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

  • #186,921
  • Jul 31, 2009 5:57pm Jul 31, 2009 5:57pm
You maybe right but fundamentals this year been screwing up many setups in the past..

Wait and see sunday...


My weekly chart looks different with TL drawing..
Good debate..



Quoting warta
well bro we r all sutdent in this ocean be sure ,
i cant ignore that will see more up room to full up the setting of the bearish wedge but the bias long term is bearish bro
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  • #186,922
  • Jul 31, 2009 6:06pm Jul 31, 2009 6:06pm
bro the GEPPY is linked with 2 major pair , GBP/USD & USD/YEN

i agree cable is up but i agree too that USD/YEN is down

here is the chart (USD/YEN)

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  • #186,923
  • Edited Aug 1, 2009 2:56am Jul 31, 2009 10:13pm | Edited Aug 1, 2009 2:56am
Quoting rgitt05
Remember the monthly candle is not finish until Sunday opening before 7pm if I am not mistaken...

IMHO

Monthly Pin Bar is still in the picture...Bias is still bullish

Even though I shorted this just before the close of friday... My bias is still Bullish

Think we have till Sunday for the close of Weekly Candle..Monthly is done.. New Candle on Sunday for new month.

Well if it breaks 153.85 decisively.. I will think Bearish short term.

that monthly looks like a PIN BAR.( THATS NOT A CANDLE STICK PATTERN). It also looks like a hanging man..Opened the Book.. it is also called UMBRELLA LINES.

a STRONG REVERSAL SIGNAL. but should be confirmed........Ideally stock should trade BELOW it.. the following session... and should also CLOSE below it.

So we have A Whole month to figure this out... from the next monthly Candle..

My thoughts are it will get the Buyers Nervous..( those buying from the bottom and those who bought it at top) They will be forced to close their positions or take losses.

It will be good for sellers short term. So next month(Sept) we will have BULLS back with VENGENCE..This OCTOBER is not going to be RED... it will be Bullish......!!!!!

Lets see what Sunday Brings. I hope we dont go 500pips UP and 500 PIPS down before market opens... like we had last year when price was at around 195xx.. Remember..!!
Markets are not Random, they are designed!
  • #186,924
  • Aug 1, 2009 12:28am Aug 1, 2009 12:28am
i don't believe in this classification, bullish/bearish pin bars... just don't get me wrong.
a pin bar is just a pin bar: there is no apparent direction in the market at that moment. indecision. PA will be confirmed by the close of the next bar.
or, might be a reversal sign, but again, we will not know until the close of the next bar.


Quoting warta
for a valid Bullish Pin Bar, price must move down forming a long pin at least twice the size of the head (distance between the close and open) and return to close at or higher than the low of the previous bar
&
4 a valid Bearish Pin Bar, price must move up forming a long pin at least twice the size of the head (distance between the close and open) and return to close at or lower than the high of the previous bar
Nihil Sine Deo.
  • #186,925
  • Aug 1, 2009 1:36am Aug 1, 2009 1:36am
Quoting Scrat
i don't believe in this classification, bullish/bearish pin bars... just don't get me wrong.
a pin bar is just a pin bar: there is no apparent direction in the market at that moment. indecision. PA will be confirmed by the close of the next bar.
or, might be a reversal sign, but again, we will not know until the close of the next bar.
well bro we r all wondering and hoping but PA will have the last word
  • #186,926
  • Aug 1, 2009 1:45am Aug 1, 2009 1:45am
Quoting pipmasterJ1
well if im stuck in short from 156.83 should hold it ????? should start moving back in my direction by monday ...and if yes about how fare down do you think its going to go before going back up
No one knows whether you should continue to hold your short and no one knows how far it will go down or if it will go down at all. A bearish looking monthly Doji means nothing by itself because this pair will be pushed and pulled by the influence of other currencies - but mostly by GBP/USD - we know this by comparing the general 'shape' of Daily or Weekly charts - it resembles most closely the GBP/USD.

I'm sure you had a trade plan with a stop loss, so stay with - if your stop loss gets hit YOU will know your system/methodology was wrong this time - if your target gets hit YOU will know your system/methodology was right this time. It should be no big deal either way. That's how trading works...
I've got my pips - go get yours!
  • #186,927
  • Aug 1, 2009 2:45am Aug 1, 2009 2:45am
as we can see a typical trend line come after 2 top or bottom forming 3 full wedges ABCD as we can see the pink line

but the blue line is not a typical trendline yet as we cant identify the end of the 2nd wedges on (3 ?? ) before the formation of the 3rd wedge comfirmed by (4 ??? ) thats why i cant see that we have a break of the blue trend line coz the 2nd wedge 2,3 still in construction the top 3 it may be higher then 162 area or who knows

so i still believe in a bearish hanging man pattern comming on a S/R area and never a break of a minor down trend as its not complete yet

its only my logic point of view

here is the chart

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  • #186,928
  • Edited 4:01am Aug 1, 2009 3:30am | Edited 4:01am
Weekly close is important .. SUNDAY SHOULD BE VOLATILE!!!

In this weekly chart we can see what we have on monthly... the same doji.. pin bar.. umbrella line and what have you....

BUT we have a Bull Flag In the Making.. Its at a critical point ..Breakout can also happen right from here..

So the Bias Remains Bullish until the lower TL is broken (red line).

Some retrace is expected... if there is no Breakout. At this point WEEKLY chart is More Important than the MONTHLY.
Few examples below.. and G/J weekly chart.

"BULL" FLAG IN AN UPTREND (BULLISH)
http://www.chartpatterns.com/images/ng2bul~1.gif
After a sharp rally, this "bull" flag served as a breather before running off again in the same direction. You can see the volume ease up a bit in the beginning of the flag, but then pick up as it nears the top of the formation and blows through it.

"BULL" FLAG IN AN UPTREND (BULLISH)
http://www.chartpatterns.com/images/clbull~1.gif
"Bull" flag in an uptrend. Quick rally, short pause, blast higher. Volume dips in the flag and surges on the breakout.
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Markets are not Random, they are designed!
  • #186,929
  • Aug 1, 2009 5:43am Aug 1, 2009 5:43am
Quoting Scrat
i don't believe in this classification, bullish/bearish pin bars... just don't get me wrong.
a pin bar is just a pin bar: there is no apparent direction in the market at that moment. indecision. PA will be confirmed by the close of the next bar.
or, might be a reversal sign, but again, we will not know until the close of the next bar.
everything is always confirmed by the close of the next bar. if you always wait for the close of the NEXT bar, you will never make a trade lol
  • #186,930
  • Aug 1, 2009 10:59am Aug 1, 2009 10:59am
just wondering if some people trade without Bias....major resistance 157, is broken and bigger tf still billish , candle sitting above 50sma weekly ..monthly candle will closed doji .....that monthly candle cant be hammer, that real body is too small...
PA bullish...trade your chart not what u think will happen, overconfident cant run this game..
u all have lovely weekend..
MY OPINION NOT FINANCIAL ADVISE
  • #186,931
  • Edited 12:02pm Aug 1, 2009 11:20am | Edited 12:02pm
By: Frederic_Simons

Today, the US Dollar finished its day at the lows of the week, and - in fact - also at the lows of the entire year, at 78.35:

You can be sure that a such a low closing price will not remain unnoticed, as the US Dollar is literally staring into the abyss, with the descending triagle pattern looking at a target of around 67.

What will happen next week ?



Will the dollar index bounce off the 78.35 support level?

GU looks bullish
UJ looks bearish

Fundamentals is what will determine the direction..

How do the world see US economy? Will risky asset end now?

Sunday asian opening will be very interesting..

PA will be big this month of August...

Get ready for some major PA..

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  • #186,932
  • Aug 1, 2009 2:03pm Aug 1, 2009 2:03pm
Quoting rgitt05
By: Frederic_Simons

Today, the US Dollar finished its day at the lows of the week, and - in fact - also at the lows of the entire year, at 78.35:

You can be sure that a such a low closing price will not remain unnoticed, as the US Dollar is literally staring into the abyss, with the descending triagle pattern looking at a target of around 67.

What will happen next week ?



Will the dollar index bounce off the 78.35 support level?

GU looks bullish
UJ looks bearish

Fundamentals is what will determine the direction..

How do...
Thanks for the expert analysis.
Been bullish A/U since start of the year and will continue to do so as the dollar shifts into overdrive and plunges in to the abyss.
History is written by the victors.
  • #186,933
  • Aug 1, 2009 3:29pm Aug 1, 2009 3:29pm
Quoting ewokuk
everything is always confirmed by the close of the next bar. if you always wait for the close of the NEXT bar, you will never make a trade lol
says who?
  • #186,934
  • Aug 1, 2009 4:01pm Aug 1, 2009 4:01pm
ok you guys are confusing me with these bull-bear because it depends on which time frame yall talking about- ---bull long term or shortterm ---- bear long or short term ----??????????????????????????????????????????????
  • #186,935
  • Aug 1, 2009 4:08pm Aug 1, 2009 4:08pm
Quoting pipmasterJ1
ok you guys are confusing me with these bull-bear because it depends on which time frame yall talking about- ---bull long term or shortterm ---- bear long or short term ----??????????????????????????????????????????????
what do you think?
  • #186,936
  • Aug 1, 2009 4:29pm Aug 1, 2009 4:29pm
answering a question with a question what the fuck sence that makes if u cant help dont answer at all i think its going down at least to 156.50 before anything
  • #186,937
  • Aug 1, 2009 6:14pm Aug 1, 2009 6:14pm
Quoting rgitt05
By: Frederic_Simons

Today, the US Dollar finished its day at the lows of the week, and - in fact - also at the lows of the entire year, at 78.35:

You can be sure that a such a low closing price will not remain unnoticed, as the US Dollar is literally staring into the abyss, with the descending triagle pattern looking at a target of around 67.

What will happen next week ?



Will the dollar index bounce off the 78.35 support level?

GU looks bullish
UJ looks bearish

Fundamentals is what will determine the direction..

How do the world...
look at all the selling vol on dx daily ... talk about low vol test. No selling pressure. GU marked up like mad out of no where

If Monday Tuesday are up days .... then 85 it is

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Blogging daily now at www.volume.zone
  • #186,938
  • Aug 1, 2009 6:52pm Aug 1, 2009 6:52pm
You are right about low selling volume, but I like the analysis post about Monday crash from this article I found.

EU is due for a drop on a cup and handle formation on the daily chart which will help the US$ and the GU rally thru the high of the year(bullish PA)

Fundamentals is going to rally this dollar index this coming week from the lows..I think the sell-off friday really was for a better position to buy..

..If the 78.00 support zone holds on Sunday asian opening than this could be the big rally to the 50% fib(167.00) on the daily GJ charts...I am bullish anyway..All my TF from the daily to monthly is screaming bullish after breaking the major TL..( refer to my old post)

http://www.forexfactory.com/showpost...stcount=186864









Quoting malcolmb14
look at all the selling vol on dx daily ... talk about low vol test. No selling pressure. GU marked up like mad out of no where

If Monday Tuesday are up days .... then 85 it is

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  • #186,939
  • Aug 1, 2009 7:10pm Aug 1, 2009 7:10pm
Anyone know a good site that has a collection of indicators for VT Trader system?
--post hoc ergo propter hoc--
  • #186,940
  • Aug 1, 2009 8:21pm Aug 1, 2009 8:21pm
Quoting Monk
Anyone know a good site that has a collection of indicators for VT Trader system?

VT Trader has enough indicators... you need more???

I use VT trader. Dont think you can up load indicators on Vt trader.
Markets are not Random, they are designed!
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