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

  • #116,921
  • Sep 24, 2008 2:56am Sep 24, 2008 2:56am
Here is a good read about price movement..

I posted earlier on the board...I use the grid trading for these pairs..





Quoting mike w
Fundamental analysis play out in technical analysis. I'm going to read that now, thanks Rgitt! I love a good read from time to time.
Attached File(s)
File Type: pdf Forex Report - Predicting Price movement.pdf   642 KB | 577 downloads
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  • #116,922
  • Sep 24, 2008 2:57am Sep 24, 2008 2:57am
Anyone else favouring bulls?
Attached Image (click to enlarge)
Click to Enlarge Name: 20071218213459_bullrun.jpg Size: 518 KB
  • #116,923
  • Sep 24, 2008 3:00am Sep 24, 2008 3:00am
Is that a small flag or pennant what I see? :nerd:

oh noooouuu was an illussion!!
The market can stay irrational, longer than you can stay solvent.
  • #116,924
  • Sep 24, 2008 3:08am Sep 24, 2008 3:08am
Looking at the charts the pressure just seems to be up for now at least in short term.

We have strong resistance here but hopefully it will break.

The 199 - 201 level seems easily attainable, maybe today? Strong resistance level, 50% of the last move down and and off the weekly major up move.

We are also above the DP and the Weekly pivot, I have the Monthly pivot and the purple resistance line as my next target area.

Price action on the higher time frame looks bullish to me.

Just my view.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj 4h 2409082.gif Size: 23 KB
Click to Enlarge Name: gj daily 2409082.gif Size: 23 KB
Click to Enlarge Name: gj weekly 2409082.gif Size: 21 KB
Click to Enlarge Name: gj monthly 2409082.gif Size: 19 KB
  • #116,925
  • Sep 24, 2008 3:09am Sep 24, 2008 3:09am
Quoting belekas
Anyone else favouring bulls?
yes, my TP's are 198.60 (Daily 50ema) and then 200.15 (50%)
Trade what you see, not what you think.
  • #116,926
  • Sep 24, 2008 3:13am Sep 24, 2008 3:13am
First target is 200 range based on the 76.8% retracement and S/R area.

Be careful on the price action..There is still alot of speculation on the bailout deal...The charts are screaming long based on the technicals..Also, the central banks are pumping more money into the market..

Attached Image (click to enlarge)
Click to Enlarge Name: 4hr chart.gif Size: 52 KB
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  • #116,927
  • Sep 24, 2008 3:14am Sep 24, 2008 3:14am
Quoting karmostaji
yes, my TP's are 198.60 (Daily 50ema) and then 200.15 (50%)
Cheers Karmo Hows trading buddy?
  • #116,928
  • Sep 24, 2008 3:15am Sep 24, 2008 3:15am
Quoting belekas
Cheers Karmo Hows trading buddy?
Trading is good, was getting a bit bored with the consolidation though

How's trading with you bro?
Trade what you see, not what you think.
  • #116,929
  • Sep 24, 2008 3:18am Sep 24, 2008 3:18am
and at what price did you long?

Quoting karmostaji
yes, my TP's are 198.60 (Daily 50ema) and then 200.15 (50%)
  • #116,930
  • Sep 24, 2008 3:21am Sep 24, 2008 3:21am
Nice charts buddy. That MN chart sure makes sense. We might be only retesting that broken descending TL and up we go. Price is stuck in the ADR of yesterday, 197ish and broken 1hr descending TL right now. Not taking any position yet, waiting on 4hr close to have a little more clues about today. Looking at the weekly we might be going to test the weekly descending channels UTL, so im favouring the bulls in the bigger picture as well.

Quoting Wolf.
Looking at the charts the pressure just seems to be up for now at least in short term.

We have strong resistance here but hopefully it will break.

The 199 - 201 level seems easily attainable, maybe today? Strong resistance level, 50% of the last move down and and off the weekly major up move.

We are also above the DP and the Weekly pivot, I have the Monthly pivot and the purple resistance line as my next target area.

Price action on the higher time frame looks bullish to me.

Just my view.
  • #116,931
  • Sep 24, 2008 3:23am Sep 24, 2008 3:23am
Quoting karmostaji
Trading is good, was getting a bit bored with the consolidation though

How's trading with you bro?
Been on the sideline these days as price is not mooving. Everything looks dead lol. Just making my analysis, trying to find those precious diamond patterns if you know what i mean bro
  • #116,932
  • Sep 24, 2008 3:25am Sep 24, 2008 3:25am
Quoting Syhdnie
and at what price did you long?
at 197
Trade what you see, not what you think.
  • #116,933
  • Sep 24, 2008 3:28am Sep 24, 2008 3:28am
Quoting cohiba pips
where do you see support cheers

sorry man its not touch at all...that support...at 1.8477..but gbpusd..gose up and touching the 1st resisstant..i go short at 1.8602..and float with + 20..pips.hope that he or she will go in to my direction..pls pray for us...ameeen
  • #116,934
  • Sep 24, 2008 3:28am Sep 24, 2008 3:28am
same with me..mine @ 197.02

hope this beast become gryphon this time, so it can fly fly high..

Quoting karmostaji
at 197
  • #116,935
  • Edited 8:25am Sep 24, 2008 3:29am | Edited 8:25am
Quoting belekas
Nice charts buddy. That MN chart sure makes sense. We might be only retesting that broken descending TL and up we go. Price is stuck in the ADR of yesterday, 197ish and broken 1hr descending TL right now. Not taking any position yet, waiting on 4hr close to have a little more clues about today. Looking at the weekly we might be going to test the weekly descending channels UTL, so im favouring the bulls in the bigger picture as well.
Thanks Belekas....well I'm already long as as you can imagine bought the 123 t/l bounce between Frankfurt and London, a good safe trade in my view as EJ bounced off the DP and UJ found similar support at the same time.

Taken half off as it popped above the top of the range and will add if this breaks.
  • #116,936
  • Sep 24, 2008 3:32am Sep 24, 2008 3:32am
Quoting Syhdnie
same with me..mine @ 197.02

hope this beast become gryphon this time, so it can fly fly high..
my SL is in place, risking 1%

It's time for patience
Trade what you see, not what you think.
  • #116,937
  • Sep 24, 2008 3:33am Sep 24, 2008 3:33am
Quoting Wolf.
Thanks Belekas....well I'm already long as as you can imagine bought the 123 t/l bounce between Frankfurt and London, a good safe trade in my view as UJ bouced off the DP at the same time.

Taken half off as it popped above the top of the range and will add if this breaks.
Very nice. Even a few pips in this slow ass market is alright. Price is hovering around yesterdays ADR high right now. Lets see what 4hr close brings.
  • #116,938
  • Sep 24, 2008 3:52am Sep 24, 2008 3:52am
Quoting karmostaji
my SL is in place, risking 1%

It's time for patience
just and observation, if you open your 4H chart you will easily see a penant (the consolidations we were talking about) that was breached like an hour ago.

the thing is, considering only this formation (and not the rest of the TA) its all the move up it should go right? or how much up could it go??
The market can stay irrational, longer than you can stay solvent.
  • #116,939
  • Sep 24, 2008 3:55am Sep 24, 2008 3:55am
Quoting bmvmx
just and observation, if you open your 4H chart you will easily see a penant (the consolidations we were talking about) that was breached like an hour ago.

the thing is, considering only this formation (and not the rest of the TA) its all the move up it should go right? or how much up could it go??
the 2h QQE suggests of an up move as well, I'm targeting the Daily 50ema and then the 50% fibo (200.15)

I'll just sit and watch what happens, if I end up losing only 1%, that's no big deal
Trade what you see, not what you think.
  • #116,940
  • Sep 24, 2008 4:01am Sep 24, 2008 4:01am
Quoting karmostaji
the 2h QQE suggests of an up move as well, I'm targeting the Daily 50ema and then the 50% fibo (200.15)

I'll just sit and watch what happens, if I end up losing only 1%, that's no big deal
Ok, lets hold on tight well, no need to get scared.

Long at 196.94 I am leaving it as a carrytrade until I see reversal up there. tight SL.
The market can stay irrational, longer than you can stay solvent.
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