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

  • #147,421
  • Dec 8, 2008 6:33pm Dec 8, 2008 6:33pm
Quoting OrionsWay
Both yen and cable daily are turning bullish, not sure how geppy can go down in such an setup

But good luck with that Moe
a pin bar on the daily, a failure to close above 93 which is also a FE 61.8, and CCI broke a trendline downwards and still is below the -100 line.

UJ made a 78.6 retracement from the fall of 103 to 91, we closed back below 23.6% last week, and today 23.6% was retested and is now acting as resistance.

now where exactly is the bullish setup in all that? just saying things are bullish dont make them so bro. please show me a conventional chart with convincing bullish setup that show a breakout to prove what u're saying....

GJ failed to close above a daily trendline today. if i see that trendline broken, i'll automatically change my bias to bearish. here's a rule u might find profitable in the future. a bearish trendline (or a leading indicator) is sold each time it's touched, unless broken with confirmation.

sometimes everyone here doesn't make sense.

again, if a we close above that daily trendline, u guys will see me among the first to buy on dips...

here's a chart for UJ... tell me what's bullish about it as of now plz.

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  • #147,422
  • Dec 8, 2008 6:35pm Dec 8, 2008 6:35pm
that doji/pinbar on dollar yen doesn't look so bullish to me on the daily chart.
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"Don't trade to trade . . . trade to win." - James16
  • #147,423
  • Dec 8, 2008 6:38pm Dec 8, 2008 6:38pm
Quoting lilmoe
a pin bar on the daily, a failure to close above 93 which is also a FE 61.8 and CCI broke a trendline and still is below the -100 line.

UJ made a 78.6 retracement from the fall of 103 to 91, we closed back below 23.6% last week, and today 23.6% was retested and is now acting as resistance.

now where exactly is the bullish setup for that? just saying things are bullish dont make them so bro. please show me a conventional chart with a bullish setup that show a breakout to prove what u're saying....

GJ failed to close above a daily trendline...

well looking at your cci ... sweet double bottom on the indie ...last few days ... you got a classic W on the indie. That alone is now supporto n the indicator and unless that is broken no going down.

The sell off in the YM was of interest today .. when I get back home will study the old charts
Blogging daily now at www.volume.zone
  • #147,424
  • Dec 8, 2008 6:49pm Dec 8, 2008 6:49pm
Yea, just a hunch, prolly will be wrong
"Millionaires don't use astrology, billionaires do"
  • #147,425
  • Dec 8, 2008 6:55pm Dec 8, 2008 6:55pm
Quoting malcolmb14
well looking at your cci ... sweet double bottom on the indie ...last few days ... you got a classic W on the indie. That alone is now supporto n the indicator and unless that is broken no going down.

The sell off in the YM was of interest today .. when I get back home will study the old charts
no breakout... no up... no close back above FE 61.8... no up.

i'll wait for tomorrows close and see how things turn out to be for UJ. same goes for GU... when i see a daily close above 1.5 - 1.51, i'll think about that reversal. and as for YM, when i see a close above daily 50ema, i'll think about that other reversal...

i'm tired now, i'm going for a nap, haven't slept since market open.

good trading today guys, and see u later..
  • #147,426
  • Dec 8, 2008 6:58pm Dec 8, 2008 6:58pm
Quoting lilmoe
a pin bar on the daily, a failure to close above 93 which is also a FE 61.8, and CCI broke a trendline downwards and still is below the -100 line.

UJ made a 78.6 retracement from the fall of 103 to 91, we closed back below 23.6% last week, and today 23.6% was retested and is now acting as resistance.

now where exactly is the bullish setup in all that? just saying things are bullish dont make them so bro. please show me a conventional chart with convincing bullish setup that show a breakout to prove what u're saying....

GJ failed to close above...
if everyone adhered to their trendlines we'd all be millionaires... but, what the hell do i know? i sell bottoms and buy tops .

I agree though, daily trendline has been intact this hole time and the price looks toppy every time it even gets close to it, until we bust through it with some power we're going to see new lows...

Pred

...if only i had the patience to hold on to all my shorts until that TL was broken...ugh
  • #147,427
  • Dec 8, 2008 7:59pm Dec 8, 2008 7:59pm
Quoting Mr.Sabah
Woke up this morning and target is hit. Now looking for new target
nice chart and interesting usage of tl bro.
  • #147,428
  • Dec 8, 2008 8:12pm Dec 8, 2008 8:12pm
The Gann and QQE turned bearish!
I will look for the 138,15 level for short. Because there is 50ema + previous support line, which is already broken and now should work as resistance + good risk reward ratio, having the SL above 138,50 - previous resistance. Let's see if the entrance will be available...
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  • #147,429
  • Dec 8, 2008 8:23pm Dec 8, 2008 8:23pm
Quoting pipsbull
The Gann and QQE turned bearish!
I will look for the 138,15 level for short. Because there is 50ema + previous support line, which is already broken and now should work as resistance + good risk reward ratio, having the SL above 138,50 - previous resistance. Let's see if the entrance will be available...
I trade with different indicators , but I see it turning bearish too.
  • #147,430
  • Dec 8, 2008 8:23pm Dec 8, 2008 8:23pm
Quoting pipsbull
The Gann and QQE turned bearish!
I will look for the 138,15 level for short. Because there is 50ema + previous support line, which is already broken and now should work as resistance + good risk reward ratio, having the SL above 138,50 - previous resistance. Let's see if the entrance will be available...
i hope it doesnt even get that high pit bull but we shall see
  • #147,431
  • Edited 10:26pm Dec 8, 2008 8:32pm | Edited 10:26pm
Quoting lilmoe

here's a chart for UJ... tell me what's bullish about it as of now plz.

Attachment
Don't know for UY ... (haven't done my homework) YET my friend, but let me help you, this chart looks to me very BEARISH.

2 rejections from +100 level on CCI, implicate testing the next support to the down side, and forming our famous formation. Penetration and only close well below 1.440 level, and we Switch ON our lady to Play. Then price projection is well bellow 1.40 mark,to be more precise 1.3790 and 1.3320. But first we have to let this monster to play Out [IF]. that's about 1000 - 1500 pips to downside.

Patience

***********************************************************************
WARNING: watch closely this scenario, and play, do not take any positions before confirmation
***********************************************************************
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  • #147,432
  • Dec 8, 2008 8:54pm Dec 8, 2008 8:54pm
Ok, UY, but still guys all of this is Hypothetical:

I don't want to show you my lowest price: Goes to 64.40

Chart:
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  • #147,433
  • Dec 8, 2008 8:55pm Dec 8, 2008 8:55pm
Quoting Piters
Ok, UY, but still guys all of this is Hypothetical:

I don't want to show you my lowest price: Goes to 64.40

Chart:

Scary...just makes you wonder what type of world we are heading down to.
  • #147,434
  • Dec 8, 2008 8:58pm Dec 8, 2008 8:58pm
Quoting cheese
Scary...just makes you wonder what type of world we are heading down to.
BRO, that is what CHARTS are saying, However, all this patterns are on Higher TF, mean, we need some time to play out or Not. However on Lower TF like 1H, 30min, we might see a retrace, and visit some Upper levels, to collect the sellers frome there. I am just trying to show you what I see..
  • #147,435
  • Dec 8, 2008 9:04pm Dec 8, 2008 9:04pm
and the final One.
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  • #147,436
  • Edited 10:23pm Dec 8, 2008 9:12pm | Edited 10:23pm
Again, many of you are not sharing my ideas. But that's what is a beauty of this forum, to see diferent points, and perspectives: (Bird's and Frog's perspective). This is what my charts tells me on long RUN.

GY: If my fellow traders agree that 140.90 was the last High before the next drop or leg down, that even this scenario is more likely on play, and yhen the critical Point in this case is level 132.30.

However, again, we all have to be very, very careful: We are on very low levels, and any time, Out from the BLUE, we can see some intervention in 300-500 pips Up and Down. so stick to your charts, and systems, and follow your GUTS

Cheers
  • #147,437
  • Dec 8, 2008 9:17pm Dec 8, 2008 9:17pm
Quoting Piters
Again, many of you are not sharing my ideas. But that's what is beauty of this forum, to see diferent points, and perspective: (Bird's and Frog's perpective). This is what my charts tells me on long RUN.

To GY: If my fellow traders agree that 140.90 was the last High before the next drop or leg down, that even this scenario is more likely on play, and the critical Point in this case is level 132.30.

However, again, we all have to be very, very careful: We are on very low levels, and any time, Out from the BLUE, we...
  • #147,438
  • Dec 8, 2008 9:18pm Dec 8, 2008 9:18pm
Quoting Piters
BRO, that is what CHARTS are saying, However, all this patterns are on Higher TF, mean, we need some time to play out or Not. However on Lower TF like 1H, 30min, we might see a retrace, and visit some Upper levels, to collect the sellers frome there. I am just trying to show you what I see..

I understand what you are saying completely. Even at these levels, it is quite scary to think how fast we have arrived here, and where we are headed. The charts speak to us, but its an effect of what has been caused through fundamental failures, errors and greed which produced fear within our markets.
  • #147,439
  • Dec 8, 2008 10:26pm Dec 8, 2008 10:26pm
Price didn't break 1 hour 50ema. So are we still considering bull side?

Thanks for your help.
  • #147,440
  • Dec 8, 2008 10:31pm Dec 8, 2008 10:31pm
Quoting sohail212
Price didn't break 1 hour 50ema. So are we still considering bull side?

Thanks for your help.
Yes, you are right, the price didn't break 50 ema on 1H tf, but bellow DPP and 1H gann. We are Here, have a look @ the 15miin chart bellow. we move from the upper TL to the lower (which is the same level as 50 ema on 1H), we are going to see some breakout to UP or Down side soon
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