again is forming a bearish divergence on the daily, straight at the last highs + price pivot zone.
  • #104,779
  • Jul 30, 2008 11:44am Jul 30, 2008 11:44am
Whats going on with DOW giving up almost all of it gains for the day. Still a long way to go but yikesss! UJ shuold have some support from Daily and 4 hr SMA
  • #104,780
  • Jul 30, 2008 11:50am Jul 30, 2008 11:50am
usdcad is forming the second daily bearish pinbar in a row. lined up with price pivot. also my 25,60,150,365 smoothed ema's are 100 pips away in the south. preparing for bermuda confirmation.
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