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Daily GBP/JPY analysis

  • #9,201
  • Jul 24, 2007 3:18pm Jul 24, 2007 3:18pm
Quoting atobev
thank you auslanco you're the man...
  • #9,202
  • Jul 24, 2007 3:20pm Jul 24, 2007 3:20pm
Quoting auslanco
No... but my brother makes tons of cash after learning to catch the retracement ... I just cant get my head around going against the trend...
Does he rely on any particular indication that the retracement is about to begin, or is it purely based on observation and experience?
  • #9,203
  • Jul 24, 2007 3:21pm Jul 24, 2007 3:21pm
Auslanco,

What strategy do you use?? MAybe I missed it. Trendlines, EMAs? MACD? SToch? News/Econmoics?

Appreciate much!!

Quoting auslanco
My target is 245.20 by friday..
  • #9,204
  • Jul 24, 2007 3:24pm Jul 24, 2007 3:24pm
Has anyone done a study on the above?
Happy Trading!
BR
  • #9,205
  • Jul 24, 2007 3:25pm Jul 24, 2007 3:25pm
Quoting forexrules
Does he rely on any particular indication that the retracement is about to begin, or is it purely based on observation and experience?
some indicators ... Momentum and 5 SMA but mainly watching the pair every day for the last 2.5 years.. I think I have watched every tick of this pair than BoJ Fukui
  • #9,206
  • Jul 24, 2007 3:27pm Jul 24, 2007 3:27pm
Just looking over the monthly chart. It seems that whenever the RSI does a double top (over 70) a significant move down ensues. Though it isn't clear on this chart it is also significant to note that many major moves down have occurred beginning in the month of August. Any senior members care to share their thoughts on either of these points?
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  • #9,207
  • Jul 24, 2007 3:29pm Jul 24, 2007 3:29pm
Quoting auslanco
some indicators ... Momentum and 5 SMA but mainly watching the pair every day for the last 2.5 years.. I think I have watched every tick of this pair than BoJ Fukui
Thanks auslanco. Very helpful!
  • #9,208
  • Jul 24, 2007 3:30pm Jul 24, 2007 3:30pm
Anyone else still long on this pair?


Frank
  • #9,209
  • Jul 24, 2007 3:31pm Jul 24, 2007 3:31pm
Quoting newjersey24
Auslanco,

What strategy do you use?? MAybe I missed it. Trendlines, EMAs? MACD? SToch? News/Econmoics?

Appreciate much!!

245.20 = July 11th low's... 4hr trend managed to push the price to 245.15 on the 11th of July without the help of Daily bearish trend... now It's got the support of the daily trend... so it will easiely achieve 245.20 this time.
  • #9,210
  • Jul 24, 2007 3:36pm Jul 24, 2007 3:36pm
For everyone who sent me PM's....

I have recieved a large number of PM's and I will answer to you all by end of tommorrow... thanks .
  • #9,211
  • Jul 24, 2007 3:36pm Jul 24, 2007 3:36pm
Quoting frank99
Anyone else still long on this pair?


Frank
I plot to catch @248, 247.06, 246.5 and 245.44 and 244 to go long while the pair drops...BR
  • #9,212
  • Jul 24, 2007 3:37pm Jul 24, 2007 3:37pm
Quoting frank99
Anyone else still long on this pair?


Frank
are you???
"Only when the tide goes out will we know who is swimming naked."
  • #9,213
  • Jul 24, 2007 3:39pm Jul 24, 2007 3:39pm
  •  tazmet
  • | Joined Jun 2007 | Status: Gold Member - Solid Gold Baby! | 47 Posts
Great thread. I've added this to my subscription list and think I'll stay out until I have something meaningful to contribute. One question for Auslanco, do you base the 20% of fall for retracement on your experience with this pair or some other method?

Quoting auslanco
anyone who wants to go short .... it too risky to enter now... retracemnt due about 20% of the fall... wait till the market calms down and breath.
My business model Get pips => Keep Pips => Repeat
  • #9,214
  • Jul 24, 2007 3:42pm Jul 24, 2007 3:42pm
Quoting tazmet
Great thread. I've added this to my subscription list and think I'll stay out until I have something meaningful to contribute. One question for Auslanco, do you base the 20% of fall for retracement on your experience with this pair or some other method?

It's both...I have never read anything or never seen anywere about this retracement.. this is something I have figured out... watching the charts...
  • #9,215
  • Jul 24, 2007 3:43pm Jul 24, 2007 3:43pm
Quoting my2buoys
Just looking over the monthly chart. It seems that whenever the RSI does a double top (over 70) a significant move down ensues. Though it isn't clear on this chart it is also significant to note that many major moves down have occurred beginning in the month of August. Any senior members care to share their thoughts on either of these points?
Yesterday, I noticed that on the monthly chart, RSI touch 80% line, plus when I plotted the 1H chart, following Sidus method, all lines crossed and went south... all pointed to high probability of a south-bound train coming...

Well-done, Auslanco

BR
  • #9,216
  • Jul 24, 2007 3:43pm Jul 24, 2007 3:43pm
By the way .. it's not 20%... it's retracemnt to 5 sma on certain time frames..
  • #9,217
  • Jul 24, 2007 3:43pm Jul 24, 2007 3:43pm
Quoting frank99
Anyone else still long on this pair?


Frank
Still long and adding, slow but steady. I can see 245 this week too, but no sweat. This beast has surprised many shorts before when blasting north again. Anyway, I scalped a few pips (50) short on this move, although it is really rare for me to short this puppy.

@auslanco: Impressed with your analysis
  • #9,218
  • Jul 24, 2007 3:44pm Jul 24, 2007 3:44pm
Quoting auslanco
dont get panicked.. this is just a breather before the next push south... if any one wants to go south you can eneter above 248.05 area
Exited 1/2 lots earlier and now waiting for my 4 Hour candle to close at 5pm EST to re-enter around the 248.00, right at the level your seeing.

Aprreciate your continual posting and clarifications in each step the GJ takes.

My target for the re-entry lots will be 246.50, with my initial shorts from 249.85/20 riding the complete move to your expected 245.00 area.

(I need to research this level at 245.00, can you give me a few details why your looking at that range, or do you see this move down a test of the 7-11-07 support?)

Thanks Bro.

Ken
  • #9,219
  • Jul 24, 2007 3:45pm Jul 24, 2007 3:45pm
Quoting bluerose
Yesterday, I noticed that on the monthly chart, RSI touch 80% line, plus when I plotted the 1H chart, following Sidus method, all lines crossed and went south... all pointed to high probability of a south-bound train coming...

Well-done, Auslanco

BR
thanks BR
  • #9,220
  • Jul 24, 2007 3:46pm Jul 24, 2007 3:46pm
buy limit @ 247.8 was filled, next at 245.6
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