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

  • #147,441
  • Dec 8, 2008 8:33pm Dec 8, 2008 8:33pm
Quoting sohail212
Price didn't break 1 hour 50ema. So are we still considering bull side?

Thanks for your help.
There is no Volume, so a little confusing to me. It shure bounced off it, but not much of the buyers stepped in.
  • #147,442
  • Dec 8, 2008 8:40pm Dec 8, 2008 8:40pm
none of my long get hit by night rather great loss so far but I think arround this level it will try hit the target above .In daily chart stoch up, qqe turning up,repeated bullish diversion from yesterday;in h4 chart qqe about to cross up,momentum up,stoch down but slow one wide up,gann below pa ;in h1 stoch up,slow stoch still down,qqe crossed down;in m30 tf fresh bullish diversion & stoch up,slow one still down;in m15 tf ,stoch up,qqe pointing up , slow stoch about to finish.

After all there is a major support below arround 136.79 , not yet broken.and an impulse wave can't be aborted this way ( seems wave iv consolidation is almost over) ,at least double top expected at 140.73 or more before any substantial down .

Waiting my long hit ,first target 139.500.

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #147,443
  • Dec 8, 2008 8:43pm Dec 8, 2008 8:43pm
Quoting Piters
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
This is interesting, 15min TL and 1 hour 50 ema are same.

I was thinking of going to bed but I guess not that easily.

Thanks guys.
  • #147,444
  • Dec 8, 2008 8:50pm Dec 8, 2008 8:50pm
Quoting fontu
none of my long get hit by night rather great loss so far but I think arround this level it will try hit the target above .In daily chart stoch up, qqe turning up,repeated bullish diversion from yesterday;in h4 chart qqe about to cross up,momentum up,stoch down but slow one wide up,gann below pa ;in h1 stoch up,slow stoch still down,qqe crossed down;in m30 tf fresh bullish diversion & stoch up,slow one still down;in m15 tf ,stoch up,qqe pointing up , slow stoch about to finish.

After all there is a major support below arround 136.79 , not yet...
I would usually agree but I really can't see the move from 133.5 - 137 then from 136.2 - 140.8 as impulsive. Impulsive carry swings are usually shown by a slow progression as more and more buyers become confident over time about economic prospects. This is especially not-evident in the second swing when the price rose from 137-140 in 1 hour without any immediate news release. All i'm seeing smacks of bear market rally generated purely by the potential outlook of massive future bailouts and an infrastructure plan that is atm still barely visible on the sketch pad.

One thing that is certain however is that with such low volumes you can be sure there will be large fakeouts and volatility to stop out many traders.
  • #147,445
  • Dec 8, 2008 8:52pm Dec 8, 2008 8:52pm
Quoting pipsbull
There is no Volume, so a little confusing to me. It shure bounced off it, but not much of the buyers stepped in.
do u agree price did not break 1 hr 50ema, cos that was broken about an hr ago but didn;t close below it. so lets be clear about it. thanks.
  • #147,446
  • Dec 8, 2008 9:05pm Dec 8, 2008 9:05pm
Quoting dialpips
do u agree price did not break 1 hr 50ema, cos that was broken about an hr ago but didn;t close below it. so lets be clear about it. thanks.
Sure, but there are some definitions of the breakouts! I call a breakout when the price closes below/above a certain level (much better - when there is a retest), then the volume should also show that it was a true one. Some traders use a percentage of which it managed to go down/up the certain level. Looking at 1hr chart it is hard to call it a breakout. But if you check the 4hr chart you can notice how price slashed the 50 ema, but never closed above it. I am sure there were traders who became sonfident in a "solid breakout" and got slammed
  • #147,447
  • Dec 8, 2008 9:13pm Dec 8, 2008 9:13pm
Target 1 is hit. Target 2 is still valid i think coz the CCI just cross the 0 line.
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  • #147,448
  • Dec 8, 2008 9:13pm Dec 8, 2008 9:13pm
Quoting Eulogy
...One thing that is certain however is that with such low volumes you can be sure there will be large fakeouts and volatility to stop out many traders.
Totally agree. Closed GY and Ej shorts on the inability or unwillingness (does it really matter which?) to break current support at 137.50 and 119.30.

While I'm not a fan of short TF patterns like this, it certainly looks like a mini inverted shampoo on the 5m and 15m on both pairs. Locking my pips up and knocking off before I give them back.

Now that I'm closed of course, that clears the way for it to drop.

Enjoy and g'nite. Careful trades all.
FUBAR...
  • #147,449
  • Dec 8, 2008 9:19pm Dec 8, 2008 9:19pm
Quoting pipsbull
Sure, but there are some definitions of the breakouts! I call a breakout when the price closes below/above a certain level (much better - when there is a retest), then the volume should also show that it was a true one. Some traders use a percentage of which it managed to go down/up the certain level. Looking at 1hr chart it is hard to call it a breakout. But if you check the 4hr chart you can notice how price slashed the 50 ema, but never closed above it. I am sure there were traders who became sonfident in a "solid breakout" and got slammed
thanks. i was actually not talking of a breakout but just a break or violation of the 50ema. however, i think it is clearer now.

the 1hr 50ema is proving a strong support. and price is getting tighter. we should see a breakout soon. up or down?, anyone?
  • #147,450
  • Dec 8, 2008 9:19pm Dec 8, 2008 9:19pm
could be setting up as inverse h & s with neckline 137.90

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  • #147,451
  • Dec 8, 2008 9:26pm Dec 8, 2008 9:26pm
Quoting malcolmb14
could be setting up as inverse h & s with neckline 137.90

Attachment
inverted shampoo invalidated i think with this drop
  • #147,452
  • Dec 8, 2008 9:28pm Dec 8, 2008 9:28pm
Quoting Eulogy
inverted shampoo invalidated i think with this drop

yes still have short on

no rsi long trigger yet on 3 min

may reach 137 . Short entry was 137.6

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  • #147,453
  • Dec 8, 2008 9:46pm Dec 8, 2008 9:46pm
Quoting Mr.Sabah
Target 1 is hit. Target 2 is still valid i think coz the CCI just cross the 0 line.
maybe. i would play it tight.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #147,454
  • Dec 8, 2008 9:48pm Dec 8, 2008 9:48pm
Quoting DivePIPS
From CNNMONEY.com

Automaker plan in Bush's court

GM and Chrysler could get a total of $15 billion by Dec. 15 as part of a proposed bailout. Plan now under White House review.
and obama has a plan out as well i believe. i knew they would slip something into the pie. bad thing is there though good money into bad money..
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #147,455
  • Dec 8, 2008 9:50pm Dec 8, 2008 9:50pm
Quoting ak4x
Totally agree. Closed GY and Ej shorts on the inability or unwillingness (does it really matter which?) to break current support at 137.50 and 119.30.

While I'm not a fan of short TF patterns like this, it certainly looks like a mini inverted shampoo on the 5m and 15m on both pairs. Locking my pips up and knocking off before I give them back.

Now that I'm closed of course, that clears the way for it to drop.

Enjoy and g'nite. Careful trades all.
I missed this trade because of the low volume. Had a limit order at 137,79, but canceled. I guess when there is low liquidity, I can just have a smaller SL...
  • #147,456
  • Dec 8, 2008 10:00pm Dec 8, 2008 10:00pm
Quoting pipsbull
I missed this trade because of the low volume. Had a limit order at 137,79, but canceled. I guess when there is low liquidity, I can just have a smaller SL...

Asia is always like this ... low volume

I was sitting here messing with a new indicator , noticed trend was down ., got sell trigger and took the trade as it passed under 137.60

was lucky , closed on whole number 137

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  • #147,457
  • Dec 8, 2008 10:09pm Dec 8, 2008 10:09pm
Quoting ak4x
Now that I'm closed of course, that clears the way for it to drop.
x 10 =

Had to come back and take one last peek at charts before shutting down... what a self fulfilling hoot that was.

Didn't give any back tho...
FUBAR...
  • #147,458
  • Dec 8, 2008 10:13pm Dec 8, 2008 10:13pm
Quoting ak4x
x 10 =

Had to come back and take one last peek at charts before shutting down... what a self fulfilling hoot that was.

Didn't give any back tho...
I'm hoping for even more of a drop to come. the GBP has traded strangely today. Out of all the carry currencies this one has come out on top for some unknown reason today.
  • #147,459
  • Dec 8, 2008 10:16pm Dec 8, 2008 10:16pm
Quoting ak4x
x 10 =

Had to come back and take one last peek at charts before shutting down... what a self fulfilling hoot that was.

Didn't give any back tho...
So soorry you didn't get in on the action, but I appreciate your nudging the Geppy off to cliff. Well, more like pushing it down a gentle slope....

Glad you didn't give any back to the beast though. Profit is profit. There's plenty more where it came from....
  • #147,460
  • Dec 8, 2008 10:18pm Dec 8, 2008 10:18pm
rsx is modified rsi ...

it has bullish div 15 min right on the trend line ... could be interesting London session again pushing back into 140 / 141 based on 1-2-3 buy formation FEs

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