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

  • #124,921
  • Oct 22, 2008 12:30pm Oct 22, 2008 12:30pm
Possible floor? This Major pitchfork has been respected a number of times accurately and has described the incredible fall in GJ remarkably well. When I drew this fork I dismissed it even reaching the median line as it was so steep, and now we're at this lower level. There is also some horizontal support going back to 2000 which adds confluence. I'm not recommending going long solely upon this basis or trying to catch this knife/nuclear bomb but if price action shapes up then it is something to consider. This capitulation can not go on forever.
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  • #124,922
  • Oct 22, 2008 12:31pm Oct 22, 2008 12:31pm
Quoting forexlion
we do have a double bottom formation here

lol
  • #124,923
  • Oct 22, 2008 12:32pm Oct 22, 2008 12:32pm
Quoting forexlion
we do have a double bottom formation here
My chart and QQE's say DOWN, and they don't lie to me.
Trade what you see, not what you think.
  • #124,924
  • Oct 22, 2008 12:33pm Oct 22, 2008 12:33pm
Quoting karmostaji
stop picking bottoms before your galaxy explodes brotha lol
i think he was looking at this

4 hour 1 and 2 = exhaustion candles / dojis showing market exhaustion
3 = test bar .... they sre seeing what sellers are still out there

if this candle closes on low volume could be indication that sellers have exhausted themselves... would be nice to see a low volume low spread day

the professional money is likely waiting on a test of the market bottom in 159 zone.

I know when day trading on very impulsive moves I like to short tops or go long on impulsive moves down . The last 2 days look very impulsive to me and I think tomorrow we may see low range day / reversal.

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  • #124,925
  • Oct 22, 2008 12:36pm Oct 22, 2008 12:36pm
short @ 159.93

Let's have a party like yesterday......
  • #124,926
  • Oct 22, 2008 12:37pm Oct 22, 2008 12:37pm
15m QQE crossed up but price remained below it, indication of bearish continuation.

I'm just saying what my chart is showing.

Soros will join us on board shortly
Trade what you see, not what you think.
  • #124,927
  • Oct 22, 2008 12:38pm Oct 22, 2008 12:38pm
Quoting malcolmb14
i think he was looking at this

4 hour 1 and 2 = exhaustion candles / dojis showing market exhaustion
3 = test bar .... they sre seeing what sellers are still out there

if this candle closes on low volume could be indication that sellers have exhausted themselves... would be nice to see a low volume low spread day

the professional money is likely waiting on a test of the market bottom in 159 zone.

I know when day trading on very impulsive moves I like to short tops or go long on impulsive moves down . The last 2 days look very impulsive to me and I think tomorrow we may see low range day / reversal.

Attachment
rightly said

anybody shorting this zone will be in for serious trouble.
  • #124,928
  • Oct 22, 2008 12:39pm Oct 22, 2008 12:39pm
Quoting OrionsWay
Its under average for me here, looks like bullish run in the makings


maybe a glimmer of hope through support angle, traded above it then found support on decline of it with buying at it. Maybe just maybe LOL

I guess my chart look a little different form you ... am hoping to close this on 159.50 .. that s5 level i have there , that is another 120 pips for today ... just playing this thing up and down whole morning

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  • #124,929
  • Oct 22, 2008 12:40pm Oct 22, 2008 12:40pm
Quoting forexlion
rightly said

anybody shorting this zone will be in for serious trouble.
Maybe somebody wants to save this post, Orions said something similar yesterday and we tanked 1000 pips lol
Trade what you see, not what you think.
  • #124,930
  • Oct 22, 2008 12:44pm Oct 22, 2008 12:44pm
Quoting karmostaji
Maybe somebody wants to save this post, Orions said something similar yesterday and we tanked 1000 pips lol
save this post, because this is the chart.

short here and simply wipe off,

yes, but if you short on a small retrace up first then that is better than entering here
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  • #124,931
  • Oct 22, 2008 12:44pm Oct 22, 2008 12:44pm
Quoting karmostaji
Maybe somebody wants to save this post, Orions said something similar yesterday and we tanked 1000 pips lol
and yesterday I said, if the beast has taken pivot support 2,
it will take pivot support 3. Just patience.
  • #124,932
  • Oct 22, 2008 12:44pm Oct 22, 2008 12:44pm
Quoting karmostaji
stop picking bottoms before your galaxy explodes brotha lol
bro, if u're not interested in those 100 - 200 pip longs, i know i am. and for the last time I AM SHORT, looooool... and here's for the record, i have 12 standard lots short STILL open all the way from 175 still. stops are at 166.50

i don't ONLY go for long scalps, also shorts, and i did get that short when m15 gann crossed down, lol.

if i was ONLY short all the time i would've NOT made what i made today. going up and down while still waiting on my swings is my thing

my order window looks like a spider web, lots of shorts and longs from different positions, always 1/2 or 1/3 profit taken and the rest at BE....

tell me, what's wrong with having over 500 extra pips because i went long? if u don't want them fine, i do.

this is the BEST strategy i've ever seen. look at it this way, if one of those longs i made with b/e sl proves to be the bottom, wouldn't that make me one of a very few who actually went long at the very bottom, and added after confirmation??? if not, then the hell with it, i'm still wearing my shorts!!!!

i call this 3rd generation hedging. i believe u know the code name
  • #124,933
  • Oct 22, 2008 12:45pm Oct 22, 2008 12:45pm
Quoting karmostaji
Maybe somebody wants to save this post, Orions said something similar yesterday and we tanked 1000 pips lol

lol .. I will save it ....

and then give him medal when he is right lol ....

I would not be establishing new swing trade short at this level. that is what fl is saying
Blogging daily now at www.volume.zone
  • #124,934
  • Oct 22, 2008 12:47pm Oct 22, 2008 12:47pm
Quoting karmostaji
My chart and QQE's say DOWN, and they don't lie to me.
You've made people in here millions of pips .. and still they doubt you .. must be tough ...
oh, wait .. I forgot, you are so busy counting your money you probably don't have time to think about it
  • #124,935
  • Oct 22, 2008 12:48pm Oct 22, 2008 12:48pm
I'll read that long post later lilmoe, eyes are tired n brain is about toasted lol
Trade what you see, not what you think.
  • #124,936
  • Oct 22, 2008 12:54pm Oct 22, 2008 12:54pm
Quoting malcolmb14
you get a 100 pip on a retracement be happy and take it ... or take half off at 50 pip and set sl to break even other half . Eventually this thing will retrace but nt while the gu is getting the snot beat out of it.


I am enjoying trading both sides of the market in day trades , but short seem to be winning right now....
Thanks malcolmb you are right
  • #124,937
  • Oct 22, 2008 12:55pm Oct 22, 2008 12:55pm
Anybody else having problems with MB platform today?
  • #124,938
  • Oct 22, 2008 12:57pm Oct 22, 2008 12:57pm
Quote
You've made people in here millions of pips .. and still they doubt you .. must be tough ...
oh, wait .. I forgot, you are so busy counting your money you probably don't have time to think about it

I think they might need something like "patience pills"..
  • #124,939
  • Oct 22, 2008 12:58pm Oct 22, 2008 12:58pm
Quoting TraderStar
You've made people in here millions of pips .. and still they doubt you .. must be tough ...
oh, wait .. I forgot, you are so busy counting your money you probably don't have time to think about it
not doubting ....and for this to go down more we should have a nice 200 - 400 pip flag .... who does not want to take advantage of that

markets can be exhausted ... i have been trading long and short side all day ... and did all the asain session and part of UK session ....

the daily charts look tired ..... sellers can exhaust and that is what an experienced trader will understand and take advantage of .

on a 5min chart right now they are testing the market to see what sellers are left .. they may try spiking the price down to hunt for a few stops and lure the remaining bears in ( and judging by this forum there are a ton of them still waiting ro run into the market) .....I hope that happens as i will be going long on the spike down... once traders are locked into a short under this price they will ramp her up
Blogging daily now at www.volume.zone
  • #124,940
  • Oct 22, 2008 12:58pm Oct 22, 2008 12:58pm
Quoting gadawg
Anybody else having problems with MB platform today?
froze up a couple times on me this afternoon. shut it down and opened it back up and it worked finr
by Thich Nhat Hanh "Smile, breathe and go slowly."
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