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

  • #174,601
  • May 1, 2009 2:11pm May 1, 2009 2:11pm
Quoting malcolmb14
ES flag breaks 880 before close .. gj 148.50 ..

what you guys think ?
could be either consolidation or top; PA today looks suspicious and bearish pattern is not very strong too; few other patterns could be considered as played out or not (if not, we might see geppy at 149.2 or 150.3 or as high as 152); any direction is possible but I'm personally biased bearish due to 3 days strong advances and weak bearish pattern
  • #174,602
  • May 1, 2009 2:15pm May 1, 2009 2:15pm
Quoting metlife777
it is bearish .854 pattern and it shall be cancelled if geppy would be over 149 today
check 15 m chart all the same pattern asc triangle from the beginning to now odds are that it break to upside we shall see
  • #174,603
  • May 1, 2009 2:20pm May 1, 2009 2:20pm
Quoting Estero
check 15 m chart all the same pattern asc triangle from the beginning to now odds are that it break to upside we shall see
I see only double top on 15m and Gann pointed down
Attached Image (click to enlarge)
Click to Enlarge Name: 144 target 15m.gif Size: 46 KB
  • #174,604
  • May 1, 2009 2:22pm May 1, 2009 2:22pm
Quoting metlife777
could be either consolidation or top; PA today looks suspicious and bearish pattern is not very strong too; few other patterns could be considered as played out or not (if not, we might see geppy at 149.2 or 150.3 or as high as 152); any direction is possible but I'm personally biased bearish due to 3 days strong advances and weak bearish pattern
With your view all the way. I closed my long at 148.20 and now am looking for a favorable point to enter my first short. Bears will soon join in. Am counting on next week to play the part and dance with the bears.
When nothing goes right... go left.
  • #174,605
  • May 1, 2009 2:25pm May 1, 2009 2:25pm
Quoting metlife777
I see only double top on 15m and Gann pointed down
You might be right but I will sitck with trend with close SL and if drops It will trigger my sell to downside.
  • #174,606
  • May 1, 2009 2:25pm May 1, 2009 2:25pm
We need ELLIOT WAVE GUYS.. to find out whats going on ..is this the third wave or the fifth..
Markets are not Random, they are designed!
  • #174,607
  • May 1, 2009 2:27pm May 1, 2009 2:27pm
Quoting mtajazz
With your view all the way. I closed my long at 148.20 and now am looking for a favorable point to enter my first short. Bears will soon join in. Am counting on next week to play the part and dance with the bears.
Hey, mate, I did not advice anybody to follow me, just am open to discuss the possible future moves
  • #174,608
  • May 1, 2009 2:33pm May 1, 2009 2:33pm
Quoting Raza
I am all in for the upside till 149.98.. then short this thing.. Agreed 100% with you. hedging for now
Hmmm...dunno
Patience + Humility + Study = Success
  • #174,609
  • May 1, 2009 2:35pm May 1, 2009 2:35pm
Quoting DutchTrader
Hmmm...dunno
bro,

double top [toping] formation on 1h. if we take 147.20.. that is our TOP, we are going DOWN..
  • #174,610
  • May 1, 2009 2:39pm May 1, 2009 2:39pm
Quoting metlife777
Hey, mate, I did not advice anybody to follow me, just am open to discuss the possible future moves
I was just in tandem with your view. I have three years experience trading i know its not much but at the moment it is sufficing. My chats tell me so. With the double head formation.
When nothing goes right... go left.
  • #174,611
  • May 1, 2009 2:45pm May 1, 2009 2:45pm
Quoting Piters
bro,

double top [toping] formation on 1h. if we take 147.20.. that is our TOP, we are going DOWN..
ya saw that double top an hour ago...( bother some) lots of hammers.... can't touch this... Hammer Time..
Markets are not Random, they are designed!
  • #174,612
  • May 1, 2009 2:57pm May 1, 2009 2:57pm
Quoting Piters
bro,

double top [toping] formation on 1h. if we take 147.20.. that is our TOP, we are going DOWN..
until then nothing dictates to short Have a great weekend all
  • #174,613
  • May 1, 2009 7:52pm May 1, 2009 7:52pm
Quoting mtajazz
Good strategy i must say. Why do most traders use 2% of their equity? I find it too low considering that i rarely enter a trade till most if not all my indicators are pointing in a certain direction.

Either way cheers and props with your advice.

I am using 4% with 2 % risk ...

10 % per week is all I look for

compounded is 1500 to 193,00 in a year , by that time you should be an awesome trader , I completed year 1 moved on to year 2

year 2 , 193 k to 2,75 million...will let you know how I do
Blogging daily now at www.volume.zone
  • #174,614
  • May 1, 2009 7:54pm May 1, 2009 7:54pm
Quoting metlife777
could be either consolidation or top; PA today looks suspicious and bearish pattern is not very strong too; few other patterns could be considered as played out or not (if not, we might see geppy at 149.2 or 150.3 or as high as 152); any direction is possible but I'm personally biased bearish due to 3 days strong advances and weak bearish pattern

maybe there was less volume than typical today BUT price did not drop ...

I am still fairly bullish , for a swing into 150 test and then take it from there
Blogging daily now at www.volume.zone
  • #174,615
  • May 1, 2009 7:56pm May 1, 2009 7:56pm
Quoting metlife777
could be either consolidation or top; PA today looks suspicious and bearish pattern is not very strong too; few other patterns could be considered as played out or not (if not, we might see geppy at 149.2 or 150.3 or as high as 152); any direction is possible but I'm personally biased bearish due to 3 days strong advances and weak bearish pattern
nothing bearish about this. The volume is bullish expanding on daily , todays low volume liekly due to may day vacation in europe

Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 162 KB
Blogging daily now at www.volume.zone
  • #174,616
  • May 1, 2009 9:10pm May 1, 2009 9:10pm
Quoting malcolmb14
nothing bearish about this. The volume is bullish expanding on daily , todays low volume liekly due to may day vacation in europe

Attachment
mal, what does this volume look like compared to this time last year for geppy?
"Don't trade to trade . . . trade to win." - James16
  • #174,617
  • May 2, 2009 4:36am May 2, 2009 4:36am
Quoting malcolmb14
nothing bearish about this. The volume is bullish expanding on daily , todays low volume liekly due to may day vacation in europe

Attachment
GJ reached an important level on 8h channel yesterday and from previous two months PA experience she retraced usually 200-300 pips, so I do expect repetition before final move up will be accomplished but of course I might be wrong
  • #174,618
  • May 2, 2009 6:04am May 2, 2009 6:04am
Let not come into conclusion right now cuz the overall trend is still bullish if we look at daily, .. i took a nice short on 4hrs chart still running and will hold it till i see how next market open on weekly chart.
this is a critical level for the bulls and bears...if we could break this 4hrs and daily trendline there we rise if we down 4hrs still show gj will drop.
trend is ur friend let see.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: boss1.gif Size: 31 KB
Click to Enlarge Name: boss2.gif Size: 35 KB
MY OPINION NOT FINANCIAL ADVISE
  • #174,619
  • May 2, 2009 6:56am May 2, 2009 6:56am
Quoting Piters
bro,

double top [toping] formation on 1h. if we take 147.20.. that is our TOP, we are going DOWN..
If you look daily there is room for 149
The Market pays you to be disciplined
  • #174,620
  • May 2, 2009 7:08am May 2, 2009 7:08am
Quoting mima
If you look daily there is room for 149
Please can you post your chart.
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