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

  • #161,561
  • Feb 20, 2009 12:39am Feb 20, 2009 12:39am
UY rejected on H4 Gann @ 93.65.
GU rejected on H4 LTL @ 1.4150.

Both need to be taken out for GY to sink.
{Some Profound Statement goes here}
  • #161,562
  • Feb 20, 2009 12:40am Feb 20, 2009 12:40am
Quoting GodfreyH
Cable Final Target, closed half already
  • #161,563
  • Feb 20, 2009 12:41am Feb 20, 2009 12:41am
Quoting Bren0001
Thanks NwFX.

What do you think would have been a better way to analyze the chart? Very interested in hearing your opinion.

Bren
well i had the channel in the back of my mind thinking about what malcolmb says a lot on this thread. and after watching PA i was anticipating a breakout to upside i looked at my rsi which was just at the 50 line figured it would breakthrough and keep heading up.

After looking back on the trade, And what i shouldve picked up by now, was to sell at the top of the channel and target the bottom of it. still some kinks and mind games with myself i need to workout i guess lol the thing was happy about was using my stop and sticking to it. in the past i wouldve more than likely taken it off and said to myself ahhh shell come back for me.
  • #161,564
  • Feb 20, 2009 12:44am Feb 20, 2009 12:44am
wow price action looks lazy from typical trading - GJ getting old man -
  • #161,565
  • Feb 20, 2009 12:49am Feb 20, 2009 12:49am
Quoting quecee5
wow price action looks lazy from typical trading - GJ getting old man -
yea seriously.. might have to move back to eur/aud
  • #161,566
  • Feb 20, 2009 12:50am Feb 20, 2009 12:50am
morning folks...

still bullish ..baby..
looking to add to longs @132.20...i feared the possibility of a range but i'm now not convinced...


still in it..long play to 141, 150 then 170
  • #161,567
  • Feb 20, 2009 12:51am Feb 20, 2009 12:51am
Quote
NwFXenthsist

After looking back on the trade, And what i shouldve picked up by now, was to sell at the top of the channel and target the bottom of it. still some kinks and mind games with myself i need to workout i guess lol the thing was happy about was using my stop and sticking to it. in the past i wouldve more than likely taken it off and said to myself ahhh shell come back for me.

Thanks NwFX,

That sounds good to me. Sell rallies in a downtrend... I appreciate your help. Have a good morning...

Brendan.
  • #161,568
  • Feb 20, 2009 12:53am Feb 20, 2009 12:53am
Quoting Big Bruv
morning folks...

still bullish ..baby..
looking to add to longs @132.20...i feared the possibility of a range but i'm now not convinced...


still in it..long play to 141, 150 then 170
  • #161,569
  • Feb 20, 2009 12:55am Feb 20, 2009 12:55am
large pin bar forming on the 1hr....perhaps we have seen our retrace....
  • #161,570
  • Feb 20, 2009 12:57am Feb 20, 2009 12:57am
Quoting Bren0001
Thanks NwFX,

That sounds good to me. Sell rallies in a downtrend... I appreciate your help. Have a good morning...

Brendan.

thanks for asking.

you do the same and good trading to you
  • #161,571
  • Feb 20, 2009 12:59am Feb 20, 2009 12:59am
retracement went to a wee bit over the 50 percent level...
  • #161,572
  • Feb 20, 2009 1:05am Feb 20, 2009 1:05am
Quoting quecee5
? don't understand?...baby..think ambitious targets?...see previous posts for explanation and reasons including charts...(This is a long term play NOT intra-day!)
  • #161,573
  • Feb 20, 2009 1:06am Feb 20, 2009 1:06am
Incidentally, I'm experimenting with my own interpretation of candlestick patterns just from observing price action, not the usual engulfing patterns etc.

For example, I notice when 2 bear bars have a certain ohlc (open, high, low, close) setup. The following bar then has a nice drop.

But I am very specific in my rules, for example for the chart pattern below, the rules are as follows:

Inserted Code
  ((Open[shift3] -Close[shift3]) >= min_size*Point) // 1st bar at least 5 pips long, no doji's
         &&
         ((Open[shift2] -Close[shift2]) >= min_size*Point) // 2nd bar at least 5 pips long, no doji's
         &&       
        ((Open[shift3] -Close[shift3]) <= max_size*Point) // 1st bar no more than 40 pips long
         &&
         ((Open[shift2] -Close[shift2])<= max_size*Point) // 2nd bar no more than 40 pips long
         &&
        (High[shift2] < High[shift3]) // high of first bear bar not exceeded by second bar
         &&
        (Low[shift2] < Low[shift3]) // Second bear bar goes lower than first bear bar low
         &&
         ((Open[shift2] -Close[shift2]) >= 1*(Open[shift3] -Close[shift3])) // 2nd bar greater than the first bear bar body
         &&
         ((Open[shift2] -Close[shift2]) <= 2.75*(Open[shift3] -Close[shift3])) // 2nd bar less than 2.75 of the first bear bar

So if anyone has any other such pattern they want identified automatically with an alert, PM me.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-30min.gif Size: 24 KB
  • #161,574
  • Feb 20, 2009 1:09am Feb 20, 2009 1:09am
Quoting cancunkev
large pin bar forming on the 1hr....perhaps we have seen our retrace....
The important now Gann H4 already flip. Retrace just opportunity to add more short. What I can see now UJ will bring GJ down. UJ tank, GJ died
  • #161,575
  • Feb 20, 2009 1:17am Feb 20, 2009 1:17am
Quoting Big Bruv
? don't understand?...baby..think ambitious targets?...see previous posts for explanation and reasons including charts...(This is a long term play NOT intra-day!)
glad u r ambitious bro and I respect that highly. however it's hard for me to predict that far out because the market is fickle and could change market sentiments at any time. . . it's hard enough trying to predict price movement on a daily basis let alone that far out. . .

However. I'm with u bro - but until the charts tell me that a bottom is in - which right now it's not saying that to me at least especially with the bearish h&s looming on both GU and GJ chart - i'm a bit reluctant to suggest such price action but that's just me.

many trader trade different ways and have different capital to work with so that style of trading may work for u and your trading goal. didn't mean any disrespect was merely joking to try to lighten the mood on such sluggish price action. . .

will keep the joking to a minimal since the humor has seemed to died off in here. . .

where is lilmoe when u need him with his crapper pic? -
  • #161,576
  • Feb 20, 2009 1:24am Feb 20, 2009 1:24am
UK retail sales out in 5 min should give it a push either way. . .
  • #161,577
  • Feb 20, 2009 1:33am Feb 20, 2009 1:33am
anyone shorting off the 1hr gann retest?
  • #161,578
  • Feb 20, 2009 1:37am Feb 20, 2009 1:37am
Quoting quecee5
glad u r ambitious bro and I respect that highly. however it's hard for me to predict that far out because the market is fickle and could change market sentiments at any time. . . it's hard enough trying to predict price movement on a daily basis let alone that far out. . .

However. I'm with u bro - but until the charts tell me that a bottom is in - which right now it's not saying that to me at least especially with the bearish h&s looming on both GU and GJ chart - i'm a bit reluctant to suggest such price action but that's just me.

many trader...
my bad bro..me did nt get the joke...ofcourse now i do...baby
  • #161,579
  • Feb 20, 2009 1:43am Feb 20, 2009 1:43am
Quoting quecee5
UK retail sales out in 5 min should give it a push either way. . .
based on history, i know this report has an immediate effect but the fact still remains that the amount of importance attached to the Retail Sales m/m is an absolute joke especially when its detailing the Christmas/New year month. The seasonality factor in this report is so great you might as well argue that because US grain harvests are so much greater in Autumn than in mid Winter that the USD should rise faster in that period.
  • #161,580
  • Feb 20, 2009 1:44am Feb 20, 2009 1:44am
Quoting Big Bruv
my bad bro..me did nt get the joke...ofcourse now i do...baby
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