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

  • #215,081
  • Feb 10, 2010 4:42am Feb 10, 2010 4:42am
Quoting ewokuk
funny that litle upthrust right into resistance 5 mins before it tanks isnt it. fukers aint gonna get us that easily!

shorted at 141.25

Me , @141.31 Targetting 139.38

* Never Trust To Any Indicator *
  • #215,082
  • Feb 10, 2010 4:46am Feb 10, 2010 4:46am
Quoting ewokuk
funny that litle upthrust right into resistance 5 mins before it tanks isnt it. fukers aint gonna get us that easily!

shorted at 141.25. gotta watch pivot at 140.28 see if it bounces for 3rd time today. its been trending up so bounce off the pivotis possible.
I see the DPP @ 140.425, but either way, I don't see the pivot in play for a down move - it'll be more the established support levels. (And just to confuse things, actionforex has DPP @ 140.34.) Good on you for shorting where you did - I'm not judging this yo-yo PA as well as I could be; hard to I find, when, the moves make no sense; clearly, manipulation is in play.
  • #215,083
  • Feb 10, 2010 4:47am Feb 10, 2010 4:47am
Just went long on the dip. We've tested this level 3 times now, so it's a reasonable r/r that we'll break it. Short term volumes suggest some buying too.
Some lovely bearish divergence building on the 4hr TF, but not yet I think.

Long @ 140.72. I won't hold it for long if we crash though....
  • #215,084
  • Feb 10, 2010 4:47am Feb 10, 2010 4:47am
im not expecting it to get below the pivot unless something else drives it down there. gu has already bounced off its pivot and thats stopping gj dropping any further at the moment. it might go back up from here actually but uj isnt playing ball yet.

i like to avoid going against the current 1h candle at least so ill wait at least 10 mins more before i consider another long.

its above the open and above the pivot so at the moment its buy dips i think
  • #215,085
  • Feb 10, 2010 4:54am Feb 10, 2010 4:54am
Quoting Shad
Now , I'm Sure That It Is A Triple Top


Waiting for H1 bar completion...my feeling is if the last bar cant close below 140.8 we might shoot up
  • #215,086
  • Feb 10, 2010 5:04am Feb 10, 2010 5:04am
Quoting Myrza
Waiting for H1 bar completion...my feeling is if the last bar cant close below 140.8 we might shoot up


It Could !



By The Way The Correct Number Is 140.76 ( 23.6 % Fibo )
* Never Trust To Any Indicator *
  • #215,087
  • Feb 10, 2010 5:04am Feb 10, 2010 5:04am
will anyone explain to me this forex system and send me the required indicators?
Help would be greatly appreciated..Email: [email protected]

Thanks.
  • #215,088
  • Feb 10, 2010 5:06am Feb 10, 2010 5:06am
Quoting Shad
Now , I'm Sure That It Is A Triple Top

Whilst I don't disagree with longer term shorts, triple tops are usually a heavy indication of an imminent break.

Set-test-break.

Just something to be wary of.
  • #215,089
  • Feb 10, 2010 5:29am Feb 10, 2010 5:29am
Please post. I would be interested to see the chart.

Quoting Gucc
actually 139.90/140..if it dont test that level,, you can leave a buy order at that level. it will get tested sometime and it will have a bounce .. ill post later a chart with explanations...
  • #215,090
  • Feb 10, 2010 5:31am Feb 10, 2010 5:31am
My View

( 3th & 5th Waves R Equal )

:nerd:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY, M30_20100210.jpg Size: 130 KB
* Never Trust To Any Indicator *
  • #215,091
  • Feb 10, 2010 5:35am Feb 10, 2010 5:35am
Quoting Shad
My View

( 3th & 5th Waves R Equal )

:nerd:
No more waves? What's next per the chart/waves?
  • #215,092
  • Feb 10, 2010 6:04am Feb 10, 2010 6:04am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting USD-Bear
Well in that case market will solve your problems........

That's a good one.
Being right is one, taking it from the table is two.
  • #215,093
  • Feb 10, 2010 6:08am Feb 10, 2010 6:08am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting PipinStein
Anything that's worth it is hard. I think most people's problem with trading is that they are overleveraged. The market is setup to scare you out of you're posistions so you have to keep them reasonably sized to not trade scared. I've been trading a long time and I can tell you that my best trades are when I'm not thinking about them all the time. If you take a trade and you can't walk away from the computer screen then you're posistion size is too big. Stick with it, it gets easier, everyone pays their dues.
Absolutely right!

"set-and-forget"
Being right is one, taking it from the table is two.
  • #215,094
  • Feb 10, 2010 6:16am Feb 10, 2010 6:16am
Just added a second long @ 140.26. Not convinced yet by a sustained move down and the 5m TF is o/s and has bullish divergence.

Average price - 140.49.
  • #215,095
  • Feb 10, 2010 6:21am Feb 10, 2010 6:21am
Quoting PipinStein
Anything that's worth it is hard. I think most people's problem with trading is that they are overleveraged. The market is setup to scare you out of you're posistions so you have to keep them reasonably sized to not trade scared. I've been trading a long time and I can tell you that my best trades are when I'm not thinking about them all the time. If you take a trade and you can't walk away from the computer screen then you're posistion size is too big. Stick with it, it gets easier, everyone pays their dues.
i think hes right. i reduced my position size and as if by magic i somehow managed to start taking trades that always seemed to go flying the right way instead of instantly turning the wrong way. i was also able to take good pips from them instead of moving my stop up and getting whipped out for 1 pip all the time.

i actually felt comfortable just opening the trade and leaving it without worrying at all. I wasnt using a stop, position was such that if it went flying 300 pips the wrong way i could either try to average myself out, hedge it against another pair (since my broker doesnt allow hedging) or just close it and take the loss. somehow i managed to go through december with a single losing trade.

then of course i screwed it up in jan, went back to trading too big trying to recover losses, and started getting wiped out again.
  • #215,096
  • Feb 10, 2010 6:23am Feb 10, 2010 6:23am
Quoting ukdaytrader
Just added a second long @ 140.26. Not convinced yet by a sustained move down and the 5m TF is o/s and has bullish divergence.

Average price - 140.49.
i think there may be some greek bailout news later today which might see the yen pairs fly again, hopefully. the only thing slightly worrying me is eurgbp might go flying up, sending gu tanking and stopping gj from going up.
  • #215,097
  • Feb 10, 2010 6:27am Feb 10, 2010 6:27am
Well , If We Consider It As A Double Top ( Not Triple Top ) In H1 Or H4 TF , Our Target Must Be Between 138.75 & 139.00 That To My Opinion It Might Be 138.90
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPY, H4_20100210.jpg Size: 110 KB
Click to Enlarge Name: doubletop.jpg Size: 23 KB
* Never Trust To Any Indicator *
  • #215,098
  • Feb 10, 2010 6:28am Feb 10, 2010 6:28am
Quoting Shad
My View

( 3th & 5th Waves R Equal )

:nerd:

WAVE 5 can't be that one from your picture

reason: it is too short and the top of wave5 is the same like the top of wave 3

from your chart all we can see is that we have a double top
LOL
  • #215,099
  • Feb 10, 2010 6:40am Feb 10, 2010 6:40am
Quoting Shad
Well , If We Consider It As A Double Top ( Not Triple Top ) In H1 Or H4 TF , Our Target Must Be Between 138.75 & 139.00 That To My Opinion It Might Be 138.90
before those double tops, gj didn't had a strong uptrend

from 138 to 141.40 aproximatelly, we have 340 pips ( in 3 days ), which means 110 pips / day
this is a normal range for this pair

that's why this double top isn't so strong and i personally think that it will be broken up

i f we considering the divergence ( not complete yet ) in 4h tf, i strongly think that gj could go this week to 142.60 ( the 61.8 fib retracement of 145 >> 138 last week trend
LOL
  • #215,100
  • Feb 10, 2010 6:45am Feb 10, 2010 6:45am
gj might break up, depends what happens with greeceeuro. any good news then yen weakens and gj goes up (not necessarily due to pound strength).

average range for gj in last 30 days is 221 pips per day. we are on 136 so far today. say another 80 either up or down is possible to meet its average so we should expect either a test of 139.30 support, or a break of 141.50 and test of 142 area.

obviously a quiet day might not make any further moves up or down, or it might be a volatile day and go way past it. still the average gives a reasonable target for end of day price.
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