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

  • #164,001
  • Mar 5, 2009 1:16am Mar 5, 2009 1:16am
if 141.50 area break which i suspect it will 144 should be our first target....
  • #164,002
  • Mar 5, 2009 1:17am Mar 5, 2009 1:17am
Quoting dialpips
is the breakout or fake?

true breakout .. all the volume signs were there ... overleverage myself on this one .. thank god it played out ......90 pis off and stop at 50 pips on other half. Likely will be sellers at 141.50 , but they may just bring on huge vol and push her right thru that spot
Blogging daily now at www.volume.zone
  • #164,003
  • Mar 5, 2009 1:26am Mar 5, 2009 1:26am
Quoting malcolmb14
true breakout .. all the volume signs were there ... overleverage myself on this one .. thank god it played out ......90 pis off and stop at 50 pips on other half. Likely will be sellers at 141.50 , but they may just bring on huge vol and push her right thru that spot
I will wait for 1h close above 141.5 to add. what do u think? 141.5 is holding for now.
  • #164,004
  • Mar 5, 2009 1:27am Mar 5, 2009 1:27am
Quoting Atltrader
hello all...Im more of a position trader then day trader, so my bias is up for maybe the next day then Down. I will be looking to take a sell position as close as I can get to the upper downwards trendline with a 100 pip stop above the trendline. I plan on holding this trade for quite a long time if it works out in my favor.. I follow the longer term trends...
dont take this the wrong way bro, but i dont think that is a proper tl, meaning i was under the impression that tl's are to be drawn along tips/nipples of candles? try this weekly chart with fibs, showing we should go much higher before a drop, only way you should be taking a short is on a confirmed break on the daily trendline riding this move up, you can see it couple posts back that i posted. just a thought, you could be right.....check out pandoras posts, he thinks the same way as me most times
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  • #164,005
  • Mar 5, 2009 1:28am Mar 5, 2009 1:28am
Nice bullish pennant breakout. Lets see what reaction we get at the top of the range.
  • #164,006
  • Mar 5, 2009 1:33am Mar 5, 2009 1:33am
Quoting dialpips
I will wait for 1h close above 141.5 to add. what do u think? 141.5 is holding for now.
if we break 141.50 it will on a fast high volume , wide spread bar ......

it is designed to lock traders like you out that are waiting for the breakout of 141.50 and also designed to lock trader that are long and missed the 1st hit of 141.50 to stay in the trade so there is not a lot of supply at resistance.

I would suggest if this happens , wait for a pull back on a 5 min chart and then get in

of course there is the chance that 141.50 holds , but right now I am not seeing alot of selling hitting the market
Blogging daily now at www.volume.zone
  • #164,007
  • Mar 5, 2009 1:34am Mar 5, 2009 1:34am
can someone solid pinbar 15m? are reversing?
  • #164,008
  • Mar 5, 2009 1:38am Mar 5, 2009 1:38am
Quoting malcolmb14
if we break 141.50 it will on a fast high volume , wide spread bar ......

it is designed to lock traders like you out that are waiting for the breakout of 141.50 and also designed to lock trader that are long and missed the 1st hit of 141.50 to stay in the trade so there is not a lot of supply at resistance.

I would suggest if this happens , wait for a pull back on a 5 min chart and then get in

of course there is the chance that 141.50 holds , but right now I am not seeing alot of selling hitting the market
5m pullback to gann or 50ema? thanks.
  • #164,009
  • Mar 5, 2009 1:38am Mar 5, 2009 1:38am
Hopefully just a retest...this is what seperated the men from the boys......nay even get down as low as 140.50, but maybe not that low, but maybe.....



Quoting dialpips
can someone solid pinbar 15m? are reversing?
"Keep your eyes on the helpers" - Mr. Rogers
  • #164,010
  • Mar 5, 2009 1:39am Mar 5, 2009 1:39am
Quoting dialpips
can someone solid pinbar 15m? are reversing?

yes there are sellers at 141.50 and a pin bar formed on 15 min . i did do a little scalp to the short side , but i could see form volume into 141.50 that we were going to hold.

we have to see the reaction to that pin bar , better yet would be nice to see a low volume test of 141.50 to get a good sell entry.

Frankfurt can lead us astray as I have heard there are many games that are played.

141 is support now and then 140.50. see price action on tests of these levels . I still think a breakout of 141.50 is highly likely
Blogging daily now at www.volume.zone
  • #164,011
  • Mar 5, 2009 1:43am Mar 5, 2009 1:43am
Quoting dialpips
5m pullback to gann or 50ema? thanks.


something like a pin bar or a low volume low spread down bar is what you would be looking for on a 5 min chart on a pull back ...

gann on 5 min is 140.95 right now and 50 sma is 140.70 , so they are both to far away , rely on candle patterns and price action to show you where you should get in on a pullback
Blogging daily now at www.volume.zone
  • #164,012
  • Mar 5, 2009 1:49am Mar 5, 2009 1:49am
Quoting malcolmb14
something like a pin bar or a low volume low spread down bar is what you would be looking for on a 5 min chart on a pull back ...

gann on 5 min is 140.95 right now and 50 sma is 140.70 , so they are both to far away , rely on candle patterns and price action to show you where you should get in on a pullback
thanks a lot.
  • #164,013
  • Mar 5, 2009 2:24am Mar 5, 2009 2:24am
141 appears to be providing support for now....

we did hit sellers at 141.45, however being a major triple top we didnt see much selling....
  • #164,014
  • Mar 5, 2009 2:30am Mar 5, 2009 2:30am
we may see that low volume test of 141 50 on this current 5 min candle...
  • #164,015
  • Mar 5, 2009 2:33am Mar 5, 2009 2:33am
am trying to short for today with put my sell limit @ S2=141.65
Then TP @ 138.65

H4 seem like nice to bearishness...Anybody can help to advice..Please
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  • #164,016
  • Mar 5, 2009 2:42am Mar 5, 2009 2:42am
we have a range developing/.....

141 to 141.40
  • #164,017
  • Mar 5, 2009 2:43am Mar 5, 2009 2:43am
Quoting grashid
am trying to short for today with put my sell limit @ S2=141.65
Then TP @ 138.65

H4 seem like nice to bearishness...Anybody can help to advice..Please

USDJPY rally stopped at Weekly 50 ema [99.80].. so we should see UY reversing or on HOLD

the only one thing messing with long/short positions on GY and with the final direction, is the GBP interest rates..

I have few shorts on UY for a long term..trades..

im expecting retest the LTL at 140.50
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  • #164,018
  • Mar 5, 2009 2:47am Mar 5, 2009 2:47am
Quoting Piters
UY rally stopped at Weekly 50 ema.. so we should see UY reversing or on HOLD

the only one thing is messing with long/short positions on GY and with the final direction, is the interest rates..

I have few shorts on UY for a long term..trades..

Anyway thanks for some info..
I believe BOE may cut more than 50bp to support money supply and may seen really drop in GU n GY...
  • #164,019
  • Mar 5, 2009 3:11am Mar 5, 2009 3:11am
we may be forming another bull pennant....
  • #164,020
  • Mar 5, 2009 3:33am Mar 5, 2009 3:33am
scratch that..if it was a bull pennant we just violated it to the down side...seems we are still in the same range as long as the 141/140.80 area holds..
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