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

  • #142,701
  • Edited 11:28am Nov 25, 2008 11:15am | Edited 11:28am
Quoting GodfreyH
Now that cable has made it into the channel, any downside should be limited to the lower red trend line. We'll see how it plays out.
This is what I see. If UJ doesn't fall below 95.00 then 98.00 area is on the card. It has completed a nice 61.8 retrace. UJ loves %61.8 and cable %76.4 retrace levels.

Now if GU doesn't fall below that channel or if it falls returns back into it and continues up then GJ will fly to 155 or higher but based on my fib levels I think a retrace down to 1.5190 - 1.5200 is normal for GU in order to get more steam to continue north.
Attached Image (click to enlarge)
Click to Enlarge Name: uj h1.gif Size: 20 KB
Discipline + Patience - Fear - Greed = Success
  • #142,702
  • Nov 25, 2008 11:15am Nov 25, 2008 11:15am
Quoting ovaforty
Not today.....
yes not today but it could be happen in asia session
I always knew that someday I would make it big
  • #142,703
  • Nov 25, 2008 11:19am Nov 25, 2008 11:19am
i would not rush into longs. upper tl is still valid. imho.
  • #142,704
  • Nov 25, 2008 11:19am Nov 25, 2008 11:19am
Quoting peaches
well...

I donīt know what other traders see, but with my small knowledge about pattern , I see a high reliable daily bullish reversal pattern, a three outside up:

http://www.candlesticker.com/Cs62.asp

It is build of the daily candles from thursday, friday and monday.

Maybe other traders see this different, but...in my eye, this is a pattern, which is only hold down by the 100 % monthly fibo-level (148.20) atm.

Lets see how this develops
Your view is totally correct. I'm with you. Those daily candle formations are very bullish specially (as you mentioned) if we see another bullish candle close above that hanging man.

Though I'm not as expert as you in candlestick patterns ... I'm studying books about it.
Discipline + Patience - Fear - Greed = Success
  • #142,705
  • Nov 25, 2008 11:21am Nov 25, 2008 11:21am
Quoting pkimnyc
i would not rush into longs. upper tl is still valid. imho.
i agree there..
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #142,706
  • Nov 25, 2008 11:25am Nov 25, 2008 11:25am
Quoting malcolmb14
I am in bull camp ..

BUT 4 hour says to me loads of sellers in 148 zone.

DJ is not going to rally higher today at the moment as it is under its open range and i am selling it , so up move would not be driven by UJ.

The 4 hour cup formed a handle , the handle broke out and met strong selling.

The bullish pattern is quickly turning bearish as clearly from PA there is nothing to push it through 148 , also look at spinning doji thingy ..... nto that good at candle names but know what they mean when i see them and right now 4 hr says...

Yes, GU rallyed today, not UY. GU is on the last mothnly TL. retesting few times today.. UY is about to sink..and Gy as well.

lool since then I am playing very well today with my Fibos

EDIT: exited for another 104 pips on my Green line

http://www.doske.com/fx/snapshot-251.png
  • #142,707
  • Nov 25, 2008 11:29am Nov 25, 2008 11:29am
Quoting malcolmb14
I am in bull camp ..

BUT 4 hour says to me loads of sellers in 148 zone.

DJ is not going to rally higher today at the moment as it is under its open range and i am selling it , so up move would not be driven by UJ.

The 4 hour cup formed a handle , the handle broke out and met strong selling.

The bullish pattern is quickly turning bearish as clearly from PA there is nothing to push it through 148 , also look at spinning doji thingy ..... nto that good at candle names but know what they mean when i see them and right now 4 hr says sell...

damn I plucked all this c**p from where the sun don't shine ..lol , but the short the rallies on 5 min seems to be working just fine
Blogging daily now at www.volume.zone
  • #142,708
  • Nov 25, 2008 11:31am Nov 25, 2008 11:31am
Quoting xoiper
yeah good luck
we ll go to 148 again today or even higher

if you do ,something could run over you ,just kidding
I always knew that someday I would make it big
  • #142,709
  • Nov 25, 2008 11:32am Nov 25, 2008 11:32am
Quoting malcolmb14
damn I plucked all this c**p from where the sun don't shine ..lol , but the short the rallies on 5 min seems to be working just fine
Care to share what's the approach to short 5m rallies ? 50 ema ?
  • #142,710
  • Nov 25, 2008 11:34am Nov 25, 2008 11:34am
i am standing aside for the moment. This price action is too crazy for me. Flip a coin.

I made my pips trading against any move the price made.
  • #142,711
  • Nov 25, 2008 11:35am Nov 25, 2008 11:35am
Quoting pipidiot
Care to share what's the approach to short 5m rallies ? 50 ema ?

that one was simple

the dj came up to test its open rnage low and got rejected

at the same time the GJ came up to test 147 and formed a double top right under whole number 147.... fairly easy risk / reward trade if stop is palced just above 147 ... no indicators required .. just price action

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 22 KB
Blogging daily now at www.volume.zone
  • #142,712
  • Nov 25, 2008 11:39am Nov 25, 2008 11:39am
Quoting malcolmb14
that one was simple

the dj came up to test its open rnage low and got rejected

at the same time the GJ came up to test 147 and formed a double top right under whole number 147.... fairly easy risk / reward trade if stop is palced just above 147 ... no indicators required .. just price action

Attachment
yep
  • #142,713
  • Nov 25, 2008 11:42am Nov 25, 2008 11:42am
susfx i download your system indicators and template can u give me a link
for complete explanation of using this system plz

thank u
  • #142,714
  • Nov 25, 2008 11:44am Nov 25, 2008 11:44am
Quoting peyman
susfx i download your system indicators and template can u give me a link
for complete explanation of using this system plz

thank u

www.susufx.blogspot.com
  • #142,715
  • Nov 25, 2008 11:46am Nov 25, 2008 11:46am
Quoting malcolmb14
I am in bull camp ..

BUT 4 hour says to me loads of sellers in 148 zone.

DJ is not going to rally higher today at the moment as it is under its open range and i am selling it , so up move would not be driven by UJ.

The 4 hour cup formed a handle , the handle broke out and met strong selling.

The bullish pattern is quickly turning bearish as clearly from PA there is nothing to push it through 148 , also look at spinning doji thingy ..... nto that good at candle names but know what they mean when i see them and right now 4 hr says sell...
all that because the fast move today early it just need time for everything to settle down and then continuing up again
  • #142,716
  • Nov 25, 2008 11:50am Nov 25, 2008 11:50am
Quoting xoiper
all that because the fast move today early it just need time for everything to settle down and then continuing up again

maybe ..... but dj very weak today and when equities weak money moved in to bonds making usd stronger ... also Uj not that strong
Blogging daily now at www.volume.zone
  • #142,717
  • Nov 25, 2008 11:52am Nov 25, 2008 11:52am
Dow -99 and GJ still hanging on. I guess they only correlate 54% of the time.
  • #142,718
  • Nov 25, 2008 11:54am Nov 25, 2008 11:54am
we're gonna crash soon
  • #142,719
  • Nov 25, 2008 11:55am Nov 25, 2008 11:55am
my earliar posts form lilmoe thread:

http://www.forexfactory.com/showpost...5&postcount=52

http://www.forexfactory.com/showpost...2&postcount=53

now, we are testing the last monthly TL [Blue line], if we close above, for sure is a very bulish sign, but if we bounce from there, then we are going in highest gear to visit 141 and beyond. that is the key level.

As for UY, not much use from lool trading bellow DPP, and DS1

http://www.doske.com/fx/snapshot-252.png
  • #142,720
  • Nov 25, 2008 11:56am Nov 25, 2008 11:56am
and close another 45 pips form my FIB's level
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