Wow... nice attitude!
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #183,641
- Jul 2, 2009 10:22am Jul 2, 2009 10:22am
- | Commercial User | Joined Mar 2009 | 2,480 Posts
- #183,642
- Jul 2, 2009 10:23am Jul 2, 2009 10:23am
- Joined Jun 2006 | Status: Trend is not my friend | 1,492 Posts
- #183,643
- Jul 2, 2009 10:24am Jul 2, 2009 10:24am
- Joined Jan 2009 | Status: bye FF | 8,806 Posts
bro, some of us are still holding shorts from up top, as q mentioned, looks to be a some sort of b wave or (range). nothing new to report, unless you are interested in playing in range channel until it breaks out. i also agree with q's wave count that is to expect to see C wave down. it may take a while for this to play out or has already started, i don't know. but to me, personally, not really interested in opening a new position in a ranging condition.
hope this helps
.....i really dont have any position on till next week i will decide to swing since we are in mid of it..... c ya all later ...1 luv MY OPINION NOT FINANCIAL ADVISE
- #183,644
- Jul 2, 2009 10:27am Jul 2, 2009 10:27am
- Joined Jun 2006 | Status: Trend is not my friend | 1,492 Posts
Many thanks bro. Looks like this PA today is the same as all month...rubbish. Hope to God this gets smashed through the floor and the world descends into chaos, my patience is wearing thin with the beast....
Close computer, enjoy weekend, take next week off, will come back refreshed week after.
All the best bro and have a good weekend
- #183,646
- Jul 2, 2009 10:29am Jul 2, 2009 10:29am
- | Commercial User | Joined Mar 2009 | 2,480 Posts
Well I've been trading since years, usually the month of June has exteremly boring PA, and prices move with logic or trend, but I guess in the second or third week of July, it will go back to normal
- #183,647
- Jul 2, 2009 10:31am Jul 2, 2009 10:31am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Quecee, do you see that there is still a room for GJ to go down again to 156 area today and tomorrow, or it will start ranging or climbing up?
Look at my chart below and you can see a clear short signal on trend traffic and macd. . . also 158/158.30 area should now be resistance. . . you can see how 5 sma (white MA) has crossed green EMA green line. . . that area should now act as resistance. . . Also u can see that we have 3 4hr candle closes below 4hr gann. . . this should be good for another 400-500 pips over the coming days. . .
Best play now is to sell rallies at support areas now turned resistance. . .
- #183,648
- Jul 2, 2009 10:34am Jul 2, 2009 10:34am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Hi Q and all,
Excellent analysis bro.
Watching this PA now at 15700/20. Do you think this will fail (Lower blue line on chart) or are we going to see a bounce from here?
Short at 15808, so wondering wether to lock in and ride or close right now. Seems to be minor support here which could turn into major support?
Seems from chart I posted a few days ago (bottom chart) that senario 2 or 3 is now in play, but swayed towards senario 3
What do you all think? Retest of lower range 15790 before descent again?
Happy trading. . .
- #183,651
- Jul 2, 2009 11:04am Jul 2, 2009 11:04am
- | Commercial User | Joined Mar 2009 | 2,480 Posts
i vote for the latter if thats your attitude.
- #183,652
- Jul 2, 2009 11:43am Jul 2, 2009 11:43am
- Joined Jan 2009 | Status: bye FF | 8,806 Posts
MY OPINION NOT FINANCIAL ADVISE
- #183,655
- Jul 2, 2009 12:32pm Jul 2, 2009 12:32pm
- Joined Nov 2007 | Status: Trader | 1,158 Posts
137 in a single month ? Hard to believe. I'll get off on 150.50. 150 will be tough to break.
i know..
.. hard to believe it...just wait and see frenz 
- #183,657
- Jul 2, 2009 12:49pm Jul 2, 2009 12:49pm
i know..
I'll put a limit buy order that expires in a month from now on 137.50, if it gets activated you'll get a beer on me - #183,658
- Jul 2, 2009 1:08pm Jul 2, 2009 1:08pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
hi guys...
just wanna update for this month preview... i'm looking for more bias downtrend this month..
for my expect geppy wanna go... 137.xx...this month.. wish me luck...i smell some weak votality bullish coz geppy fail break out 'F'(162.xxx) zone area ...wish me luck again.
This is my view as well fising
a daily close below 156.96 will see excellerated declines IMO
"Millionaires don't use astrology, billionaires do"
- #183,659
- Edited 2:12pm Jul 2, 2009 1:56pm | Edited 2:12pm
- | Commercial User | Joined Mar 2009 | 2,480 Posts
This is my view as well fising
Strange looking back through some of my charts that I posted on here over the last few weeks.
My money is on the fact that this rally is in actual fact one very large bear flag such as preceeded last years fall. It took a lot of patience and fustration waiting and waiting for it to play out then...this time I am more relaxed and just trade both sides of the market whilst anticipating the fall to come.
For some reason I entered at 15808 before we hit 162 area. I thought that 158/9 would be as high as we went due to the daily reversal formation. Holding on I watched as the head formed at 162. I could have jumped out and re-entered at 162 giving me a better entry price, but was prepared to sacrifice a scout with a large SL and watch...
The 3rd chart shows that I thought a breach here would lead to 16014, few days later hit 16028 and was happy right shoulder doing it's "thing" lol. Im not bragging, Im show reaffirming to myself the meaning of PATIENCE.
Over the month I have watched as first the left, then head and then right hand shoulder developed....but...I trade daily, and due to the lack of PA in the last couple of weeks have zoomed down to the lower TF's and picked off a few pips here and there. The problem with zooming in is that you forget the larger picture as you are busy harvesting....you forget to watch your back picking the harvest by hand as the large Red Combine harvester is suddenly on you, catching you unaware in its blades.
Zooming in to the lower TF's has been fustrating. I will be glad when the daily starts to unfold from my 15808 entry....and yes, 137 is certainly a possibility in a couple of months. Didnt we fall 10000 pips in just over 6 months? Did I lose patience waiting for the top to unfold last year? Most certainly.
Enough of my ramblings lol, what I am trying to say is this:
The Bull rally is over.
The REAL recession is just about to commence.
The Great depression will seem like a minor blip compared to the severity of this one.
However, I remain flexible (thanks Q) and will go with the market either way, but I am on the Short side for now until proven wrong by PA.
A couple of charts from a couple of weeks ago...Oh BTW, the last one is the most appropiate I think
All the best of trading bro's and have a great week
- #183,660
- Jul 2, 2009 2:09pm Jul 2, 2009 2:09pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"