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

  • #221,561
  • Apr 20, 2010 7:57am Apr 20, 2010 7:57am
  • #221,562
  • Apr 20, 2010 8:04am Apr 20, 2010 8:04am
Short @ 93.00
SL @ 93.80
TP @ 91.8

Based on bearish divergence and reaching UTL
If I wasn't so uncertain about GU's future I would short GJ
Don't be a hero. Don't have an ego. Always question yourself
  • #221,563
  • Apr 20, 2010 9:08am Apr 20, 2010 9:08am
Quoting Scrat
on the other hand, immediate direction must be judged keeping in mind daily closed ABOVE last weekly close = this means that weekly direction has been stopped for now and price wants to test resistances. which are @ 142.80/143.15. if this is strong enough, then we will see another move down, below 140 - i suspect 135.60 area.
Its started to play out consolidating
Read the entire market, money is made on the main trend not the fluctuation
  • #221,564
  • Apr 20, 2010 10:03am Apr 20, 2010 10:03am
lower time frames look like they are forming a bull flag. If it doesn't break convincingly lower soon we could definitely see higher prices.
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  • #221,565
  • Apr 20, 2010 10:07am Apr 20, 2010 10:07am
Quoting Geppy
lower time frames look like they are forming a bull flag. If it doesn't break convincingly lower soon we could definitely see higher prices.
Hi there, how are you bro? yes is forming new high on H1 again, but the bearish divergence is getting stronger
  • #221,566
  • Apr 20, 2010 10:09am Apr 20, 2010 10:09am
Quoting special0nefx
Hi there, how are you bro? yes is forming new high on H1 again, but the bearish divergence is getting stronger
Don't let me fool ya'... I've got my burmudas on
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  • #221,567
  • Apr 20, 2010 10:12am Apr 20, 2010 10:12am
Quoting Geppy
Don't let me fool ya'... I've got my burmudas on
  • #221,568
  • Apr 20, 2010 10:15am Apr 20, 2010 10:15am
Quoting special0nefx


Interesting how she's struggling so hard with that 143.25 zone... tweezer top here on the 1H?
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  • #221,569
  • Apr 20, 2010 10:20am Apr 20, 2010 10:20am
it's struggling because this is the main resistance area. normally, it should not go significantly higher, IF at all. but if this is cleared, 144.10 is next and bears are in jeopardy.

support, for now, stands @ 142.20 area, and as a confirmation i would like to see an h4 close below this level.

Quoting Geppy


Interesting how she's struggling so hard with that 143.25 zone... tweezer top here on the 1H?
Nihil Sine Deo.
  • #221,570
  • Apr 20, 2010 10:23am Apr 20, 2010 10:23am
Quoting Scrat
it's struggling because this is the main resistance area. normally, it should not go significantly higher, IF at all. but if this is cleared, 144.10 is next and bears are in jeopardy.
Gotcha, I'm a n00b and don't know much about these resistances you speak of
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  • #221,571
  • Apr 20, 2010 10:26am Apr 20, 2010 10:26am
yeah me neither. i just pulled them out of thin air because i don't know who's actually selling or buying.

Quoting Geppy
Gotcha, I'm a n00b and don't know much about these resistances you speak of
Nihil Sine Deo.
  • #221,572
  • Apr 20, 2010 10:30am Apr 20, 2010 10:30am
Quoting Scrat
yeah me neither. i just pulled them out of thin air because i don't know who's actually selling or buying.
Well I'm selling so now you know that... I just don't really know why lol.

Any chance you could through up a vwap chart when you have a sec? Don't need any explanation, just don't haev mine all set up yet (still working through it in my spare time).
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  • #221,573
  • Apr 20, 2010 10:33am Apr 20, 2010 10:33am
I see so many people on this thread that are really good at charting.. I have tried to learn. I have read some books. But the seem to beat around the bush and try to push their special charting software. Does anyone know of any good books that teach technical analysis in a text book style? YOu know... direct and to the point. When I look at the charts I see posted it reminds me of the game pick up sticks. Don't worry, I didn't put a magnet up to my monitor... ha ha ha The point is. I want to know how to read and interpret my charts better. Any positive imput or guidance would be greatly appreciated. Also... are elliot waves, candlesticks, ichimoku, etc very good for charting? I just need some guidance as to where to focus my study on.
Luck has no place in trading. Leave that for the poker table.
  • #221,574
  • Apr 20, 2010 10:34am Apr 20, 2010 10:34am
Oh yeah~! What ever happened to the person who started this thread? Will they come back?
Luck has no place in trading. Leave that for the poker table.
  • #221,575
  • Apr 20, 2010 10:40am Apr 20, 2010 10:40am
Looks like I am targeting 144 for tp. More of just an mm reason than any particular technical observation.

That and over 144 is the bull killing zone for some time.
  • #221,576
  • Apr 20, 2010 10:45am Apr 20, 2010 10:45am
yes, of course, here is the profile for today.

really nice distribution @ 142.88 (and vwap is coming along @ 142.40), but well, without any confirmation it might be just a consolidation before another rally.

Quoting Geppy
Well I'm selling so now you know that... I just don't really know why lol.

Any chance you could through up a vwap chart when you have a sec? Don't need any explanation, just don't haev mine all set up yet (still working through it in my spare time).
Attached Image (click to enlarge)
Click to Enlarge Name: g-j_daily_profile.gif Size: 15 KB
Nihil Sine Deo.
  • #221,577
  • Apr 20, 2010 10:48am Apr 20, 2010 10:48am
Quoting Cod
Looks like I am targeting 144 for tp. More of just an mm reason than any particular technical observation.

That and over 144 is the bull killing zone for some time.
you mean bear?
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  • #221,578
  • Apr 20, 2010 10:49am Apr 20, 2010 10:49am
Quoting Scrat
yes, of course, here is the profile for today.

really nice distribution @ 142.88 (and vwap is coming along @ 142.40), but well, without any confirmation it might be just a consolidation before another rally.

Thanks!

Confirmation meaning price trading below vwap, yes?
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  • #221,579
  • Edited 11:35am Apr 20, 2010 11:08am | Edited 11:35am
daily R-2 & daily Gann,10
http://www.forexfactory.com/showpost...stcount=221516
Attached Image
  • #221,580
  • Apr 20, 2010 11:10am Apr 20, 2010 11:10am
143.6 looks like a nice place to short
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