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

  • #131,361
  • Nov 4, 2008 6:02am Nov 4, 2008 6:02am
Well even a blind squirrel finds a nut occasionally .. and I managed to short the top of that last run up. Feels pretty good to have nailed the top.

I guess this is how lilmoe feels all the time.......
  • #131,362
  • Nov 4, 2008 6:03am Nov 4, 2008 6:03am
Quoting Islander
Sorry - I was out for an hour - currently, I have that 4 hour TL at 99.30 and my candle closes in 5 mins - so I'm expecting a bullish close.
Thanks, not good news, hopefully it'll twist back around
  • #131,363
  • Nov 4, 2008 6:05am Nov 4, 2008 6:05am
Quoting peaches
Hi all,

daily candle has no upper wick.

I only have 2 explanations:

A) the upper wick will be formed later the day.
B) big selling pressure, this will be a day without upper wick,
but a 1000 pip drop.

I vote for A)

btw., TNX yesterday was a daily bearish inside candle.
Daily candle now has an upper wick
  • #131,364
  • Nov 4, 2008 6:06am Nov 4, 2008 6:06am
I see double top on 15m RSI and neg div on CCI, though I feel this is somewhat irrelevant so long as u/j continues
  • #131,365
  • Nov 4, 2008 6:06am Nov 4, 2008 6:06am
LOL

Quoting lilmoe
  • #131,366
  • Nov 4, 2008 6:06am Nov 4, 2008 6:06am
Quoting Ghadeer
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

LOL - but I do understand. There are many different ideas now being shown in this thread and loads of indicators. I - and several other well known traders in FF only use the 34 ema - and no other indys. This allows me to easily the compare the price action on different currencies and also gives me a basic intra day trading system - just price action in relation to this MA on the 5m or 1m charts http://www.forexfactory.com/images/icons/icon12.gif

On a short TF chart the 50 ema will not be very far from the 34 ema, so I'll get similar signals to lilmoe.

If I'm confusing too many people I'll drop the 34 as its only a guide - Price Action Rules! http://www.forexfactory.com/images/icons/icon14.gif
Trading Levels with WRBs
  • #131,367
  • Nov 4, 2008 6:08am Nov 4, 2008 6:08am
Added shorts at 158.3
Money & Pain Respect the market, protect your capital, be patient
  • #131,368
  • Nov 4, 2008 6:14am Nov 4, 2008 6:14am
Quoting Islander

If I'm confusing too many people I'll drop the 34 as its only a guide - Price Action Rules! http://www.forexfactory.com/images/icons/icon14.gif
No, keep it .. as you say several good traders use it (or the 33 but I prefer the fib #) and the more you use it, the more you like it
  • #131,369
  • Nov 4, 2008 6:15am Nov 4, 2008 6:15am
Quoting peaches
Daily candle now has an upper wick
Hi Peaches,

Sorry for my question, I'm still learning PA. What does it mean if daily candle has an upper wick? will it be bullish or bearish? Thanks
  • #131,370
  • Nov 4, 2008 6:17am Nov 4, 2008 6:17am
Man, that UJ does not want to fall! Hard for guppy to be bearish without it.

If Obama wins, I think there will be a worldwide rally in markets (and I do not have a horse in this race, they are just 2 sides of the same coin) but IMO an Obama win will spark a temporary market surge.
  • #131,371
  • Nov 4, 2008 6:23am Nov 4, 2008 6:23am
Quoting aspil
Hi Peaches,

Sorry for my question, I'm still learning PA. What does it mean if daily candle has an upper wick? will it be bullish or bearish? Thanks
well as I went long 8 hours ago, I thought by myself and rehtorical
posting here, that the daily candle has no upper wick. And I thought by myself, that this is something strange, because most every daily candle has an upper wick. Well, after 8 bullish hours, daily candle has now formed an upper wick, IF the rest of the day is bearish. If price comes back down 150,
this what you see at the moment is the upper wick.

But nobody can tell if this happen. We have seen a piercing line pattern around 153 (pivot support 1) on 4h chart, which has played out and is done now, maybe. Nobody can tell the future, you can only read the signs which have been.

I`am in bear camp.
  • #131,372
  • Nov 4, 2008 6:32am Nov 4, 2008 6:32am
Quoting Ghadeer
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

You can also trade without any MAs Ghadeer.

Lovely juicy long signal here .
Attached Image (click to enlarge)
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  • #131,373
  • Nov 4, 2008 6:36am Nov 4, 2008 6:36am
This seems to have hit ths level 5 times now in the last hour. Is this it?? Bears here we come or is the Obama factor going to mess up everything??
  • #131,374
  • Nov 4, 2008 6:39am Nov 4, 2008 6:39am
Obama will be the 1st African American to be the President of US

I heard his father is Muslim, is that true?
Trade what you see, not what you think.
  • #131,375
  • Nov 4, 2008 6:43am Nov 4, 2008 6:43am
Looks like i missed all the fun

have positions at work, straddled the top 20 pips just gonna let the market figure itself out, either side dont matter from here we will be seeing both sides again will play the dominant action once we are figured out
"Millionaires don't use astrology, billionaires do"
  • #131,376
  • Nov 4, 2008 6:44am Nov 4, 2008 6:44am
Quoting karmostaji
Obama will be the 1st African American to be the President of US

I heard his father is Muslim, is that true?
what the relationship with geppy?
  • #131,377
  • Nov 4, 2008 6:45am Nov 4, 2008 6:45am
Quoting Cl4r1st
what the relationship with geppy?
some people are saying Obama is buying GJ, that's why it's rocketing upwards
Trade what you see, not what you think.
  • #131,378
  • Nov 4, 2008 6:45am Nov 4, 2008 6:45am
Just touched the 100sma on the 1hr
  • #131,379
  • Nov 4, 2008 6:46am Nov 4, 2008 6:46am
Quoting TraderStar
Well even a blind squirrel finds a nut occasionally .. and I managed to short the top of that last run up. Feels pretty good to have nailed the top.

I guess this is how lilmoe feels all the time.......
Ooops
Trade what you see, not what you think.
  • #131,380
  • Nov 4, 2008 6:48am Nov 4, 2008 6:48am
Weekly chart shows buying interest at the weekly 5 sma low. Price bounced up off that support. The bearish one candle mom has been satisfied. The monthly one candle mom tells us to target the monthly 5 sma channel.

Lots of wood to chop, but I see a possible easing of Risk Aversion until Thanksgiving holiday.
Attached Image (click to enlarge)
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