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

  • #136,661
  • Nov 14, 2008 3:08pm Nov 14, 2008 3:08pm
OMG I left so much money on the table. Should have taken a patience pill. No, I should have crushed, melted, and injected one.

Way to go pk
What's that smell?
  • #136,662
  • Nov 14, 2008 3:11pm Nov 14, 2008 3:11pm
Quoting jon clogger
OMG I left so much money on the table. Should have taken a patience pill. No, I should have crushed, melted, and injected one.

Way to go pk


more to come (hopefully). stay tuned.
  • #136,663
  • Nov 14, 2008 3:20pm Nov 14, 2008 3:20pm
Quoting pkimnyc


more to come (hopefully). stay tuned.
I see strong TL support at 142.00, starting from nov.13 lows

If it gets there today, this may be a new wave 1 down. Have to see.
What's that smell?
  • #136,664
  • Nov 14, 2008 3:23pm Nov 14, 2008 3:23pm
Quoting jon clogger
I see strong TL support at 142.00, starting from nov.13 lows

If it gets there today, this may be a new wave 1 down. Have to see.
it will be taken out. crossing my fingers.

the last move up was ABC, now it's time for impulse wave to kick in.
i see that level as well 142. expecting a small abc correction to be made before resuming it's course.
  • #136,665
  • Nov 14, 2008 3:29pm Nov 14, 2008 3:29pm
Quoting pkimnyc
it will be taken out. crossing my fingers.

the last move up was ABC, now it's time for impulse wave to kick in.
i see that level as well 142. expecting a small abc correction to be made before resuming it's course.
Exactly! I want to be waiting at the top of W2, so I can hop back on the sneaky snake.

30min to go, I'll have to watch pa after the weekend. Congrats on the big final move.
One more thing, if this is in fact W1, and W3 can be 1.618 times W1, we could be in for a huge drop.
What's that smell?
  • #136,666
  • Nov 14, 2008 3:32pm Nov 14, 2008 3:32pm
Quoting jon clogger
Exactly! I want to be waiting at the top of W2, so I can hop back on the sneaky snake.
  • #136,667
  • Nov 14, 2008 3:34pm Nov 14, 2008 3:34pm
i go to lunch .. YM limit hit 8900 .... that was another 160 in bag ..

come back to find lunch cost me alot of $$$ in missed trades ....what happened ???
Blogging daily now at www.volume.zone
  • #136,668
  • Nov 14, 2008 3:38pm Nov 14, 2008 3:38pm
Quoting jon clogger
Exactly! I want to be waiting at the top of W2, so I can hop back on the sneaky snake.

30min to go, I'll have to watch pa after the weekend. Congrats on the big final move.
One more thing, if this is in fact W1, and W3 can be 1.618 times W1, we could be in for a huge drop.
that's what i'm hoping.
  • #136,669
  • Nov 14, 2008 3:40pm Nov 14, 2008 3:40pm
Here's the new daily chart. Have a great weekend everyone!

Attached Image (click to enlarge)
Click to Enlarge Name: daily.jpg Size: 156 KB
  • #136,670
  • Nov 14, 2008 3:41pm Nov 14, 2008 3:41pm
Quoting malcolmb14
i go to lunch .. YM limit hit 8900 .... that was another 160 in bag ..

come back to find lunch cost me alot of $$$ in missed trades ....what happened ???
They realised how demented they were in bringing the DOW up so much and dumped before the G20 weekend. False hopes call for crazy moves. Love the volatility.
  • #136,671
  • Nov 14, 2008 3:43pm Nov 14, 2008 3:43pm
Quoting Pips_Cruiser
Here's the new daily chart. Have a great weekend everyone!

have a great weekend. :bye:
  • #136,672
  • Nov 14, 2008 3:55pm Nov 14, 2008 3:55pm
well I just logged in and saw my 3 short positions from 145.90 area have been stopped out with total of 265+ ... my sl was at 145.00 I should have closed them at 141.50


Here is what I see for next week. I think if this movements form this rising triangle (sorry for the choppy edge), a breakout to the upside will be likely to happen. That will push the price up to 149.50 and then 151.80 or higher easily.

On the other side if price respects that red trend line and no breakout happens then bears will definitely continue their push to 139 again and this time they will break it and go below that level.

Although today was Friday and strange movements are common this day but this last candlestick formation on H1 shows that bears are still well in control.

I believe if market opens with a gap next week (probably down), the way that the gap is filled will show the market direction.

Have a nice weekend everybody.
Attached Image (click to enlarge)
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Discipline + Patience - Fear - Greed = Success
  • #136,673
  • Nov 14, 2008 3:57pm Nov 14, 2008 3:57pm
Quoting ultimate
They realised how demented they were in bringing the DOW up so much and dumped before the G20 weekend. False hopes call for crazy moves. Love the volatility.

demented or super smart

pros only sell into strength and buy into weakness

they wanted the dj to test the 8900 / 9000 area ... all the better to load up on shorts
Blogging daily now at www.volume.zone
  • #136,674
  • Nov 14, 2008 4:03pm Nov 14, 2008 4:03pm
Quoting arezab
well I just logged in and saw my 3 short positions from 145.90 area have been stopped out with total of 265+ ... my sl was at 145.00 I should have closed them at 141.50


Here is what I see for next week. I think if this movements form this rising triangle (sorry for the choppy edge), a breakout to the upside will be likely to happen. That will push the price up to 149.50 and then 151.80 or higher easily.

On the other side if price respects that red trend line and no breakout happens then bears will definitely continue their push to 139...
thanks for the chart arezab. have a great weekend.
  • #136,675
  • Nov 14, 2008 7:09pm Nov 14, 2008 7:09pm
arezab,
I'm looking at the same chart, rising triangle, i suspect will break to the top to the 150 area, for another 1000 pip drop or 2.

Cheers, have a good weekend
  • #136,676
  • Nov 14, 2008 8:20pm Nov 14, 2008 8:20pm
http://learningmarkets.com/index.php...sis-video.html



Quoting Cdawg
arezab,
I'm looking at the same chart, rising triangle, i suspect will break to the top to the 150 area, for another 1000 pip drop or 2.

Cheers, have a good weekend
[
  • #136,677
  • Edited 9:20pm Nov 14, 2008 8:42pm | Edited 9:20pm
wave count for probable bull scenario:

today's move couldn't take out the last high.
good thing for bull's camp is that it made a higher low.

if the last high breaks the next week then good chance we will see 149 ~ 150 area.

http://www.forexfactory.com/attachme...1&d=1226719058

wave count for probable bear scenario

my initial thought on last up move was ABC wave, but looking at the chart for the second time changed things a little. entire whippy move we had for 3 days looks like wave 4. either that, i'm seeing things what i wanna see.

count is voided if it takes out the last high.

http://www.forexfactory.com/attachme...1&d=1226719073

if the wave count for the bear scenario plays out then we will most likely see the end of E wave taking out the last low.

http://www.forexfactory.com/attachme...1&d=1226719089
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  • #136,678
  • Nov 14, 2008 10:40pm Nov 14, 2008 10:40pm
pkimnyc, brilliant! Thank you for doing this work. I was so excited to see a couple of the exact same scenarios I was considering.

I haven't left the bear camp just yet, primarily because of the late day drop on wall street. It's indicative of market cancer.

However, something to note is if you compare EU with S&P 500 they were in step until recently when some major drops in S&P were matched with big increases in EU (div.)

So that could be interesting enough from the perspective that weak equities may not mean a stronger dollar/yen in the coming days/weeks.
What's that smell?
  • #136,679
  • Edited 11:06pm Nov 14, 2008 10:48pm | Edited 11:06pm
Quoting england33
we'll see. i admit there's a chance to go up but if it fails at resistance it will be a major disappointment and down we go. these guys are in a sea of uncertainty.
Quote
the dow is going to go down today. that's my prediction.
my prediction was right. no?

dow 8,497, 8,371 after hrs/final close -459.00
gpy/jpy 143.07

Victory bear camp! and you can take that to the bank.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #136,680
  • Nov 14, 2008 10:48pm Nov 14, 2008 10:48pm
Quoting jon clogger
pkimnyc, brilliant! Thank you for doing this work....
thanks bro. have a great weekend, and remember, let's not get married to our positions.
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