good advice. 4hr is definitely still downtrend in my opinion but the short term volatility makes it look like it's reversing.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #135,541
- Nov 12, 2008 11:07pm Nov 12, 2008 11:07pm
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- #135,542
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
- #135,543
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- #135,545
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- #135,546
- Nov 12, 2008 11:19pm Nov 12, 2008 11:19pm
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- #135,547
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agree
if it comes to 141.10 and then bounces, we may have an INVERSE H/S on the 15 min. but if it pierces thru 141 then we may hit 139 test and if that fails, down we go
if it comes to 141.10 and then bounces, we may have an INVERSE H/S on the 15 min. but if it pierces thru 141 then we may hit 139 test and if that fails, down we go
i had a long based on that concept, but had to close it once i saw it coming below the 50 ema on 15 min.
- #135,548
- Nov 12, 2008 11:29pm Nov 12, 2008 11:29pm
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agree
if it comes to 141.10 and then bounces, we may have an INVERSE H/S on the 15 min. but if it pierces thru 141 then we may hit 139 test and if that fails, down we go
- #135,549
- Nov 12, 2008 11:31pm Nov 12, 2008 11:31pm
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another theory (if BOJ) dont spoil it)
goes back to 143.35 makes a H/S on the 5 min and collapses. all theories. 3 eyed monster to watch out for as malcolm said is the BOJ
15min 50 ema around 143.35 area ? doesnt look like it has the viagra
(if BOJ) dont spoil it) goes back to 143.35 makes a H/S on the 5 min and collapses. all theories. 3 eyed monster to watch out for as malcolm said is the BOJ
15min 50 ema around 143.35 area ? doesnt look like it has the viagra
- #135,550
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going to bed guys. see you @ london. good trading everyone.
- #135,555
- Nov 12, 2008 11:43pm Nov 12, 2008 11:43pm
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
- #135,558
- Nov 12, 2008 11:55pm Nov 12, 2008 11:55pm
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hey that 145.80 is near the area of the lower channel this broke as pipbull was saying in his chart above. although in that chart lower 146 was the lower channel. for g/j 50 pip overruns are nothing
as you said, we have to be v careful on longs as things might collapase any time and BOJ can prop anytime also. anyone has a crystal ball? oh wait, Karmo took it with him to dinner
as you said, we have to be v careful on longs as things might collapase any time and BOJ can prop anytime also. anyone has a crystal ball? oh wait, Karmo took it with him to dinner
If this is in fact a C wave then it should pop above 143.73 which was the top of A. Now how high it goes from there depends. Optimally it would be 1.618 times A which is around 145.80. But in this climate I will babysit it and exit early with no problems.
I play with these counter trend bounces like one plays with a cobra- glove on one hand, machete in the other.
