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

  • #143,141
  • Nov 26, 2008 4:13am Nov 26, 2008 4:13am
Quoting forexlion
Kar-mo, little-mo, serendi-mo, tiger-mo

what is your read on GJ now
a close below 4h gann, 4h 50ema, 1h 50ema, puts 141.50 on the table for me
Trade what you see, not what you think.
  • #143,142
  • Nov 26, 2008 4:18am Nov 26, 2008 4:18am
Hello Limoe,
great idea!!!!!!
....I got married with more money then I have NOW, now I have less, she wants to divorce.this days ..
I think money talks in some cases...
Quoting lilmoe
hey there pite!

and NO, i'm not getting married
  • #143,143
  • Nov 26, 2008 4:19am Nov 26, 2008 4:19am
Quoting lilmoe
hey there pite!

and NO, i'm not getting married
don't forget, BIG SISTER is watching
  • #143,144
  • Nov 26, 2008 4:23am Nov 26, 2008 4:23am
Quoting capetown
Hello Limoe,
great idea!!!!!!
....I got married with more money then I have NOW, now I have less, she wants to divorce.this days ..
I think money talks in some cases...
word
  • #143,145
  • Nov 26, 2008 4:45am Nov 26, 2008 4:45am
i long 146.20 sl 145.50 tp 150 and i want 1h close above 147
  • #143,146
  • Nov 26, 2008 4:46am Nov 26, 2008 4:46am
Quoting xoiper
i long 146.50 sl 145.50 tp 150 and i want 1h close above 147
pound weakens since 1hr against other currencies. jpy strength still above 0. wouldn't wanna buy a weak currency. imho too early for buying.
  • #143,147
  • Nov 26, 2008 4:50am Nov 26, 2008 4:50am
long stopped out.
  • #143,148
  • Nov 26, 2008 4:56am Nov 26, 2008 4:56am
Quoting karmostaji
a close below 4h gann, 4h 50ema, 1h 50ema, puts 141.50 on the table for me

Karmo is bearish for quite sometime and most of t time...

Sonic
  • #143,149
  • Nov 26, 2008 4:56am Nov 26, 2008 4:56am
Karmo was mentioning H&S earlier on. It'd be a push to call this pattern a H&S but it is possible. Many people just look at the peaks and see a high followed by a higher high followed by a lower hig. These are important parts of the pattern but the lower trendline or "neckline" is crucial too. It doesn't have to be horizontal, it can slope. But the steeper it slopes the more the likelihood of a false breakout.

In this case the pattern would have been more reliable if the left trough (immediately preceding the head) hadn't gone much below 141.50, or if the right trough (immediately following the head) had dipped to to 143.80. Drawing a TL between the two trough points creates a very steep angle (indeed, it is the clearly visible hourly TL) which makes this a weak h&s pattern at best. Add the fact that the head itself is not significantly higher than the left shoulder and I would not consider this a strong H&S signal.

The key visual on the 1h chart is the lower trendline. An appropriate sell signal for a H&S pattern is the breach of the neckline which realy amounts to the same thing in this instance as watching that 1H TL for a breakout and possible pullback to test.

For a really good chapter on H&S formations try Martin Pring's book Pring on Price Patterns.
  • #143,150
  • Nov 26, 2008 4:59am Nov 26, 2008 4:59am
Quoting Dr.Geppynius
pound weakens since 1hr against other currencies. jpy strength still above 0. wouldn't wanna buy a weak currency. imho too early for buying.
pound should start strength now it is very bullish
  • #143,151
  • Nov 26, 2008 5:01am Nov 26, 2008 5:01am
Quoting xoiper
pound should start strength now it is very bullish
i suppose you have your head flipped upside down
where is pound bullish right now?
later on possibly.

how do you determine strength and weakness?
  • #143,152
  • Nov 26, 2008 5:03am Nov 26, 2008 5:03am
Quoting forexlion
Kar-mo, little-mo, serendi-mo, tiger-mo

what is your read on GJ now
err your not calling me tiger-mo now are u FXLion?

right now, no confirmation atm since the beast is stuck in boring mode but everything i'm looking at is pointing down. Unless they shovel a few hundred more billion into the market tonight, the dow should fall dragging the beast with her

Jobless claims in 2.5 hours, should be interesting
  • #143,153
  • Nov 26, 2008 5:04am Nov 26, 2008 5:04am
Quoting TiaForex
Karmo was mentioning H&S earlier on. It'd be a push to call this pattern a H&S but it is possible. Many people just look at the peaks and see a high followed by a higher high followed by a lower hig. These are important parts of the pattern but the lower trendline or "neckline" is crucial too. It doesn't have to be horizontal, it can slope. But the steeper it slopes the more the likelihood of a false breakout.

In this case the pattern would have been more reliable if the left trough (immediately preceding the head) hadn't gone much below 141.50,...
Thanks for the clarification

I've ordered that book from amazon already, it should be on it's way
Trade what you see, not what you think.
  • #143,154
  • Nov 26, 2008 5:07am Nov 26, 2008 5:07am
Quoting Dr.Geppynius
i suppose you have your head flipped upside down
where is pound bullish right now?
later on possibly.

how do you determine strength and weakness?
man u need glasses above 1.53 is bullish
  • #143,155
  • Nov 26, 2008 5:10am Nov 26, 2008 5:10am
Quoting xoiper
man u need glasses
just answer my question...

aah above 1.53, is just above the pivot but has nothing to do with bullish or bearish.
  • #143,156
  • Nov 26, 2008 5:13am Nov 26, 2008 5:13am
Quoting Dr.Geppynius
just answer my question...

aah above 1.53, is just above the pivot but has nothing to do with bullish or bearish.
hunting stop before bull just wait any way i hav sl
  • #143,157
  • Nov 26, 2008 5:14am Nov 26, 2008 5:14am
Quoting xoiper
man u need glasses above 1.53 is bullish
he's asking for the reason u're so bullish.... analysis that is... not just a post of how u "think" the market will go.
  • #143,158
  • Nov 26, 2008 5:14am Nov 26, 2008 5:14am
Quoting xoiper
hunting stop before bull just wait any way i hav sl
lol yeah, whatever
  • #143,159
  • Nov 26, 2008 5:16am Nov 26, 2008 5:16am
The big trend is down.

I'm just saying..

now they're all gonna start arguing with me lol
Trade what you see, not what you think.
  • #143,160
  • Nov 26, 2008 5:17am Nov 26, 2008 5:17am
Quoting xoiper
hunting stop before bull just wait any way i hav sl
I'm hungry, ur SL should be a good meal, thx
Trade what you see, not what you think.
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