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

  • #162,741
  • Feb 27, 2009 7:13am Feb 27, 2009 7:13am
a 741.50-742.50 long in ES sl under lo could pay handsomely
"Millionaires don't use astrology, billionaires do"
  • #162,742
  • Feb 27, 2009 7:20am Feb 27, 2009 7:20am
and pop goes the wessle yikes futures just crushed the lo like swiss cheese
"Millionaires don't use astrology, billionaires do"
  • #162,743
  • Feb 27, 2009 7:21am Feb 27, 2009 7:21am
HUUUUUUyyyaaaaaa !!!
  • #162,744
  • Feb 27, 2009 7:25am Feb 27, 2009 7:25am
First level 136.67, if broken then 132.85

4 hour chart trend.
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  • #162,745
  • Feb 27, 2009 7:26am Feb 27, 2009 7:26am
sweet 50 pips, but the major thing is that the supprot is boken..
and YM is on very new low 7025

another push to 136.80 and then bounce,
  • #162,746
  • Feb 27, 2009 7:32am Feb 27, 2009 7:32am
lookin to buy 36.88 hope we get there
"Millionaires don't use astrology, billionaires do"
  • #162,747
  • Feb 27, 2009 7:33am Feb 27, 2009 7:33am
should get a bounce at the yellow line. . .if u r late shorting be very careful the spike back up could be sharp and swift after 136.90 area is hit. . .

geppy should be a bit OS on 1hr/4hr chart at that point so a trip back up to work that out so it is in line with daily bearish divergence should happen sooner rather than later. . .
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  • #162,748
  • Feb 27, 2009 7:33am Feb 27, 2009 7:33am
This seemed like a stop hunting to take out weak longs with stop right below 137.70

Look at the 15M vol ... it looks like a stopping volume.
Discipline + Patience - Fear - Greed = Success
  • #162,749
  • Feb 27, 2009 7:37am Feb 27, 2009 7:37am
Quoting arezab
This seemed like a stop hunting to take out weak longs with stop right below 137.70

Look at the 15M vol ... it looks like a stopping volume.
not stop hunting my friend this is a reversal. . . 5 waves down on higher tf just confirmed it! if it was just stop hunting we would have seen 3 waves down then 5 waves back up to continue the bullish uptrend. we'll get better confirmation once we get 3 waves back up then we'll see 5 more waves back down. . .

cycles my friend, cycles my friend. . .
  • #162,750
  • Feb 27, 2009 7:39am Feb 27, 2009 7:39am
target hit to the pip! time to reload short on the retrace. . .
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  • #162,751
  • Feb 27, 2009 7:40am Feb 27, 2009 7:40am
Quoting forexlion
First level 136.67, if broken then 132.85

4 hour chart trend.
First target nicely hit, a good 80 pips collected here

If this level breaks, only then I will look to short further, else look to long back to where we just came from.
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  • #162,752
  • Feb 27, 2009 7:41am Feb 27, 2009 7:41am
fib level and daily 55 ema at 136 = TP
Money & Pain Respect the market, protect your capital, be patient
  • #162,753
  • Feb 27, 2009 7:43am Feb 27, 2009 7:43am
looking at this play on 1hr chart. . . still short from 141.34 but playing breaks with short in between. . . planning to do this all the way down to 116 - yes 116 over the next month or so....
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  • #162,754
  • Feb 27, 2009 7:47am Feb 27, 2009 7:47am
Quoting quecee5
should get a bounce at the yellow line. . .if u r late shorting be very careful the spike back up could be sharp and swift after 136.90 area is hit. . .
Spot on Q, good to see you firing on all cylinders
Money & Pain Respect the market, protect your capital, be patient
  • #162,755
  • Feb 27, 2009 7:49am Feb 27, 2009 7:49am
Quoting quecee5
target hit to the pip! time to reload short on the retrace. . .
Yep. sweet 40+ on retracement [long] from that Bounce... [136.80]

but.. but.. YM hit 7000 mark.. OmG !!!
  • #162,756
  • Feb 27, 2009 7:51am Feb 27, 2009 7:51am
TP 139-141

if large ABC on 15m could be targeting 149 easily enough

volume seems climactic

this POP lower was right inbetween 1.144 and 1.270 retracement expansion

BUY ZONE decision point for ABC's
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"Millionaires don't use astrology, billionaires do"
  • #162,757
  • Feb 27, 2009 7:53am Feb 27, 2009 7:53am
Quoting Monk
Like right now.....got some good pips going on.....and this thing could go shooting back up all of it in 4 freaking minutes......

but OH NO....my little brain tells me TONIGHT IS THE NIGHT we will see a 2000 pip drop right down.

christ
my regards to your friend!!
  • #162,758
  • Feb 27, 2009 7:54am Feb 27, 2009 7:54am
Quoting quecee5
not stop hunting my friend this is a reversal. . . 5 waves down on higher tf just confirmed it! if it was just stop hunting we would have seen 3 waves down then 5 waves back up to continue the bullish uptrend. we'll get better confirmation once we get 3 waves back up then we'll see 5 more waves back down. . .

cycles my friend, cycles my friend. . .
I don't know about those waves or cycles that much but I'll think on this as not being a shake out only IF I see price retraces back up and is unable to cross 137.70 area. Then I'll be short ... heavy short
Discipline + Patience - Fear - Greed = Success
  • #162,759
  • Feb 27, 2009 7:59am Feb 27, 2009 7:59am
if there is a rate cut, the currency gains strength, so GJ and GU will shoot into the sky.

In the event of a rate hike the currency looses strength.

2006-2007 2e saw rate hikes in usd and usd fell badly, sending eu and gu sky high

in 2008 we saw rate cuts and usd gained strength sending GU and EU crashing.


Quoting forexlearner
PRICE WILL GO DOWN ANOTHER 380 pips!


WHY?

Look at the Double TOP!!!!!

I think its easily said that this will go down 380 pips.

ANd furthermore!, many ppl expect GBP to weaken next week becoz the BANK OF ENGLAND MIGHT cut the interest rate by another 0.5%!

THis is pure speculation. But for a learner like me, its simple. Too easy! Don't make forex too complicated or u will keep losing.

I am newbie with 1year live trading experience, I am still a learner. But I m surviving! and holding on this far.
  • #162,760
  • Feb 27, 2009 8:01am Feb 27, 2009 8:01am
regained some ground on the retrace

fib levels are great if you know how to use them effectively.
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