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

  • #205,001
  • Oct 21, 2009 11:06am Oct 21, 2009 11:06am
We had a superb UCad movement to the downside. Opportunity to long? Let's see how price play out at F50 or F68
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  • #205,002
  • Oct 21, 2009 11:07am Oct 21, 2009 11:07am
Quoting kingrex
Just close Geppie trade held since 10/08/09 for + 1000 pips.

Dangit why can't this happen in my live accounts just once 8)

hmm you need a trading journal for this...okay are u sure u can over leverage your equity like this in 1 day? this is demo and cus it's demo u keep adding on..if it was ur real acc emotion will kill you first and u will need over 100k to hook suck trading skills..
MY OPINION NOT FINANCIAL ADVISE
  • #205,003
  • Oct 21, 2009 11:10am Oct 21, 2009 11:10am
GJ 5, 15, h1, h4 all nicely primed for a move down of some sort now
  • #205,004
  • Oct 21, 2009 11:10am Oct 21, 2009 11:10am
Quoting A-speculator
We had a superb UCad movement to the downside. Opportunity to long? Let's see how price play out at F50 or F68

I am looking for same thing bro..that was a test of broken fractal or point 2 ....i will see if i can get signal on small tf...
long is not bad but tight sl
MY OPINION NOT FINANCIAL ADVISE
  • #205,005
  • Oct 21, 2009 11:15am Oct 21, 2009 11:15am
Quoting donfriday
hmm you need a trading journal for this...okay are u sure u can over leverage your equity like this in 1 day? this is demo and cus it's demo u keep adding on..if it was ur real acc emotion will kill you first and u will need over 100k to hook suck trading skills..

Yes you are right 100k would be wha I needed to trade at these lot sizes.
This was a 12 day trade that was made after the huge selloff at the end of Sept quarter.

1 or 2 like this in my live account and I should have the 100k needed to kaboom...
  • #205,006
  • Oct 21, 2009 11:34am Oct 21, 2009 11:34am
Quoting A-speculator
We had a superb UCad movement to the downside. Opportunity to long? Let's see how price play out at F50 or F68
nah not yet i think....we need to wait imo
COT: The precious data ignored
  • #205,007
  • Oct 21, 2009 11:36am Oct 21, 2009 11:36am
Quoting donfriday
I am looking for same thing bro..that was a test of broken fractal or point 2 ....i will see if i can get signal on small tf...
long is not bad but tight sl
Yups.. trade it after a confirmed price momentum to the upside.. certainly not now.. need to have some patience.. you might not get the bottom price but at least the position that you entered have minimal drawdown..
  • #205,008
  • Oct 21, 2009 11:47am Oct 21, 2009 11:47am
hey guys, to anyone trading GBP/CAD. It seems that we may be ready for a huge reversal to the downside. Formed a pin at the daily trendline. What do guys think.
  • #205,009
  • Oct 21, 2009 12:08pm Oct 21, 2009 12:08pm
Quoting A-speculator
well, hopefully it won't fly there first.. I was hoping a pullback.. if it does fly there from here, I may have to TP all my position @ 153..

at 152.74 it will be the end of the wave 5
but i should explain..

wave1 : 139.70 to 143.20 ( 350 pips )
wave2 : 143.20 to 141.16 ( 204 pips, which means 58% * w1 )
wave3 : 141.16 to 149.29 ( 813 pips, which means 2.32 * w1 )
wave4 : 149.29 to 147.07 ( 222 pips, 27% * w3 )
wave : ... still in progress...

now, w3 was bigger than 1.62*w1, so for w5 remains three ways...
1) to get an end at 150.57 ( 350 pips from 147.07, which is the length of w1)

2) to go to 152.74 ( 567 pips from 147.07, which is 1.62 * the length of w1 )

3) to overextend to 156.24 ( 917 pips, which is 2.62 * the length of w1 )

but the wave 3 was extended and a runaway type of wave and this should make w5 tend to stop on the channel drawn from the top of w1... so that should be 152.74..
LOL
  • #205,010
  • Oct 21, 2009 12:14pm Oct 21, 2009 12:14pm
Quoting karimfx
at 152.74 it will be the end of the wave 5
but i should explain..

wave1 : 139.70 to 143.20 ( 350 pips )
wave2 : 143.20 to 141.16 ( 204 pips, which means 58% * w1...
sounds complicated with all this waves..

well, i'm not buying it.. I think there will be retracement with the minimum value is 150.80.. However, that is just a minor support so further move down can still occur, if that happens, 150 might be the most significant resistant maybe to 149.40 in case of GJ overexcited..
  • #205,011
  • Oct 21, 2009 12:18pm Oct 21, 2009 12:18pm
Oh I love EU.. it's just move up and up and up... easy 100pip and counting.. Hope everyone here get this up move..
  • #205,012
  • Oct 21, 2009 12:24pm Oct 21, 2009 12:24pm
WEAKEST LINK SINCE JANURARY...
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MY OPINION NOT FINANCIAL ADVISE
  • #205,013
  • Oct 21, 2009 12:35pm Oct 21, 2009 12:35pm
pros will ONLY rapidly move price thru resistance if they expect higher prices.

i am looking for 152.5 to 155 this week.

Quoting ukdaytrader
Something not quite right about this move up. Low volume rapidly marked-up through resistance when some significant buying yesterday failed to do it. Then I noticed this.....

There was a massive spike up in volume yesterday. Here's a 4 hr chart showing the increase and the selling that occurred within the bar. Brown elipse.

Chart.
Attachment

We're very near the short term top here I think.
Blogging daily now at www.volume.zone
  • #205,014
  • Oct 21, 2009 12:36pm Oct 21, 2009 12:36pm
Quoting karimfx
at 152.74 it will be the end of the wave 5
but i should explain..

wave1 : 139.70 to 143.20 ( 350 pips )
wave2 : 143.20 to 141.16 ( 204 pips, which means 58% * w1...

the 5th wave have also 5 smaller waves.. and now we are in the 4th small wave.. so, let's see..

wave 5.1 : 147.07 to 149.36 ( 229 pips )
wave 5.2 : 149.36 to 148.11 ( 125 pips which means 55% * w5.1, and that's between 50% and 62% * w5.1... )
wave 5.3 : 148.11 to 151.51 ( 346 pips which means 1.51 * w5.1 )
wave 5.4 : still in progress... but it will go to 150.68 ( 24% of w5.3 ) or maybe 150.20 ( 38% of w5.3 ).. or really extended to 149.78 ( 50% of w5.3 )..

it coming up next w5.5.. so, we saw that w5.3 is 1.51 * w5.1, so that means less than 1.62.. so, the w5.5 it will overextend itself..

first let's say that w5.4 it will stop at 150.68.
that means it is important the length formed by beginning of w5.1 and the end of w5.3 which is by 443 pips, so the extended w5.5 it will go to :
0.62 * 443 pips = 275 pips ( tp 153.43 )
1 * 443 pips = 443 pips ( tp 155.11 )
1.62 * 443 pips = 718 pips ( tp 157.86 )

secondly let's say that w5.4 it will stop at 150.20, so the extended w5.5 it will go to :
0.62 * 443 pips = 275 pips ( tp 152.95 )
1 * 443 pips = 443 pips ( tp 154.63 )
1.62 * 443 pips = 718 pips ( tp 157.38 )

3thly let's say that w5.4 it will stop at 149.78, so the extended w5.5 it will go to :
0.62 * 443 pips = 275 pips ( tp 152.53 )
1 * 443 pips = 443 pips ( tp 154.21 )
1.62 * 443 pips = 718 pips ( tp 156.96 )

ok.... we have important tp for the big w5 at 152.74 and minor tpoints for the small w5.5 at 152.53 - 152.95 - 153.43 area...
also, we know that usually the wave 5 ends between 0.62 - 1 * w1.. so 152.74 is also confirmed

so the chance for 152.74 to be the end of the big w5 still in progress is really big.. so, what the elliot masters think?
LOL
  • #205,015
  • Oct 21, 2009 12:45pm Oct 21, 2009 12:45pm
Quoting A-speculator
sounds complicated with all this waves..

well, i'm not buying it.. I think there will be retracement with the minimum value is 150.80.. However, that is just a minor support so further move down can still occur, if that happens, 150 might be the most significant resistant maybe to 149.40 in case of GJ overexcited..
i personally think that it will retrace to 150.20 ( the tp of w5.4 from my second post ) and after that it will come the up move the 3 tpoints from my second post : 152.95, maybe 154.63, or extended to 157.38 ...
LOL
  • #205,016
  • Oct 21, 2009 12:47pm Oct 21, 2009 12:47pm
This is how I view GJ.. Since deceleration sighted in daily, I think we will start to slow down from here.. 200-300 more pip to the upside is possible but certainly will not be 600 pip in a day. The major resistance is 153 as don says it, and I agree with him. I notice that lately, every rally will only bring small retracement if not a brief period of consolidation.

Whatever it is, until proven otherwise, I will stay will the current trend as long as it takes.
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  • #205,017
  • Oct 21, 2009 12:49pm Oct 21, 2009 12:49pm
Quoting A-speculator
This is how I view GJ.. Since deceleration sighted in daily, I think we will start to slow down from here.. 200-300 more pip to the upside is possible but certainly will not be 600 pip in a day. The major resistance is 153 as don says it, and I agree with him. I notice that lately, every rally will only bring small retracement if not a brief period of consolidation.

Whatever it is, until proven otherwise, I will stay will the current trend as long as it takes.
so if my first tp is 152.95 ( like i said ), i can agree with him too?
LOL
  • #205,018
  • Oct 21, 2009 12:50pm Oct 21, 2009 12:50pm
Quoting karimfx
the 5th wave have also 5 smaller waves.. and now we are in the 4th small wave.. so, let's see..

wave 5.1 : 147.07 to 149.36 ( 229 pips )
wave 5.2 : 149.36 to 148.11 ( 125 pips which means 55% * w5.1, and that's between 50% and 62% * w5.1... )
wave 5.3 : 148.11 to 151.51 ( 346 pips which means 1.51 * w5.1 )
wave 5.4 :...
i'm sorry I have to say this. If you're a fond of mathematics, fine. But to write all this calculation of idiot waves without posting a chart is unacceptable. Hopefully, you can post a chart with your prediction of waves next time.

Good day bro..
  • #205,019
  • Oct 21, 2009 12:50pm Oct 21, 2009 12:50pm
Quoting A-speculator
Oh I love EU.. it's just move up and up and up... easy 100pip and counting.. Hope everyone here get this up move..


sell entries picked @ 5038
"Millionaires don't use astrology, billionaires do"
  • #205,020
  • Oct 21, 2009 12:51pm Oct 21, 2009 12:51pm
Quoting A-speculator
This is how I view GJ.. Since deceleration sighted in daily, I think we will start to slow down from here.. 200-300 more pip to the upside is possible but certainly will not be 600 pip in a day. The major resistance is 153 as don says it, and I agree with him. I notice that lately, every rally will only bring small retracement if not a brief period of consolidation.

Whatever it is, until proven otherwise, I will stay will the current trend as long as it takes.
but how does someone get in when the bluddy thing never retraces?
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