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forexnovice replied Jan 4, 2008Sure anytime ! But there will be a Fee
. Just Kidding. Basically I look for areas of strong support/resistance on higher TFs b4 drawing the Fibs from swing hi to swing lo. edit- the bearish 1hr candle you mentioned is playing out well so far.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
Thanx Q
. I have already considered the pivots on the smaller as well as the larger TFs. My position on both longs is small..more like low risk high reward imo even though its countertrend trading. I will be holding till next week's close unless my ...Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
Thanx Dagoods. Contrarian point of views on my analysis are always welcome
Here is another chart posted by Carrera in Cable Update thread showing a harmonic pattern in play on GU 4hr. Beautifully illustrated....even someone with no ...Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
When the qqe goes way below the 30 level. Right now something akin to divergence is playing out on the 4hr charts. Price has made new lows but qqe5 is pointing up on 4hr. Dont know much about divergence but thats how it is looking.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
GM Dagoods. Hope your computer problem gets sorted out soon. I am right there with you on the learning curve still. Your posts and charts are getting great day by day Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
The 4hr QQE 5 shows oversold as well. I will try another small long on GJ as well with SL 100 TP 219. Will be holding both GU and GJ longs till next week's end.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
I am also bearish longterm on GU, UJ, GJ. For those following GMT time, we have a bearish pinbar on 4hr GU and a bullish pinbar on 1hr GU. Some ranging is due b4 price heads either north imo.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
Posted this earlier...looks like you are not paying attention to my posts
..just kidding. Here ya go bro url Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
That is why we Keep the "longs" small. Counter trend trading is risky. Another thing I noted was that 120 pip surge in 3hrs after price hit 1.9673. Even though it was news related, technically I find it hard to ignore.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
Based on fibs on the Daily GU, I am trying a small long now that news is out of the way. SL 100 TP 1.99.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008 1.9767 is also the 1hr 5smaC.Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
Daily GU Sorry for the cluttered chart..
Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
Plotted fibs on daily GU taking high 2.01 lo 1.9673, 50 @ 1.9886 61.8 @ 1.9936 Both not completed so far.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
You mean 1.9750. Whats your SL? No postions, just curious.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008 yeah baby harder....more the effort..better the pleasure..Cable Update (GBPUSD)
- forexnovice replied Jan 4, 2008
Thank You For Sharing that QS
. Downloading it now.Cable Update (GBPUSD)
- forexnovice replied Jan 4, 2008
Thanx Quecee. These monster releases are just not my cuppa tea....
Auslanco - GBP/JPY and GBP/USD (newstrade)
- forexnovice replied Jan 4, 2008
GM bro. Whats your strategy for NFP? I just closed all positions prior to news release. Been burned more than once!
Auslanco - GBP/JPY and GBP/USD (newstrade)