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

  • #146,321
  • Dec 4, 2008 10:59pm Dec 4, 2008 10:59pm
where do you see the LTL at ? 134.75 area to break?

Quoting arezab
Excellent eyes PK! On break of 15M LTL I'll enter fresh shorts.
  • #146,322
  • Dec 4, 2008 11:07pm Dec 4, 2008 11:07pm
Thanks for the feedback...I am not big on HD...I know many traders used them and they work great...I will study more about this technique..




Quoting arezab
Nope! If you mean the last 3 higher lows on your MACD, that is a classic bullish divergence. BTW I don't see any bearish HD here with your TL's but if you look at moving average of oscillator of your MACD carefully, you will see a bearish HD!

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  • #146,323
  • Dec 4, 2008 11:09pm Dec 4, 2008 11:09pm
pkimnyc

it looks like it goes down and then goes up again before the collapse based on your pattern. am i seeing it wrong?


also where do you see the LTL at on the 15m. i am seeing around 134.75 area?
thanks

Serendipity

Quoting pkimnyc
  • #146,324
  • Dec 4, 2008 11:14pm Dec 4, 2008 11:14pm
Quoting Serendipity
pkimnyc

it looks like it goes down and then goes up again before the collapse based on your pattern. am i seeing it wrong?


also where do you see the LTL at on the 15m. i am seeing around 134.75 area?
thanks

Serendipity
today's market conditions are worse than worst.

we have a 4 hour bear trend which can turn anytime, or just continue down

and we have a daily confirmed down trend.
  • #146,325
  • Dec 4, 2008 11:18pm Dec 4, 2008 11:18pm
forexlion

do you think this will retrace a bit to 137.70 or 138.25 area? not sure if it has the strength but then u neve know london boys

Quoting forexlion
today's market conditions are worse than worst.

we have a 4 hour bear trend which can turn anytime, or just continue down

and we have a daily confirmed down trend.
  • #146,326
  • Dec 4, 2008 11:32pm Dec 4, 2008 11:32pm
Quoting Serendipity
where do you see the LTL at ? 134.75 area to break?
135.50 ... I'm short now. My sl is above that TL just in case.
Discipline + Patience - Fear - Greed = Success
  • #146,327
  • Dec 4, 2008 11:34pm Dec 4, 2008 11:34pm
Quoting Serendipity
forexlion

do you think this will retrace a bit to 137.70 or 138.25 area? not sure if it has the strength but then u neve know london boys
if 135.11 breaks then further down, if it keeps holding then sideways.
  • #146,328
  • Dec 4, 2008 11:36pm Dec 4, 2008 11:36pm
taken from actionforex

Quote
GBP/JPY's fall from 148.57 is still in progress and at this point, intraday bias remains on the downside as long as 139.74 minor resistance holds. Further decline is expected to 200% projection of 215.87 to 184.47 from 197.42 at 134.62 next. On the upside, above 139.74 will turn intraday outlook neutral first but recovery should be limited below 148.57 resistance and bring fall resumption.

In the bigger picture, while there are some interpretations of the structure of the whole decline from 215.87, such decline should remain in progress as long as 165.97 support turned resistance holds. Sustained trading below 139.02 low will confirm that whole down fall from 215.87 has resumed and towards 129.32 key long term level (95 low). On the upside, above 148.57 resistance will argue that consolidation from 139.02 is still in progress and another rise could be seen before completion. Though, medium term outlook will remain bearish as long as 165.02 resistance holds.
  • #146,329
  • Dec 4, 2008 11:37pm Dec 4, 2008 11:37pm
Quoting forexlion
if 135.11 breaks then further down, if it keeps holding then sideways.
yep 135.12 was the asian session low. Once broken, down we go
  • #146,330
  • Dec 4, 2008 11:39pm Dec 4, 2008 11:39pm
There is a serious bullish div on the 4h chart which I think could play out tomorrow. That would probably take us to 4h 50 ema (around 140 area) ..
  • #146,331
  • Dec 4, 2008 11:43pm Dec 4, 2008 11:43pm
Quoting rgitt05
Thanks for the feedback...I am not big on HD...I know many traders used them and they work great...I will study more about this technique..

They are easy to learn. Simply put if you see a TL on price chart deviate from it's mirrored TL on oscillator i.e they are in opposite angle to each other, this is a divergence. Very simple.

If you go to babypips.com you can find fairly nice illustration of different type of divergences there.

Cheers
Discipline + Patience - Fear - Greed = Success
  • #146,332
  • Dec 4, 2008 11:51pm Dec 4, 2008 11:51pm
Quoting forexlion
today's market conditions are worse than worst.

we have a 4 hour bear trend which can turn anytime, or just continue down

and we have a daily confirmed down trend.
Do not know what is worst of the worst , it just go either up or down .The condition of all brains behind it can be in worst condition right now like me puzzled a little to see the bear strength a little ,just to go at 134 level since last evening here but failed to go below 135.26 so . This morning also it tried but failed allegedly.
Perhaps this small breaks can't serve any good movements , now I think it to go above 4hr gann to finally break much down & better I to close shorts & ready for long soon if no green by this time .By the way I see bullish diversion in h4
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #146,333
  • Dec 5, 2008 12:03am Dec 5, 2008 12:03am
Quoting mktjong
There is a serious bullish div on the 4h chart which I think could play out tomorrow. That would probably take us to 4h 50 ema (around 140 area) ..
tomorrow or monday is another reversal date. might turn around after making a new low?
  • #146,334
  • Dec 5, 2008 12:05am Dec 5, 2008 12:05am
Quoting pkimnyc
tomorrow or monday is another reversal date. might turn around after making a new low?
No, I meant Friday ..
  • #146,335
  • Dec 5, 2008 12:05am Dec 5, 2008 12:05am
Is this the Bullish Div on the 4hr GJ?




Quoting mktjong
There is a serious bullish div on the 4h chart which I think could play out tomorrow. That would probably take us to 4h 50 ema (around 140 area) ..
Attached Image (click to enlarge)
Click to Enlarge Name: 4hrgj.gif Size: 25 KB
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  • #146,336
  • Dec 5, 2008 12:08am Dec 5, 2008 12:08am
Quoting rgitt05
Is this this the Bullish Div on the 4hr GJ?

.. yup ..
  • #146,337
  • Dec 5, 2008 12:09am Dec 5, 2008 12:09am
Quoting Serendipity
pkimnyc

it looks like it goes down and then goes up again before the collapse based on your pattern. am i seeing it wrong?


also where do you see the LTL at on the 15m. i am seeing around 134.75 area?
thanks

Serendipity
that might be the most probable scenario.

ltl depends on how you draw your tl, but mine is @ 135.25.
  • #146,338
  • Dec 5, 2008 12:10am Dec 5, 2008 12:10am
If price is near the upper trendline, and we see a rising volume,
then the traders are interested in breaking the upper trend line.

If price is moving to the lower trendline, and we see a falling volume,
then there is no interest in breaking the lower trendline to the low.
If it breaks (with a rising volume), we fall lower, maybe 130. But maybe not this week

Dr. "Volume" Geppynius may verify the volume
Attached Image (click to enlarge)
Click to Enlarge Name: geppy.gif Size: 17 KB
  • #146,339
  • Dec 5, 2008 12:13am Dec 5, 2008 12:13am
Quoting peaches
If price is near the upper trendline, and we see a rising volume,
then the traders are interested in breaking the upper trend line.

If price is moving to the lower trendline, and we see a falling volume,
then there is no interest in breaking the lower trendline to the low.
If it breaks (with a rising volume), we fall lower, maybe 130. But maybe not this week

Dr. "Volume" Geppynius may verify the volume
yeah, we need a doctor.
  • #146,340
  • Dec 5, 2008 12:19am Dec 5, 2008 12:19am
I have a feeling it may playout because the market will stall because of the Big 3 bailout monday..IMHO If not, Merry X-mas to pips friday or the weekend....



Quoting mktjong
.. yup ..
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