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  • #11,381
  • May 13, 2009 1:31am May 13, 2009 1:31am
Quoting seattlerust
Here is another Gartley. This is the 1H chart of the EURJPY. This is an almost "perfect" pattern completing at about 131.00 which is a very nice support level easily seen on both the 4H chart, but best on the daily. There are three Fibs in confluence at this level too.

I will have my eye on this one.

SR
Nice call seattle, that was very helpful.

  • #11,382
  • May 13, 2009 1:35am May 13, 2009 1:35am
looking at a sell on GU maybe, it's just been a choppy weak dollar all night so far though so I don't know, definitely want to see how we finish this hour and open up. it's been sitting around an H4 trendline on the topside
  • #11,383
  • May 13, 2009 1:40am May 13, 2009 1:40am
Quoting smittens4212
looking at a sell on GU maybe, it's just been a choppy weak dollar all night so far though so I don't know, definitely want to see how we finish this hour and open up
I'm looking into it.

So far I see 15374 is daily R and it is also at the top of the current rising channel.

GBP Inflation report is in 3hrs so take that into consideration.

One possiblility is a double top at the 4hr GMTclose and a sell off at the news.
  • #11,384
  • Edited 2:02am May 13, 2009 1:43am | Edited 2:02am
yup I've got the same level (5371)

and if you're watching volume on the 15m, it's all pointing to a sell off but we'll wait and see.. may take one before the hour closes

edit: short at 5290, will let it do its thing im going to sleep

I could wait for news, it's not worth it for me though I'd rather take the early trade and possible loss and be able to go back to bed

edit2: man this thing moves fast at open, I need to be watching this every day
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  • #11,385
  • May 13, 2009 2:50am May 13, 2009 2:50am
Hi guys. I am looking at waiting for a buy on pound at 150 and euro at 572. If it doesnt happen it doesnt.
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  • #11,386
  • May 13, 2009 4:22am May 13, 2009 4:22am
Friends,

couple days ago I mentioned the waiter's hand was imo a bullish sign.. It was back around 1.46 or so
Now I believe here's the same thing, and more than that, cable was bought back twice above the former resistance (white line)
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forget about tomorrow, just steal away into the night
  • #11,387
  • May 13, 2009 4:46am May 13, 2009 4:46am
Quoting RedCabbage
I'm looking into it.

So far I see 15374 is daily R and it is also at the top of the current rising channel.

GBP Inflation report is in 3hrs so take that into consideration.

One possiblility is a double top at the 4hr GMTclose and a sell off at the news.
This reaction is why it is worth keeping an eye on what is coming up.
  • #11,388
  • May 13, 2009 4:50am May 13, 2009 4:50am
as per earlier chart, I will not be taking automatic buy at 150 until I see if it moves through to 091 line, which would be preferable.
  • #11,389
  • May 13, 2009 5:05am May 13, 2009 5:05am
Gone for the breakout here, at break even.

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  • #11,390
  • May 13, 2009 5:05am May 13, 2009 5:05am
uh-oh, someone unloaded a pocketful of quid. I mean that king-kong red candle on cable (and GJ too)

well forex is not for little pussies who scream .. if you can't stand the heat, get off my street, get off my street...

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Quoting spekitox
Friends,

couple days ago I mentioned the waiter's hand was imo a bullish sign.. It was back around 1.46 or so
Now I believe here's the same thing, and more than that, cable was bought back twice above the former resistance (white line)
forget about tomorrow, just steal away into the night
  • #11,391
  • May 13, 2009 5:07am May 13, 2009 5:07am
took the trade and am up 20 with target back at 252 but will exit early if necessary.
  • #11,392
  • May 13, 2009 5:14am May 13, 2009 5:14am
Nice trade on the pound Tori, love your work, just love it!

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  • #11,393
  • May 13, 2009 5:18am May 13, 2009 5:18am
Thanks for that. notice how it stopped at 1hr line, where I took profit to see if it goes down again. If it sits there a while I would be happy to take it back up again and will judge on 5 min chart. I figured the time played into things, a stab down just before the hour turn over, and it was happening across the board.
[
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  • #11,394
  • May 13, 2009 5:20am May 13, 2009 5:20am
sorry wrong chart. gbpusd
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  • #11,395
  • May 13, 2009 5:25am May 13, 2009 5:25am
I really do apologise. I am referring to the second chart, not the first one and you would think I am scrambled, but try to get charts off quickly when I mention something and saved the wrong one. You can clearly see the pound hitting on that one hour line, so if it goes over that I will wait to see if it sits there on 5 min candles, then take it up from there. That will be 2 bites but same amount of pips, and done more safely because as yet I am not sure.
  • #11,396
  • May 13, 2009 5:32am May 13, 2009 5:32am
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eurjpy. I am looking at this when it comes down to 130.70. If it goes through this line then 12980 area, but I will judge it on what eurusd and usdjpy are doing. I know they dont all move same way all the time, but after a big drop if I see them all turn, and I am at a major line, then that is my signal. I wont touch it unless it drops down or goes way up. It would be in the middle of too much congestion and therefore more risky.
  • #11,397
  • May 13, 2009 5:40am May 13, 2009 5:40am
Just a note on the pound. eurusd is dropping a little so I am not going back into this pound until I see candles on smaller timeframe looking positive and eurusd looking up again. This might be a time where it drops down to next level, eurusd comes to my line for buy, and if really lucky eurjpy drops as well. Then I will be busy. That is enough from me tonight so good luck everyone.
  • #11,398
  • May 13, 2009 6:06am May 13, 2009 6:06am
I'm typically not a breakout trader, however given the right circumstances I would consider an upside break on the aussie. Lets just hope it doesn't happen over the weekend gap. If the bullish sentiment remains intact, I would definitely expect the aussie to be a beneficiary.

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  • #11,399
  • May 13, 2009 7:34am May 13, 2009 7:34am
I was lucky and took eurjpy from my line and had just excited when it shot down 60 pips in a blink. Does anyone know what was going on as I find that very annoying. I have had a good night and am not going to trade anymore this evening as dont want to get caught in that kind of move.
  • #11,400
  • May 13, 2009 7:46am May 13, 2009 7:46am
gosh, eurusd and gbpusd lines both hit and too good to miss. I expect there was some big announcement but I am making a habit of keeping out of news because is skews my neutral stance. I still have lots to learn if I dont want to get trashed by announcements so will be looking forward to info from others about such. That will definately be it for me tonight.
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