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

  • #176,601
  • May 12, 2009 8:22am May 12, 2009 8:22am
Quoting Big Bruv
morning everyone...

looks like a turnaround tuesday..baby...

just chilling...having a coke... at mo..still long as usual.....

added longs off the last drop ...looking to add more if pa breaks 149.80 zone

happy pippin

is that the drink or a line ? lol
Blogging daily now at www.volume.zone
  • #176,602
  • May 12, 2009 8:26am May 12, 2009 8:26am
I think this is a perfect place to go long and here are my first 3 lots
Long at 148.45...Stop at 147.90
Let Price determine your future!
  • #176,603
  • May 12, 2009 8:26am May 12, 2009 8:26am
Quoting malcolmb14
is that the drink or a line ? lol
*cough* *cough*.....da....drink...*cough*..oh baby LOL
  • #176,604
  • May 12, 2009 8:31am May 12, 2009 8:31am
Short win...




Quoting rgitt05
Once the PA breaks out of the Red box than there should be a clear bias direction where GJ wants to go..

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  • #176,605
  • May 12, 2009 8:32am May 12, 2009 8:32am
Quoting Geppyg
I think this is a perfect place to go long and here are my first 3 lots
Long at 148.45...Stop at 147.90
Sr. Geepyg try stop 147.81
  • #176,606
  • May 12, 2009 8:34am May 12, 2009 8:34am
Quoting uksnowman
Agreed

Looking at smaller tf charts, there doesn't seem to be much volume supporting the up moves on 5min.

I'm short from 149.1, targeting similar region to you for first tp then 145-145.7 where i have 50% fib on daily (6th-28th April) and strong weekly s/r.
but am taking at 50% as PA look scary to me...Good luck
  • #176,607
  • May 12, 2009 8:35am May 12, 2009 8:35am
Hi there! Can someone confirm if this could become a valid head and shoulder, because if so, the neckline is not too far off. Thanks.
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  • #176,608
  • May 12, 2009 8:37am May 12, 2009 8:37am
Quoting rgitt05
Short win...

There is system I monitore once in awhile - 7am-9am breakout and when the range between this period was lessw then 50-60 pips it may be very profitable. Today was that case. Range 149-148,4. The breakout happened when it closed below 148,4.
  • #176,609
  • May 12, 2009 8:42am May 12, 2009 8:42am
My setup is used in the first two hours in all session, and I am doing very well with the breakout strategy..





Quoting pipsbull
There is system I monitore once in awhile - 7am-9am breakout and when the range between this period was lessw then 50-60 pips it may be very profitable. Today was that case. Range 149-148,4. The breakout happened when it closed below 148,4.
[
  • #176,610
  • May 12, 2009 8:44am May 12, 2009 8:44am
Quoting OGW
Hi there! Can someone confirm if this could become a valid head and shoulder, because if so, the neckline is not too far off. Thanks.
Hello there!
It is a h&s pattern, but look at the chart for it to break the neckline not enough!!! It needs a close below 0,618 Fib projection for it to be valid and for downside continuation! See chart:
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  • #176,611
  • May 12, 2009 8:47am May 12, 2009 8:47am
Between S1 and monthly pivot is my target and I may take a swing trade in this area..

Waiting for London market to close for a possible Reversal..

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  • #176,612
  • May 12, 2009 8:48am May 12, 2009 8:48am
Quoting rgitt05
My setup is used in the first two hours in all session, and I am doing very well with the breakout strategy..

Hi, rgitt05, you mean you apply it 8:00 -10:00am est, 3:00-5:00am est, and so on? I take only US, LOndon overlap with a small range, as it is most volatile and small ranges move wider after breakout.
  • #176,613
  • May 12, 2009 8:48am May 12, 2009 8:48am
Quoting rgitt05
My setup is used in the first two hours in all session, and I am doing very well with the breakout strategy..

good set up mate...am close a bit early @ 50%=147.95 as PA look scary to me...

am taking long atm from 147.60..for TP=148.60 between 32.8%[email protected]% H1 back any tought...maybe too early..
  • #176,614
  • May 12, 2009 8:53am May 12, 2009 8:53am
On average there is more violatily for breakouts setups in the first two hours of each session ..You are right about London session violatily but I am beginning to apply the setup for NY time now..

Also, the smaller trading range most of the time works for breakout strategy...




Quoting pipsbull
Hi, rgitt05, you mean you apply it 8:00 -10:00am est, 3:00-5:00am est, and so on? I take only US, LOndon overlap with a small range, as it is most volatile and small ranges move wider after breakout.
[
  • #176,615
  • May 12, 2009 8:53am May 12, 2009 8:53am
Quoting pipsbull
Hello there!
It is a h&s pattern, but look at the chart for it to break the neckline not enough!!! It needs a close below 0,618 Fib projection for it to be valid and for downside continuation! See chart:

13:44 USD/JPY: Head And Shoulders Everywhere New York, May 12. USD/JPY is retesting the lows as a positive open to the commodity/equity market coincides with a falling USD. Everyone is looking for USD/JPY to complete a head and shoulders formation which would send USD/JPY back to 90. 96.65 is near term support with stops set below 96.50. 95.59 is the April low. 97.80/98.00 has offers touted. 97.25 expiries are expected to roll off without a hitch but, if mixed with IBD data and Fed Tsry buying, USD/JPY may experience some mid-morning volatility. Oil is higher with many looking at an inverse head and shoulders which will send it to $80-/bbl. It seems that the higher commodity, lower USD theme is back. The transport and housing stocks are lagging the Dow rally suggesting that it may be short lived. This may weigh on crosses. [email protected]
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  • #176,616
  • May 12, 2009 8:54am May 12, 2009 8:54am
Quoting grashid
but am taking at 50% as PA look scary to me...Good luck
Cheers! I took profit too, was looking bullish. Will wait for PA to get back in..
  • #176,617
  • May 12, 2009 8:55am May 12, 2009 8:55am
Quoting pipsbull
Hello there!
It is a h&s pattern, but look at the chart for it to break the neckline not enough!!! It needs a close below 0,618 Fib projection for it to be valid and for downside continuation! See chart:
Thanks for your help.
  • #176,618
  • May 12, 2009 8:57am May 12, 2009 8:57am
Does anyone have the template for the Auto Daily Pivots? The one with the S1-S2-S3 etc. on it? I lost it when my platform crashed last week.
Thankyou, would appreciate it.
  • #176,619
  • May 12, 2009 9:00am May 12, 2009 9:00am
Quoting uksnowman
Cheers! I took profit too, was looking bullish. Will wait for PA to get back in..
congrat...am load long @ 147.60&147.50 and will trying to catch back H1 ~ 32.8%-23.6% @ 148.60...maybe too early as I need to out early as well...will trying to monitor in 1 hr and see how shea play...good luck
  • #176,620
  • May 12, 2009 9:02am May 12, 2009 9:02am
Quoting OGW
Thanks for your help.
I believe these patterns have to be more clearly defined than that and the one on EUR/JPY is.
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