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

  • #116,441
  • Sep 22, 2008 7:40am Sep 22, 2008 7:40am
All the weekly momentums for cable are pointed down and I believe a retrace to the weekly 5-sma close (magenta lineon left chart) is in order. The confluence of the daily 50 ema / 38.2 fib was the entry point for the sell and we have a date at the trend line at the bottom which squares nicely with the weekly sma close. I will of course secure profits as the trade develops, one never knows what lurks around the corner.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 56 KB
  • #116,442
  • Sep 22, 2008 7:43am Sep 22, 2008 7:43am
1.8400 is a good S/R level for GU
Trade what you see, not what you think.
  • #116,443
  • Sep 22, 2008 8:01am Sep 22, 2008 8:01am
Quoting karmostaji
1.8400 is a good S/R level for GU
, strong 1 hr gann bounce.
  • #116,444
  • Sep 22, 2008 8:03am Sep 22, 2008 8:03am
Quoting karmostaji
1.8400 is a good S/R level for GU
buy signal for gbpjpy is confirmed?
I recommend you read something else as this sentence is now concluded.
  • #116,445
  • Sep 22, 2008 8:04am Sep 22, 2008 8:04am
Quoting Obaidah
buy signal for gbpjpy is confirmed?
yes, trade at your own risk.
Trade what you see, not what you think.
  • #116,446
  • Sep 22, 2008 8:05am Sep 22, 2008 8:05am
Let's if GJ can break and close above 197, otherwise it will be nice bouble top
Do not follow my trades. Trade what you see on your own charts.
  • #116,447
  • Sep 22, 2008 8:07am Sep 22, 2008 8:07am
Today will be a day of traps
"Millionaires don't use astrology, billionaires do"
  • #116,448
  • Sep 22, 2008 8:08am Sep 22, 2008 8:08am
Quoting igmak
Let's if GJ can break and close above 197, otherwise it will be nice bouble top
It is already more than double top, depending on what time frame you look at ..
  • #116,449
  • Sep 22, 2008 8:10am Sep 22, 2008 8:10am
Quoting karmostaji
yes, trade at your own risk.
my first target is 200 but not sure about it, what do you think?
I recommend you read something else as this sentence is now concluded.
  • #116,450
  • Sep 22, 2008 8:10am Sep 22, 2008 8:10am
Quoting OrionsWay
Today will be a day of traps

Please elaborate I see a triple top at 197, can it break it?
  • #116,451
  • Sep 22, 2008 8:11am Sep 22, 2008 8:11am
Quoting Obaidah
my first target is 200 but not sure about it, what do you think?
197, 199, 200 are my targets
Trade what you see, not what you think.
  • #116,452
  • Sep 22, 2008 8:12am Sep 22, 2008 8:12am
Quoting mktjong
It is already more than double top, depending on what time frame you look at ..
1hr TF
Do not follow my trades. Trade what you see on your own charts.
  • #116,453
  • Sep 22, 2008 8:15am Sep 22, 2008 8:15am
Quoting igmak
1hr TF
Bearish div from 1hr down ..
  • #116,454
  • Sep 22, 2008 8:16am Sep 22, 2008 8:16am
Quoting seesaw
Please elaborate I see a triple top at 197, can it break it?

sundays and mondays are emotional days in the markets, push and pull is still pushing, the players arent playing today, i suspect the may cause small selling rally and if still bullish buy the lo's, if momentum picks up on the down stroke could be seeing the lo's again

distribution phases suck
"Millionaires don't use astrology, billionaires do"
  • #116,455
  • Sep 22, 2008 8:21am Sep 22, 2008 8:21am
Quoting mktjong
Bearish div from 1hr down ..
Shorted @196.89, if the price still stays at this level or higher in the next hour, my short will be in trouble
  • #116,456
  • Sep 22, 2008 8:22am Sep 22, 2008 8:22am
My trade may not be ripe yet, moving stop loss to +10, looks like it might break the trend line on this 5 min chart.
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  • #116,457
  • Sep 22, 2008 8:44am Sep 22, 2008 8:44am
Quoting mktjong
Shorted @196.89, if the price still stays at this level or higher in the next hour, my short will be in trouble
Closed @196.41 ..
Ok guys .. be back later ..
  • #116,458
  • Sep 22, 2008 9:24am Sep 22, 2008 9:24am
Quoting Obaidah
my first target is 200 but not sure about it, what do you think?
when u get a buy signal near a strong S/R level, wait for price to close above that level with at least a 1h candle. price bounced 300 pips from 197 so wait for price close above that level.

i see a very good bearish divergence on 1h and i took that short at 196.90. and i JUST added some shorts at 196.16

it's like orion said, today's market might be a bit risky.
  • #116,459
  • Sep 22, 2008 9:27am Sep 22, 2008 9:27am
Quoting lilmoe
when u get a buy signal near a strong S/R level, wait for price to close above that level with at least a 1h candle. price bounced 300 pips from 197 so wait for price close above that level.

i see a very good bearish divergence on 1h and i took that short at 196.90. and i JUST added some shorts at 196.16

it's like orion said, today's market might be a bit risky.
i noticed so, i didnt take that trade
I recommend you read something else as this sentence is now concluded.
  • #116,460
  • Sep 22, 2008 9:29am Sep 22, 2008 9:29am
Quoting Obaidah
i noticed so, i didnt take that trade
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