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

based upon mementoms i expect price retrace 4hr 5sma close at 204.50 area(with conflunce of 15 min gann and 8 hr 5sma low) and then resume go up to 4hr gann...but it seems price only retraced 1hr 5sma close and after that resume it's up move.

Well, it seems the major business news sources disagree with this assessment!

TOKYO (Reuters) - Japan is unlikely to intervene to sell the yen despite its jump to eight-year peaks against the dollar as such action could raise hackles among Group of Seven countries.
The dollar's drop has fuelled speculation about the potential for yen-selling intervention by Japanese authorities, who have a long history of aggressively fighting currency strength to shield Japanese exporters from any damage.
As the dollar falls below levels where the Bank of Japan has intervened in years past, analysts are becoming more convinced that Japan is unlikely to stand in the way even if the dollar were to slide below the psychologically key 100 yen for the first time in more than 12 years.
URL: http://www.reuters.com/article/reute...23823820080310


March 7 (Bloomberg) -- Japan is unlikely to intervene to sell the yen because the currency ``looks too cheap,'' said Jim McCormick, head of global currency research at Lehman Brothers Holdings Inc. in London.
The yen's ``effective exchange rate is 20 percent lower than last time the Bank of Japan intervened,'' wrote McCormick in a research report yesterday. ``We see the risks of outright foreign-exchange intervention as low, even in the yen.''
URL: http://www.bloomberg.com/apps/news?p...d=a8c62aRoh1FA


TOKYO (Thomson Financial) - Japan's main economic and business lobby group, the Keidanren, does not plan to call for government intervention to halt the yen's rise against the dollar -- which is currently hurting Japanese exporters -- unless the dollar drops rapidly in the near term, the head of the group said Monday.
"If the dollar takes its steep fall to such extreme levels as 79 yen, the lows reached in the 1990s, we may ask for some kind of a government action. But at present, we do not have such plans on our agenda," Keidanren chairman Fujio Mitarai told a news conference.
URL: http://www.cnbc.com/id/23566983/

Good trades everybody.

moved to BE+1

GM everyone. Hope everyone is having a good start of a day...Please post what Dayly pivot you guys have on GJ and lets say S1. My broker is GMT2 and im having alooot of problems with pivots...

Cheers

This is what I got.

Daily Pivot 205.17 (which we just broke through)
R1 206.06
R2 207.71
S1 203.52 (also the monthly S1)

100sma 1h = 206.04 (IMO)

Then we go down again


Just MO

:surprised
damn mate...what broker ure using and what timezone and sunday data on/off? i just cant find whats best for me, i got like 3 different pivots on my charts for a test and they all show different prices lol, which one is good, i dont know now....

Since we're moving up, here are the three resistance levels I'm looking at:

4H gann 205.80
Daily R1 206.06
4H 50 ema 206.60

If we clear the 4H 50ema, we could see the daily gann and the 50 fib at 208.50 area. That's still a long shot but I'm locking in profits and letting my remaining position ride.

http://www.forexfactory.com/showthre...0582&page=4460
Many thanks to Warta for providing this manual pivot S/R calculator. It is post #66890. I just downloaded it two days ago and it worked great.

Those who are shorts :

DIE !

http://www.freesmileys.org/smileys/violent084.gif

Next Stop 206.06, 08, 12?

Market Touched the 4H GAN..... , It seems we are going to MARS

You don't have pivots in your meta !

DOH !!

where are all those bears who were picking on me yesterday? i called my big brother karm and you all left

Posted on www.auslanco-fx.blogspot.com

I have MT4 for fxdd and ibfx. How can I get the pivot on my chart?

Here is my personnal pivots, nothing complicated, no dst hour, it just works

Put that on experts/indicators, and restart your meta !

Then you will find it in custom indicators !

Hope this helps

205.75 is 50% of Fri high to the low. Also, I see the trendline up from Mar1 that formed the bear flag is holding us here too.

hi

confirm bull above 206.36 .... till now no

Thanks a lot. It will help.