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

  • #222,701
  • Apr 27, 2010 7:19pm Apr 27, 2010 7:19pm
Bro...any drop might limit to certain support ...

139.30..previous support.

136... Weekly Gann.

132.... previous low...



Quoting fullhouse
LONDON BRIDGE IS FALLING DOWN !!

PANDORA BOX ... you mention that weekly and monthly is bullish ??

how can you clarrify it ?

yes intra day upto daily was upto 2day bullish,but weekly and monthly was all the way still bearish according to my charts and channels ...

look at this chart channel ..

break of the red TL would turn focus on low and next ?? 130 / 128 ? even lower ? who knows ??

the time ticking ...........
  • #222,702
  • Apr 27, 2010 7:24pm Apr 27, 2010 7:24pm
the sooner we can get in closer to the high of 146 the better we in position ..its like poker ..play your possition (the button) ..then more we had control on this downmove ..then you can start buffing the bulls etc ... we might run inbetween 140 and 146 for another week,,but THE TOP IS IN PLACE @ 146..above that then its 150 to 160 ... if you can afford a stop above 146 its then time to short,,if not then wait for 144 or higher ...

ill wait for a closer move to 144 then i start short for SWING TRADE .target LOW 132 ,even lower 130 ...

its only my view and my tradeplan coming weeks !
  • #222,703
  • Apr 27, 2010 7:46pm Apr 27, 2010 7:46pm
Would this be the proper way to use the Andrew's Pitchfork?


P.S.:This is on the daily.
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  • #222,704
  • Apr 27, 2010 7:49pm Apr 27, 2010 7:49pm
Quoting Eulogy
straight line channels on a log chart?
I don't understand ur question,

What is so strange with that ?
  • #222,705
  • Edited 8:10pm Apr 27, 2010 7:55pm | Edited 8:10pm
i did exit ..cut a loss ....i will re enter long at 140.79 stop below 139.50 ,,target 144.60 ,reverse then for short for swing trade and add on every rally at 78.6 all the way upto the breakout .... look closely ..similar pattern like the prev ones ...still in very early stages and a big guess ...i might think agian only triangles ..but lets see
  • #222,706
  • Apr 27, 2010 8:02pm Apr 27, 2010 8:02pm
Quoting fullhouse
i did exit ..cut a loss ....i will re enter long at 140.79 stop below 139.50 ,,target 144.60 ,reverse then for short for swing trade..

hope i see something here that might be the right way
Hi, Fullhouse,

May I ask why you would choose to enter at 140.79? I'm looking at my chart and I'm having a difficult time seeing why that is a good place to enter.

V/r,

-T
  • #222,707
  • Apr 27, 2010 8:08pm Apr 27, 2010 8:08pm
Quoting 5ysfx
I don't understand ur question,

What is so strange with that ?
Its strange because its not usual you see FX charts shown using a logarithmic scale. Any false breakouts, truncated waves etc will be highly exaggerated at the lower end, and minimalised at the upper end, both of which will be equally confusing when looking at horizontal s/r levels.
  • #222,708
  • Apr 27, 2010 8:30pm Apr 27, 2010 8:30pm
Hello everybody..this is my time calculation on daily tf.. mid of mei i will sell gj..now gj shoul go up first,, my target buy within 14140-14000 area. what do u think?

http://img197.imageshack.us/img197/7...april1416m.gif
  • #222,709
  • Apr 27, 2010 8:37pm Apr 27, 2010 8:37pm
Quoting Eulogy
Its strange because its not usual you see FX charts shown using a logarithmic scale. Any false breakouts, truncated waves etc will be highly exaggerated at the lower end, and minimalised at the upper end, both of which will be equally confusing when looking at horizontal s/r levels.

OK now I know what u meant,
Well this is not scientific research it was just a draft with idea about how strong trend could be reversed.

Important is weekly ema50(daily ema200) which is moving lower indicates clear downtrend as long as price trends below it.

To be more precise u can use fibs or whatever technique u like.
Interesting level to watch is pretty clear for everyone now.
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  • #222,710
  • Apr 27, 2010 8:45pm Apr 27, 2010 8:45pm
short from last night worked great. I will be shorting again at 145-146 area.
  • #222,711
  • Apr 27, 2010 9:06pm Apr 27, 2010 9:06pm
Quoting geosanuy
what do you think about using 200:1 leverage in a small starting account, say with a $500 balance and also putting into play about 5% in ea. trade ( 5 micros @ 200:1) as long as I open only one at a time. I know it is stretching it a bit,but like I said I'd look only for the better looking setups. Any comments apppreciated.
Success solely depends on how accurately your can enter in the right direction, and, doing so consistently, is almost impossible for one starting out. A really good beginner might make the $500 last 4 weeks, but an average trader, can kiss the $500 goodbye in 2 weeks, (of daily trading). 5% @ 200:1 is suicide, in a $500 account for a beginner. No beginner should use more than 100:1, risking 1-2% per trade; regardless how many millions you've made in your demo account, the pyshcology completely changes with real money. BTW, brokers give you $100K or $1M to lure you. You really should be trading a $500 demo account to start.

You can choose to believe me or not, but 99% of self-professed "good" traders will lose at least a couple of accounts (maybe Ronald Raygun is the exception!) - it ends up being part of your education.
  • #222,712
  • Apr 27, 2010 9:11pm Apr 27, 2010 9:11pm
Quoting Clouds
short from last night worked great. I will be shorting again at 145-146 area.
If it gets that far up, hopefully your shorting is timing/event/news dependant: ie., depending on the May 6 election results, it could go higher.

And let's not forget, the yen is a huge piece of crap - I'm hearing more & more musings of that over the past days - the comparison is where Greece is getting to 130% GDP budget deficit, Japan is already over 200% - it's just a matter of time until the big boys activate that boogey man! Kind of makes the UK gov'ts look like a bunch of rocket scientists!
  • #222,713
  • Apr 27, 2010 9:21pm Apr 27, 2010 9:21pm
Quoting Beljevina
If it gets that far up, hopefully your shorting is timing/event/news dependant: ie., depending on the May 6 election results, it could go higher.

And let's not forget, the yen is a huge piece of crap - I'm hearing more & more musings of that over the past days - the comparison is where Greece is getting to 130% GDP budget deficit, Japan is already over 200% - it's just a matter of time until the big boys activate that boogey man! Kind of makes the UK gov'ts look like a bunch of rocket scientists!
I'm still thinking are they compete with ea. others on debt? looks like Greece is catching Japan Soon or later
row row row your boat
  • #222,714
  • Apr 27, 2010 9:23pm Apr 27, 2010 9:23pm
Quoting Beljevina
Success solely depends on how accurately your can enter in the right direction, and, doing so consistently, is almost impossible for one starting out. A really good beginner might make the $500 last 4 weeks, but an average trader, can kiss the $500 goodbye in 2 weeks, (of daily trading). 5% @ 200:1 is suicide, in a $500 account for a beginner. No beginner should use more than 100:1, risking 1-2% per trade; regardless how many millions you've made in your demo account, the pyshcology completely changes with real money. BTW, brokers give you $100K...
Lolz, In my opinion even 100:1 leverage is ridiculous.
Please realize that Lehman Bros went down the gutter with a leverage of only 30:1.
And they were (or should have been) professionals.
I'm convinced that even with 10:1 leverage you can make big returns. And it is much better for your well being.
Maybe that is the reason I never had a margin call. I lost one account since I started trading in 2005, but that was because Refco went bankrupt,and in the end I got 20% back from the bankruptcy court.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #222,715
  • Apr 27, 2010 9:49pm Apr 27, 2010 9:49pm
Quoting Beljevina
If it gets that far up, hopefully your shorting is timing/event/news dependant: ie., depending on the May 6 election results, it could go higher.

And let's not forget, the yen is a huge piece of crap - I'm hearing more & more musings of that over the past days - the comparison is where Greece is getting to 130% GDP budget deficit, Japan is already over 200% - it's just a matter of time until the big boys activate that boogey man! Kind of makes the UK gov'ts look like a bunch of rocket scientists!
Oh, I don't know, I'm just shorting off this TL, I think i'll try test it a few times.
Attached Image
  • #222,716
  • Apr 27, 2010 10:32pm Apr 27, 2010 10:32pm
Quoting 5ysfx
OK now I know what u meant,
Well this is not scientific research it was just a draft with idea about how strong trend could be reversed.

Important is weekly ema50(daily ema200) which is moving lower indicates clear downtrend as long as price trends below it.

To be more precise u can use fibs or whatever technique u like.
Interesting level to watch is pretty clear for everyone now.

Based on your chart, look like you predicting GJ will drop. As I mention earlier....

How to determine reversal pattern at Major TF....

Your are using Trend line...but we have thousand indicator.....different indicator might give different indication.

But GJ drop below 118 is impossible. If you really want GJ drop below 118, you need to 'push' UJ and GU below 85 and 1.350
  • #222,717
  • Apr 27, 2010 10:34pm Apr 27, 2010 10:34pm
Quoting 5ysfx
I would not dare to teach u but maybe we can figured out something together

Slowly reversing but lower TL is below parity and imho price gonna hit this level sooner than later
Thanks for Knowledge Sharing
  • #222,718
  • Apr 27, 2010 10:42pm Apr 27, 2010 10:42pm
Quoting Myrza
Nice..woke up , sent kids to school, turn on my PC and still seeing GJ hovering where I expected it to be. It is not often have I seen the daily CCi broke 2 supports on a single day...bear is still very alive and kicking.
Not sure where this will take us but I am seeing 2 possible scenarios..first it will range tightly within the h4 inside bar the whole day or price making a fakey move up ( 143.6 top) before settling its unfinished business @ 138.2 -137

In short ..the top of the h4 inside bar (142.7) looks like a nice place to add short. GL fellow...

a little short here 142.65
  • #222,719
  • Apr 27, 2010 11:13pm Apr 27, 2010 11:13pm
I think 142.65 is strong resistance.... yesterday Geppy test it and doesn't broke, now test it again and I'm not sure whether it will break or not. Even though my chart says it will hit 143.3

Have a Great Weekend Guys =)
row row row your boat
  • #222,720
  • Apr 27, 2010 11:18pm Apr 27, 2010 11:18pm
Quoting PandoraBox
Based on your chart, look like you predicting GJ will drop. As I mention earlier....

How to determine reversal pattern at Major TF....

Your are using Trend line...but we have thousand indicator.....different indicator might give different indication.

But GJ drop below 118 is impossible. If you really want GJ drop below 118, you need to 'push' UJ and GU below 85 and 1.350
My prediction based on fibs is respectively for UJ ~75 GU ~1.15
However we have to got bad economic numbers to support this view without fundamental analysis such prediction is "handicapped"
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