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

  • #189,461
  • Aug 18, 2009 9:27am Aug 18, 2009 9:27am
Quoting quecee5
News related bro it's all news related. . . and normal biz. . . Wait for a gd entry as the ultimate trend in lower, everything else is simply noise. . .
it looks a bit toppy here, might be good for a short

this is what irritates, missed the long thinking it was going down instead.
  • #189,462
  • Aug 18, 2009 9:29am Aug 18, 2009 9:29am
For newbies. . .

Studying swings and pivots is a gd way to determine support and resistance for "geppy." I have found them to be helpful in making a solid entry/exit when unsure where price is going. . .

Again patience is the key and waiting for solid support or a failure at pre-determined resistance levels has proven great when used with other tools for validation such as fibs/tl's and oscillators (rsi, stoch., macd, etc. . .)

http://www.actionforex.com/technical...-200603215764/

http://www.actionforex.com/technical...-200603215756/
  • #189,463
  • Aug 18, 2009 9:34am Aug 18, 2009 9:34am
Quoting quecee5
For newbies. . .

Studying swings and pivots is a gd way to determine support and resistance for "geppy." I have found them to be helpful in making a solid entry/exit when unsure where price is going. . .

Again patience is the key and waiting for solid support or a failure at pre-determined resistance levels has proven great when used with other tools for validation such as fibs/tl's and oscillators (rsi, stoch., macd, etc. . .)

http://www.actionforex.com/technical-analysis/pivot-points/gbpjpy-(pivot-points)-200603215764/...

Great Job Q
MY OPINION NOT FINANCIAL ADVISE
  • #189,464
  • Aug 18, 2009 9:35am Aug 18, 2009 9:35am
Quoting ewokuk
it looks a bit toppy here, might be good for a short

this is what irritates, missed the long thinking it was going down instead.
Well looking at daily pivots and the swing, if we get a 1hr close above 156.18 then 157.92 will be the next target which should present some level of resistance based the broken support TL and other resistance there. . . Now, we could see some level of spike to take out SL just above the figues but I expect 158.70 area to cap the spike if it gets there. . .

Wouldn't take an entry until after NY lunch and when London packs in for the day as price is OS atm and needs some recovery before heading lower. . .

Everything else is noise as stated - look for solid resistance or solid support before entering. . .

Just my take. . .
  • #189,465
  • Aug 18, 2009 9:37am Aug 18, 2009 9:37am
Quoting quecee5
For newbies. . .

Studying swings and pivots is a gd way to determine support and resistance for "geppy." I have found them to be helpful in making a solid entry/exit when unsure where price is going. . .
i use standard and fib pivots, although my standard pivots mt4 indicator can have tmie adjusted to it takes 5pm EST as the close, my fib pivots indicator only goes from midnight on whatever timezone the broker feed is using (GMT generally). its strange though even though the fib pivot one is technically using the wrong time for the close, it seems to stop at the fib pivot levels a lot more than any of the standard pivot levels.

still wondering abuot a short here, its failed to break this high 156.70-80 area several times now

should i have identified support lower down and be in long right now? seems like a lot of waiting for something that might not even happen. if i was to wait hours to get to 158 area and then the trade fails anyway i would not be very pleased having also missed going long earlier. i dont swing trade i rather take 30-40 pips a few times a day, compounding makes it add up faster than waiting days for one trade that might get 700 pips, or might fail and get me nothing after days of waiting. hmmmm
  • #189,466
  • Aug 18, 2009 9:43am Aug 18, 2009 9:43am
Quoting quecee5
U bastard where have you been. . . Yes, I have my shorts at 162/160 and now waiting for another entry for 158 area. . .

Call me u old bastard - u know where. . .

Bro, I though you stuck with granny in Thi$#%#$% R%^&%^&
  • #189,467
  • Aug 18, 2009 9:55am Aug 18, 2009 9:55am
anyone else looking for short here? it failed at this level 4 or 5 times today now

i think that pound rally was caused by some new BoE member saying europe could raise rates first (which no doubt the market took as UK raising rates first not europe, hence the rally).
  • #189,468
  • Aug 18, 2009 9:58am Aug 18, 2009 9:58am
Quoting ewokuk
anyone else looking for short here? it failed at this level 4 or 5 times today now

i think that pound rally was caused by some new BoE member saying europe could raise rates first (which no doubt the market took as UK raising rates first not europe, hence the rally).
sure looks like prety strong resistance thats for sure.

But this is where it shouldve been before the news earlier this morning from NY
  • #189,469
  • Aug 18, 2009 10:07am Aug 18, 2009 10:07am
Quoting PandoraBox
Bro, I though you stuck with granny in Thi$#%#$% R%^&%^&
Bastard!
  • #189,470
  • Aug 18, 2009 10:07am Aug 18, 2009 10:07am
Confluence of resistance now.
1. Downtrend line starting at peak July 8 of 1.6831 and crossing peak of Aug 13 at 1.6664. Price has spiked into that line.
2. Price holding just below R2
3. Price has already moved beyond Avg Daily Range: currently almost 200 pips above the low for the day
  • #189,471
  • Aug 18, 2009 10:07am Aug 18, 2009 10:07am
down!! go down you scummy pound. i shorted at 156.50 now get yo ass down to 156!
  • #189,472
  • Aug 18, 2009 10:08am Aug 18, 2009 10:08am
Quoting ewokuk
anyone else looking for short here? it failed at this level 4 or 5 times today now

i think that pound rally was caused by some new BoE member saying europe could raise rates first (which no doubt the market took as UK raising rates first not europe, hence the rally).
Nope not looking for a short here. . . 4hr chart saying something totally different. . .
  • #189,473
  • Aug 18, 2009 10:09am Aug 18, 2009 10:09am
Quoting ewokuk
down!! go down you scummy pound. i shorted at 156.50 now get yo ass down to 156!
  • #189,474
  • Aug 18, 2009 10:11am Aug 18, 2009 10:11am
Quoting ewokuk
down!! go down you scummy pound. i shorted at 156.50 now get yo ass down to 156!
good for u if we fall , but i dont think so..
good luck!!!
  • #189,475
  • Aug 18, 2009 10:11am Aug 18, 2009 10:11am
Waiting for price to re-test broken support before attempting any shorts and to clear out stops just above that figure. 158 area. . .

  • #189,476
  • Aug 18, 2009 10:15am Aug 18, 2009 10:15am
Quoting quecee5
Bastard!
I know your taste bro

Bloody greedy bastard....how long you want to hold your short from 163......
  • #189,477
  • Aug 18, 2009 10:15am Aug 18, 2009 10:15am
Quoting ewokuk
down!! go down you scummy pound. i shorted at 156.50 now get yo ass down to 156!
you say down I say up, lol.

Long at 156.495 looking for 158 neighborhood as per my earlier post this morning
  • #189,478
  • Aug 18, 2009 10:19am Aug 18, 2009 10:19am
Quoting bluemax
you say down I say up, lol.

Long at 156.495 looking for 158 neighborhood as per my earlier post this morning

down to 156, then up
  • #189,479
  • Aug 18, 2009 10:20am Aug 18, 2009 10:20am
Quoting PandoraBox
I know your taste bro

Bloody greedy bastard....how long you want to hold your short from 163......
149/143 area 1st take profit. . . would love a ride down to yr target of 136
  • #189,480
  • Aug 18, 2009 10:20am Aug 18, 2009 10:20am
Quoting I like steak
I most probably missed out on odd 60 pips not being short till early US session but for once that weekly pivot S1 was my reason for losing interest.

Think we may dance a bit here before next leg down, possibly enter at 155.50? or 157.00 if it is a quick short squeeze?
"fortunately" i think .... but I was to busy this morning at work to look at the markets...and we got a squeeze up and now I am shorting again...target 154 again...

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