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

  • #121,421
  • Oct 11, 2008 1:27pm Oct 11, 2008 1:27pm
Quoting forexlion
help me draw the lower line correctly.

i want to draw it parallel to the upper one

drawn correctly, this would also mean we have reached the end of the tunnel
On dayly it looks the bottom for me as well as USD/JPY has completed a similar dayly descending broadening formation pattern and might start going up.
  • #121,422
  • Oct 11, 2008 1:42pm Oct 11, 2008 1:42pm
Man would I like to buy some gold this weekend!!!!

Attached Image (click to enlarge)
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Guess not.
  • #121,423
  • Oct 11, 2008 1:47pm Oct 11, 2008 1:47pm
Quoting markam
Man would I like to buy some gold this weekend!!!!

Attachment


Guess not.
just like that
  • #121,424
  • Oct 11, 2008 3:38pm Oct 11, 2008 3:38pm
Nice explanation. Thanks.


Quoting forexlion
Fibonacci series works as follows
0 0 1 2 3 5 8 13 21 34 55 89 144 233 377 610 987 1597 2584 4181

where each number is a sum of previous two numbers.

we had a daily trend reversal on daily charts at 197.41 on interbankfx server [this can be different on different brokers]

from 197.41 start substracting the fib numbers to get your target levels.

so now, unless and until we do not see a trend reversal on daily charts here this series remains valid.

following this we have already come down below the 2584 level and are headed towards the 4181 level at 155.60

this will be negated only and only if we see a trend reversal on daily.

i hope this answers your query.
Regards, Android.
  • #121,425
  • Oct 11, 2008 3:48pm Oct 11, 2008 3:48pm
Quoting forexlion
help me draw the lower line correctly.

i want to draw it parallel to the upper one

drawn correctly, this would also mean we have reached the end of the tunnel
...Use the trendline by angle tool to draw the top trendline. Then just hover over the trendline to get the angle in degrees. Then use the same trendline by angle tool to draw the bottom trendline, then doubleclick on it to access the properties and in parameters enter the same angle as the top trendline.
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  • #121,426
  • Oct 11, 2008 8:48pm Oct 11, 2008 8:48pm
Quoting forexlion
Fibonacci series works as follows
0 0 1 2 3 5 8 13 21 34 55 89 144 233 377 610 987 1597 2584 4181

where each number is a sum of previous two numbers.

we had a daily trend reversal on daily charts at 197.41 on interbankfx server [this can be different on different brokers]

from 197.41 start substracting the fib numbers to get your target levels.

so now, unless and until we do not see a trend reversal on daily charts here this series remains valid.

following this we have already come down below the 2584 level and are headed towards the 4181 level at 155.60

this will be negated only and only if we see a trend reversal on daily.

i hope this answers your query.
This is a very intriguing way of drawing fib levels.

A daily close above the daily 5-sma will suggest a trend reversal or at least consolidation. So far no day has closed above the daily 5-sma
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  • #121,427
  • Edited 9:54pm Oct 11, 2008 9:14pm | Edited 9:54pm
agree. in this case, i would wait for another possible bounce down from daily 5sma...
anyway, 30min chart suggests a correction is going on right now. 173/174 area... maybe even 177. then down again.

p.s. later edit: i wanted to put this 30min chart where i marked the hidden bullish divergence - a sign of trend continuation - that means, up. possible targets: 5sma daily (23.6 fib), 38.2 fibo... and then we'll see.

Quoting GodfreyH
This is a very intriguing way of drawing fib levels.

A daily close above the daily 5-sma will suggest a trend reversal or at least consolidation. So far no day has closed above the daily 5-sma
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Nihil Sine Deo.
  • #121,428
  • Oct 11, 2008 9:54pm Oct 11, 2008 9:54pm
For those that didn't see this movie..It is a must to see if you want to understand the government operation for control of the world.

2hr worth of informative things about the government.


http://video.google.com/videoplay?do...05277695921912

[
  • #121,429
  • Oct 11, 2008 10:01pm Oct 11, 2008 10:01pm
... yes... zeitgeist... although it is poorly designed as a documentary, it raises some valid questions.

Quoting rgitt05
For those that didn't see this movie..It is a must to see if you want to understand the government operation for control of the world.

2hr worth of informative things about the government.


http://video.google.com/videoplay?do...05277695921912

Nihil Sine Deo.
  • #121,430
  • Oct 11, 2008 10:06pm Oct 11, 2008 10:06pm
The banking SCAM....

http://video.google.com/videoplay?do...05894095&hl=en




Quoting Scrat
... yes... zeitgeist... although it is poorly designed as a documentary, it raises some valid questions.
[
  • #121,431
  • Oct 11, 2008 11:24pm Oct 11, 2008 11:24pm
and to add to the topic.... www.chrismartenson.com/crashcourse
  • #121,432
  • Oct 12, 2008 1:49am Oct 12, 2008 1:49am
Quoting GodfreyH
...Use the trendline by angle tool to draw the top trendline. Then just hover over the trendline to get the angle in degrees. Then use the same trendline by angle tool to draw the bottom trendline, then doubleclick on it to access the properties and in parameters enter the same angle as the top trendline.
thanks, this does confirm the fib series level of 4181 or 155.60 as reversal point for the whole show.

and if this does happen then in steps we could be going back to 254 levels by 2009 or 2010.

this also means that this week, monday or tuesday at most we should hit 155.60 and start reversing, but then it all depends on how monday opens.

pre-market GJ is already down to 170.20 taken from anchorfx site.
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  • #121,433
  • Oct 12, 2008 4:09am Oct 12, 2008 4:09am
Quoting forexlion
thanks, this does confirm the fib series level of 4181 or 155.60 as reversal point for the whole show.

and if this does happen then in steps we could be going back to 254 levels by 2009 or 2010.

this also means that this week, monday or tuesday at most we should hit 155.60 and start reversing, but then it all depends on how monday opens.

pre-market GJ is already down to 170.20 taken from anchorfx site.
IMO not yet.
March should be good for carries again.
Attached Image
  • #121,434
  • Oct 12, 2008 4:56am Oct 12, 2008 4:56am
Here is the Technical reason why it will reach 200 and above in the coming weeks. Now , I do not know how long you have been trading Forex. But Let me remind you something, You do not need the support of the fundamentals to get this pair to 200. Fundamentals only gives spikes. Fundamentals are like a fart without a smell. Only the noise. Technically the price points towards 200+. Atleast according to my charts. So.. Even if all the top 10 US banks file for bankruptcy within the next 24hrs, this will only spike down and next day it will retrace back to where it all started. Thats because usually the technical moves are much, much stronger than the fundamentals .[/quote]

Auslancos last post on the 23rd September post #116708

Are we still holding onto those longs?
  • #121,435
  • Oct 12, 2008 7:04am Oct 12, 2008 7:04am
They're at it again. Nasdaq, NYSE seeking 3 day ban on Short Sells.
  • #121,436
  • Oct 12, 2008 8:21am Oct 12, 2008 8:21am
no, we are not.
and never trade without a stop loss, no matter what others are saying.

Quoting travpip
Here is the Technical reason why it will reach 200 and above in the coming weeks. Now , I do not know how long you have been trading Forex. But Let me remind you something, You do not need the support of the fundamentals to get this pair to 200. Fundamentals only gives spikes. Fundamentals are like a fart without a smell. Only the noise. Technically the price points towards 200+. Atleast according to my charts. So.. Even if all the top 10 US banks file for bankruptcy within the next 24hrs, this will only spike down and next day it will retrace back to where it all started. Thats because usually the technical moves are much, much stronger than the fundamentals .

Auslancos last post on the 23rd September post #116708

Are we still holding onto those longs?
Nihil Sine Deo.
  • #121,437
  • Oct 12, 2008 8:46am Oct 12, 2008 8:46am
Quoting GodfreyH
...Use the trendline by angle tool to draw the top trendline. Then just hover over the trendline to get the angle in degrees. Then use the same trendline by angle tool to draw the bottom trendline, then doubleclick on it to access the properties and in parameters enter the same angle as the top trendline.

easier way to make duplicate TL or any property duplicate
draw TL dbl click hold down crtl button and left click center dot of desired dupilicate
"Millionaires don't use astrology, billionaires do"
  • #121,438
  • Oct 12, 2008 9:21am Oct 12, 2008 9:21am
GJ History repeat?
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  • #121,439
  • Oct 12, 2008 9:37am Oct 12, 2008 9:37am
i think it would be too easy, but... who knows, maybe.

Quoting mphpopular
GJ History repeat?
Nihil Sine Deo.
  • #121,440
  • Oct 12, 2008 10:07am Oct 12, 2008 10:07am
Quoting mphpopular
GJ History repeat?
I'll tell you one thing, if I would happen to see a bullish weekly bar at this low, I'd ride it to heaven and just collect the whole way up. Well, at least until a bearish weekly comes into play.
I dream, therefore I become.
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