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

  • #142,121
  • Nov 24, 2008 8:49pm Nov 24, 2008 8:49pm
Quoting Eulogy
looks like a shampoo developing there
shampoo = kc
  • #142,122
  • Nov 24, 2008 8:53pm Nov 24, 2008 8:53pm
Quoting cohiba pips
your one to talk lol
I get 7 hrs ... 9 pm to 4am .. party animal !!!!
Blogging daily now at www.volume.zone
  • #142,123
  • Nov 24, 2008 8:58pm Nov 24, 2008 8:58pm
Quoting malcolmb14
I get 7 hrs ... 9 pm to 4am .. party animal !!!!

no bulls tonight - have you done some digging lol
  • #142,124
  • Nov 24, 2008 8:59pm Nov 24, 2008 8:59pm
Quoting malcolmb14
I get 7 hrs ... 9 pm to 4am .. party animal !!!!
I take it you work(trade) 16hr days, double shift.
Learning never ends.
  • #142,125
  • Nov 24, 2008 9:03pm Nov 24, 2008 9:03pm
Quoting kbrown
I take it you work(trade) 16hr days, double shift.
nah do not trade asia typically

just watch ........

I trade us / euro overlap and us session on fx and futures ....
Blogging daily now at www.volume.zone
  • #142,126
  • Nov 24, 2008 9:05pm Nov 24, 2008 9:05pm
Quoting malcolmb14
I get 7 hrs ... 9 pm to 4am .. party animal !!!!
Since trading Forex, my sleep has been on and off during the normal sleep hours .. but I sleep a lot in the week-end ..
  • #142,127
  • Nov 24, 2008 9:05pm Nov 24, 2008 9:05pm
Quoting malcolmb14
nah do not trade asia typically

just watch ........

I trade us / euro overlap and us session on fx and futures ....
Asia is the time to study your charts looking for patterns.
  • #142,128
  • Nov 24, 2008 9:10pm Nov 24, 2008 9:10pm
Quoting mktjong
Since trading Forex, my sleep has been on and off during the normal sleep hours .. but I sleep a lot in the week-end ..
Most of us are so addicted to trading we'd be dead already if retail trading didn't close on weekends.
Learning never ends.
  • #142,129
  • Nov 24, 2008 9:11pm Nov 24, 2008 9:11pm
New daily moms pointing down. Yellow 38 fib held as resistance, so far. Green 22 sma holding as resistance so far.

Looks like consolidation pattern to me.
Attached Image (click to enlarge)
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  • #142,130
  • Nov 24, 2008 9:12pm Nov 24, 2008 9:12pm
Quoting malcolmb14
nah do not trade asia typically

just watch ........

I trade us / euro overlap and us session on fx and futures ....
What are you seeing Malcomb?
  • #142,131
  • Nov 24, 2008 9:17pm Nov 24, 2008 9:17pm
Quoting ovaforty
Asia is the time to study your charts looking for patterns.
not so sure but i know what your saying ok nap time

night gang be good and trade safe
  • #142,132
  • Nov 24, 2008 9:19pm Nov 24, 2008 9:19pm
Quoting ovaforty
Asia is the time to study your charts looking for patterns.
cheers mate ..... opps sorry no handle

we could get pull back to 38 % fib at 143.99 then the handle is formed ...

if we get break out of cup / handle formation there is a new 1-2-3 buy with fe 38 at 148.38 , then upside targets 149.95 , 151.07 , 152.49 , 155

or we could have a double top at 148 and no break out , therefore the 1-2-3 buy formation does not come into play.

This 4 hour candle falls in asia and I do not often count these , but instead look to the 12 hour chart , which will be bullish if we get a close before midnight pst above 147. ( high of last 12 hr candle)


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  • #142,133
  • Nov 24, 2008 9:20pm Nov 24, 2008 9:20pm
nice evening star formed on 4 hr.
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  • #142,134
  • Nov 24, 2008 9:25pm Nov 24, 2008 9:25pm
Quoting pkimnyc
nice evening star formed on 4 hr.

not 100 % sure we can count that, as retracement is expected in Asia..... will have to see what London holds for us....it will be critical to see if we just drop back to 139 or if the 148 level is to be broken to the upside
Blogging daily now at www.volume.zone
  • #142,135
  • Nov 24, 2008 9:27pm Nov 24, 2008 9:27pm
Quoting kbrown
Most of us are so addicted to trading we'd be dead already if retail trading didn't close on weekends.
hahaha .. that's right .. this is actually a good thing (Forex closes in the wk-end)
Well, I've also noticed that we don't need to trade every day. Just wait for a good set up and pull the trigger. If we can grap even only 100 pips per week is already a good income. Over trade will kill you as I have experienced that a lot myself :-)
If we can set a discipline, trading will be much less stress and more enjoyable.
  • #142,136
  • Nov 24, 2008 9:28pm Nov 24, 2008 9:28pm
Quoting malcolmb14
cheers mate ..... opps sorry no handle

we could get pull back to 38 % fib at 143.99 then the handle is formed ...

if we get break out of cup / handle formation there is a new 1-2-3 buy with fe 38 at 148.38 , then upside targets 149.95 , 151.07 , 152.49 , 155

or we could have a double top at 148 and no break out , therefore the 1-2-3 buy formation does not come into play.
last time the price hit that double top area it dropped hard. I would expect a smaller drop this time.
  • #142,137
  • Nov 24, 2008 9:28pm Nov 24, 2008 9:28pm
Quoting malcolmb14
not 100 % sure we can count that, as retracement is expected in Asia..... will have to see what London holds for us....it will be critical to see if we just drop back to 139 or if the 148 level is to be broken to the upside
Well, I also see a so called 'railway track' candle formation on 4h. Usually this signals a reversal.
  • #142,138
  • Nov 24, 2008 9:28pm Nov 24, 2008 9:28pm
Quoting malcolmb14
not 100 % sure we can count that, as retracement is expected in Asia..... will have to see what London holds for us....it will be critical to see if we just drop back to 139 or if the 148 level is to be broken to the upside
guess i won't be going to bed.
lack of sleep.... cancer.... it's all your fault M.

today is the reversal date, nov 25.
  • #142,139
  • Nov 24, 2008 9:32pm Nov 24, 2008 9:32pm
Tokyo is back from lunch break now. Shanghai closed for lunch now.
  • #142,140
  • Nov 24, 2008 9:33pm Nov 24, 2008 9:33pm
I just took partial profit on my short position.
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