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

  • #223,121
  • May 3, 2010 11:07am May 3, 2010 11:07am
Quoting ubaidahsan
hoho thanks for your advice i was going short in GJ but i checked EJ and entered short with 10 pip SL and with 70 pip Tp both trades closed in total 150 pips thanks bro...in GJ h4 its showing an up trend but in 1h down its confusing coz in daily trend is turning down but indicating that we can hit 146.xx this week please share you views and comments on it

thanks

Ub
..

that's enough for the time being..dun greed...come back in asian as u could get the same thing n so on us open till wednesday us open..then

good luck n congrat..atleast u saw something n able to grab that oppurtunity...

cheers

chow..

p/s: for EY n GY am waiting price to push higher n higher as i wanna..hehehe

g
  • #223,122
  • May 3, 2010 11:16am May 3, 2010 11:16am
Quoting Allseeingeye
Fullhouse I agree with you 1000% I smell BIGGGG FATTTTT RATTTT going on & I wont get caught for a little piece of Chedder Cheese. on a more serious not if you are short be weary of 144.77 break of that & we could be changing back to FULL OF BULL Scenario! The good news for the bears is that this move up today is in 1 wave so we still have a good chance to enter short because we are starting wave 3 up to finish the correction very soon & if we get the 3rd wave up & the move down doesnt break 144.62 then we know...
We should be completing wave 3 correction at 144.63-144.77 then sell if we dont break 144.63 on the way down then we are in a wave 5 going back up. This is a PERFECT TRADE FOR NEWBIES because the STOPS are very tight & the REWARD is HUMUNGAS!
  • #223,123
  • May 3, 2010 11:17am May 3, 2010 11:17am
Can't figure it out this PA today, think I stop trading untill after elections.....
Don't be a hero. Don't have an ego. Always question yourself
  • #223,124
  • May 3, 2010 11:21am May 3, 2010 11:21am
Looking for some pips..hope it will touch upper band and UTL again...
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Pride of opinion is a characteristic of losing traders
  • #223,125
  • May 3, 2010 11:21am May 3, 2010 11:21am
Quoting USD-Bear
Can't figure it out this PA today, think I stop trading untill after elections.....
ITS THE EASIEAST TRADING ive seen in a while the WAVES are so easy to count look at my previous posts hit them dead on & the last one gives you an insider trading odds. VERY TIGHT STOPS HUGE REWARD
  • #223,126
  • May 3, 2010 11:22am May 3, 2010 11:22am
Between the election for GB and the Golden Week 3 day holiday for JPY, it could get hairy this week.
Quoting USD-Bear
Can't figure it out this PA today, think I stop trading untill after elections.....
  • #223,127
  • May 3, 2010 11:26am May 3, 2010 11:26am
Quoting Allseeingeye
ITS THE EASIEAST TRADING ive seen in a while the WAVES are so easy to count look at my previous posts hit them dead on & the last one gives you an insider trading odds. VERY TIGHT STOPS HUGE REWARD
I'm glad for you !!
Don't be a hero. Don't have an ego. Always question yourself
  • #223,128
  • May 3, 2010 11:27am May 3, 2010 11:27am
Quoting USD-Bear
I'm glad for you !!
THANK YOU! I didnt mean to be Cocky & if you took it that way Im sorry.
  • #223,129
  • May 3, 2010 11:28am May 3, 2010 11:28am
not sure
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  • #223,130
  • May 3, 2010 12:03pm May 3, 2010 12:03pm
Quoting Allseeingeye
THANK YOU! I didnt mean to be Cocky & if you took it that way Im sorry.
No not at all, PA atm just doesn't fit in my way of trading which tells me to do nothing until it does.....
But anyway thanks for your considerations....
Don't be a hero. Don't have an ego. Always question yourself
  • #223,131
  • Edited 3:22pm May 3, 2010 3:00pm | Edited 3:22pm
Have'nt posted in a while so here is my take on current PA if anyone is interested. . .

In my experience when we enter into a consolidation zone it's best to look to the higher TF's to try an make some sense out of what could be going on. . .

So if we look at the weekly chart. . .

One can clearly see that we are still in the bigger triangle bounded by the UTL top started at 153 and 150.75. . . So our current top for this wave up comes in at 146.15/10 which is also old rssistance if anyone can remember. Last week we touch that area before retreating back to support (50% fib) at or just above 141 area. . .

The fib zone I speak of is drawn from the swing high to the swing low off 163 - 118.77 area. . .

Also if you look at the LTL triangle we can see that there is support at 139.40 area and just below that is support ar'd 136/134. . .

So, where does that leave us in terms of PA. . .

Well, I see either we break the downward trend with a breakout above 146.16/10 with a weekly close above there for the next leg up 150.70/151.70 area with a possibility of challenging the next fib level 152.60/153 area. . .

Or PA respects the UTL and we see the lower fib challenged again @ 141-139.40 (range bound). However, a break of the LTL with a weekly close below sees 136/134 (next support and a break there sees the awaited 129 area. . .)

All else is ranging between 146-141. . . with dips to 139.40. . .

Current PA can revisit back to 145.70 with a possible spike up to 146 so stay flexible if you are looking to short. . .

However, looking at the daily PA seems to be capped by the 200 EMA since Oct 2009 and has been since seeing 153. . .

So if I were a betting man I would bet that we could/should see lower price as I think we have a temp. top in place however it could be re-challenged for a double top before heading south. . .

So, a good strategy would be to short on an approach of the UTL for a double top with SL just above the recent high or above the daily 200 EMA for a look lower with a possible break. . .

or wait for a solid close above last weeks high with a test of the break out with a weekly close above 146.16/10. . .

Safest trade without being wrapped up in the whoopola of the ranging PA. . .

But that's just my take trade what u see. . .
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  • #223,132
  • May 3, 2010 3:14pm May 3, 2010 3:14pm
Quecee ..i see that you are online . could you kindly share your view ?


do you also see a bearish view and top is in place ?
  • #223,133
  • May 3, 2010 3:15pm May 3, 2010 3:15pm
Quoting quecee5
Have'nt posted in a while so here is my take on current PA if anyone is interested. . .

In my experience when we enter into a consolidation zone it's best to look to the higher TF's to try an make some sense out of what could be going on. . .

So if we look at the weekly chart. . .

One can clearly see that we are still in the bigger triangle bounded by the UTL top started at 153 and 150.75. . . So our current top for this wave up comes in at 146.15/10 which is also old rssistance if anyone can remember. Last week we touch...
lol ... thnx.. not just a good trader, but also a experting mind reading
  • #223,134
  • May 3, 2010 3:18pm May 3, 2010 3:18pm
Quoting fullhouse
lol ... thnx.. not just a good trader, but also a experting mind reading
. . . and what are you seeing?
  • #223,135
  • May 3, 2010 3:36pm May 3, 2010 3:36pm
Quoting quecee5
. . . and what are you seeing?
i posted this over the weekend and i surely see the top is in place.. medium/long term top.. i went 2 hours ago short @ 144.45 and stop above 146 ... ,,YOU NEED TO STAY FLEXIBLE AND WE CAN RE TEST 146 ..

its def. messy ,but my experience and gutfeel say the medium top is in place .. so lets see
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  • #223,136
  • May 3, 2010 3:47pm May 3, 2010 3:47pm
Quoting quecee5
. . . and what are you seeing?

and this daily chart, candle formation , it looks surely the top is already inplace ,and we will see a retest of 139 and maybe lower 135/136 .. BUT THURSDAY/FRIDAY CAN MESS IT UP..IF WE CLOSE BELOW 141.60 ,THEN 139 WONT STOPPED IT.. 136.50 IS NEXT
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  • #223,137
  • May 3, 2010 3:55pm May 3, 2010 3:55pm
Quoting fullhouse
and this daily chart, candle formation , it looks surely the top is already inplace ,and we will see a retest of 139 and maybe lower 135/136 .. BUT THURSDAY/FRIDAY CAN MESS IT UP..IF WE CLOSE BELOW 141.60 ,THEN 139 WONT STOPPED IT.. 136.50 IS NEXT
Not sure why Thusday/Friday can mess it up but if you are referring to UK election well I would agree could see some ranging. . .

However also keep in mind weekly and daily range. . .

Daily = 142.62 - 143.91 - 144.60
Weekly = 141.27 - 143.61 - 145.65

Also if we do break up we should see some resistance at 146.16/39 so watch for a false break if we do venture up top. . .

Likewise with false breaks lower. . . 139.80/139.23 anything beyond that will dip to 136.90/136.28 if we should break lower. . .

Should be plenty of time to get positioned or enter and take some off before the Whoopola!

  • #223,138
  • May 3, 2010 4:02pm May 3, 2010 4:02pm
Quoting quecee5
Not sure why Thusday/Friday can mess it up but if you are referring to UK election well I would agree could see some ranging. . .

However also keep in mind weekly and daily range. . .

Daily = 142.62 - 143.91 - 144.60
Weekly = 141.27 - 143.61 - 145.65

Also if we do break up we should see some resistance at 146.16/39 so watch for a false break if we do venture up top. . .

[b]Likewise with false breaks lower. . . 139.80/139.23 anything beyond...

LOOK AT THE usd/jpy .. we might "might" double topped it ,on 4hour/daily&weekly and then we can see momentum 2morrow.. or asian session ..

GL
  • #223,139
  • May 3, 2010 4:18pm May 3, 2010 4:18pm
Quoting fullhouse
LOOK AT THE usd/jpy .. we might "might" double topped it ,on 4hour/daily&weekly and then we can see momentum 2morrow.. or asian session ..

GL
and respecting UTL, I'm short @ 94.70 SL @ BE but its too slow to feel confident yet....
Upper yellow line is the double top

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Don't be a hero. Don't have an ego. Always question yourself
  • #223,140
  • May 3, 2010 4:33pm May 3, 2010 4:33pm
Quoting USD-Bear
and respecting UTL, I'm short @ 94.70 SL @ BE but its too slow to feel confident yet....
Upper yellow line is the double top

Attachment

GL..hope you can pull it off
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