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

  • #141,961
  • Nov 24, 2008 2:13pm Nov 24, 2008 2:13pm
looks like wave 4. 15 min chart
  • #141,962
  • Nov 24, 2008 2:15pm Nov 24, 2008 2:15pm
Quoting cohiba pips
dam beast is going to keep rising by the looks of things

would really like to catch a nice retrace probably asia now as volume has died

where shall i enter that is the question
buy dips

the short term trend might end at some point but who cares, just ride it
  • #141,963
  • Nov 24, 2008 2:23pm Nov 24, 2008 2:23pm
anyone seeing a rising wedge on the 3 min?
  • #141,964
  • Nov 24, 2008 2:30pm Nov 24, 2008 2:30pm
Here is what I have observed this week. This a free tutorial for Newbies...


Charts have been hinting to us all month where the market wants to go. Watch the money flow. Commodities are being bought. Equities are being bought. Money is being enticed into the market for the big fall that is coming in the future.

When the big boys get enough money into the stock market we could possibly see a massacre someday. I just don't know when, yet.

A study I did a few years ago showed a correlation of the weekly gbp/usd chart and major U.S. holidays. Price trends changed at Easter and Thanksgiving. It is a pattern that has been repeated a few times for confirmation. With this knowledge you can watch for signals of confirmation.

Then, you know where to place your buy and sell orders on any pair to maximize possible bounces. You can play for a reversal, or you can straddle the support/resistance with a good risk to reward possibilty.

Geppy has a bullish bias for now, confirmed. This is certainly short term, with consolidation to follow before the next break out comes. Get used to trading ranges when a strong move runs out of steam.

Remember, strong move comes, then runs out of steam, retraces and builds a base to push from. I see USD weakness coming. Exploit it.
  • #141,965
  • Nov 24, 2008 2:31pm Nov 24, 2008 2:31pm
Quoting Big Bruv
anyone seeing a rising wedge on the 3 min?
that's what i'm counting as wave 4. it should break to upside, if my count is correct.
  • #141,966
  • Nov 24, 2008 2:38pm Nov 24, 2008 2:38pm
Quoting cohiba pips
dam beast is going to keep rising by the looks of things

would really like to catch a nice retrace probably asia now as volume has died

where shall i enter that is the question
if we go higher, look for price action when we hit 148. i'm aussming at least a bounce from there.
  • #141,967
  • Nov 24, 2008 2:40pm Nov 24, 2008 2:40pm
Here is Lilmoe's YM over 8500, wounder if that bearish divergence - void.
Also it would be great to see YM close there, than Asian retracement
  • #141,968
  • Nov 24, 2008 2:41pm Nov 24, 2008 2:41pm
Quoting pkimnyc
that's what i'm counting as wave 4. it should break to upside, if my count is correct.
aren;t rising wedges bearish?
  • #141,969
  • Nov 24, 2008 2:41pm Nov 24, 2008 2:41pm
Quoting Dr.Geppynius
if we go higher, look for price action when we hit 148. i'm aussming at least a bounce from there.
wow, that was the target i had estimated also just now. anywhere between 148 - 148.20.
  • #141,970
  • Nov 24, 2008 2:42pm Nov 24, 2008 2:42pm
The world is crying out for a Saviour, or a Messiah, or a 12th Iman, or whatever that particular culture practices.

The handwriting is on the wall, just as in the Book of Daniel to Nebechenezzer. Things are falling into place.

Governments should never be that saviour, because ultimate power corrupts ultimately.

Some folks here want Obama to be the Savior. High expectations are on his shoulders. Good Luck to ya Barak. You have a tough job ahead of you.


Market Sentiment will only soar if public trust returns to the people. At best, I think it is a futile hope, that any human can fix all our problems.
as traders, we need to go into survival mode. Protect your assets at all costs. I designate 80% of my trading account to long term boring safe lower yielding positions that I dont Have to monitor often.

20% of my balance is risk capital for short term daily trading.
  • #141,971
  • Nov 24, 2008 2:43pm Nov 24, 2008 2:43pm
Quoting pipsbull
Here is Lilmoe's YM over 8500, wounder if that bearish divergence - void.
Also it would be great to see YM close there, than Asian retracement
bam! there is our 1000 point rally on ym, beginning on friday when we nailed the bottom and everybody was laughing at us
  • #141,972
  • Nov 24, 2008 2:44pm Nov 24, 2008 2:44pm
Quoting malcolmb14
had to post this chart

tea anyone ..... look at the cup formation on 60 min ... now we get handle on retracement and then route 164

Attachment

Oh that looks good!!!

B
  • #141,973
  • Nov 24, 2008 2:51pm Nov 24, 2008 2:51pm
closing out. don't like the way it looks.
  • #141,974
  • Nov 24, 2008 2:52pm Nov 24, 2008 2:52pm
Quoting Dr.Geppynius
bam! there is our 1000 point rally on ym, beginning on friday when we nailed the bottom and everybody was laughing at us
Actually, this is sweet. I'm on sidelines. That thing needs a retracement, even though if it will happen only after touching 148 level. We still can throw our fibs and moving averages on it. Now, a little risky for long for sure, but will consider myself to short, if price forms below 50ema on 5min chart!
  • #141,975
  • Nov 24, 2008 2:53pm Nov 24, 2008 2:53pm
Divide each Forex trading session into 3 basic strategies.
Asian session sqeezes shorts and reverses bias a lot of the time. Look for that pattern when it happens. Exploit it.

Know when the tokyo price fix occurs, when they go to lunch, and when they resume the second half. Lots of range trading opportunities on the first half. Establish a channel with tops and bottoms of your pair. Buy low and tp at the top. Partial profits is best, in case you catch the break out. Set your limit orders with exit strategies. Set and forget. Let the market come to your price.


That is how you get good entries with mininum drawdown.

London/Frankfurt will usually reverse the bias back to where it was before Asia. The market will a strong move until midday. You take your partial profits then, and trail your position with a stop loss, securing no risk of loss.

Then the retracement comes hard and you cover that first position with a contra position with a trailing stop loss.
  • #141,976
  • Nov 24, 2008 2:53pm Nov 24, 2008 2:53pm
Quoting pipsbull
Actually, this is sweet. I'm on sidelines. That thing needs a retracement, even though if it will happen only after touching 148 level. We still can throw our fibs and moving averages on it. Now, a little risky for long for sure, but will consider myself to short, if price forms below 50ema on 5min chart!
wow Dow is 300, guess profit taking
  • #141,977
  • Nov 24, 2008 2:57pm Nov 24, 2008 2:57pm
my hat off to you. every day i learn something new, and these last days i learned a lot.
you are one of the few whose posts i enjoy to read.


Quoting Dr.Geppynius
bam! there is our 1000 point rally on ym, beginning on friday when we nailed the bottom and everybody was laughing at us
Nihil Sine Deo.
  • #141,978
  • Nov 24, 2008 2:59pm Nov 24, 2008 2:59pm
frankfurt opens 1hr before london and you often see frankfurt producing a false move before london opens and nails the direction of prelunch. that's how we germans are

http://forex.timezoneconverter.com/
  • #141,979
  • Nov 24, 2008 3:01pm Nov 24, 2008 3:01pm
Quoting Scrat
my hat off to you. every day i learn something new, and these last days i learned a lot.
you are one of the few whose posts i enjoy to read.
ty scrat! i can give that back to you
  • #141,980
  • Nov 24, 2008 3:02pm Nov 24, 2008 3:02pm
hi traders


AL alhamdulillah (thank god) for such progress i found in Da market

i forecast from few hours ago by the continuation of the up trend in geppy & i would like to add another two pairs analysis , hope you find me useful guys.

Usd/chf:

i am really proud to trade with this pair , make my predictions come true one after one , you can see my analysis for this pair in ( usd/yen discussion room ) with usd/yen pair , i forecast the continuation the up trend cycle of this two pairs ,especially usd/chf
the few past weeks as shown in my charts, even with this retrace that already happened , this pair will continue his up trend, and i forecast more bullish activity coming with all usd pairs.


usd/yen:
as i said before i forecast the continuation of the up trend for all the usd pairs and i see that usd/chf will drag usd/yen to complete both up trend cycle.


some fresh traders in my group asked me about the reasons for retraces

and the reason for such retrace is the fundamentals(news)
& to be clear to you :
all the buyers and sellers you will find on those threads
so if you found most posts focused on the up movement will happen (up trend), so the price will go down coz all the traders will take long positions & visa verse.
this trick they call it (news)


have fun traders
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