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

  • #162,161
  • Feb 24, 2009 9:12pm Feb 24, 2009 9:12pm
Quoting bpatto
Straight from the book.
that's more like it.

i was looking @ 141.50 as the neckline.
  • #162,162
  • Feb 24, 2009 9:19pm Feb 24, 2009 9:19pm
Quoting pkimnyc
that's more like it.

i was looking @ 141.50 as the neckline.
Hello
So will GJ go higher than 141.50? Or bounce back down from this level?
  • #162,163
  • Feb 24, 2009 9:28pm Feb 24, 2009 9:28pm
Quoting maryinvest
Hello
So will GJ go higher than 141.50? Or bounce back down from this level?
we haven't broken 141.50 yet.
  • #162,164
  • Feb 24, 2009 9:33pm Feb 24, 2009 9:33pm
This nice little 100+ pip channel has been holding together for 24 hours now. The previous hourly candle covered it bottom to top.
Attached Image (click to enlarge)
Click to Enlarge Name: channel.jpg Size: 139 KB
  • #162,165
  • Feb 24, 2009 9:40pm Feb 24, 2009 9:40pm
Quoting maryinvest
Hello
So will GJ go higher than 141.50? Or bounce back down from this level?
i would look to see what price does in that area if we break 141.50, and stay on the side line for now if you are not holding anything.
Attached Image (click to enlarge)
Click to Enlarge Name: geppy_dai_02_24_09.gif Size: 20 KB
  • #162,166
  • Feb 24, 2009 9:40pm Feb 24, 2009 9:40pm
Quoting Pips_Cruiser
This nice little 100+ pip channel has been holding together for 24 hours now. The previous hourly candle covered it bottom to top.
hehehe. was playing that channel today also.
  • #162,167
  • Feb 24, 2009 9:44pm Feb 24, 2009 9:44pm
Quoting pkimnyc
i would look to see what price does in that area if we break 141.50, and stay on the side line for now if you are not holding anything.
Good advice!

  • #162,168
  • Feb 24, 2009 9:51pm Feb 24, 2009 9:51pm
Buyers at 140.20, Sellers at 141.20, no surprises there.
Attached Image (click to enlarge)
Click to Enlarge Name: GY_Volume_at_price250209.JPG Size: 71 KB
{Some Profound Statement goes here}
  • #162,169
  • Feb 24, 2009 10:19pm Feb 24, 2009 10:19pm
At the moment we have stupid resistance at Daily EMA 100.

p/s: IBFX Daily EMA 100 at 141.39
  • #162,170
  • Feb 24, 2009 10:22pm Feb 24, 2009 10:22pm
Quoting PandoraBox
At the moment we have stupid resistance at Daily EMA 100.

p/s: IBFX Daily EMA 100 at 141.39
lol. price flip zone: 141.50
  • #162,171
  • Feb 24, 2009 10:29pm Feb 24, 2009 10:29pm
Quoting pkimnyc
lol. price flip zone: 141.50
That is the problem....If we break the resistance ..GJ will fly to 148 ~ 155. If GJ fail maybe we could see it turn from here. Just a correction wave abc.
  • #162,172
  • Feb 24, 2009 10:34pm Feb 24, 2009 10:34pm
I'm currently long @ 140.37 with SL at 140.40. This position was up 100 pips at one point (I was watching TV at that time) before retracing, it's now at around +22. I really don't mind if it closes at +3. I'm not opening another position today, it's time to sleep.

If the SL isn't triggered and it was a H-S pattern, then I will gladly hold this position up to 154.00. I view this as an experiment, although I would have loved to take a profit of 100 pips, but I'll just see what happens. If it closes at +3 then, oh well.

Actually I'm currently at +37, price seems to be going up now, hopefully to infinity and beyond.
On a journey to consistency.
  • #162,173
  • Feb 24, 2009 10:36pm Feb 24, 2009 10:36pm
Quoting pkimnyc
i would look to see what price does in that area if we break 141.50, and stay on the side line for now if you are not holding anything.
nice chart and wise words there will always be some decent pullbacks to enter long again - but what i want to know is do you find the fx5 divergence tool off help to your trading i messed around with it on different charts different times and didn't really find it much help even on your chart i cant see a good divergence that played out or am i missing something big time

all the best
  • #162,174
  • Feb 24, 2009 10:41pm Feb 24, 2009 10:41pm
Quoting PandoraBox
That is the problem....If we break the resistance ..GJ will fly to 148 ~ 155. If GJ fail maybe we could see it turn from here. Just a correction wave abc.
haven't seen a convincing 4th wave yet. this could be it.
155.xx achievable. weekly macd histogram is above 0 line and climbing.
we may have this rally till mid march. after that, bears may come back in full force. we have a weekly bearish hd cooking.

the up move started as ABC, so this is a correction wave. not counting this as impulse wave
  • #162,175
  • Feb 24, 2009 10:45pm Feb 24, 2009 10:45pm
Quoting Pips_Cruiser
This nice little 100+ pip channel has been holding together for 24 hours now. The previous hourly candle covered it bottom to top.
Nice call and still producing $$$
History is written by the victors.
  • #162,176
  • Feb 24, 2009 10:48pm Feb 24, 2009 10:48pm
Quoting cohiba pips
nice chart and wise words there will always be some decent pullbacks to enter long again - but what i want to know is do you find the fx5 divergence tool off help to your trading i messed around with it on different charts different times and didn't really find it much help even on your chart i cant see a good divergence that played out or am i missing something big time

all the best
lol. i don't even know why i kept it. all you need is macd. it was an old template. thanks for pointing out.

ps. i only look for hidden divergence in 1 hr. classic and hidden from daily.
  • #162,177
  • Feb 24, 2009 10:53pm Feb 24, 2009 10:53pm
Quoting pkimnyc
haven't seen a convincing 4th wave yet. this could be it.
155.xx achievable. weekly macd histogram is above 0 line and climbing.
we may have this rally till mid march. after that, bears may come back in full force. we have a weekly bearish hd cooking.
How about a bet? We are in the correction wave abc. GJ already completed all the 5 waves. If this is wave C....I think GJ will straight go to 178.80 and Super Major Sell zone is at 178.80
  • #162,178
  • Feb 24, 2009 10:56pm Feb 24, 2009 10:56pm
Quoting PandoraBox
How about a bet? We are in the correction wave abc. GJ already completed all the 5 waves. If this is wave C....I think GJ will straight go to 178.80 and Super Major Sell zone is at 178.80
lol. wouldn't you consider that as major trend reversal?
  • #162,179
  • Feb 24, 2009 11:02pm Feb 24, 2009 11:02pm
Quoting pkimnyc
lol. i don't even know why i kept it. all you need is macd. it was an old template. thanks for pointing out.

ps. i only look for hidden divergence in 1 hr. classic and hidden from daily.
cool - i decided a few months ago to have as few tools as poss on my charts and went back to basics because at some point last year i counted dozens off different tools on one off my charts i couldn't really see what the hell i was doing - anyway japans exports dropped 45percent in jan compared to the same time last year no wonder we are seeing these moves
  • #162,180
  • Edited 11:11pm Feb 24, 2009 11:06pm | Edited 11:11pm
Quoting pkimnyc
lol. wouldn't you consider that as major trend reversal?
Yes...this is a major trend reversal. Just check at monthly candle. At the moment it is Bullish Engufing Candle. However Monthly candle need to close above 133 then we might see Bullish Engufing Candle.

Engulfing Candle is a Reversal Candle. So if we see it at Monthly chart. We might see a major trend reversal.

Check it here. http://www.fxwords.com/b/bullish-eng...ndlestick.html
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