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

  • #180,921
  • Jun 4, 2009 9:31pm Jun 4, 2009 9:31pm
I see a good base forming around 155.50-155.80. The drop today was impulsive and with out any bases. Uptrend is not broken. Closing below 155.50 ( on the hourly) invalidates. Looking for a retest of at least 159.
  • #180,922
  • Jun 4, 2009 9:45pm Jun 4, 2009 9:45pm
Two support zones for possible reversal..

Trade your charts..

Attached Image (click to enlarge)
Click to Enlarge Name: setupA.png Size: 71 KB
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  • #180,923
  • Jun 4, 2009 9:45pm Jun 4, 2009 9:45pm
Quoting harigp
H4 chart QQE crossing down below 50
can i have ur Indi and Template....
tq in advanced...
  • #180,924
  • Jun 4, 2009 9:48pm Jun 4, 2009 9:48pm
Quoting rgitt05
Two support zones for possible reversal..

Trade your charts..

So glad to see you are back Rgitt05. For a while I thought you quit this thread and was sad.
  • #180,925
  • Jun 4, 2009 10:06pm Jun 4, 2009 10:06pm
there're spikes in volume on M5 and M15, likely selling activity.
I recommend you read something else as this sentence is now concluded.
  • #180,926
  • Jun 4, 2009 10:07pm Jun 4, 2009 10:07pm
Hi Janela,

If the 4hr TL holds, than I project the 150.00 as a TP friday..

IMHO




Quoting janela
So glad to see you are back Rgitt05. For a while I thought you quit this thread and was sad.
Attached Image (click to enlarge)
Click to Enlarge Name: setupB.png Size: 86 KB
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  • #180,927
  • Jun 4, 2009 10:15pm Jun 4, 2009 10:15pm
Hi Normeck

Use XPM in one hour chart with input 13 and for H 4 CHART with input 34

CC1 PERIOD 20
Attached File(s)
File Type: tpl gj.tpl   47 KB | 355 downloads
File Type: ex4 #Signal_Bars_v6.ex4   54 KB | 354 downloads
File Type: ex4 QQE_Alert_MTF_v5.ex4   19 KB | 313 downloads
File Type: mq4 xpMA.mq4   16 KB | 312 downloads
File Type: mq4 CCI.mq4   4 KB | 329 downloads
  • #180,928
  • Jun 5, 2009 12:02am Jun 5, 2009 12:02am
Quoting malcolmb14
newer traders note this .... the use of zones. I have often spoken to new traders that say support is 155.6578790 ..lol ( ok that is an exageration) , support is in the 155.5 zone ( meaning that within a percentage of the exact number you should be looking for reversals) .
This was a big issue for me in the past. But now I finally got it through my thick head that supply and demand areas are Zone/Areas and I have to use my observations when price is in these areas to make my descisions.
  • #180,929
  • Jun 5, 2009 12:06am Jun 5, 2009 12:06am
thanks for mentioning that
i was getting tired of idiots telling me support is at 155.23 rather than saying 155.20-40s for example

people need to realize that support is in no way an exact number
  • #180,930
  • Jun 5, 2009 12:52am Jun 5, 2009 12:52am
Guaranteed support at 0, it simply cannot go below that.
  • #180,931
  • Jun 5, 2009 1:02am Jun 5, 2009 1:02am
Quoting forexlion
Guaranteed support at 0, it simply cannot go below that.

forexlion - you sure are an interesting character...
  • #180,932
  • Jun 5, 2009 1:05am Jun 5, 2009 1:05am
Quoting forexlion
Guaranteed support at 0, it simply cannot go below that.
Yes but before that, I think we will retrace for about 1 hour, and after that, the London traders will come online and I am sure will take us lower.
  • #180,933
  • Jun 5, 2009 1:10am Jun 5, 2009 1:10am
Quoting forexlion
Guaranteed support at 0, it simply cannot go below that.
Actually that would be mathematically undefined, since the reciprocal (the other currency) would be worth 1 / 0. You could, however, argue it cannot go below lim-> 0.000000000000000000000000000001 in which case the reciprocal be something like 1000000000000000000000000000000 which probably is possible if a country prints enough money to get one there.
Any mathematicians around here to opine on this?
Hear the music before the song is over ...
  • #180,934
  • Jun 5, 2009 1:14am Jun 5, 2009 1:14am
Quoting GlobalMacro
Actually that would be mathematically undefined, since the reciprocal (the other currency) would be worth 1 / 0. You could, however, argue it cannot go below lim-> 0.000000000000000000000000000001 in which case the reciprocal be something like 1000000000000000000000000000000 which probably is possible if a country prints enough money to get one there.
Any mathematicians around here to opine on this?
Hey Global - you still short on GU? You own the bank now?


Though these days not that prestigous title anymore....
  • #180,935
  • Jun 5, 2009 1:24am Jun 5, 2009 1:24am
Quoting I like steak
Hey Global - you still short on GU? You own the bank now?


Though these days not that prestigous title anymore....
Hi I - How u doin'?

No, I closed my entire short position wednesday on my target level. Worked out pretty good, caught couple of nice swing turns, so I'm chilling GU for now.

Yea, I guess it's our turn , "We The People" to get our fair share.
Hear the music before the song is over ...
  • #180,936
  • Jun 5, 2009 1:25am Jun 5, 2009 1:25am
Quoting GlobalMacro
Actually that would be mathematically undefined, since the reciprocal (the other currency) would be worth 1 / 0. You could, however, argue it cannot go below lim-> 0.000000000000000000000000000001 in which case the reciprocal be something like 1000000000000000000000000000000 which probably is possible if a country prints enough money to get one there.
Any mathematicians around here to opine on this?
You need to get out more.
  • #180,937
  • Jun 5, 2009 1:30am Jun 5, 2009 1:30am
Quoting GlobalMacro
couple of nice swing turns

Sure been a wild week...for me in anycase. Will see what today brings - see US futures flat for now...
  • #180,938
  • Jun 5, 2009 1:36am Jun 5, 2009 1:36am
why do i keep getting the feeling that we are going up big time today, can anyone find a reason for this on the charts.
  • #180,939
  • Jun 5, 2009 1:37am Jun 5, 2009 1:37am
Quoting I like steak
Sure been a wild week...for me in anycase. Will see what today brings - see US futures flat for now...
There were some imbalances in the market this week which needed to be adjusted which caused some hefty gyrations. Probably best to wait out a base for this retracement to build longs if one's going for the medium term.

Are u active in index futures as well?
Hear the music before the song is over ...
  • #180,940
  • Edited 1:56am Jun 5, 2009 1:40am | Edited 1:56am
Quoting forexlion
why do i keep getting the feeling that we are going up big time today, can anyone find a reason for this on the charts.
Yea, I smell a trap. Closed shorts now and will wait for the break.
Perhaps a pop up to shake out the weak shorts, then tankage after NFP.

EDIT: Doh!! lol
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