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

  • #172,581
  • Apr 22, 2009 10:51am Apr 22, 2009 10:51am
Quoting stewrigh
I really can't decide which way this is gonna go now so i just opened the Monthly - interesting pin forming.

Attachment

That pin bar says it all -

Looks more like a rejection to me. . . and if we close this month below last month high we see even lower price 129/130/125 but that's just my opinion of course. . .
  • #172,582
  • Apr 22, 2009 10:54am Apr 22, 2009 10:54am
Quoting stewrigh
I really can't decide which way this is gonna go now so i just opened the Monthly - interesting pin forming.

Attachment
looks more like a bullish 3 cow forming?....
  • #172,583
  • Apr 22, 2009 11:10am Apr 22, 2009 11:10am
Quoting Big Bruv
looks more like a bullish 3 cow forming?....
I just can't make my mind up.

The major(monthly) trend is down although we just bounced off the alltime low (120) also a double bottom from 1995.

So is the trend reversing or is this years PA just a retrace.

Think until its clearer I'll just trade it both ways on the H4/dailies.
  • #172,584
  • Apr 22, 2009 11:14am Apr 22, 2009 11:14am
If market closes here or lower today, daily candle stick formation suggests more down move to come.

Besides GU H4 is very bearish right now and I still see lots of space for it to go down, it's not oversold yet ... my targets with GU are 1.4300 - 1.4220 and 1.4100 ... I saw this weakness with GU days ago (Q disagreed) and currently holding a short position off 1.5010 moved SL to +300 ... only a break of 1.4600 means to me GU is bullish again.

With UJ I see a nice bull flag though. If 98.90 resistance holds then I expect more down move for GJ but if broken to the up side I see at least a +500 pips bull run with this pair from symmetry of movement's perspective >> +700 move up stated from 93.50 area up to 101.40, then +360 pips down (current bull flag, channel) and then another +700 pips up move seems to be logical.

Cheers
Discipline + Patience - Fear - Greed = Success
  • #172,585
  • Apr 22, 2009 11:16am Apr 22, 2009 11:16am
Quoting stewrigh
I just can't make my mind up.

The major(monthly) trend is down although we just bounced off the alltime low (120) also a double bottom from 1995.

So is the trend reversing or is this years PA just a retrace.

Think until its clearer I'll just trade it both ways on the H4/dailies.
i'll keep it simple...geppy is way..way...way ...way...oversold

no one in their right minds ( market makers) will want to carry on selling @ these levels.....me and you would..but will the market makers?...hence i look at longer views...i ask myself one question...if i wanted too tank the hell out of geppy wil i sell here?....here?...or here?

I guess we'll find out soon ..baby
  • #172,586
  • Apr 22, 2009 11:16am Apr 22, 2009 11:16am
Quoting stewrigh
I really can't decide which way this is gonna go now so i just opened the Monthly - interesting pin forming.

Attachment

OMG!!!

That would be the pin bars to beat all pin bars!

B
  • #172,587
  • Apr 22, 2009 11:17am Apr 22, 2009 11:17am
Quoting stewrigh
I really can't decide which way this is gonna go now so i just opened the Monthly - interesting pin forming.

Attachment

Here is a weekly chart/roadmap should give u some guidance. . .
A daily close below 141.80/142.15 area will see 137 area sooner reather than later with pitstops at 139/138.40 and a dip below to 137 area. . .

After that we should go back and check resistance above which should be the broken daily LTL. . . Then from there we will be continung the downward trend to my target 130/129 area and possibly lower. . .

But this is just my opinion of course. . .

Lets see how it plays out. . .
Attached Image (click to enlarge)
Click to Enlarge Name: weekly chart_gj.gif Size: 17 KB
  • #172,588
  • Apr 22, 2009 11:19am Apr 22, 2009 11:19am
Quoting Big Bruv
i'll keep it simple...geppy is way..way...way ...way...oversold

no one in their right minds ( market makers) will want to carry on selling @ these levels.....me and you would..but will the market makers?...hence i look at longer views...i ask myself one question...if i wanted too tank the hell out of geppy wil i sell here?....here?...or here?

I guess we'll find out soon ..baby
Sell here????? They've been selling since 151.50 area. . .
  • #172,589
  • Apr 22, 2009 11:21am Apr 22, 2009 11:21am
Quoting rattyo
I would never put you on my ignore list, nice avatar!
  • #172,590
  • Apr 22, 2009 11:22am Apr 22, 2009 11:22am
Quoting stewrigh
I just can't make my mind up.

The major(monthly) trend is down although we just bounced off the alltime low (120) also a double bottom from 1995.

So is the trend reversing or is this years PA just a retrace.

Think until its clearer I'll just trade it both ways on the H4/dailies.
having a major problem considering the move up from 118 as a trend reversal.
it sort of looks like a zig zag in daily chart (known as a flag), meaning... a correction.

weekly stoch is coming out of ob area. daily gann flipped couple of days ago, along with qqe crossing @ the same time. how often does that happen?

Plus, the daily lower tl is being pierced today.....
not to mention weekly macd just started diverging south.
  • #172,591
  • Apr 22, 2009 11:22am Apr 22, 2009 11:22am
Quoting quecee5
Sell here????? They've been selling since 151.50 area. . .
Brother Q, they've been selling since 250
Patience + Humility + Study = Success
  • #172,592
  • Apr 22, 2009 11:25am Apr 22, 2009 11:25am
Quoting pkimnyc
having a major problem considering the move up from 118 as a trend reversal.
it sort of looks like a zig zag in daily chart (known as a flag), meaning... a correction.

weekly stoch is coming out of ob area. daily gann flipped couple of days ago, along with qqe crossing @ the same time. how often does that happen?

Plus, the daily lower tl is being pierced today.....
hhmmm .. not long every 2 to 3 months OR every 2000-3000 pips ..
  • #172,593
  • Apr 22, 2009 11:26am Apr 22, 2009 11:26am
Quoting DutchTrader
Brother Q, they've been selling since 250
thought they been taking profits. that's why market went up from 118. lol
  • #172,594
  • Apr 22, 2009 11:26am Apr 22, 2009 11:26am
Quoting mktjong
hhmmm .. not long every 2 to 3 months OR every 2000-3000 pips ..
  • #172,595
  • Apr 22, 2009 11:26am Apr 22, 2009 11:26am
Quoting Estero
I would never put you on my ignore list, nice avatar!
I agree, only on FRIEND list...
  • #172,596
  • Apr 22, 2009 11:28am Apr 22, 2009 11:28am
Quoting DutchTrader
Brother Q, they've been selling since 250
True bro true. . .
  • #172,597
  • Apr 22, 2009 11:28am Apr 22, 2009 11:28am
Quoting Big Bruv
i'll keep it simple...geppy is way..way...way ...way...oversold

no one in their right minds ( market makers) will want to carry on selling @ these levels.....me and you would..but will the market makers?...hence i look at longer views...i ask myself one question...if i wanted too tank the hell out of geppy wil i sell here?....here?...or here?

I guess we'll find out soon ..baby
Mate, H4 totally OS, now only H1 push GJ down. We need to wait till H1 OS. Current view GJ really want to break channel line. H4 candle close below it -BREAKOUT!. Monthly candle - Doji...??? Need to wait till monthly candle close. If monthly candle close as doji....we might see major reversal pattern.
  • #172,598
  • Apr 22, 2009 11:35am Apr 22, 2009 11:35am
Quoting PandoraBox
Mate, H4 totally OS, now only H1 push GJ down. We need to wait till H1 OS. Current view GJ really want to break channel line. H4 candle close below it -BREAKOUT!. Monthly candle - Doji...??? Need to wait till monthly candle close. If monthly candle close as doji....we might see major reversal pattern.
No big deal bro .. just 10k pips ..
  • #172,599
  • Apr 22, 2009 11:35am Apr 22, 2009 11:35am
Quoting quecee5
Sell here????? They've been selling since 151.50 area. . .
OMG ..u call that a sell?...it's more of a tease...baby...

when i say sell i mean look at what they did from Jul 2007 to Nov 2008 - dats a sell...these are just corrective moves in a upmoving corrective move? (hope dat makes sense..baby)...

basically until we take out 78% of this recent from dec/jan lows....upmove..its very difficult to say market makers are involved? dats not to say we cannot profit from the moves both ways...baby

i'm just trying to put myself in the mind of a market makers..who probably does not know what daily or weekly pivots are..he just wants to know were he takes profit after 12 months.
  • #172,600
  • Apr 22, 2009 11:35am Apr 22, 2009 11:35am
Bro - 1hr and 4hr can be OS for days on stoch and macd and trade sideways to get out of the OS situation. . .

But as long as you have daily and weekly with massive dn pressure it will overide the lower TF everytime. . .

Daily has confirmed that the roadmap is down. . . qqe and daily gann crossing 5sma. . . I said this once before a few months back, when u have this situation u will see a 500-1000 pip move lower minimal. . .

But who am I am just the 2000 pound gorilla in the house -
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