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

  • #222,441
  • Apr 25, 2010 11:36pm Apr 25, 2010 11:36pm
I should be take off and rest in trading...

Monthly=Bullish
Weekly = can be bull and bear to me. If bear it could be last one at max 142-141.50/60 but if break 141 then i will review back my bias....

Currently look bull but it could be bull trap as well.

So as my conclusion, stay away and take a rest is better than make any guessing or gambling...and close my last 2 week long from 141.30 at 145.30. I wont take any risk .

cheers

g
  • #222,442
  • Apr 25, 2010 11:37pm Apr 25, 2010 11:37pm
Quoting Pipsqueak
Sometimes the best analysis are the ones without chart. Maybe some people trade naked so they don't need chart.
  • #222,443
  • Apr 25, 2010 11:45pm Apr 25, 2010 11:45pm
Quoting Pipsqueak
Sometimes the best analysis are the ones without chart. Maybe some people trade naked so they don't need chart. But I agree with him (and most on this board) that a huge drop is coming. I loaded shorts at 145.50 with SL at 148 targeting 139.50. If price actually hits 148 this week or next week, then it's very possible that the weekly ema 50 might be broken. Highly unlikely but still possible. As always, buy low at support and sell high at resistance.
I don't get you, even if you are trading naked you are looking at your chart and you see something on it to make your decision, whether it is some kinda pattern or a candle, for instance with this U/Cad chart you can trade naked only by looking at the chart but at the end you are looking at some points.
to me you are trading either technical or fundamental unless you are gambling.
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  • #222,444
  • Apr 25, 2010 11:49pm Apr 25, 2010 11:49pm
Quoting shahab8b
I don't get you, even if you are trading naked you are looking at your chart and you see something on it to make your decision, whether it is some kinda pattern or a candle, for instance with this U/Cad chart you can trade naked only by looking at the chart but at the end you are looking at some points.
to me you are trading either technical or fundamental unless you are gambling.
  • #222,445
  • Apr 26, 2010 12:00am Apr 26, 2010 12:00am
Quoting shahab8b
Hi Kourtney, why don't you post a chart or something and reason why you think that way.
I liked the Chart You posted...Diametric Formation...

Let me Put a Chart up on COURTNEYS behalf..

ITS POSSIBLE..
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Markets are not Random, they are designed!
  • #222,446
  • Apr 26, 2010 12:29am Apr 26, 2010 12:29am
the chart shows that Geppy is playing Roller Coaster... (Up and Down)
row row row your boat
  • #222,447
  • Apr 26, 2010 12:50am Apr 26, 2010 12:50am
Quoting kourtney
Pandora you too? wow....now that is bad....from u I wasnt expecting it.

Sorry bro.........weekly show bullish....monthly show bullish..... I buy on the dip since GJ drop to 132 area...
  • #222,448
  • Apr 26, 2010 12:55am Apr 26, 2010 12:55am
Quoting kourtney
amd now i think the downtrend should start... i do not beleive in a bullish trend.

first we reach 133.00 then buy whatever you want...ok I know some of u may think Im crazy all i see is the weekly chart telling me that stochastics are at the top on each chart and actually i keep seeing 129 as posible target too

i try to see the bullish long term trade and just dint see it

What I want to know is.....Why you can't see bullish mode at bigger TF. That why I asked you what TF do you used...? You used M1? or MN?

But anybody have their own analyse....I respect with it.
  • #222,449
  • Apr 26, 2010 1:03am Apr 26, 2010 1:03am
@dear pandora
Im using mush TF....
if it hits 145, then it will not hit 147, if it hit 148 it will not hit 150, etc etc.... I believe it will drop till 122.... Hahaha... Kidding guys...

still unable to accept the truth geppy love bull than bear... Haiz...
row row row your boat
  • #222,450
  • Edited 1:21am Apr 26, 2010 1:07am | Edited 1:21am
Quoting kourtney
Pandora you too? wow....now that is bad....from u I wasnt expecting it.

I think he was asking what Time Frame.....not cursing....bit of a language barrier perhaps?

"What TF" can have a very different connotation in English.....
  • #222,451
  • Apr 26, 2010 1:21am Apr 26, 2010 1:21am
Quoting GBReal
I think he was asking what Time Frame.....not cursing....bit of a language barrier perhaps?
Not really language barrier IMO, just misunderstanding. I never would have seen it that way though- kinda funny...
  • #222,452
  • Apr 26, 2010 1:24am Apr 26, 2010 1:24am
Quoting ngiler
@dear pandora
Im using mush TF....
if it hits 145, then it will not hit 147, if it hit 148 it will not hit 150, etc etc.... I believe it will drop till 122.... Hahaha... Kidding guys...

still unable to accept the truth geppy love bull than bear... Haiz...
Well you joke but there are still reasons for bears to be interested.

Whenever the PA moves this much, so quickly, there is always a retracement of sorts and it will come when we least expect it. Look at how rapidly we moved through resistance since the Asian open. There are lots of bearish divergences still in play. Indices are also overbought with bearish divergences. But most importantly the UK election next week will have major significance:
If Cameron wins outright - Bullish for Sterling.
If Brown wins outright - Bearish for Sterling.
Hung parliament - Bearish for Sterling.

At the moment, most polls are pointing to a hung parliament, but we could still see Sterling rally further before a major sell-off.

Of course it now looks bullish; we kept bouncing hard after rapid moves down and have now moved 600+ pips up in a few days. But there is unfinished business across the charts.

JMHO of course.
  • #222,453
  • Apr 26, 2010 1:36am Apr 26, 2010 1:36am
Although I'm reading the chart as bullish and heading towards my previous targets, I don't get the sense we're going to take off too high during this London session. May see a reach for 146.1/2, but based on the previous down candle, an indeterminate 1st day of the week session, and tenuous news on the whole EU situation, I'd think a dip down to build bull support would still be required. The current H4 candle has 2.5hrs to go, hence I'm seeing it close as a down candle, and we may be waiting for NY launch support.

M15 currently looking a bit unable to get past 145.6, but the next hour of London and equity market openings should set the tone.

Am a little concerned over what looks like very low volume during the Asia session - not sure what to make of that. Asia PA has also launched itself over a key (yellow) TL from 132.5 that's seen excellent adherence; if the next few H4 bars launch/keep PA over this TL, I'm seeing bullish mode on. But, if you're not in a trade yet, don't force one, as the current environment & first weekly session isn't the best time for entry.
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  • #222,454
  • Apr 26, 2010 1:46am Apr 26, 2010 1:46am
Quoting AllDayIrish
Not really language barrier IMO, just misunderstanding. I never would have seen it that way though- kinda funny...

I'm so sorry if he misunderstanding
  • #222,455
  • Apr 26, 2010 2:39am Apr 26, 2010 2:39am
It will be a very nice area in order to go SHORT !





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  • #222,456
  • Apr 26, 2010 2:54am Apr 26, 2010 2:54am
Quoting ukdaytrader
Well you joke but there are still reasons for bears to be interested.

Whenever the PA moves this much, so quickly, there is always a retracement of sorts and it will come when we least expect it. Look at how rapidly we moved through resistance since the Asian open. There are lots of bearish divergences still in play. Indices are also overbought with bearish divergences. But most importantly the UK election next week will have major significance:
If Cameron wins outright - Bullish for Sterling.
If Brown wins outright - Bearish for Sterling.
Hung...
UK..when expected we may seen the election result...pls advice..Thanks
  • #222,457
  • Apr 26, 2010 3:01am Apr 26, 2010 3:01am
Quoting grashid
UK..when expected we may seen the election result...pls advice..Thanks
Hi G.
The UK election is next Thursday 6th. Counting is always very quick and the result will be known by approx 3.00am BST on the 7th, (11.00am Tokyo time, 10.00pm EST (6th)).

I will be trading the entire night session UK time as early indications of a winner/majorities etc, will make Sterling move very strongly.

I'm even contemplating starting an election night thread with regular updates, but we'll see.
  • #222,458
  • Apr 26, 2010 3:24am Apr 26, 2010 3:24am
I'm a novice of the Andrew's Pitchfork method, but on this one; it looks like GBP has breached the middle prong.....does this indicate still up?
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  • #222,459
  • Apr 26, 2010 3:44am Apr 26, 2010 3:44am
it may be the 4th wave (5-3-3-3 pattern) not sure
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  • #222,460
  • Apr 26, 2010 3:46am Apr 26, 2010 3:46am
Quoting ukdaytrader
Well you joke but there are still reasons for bears to be interested.

But most importantly the UK election next week will have major significance:
If Cameron wins outright - Bullish for Sterling.
If Brown wins outright - Bearish for Sterling.
Hung parliament - Bearish for Sterling.

At the moment, most polls are pointing to a hung parliament, but we could still see Sterling rally further before a major sell-off.


JMHO of course.
Hey I got a question, why if Labour win or there is hung parliament its bearish for pound...ok i kinda understand why hung parliament is bearish but why labour win is also?
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