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

  • #167,821
  • Mar 27, 2009 4:27pm Mar 27, 2009 4:27pm
have a great weekend guys.
  • #167,822
  • Mar 27, 2009 5:32pm Mar 27, 2009 5:32pm
I am seeing 140.84 as of 6:30 pm (less that 2 hours from market close) on Friday on XE.COM...that can;t be right
  • #167,823
  • Mar 27, 2009 5:53pm Mar 27, 2009 5:53pm
Quoting GodfreyH
This is a custom indicator that requires the RSX indicator to be installed in the /expert/indicators/ folder as well.

The RSX indicator is posted somewhere on this thread, just check the paperclip attachment on the upper right hand side of this page.
I will try it again.A million Pips thanks.
  • #167,824
  • Mar 27, 2009 6:08pm Mar 27, 2009 6:08pm
Hi Gang
How is it ? I need a small help. Guys could this be a bullish Gartley pattern.......I numbered it 1........2.....3........4 4th leg ,786 fib of 1 st leg .........
Please render your insight and wisdom
Thank you in advance
Have a nice weekend guys!
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BANDA333
  • #167,825
  • Mar 27, 2009 7:03pm Mar 27, 2009 7:03pm
Not sure why there are so many bulls here, check out the weekly. Plus fundamentally the UK is soooo
screwed, this rally has just been delaying the inevitable. The G20 will create nice volatility next week, lots of opportunities, cherry pick and don't get married.
Money & Pain Respect the market, protect your capital, be patient
  • #167,826
  • Mar 27, 2009 7:24pm Mar 27, 2009 7:24pm
Hey folks, could someone familiar with Auslanco's 4hr/1hr strategy look over my entries and see if they are correct? Thanks!
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TULKAS
  • #167,827
  • Mar 27, 2009 7:30pm Mar 27, 2009 7:30pm
Quoting toyboy tramp
Not sure why there are so many bulls here, check out the weekly. Plus fundamentally the UK is soooo
screwed, this rally has just been delaying the inevitable. The G20 will create nice volatility next week, lots of opportunities, cherry pick and don't get married.
I took your advice and looked at the Weekly. Hmm..still bullish. 1150 pips above the Gann and the 50MA is sitting up there at about 165.2. QQE has crossed up but I will admit that it's not over the 50.

Also, Fib extensions show ~155.5 at 38% and ~167 at 50%.

Gonna keep buying dips unless the daily turns on me.

B
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  • #167,828
  • Mar 27, 2009 8:01pm Mar 27, 2009 8:01pm
I know you are bullish and we will have to see what next week brings but

1) price squeaked above resistance at 141.5 and tested 145 .. when ... in beginning of Asia when there was NO volume .. this is called marking up the market.

2) price bounced back and forth at top in 180 pips range .. this is the distribution phase

3) price on daily has closed under both the 4 and 8 sma ( gann is to lagging ) ...

4) Monday we get close under 140 she goes all way back to 135 , close under 135 then we break the TL on daily

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Blogging daily now at www.volume.zone
  • #167,829
  • Mar 27, 2009 8:05pm Mar 27, 2009 8:05pm
dj has retraced about 50 % of the down move, yesterday price moved upo but the volume was very low .. there is no demand in the market for stocks up at this price level.

todays volume was slightly lower , but shares can fall on low volume but not go up so easily on low volume.

a break of 7770 on dj and we move back to 7400 and maybe lower

the gj has been ore in tune with the markets in last week or so , this move down may take GU and hence gj with it

ES has been butting its head on 820 for last 2 days ..seems like a solid wall of sellers in this zone, suggesting we may have seen top of market for now.
Blogging daily now at www.volume.zone
  • #167,830
  • Mar 27, 2009 8:14pm Mar 27, 2009 8:14pm
next week could get very interesting .. bearish

check out this pin bar

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Blogging daily now at www.volume.zone
  • #167,831
  • Mar 27, 2009 9:20pm Mar 27, 2009 9:20pm
from the daily perspective, we've been making higher highs and higher lows.
this indicates we are still in short to mid term (for now) up trend.

30 min to 15 min ew count suggests there still is 1 more leg down.
support is around 138 -137.40 area. also 50 fib, 138 fe, 50 ema, and the broken upper tl of bullish broadening triangle is blocking the path to south. good area to think of reversal, IMHO.

daily ew count suggests the up move is not over yet until 150, 155, (165 in extreme case).

just a thought.
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  • #167,832
  • Mar 27, 2009 10:12pm Mar 27, 2009 10:12pm
Quoting malcolmb14
nice you made more than me ... on my suggestions ..lol .... joking

the thing is to not follwo others . MY charts are posted to suggest reasons why gj should do this or that. ..same with que and other seniors.

do not think of these suggestion as triggers , think of them as ways to learn how to trade and what makes for a good set up. we can all be wrong.

gj is not called the beast for nothing .. she can really kick you in the back end. Keep the stops real and never think .. oh she will come back ..... just let the losers go if the trade does...
malcomb, may i know how much pips you earn a month? thanks
  • #167,833
  • Mar 27, 2009 11:37pm Mar 27, 2009 11:37pm
Quoting Johor JCS
malcomb, may i know how much pips you earn a month? thanks
You are assuming he tracks pips/day and pips/month, lol, if he is like many of us, we spend most of our 'trading time' looking at charts and the bottom line. Based on my experience I'm guessing his bottom line is green- anyway read the thread.
  • #167,834
  • Mar 28, 2009 12:22am Mar 28, 2009 12:22am
Here's my take:

This downside move started with the break of the two day pinbar that formed on Tuesday and Wednesday. Then, we got that inside bar on Thursday, which broke down on Friday for the drop. With a classic bearish divergence and cci below 100 on the daily, I would not be surprised if geps goes to 137. If it holds, I'd be looking for a bullish price action formation (pin bar or engulfing candle) to go long.

Additionally, there is a pin bar on the weekly with hidden bearish divergence. If the bear market rally is over for the fraudexes, you better believe the move in the yen crosses is over too. All the yen crosses appear ripe for a reversal. All in all, I'm bearish.
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"Don't trade to trade . . . trade to win." - James16
  • #167,835
  • Mar 28, 2009 8:44am Mar 28, 2009 8:44am
Quoting pkimnyc
from the daily perspective, we've been making higher highs and higher lows.
this indicates we are still in short to mid term (for now) up trend.

30 min to 15 min ew count suggests there still is 1 more leg down.
support is around 138 -137.40 area. also 50 fib, 138 fe, 50 ema, and the broken upper tl of bullish broadening triangle is blocking the path to south. good area to think of reversal, IMHO.

daily ew count suggests the up move is not over yet until 150, 155, (165 in extreme case).

just a thought.
pk,

I agree with u-my chart is a bit more complicated buy if u study it over the weekend it will give the same perspective looking at it a bit more broader -

Okay - here's what I see:

Looking to the left side of the chart (where yellow circle is):

1) not by chance price stopped at 145 area (middle blue line). . .

2) based on broken support @ 140.80/90 area (short-term) price should head on down to 137.60 area (solid yellow line) with a possible spike down to 136 area to clear out weak longs. . . (there should be solid buyer at 137 but a spike is not out the question)

Looking at the right side of the chart:

1) 42/55 EMA suggest that support lies right between 137.30 - 137.60 which confirms our idea that this may be a buying opportunity. . . with a possible spike lower. . . If we buy here one should be prepared for a risk of 100-150 pips lower before we head back up (spike low). . .

2) looking at the short-side the is a possibility that price could head back up to check short-term resistance at 140.80/90-141-141.40 before heading down as suggested by the 1hr/4hr chart as can be seen from the bullish divergence on macd

So a good swing trading plan for next week could be as follows. . .

1) Wait for a pull back to check resistance at 140.80/90 up to 141.40 area (as suggested by 1hr/4hr chart) to short for a ride down to 137.60 with a possible spike down to 136 area. . .

or

2) Wait for price to bottom at 137.60 (136.00 spike) to go long on a daily close above this support for a ride up to 147-148 resistance 1st target.

THE PAST CAN SOMETIMES PREDICT THE FUTURE =

BONUS

Below is an EU chart that speaks for itself. . .1.2991 here we come

1-2-3 correction that should end at the 0.618 fib. . .

1) sell on a pull back to check resistance at 1.3430 area for a ride down to 1.30/1.2915 area. . .

2) Would look to buy at the 1.30-1.2991 are with a daily close above this area for a ride to 1.39/1.40 1st target. . .
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  • #167,836
  • Mar 28, 2009 9:02am Mar 28, 2009 9:02am
Quoting Piters
lol, no.. I exited.. but .. Q gave us a good call. he said 1.33 from 1.36

then probably a pull back and another selloff to 1.3 [not my call]

but so far so good
Piter,

Here is my plan for EU next week based on it's close last week. . .

1) I see a pull back from here to check supply/resistance up at the 1.3430 area as suggested by the 1hr/4hr chart (not posted here) - OS condition.

2) Upon a failure there one should look to short for a ride down to the 0.618 fib or support area there (1.30/1.2991)

3) Will re-evaluate once we get down to 1.30 area. . . however, we should have buyers there which should take up back up to 1.39/140/1.45 once we complete this corrective phase. . .

All in all I see a 1-2-3 correction before we start the next wave upward.

regards
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  • #167,837
  • Mar 28, 2009 9:24am Mar 28, 2009 9:24am
quecee5,

I really like your analysis, very clear

let's see how it goes this week
  • #167,838
  • Mar 28, 2009 10:01am Mar 28, 2009 10:01am
Quoting Johor JCS
malcomb, may i know how much pips you earn a month? thanks
more than 10 and less than 10000 ... there you go

I aim for 25 a day . more than that I am happy
Blogging daily now at www.volume.zone
  • #167,839
  • Mar 28, 2009 10:03am Mar 28, 2009 10:03am
Quoting quecee5
pk,

I agree with u-my chart is a bit more complicated buy if u study it over the weekend it will give the same perspective looking at it a bit more broader -

Okay - here's what I see:

Looking to the left side of the chart (where yellow circle is):

1) not by chance price stopped at 145 area (middle blue line). . .

2) based on broken support @ 140.80/90 area (short-term) price should head on down to 137.60 area (solid yellow line) with a possible spike down to 136 area to clear out weak longs. . . (there should be solid buyer...

this analysis is like art work .. lovely ... what a post !!!! nice job and thought process
Blogging daily now at www.volume.zone
  • #167,840
  • Mar 28, 2009 10:15am Mar 28, 2009 10:15am
If they are private, then I am understand. Nice art works and analysis.

As Malcom 's advises, don't follow anyone here calls, trust yourself:-), win or lose is in my hands. I am appreciate more than enough for your guys contribution, other than blaming the kindness of your times and analysis. Keep it up, very sincerely "good works".

Andrew
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