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Daily GBP/JPY analysis

  • #9,281
  • Jul 24, 2007 6:04pm Jul 24, 2007 6:04pm
I'm seeing a slight bull here. I'm new so maybe I'm not doing something right. Before i jumped in. I wanted to hear from the experts.

Thanks
  • #9,282
  • Jul 24, 2007 6:04pm Jul 24, 2007 6:04pm
is this good place to re-enter short here? thanks. I'm a little tired of waiting for longs to be filled...Regards BR
  • #9,283
  • Jul 24, 2007 6:07pm Jul 24, 2007 6:07pm
all the shorties... dont get panicked ... market is thin and tokyo just started ... it's just a breather . Retracement up to 4hr 5sma 248.30 range.. good time to go short.. if you havent already.
  • #9,284
  • Jul 24, 2007 6:10pm Jul 24, 2007 6:10pm
[quote=auslanco;1506380]Has anyone still practising on demo accounts?
I'm testing this news trading method... which I study the interbank chart patterns of GBP/USD of the last 30 mins before the release... I can make the buy or sell call 10 minutes before the release. I study the buying and selling patterns and 4 hr trend on Ducascopy interbank platform. If i can find a strong pattern inline with the 4hr trend then I make the call...Otherwise no trade. I have been testing this since march and it has a 95% win probability upto now. Please only try this with Demo accounts as this is still on it's testing stages. This weeks news events I would like to trade are listed below... If you like to participate on this thread let me know... but you must have a demo account ready..



Count me in, would love to test this out.
Trade what you see, not what you think.
  • #9,285
  • Jul 24, 2007 6:10pm Jul 24, 2007 6:10pm
Quoting auslanco
all the shorties... dont get panicked ... market is thin and tokyo just started ... it's just a breather . Retracement up to 4hr 5sma 248.30 range.. good time to go short.. if you havent already.
Any more retracement after this? Hope this is the last one.
  • #9,286
  • Jul 24, 2007 6:13pm Jul 24, 2007 6:13pm
Quoting trader8686
Any more retracement after this? Hope this is the last one.
LOL... I hope not.. just getting ready for a another 200 pip push... i will tell you exactly @ 00.00GMT
  • #9,287
  • Jul 24, 2007 6:15pm Jul 24, 2007 6:15pm
[quote=maestr2;1506393]
Quoting auslanco
Has anyone still practising on demo accounts?
I'm testing this news trading method... which I study the interbank chart patterns of GBP/USD of the last 30 mins before the release... I can make the buy or sell call 10 minutes before the release. I study the buying and selling patterns and 4 hr trend on Ducascopy interbank platform. If i can find a strong pattern inline with the 4hr trend then I make the call...Otherwise no trade. I have been testing this since march and it has a 95% win probability upto now. Please only try this with Demo accounts as this is still on it's testing stages. This weeks news events I would like to trade are listed below... If you like to participate on this thread let me know... but you must have a demo account ready..





Count me in, would love to test this out.
Thanks Mastr2 ... i'll see you for existing home sales @ 1400
  • #9,288
  • Jul 24, 2007 6:18pm Jul 24, 2007 6:18pm
248.30 is the 50% usual retracement when a new market starts or on a very thin volume trading..
  • #9,289
  • Jul 24, 2007 6:20pm Jul 24, 2007 6:20pm
I am sure you all noticed that we are sitting right underneath the absolute high in 1992 of 249.19. Will this act as resistance again? The market has only got within shouting distance of these levels one other time in 1998. The runup the last few years has been pretty dramatic and I wonder if we are spent at this point.
  • #9,290
  • Jul 24, 2007 6:22pm Jul 24, 2007 6:22pm
Quoting auslanco
248.30 is the 50% usual retracement when a new market starts or on a very thin volume trading..
I give it 38.2% to do it.
  • #9,291
  • Jul 24, 2007 6:28pm Jul 24, 2007 6:28pm
Quoting PFXGlobal
I am sure you all noticed that we are sitting right underneath the absolute high in 1992 of 249.19. Will this act as resistance again? The market has only got within shouting distance of these levels one other time in 1998. The runup the last few years has been pretty dramatic and I wonder if we are spent at this point.
Does it mean that a deep deep drop is highly probable with such high resistance @249.19, and we may have one right now? However, think about it? the pair has already reached levels higher than 250, 251, would that help to break that resistance easier? Regards BR
  • #9,292
  • Jul 24, 2007 6:29pm Jul 24, 2007 6:29pm
if reach 38.2%, it's bullish already!
Quoting trader8686
I give it 38.2% to do it.
Don't be panic when it's negative
  • #9,293
  • Jul 24, 2007 6:30pm Jul 24, 2007 6:30pm
Quoting PFXGlobal
I am sure you all noticed that we are sitting right underneath the absolute high in 1992 of 249.19. Will this act as resistance again? The market has only got within shouting distance of these levels one other time in 1998. The runup the last few years has been pretty dramatic and I wonder if we are spent at this point.

Iam not too sure about what you are saying... but everything I see on my chart is pretty normal for a great bearish trend... for atleast another 300-400 pips. We even have the daily momentum which shows us very promising downtrend.. which was very bullish 12 hours ago. so I wouldnt too worry about any ressitance until down to 300-400 pips because we are on a very trending market with a excellent bear momentum.
  • #9,294
  • Jul 24, 2007 6:30pm Jul 24, 2007 6:30pm
[quote=auslanco;1506398]
Quoting maestr2

Thanks Mastr2 ... i'll see you for existing home sales @ 1400
I'm in as well. Would love to test this.
  • #9,295
  • Jul 24, 2007 6:32pm Jul 24, 2007 6:32pm
Long we go, pending this 4H close, target 249 or thereabouts. Good luck!
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #9,296
  • Jul 24, 2007 6:35pm Jul 24, 2007 6:35pm
[quote=forexrules;1506418]
Quoting auslanco

I'm in as well. Would love to test this.

thanks forex rules see you at 15 minutes before the 1400.GMT
  • #9,297
  • Jul 24, 2007 6:36pm Jul 24, 2007 6:36pm
Auslanco,

Could you explain a little on how you are using the 5sma?

Thanks
  • #9,298
  • Jul 24, 2007 6:36pm Jul 24, 2007 6:36pm
I think the bear ralley has started again... hope you guys didnt miss to go short...
  • #9,299
  • Jul 24, 2007 6:39pm Jul 24, 2007 6:39pm
Quoting mirzyk
Auslanco,

Could you explain a little on how you are using the 5sma?

Thanks
hmmmm... not trying to be rude mirzyk... I explained to Blue Rose on this thread about 50 posts ago... you will be able to find all info there... I'll also try to find that post and pass it to you...
  • #9,300
  • Jul 24, 2007 6:40pm Jul 24, 2007 6:40pm
Quoting Dobin
if reach 38.2%, it's bullish already!
Read the message, again, I was reponding to #9287.
Re: current downtrend retracement from 249.15
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