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

  • #168,941
  • Apr 2, 2009 10:51am Apr 2, 2009 10:51am
Quoting mamufx
I am waiting GJ to sell at price 147.65 hopefully GJ will reach there soon....
Not unless dow goes to 8000 again imho....
Let Price determine your future!
  • #168,942
  • Apr 2, 2009 10:55am Apr 2, 2009 10:55am
Quoting Geppyg
Not unless dow goes to 8000 again imho....
maybe
  • #168,943
  • Apr 2, 2009 11:02am Apr 2, 2009 11:02am
I love these choppy little uptrends and downtrends on 5M, everytime i'm about to close order, it moves a little more
  • #168,944
  • Apr 2, 2009 11:07am Apr 2, 2009 11:07am
if 145 remains to support, next target is 151 IMO
Trade what you see, not what you think.
  • #168,945
  • Apr 2, 2009 11:09am Apr 2, 2009 11:09am
Quoting karmostaji
if 145 remains to support, next target is 151 IMO
  • #168,946
  • Apr 2, 2009 11:10am Apr 2, 2009 11:10am
This could be interesting tonite/tomorrow.
Attached Image (click to enlarge)
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I think it'll pull back to 140 ish then resume north
  • #168,947
  • Apr 2, 2009 11:11am Apr 2, 2009 11:11am
Quoting rattyo
i see a double top on the 5min

lower highs!!
5min chart patterns dont mean shit usually
Do you mind to explain a little about your system ... which indicators do you use and what settings?

Thanks
Discipline + Patience - Fear - Greed = Success
  • #168,948
  • Apr 2, 2009 11:15am Apr 2, 2009 11:15am
Theres also a nice H4 pin
  • #168,949
  • Apr 2, 2009 11:19am Apr 2, 2009 11:19am
Quoting belekas
No ascending triangle on my chart as the inside move sequence is not correct and your upper TL is cutting the price action and is not significant. . .
It still looks "text book" to me. What am I missing? Anyone?

http://www.chartpatterns.com/ascendingtriangles.htm

Attached Image (click to enlarge)
Click to Enlarge Name: triangle2.jpg Size: 150 KB
  • #168,950
  • Apr 2, 2009 11:23am Apr 2, 2009 11:23am
Quoting Pips_Cruiser
It still looks "text book" to me. What am I missing? Anyone?

http://www.chartpatterns.com/ascendingtriangles.htm

Looks like not a thing...
  • #168,951
  • Apr 2, 2009 11:30am Apr 2, 2009 11:30am
Quoting Pips_Cruiser
It still looks "text book" to me. What am I missing? Anyone?

http://www.chartpatterns.com/ascendingtriangles.htm

And now its making a pennant right???
  • #168,952
  • Apr 2, 2009 11:41am Apr 2, 2009 11:41am
Quoting gillybabe
Hi. What is that pretty little bull and bear line across the bottom of your charts? And could you share it pls?. thanks
VT Trader comes with something called "Moving Averages of RSI System". I have one RSI MA line set to 2sma and the other set to 10sma. It seems to be very similar to the RSX. I don't use it very often. But last night it helped keep me confident that things were still bullish during early Asian session, while price was ranging around.
Attached Image (click to enlarge)
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  • #168,953
  • Apr 2, 2009 11:57am Apr 2, 2009 11:57am
Quoting cullian
And now its making a pennant right???
The last 8 hours of so have been consolidating, and it's shaped kind of like a pennant. But whenever I check up on the definition of a pennant, the formation I'm actually looking at fails to measure up.

Try googling "pennant formation trading" and read some of the "hits" you get. You can be the judge.
  • #168,954
  • Apr 2, 2009 12:01pm Apr 2, 2009 12:01pm
Quoting Pips_Cruiser
The last 8 hours of so have been consolidating, and it's shaped kind of like a pennant. But whenever I check up on the definition of a pennant, the formation I'm actually looking at fails to measure up.

Try googling "pennant formation trading" and read some of the "hits" you get. You can be the judge.
yeah that spike down is too low, huh?
  • #168,955
  • Apr 2, 2009 12:05pm Apr 2, 2009 12:05pm
It looks good but it's probably gone a little far, the target should be the width of the beginning ( your points 1 & 2) added to the top (your points 1 & 3) which should bring us to about 146 which it overshot so it should probably consolidate

Quoting Pips_Cruiser
It still looks "text book" to me. What am I missing? Anyone?

http://www.chartpatterns.com/ascendingtriangles.htm

Without a trade plan, say bye bye to your account & hello to frustration.
  • #168,956
  • Apr 2, 2009 12:14pm Apr 2, 2009 12:14pm
Quoting PipinStein
It looks good but it's probably gone a little far, the target should be the width of the beginning ( your points 1 & 2) added to the top (your points 1 & 3) which should bring us to about 146 which it overshot so it should probably consolidate
The breakout from the triangle did go further than projected. That's definitely true. Whether that in itself suggests a consolidation is coming up, I'm less sure about. But after all this upward movement we've had lately, I wouldn't be surprised.
  • #168,957
  • Apr 2, 2009 12:16pm Apr 2, 2009 12:16pm
Quoting cullian
yeah that spike down is too low, huh?
I'd say that's one of the problems with it. It messed up the symmetry.
  • #168,958
  • Apr 2, 2009 12:26pm Apr 2, 2009 12:26pm
Quoting stewrigh
This could be interesting tonite/tomorrow.
Attachment


I think it'll pull back to 140 ish then resume north
I agree, checkout the weekly chart for another view.
Attached Image (click to enlarge)
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  • #168,959
  • Apr 2, 2009 12:26pm Apr 2, 2009 12:26pm
On H4 charts would appear to be a definite need to consolidate from overbought, +1000 or so for the week would suggest need to consolidate at least to 23.8fibo? Funnily enough around where I have my TP!

Whether or not we make my second target of yesterdays close and the 38.2% fibo only time will tell

140.50 also seems potentially reasonable as is long term support area.

Leave the upside risk to the bulls....want to see how these ones run....breakout to the upside of 147 will probably be my sign to exit
Attached Image (click to enlarge)
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  • #168,960
  • Apr 2, 2009 12:54pm Apr 2, 2009 12:54pm
Quoting Tmac
monthly R1 at 147.33
In addition, it's fairly close to the 1.618 fib exstention from the initial move off the 135.70 area to 142.80
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