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

  • #225,121
  • May 18, 2010 3:09pm May 18, 2010 3:09pm
just hovering now, 38.2. Wait and see.
  • #225,122
  • May 18, 2010 3:10pm May 18, 2010 3:10pm
Quoting Geppy
Fair enough... just curious as I'm on the sidelines and bored....
True so true... PA is slowing down but will pick up in a few hours for an hour or two.... I am basically watching lower TF charts and scalping shorts but even that is becoming tedious at the moment

As long as 134 is not broken then short bias rules intraday...
Traderdesk -
  • #225,123
  • May 18, 2010 3:17pm May 18, 2010 3:17pm
that's a critical area right here. and it's tricky... big sharks are playing games.

the low in place for current NY session was actually 131.07. i mentioned 131.90 earlier, but i said it would become relevant only after NY close... i was actually expecting this sort of action. and here it is, a lower low... 131.81.

if we don't see another lower low in the next 40 minutes until NY close, then 131.81 is our new relevant low. this is the place to set pending shorts, or stops for who opened longs.

Quoting Piters
cool.. I'll wait next 2-3 h.. too many elephants I saw today..
Nihil Sine Deo.
  • #225,124
  • May 18, 2010 3:17pm May 18, 2010 3:17pm
scrat,,are you a elliot guru ? i dont know much or anyone who can help...

if you get 5 waves down,,is leg 4 normally the start of an ABC correction ,if leg 5 dont pass leg 3 ..my cart have an example
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  • #225,125
  • May 18, 2010 3:25pm May 18, 2010 3:25pm
no elliott. just plain price action. i explained this earlier, but nobody got that... it's about superimposing daily candles with different closing times.

here's an example.
- first chart shows resistances based on daily highs/close of major sessions (tokyo, london, ny). when price goes above colored squares, we are going up...
- second chart shows supports based on daily lows/close of major sessions. when price goes below colored squares, we are going down. and because dominant trend is down, this is the trade i am waiting for.

Quoting fullhouse
scrat,,are you a elliot guru ? i dont know much or anyone who can help...

if you get 5 waves down,,is leg 4 normally the start of an ABC correction ,if leg 5 dont pass leg 3 ..my cart have an example
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Nihil Sine Deo.
  • #225,126
  • May 18, 2010 3:30pm May 18, 2010 3:30pm
not sure
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  • #225,127
  • Edited 3:47pm May 18, 2010 3:30pm | Edited 3:47pm
so in our case... 131.81 is the lowest of the three main sessions for TODAY. as soon as NY will close, it's a new trading day... so, a lower low = continuation of the downtrend.

oh, and something else - if you look at first chart, you will see that highest resistance is @ 134.79, and this level was valid for all three major sessions today. so... for tomorrow, unless we see a break of 134.79, price will not go up.
if we see such a break, then theoretically price will go up for challenging next resistance on higher timeframes - it may go as high as 138.45 but only if support will hold.

Quoting Scrat
no elliott. just plain price action. i explained this earlier, but nobody got that... it's about superimposing daily candles with different closing times.

here's an example.
- first chart shows resistances based on daily highs/close of major sessions (tokyo, london, ny). when price goes above colored squares, we are going up...
- second chart shows supports based on daily lows/close of major sessions. when price goes below colored squares, we are going down. and because dominant trend is down, this is the trade i am waiting for.
Nihil Sine Deo.
  • #225,128
  • May 18, 2010 3:41pm May 18, 2010 3:41pm
Quoting Scrat
no elliott. just plain price action. i explained this earlier, but nobody got that... it's about superimposing daily candles with different closing times.

here's an example.
- first chart shows resistances based on daily highs/close of major sessions (tokyo, london, ny). when price goes above colored squares, we are going up...
- second chart shows supports based on daily lows/close of major sessions. when price goes below colored squares, we are going down. and because dominant trend is down, this is the trade i am waiting for.

very interresting... i try to folow your methods,,but can you tell in quick how do you plan your trades...

do you only sell and buy on prev closes of UK,JAPAN,US ? .. say if japan open and it drop 100 pips and closed at 130... and uk continue with 50 pips and retrace back to 130 of japan closed,,IS THAT THEN YOUR SELL LIMIT ? ..
  • #225,129
  • May 18, 2010 4:00pm May 18, 2010 4:00pm
it's difficult to explain... i take account of session closing price AND highest or lowest price within the last 24 hourse (since previous close of the same session).

Quoting fullhouse
very interresting... i try to folow your methods,,but can you tell in quick how do you plan your trades...

do you only sell and buy on prev closes of UK,JAPAN,US ? .. say if japan open and it drop 100 pips and closed at 130... and uk continue with 50 pips and retrace back to 130 of japan closed,,IS THAT THEN YOUR SELL LIMIT ? ..
Nihil Sine Deo.
  • #225,130
  • May 18, 2010 4:01pm May 18, 2010 4:01pm
AUD/JPY,,CAD/JPY..EUR/JPY..ALL POINTED DOWNWARDS... time to rethink ,and re- evalueate.. im flat ,,my bullsih view is gone.. dont see a retrace in the next sessions...

aud/jpy is ecpecially very bearish now
  • #225,131
  • May 18, 2010 4:06pm May 18, 2010 4:06pm
last HOUR before the BAN..

pls use some contraception..
  • #225,132
  • May 18, 2010 4:15pm May 18, 2010 4:15pm
Most of the yen crosses look like they're barely holding on ... it's 15 min after the NY close, and, they're movin' unusually much, & looking set to go off a cliff. Next support 131.1
  • #225,133
  • May 18, 2010 4:18pm May 18, 2010 4:18pm
We're BAAACK.... @ 131.... Let's see what happens from here... I'm on the trigger with the < 30 min TF to get some pips....
  • #225,134
  • May 18, 2010 4:24pm May 18, 2010 4:24pm
Quoting Beljevina
Most of the yen crosses look like they're barely holding on ... it's 15 min after the NY close, and, they're movin' unusually much, & looking set to go off a cliff. Next support 131.1
Howdy! Are you still using the paramon work time indi? I was wondering if it helps with the direction of this pair with the asia and london session patterns.
  • #225,135
  • May 18, 2010 4:34pm May 18, 2010 4:34pm
from 15min to daily, RSI keeps telling me a nice jump up from these levels coming soon, but when exactly, watching.
  • #225,136
  • May 18, 2010 4:35pm May 18, 2010 4:35pm
this is a pretty sick trade im in..luckliy i hold it for quiet long time,,but below the support line of double top,time to add alot more , it will drop then heavy another 800 pips with minor pitstops..
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  • #225,137
  • May 18, 2010 4:37pm May 18, 2010 4:37pm
Quoting USTrader
Howdy! Are you still using the paramon work time indi? I was wondering if it helps with the direction of this pair with the asia and london session patterns.
Hey Mate, I don't think it'll be of much help here ... I've used it to simply mark on a chart the area/bars that are Tokyo produced ... we're into somewhat uncharted territory on this move I think, although if you've got an angle, it'd be interesting to hear it.
  • #225,138
  • May 18, 2010 4:59pm May 18, 2010 4:59pm
I think I got out too early. I'm hoping a for retrace to 132.60 to reload short. If it doesn't I don't mind cause I already made a big chunk on shorts today. Target is still 129.60.
  • #225,139
  • May 18, 2010 5:03pm May 18, 2010 5:03pm
not sure
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  • #225,140
  • Edited 5:37pm May 18, 2010 5:35pm | Edited 5:37pm
Quoting Beljevina
Hey Mate, I don't think it'll be of much help here ... I've used it to simply mark on a chart the area/bars that are Tokyo produced ... we're into somewhat uncharted territory on this move I think, although if you've got an angle, it'd be interesting to hear it.
I'm still mulling over my charts but as it is, I have one of my charts Indi says it's time for a booty bounce!

Still unsure on hourly or < TF direction but inclined to think going down further during london open.
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