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

  • #185,901
  • Jul 26, 2009 9:33pm Jul 26, 2009 9:33pm
Quoting forex888
Can anyone tell me what is the short form of PA please?
Price Action
  • #185,902
  • Jul 26, 2009 9:34pm Jul 26, 2009 9:34pm
Rocket power coming?
  • #185,903
  • Jul 26, 2009 10:05pm Jul 26, 2009 10:05pm
Still sidelined.

If price closes above 5SMA within the next hour, I will be looking closely at the price reaction when it bounces off the 4H Gann.

That will decide where we will be the heading in the medium-short term.

If it breaks clean of the Gann, I will be looking to go long at the retest.

If it bounces off, I will stay sidelined because I feel that short trades will be the wrong way to go at the moment, especially with the current indecision and low downward momentum.

I'm still hoping for it to retest 154.50 and observe the price action at that level because of the strong support before going long, but we will see what happens in the next few hours.

My bias is still bullish, even if it drops a hundred pips from here.

My bias will only change to bearish if it breaks clean of 154.50, retests and then continue on downwards.
  • #185,904
  • Jul 26, 2009 10:18pm Jul 26, 2009 10:18pm
went long @ 156.05, SL 155.10 .

GJ is really direction less by now, with more chances i got the long side.

now it's all about chances, trade today if you really want to risk some pips.

Good luck guys
Making money not by predicting just by following ...
  • #185,905
  • Jul 26, 2009 10:21pm Jul 26, 2009 10:21pm
Quoting gl4di4t0r
went long @ 156.05, SL 155.10 .

GJ is really direction less by now, with more chances i got the long side.

now it's all about chances, trade today if you really want to risk some pips.

Good luck guys

I'm not too sure that's a good idea, especially since GJ is really direction less, like you said. It's like a coin toss at the moment.

But everyone has their own analysis. Your charts have probably signaled a buy trade.

I'm still sidelined.

It's getting interesting now, curious as to how this is going to play out.
  • #185,906
  • Jul 26, 2009 10:43pm Jul 26, 2009 10:43pm
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  • #185,907
  • Jul 26, 2009 10:43pm Jul 26, 2009 10:43pm
Quoting Skylar Locke
I'm not too sure that's a good idea, especially since GJ is really direction less, like you said. It's like a coin toss at the moment.

But everyone has their own analysis. Your charts have probably signaled a buy trade.

I'm still sidelined.

It's getting interesting now, curious as to how this is going to play out.
excellent
Making money not by predicting just by following ...
  • #185,908
  • Jul 26, 2009 10:46pm Jul 26, 2009 10:46pm
Quoting warta
Attachment
better to see how London react..then decide...I would like to see ur 154.80 too and 152.50-150.50 is my target if she able to react...
  • #185,909
  • Jul 26, 2009 10:46pm Jul 26, 2009 10:46pm
i'm going to sleep again , c u later guys
Making money not by predicting just by following ...
  • #185,910
  • Jul 26, 2009 10:47pm Jul 26, 2009 10:47pm
Quoting Skylar Locke
I'm not too sure that's a good idea, especially since GJ is really direction less, like you said. It's like a coin toss at the moment.

But everyone has their own analysis. Your charts have probably signaled a buy trade.

I'm still sidelined.

It's getting interesting now, curious as to how this is going to play out.
  • #185,911
  • Jul 26, 2009 11:01pm Jul 26, 2009 11:01pm
Call it what you like,
i like the PA "Popping North"...

I think that earlier evening open of 156.19
was the statement, and this is the follow up
ride...
We shall see!
Enjoy,
Terrapin Pipper,

Jeff
I will work to Objectively Identify my Edges
  • #185,912
  • Jul 26, 2009 11:03pm Jul 26, 2009 11:03pm
Quoting grashid
better to see how London react..then decide...I would like to see ur 154.80 too and 152.50-150.50 is my target if she able to react...

are u trading what u see or u just bear on this pair?

my update still bull.
Attached Image (click to enlarge)
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MY OPINION NOT FINANCIAL ADVISE
  • #185,913
  • Jul 26, 2009 11:06pm Jul 26, 2009 11:06pm
I'm not jumping on the north bandwagon until I see how price action reacts at 156.50, if it gets that far.

That's a critical point on my charts, with Fib resistance from my Daily and H4 charts, as well as the H4 Gann.

If it breaks clean and retests, only then will I think about making a trip with the bulls subject to candle formation confirmation and price action.
  • #185,914
  • Jul 26, 2009 11:06pm Jul 26, 2009 11:06pm
Holy Breakout Batman - huge volume and 20 pips in <3 seconds, and still climbing to almost double that. What a beast. What gives - a demand surge?
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  • #185,915
  • Jul 26, 2009 11:15pm Jul 26, 2009 11:15pm
possibly euro news?
With Great Money Management Comes Great Success PATIENCE
  • #185,916
  • Jul 26, 2009 11:18pm Jul 26, 2009 11:18pm
Quoting Spider-Man
possibly euro news?
we r trading pound / yen bro
  • #185,917
  • Jul 26, 2009 11:24pm Jul 26, 2009 11:24pm
Well, price has bounced off the 4H Gann, as well as the H4 and Daily Fib resistance.

We will see if the bulls have what it takes to try and test it again, and maybe break clean from it.

The candle formation of the H1 candle closing in the next 30-40 minutes might tell the short term sentiment of the market, as to whether it's going to try for a bearish retracement to 154.50-155.00, or let the bulls take control for another run north.
  • #185,918
  • Jul 26, 2009 11:25pm Jul 26, 2009 11:25pm
I also bull..yen lack of strength
  • #185,919
  • Jul 26, 2009 11:27pm Jul 26, 2009 11:27pm
Quoting Spider-Man
possibly euro news?
looks like it
--post hoc ergo propter hoc--
  • #185,920
  • Jul 26, 2009 11:34pm Jul 26, 2009 11:34pm
japan girls begin ...
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