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

  • #106,781
  • Aug 13, 2008 1:53am Aug 13, 2008 1:53am
Quoting Macedonia
Just wandering how valid this 4h pin bar is. all that might have hapen is that traders took there profits off the table pryor to close of that 4h candle and re asses the situation. once they come down from there high i think comon sence will tell them that its crazy to long during this time and there for would look at entering shorts again. i know PA and candle formation is inportant but on this ocation, comon sence rules.

well, the thing that i have learnt abt trading over the past 3 yrs is to just follow the charts and not common sense....forget news, forget common sense...the price will go where it wants to go....so, just follow the charts..i might be wrong with this pin bar but this is just a lesson for me...

this 4H bar has bounced off a good support and so, for me, its valid...might be right ...might be wrong as well...

if common sense were to rule these markets, then trading would be so very easy...
  • #106,782
  • Aug 13, 2008 2:12am Aug 13, 2008 2:12am
Quoting ns_karthik77
well, the thing that i have learnt abt trading over the past 3 yrs is to just follow the charts and not common sense....forget news, forget common sense...the price will go where it wants to go....so, just follow the charts..i might be wrong with this pin bar but this is just a lesson for me...

this 4H bar has bounced off a good support and so, for me, its valid...might be right ...might be wrong as well...

if common sense were to rule these markets, then trading would be so very easy...
Well i did not say use common sense only. ofcourse follow your charts, but charts can lead us astray and then we complain things don't make sense, my chart shows this and that. if charts and indicators (mind you i think a candle formation is just another indicator) were to rule these markets, then trading will not exist because every man and his dog will win. lets just say you need both charts and comon sense and cant use one only. anyway good luck man, 50/50 chance you can be corect. my intentions was not to corect you just a opinion i wanted to share and i am not always right.
  • #106,783
  • Aug 13, 2008 2:21am Aug 13, 2008 2:21am
Its anyone holding any longs? I havent sleept all night, starting to see strage things on the screen.

The market can stay irrational, longer than you can stay solvent.
  • #106,784
  • Aug 13, 2008 2:28am Aug 13, 2008 2:28am
Quoting Eulogy
How can you even think Gold correlates positively with GBP???????
GJ has shown an increasingly intense correlation to gold prices since 2000
  • #106,785
  • Aug 13, 2008 2:49am Aug 13, 2008 2:49am
Quoting lilmoe
did u chose the color yet?
we might get a 50% retracement if hourly candle closes above 1h gann hilo

It's been a lovely week
Trade what you see, not what you think.
  • #106,786
  • Aug 13, 2008 2:50am Aug 13, 2008 2:50am
im going long g/j who's with me!
  • #106,787
  • Aug 13, 2008 2:51am Aug 13, 2008 2:51am
Quoting karmostaji
we might get a 50% retracement if hourly candle closes above 1h gann hilo

It's been a lovely week
What is the gann level?
History is written by the victors.
  • #106,788
  • Aug 13, 2008 2:51am Aug 13, 2008 2:51am
Quoting Macedonia
Well i did not say use common sense only. ofcourse follow your charts, but charts can lead us astray and then we complain things don't make sense, my chart shows this and that. if charts and indicators (mind you i think a candle formation is just another indicator) were to rule these markets, then trading will not exist because every man and his dog will win. lets just say you need both charts and comon sense and cant use one only. anyway good luck man, 50/50 chance you can be corect. my intentions was not to corect you just a opinion i wanted to share and i am not always right.
point taken mate...cheers...
  • #106,789
  • Aug 13, 2008 2:52am Aug 13, 2008 2:52am
Quoting Money-RX
What is the gann level?
206.80
Trade what you see, not what you think.
  • #106,790
  • Aug 13, 2008 2:55am Aug 13, 2008 2:55am
Quoting karmostaji
we might get a 50% retracement if hourly candle closes above 1h gann hilo

It's been a lovely week

karmo.. what is your 50% price ?
  • #106,791
  • Aug 13, 2008 2:57am Aug 13, 2008 2:57am
Quoting lilmoe
ok, after getting stopped out a couple of times on cable longs, i think this is it. we have reached the bottom for cable short/mid term. 161.8 extension, lots of dojis/rejection, and CCI TL broken.

this time i'm going to wait for my system's confirmation; a close above DP and i'm LONG.

targets are: 1.9200 and 1.9350.
Be careful (can't let you lose my ride ), I'm waiting for confirmation over 50 ma, this may revere here.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 34 KB
  • #106,792
  • Aug 13, 2008 3:06am Aug 13, 2008 3:06am
Quoting Devilc0de
karmo.. what is your 50% price ?
209.57
Trade what you see, not what you think.
  • #106,793
  • Aug 13, 2008 3:37am Aug 13, 2008 3:37am
Quoting karmostaji
we might get a 50% retracement if hourly candle closes above 1h gann hilo

It's been a lovely week
i was thinking the same thing...i already locked lots of profit at 205.50 and will close most of my positions if we close above 1h gann. but i'm just not comfortable going long yet...
  • #106,794
  • Aug 13, 2008 3:39am Aug 13, 2008 3:39am
Quoting GodfreyH
Be careful (can't let you lose my ride ), I'm waiting for confirmation over 50 ma, this may revere here.

don't worry bro, i'm using my system on the 1h TF for cable at the moment, price didn't even close above DP so far..
  • #106,795
  • Aug 13, 2008 3:55am Aug 13, 2008 3:55am
Quoting lilmoe
don't worry bro, i'm using my system on the 1h TF for cable at the moment, price didn't even close above DP so far..

WOW, what a RUN,

I told you.. have a faith in GY LOL///

BTW, if this run is the first wave down.. hmm.. wonder.. where is the target then.. @ wave 5 ???

P.S. The main thing (benefit) is that SHE is ALIVE.. SHe is ALIVE.. up or down.. doesn''t matter..


BB in 2-3H..
  • #106,796
  • Aug 13, 2008 3:56am Aug 13, 2008 3:56am
wah wah!!

What was the reason for that fall??

I haven't looked at g/j since last two days..shocked looking the price at 205
  • #106,797
  • Aug 13, 2008 3:58am Aug 13, 2008 3:58am
Quoting lilmoe
yep, still using it
so, is it round one for me yet !! :-)
  • #106,798
  • Aug 13, 2008 4:00am Aug 13, 2008 4:00am
Quoting lilmoe
i was thinking the same thing...i already locked lots of profit at 205.50 and will close most of my positions if we close above 1h gann. but i'm just not comfortable going long yet...
closing most of my shorts. i have a 1h gann cross, a doji and a hammer on 4h
  • #106,799
  • Aug 13, 2008 4:01am Aug 13, 2008 4:01am
lilmoe, are you using the stock CCI in metatrader?

Setting mine @ 30 does not look even close to yours
  • #106,800
  • Aug 13, 2008 4:02am Aug 13, 2008 4:02am
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