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

  • #155,981
  • Jan 26, 2009 10:08pm Jan 26, 2009 10:08pm
Quoting Eulogy
i think he means its a retest of the neckline before another wave down.
but neckline of what? there is no valid h&s, correct h&s has to be reversal of a trend, it's down trend, it should be inverted h&s..so that neckline can't be right. That line should be more like bottom trend line of previous wave become resistant/test spot?
  • #155,982
  • Jan 26, 2009 10:10pm Jan 26, 2009 10:10pm
Quoting Eulogy
i think he means its a retest of the neckline before another wave down.
YES, my friend.. exactly.. I am going to post few posts here for H/S and how they are play. H/S is very powerful continuation and reversal pattern..
  • #155,983
  • Jan 26, 2009 10:11pm Jan 26, 2009 10:11pm
Some EW gymnastic: Here where we are...
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  • #155,984
  • Jan 26, 2009 10:25pm Jan 26, 2009 10:25pm
Quoting Piters
Some EW gymnastic: Here where we are...
the only problem i have with that 4th wave up is that most of the time, the 4th wave is not that well defined. Usually it consists of many false breakout and tends to hang around the top for a relatively long time frustrating most sellers betting on the 5th wave. Its very rare to see a 4th wave straight up, virtually no retracements breaking down immediately after touching its apex.
  • #155,985
  • Jan 26, 2009 10:28pm Jan 26, 2009 10:28pm
Head and Shooulders, or another approach, if you will. different then EW.

We break that trend line on 20 January, we made a new low, and now we are back to retest the neckline. so far we stop @ 50 ema [4h], but theoreticaly we can go up to 127.20 mentioned few times as a possible target for this Up move.. (also FE target). It is important to watch those two levels, 50ema [4h] and retest [127.20].

We cannot predict where the market can go, but with some tools we can always see short term where and how market moves. Still there is a lot of IF... THEN.... ELSE....

I am just letting you know for possibilities, and what we could exxpect from Technical analysis perspective.. (my View)

The next target (IF) we bounce from 50ema or Neckline, could be a level @ 117.20

my chart:
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  • #155,986
  • Edited 11:04pm Jan 26, 2009 10:29pm | Edited 11:04pm
Quoting Eulogy
the only problem i have with that 4th wave up is that most of the time, the 4th wave is not that well defined. Usually it consists of many false breakout and tends to hang around the top for a relatively long time frustrating most sellers betting on the 5th wave. Its very rare to see a 4th wave straight up, virtually no retracements breaking down immediately after touching its apex.
I agree, the most unrealiable one... lol (btw, we are still in that 4th wave.. )
  • #155,987
  • Jan 26, 2009 10:45pm Jan 26, 2009 10:45pm
Quoting mirex
but neckline of what? there is no valid h&s, correct h&s has to be reversal of a trend, it's down trend, it should be inverted h&s..so that neckline can't be right. That line should be more like bottom trend line of previous wave become resistant/test spot?
Here are 2 types of H/S I am trading my friend.. Just made those two drawings for you..
Attached Images
  • #155,988
  • Jan 26, 2009 11:02pm Jan 26, 2009 11:02pm
so looking at the hourly chart....we either go back to a test of around 2450 or we push through that previous resistance of about 2625 from 1-20
if so i feel 2800 will come real fast.
--post hoc ergo propter hoc--
  • #155,989
  • Jan 26, 2009 11:16pm Jan 26, 2009 11:16pm
here we go....maybe
--post hoc ergo propter hoc--
  • #155,990
  • Jan 26, 2009 11:22pm Jan 26, 2009 11:22pm
Quoting Monk
here we go....maybe

I need this run soooo bad. Geppy has chewed my ass all week, 127.60 is the least she can do. It's like she locked me out of the house after a bad fight and I'm beggin to get back in. I'll be happy with the couch, just let me in.
What's that smell?
  • #155,991
  • Jan 26, 2009 11:22pm Jan 26, 2009 11:22pm
127.25 is 50% retrace of last move down on daily..that's my target.
  • #155,992
  • Jan 26, 2009 11:24pm Jan 26, 2009 11:24pm
Pete : To close long or open short?
Dr. C
  • #155,993
  • Jan 26, 2009 11:25pm Jan 26, 2009 11:25pm
Quoting cvcamper
To close long or open short?
will close most if not all long at 127.25 depending on pa.
  • #155,994
  • Jan 26, 2009 11:27pm Jan 26, 2009 11:27pm
Thanks Piters, I learned a lot.
  • #155,995
  • Jan 26, 2009 11:31pm Jan 26, 2009 11:31pm
hmmm, I don't like it. Closed longs. Could be to early but wanted to bank it.
Whole numbers (xxx.00) have been a bitch to break this week.
  • #155,996
  • Jan 26, 2009 11:36pm Jan 26, 2009 11:36pm
Crucial time approaching. 50ema on 4hr chart being kissed. A bounce from here is likely....
  • #155,997
  • Jan 26, 2009 11:38pm Jan 26, 2009 11:38pm
Just 60 more pips pleeeeaaase. I need to buy something for the other woman in my life who is pissed off to the point where I fear for my life when I sleep.
What's that smell?
  • #155,998
  • Jan 26, 2009 11:39pm Jan 26, 2009 11:39pm
Remember - London Big Boys and NY still waiting to joint our party.
  • #155,999
  • Jan 26, 2009 11:41pm Jan 26, 2009 11:41pm
Quoting jon clogger
Just 60 more pips pleeeeaaase. I need to buy something for the other woman in my life who is pissed off to the point where I fear for my life when I sleep.
Damn, she must be doing something right lol.
  • #156,000
  • Jan 26, 2009 11:46pm Jan 26, 2009 11:46pm
Quoting PandoraBox
Remember - London Big Boys and NY still waiting to joint our party.

Yeah, Frankies made a new High, with BIG BEN, london guys is more likely to reverse that ..

Sex as usuall
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