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GU, GJ and EU Analysis Thread

  • #861
  • Feb 11, 2011 12:26am Feb 11, 2011 12:26am
Stocky! Great to see you back and congratulations!
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  • #862
  • Feb 11, 2011 12:29am Feb 11, 2011 12:29am
I have a very similar chart with some basic MAs, showing, for my particular chart, potential drops into the 1.5985, 1.5857, 1.5756 and even 1.5450 regions. I was until events in Egypt yesterday and a closer look at the USINDX, looking at the 1.64 and up region. Now, well, just watching.
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  • #863
  • Feb 11, 2011 12:44am Feb 11, 2011 12:44am
Quoting smikester
Hoping this isn't too complicated for this thread:

Attachment
You always do that though smikester, you like to tout the simplicity like our stuff is super complicated. I dig it, but what's your trigger? What are you looking for? When would you pack it in?

We could just range in your triangle till NY closes up?

I wanna hear your numbers
  • #864
  • Feb 11, 2011 12:49am Feb 11, 2011 12:49am
Here is something else I'm looking at:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy110211w1.gif Size: 15 KB
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  • #865
  • Feb 11, 2011 12:50am Feb 11, 2011 12:50am
Quoting smikester
Hoping this isn't too complicated for this thread:
if you plot a line across 6065 which represents the w1 pivot, you'll see that your space is being heavily guarded, had been so since monday ...

hello sm, hi everyone
Thank You
  • #866
  • Feb 11, 2011 12:58am Feb 11, 2011 12:58am
Quoting sinner-
You always do that though smikester, you like to tout the simplicity like our stuff is super complicated. I dig it, but what's your trigger? What are you looking for? When would you pack it in?

We could just range in your triangle till NY closes up?

I wanna hear your numbers
I always do that because I'm too thick to understand anything else. I like this thread but my brain cells are outnumbered.

My trigger is this: The triangle represents compression and as wormboy said, the levels are heavily guarded. So there could be a break out. That's all. I like compression break outs. When those stops go, we'll see some movement. I'll probably get in on a PA bar on the H1 or H4, or on a retest of those lines. The numbers are on the chart. Targets? Well, I'll probably trail. My favoured method of trailing at the moment is the 50% Donchian channel on whatever time frame I took the trade. If it goes well I move up a time frame.
Gone to a better place
  • #867
  • Feb 11, 2011 12:59am Feb 11, 2011 12:59am
Quoting wormboy
if you plot a line across 6065 which represents the w1 pivot, you'll see that your space is being heavily guarded, had been so since monday ...

hello sm, hi everyone
Hey wormy! Haven't seen you around these parts in a while.

Yep, exactly. Not to mention, 6000 is a bit fat psych line which we closed the month over, 6025 even.

EDIT:

Quote
I always do that because I'm too thick to understand anything else. I like this thread but my brain cells are outnumbered.

My trigger is this: The triangle represents compression and as wormboy said, the levels are heavily guarded. So there could be a break out. That's all. I like compression break outs. When those stops go, we'll see some movement. I'll probably get in on a PA bar on the H1 or H4, or on a retest of those lines. The numbers are on the chart. Targets? Well, I'll probably trail. My favoured method of trailing at the moment is the...

I dig it, think you are a sharp operator yourself so no "outnumbered" business eh.

50% donch as in, 50% of the h/l range? I am still Ichimoku'ing
  • #868
  • Feb 11, 2011 1:03am Feb 11, 2011 1:03am
Looks like this thread is pulling in quite a formidable gang. Hi Wormboy.

Smikester, yes, if the triangle breaks, you could be on to a winner.

Never rule anything out, that's me.
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  • #869
  • Feb 11, 2011 1:03am Feb 11, 2011 1:03am
This is interesting:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy110211m30.gif Size: 23 KB
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  • #870
  • Feb 11, 2011 1:16am Feb 11, 2011 1:16am
As Honeybhi has just said, I think a wait for breakout and retest is the best strategy.

http://www.forexfactory.com/showpost...stcount=233710
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  • #871
  • Feb 11, 2011 1:18am Feb 11, 2011 1:18am
smikester got me curious, so I had to pull out the GU chart again, I'm a bit rusty on this but...
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Click to Enlarge Name: backtest16.png Size: 21 KB
Attached Image
  • #872
  • Feb 11, 2011 1:25am Feb 11, 2011 1:25am
Quoting sinner-
Hey wormy! Haven't seen you around these parts in a while.

Yep, exactly. Not to mention, 6000 is a bit fat psych line which we closed the month over, 6025 even.
hey sin ,
how've you been? I hope everything is great. yep, think I'll hang ard this part for a while, better discussions/analysis involved here.

Anyway apart from the odd scalps, I couldn't get myself to position for a short swing, mainly because I don't see a reason to. I've been in long since Monday till today.
Is anyone already in sell? If so, mind discussing why? Technically btw, because maybe I had missed a thing or two & I'd appreciate it if I can be pointed to it.
By the way, this is my working chart. I had place a very wide stop, more like 200 pips wide tbh, to allow me to get out safely just in case price does close below the W1 pivot today. Note that yesterday's low is also 50% of the 420 pips flagpole from the last dip.
Attached Image (click to enlarge)
Click to Enlarge Name: gudb.gif Size: 23 KB
Thank You
  • #873
  • Feb 11, 2011 1:44am Feb 11, 2011 1:44am
Quoting wormboy
hey sin ,

Is anyone already in sell? If so, mind discussing why? Technically btw, because maybe I had missed a thing or two & I'd appreciate it if I can be pointed to it.
Hey wormboy, I don't have a position on this pair, yet. But the triangle chart came from here: http://www.forexfactory.com/showpost...postcount=4237 and I like his thread.
Gone to a better place
  • #874
  • Feb 11, 2011 1:45am Feb 11, 2011 1:45am
Gentleman, and of course, the ladies, I'm retiring to the garden. There may well be some Friday moves, but I, for one, see a muted reaction to the news release, which tells me that considerations elsewhere may be weighing on the minds of big money.

I'm guessing the US news may provide for some movement, but as I noted earlier, Trichet is taking the stand down in the comedy pit later today, and I never understand his jokes, and so will probably not bother watching.

Right, with a copy of the FT printed off, and cup of coffee in a British Flag-patterned cup, I bid you all a good day and hope nobody slips into the red trying to catch knives on a Friday that will leave you with a pain over the weekend.
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  • #875
  • Feb 11, 2011 1:46am Feb 11, 2011 1:46am
...yes, agreed, TLCs thread is well worth checking.

Quoting smikester
Hey wormboy, I don't have a position on this pair, yet. But the triangle chart came from here: http://www.forexfactory.com/showpost...postcount=4237 and I like his thread.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #876
  • Feb 11, 2011 2:22am Feb 11, 2011 2:22am
Quoting smikester
Hey wormboy, I don't have a position on this pair, yet. But the triangle chart came from here: http://www.forexfactory.com/showpost...postcount=4237 and I like his thread.
thanks for the link mate, cheers.
I've pull the plug from the long trade & take the loss. I'm gonna stay flat till I get a proper bounce on the d1 to buy, or a proper break to sell.
Thank You
  • #877
  • Feb 11, 2011 2:24am Feb 11, 2011 2:24am
Quoting wormboy
thanks for the link mate, cheers.
I've pull the plug from the long trade & take the loss. I'm gonna stay flat till I get a proper bounce on the d1 to buy, or a proper break to sell.
I know how that feels. Good trading to you.
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  • #878
  • Feb 11, 2011 2:30am Feb 11, 2011 2:30am
I know I said I was going, but I took the laptop with me.

Gu just kissed the 50 FE/1.6000 support zone.

EU just kissed 23.6 FE/ standard green 50 fib level/potential double bottom/possible 1hr pin formation.

EDIT: GU just kissed a rising daily ema 20.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1hr.gif Size: 34 KB
Click to Enlarge Name: eu1hr.gif Size: 41 KB
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  • #879
  • Feb 11, 2011 2:42am Feb 11, 2011 2:42am
Quoting smikester
I know how that feels. Good trading to you.
thanks mate

about half of the initial loss now had been recovered after switching to the m1 & scalped. should've done this earlier with all the ranging. oh well .. hindsight lol. slight divergence now on the m1, could well take me out of the remainder.
will scoot for the week if that happens

good luck to you too my friend
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 52 KB
Thank You
  • #880
  • Feb 11, 2011 3:05am Feb 11, 2011 3:05am
Quoting wormboy
could well take me out of the remainder.
will scoot for the week if that happens
or not

closed out the remainder & managed to reduce earlier loss to 7.3 pips
okay done for the week, hope everyone have a great day.

enjoy your weekend fellas! ta!
Attached Image (click to enlarge)
Click to Enlarge Name: gum1.png Size: 53 KB
Thank You
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