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

  • #169,321
  • Apr 5, 2009 11:00pm Apr 5, 2009 11:00pm
Quoting Kofmaster
Critical moment,
Apologise for d noob question. I still cant figure out what is OB
Someone enlighten me?

thanks in advance. =)
it stands for overbought, a correction/retracement is likely to happen with a chart is overbought
I recommend you read something else as this sentence is now concluded.
  • #169,322
  • Apr 5, 2009 11:02pm Apr 5, 2009 11:02pm
thanks =)
good luck for the coming trade !~!
Read the entire market, money is made on the main trend not the fluctuation
  • #169,323
  • Apr 5, 2009 11:08pm Apr 5, 2009 11:08pm
Daily momentum show aggressive "V" reversal
Price struggling at 0.236 monthly fib
doji at 1h

If the price really going up, i worship the big guy.
Read the entire market, money is made on the main trend not the fluctuation
  • #169,324
  • Apr 5, 2009 11:08pm Apr 5, 2009 11:08pm
Correction has probably ripened ))
  • #169,325
  • Apr 5, 2009 11:10pm Apr 5, 2009 11:10pm
I agree with the Dragon 4hr chart ...i want to buy around 144.00
Going to make it big by age 21.
  • #169,326
  • Apr 5, 2009 11:14pm Apr 5, 2009 11:14pm
Quoting PandoraBox
I can't imagine if somebody buy at OB level. Anyway, we might see reversal pattern during london. Doji at H1 GJ.

Good Luck
Sometimes, OB is the time to buy as it is really bull market... Just think it is a matter of trigger.
  • #169,327
  • Apr 5, 2009 11:20pm Apr 5, 2009 11:20pm
Is POUND is realy recovery? Please becarefull for long traders....
UK may cut rate once more this thursday!!! Trust me for this one.

Gbp recovery on doubt, another rate cut is coming

FXstreet.com (Buenos Aires) - U.K. Chancellor Alistair Darling has admitted that he and his Treasury officials got it wrong over the length and severity of the recession and that he will be forced to tear up his economic predictions. The growth forecast is expected to be slashed in the budget to be release on April 22nd, and he also warned that there will be no economic recovery until the end of the year. “It's worse than we thought,” Darling said this weekend.

  • #169,328
  • Apr 5, 2009 11:29pm Apr 5, 2009 11:29pm
Quoting forexlion
PA on 1 hour is already in favour of shorts, we just need a proper confirmation first, i am still waiting for a touch of 151, before we begin the journey down south.
i'm waiting 151 too.. big lot will be short
  • #169,329
  • Apr 5, 2009 11:30pm Apr 5, 2009 11:30pm
M15 is bearish, M30 waiting to close below gann, H1 and H4 are signaling exhaustion.
Attached Image (click to enlarge)
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I recommend you read something else as this sentence is now concluded.
  • #169,330
  • Apr 5, 2009 11:37pm Apr 5, 2009 11:37pm
Quoting Aquafina
Sometimes, OB is the time to buy as it is really bull market... Just think it is a matter of trigger.
Plz don't tell me that you are long from 150.9. As far as i'm concerned we may be in a major correction phase but the overriding trend is still bearish. Be careful.
  • #169,331
  • Apr 5, 2009 11:47pm Apr 5, 2009 11:47pm
Interesting PA right now. Large volume up bars tell me buyers not done yet. Could merely be orders from Friday, but nonetheless buying strong on the dip.

Shorts need to look for a decisive break above 151. No matter how o/b something looks, it does not necessarily mean we go down hard. Careful of trusting an indicator which EVERYONE can clearly see.

I'm short, but if we decisively break 151, I will rethink.
  • #169,332
  • Apr 5, 2009 11:50pm Apr 5, 2009 11:50pm
Quoting ukdaytrader
Interesting PA right now. Large volume up bars tell me buyers not done yet. Could merely be orders from Friday, but nonetheless buying strong on the dip.

Shorts need to look for a decisive break above 151. No matter how o/b something looks, it does not necessarily mean we go down hard. Careful of trusting an indicator which EVERYONE can clearly see.

I'm short, but if we decisively break 151, I will rethink.
or it could be a trap and someone is selling in that up bar high volume, in fact some of them are ultra high, which is not a sign of strength
I recommend you read something else as this sentence is now concluded.
  • #169,333
  • Apr 5, 2009 11:54pm Apr 5, 2009 11:54pm
Quoting Obaidah
or it could be a trap and someone is selling in that up bar high volume, in fact some of them are ultra high, which is not a sign of strength
strong up. 152,153 best short maybe
  • #169,334
  • Apr 5, 2009 11:55pm Apr 5, 2009 11:55pm
resistance tuched and til what price its wanna go down ?
  • #169,335
  • Apr 5, 2009 11:57pm Apr 5, 2009 11:57pm
Quoting Obaidah
or it could be a trap and someone is selling in that up bar high volume, in fact some of them are ultra high, which is not a sign of strength
Can you post a chart Obaidah or others. looks like a fakeout but i don't have access to volumes atm to confirm.
  • #169,336
  • Apr 6, 2009 12:05am Apr 6, 2009 12:05am
Moment of truth at 151. If price reaches higher than 151 today, it might close the daily above 151 and break out of the daily channel, which also invalidates the massive daily bear flag. This could signal the weekly trend reversal (downtrend from 252). Like I said a few months ago "rally from the bottom usually result in full reversal according to the monthly chart". This bullish trend from 118.80 is still going strong breaking resistance after resistance. I'm currently flat all trades closed at 151. I'll wait until today's close to determine where price might be heading next. Daily close at key level gives a lot of information.
  • #169,337
  • Apr 6, 2009 12:05am Apr 6, 2009 12:05am
Quoting rgitt05
Belekas pointed it out and I agreed on the PA ..
The PA is above the DP so my bias is bullish ..



http://www.forexfactory.com/showpost...stcount=169164
  • #169,338
  • Apr 6, 2009 12:06am Apr 6, 2009 12:06am
Quoting ukdaytrader
Interesting PA right now. Large volume up bars tell me buyers not done yet. Could merely be orders from Friday, but nonetheless buying strong on the dip.

Shorts need to look for a decisive break above 151. No matter how o/b something looks, it does not necessarily mean we go down hard. Careful of trusting an indicator which EVERYONE can clearly see.

I'm short, but if we decisively break 151, I will rethink.
Buying is finished, this is merely bull traps
  • #169,339
  • Apr 6, 2009 12:14am Apr 6, 2009 12:14am
This trendline is being strongly tested. It seems the bulls are not backing off. But I do not want to take new long here at 151. If it breaks and flies to 155 or higher then so be it. These trendlines are ususally pretty strong levels.
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  • #169,340
  • Apr 6, 2009 12:16am Apr 6, 2009 12:16am
let the bear show begin
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