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

  • #136,301
  • Nov 13, 2008 7:57pm Nov 13, 2008 7:57pm
Quoting jon clogger
143.50 long +100 SL be
food for thought.
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  • #136,302
  • Nov 13, 2008 8:04pm Nov 13, 2008 8:04pm
should have left my short. that silly oanda chart.....
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  • #136,303
  • Nov 13, 2008 8:05pm Nov 13, 2008 8:05pm
Technical Analysis

Date: 2008/11/13
Time: 21:27 (GMT +2)
Ticker: GBPJPY
Last: 142.75
Pivot: 140.3
1st sup. 140.3
2nd sup. 139
3rd sup. 135.5
1st res. 143.9
2nd res. 146.2
3rd res. 147.7


Title: GBP/JPY intraday: further advance.
Summary: Update on supports and resistances.
Story: Pivot: 140.3

Our preference: Long positions above 140.3 with targets @ 143.9 & 146.2 in extension.

Alternative scenario: Below 140.3 look for further downside with 139 & 135.5 as targets.

Comment: the RSI is supported by a rising trend line.
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  • #136,304
  • Nov 13, 2008 8:08pm Nov 13, 2008 8:08pm
Quoting steelhead
get rid of them
No.

why should I be getting rid of what's been working for me?

we've all been wrong before, if i'm wrong i just look for another opportunity

only trading what i see
  • #136,305
  • Nov 13, 2008 8:09pm Nov 13, 2008 8:09pm
Quoting pkimnyc
food for thought.
Saw that, I closed when 5m had a bearish doji for +65
What's that smell?
  • #136,306
  • Nov 13, 2008 8:10pm Nov 13, 2008 8:10pm
Quoting jon clogger
Saw that, I closed when 5m had a bearish doji for +65
  • #136,307
  • Nov 13, 2008 8:14pm Nov 13, 2008 8:14pm
I took 1 short from 1 hour 50 ema to 30 min 50 ema, closed and went for a shower as I did not see anything more there.

playing safe and on the fence right now.
  • #136,308
  • Nov 13, 2008 8:16pm Nov 13, 2008 8:16pm
Quoting pkimnyc

I like your c option 2

1) the Asian session nearly always reverses the us session
2) the best this retrace has done so far is 38.2 retrace of the up move of today 139 ish to 146.3
3) if 143.30 holds then the 1-2-3 buy comes into play ... targets 144.8 , 145,5 , 146,85 , 147,82 and top of major channel test 149

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  • #136,309
  • Nov 13, 2008 8:22pm Nov 13, 2008 8:22pm
Since downtrend is still in effect, I will avoid all longs here

Only a break of 4 hour 50 ema reverses the trend.
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  • #136,310
  • Nov 13, 2008 8:24pm Nov 13, 2008 8:24pm
And, I will not short till the 1 hour chart confirms it

So, for all purposes I am on the fence now.

Better safe than sorry.
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  • #136,311
  • Nov 13, 2008 8:24pm Nov 13, 2008 8:24pm
Quoting Yaad
No.

why should I be getting rid of what's been working for me?

we've all been wrong before, if i'm wrong i just look for another opportunity

only trading what i see

Why? Because it took a 200 pip downmove for your indicators to finally say that it was a sell.

If you would have just read the charts and price action you would have gotten in 200 pips higher on your short.

your lagging indicators cost you pips. Why? cause they are lagging by the time they finally say sell move is already underway.
  • #136,312
  • Nov 13, 2008 8:26pm Nov 13, 2008 8:26pm
Forex is way more fun than OTCBB
  • #136,313
  • Nov 13, 2008 8:29pm Nov 13, 2008 8:29pm
Quoting steelhead
Why? Because it took a 200 pip downmove for your indicators to finally say that it was a sell.

If you would have just read the charts and price action you would have gotten in 200 pips higher on your short.

your lagging indicators cost you pips. Why? cause they are lagging by the time they finally say sell move is already underway.
Lagging or smoothed price protects better than the unpredictable price feed.

Safety first.
  • #136,314
  • Nov 13, 2008 8:29pm Nov 13, 2008 8:29pm
Quoting malcolmb14
I like your c option 2

1) the Asian session nearly always reverses the us session
2) the best this retrace has done so far is 38.2 retrace of the up move of today 139 ish to 146.3
3) if 143.30 holds then the 1-2-3 buy comes into play ... targets 144.8 , 145,5 , 146,85 , 147,82 and top of major channel test 149

Attachment
can't rule out any possibility, even the 4 hr option is still on the table.
failure to break upper TL would mean the new low is on the way, i think. for now.
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  • #136,315
  • Nov 13, 2008 8:30pm Nov 13, 2008 8:30pm
Having trouble with the 4hr gann line ... we will see
  • #136,316
  • Nov 13, 2008 8:34pm Nov 13, 2008 8:34pm
Quoting steelhead
Why? Because it took a 200 pip downmove for your indicators to finally say that it was a sell.

If you would have just read the charts and price action you would have gotten in 200 pips higher on your short.

your lagging indicators cost you pips. Why? cause they are lagging by the time they finally say sell move is already underway.

Dude, why are you coming in here bashing ppl for their entries. If I remember correctly you were calling longs for 500 pips of this down move.
  • #136,317
  • Nov 13, 2008 8:37pm Nov 13, 2008 8:37pm
Quoting steelhead
your lagging indicators cost you pips. Why? cause they are lagging by the time they finally say sell move is already underway.
you do what works for u, and i do what works for me

how bout that?
  • #136,318
  • Nov 13, 2008 8:38pm Nov 13, 2008 8:38pm
I agree. We are here to help each other learn and to post our OWN personal trades. If we make a mistake, we make a mistake. Obviously if we lose money we know that. What would be great is the feed back from those more experienced helping to understand what we did wrong or if we we're right and just got hit by a market reversal.
  • #136,319
  • Nov 13, 2008 8:39pm Nov 13, 2008 8:39pm
Quoting pkimnyc
can't rule out any possibility, even the 4 hr option is still on the table.
failure to break upper TL would mean the new low is on the way, i think. for now.

4hr is perfect descending triangle now

I do not think we re-test low till 149 ( upper trendline of triangle) is tested

then we may come back down and test new low

below is 12 hour chart

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  • #136,320
  • Nov 13, 2008 8:42pm Nov 13, 2008 8:42pm
I see a potential buy opp. Nice 4hr outside bar, double bottom on the daily, CCI touching down on asc TL.

Just not sure about that bull flag support line though. She's having trouble breaking it.

Can someone tell me what DP they have?

Mine is 143.19 (FxPro is the broker).

Cheers
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