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

  • #177,061
  • May 13, 2009 9:43pm May 13, 2009 9:43pm
Quoting tonycashflow
Could it bounce up to the 146 area soon?

I have a few buy trades between 144.87 to 145.89.

Any thoughts on what I should do?

Thanks
AS of now I would cut it as soon as possible...
There was 15min bearish divergence with touch of 50ema and TL. It may be just ready for another low...
I'm short on g/u and e/u and I see a dip on pound below 1,5, but doubt it will stay there, hence bringing gj down
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  • #177,062
  • May 13, 2009 9:50pm May 13, 2009 9:50pm
hi Pipsbull. How do you determine potential areas for targets with your system? do you use Fibs or something??
  • #177,063
  • May 13, 2009 9:56pm May 13, 2009 9:56pm
Quoting gillybabe
hi Pipsbull. How do you determine potential areas for targets with your system? do you use Fibs or something??
I use for support/resistance such tools:
Fib projection
Fib retracement
Gann
Pivot Points
ema
TL
note: The list is not in order of importance.
p.s. One can think it is too much and complicated, but if the trader not mixing all that together and determine which one is more appropriate to apply it is g00d.
  • #177,064
  • May 13, 2009 10:03pm May 13, 2009 10:03pm
thanks. Just wondered as your charts look soo clean!
  • #177,065
  • May 13, 2009 10:03pm May 13, 2009 10:03pm
144.03 should bring a minor bounce back into 144.58 before continuing down.

but if broken then definitely 143.49
  • #177,066
  • May 13, 2009 10:12pm May 13, 2009 10:12pm
Quoting forexlion
144.03 should bring a minor bounce back into 144.58 before continuing down.

but if broken then definitely 143.49
i am watching this closely on the 5 min chart.

i left the volume analysis and went back to my own method, modifying it down to the 5 min chart usage.
  • #177,067
  • May 13, 2009 10:31pm May 13, 2009 10:31pm
I just open short and my target is around 141.96 area.
1.4493 is my confirmation level... if she play above this level i will cut loss my position... wish me luck

KG
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  • #177,068
  • May 13, 2009 10:37pm May 13, 2009 10:37pm
hi all. daily chart is still screaming short but on lower tf we have some bullish divergences which can stop geppy from falling for the moment.
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  • #177,069
  • May 13, 2009 10:45pm May 13, 2009 10:45pm
Quoting suntzu
hi all. daily chart is still screaming short but on lower tf we have some bullish divergences which can stop geppy from falling for the moment.
true, i need a 30 min support to break for this beast to start tanking, this is what is holding it afloat at the moment.
  • #177,070
  • May 13, 2009 10:49pm May 13, 2009 10:49pm
Quoting rgitt05
On higher TF, PA respect the major TL..If the daily TL breaks than I have the 141.50-80 area as my possible target on the weekly TL..(possible Reversal zone)

Trade your chart..

IMHO

Thanks mate..looks like mine same page with your...
  • #177,071
  • May 13, 2009 10:52pm May 13, 2009 10:52pm
Quoting forexlion
Agree, we need to get this thread back on serious trading.
i was talking about the 90 pip bounce off of 4400....but all the same
--post hoc ergo propter hoc--
  • #177,072
  • May 13, 2009 10:53pm May 13, 2009 10:53pm
Quoting grashid
Thanks mate..looks like mine same page with your...
  • #177,073
  • May 13, 2009 10:53pm May 13, 2009 10:53pm
Quoting forexlion
i am watching this closely on the 5 min chart.

i left the volume analysis and went back to my own method, modifying it down to the 5 min chart usage.
there are many ways to skin a cat ...

and if your method works for , as it seems to , then why change it ?
Blogging daily now at www.volume.zone
  • #177,074
  • May 13, 2009 10:59pm May 13, 2009 10:59pm
A very basic indicator which gives a view on whats going on on the current timeframe and the current candle.

Nothing to do with complex analysis, i use it purely to see the current price from across the room while moving around.
Attached File(s)
File Type: mq4 bid.mq4   2 KB | 233 downloads
  • #177,075
  • May 13, 2009 11:03pm May 13, 2009 11:03pm
Unless yean breaks the TL, I don't see any significant retracement to begin. Pound is bearish on my chart and may push towards 1,5. Which all puts pressure on g/j for the downside
usd/jpy 30min says it all:
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  • #177,076
  • May 13, 2009 11:04pm May 13, 2009 11:04pm
this blue line is what is currenly holding GJ afloat, i need this to break to confirm further tanking.

lets see how it goes
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  • #177,077
  • May 13, 2009 11:09pm May 13, 2009 11:09pm
Quoting forexlion
this blue line is what is currenly holding GJ afloat, i need this to break to confirm further tanking.

lets see how it goes
on 15 min it is this blue line which is holding as current resistance, should it break, i will be forced to close my shorts.
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  • #177,078
  • May 13, 2009 11:10pm May 13, 2009 11:10pm
Quoting forexlion
this blue line is what is currenly holding GJ afloat, i need this to break to confirm further tanking.

lets see how it goes
what line is that?
--post hoc ergo propter hoc--
  • #177,079
  • May 13, 2009 11:12pm May 13, 2009 11:12pm
Quoting forexlion
on 15 min it is this blue line which is holding as current resistance, should it break, i will be forced to close my shorts.
well i am out for now, too risky to continue the shorts.
  • #177,080
  • May 13, 2009 11:13pm May 13, 2009 11:13pm
Quoting Monk
what line is that?
T3 triple exponential moving average value 13 [forexlion standard indicator]
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