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

  • #125,281
  • Oct 23, 2008 5:43am Oct 23, 2008 5:43am
Quoting Obaidah
yoyo bro! hows it going today? .. i was observing m5 and m1 charts, HD on m5 and what surprises me that m1 50ema held! thats where im short with tight S/l, i'll move it to B/E in a bit, it really works like a charm !!
great bro, scalping the shit out of it

i'm glad things are working out for ya
  • #125,282
  • Oct 23, 2008 5:45am Oct 23, 2008 5:45am
Quoting lilmoe
great bro, scalping the shit out of it

i'm glad things are working out for ya
3ala rasi ya bro, i do owe you!
I recommend you read something else as this sentence is now concluded.
  • #125,283
  • Oct 23, 2008 5:45am Oct 23, 2008 5:45am
If this bull flag breaks to the down side , we will see yesterday's low or may be lower low ...
Attached Image
Discipline + Patience - Fear - Greed = Success
  • #125,284
  • Oct 23, 2008 5:47am Oct 23, 2008 5:47am
Quoting Obaidah
3ala rasi ya bro, i do owe you!
hala ya man
  • #125,285
  • Oct 23, 2008 5:50am Oct 23, 2008 5:50am
Quoting arezab
If this bull flag breaks to the down side , we will see yesterday's low or may be lower low ...
i agree, but price is still pulling back above the lower TL, we might need a firmer close below.

as long as the lower TL holds, we might see the upper TL.... really good scalping opportunities
  • #125,286
  • Oct 23, 2008 5:54am Oct 23, 2008 5:54am
I think, we have seen daily high with 160.651, and won´t see it again.

Price is now going below 1 h gann, which always is not easy. We need patience for this.

If the bulls are able to take control, we will see on current 4 h maximum a doji or hanging man. In that case, beginning US session will be bearish again.
  • #125,287
  • Oct 23, 2008 5:58am Oct 23, 2008 5:58am
Quoting peaches
I think, we have seen daily high with 160.651, and won´t see it again.

Price is now going below 1 h gann, which always is not easy. We need patience for this.

If the bulls are able to take control, we will see on current 4 h maximum a doji or hanging man. In that case, beginning US session will be bearish again.
i agree and dont agree at the same time.

we don't need a doji or a hanging man to end a bearish move. we could see either a rejection pattern or price just heading back up without a pattern at all. those pattern indicate reversal, but reversal DOESNT need a pattern to start.

no disrespect at all
  • #125,288
  • Oct 23, 2008 6:01am Oct 23, 2008 6:01am
Gold's at 705.. seems like boys are shifting assets from the usual suspects to dollars.
  • #125,289
  • Oct 23, 2008 6:02am Oct 23, 2008 6:02am
here's an example for the trader who asked.

1m chart (5m and above would've been stronger of course)

1) bearish Hd
2) price stalled at 50ema
3) price failed to close above cci 0 line


Attached Image (click to enlarge)
Click to Enlarge Name: gj_1m.gif Size: 15 KB
  • #125,290
  • Oct 23, 2008 6:06am Oct 23, 2008 6:06am
Quoting lilmoe
i agree and dont agree at the same time.

we don't need a doji or a hanging man to end a bearish move. we could see either a rejection pattern or price just heading back up without a pattern at all. those pattern indicate reversal, but reversal DOESNT need a pattern to start.

no disrespect at all
I agree, that price does what it want´s and I only use pattern to have a direction for trade (not that perfect young trader I am ).

btw, we have a 1 h close below gann. Thats good. For the bears
  • #125,291
  • Oct 23, 2008 6:09am Oct 23, 2008 6:09am
Quoting peaches
I agree, that price does what it want´s and I only use pattern to have a direction for trade (not that perfect young trader I am ).

btw, we have a 1 h close below gann. Thats good. For the bears
yep, still have 3 short positions, and the long i had is stopped out... could've been 4 positions if i didn't close that m30 short prematurely, oh well...
  • #125,292
  • Oct 23, 2008 6:14am Oct 23, 2008 6:14am
m5 indicating a possible pullback to 50 or 38.2% fibo (bounce from 78.6 with bullish divergence)

Attached Image (click to enlarge)
Click to Enlarge Name: gj_5m.gif Size: 16 KB
  • #125,293
  • Oct 23, 2008 6:25am Oct 23, 2008 6:25am
I have seen, we have daily highs with 160.651, and would not see it further again.

Price is now approaching below 1 h gann, which is not easy always. We require patience for this.

If the bulls are capable to take control, we would watch on current 4 h maximum a dooj or hanging man. In that case, morning US session will be bearish once more.
__________________
"I have no bias"
  • #125,294
  • Oct 23, 2008 6:28am Oct 23, 2008 6:28am
thanks a lot for the explaination brother...
i will take a close look on it first...
happy pipin'
thx

Quoting lilmoe
here's an example for the trader who asked.

1m chart (5m and above would've been stronger of course)

1) bearish Hd
2) price stalled at 50ema
3) price failed to close above cci 0 line


Attachment
Money management is good for your health...
  • #125,295
  • Oct 23, 2008 6:55am Oct 23, 2008 6:55am
what a drop.. hope it bounces from here.. or it could be another tank perhaps
  • #125,296
  • Oct 23, 2008 6:58am Oct 23, 2008 6:58am
and we drop yet again....
  • #125,297
  • Oct 23, 2008 7:09am Oct 23, 2008 7:09am
i have a feeling we're going to reverse from here again.

closing 1 short position for 330 pips.
no longs yet.
  • #125,298
  • Edited 7:27am Oct 23, 2008 7:11am | Edited 7:27am
If price break 157-156.5 it can be 151.5 [and then 147.5 in next week or two], area isn't heavily populated. Claims release in 15 minutes can fuel the momentum (it still can also originate a retrace in case of strangely good datum, but this is rather doubtful).

update: seems that market doesn't want to wait for release.. But its ofc still important, can reverse/fuel the price action
  • #125,299
  • Oct 23, 2008 7:17am Oct 23, 2008 7:17am
the pound has amost lost half of its value against the yen in less than a year. now that is what I call volatility. im glad I did not keep my cash in pounds.

Almost Half!
  • #125,300
  • Oct 23, 2008 7:17am Oct 23, 2008 7:17am
Quoting lilmoe
i have a feeling we're going to reverse from here again.

closing 1 short position for 330 pips.
no longs yet.
Nobody wants to go a long term short from here, that is for sure. Any temporary drop should be leftovers of bears activity.

I believe at least a 500 pips reversal (which is nothing compared to such a massive monthly drop) is inevitable ...

We must follow the chart though ...
Discipline + Patience - Fear - Greed = Success
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