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

  • #131,321
  • Nov 4, 2008 3:26am Nov 4, 2008 3:26am
yesterday morning we got a head-and-shoulders pattern on the fake-out-break-out and I would not be surprised to see the same today which would take us to around Islander's 50 point.
  • #131,322
  • Nov 4, 2008 3:33am Nov 4, 2008 3:33am
Trend is your friend
Attached Image (click to enlarge)
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  • #131,323
  • Nov 4, 2008 3:37am Nov 4, 2008 3:37am
Quoting SamiFX
Trend is your friend
what's your trend?
Trade what you see, not what you think.
  • #131,324
  • Nov 4, 2008 3:42am Nov 4, 2008 3:42am
Quoting karmostaji
what's your trend?
refresh the page please, it was an error.. sorry
  • #131,325
  • Nov 4, 2008 3:52am Nov 4, 2008 3:52am
a close above 1h 50ema (and maintaining it) will suggest 161 again... bummer.

Attached Image (click to enlarge)
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edit: that's the same channel (bull flag) i was asking ovaforty about yesterday. if by any chance this sucker is broken north, monthly 5sma is the target just like ovaforty said. that flag would be the handle of the cup formation.

looks like the bullish divergence on 1h is playing out now, it could drag price further up.

m30 50ema still holding though. 1h 50ema at 157.50, if we get there, it would be my last attempt to short. if stopped out i'll wait for that area to turn into support to go long.

no longs yet.
  • #131,326
  • Nov 4, 2008 3:56am Nov 4, 2008 3:56am
bias and trend is your's to decide

peace.................
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Fools Rushing
  • #131,327
  • Nov 4, 2008 3:58am Nov 4, 2008 3:58am
Quoting lilmoe
a close above 1h 50ema (and maintaining it) will suggest 161 again... bummer.

Attachment

edit: that's the same channel (bull flag) i was asking ovaforty about yesterday. if by any chance this sucker is broken north, monthly 5sma is the target just like ovaforty said. that flag would be the handle of the cup formation.

m30 50ema still holding. 1h 50ema at 157.50, if we get that would be my last attempt to short. if stopped out i'll wait for that area to turn into support to go long.

no longs yet.
GJ looks like to spoil our bear party..
  • #131,328
  • Nov 4, 2008 4:09am Nov 4, 2008 4:09am
8 hours of my balls in a vise grip with one slow twist at a time.

Maybe it will take another 8 hours for me to realize things aren't going my way.
What's that smell?
  • #131,329
  • Nov 4, 2008 4:15am Nov 4, 2008 4:15am
That last run above 157.00 came within 8 pips of my SL. Me thinks I'm not gonna make it through the night.
What's that smell?
  • #131,330
  • Nov 4, 2008 4:16am Nov 4, 2008 4:16am
looks like same h&s pattern as yesterday, currently with a similar lower CCI rise on the head part. Will short if I see a lower high and neg. div.
  • #131,331
  • Nov 4, 2008 4:19am Nov 4, 2008 4:19am
head shoulder in play,we may see 159 this time
  • #131,332
  • Nov 4, 2008 4:27am Nov 4, 2008 4:27am
The short term trend - see my earlier 15 min chart - turned up after this morning's low of 153.68 - this was an oversold push to the lower 34 ema band.

So after checking my analysis on the higher TFs - hourly and 15 min - I drop down to my 5m for trading.

The higher low before the Frankfurt Open was a heads up to a possible long.

Longs were confirmed as price bounced up from the 34 ema and continues to head up towards the fibonacci retracements.
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #131,333
  • Nov 4, 2008 4:28am Nov 4, 2008 4:28am
bear are done?
  • #131,334
  • Nov 4, 2008 4:31am Nov 4, 2008 4:31am
Karmo must have ran out of pills by now....
  • #131,335
  • Nov 4, 2008 4:33am Nov 4, 2008 4:33am
Quoting cancunkev
Karmo must have ran out of pills by now....
if 1h candle closes above 1h 50ema, I'll exit all shorts
Trade what you see, not what you think.
  • #131,336
  • Nov 4, 2008 4:34am Nov 4, 2008 4:34am
Quoting cancunkev
Karmo must have ran out of pills by now....
hehe me too.this bull move was not expected by me.
  • #131,337
  • Nov 4, 2008 4:34am Nov 4, 2008 4:34am
157.66 or there abouts?
  • #131,338
  • Nov 4, 2008 4:35am Nov 4, 2008 4:35am
Quoting moneybookers
bear are done?
I doubt it. We have a potential H&S formation in play, we are reaching the 158.5 pivot, and are still below the descending trend line. I have one particular short under water but have been hedging long in the meantime and do expect us to turn back down some time today.

I am by the way new here. Pleasure to meet everyone. Here to share views and make money (not make views and share money ).
  • #131,339
  • Nov 4, 2008 4:35am Nov 4, 2008 4:35am
Quoting karmostaji
if 1h candle closes above 1h 50ema, I'll exit all shorts
1h 50ema 157.60 area?
  • #131,340
  • Nov 4, 2008 4:37am Nov 4, 2008 4:37am
This is getting confusing

So many moving averages. Now what's this 34ema?! From the chart, it seems that the price moves around it nicely.

After adding the 5sma, 5ema, 13ema, 50ema, 100sma, 200sma, and now the 34ema, I can no longer see the price candles!!! This is just too much to be able to follow
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